McLaren unveil cyberpunk-inspired Formula 1 livery September 27, 2022 Formula 1 team McLaren have unveiled a new, bespoke, livery to be used at this weekend’s Singapore Grand Prix. The new-look car has a cyberpunk-inspired look to its flank whereby the apparent interior is painted on the exterior. The livery has been unveiled in partnership with crypto exchange firm OKX, who also have a partnership [...]
FCA: Crypto exchange FTX may be operating in UK without authorisation September 19, 2022 Britain’s Financial Conduct Authority said on Friday cryptocurrency exchange FTX may be offering financial services or products in the UK without its authorisation. FTX is one of the world’s largest crypto exchanges, raising its profile this year by acting as crypto’s white knight, throwing lifelines to digital asset platforms which have faltered as cryptocurrency prices [...]
Digital gold or fool’s gold: is crypto really a hedge against equity risk? September 14, 2022 | City Talk Crypto enthusiasts often claim that digital coins and tokens are uncorrelated with equities and can provide a safe haven amid stock market crashes. The assumption is that cryptoassets will act like “digital gold,” serving as a hedge against equity risk and helping investors ride out such downturns. Such bold claims beg for examination, especially amid [...]
Claimants pile into Dogecoin lawsuit against Elon Musk September 8, 2022 A $258bn lawsuit accusing Elon Musk of running a “crypto pyramid scheme” to bolster the price of Dogecoin has expanded to include seven new claimants and six defendants, including The Boring Company. The lawsuit, first filed in a New York federal court in June, accuses the world’s richest man of running a ponzi scheme by [...]
Ed Warner: Andrew Strauss, ECB and What It Takes To Win September 1, 2022 It doesn’t yet look like a camel, but Andrew Strauss’s committee to propel English cricket to the top of the world and keep it there has come up with a discussion document that doesn’t quite resemble a thoroughbred racehorse. Once it’s been through the wringer of consultation with the members of the 18 first class [...]
Mastercard strikes deal with Binance to launch crypto payments card August 24, 2022 Mastercard is set to launch a cryptocurrencies payments card, after striking a deal with Binance, the world’s largest crypto exchange. The crypto debit card will let users pay for everyday purchases using various cryptocurrencies, including Bitcoin, that they have stored in their Binance accounts. The payments card, which converts cryptocurrencies into fiat currency, is set [...]
Navigating systemic risks: Ukraine, climate and crypto August 23, 2022 | City Talk “You cannot anticipate exactly how these risks or dangers are going to play out… But we should be pretty assertive in insisting that we need certain principles, including enough capital buffers — that is, equity unencumbered by any kind of contingent debt or anything like that — that can really withstand shocks in the core [...]
Abrdn snaps up stake in London crypto startup Archax August 13, 2022 Scottish asset manager Abrdn has bought a stake in the UK’s first regulated crypto trader Archax in a major vote of confidence in blockchain technologies and cryptocurrencies. The acquisition, for an undisclosed sum, will see Abrdn become the crypto startup’s largest external shareholder, the crypto firm said in a statement. Launched in 2018, Archax is [...]
More than 90 per cent of IFAs would not suggest crypto to clients August 11, 2022 Over 90 per cent of Independent Financial Advisors (IFAs) in the UK would not recommend crypto investments to clients. Following the recent crypto crash that saw prices of major cryptocurrencies plunge, 93 per cent of IFAs say they would not advise clients to invest in crypto, research by strategic insight firm Opinium found. The “crypto [...]
Coinbase sheds £0.9bn in second quarter as revenues plunge amid crypto crash August 10, 2022 Crypto giant Coinbase lost $1.1bn ($0.9bn) in the second quarter of the year as revenue dropped declined during the crypto crash. $446mn (£365m) of this loss was due to an impairment charge on the exchange’s crypto and venture investments as the “crypto winter” led to plummeting cryptocurrency prices and caused widespread losses across the industry. [...]