Blackrock CEO Larry Fink has emphasized bitcoin’s growing legitimacy as an investment, calling it an alternative to commodities like gold. “We believe bitcoin is an asset class in itself,” said the CEO of the world’s largest asset manager. Fink downplayed regulatory changes, arguing broader acceptance and liquidity will drive market expansion. With the firm’s bitcoin…
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In a recent interview, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, emphasized the significant role of hedge funds in gold’s ongoing price surge. McGlone shared his insights on the impact of macroeconomic factors, including China’s economic slowdown and the Federal Reserve’s monetary policies, on the commodities market. Gold Eyes $3,000 Mark Amid Hedge Fund…
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William Koo Ichioka has been ordered to pay over $36 million after admitting to a forex and digital asset fraud scheme. His scam, which started in 2018, involved falsifying financial documents and misusing investor funds for personal luxuries like cars and jewelry. In addition to financial penalties, Ichioka faces prison time. The Commodity Futures Trading…
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During his Senate testimony, the chairman of the Commodity Futures Trading Commission (CFTC) emphasized the necessity of federal legislation to regulate digital commodities such as bitcoin and ether. Citing market volatility and fraud, the chairman advocated for expanded regulatory powers to safeguard investors and maintain financial stability. He also referenced a recent court ruling that…
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The World Gold Council, an authority in global gold markets, expects the recent gold price rally to continue, supported by geopolitical risks, steady central bank purchases, and demand for coin and jewelry. The council also sees gold ETFs fueling a future rise in prices given their precious metal’s low ownership levels. World Gold Council Paints…
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Bloomberg’s commodity market expert Mike McGlone warns of a potential downturn for bitcoin, highlighting its disappointing performance against gold since its peak in 2021. On Sunday, McGlone pointed out that the bitcoin/gold ratio had plummeted by about 40% from its 2021 zenith of 37 times.
McGlone Highlights Bitcoin-to-Gold Ratio, Warns of Potential Downturn vs Gold…
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Two of the CFTC’s crypto tipsters scored $15 million alone which brought successful enforcement cases for the regulator. The United States commodities regulator has paid $16 million this year to whistleblowers who gave information leading to successful enforcement actions with a majority of the tips involving crypto. In an Oct. 31 statement, Commodity Futures Trading…
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The U.S. Commodity Futures Trading Commission (CFTC) charged the former CEO of bankrupt cryptocurrency lender Voyager Digital with fraud. The regulator accused Stephen Ehrlich and the company of luring investors with promises of high-yield returns while breaking derivatives rules. Ehrlich was also sued by the Federal Trade Commission (FTC). U.S. Commodities Regulator Takes Legal Action…
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The U.S. Commodity Futures Trading Commission (CFTC) has issued orders against the operators of three decentralized finance (defi) protocols. The regulator accused them of committing various violations of commodity laws including illegal trading of digital asset derivatives. U.S. Commodities Regulator Settles Charges Against Defi Protocols Opyn, Zeroex, Deridex The CFTC has taken action regarding three…
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Bitcoin price is closely linked to several financial assets but the reasons for correlation with certain precious metals and stocks can be quite different. The financial media often points out Bitcoin’s (BTC) correlation to big tech. “Bitcoin is trading like a tech stock” is a common narrative alongside BTC’s often acute inverse-relationship with the United…
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