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...The firm, which manages about $140mn in assets, has profited in recent years from trading discrepancies in prices of tokens such as bitcoin and ether....
...The sites have emerged as an alternative for trading and establishing an unofficial price for the Nigerian currency....
...Earlier this year, Arbitral filed a claim in London alleging Britannia Financial failed to pay the full price for a Bahamas-based brokerage it sold to the group in June 2021....
...As always, email me at scott.chipolina@ft.com. Join me and fellow colleagues at the FT’s flagship Crypto and Digital Assets Summit on May 8-9 in London....
...that wiped out several companies and pushed the price of tokens such as bitcoin to multiyear lows....
...Since the start of this year, bitcoin’s price has surged more than 60 per cent....
...“It’s a business model that’s based more than ever on faith that bitcoin’s price will go up and demand for it will grow.”...
...Since the newly approved league of ETFs started trading on January 11, bitcoin’s price has risen sharply....
...As always, email me at scott.chipolina@ft.com....
...Comair said: “It’s not just a spectacular jump in price, it’s also a paradigm shift for bitcoin....
...Coinbase’s revenue surged 45 per cent in the last quarter as the cryptocurrency exchange positions itself for a favourable run fuelled by rising crypto prices....
...As always, send me your thoughts at scott.chipolina@ft.com....
...As always, email me at scott.chipolina@ft.com. Weekly highlights A classic crypto price story hit the wires this week when bitcoin traded above $50,000 for the first time in two years....
...The event, which happens every four years, is expected to push bitcoin’s price up in the long term, analysts say. Scott Chipolina Will progress on the Fed’s preferred measure of inflation stall?...
...The price of bitcoin sank as much as 3 per cent on Tuesday, dipping below $39,000 for the first time since early December, before recovering slightly in afternoon trading....
...“There aren’t any fundamentals to bitcoin which give an anchor to the price, which makes it more vulnerable than other assets to major swings,” he added....
...At the time of the transactions, this came to roughly $400mn, but by today’s sky-high prices it equates to roughly $84bn....
...But despite widespread anticipation over their launch the price of bitcoin fell roughly 15 per cent in the days following the SEC’s approval....
...Cryptocurrency exchange sites have become alternative marketplaces to set an unofficial price for the naira, and Binance is the most used in the country....
...As always, email me at scott.chipolina@ft.com. Christmas highlights We were off for Christmas but crypto never stops. Here’s some highlights from the holiday period....
...Crypto exchanges have become important conduits to establish unofficial market prices for the naira. The prices quoted on Binance often serve as a benchmark for local foreign currency exchange rates....
...All Binance did was facilitate peer-to-peer transactions without determining the price people were willing to pay.”...
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