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Bitcoin News Roundup for May 27, 2020
While the yuan weakens against the U.S. dollar, Coinbase makes an acquisition to grow its institutional trading infrastructure. It's another episode of CoinDesk's the Markets Daily podcast.
Updated Dec 11, 2022, 7:30 p.m. Published May 27, 2020, 4:00 p.m.
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While the yuan weakens against the U.S. dollar, Coinbase makes an acquisition to grow its institutional trading infrastructure. It's Markets Daily from CoinDesk.
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This episode is sponsored by ErisX, The Stellar Development Foundation and Grayscale Digital Large Cap Investment Fund.
Today's stories:
Slipping Yuan May Be Good for Bitcoin Price, Past Data Suggests
With historical data suggesting an intermittent correlation, bitcoin traders may do well to keep an eye on the ongoing slide in the yuan, analysts say.
ErisX Releases API for Bulk Trading of Bitcoin, Ether
ErisX has released a block trading API for futures contracts and spot market trades to help large traders.
Coinbase Buys Tagomi as 'Foundation' of Institutional Trading Arm
Crypto exchange Coinbase is finally acquiring Tagomi, a prime brokerage platform specializing in digital asset trading for institutional clients.
Brazilian Retailer Eyes Services for the Unbanked With Acquisition of FinTech Firm Airfox
Via Varejo snapped up the Boston-based firm to further its aim of providing financial services to millions of unbanked Brazilians.
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Bitcoin could fall to $10,000 as U.S. recession risk builds, Mike McGlone says
McGlone links bitcoin’s downturn to record U.S. market cap-to-GDP levels, low equity volatility and rising gold prices, warning of potential contagion into stocks.
知っておくべきこと:
- Bloomberg Intelligence strategist Mike McGlone warns that collapsing crypto prices and a potential bitcoin slide toward $10,000 could signal mounting financial stress and foreshadow a U.S. recession.
- McGlone argues the post-2008 "buy the dip" era may be ending as crypto weakens, stock market valuations sit near century highs relative to GDP, and equity volatility remains unusually low.
- Market analyst Jason Fernandes counters that a drop to $10,000 bitcoin would likely require a severe systemic shock and recession, calling such an outcome a low-probability tail risk compared with a milder reset or consolidation.
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