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...Bitcoin trading has leapt this year following the US launch of ETFs tracking the cryptocurrency....
...Major Asian currencies weakened against the dollar on Monday, with the South Korean won leading losses, down 0.27 per cent against the dollar to Won1,354.60, its weakest level since October....
...The price of bitcoin has soared despite US regulators’ clampdown on the biggest crypto companies and continued scepticism about the token....
...Authorities alleged the two men implemented a network of more than 60 websites that published staged videos and were designed to impersonate legitimate news websites....
...Read our full range of US High School economics picks here....
...In currency markets, the strong retail sales figures boosted the US dollar index, which tracks the world’s dominant currency against six international peers....
...Roger W Kirby Millbrook, NY, US...
...Escalating tensions in the Middle East following Iran’s attacks on Israel and growing expectations that the Federal Reserve will delay rate cuts have boosted the US currency....
...Bitcoin surged to a record high of $73,800 in mid-March but has dropped more than 14 per cent this month, to less than $60,000 on Wednesday....
...The dollar’s latest move against the yen followed stronger-than-expected data for US inflation in March, which pushed out market expectations for the timing of US interest rate cuts and sent bond yields...
...A six-month lock-up period prevents Trump from cashing out his shares just yet but his roughly 60 per cent stake is still worth — on paper, at least — almost $4bn....
...Supported by the world’s largest economy, the currency is a magnet for nearly 60 per cent of all central banks’ foreign exchange reserves....
...However, net inflows of $57bn disappointed, as investors remain cautious about leaving cash to go back into equity and debt markets while the US Federal Reserve keeps interest rates at a 23-year high....
...Gold continued rising to reach new all-time highs, adding 0.7 per cent to $2389.60 per troy ounce....
...a strong dollar and expectations of a delay in US rate cuts....
...The dollar, meanwhile, slipped 0.2 per cent against a basket of six other major currencies....
...If you can’t trust them, you can’t trust anyone in the US financial system,” he added....
...At one point this week, bitcoin fell as low as $60,760....
...The price has surged since US regulators in January approved spot bitcoin exchange traded funds issued by Wall Street stalwarts including Fidelity and BlackRock, the world’s largest asset manager....
...Bitcoin has surged to record highs this year after US regulators approved spot bitcoin ETFs in January following a decade of rejections....
...Invesco and WisdomTree have slashed fees by more than 60 per cent on European bitcoin products as an “unprecedented” number of new exchange traded funds have become available to US investors....
...Expectations of fewer US rate cuts have also sparked a slump in emerging market currencies against the dollar, prompting interventions by Asian central banks, including Indonesia and South Korea....
...As of March 14, bitcoin ETFs had vacuumed up a net $10.6bn year-to-date globally, even accounting for chunky outflows from the Grayscale Bitcoin Trust (GBTC), at $23.7bn still the world’s largest such vehicle...
...The US group said on Thursday it would waive fees for 60 days for customers wanting to trade cryptocurrencies on its professional market, if they have traded more than $500,000 a month on a rival exchange...
...Soundbite of the week: Crypto crime vs dollar crime One of my pet peeves covering this industry is the lazy argument that more money is laundered via the US dollar and other major world currencies than...
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