By Nell Mackenzie
LONDON (Reuters) – Hedge funds trading crypto currencies tracked by index provider BarclayHedge ended 2022 down almost 50%, the research firm said on Tuesday, a sign that the collapse of the cryptocurrency exchange FTX continues to ripple through the industry.
FTX filed for Chapter 11 bankruptcy protection in the United States in November following its spectacular collapse that sent shivers through the industry.
Ben Crawford, head of research at BarclayHedge, said since FTX fell to pieces, the conversation around trading crypto currencies had become polarised and that "true believers" in crypto were "cranking up their evangelizing to 11."
"The more skeptical voices have turned to openly wondering if the 'Crypto Winter' isn’t a season at all, but a state more akin to a nuclear winter," said Crawford.
An index of 47 hedge funds, the names of which BarclayHedge keeps anonymous, posted a loss of over 47% for the year, the data said.
But the 2022 result was not the worst performance the index has seen in the last five years. The Cryptocurrency Traders Index ended 2018 down over 60%, said BarclayHedge, which is part of the company Backstop Solutions.
However, the average 5-year performance of the index if an investor was able to hold to their position would have been over 46%, BarclayHedge data said.
(Reporting by Nell Mackenzie; Editing Yoruk Bahceli, William Maclean)
Waddell & Associates CEO and Chief Investment Strategist David Waddell joins Yahoo Finance Live to discuss inflation, U.S. economic growth, the reopening in China, and more.
(Bloomberg) — Bob Prince, who helps manage the world’s largest hedge fund, said we’re seeing the return of the boom-bust cycle and more people need to lose their jobs before inflation will be brought under control. Most Read from BloombergChina’s Population Shrinks for First Time Since 1960s in Seismic ShiftLarry Fink Says ESG Narrative Has Become Ugly, PersonalMicrosoft to Cut Engineering Jobs This Week as Layoffs Go DeeperScholz Sees Germany Riding Out War in Ukraine Without RecessionStocks S
CRYPTO UPDATE Most of the largest cryptocurrencies were up during morning trading on Tuesday, with Polkadot (DOTUSD) seeing the biggest change, rallying 2.67% to $6.00. Six additional currencies posted raises Tuesday.
Developers are mainly focusing on alternative ecosystems to Bitcoin and Ethereum, helping them grow faster, the VC firm said in a report.
In this article, we discuss 13 best communication services stocks to invest in. If you want to see more stocks in this selection, check out 5 Best Communication Services Stocks To Invest In. According to UBS Global, there are three primary revenue and earnings drivers for the communication services sector – connectivity, including telecom and […]
Silvergate's losses in Q4 culminated in full-year losses of around $949 million, compared to net income of $75.5 million in 2021.
Overseas investors sold a net $4.89 billion worth of bonds in India, Indonesia, Malaysia, South Korea and Thailand, marking their first-year net outflow since 2016, data from regulatory and bond market associations showed. Indonesian bonds witnessed outflows of $8.86 billion last year, the most since at least 2014, while Malaysian and Indian bonds had net sales worth $2.1 billion and $2.02 billion. "Indonesian bonds would be expected to benefit most from the lower U.S. rates-lower U.S. dollar environment, while foreign investors are likely piling into Thailand bonds to pre-position for the full recovery in Chinese tourist arrivals," said Duncan Tan, a strategist at DBS Bank.
Hong Kong’s new digital asset-friendly policies could set the city up as the home for secondary NFT marketplaces from China as trading of ‘digital collectibles’ remains a gray area on the mainland.
A jailed Kurdish leader said an attempt to ban his leftist party was part of Tayyip Erdogan's plans to foment "chaos" in Turkey's opposition ahead of elections this year, but said it would not save the president from defeat after two decades in power. In comments to Reuters from Edirne jail in northwest Turkey, Selahattin Demirtas urged the country's main opposition bloc to cooperate with his pro-Kurdish Peoples' Democratic Party (HDP) to win presidential and parliamentary elections expected in May. However, the HDP's own future is far from assured: a prosecutor has sought to close the party for links to Kurdish militants, the culmination of a years-long crackdown against the third largest party in Turkey's parliament.
India's capital market regulator has proposed discontinuing the current practice of an advance transfer of funds to stockbrokers before secondary market trades are executed. Such a move will prevent misuse of client funds, brokers' defaults and the consequent risk to investors' capital, the regulator said in a discussion paper to seek views before it finalises the rule. The Securities and Exchange Board of India's (SEBI) move follows one by the Reserve Bank of India to allow a one-time blocking of funds in bank accounts and multiple debits through the unified payments interface (UPI) real-time payments system.
Founders of Three Arrows Capital, a crypto hedge fund whose bankruptcy in June resulted in potentially billions of losses for investors and creditors, are seeking to raise up to $25 million for their new business.
“Our mission has not changed,” said Silvergate CEO Alan Lane as the crypto bank announced hefty losses for Q4 2022.
Analysts caution that the big rally in Bitcoin prices may soon be overbought, making cryptos primed for a downturn.
Analysts on average expected the company to post annual revenue of $6.56 billion, according to Refinitiv data. Corporate jet makers have reported swelling order backlogs on persistent strong demand for private flying, especially in the United States, the world's largest market for business aviation. That trend has benefited Bombardier, whose stock has risen about 31% in the past year, along with rivals Gulfstream business jet maker General Dynamics Corp and Cessna jet maker Textron Inc, which report earnings on January 25.
A meltdown in cryptocurrency markets over the past year has seen the bank bleed cash, forcing a business restructuring and mass layoffs.
A Twitter influencer got drained of his crypto wallet after clicking a Google Ad that contained malware. Hackers stole at least 19 ETH and a Mutant Ape Yacht Club NFT priced at around $25000. The stolen ETH moved through multiple wallets before being exchanged for other crypto coins on FixedFloat DEX, according to reports.
FTX was just like the ill-fated Fyre Festival: a hollow project fueled by mendacious influencer marketing, says Oxygen's Nemo Yang.
SoundHound didn't disclose the number of jobs being cut when it announced a 40% cost-cutting on Jan. 5.
New York state manufacturing contracted sharply in January as orders collapsed and employment growth stalled, pointing to continued weakness in national factory activity, and little improvement was expected over the next six months. The survey from the New York Federal Reserve on Tuesday offered an early read of conditions in one of the sectors hardest hit by the Federal Reserve's fastest interest rate hiking cycle since the 1980s. National manufacturing has been shrinking since November, according to data from the Institute for Supply Management.
Shares of semiconductor stocks Taiwan Semiconductor Manufacturing (NYSE: TSM), Nvidia (NASDAQ: NVDA), and Skyworks Solutions (NASDAQ: SWKS) were rising on Tuesday, up as much as 3.4%, 4.6%, and 2.2%, before settling into gains of 2.7%, 4%, and 0.6%, respectively, as of 1:42 p.m. ET. The sector-wide optimism was helped along by a positive note from Bank of America semiconductor analyst Vivek Arya this morning, along with continued optimism over moderating inflation and the broader economy. Arya wrote, "We assume a soft-landing (nonmemory semi sales down [less than 5% year over year], also confirmed by recent Taiwan Semiconductor (TSM) results/outlook) as consumer chip inventory correction is completed by [the first half] and as industrial/auto chip pricing remains resilient."
Author
Administraroot
Related Posts
