City London Financial News

Baker McKenzie has boosted salaries for newly qualified lawyers in London to £110,000, sending its junior pay higher than Magic Circle law firms Linklaters and Allen & Overy.

Fed's Lael Brainard urges swift action on regulating cryptocurrencies

Regulate now or regret it later, United States Federal Reserve Board vice chairperson Lael Brainard told an audience at a Bank of England conference in London on Friday. Crypto has the same basic risks as tradition finance and needs “strong guardrails,” Brainard claimed, pointing to the recent downturn in market as proof. 

WASHINGTON—U.S. policy makers should extend investor protections and other financial rules to the cryptocurrency industry before the industry grows too large and begins to pose risks to the financial system, Federal Reserve Vice Chairwoman Lael Brainard said Friday.

Boris Johnson, who has been the prime minister of the United Kingdom since 2019, said he will step down as leader of the country’s Conservative Party but will remain head of state until a replacement has been found.

Pride events around Europe on Saturday - big and small - brought a rainbow celebration of LGBTQ rights into focus. 

Bitcoin is on track for its worst quarter in more than a decade, as more hawkish central banks and a string of high-profile crypto blowups hammer sentiment. The 56% drawdown in the biggest cryptocurrency is the largest since the third quarter of 2011, when Bitcoin was still in its infancy, data compiled by Bloomberg show. The decade in between those hallmarks saw several booms and busts, with cryptocurrencies’ market value swelling as they gained more widespread adoption and ultra-low interest rates spurred risk taking. But the current bear market stands out for the amount of crypto leverage that’s been unwound — and for the regulatory scrutiny being heaped on an asset class many central banks now consider a threat to financial stability.

“Crypto” is often used as an honorific inside the community. United States Securities and Exchange Commission member Hester Peirce is called Crypto Mom for her steadfast support for digital assets, and Time magazine crowned Vitalik Buterin the Prince of Crypto. When Ruja Ignatova was given the title “Cryptoqueen” in a 2019 true-crime podcast, however, it was with far less endearment. 

Bitcoin is on track for its worst quarter in more than a decade, as more hawkish central banks and a string of high-profile crypto blowups hammer sentiment.

Resilience training from former soldiers, dogs in the office and £160,000 salaries for juniors are just some of the ways London law firms are trying to keep their staff happy during a challenging period for morale.

Health officials in Britain declared a "national incident" on Wednesday after discovering the virus that causes polio in the country for the first time in nearly 40 years.

[content][quote]Market Buzz[/quote][title]Cryptocurrency Prices Today June 24: Bitcoin trades around Rs 17 lakh[/title][body] Major cryptocurrencies were trading flat early on June 24 as the global crypto market-cap increased 3.70 percent to $933.84 billion over the last 24 hours. On the other hand, the total crypto market volume declined 9.04 percent to $60.76 billion during the period. The total volume in DeFi stood at $5.39 billion, 9.21 percent of the total crypto market's 24-hour volume. Read more here. [/body][/content]

Scott Chipolina in London Crypto networks that pledged to put users in control have put themselves in charge as they try to survive the deepening crisis gripping the digital asset market. In the past week, three decentralised finance groups have stepped in with emergency plans to protect their projects and users from economic pain in the face of tumbling cryptocurrency prices.

Resilience training from former soldiers, dogs in the office and £160,000 salaries for juniors are just some of the ways London law firms are trying to keep their staff happy during a challenging period for morale.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Nearly all of Wall Street and the Fed botched market calls for 2022

Bitcoin falls below $20,000 for the first time since 2020

Paul Hastings hired private equity partner Tom Cartwright from rival US firm Morgan Lewis & Bockius in London as law firm continue to hunt for top private equity talent.

An employee at ABN Amro last month found out he had been made redundant from the car park attendant at the Dutch bank's headquarters in London.

With Britain bidding to send its first group of asylum-seekers to Rwanda later today, after the Court of Appeal in London rejected an appeal on Monday, some refugees already in the country are warning that times may be hard for the new arrivals.

A UK court has refused to stop the British government's plan to deport undocumented asylum seekers to Rwanda, with Prime Minister Boris Johnson's office saying that the first deportation flight would go ahead as scheduled on Tuesday.