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...The firm, which trades tens of thousands of products, including currencies, exchange traded funds and options, reported profits of $5.9bn in 2023 and $6.7bn in 2022....
...Figures released on Wednesday by international payments platform Swift showed the renminbi’s share of global payments had climbed to 4.6 per cent in November, up from 3.6 per cent a month before....
...In currency markets, the strong retail sales figures boosted the US dollar index, which tracks the world’s dominant currency against six international peers....
...Wage growth for job changers accelerated from 7.6 per cent in February to 10 per cent in March, which could cause trouble for policymakers trying to tame inflation....
...Japan’s benchmark Topix climbed 0.6 per cent in early trading, while Hong Kong’s Hang Seng index shed 1.6 per cent....
...There are about 6,300 tokens issued weekly by bitcoin but the ETFs have bought around 50,000 coins in that period. QED....
...Asian markets declined on Friday with the exception of Japan, as traders reacted to the increased likelihood of fewer interest rate cuts in the US....
...The yen continued to strengthen against the dollar, rising 0.05 per cent to ¥147.00 as traders priced in forthcoming interest rate cuts from the US central bank....
...Shifting US rate expectations also hit currency markets, pushing the Indian rupee to a record low and the Indonesian rupiah to its weakest in four years against the dollar....
...Bitcoin prices are at fresh record highs in many currencies. In dollars the cryptocurrency is up more than 40 per cent over the past month. The $69,000 intra day high set in 2021 is within reach....
...“Putting $50bn to $70bn or greater at risk, on a daily basis, in the world’s major currencies should be a significant concern,” warned Efama in a paper published on Thursday....
...The inflows into 11 new bitcoin exchange traded funds that received US regulatory approval in January went into reverse this week....
...“The BoI did a pretty good job defending levels beyond 4.00 per US dollar and the disclosure of central bank FX [currency] intervention firepower managed to suppress speculative short shekel flows,” said...
...Stock markets in Asia fell on Wednesday as traders priced in the possibility that the US Federal Reserve would be slower to cut rates than previously expected....
...Bitcoin rose as much as 12.6 per cent to hit $63,968 on Wednesday, before falling back to about $60,000. The rally has brought its gains to 42 per cent in the first two months of this year....
...The pound climbed 0.6 per cent to a seven-month high of $1.2893 against the US currency on Friday, before paring gains to end the week at $1.2857....
...However, the monthly rate fell to 13.2 per cent on average in February from a 20.6 per cent rise in January — a sharper decline than most economists expected....
...Coinbase’s attempt to kick-start its institutional business came only three weeks after US regulators approved the first bitcoin exchange traded funds, a move that was expected to help reshape trading in...
...Nor is the US the only country fretting....
...K33 estimated that 843,000 of those bitcoins under management were in the control of US-based investment firms, if US futures-based ETFs were included in the calculations....
...The EU’s Markets in Crypto Assets will start taking effect towards the latter half of the year; in the US half the CFTC’s actions last fiscal year were taken against digital assets....
...Speculation is rife that the US Securities and Exchange Commission will soon approve exchange traded funds that invest in bitcoin directly....
...In fact, the latter at 10.6 per cent is by far the biggest stock in the ETF — almost twice the size of number two. Which is? Actually, it is another fund: the iShares MSCI China A ETF....
...When Nvayo filed its most recent accounts on April 6, 2023, little distinguished the London-based payments company from the other 300 or so e-money firms then regulated in the UK — except, perhaps, rude...
...If you can’t trust them, you can’t trust anyone in the US financial system,” he added....
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