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...“Bitcoin is going to be worth more in the future than it is today,” said Asher Genoot, chief executive of Hut 8, a US miner....
...Join me and fellow colleagues at the FT’s flagship Crypto and Digital Assets Summit on May 8-9 in London....
...South Korea’s currency fell 0.8 per cent against the dollar to Won1390.90....
...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...
...The mess surrounding Kate Middleton’s apparent disappearance from the public eye tells us absolutely nothing about bitcoin....
...Email me at philip.stafford@ft.com Join me and my colleagues at the FT’s flagship Crypto and Digital Asset Summit on May 8-9 in London....
...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...
...It suffered the biggest drop among major currencies in the world this month, falling nearly 4 per cent. The currency has lost 8.7 per cent of its value this year....
...Ether, the second most popular cryptocurrency, is down 8 per cent in the past week. Rival coins dogecoin and cardano are down 4 per cent and 12 per cent respectively....
...As of Friday afternoon, the single currency was down 1.8 per cent on the week, the biggest weekly decline since September 2022....
...That forced us to follow through.” Strategists also pointed out that the Chinese currency has historically been influenced by the US dollar’s performance against the euro....
...South Korea’s currency declined 0.8 per cent to trade at Won1,330.50 per dollar, the yen slid 0.3 per cent to ¥146.15, while the Australian dollar fell 0.7 per cent to US$0.66....
...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....
...Increasingly the US asset manager he heads is the star around which the digital assets solar system orbits....
...Its neighbours on Mahé island include KuCoin, whose founders are under investigation by US authorities over alleged anti-money-laundering failings....
...Currency markets continued to price in the prospect of US interest rates remaining elevated for longer than previously expected....
...This led us to a rather strange juxtaposition this month, when in just one week, three notable things happened....
...Join me and fellow colleagues at FT’s flagship Crypto and Digital Assets Summit on May 8-9 in London....
...“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...
...The core measure, which strips out the volatile food and energy sectors and is the one most closely watched by the Fed, is expected to come in at 2.8 per cent, the same rate as the previous month....
...The administrators have agreed to sell about two-thirds of the 8 per cent stake in Anthropic for about $884mn to a group of 22 investors, including ATIC and Jane Street, according to filings on Friday....
...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....
...BlackRock’s operating margin improved to 35.8 per cent, slightly better than analysts expected....
...Hong Kong is the most exposed to “higher for longer” interest rates in the US because its currency is pegged to the dollar, meaning the city’s monetary policy moves in lockstep with the Federal Reserve....
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