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A double-whammy of falling inflation and an unfriendly regulatory environment in the US has lessened bitcoin’s appeal, according to Paul Tudor Jones, founder of the $12 billion hedge fund firm Tudor Investment Corporation.
Speaking on CNBC’s Squawk Box, Jones said: “Bitcoin has a real problem because in the United States, you have the entire regulatory apparatus against it.”
And Jones – who in the past has cited bitcoin as an inflationary hedge – believes that with US inflation likely to continue falling, his sentiment towards the cryptocurrency is now far less bullish.
Back in 2020, Jones said the he
Digital asset investment products saw a fourth consecutive week of outflows with $54 million withdrawn, bringing total outflows to $200 million, or 0.6% of total assets under management, according to the latest CoinShares Digital Assets Fund Flows Report.
Hedgeweek analysis finds that commodities are once again back in vogue. Tor Andre Svelland, CEO and CIO of Svelland Capital details how the Svelland Global Trading Fund is taking advantage of this shift.
Daniel Loeb, the founder of hedge fund Third Point Capital, has scrapped plans to acquire global speciality insurers SiriusPoint Ltd according to a report by Reuters citing a regulatory filing made on Friday.
The Credit Derivatives Determinations Committee will meet on Tuesday to consider whether a “governmental intervention credit event” occurred when Credit Suisse Group AG’s Additional Tier 1 bonds were written down as part of the Swiss Bank’s rescue by rival UBS, according to a report by Bloomberg.
If the panel of about a dozen banks and asset managers decides it did, it would be the first step in determining whether credit default swaps linked to the Swiss bank will be triggered and could potentially lead to a payout for a number of hedge fund firms.
Both FourSixThree Capital and Diameter Capital
Close Brothers has attracted the attention of hedge fund short sellers with the funds betting on a big drop in the value of the British merchant bank amid wider concerns about the health of the global banking sector, according to a report by the Daily Mail.
Falling volatility has seen a number of algorithmically driven hedge funds ramp up the rate of their stock buying to one of the fastest levels in a decade, according to a report by The Financial Times, citing data from bank trading desks.
London-based activist investor Covalis has lost its boardroom battle at Italian power utility company Enel, after shareholders elected Flavio Cattaneo as CEO and General Manager, and another five candidates proposed by the Italian government to the board of the utility, defeating Covalis’ alternative slate, according to a report by Reuters.
The total volume on the global power markets of EEX Group in April increased by 29% to 661.9 TWh compared to the same month of the previous year. Both the European Power Spot Markets – operated by EPEX SPOT (+11%) – and the EEX European Power Derivatives Markets (+36%) recorded volume increases.
Trading in German Power Futures rose by 45% compared to the same period of the previous year. An additional driver of these developments was trading in French Power Futures, which recorded an increase of 41%.
The Japanese Power Futures achieved 394% growth against April 2022, reaching its second
Chase Coleman’s technology-focused investment manager Tiger Global is exploring options to cash in a part of its $40 billion portfolio of privately held companies through secondary market sales, according to a report by Bloomberg.
