FIVE Financial News

All cryptocurrency ATMs in Singapore have been shut down by the Monetary Authority of Singapore, following the city-state’s prohibition of all crypto-related advertisements in public spaces.

Bitcoin‘s current price struggles are no secret to the cryptocurrency sector as the top asset continues to bleed red almost three weeks into the new year. It has lost 11% of its valuation over the past month, leading many experts to believe that the bears have settled in.

Securities and Exchange Commission Chairman Gary Gensler said Wednesday that the regulator is eyeing tighter disclosure deadlines for hedge funds building sizable stakes in companies.

The largest fund administered by Blackstone Group, the giant investment firm known for raising capital from institutions such as pension funds and endowments, is now one that mostly targets individual investors.

Traders at firms who are pushing for a return to pre-pandemic working arrangements fear their company’s inflexibility will leave them at a disadvantage.

Traders at firms who are pushing for a return to pre-pandemic working arrangements fear their company’s inflexibility will leave them at a disadvantage.

President Biden’s flurry of recent picks to the Federal Reserve’s Board of Governors would shape the central bank’s leadership for years to come. They also would bring unprecedented diversity to the 108-year-old institution. If Mr. Biden’s five nominees are confirmed by the Senate, the seven-member board would include—for the first time—four women and two Black governors.

On Monday, UK Parliament launched a cross-party group of MPs and Lords to cover the crypto and digital assets sector. The group is to act as a forum for parliamentarians, policymakers and the UK crypto sector to discuss policy and regulation in the industry. The news followed last week’s announcement that the New York State Department of Financial Services appointed former Promontory executive Peter Marton as deputy superintendent of virtual currency. Marton commented that “Crypto supervision should be a marathon and not a sprint, and I look forward to continue this effort in earnest.” Fed Chairman Jerome Powell also stoked excitement on Tuesday, stating that a highly anticipated report on cryptocurrencies and CBDCs will be released “within weeks” (though originally scheduled for a September 2021 release). Powell made the statement during a Senate Committee hearing, where Senator Pat Toomey also questioned whether the Fed has authority to act as a retail bank for Americans, asking: “It seems to me that there is absolutely nothing in the history, the experience, the expertise, the capabilities of the Fed that lends the Fed to being a retail bank. Is that a fair observation?” Powell responded: “I would say, yes.” Having previously stated that a CBDC would render privately issued stablecoins to become obsolete, he also told Toomey during the hearing that it is possible the two could co-exist.

A Federal Reserve official warned that the central bank would have to move interest rates up more aggressively this year if inflation stays high through the first half of the year.

Gold, a classic safe haven for risk-averse investors, rose only four percent over the period, implying a market share steal by the high-riding cryptocurrency.In a research note, Goldman Sachs’ co-head of foreign exchange strategy Zach Pandl, suggests bitcoin currently holds a 20% share of the gold/bitcoin store of value market.“Hypothetically, if bitcoin’s share of the ‘store of value’ market were to rise to 50% over the next five years (with no growth in overall demand for stores of value) its price would increase to just over $100,000, for a compound annualised return of 17-18% (accounting for growth in bitcoin supply over time),” he writes. Growth over the next year will provide an acid test for bitcoin.

A recruitment crisis is emerging in the world of law.

A recruitment crisis is emerging in the world of law.

Bank investors are ready for higher Treasury yields.

Bitcoin Cash and SAND correlated with the broader market trajectory and declined below their 4-hour 20-50-200 SMA. They poked their multi-week lows on 8 January while the 20 SMA stood as an immediate hurdle.

“We made the commitment to be one of the top financial institutions serving commercial cryptocurrency and digital asset institutions and we understand all requirements, pitfalls and the possibilities for crypto customers,” states Sam Sidhu, president and chief executive officer of Customers Bank. “These clients require a financial partner that has the technology and agility to scale with their requirements throughout the entire ecosystem, not just in one or two aspects of their business.”Pennsylvania-based Cuustomers Bank signalled its intention to compete in the digital asset space in October, onboarding cryptocurrency firms as customers and launching a real-time crypto-to-USD payments platfrom utilising the bank’s own internal digital fiat token.Sidhu says: “Our investment in building out the best crypto and digital asset team signals we are a serious participant in this space and committed to this business line for the long term.

Google infringed on audio patents held by Sonos Inc. and is barred from importing some of its Nest audio speakers and other violating products, a U.S. trade agency ruled on Thursday.

Gold, a classic safe haven for risk-averse investors, rose only four percent over the period, implying a market share steal by the high-riding cryptocurrency.In a research note, Goldman Sachs’ co-head of foreign exchange strategy Zach Pandl, suggests bitcoin currently holds a 20% share of the gold/bitcoin store of value market.“Hypothetically, if bitcoin’s share of the ‘store of value’ market were to rise to 50% over the next five years (with no growth in overall demand for stores of value) its price would increase to just over $100,000, for a compound annualised return of 17-18% (accounting for growth in bitcoin supply over time),” he writes. Growth over the next year will provide an acid test for bitcoin.

Although the market sentiment had not yet flipped, DOT’s 20 SMA crossed its long-term SMA’s, hinting at an increased bullish vigor. 

British socialite Ghislaine Maxwell was found guilty on five of six criminal counts in her sex-trafficking case, capping federal prosecutors’ push to bring the longtime confidante of disgraced financier Jeffrey Epstein to justice.

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Bitcoin has been playing it safe, close to the $50K mark for the last five days as the larger market’s trajectory looked largely bullish, as the new year approaches. After three short-term recoveries, BTC’s trajectory finally managed to make higher highs with the price safely above the $50K mark.