Mirror Trading International Named Biggest Crypto Scam of the Year After Raking in $589 Million – Regulation Bitcoin News
Mark Viduka, 05 April 2021
Blockchain evaluation agency, Chainalysis’ newest crime report has named Mirror Buying and selling Worldwide (MTI) as the largest cryptocurrency rip-off of 2020. Chainalysis arrived at this conclusion after an investigation discovered that MTI had taken in $589 million from greater than 471,000 deposits. In line with the report, MTI’s haul is considerably greater than that of Forsage and J-enco, the following greatest scams. Each scams raked in lower than $350 million every. Continue reading “Article: Mirror Trading International Named Biggest Crypto Scam of the Year After Raking in $589 Million – Regulation Bitcoin News”
Man Group Dials Up Short Bets as Turkey Stirs Fragile Five Fears
Ben Bartenstein, 03 April 2021
The market meltdown following Turkey’s central-bank shakeup is reviving a longtime debate among the world’s largest money managers and Ivy League economists over the vulnerability of developing nations.
Doomsayers including Man Group Plc, the world’s biggest publicly listed hedge-fund firm, and the Institute of International Finance’s chief economist Robin Brooks warn that the turmoil battering Turkish securities could ripple across emerging markets in a repeat of the 2013 taper tantrum. Yet that gloomy scenario isn’t the dominant narrative in the hallways of Pacific Investment Management Co., BlackRock Inc. and Ashmore Group Plc, which have some of the largest exposures to the nations that might be next in the crosshairs. Continue reading “Article: Man Group Dials Up Short Bets as Turkey Stirs Fragile Five Fears”
South Africa should restrict rand access for offending foreign banks
David Whitehouse, 19 December 2019
A call from South Africa’s competition regulator to be given extra-territorial powers to prosecute foreign banks whose actions affect South Africans has drawn short shrift from investors.
After an investigation into alleged collusion by 23 banks, ten of which have no presence in South Africa, to co-ordinate on spot dollar and rand prices, the Competition Commission recommended fines totalling 10% of the banks’ global revenues.
The banks involved, which include JPMorgan Chase, Bank of America Merrill Lynch and Credit Suisse, argue that the case should be dropped. The country’s Competition Tribunal in July ruled that the commission had no jurisdiction to impose the fines. Continue reading “Article: South Africa should restrict rand access for offending foreign banks”
Currency wars and the emerging-market countries
Richard Portes, 04 November 2010
The headlines shout “currency wars”. The US believes China engages in “currency manipulation”. The authorities hesitate to declare this to the US Congress, and the Secretary of the Treasury says “competitive non-appreciation” instead. China accuses the US of excessively loose monetary policy, flooding the world with liquidity. There is some truth in both charges, but some exaggeration.
This is one of the key issues facing the G20. Exchange-rate pressures, global imbalances and rebalancing, spillovers and the desirability of policy coordination – these are at the centre of the economic interdependence between the developed and emerging market countries. All this is in the context of weak US and European recoveries from the Great Recession, the risk of deflation, and the likelihood of more quantitative easing (QE) by major central banks. Domestic issues and inability to get direct action on exchange rates has led the US to propose internationally agreed targets for current-account imbalances. The wheel goes round – these proposals bear some resemblance to those of Keynes at Bretton Woods, which the US then opposed.
Read Full Article