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MARKETS DAILY: China Picking Winners While Traders Wonder
This time we're talking winners and losers in China's increasingly top-down crypto industry, the implications behind former CFTC chairman Giancarlo's just-announced move to white-shoe law firm Willkie Farr & Gallagher, and more.
Updated May 2, 2022, 3:55 p.m. Published Dec 3, 2019, 4:44 p.m.
Tune in as CoinDesk podcasts editor Adam B. Levine and senior markets reporter Brad Keoun run down recent action in the markets, interesting longer-term trends and some of the most important crypto industry developments of the day.
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On today’s episode:
- Crypto and traditional markets update
- China's increasingly top-down crypto Industry
- Former CFTC chair Giancarlo joins Willkie Farr and Gallagher
- Stolen UpBit Ether Moving On the Blockchain
⚠ 10,000 #ETH (1,468,690 USD) of stolen funds transferred from Upbit Hack Nov 2019 to unknown wallet
— Whale Alert (@whale_alert) December 3, 2019
Tx: https://t.co/ajrvYLxFud
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Bank of Japan Set to Hike Rates to 30-Year High, Posing Another Threat to Bitcoin
Rising Japanese rates and a stronger yen threaten carry trades and could pressure crypto markets despite easing U.S. policy.
Wat u moet weten:
- According to the Nikkei, the Bank of Japan (BoJ) is set to increase interest rates to 75bps, the highest level in 30 years.
- Rising Japanese funding costs, alongside falling U.S rates, could force leveraged funds to reduce carry trade exposure, increasing downside risk for bitcoin.
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