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...in currency markets at any particular time....
...New York lawmakers have moved to limit how much creditors can recover from defaulted sovereign debt in the state’s jurisdiction, proposing to rewrite the law that governs about half of the foreign currency...
...Amundi is shorting the dollar, although its CIO admitted it was a “tricky” bet given that the currency was a haven asset that could benefit during market shocks....
...According to the SEC complaint, Binance’s unnamed chief compliance officer in 2018 told a colleague: “We are operating as a fking unlicensed securities exchange in the USA bro.”...
...US prosecutors allege the shortfall arose because FTX had transferred or lent billions of dollars of its customers’ money to Alameda, which spent it on crypto investments, venture capital, political donations...
...Leave your credit card in your wallet, don’t go near an ATM, and come armed with US dollars in cash that you can change into pesos on the ground. Not just any dollars, crisp $100 dollar bills....
...In essence, imagine if you could see physical dollar bills flying out of Building A and making their way into Building B....
...Players are then nudged into spending their pounds and dollars — or virtual currencies developed for particular titles, such as Fortnite’s V-bucks — on in-game outfits and guns....
...When US bourses halved in 2008, the Footsie and Nikkei dropped 30 and 40 per cent respectively. It did not matter that the crisis was born in the USA....
...That means to buy a current dollar of profit in the United States, you pay $23. The rest of the world, you’re paying $15. It’s a huge difference....
...The US Department of Justice last week filed charges against Bankman-Fried and accused him of orchestrating “one of the biggest financial frauds in American history” by misappropriating customer assets from...
...During my tenure as chairman of the CFTC, we declared bitcoin and other virtual currencies to be commodities, which gave us authority over the trading of crypto derivatives products....
...Finally, there’s the small matter of currency. Prior to the 2016 Brexit referendum the pound hovered in the $1.50-1.60 range....
...Food and fuel — the cornerstones of the inflation surge — are usually quoted in terms of the US currency....
...The status of China’s BRICS Local Currency Bond Fund initiative is not clear,[v] but in any case its scale would be very small in relation to China’s reserves....
...We operate in the UK, North America, Canada, US and now in the EU plus peripheral Europe. We have a lot of clients in the private equity space and in private credit....
...But Northstar’s grand strategy of YOLO’ing call options on US tech stocks — the now-infamous “Nasdaq whale” trades — quickly incinerated billions of dollars....
...down stocks in their wake and usually boosting the dollar too....
...As ever, reach out to us with your thoughts (imani.moise@ft.com and sid.v@ft.com). Thanks, and happy reading....
...As non-fungible tokens exploded into the mainstream in 2021, gas fees soared, sometimes into the hundreds of dollars per transaction....
...Once properties are purchased, they can be sold locally into currencies that can be more easily exchanged into dollars....
...Tether, the world’s largest issuer of stablecoins, in October agreed to pay a $41m penalty to resolve CFTC’s claims that it had falsely represented its digital tokens as being fully backed by dollars....
...Let us know at Imani.Moise@ft.com or Sid.V@ft.com. Is crypto a risk to sanction enforcement?...
...The Commodity Futures Trading Commission on Friday alleged that Tether — whose digital tokens are pegged to fiat currencies such as the dollar — made misleading statements from at least June 2016 to February...
...Also feeling the heat are traditional financial firms, with US banks already posting results and UK firms due to hit in the next week or so....
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