The chief investment officer of Goldman Sachs’ Wealth Management unit does not see cryptocurrency as an investment asset class. She also believes that bitcoin “creates absolutely no value in any shape or form.” Her perspective differs from that of some other Goldman Sachs executives regarding bitcoin and cryptocurrencies. ‘We Do Not Think It Is an […]
In a modest yet positive development, U.S. spot bitcoin exchange-traded funds (ETFs) saw a net inflow of $ 39.5 million, even as the ETF ARKB experienced a substantial outflow of $ 87.5 million. Despite ARKB’s significant outflow surpassing that of GBTC, Grayscale’s Bitcoin Trust also faced a reduction, with approximately $ 81.9 …
A class action lawsuit has been filed against the National Basketball Association (NBA), accusing the league of gross negligence through its marketing agreements with the now-bankrupt crypto exchange Voyager Digital Holdings, leading to investor losses of over $ 4.2 billion. NBA Hit With Class Action Lawsuit Over Alleged Negligent Crypto Promotions The NBA is …
Financial giant Vanguard has explained why the firm does not make spot bitcoin exchange-traded funds (ETFs) available on its trading platform. A Vanguard executive stressed that cryptocurrency is “an immature asset class that has little history, no inherent economic value, no cash flow, and can create havoc within a portfolio.” Vanguard Explains Why It Disallows […]
International Monetary Fund (IMF) chief Kristalina Georgieva sees crypto as an asset class, not money. She dismissed concerns of bitcoin potentially displacing the U.S. dollar as the world’s dominant currency, citing the size of the U.S. economy and the depth and sophistication of its capital markets as key factors. IMF Chief on Crypto and US […]