FirstFT: Wall Street Trading Groups Boost Crypto Markets

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Some of Wall Street’s biggest trading companies have announced plans to bet in the crypto market, opening new fronts in the fight to win profitable businesses from institutional investors.

Jump Trading, GTS, Jane Street, one of the biggest players in the US stock market, Strengthening digital asset trading After years of secrets.

These are some of the most competitive trading companies fighting for any transaction in the global equity, currency and futures markets. Institutional investors are drawn to high yields, and many are keen to bring this know-how to the crypto market.

This puts them in competition with specialist crypto trading companies such as Genesis, B2C2, and Bequant. Mina Nguyen, head of institutional strategy at Jane Street, told the Financial Times:

“We are seeing a significant increase in institutional interest and are actively sharing our expertise to support a more efficient crypto market.”

Thanks to all readers who voted for yesterday’s vote vote.. Three quarters of you disagreed with Cathie Wood of ArkInvest that Bitcoin is worth $ 500,000 in five years. Have a good weekend. The rest of today’s news is – Gordon

5 other articles in the news

1. The United States tries to appease the anger of France US Secretary of State Antony Blinken said France was an important partner in trying to calm anger in Paris in the aftermath of the United States’ unveiling of a new naval security agreement between Australia and Great Britain. Brittany.

  • Other Chinese News: China has called for bids to participate in a comprehensive and progressive agreement on the Trans-Pacific Partnership (formerly the Trans-Pacific Partnership). The trade deal was originally designed by Washington to limit Beijing’s growing economic and political influence in the region.

2. Powell Orders Overhaul After Federal Reserve Moves Inventory Off Road
The Federal Reserve Board said yesterday it was reviewing its ethical guidelines on how senior officials can participate in financial markets after a conflict of interest issue arose over the investment activities of the two regional presidents .

3. Unannounced ECB inflation forecasts increase prospects for anticipated rate hikes European Central Bank Elusive 2% inflation An unpublished internal model suggests it has set itself a target by 2025 and is set to hike interest rates in just over two years.

4. World Bank Survey Finds IMF Chiefs Push Staff To Raise China’s Rankings IMF Managing Director Cristalina Georgieva, according to a World Bank survey, artificially raises China’s ranking in lender Doing Business’s influential annual report.

5. “Roaring Kitty” Meme Stock Trading Fines Mass Mutual US Insurance Companies Fined $ 4 Million Millions of day traders have been urged to increase GameStop’s share because they couldn’t properly supervise Keith Gill, a former employee who posted the video under a pseudonym such as “Roaring Kitty”.

Coronavirus digest

  • Canada First country to fully approve Moderna’s Covid-19 vaccine. Meanwhile, analysts forecast revenue of Pfizer When Modane The coronavirus hit will drop sharply by 2024.

  • retail sales in the United States It rebounded in August as shoppers racked up school supplies and home decor. Willingness to spend.

  • Italy Make Covid-19 a “green pass” Obligation For most workers in the public and private sectors, despite opposition within the ruling party.

  • Tim harford Have some advice How to deal with Covid hesitation.

Future days

Pfizer Booster Jab FDA Weighing Expert Panel To Meet Provide US drug regulatory authorities with official recommendations on whether to authorize the application of the company’s recall jabs.

Manchester United turnover The British Premier League team are today announcing their annual results and financial outlook for next year. Investors are seeking details of the successful deal with Cristiano Ronaldo and how quickly the club can return to growth after a pandemic.

Energy and climate conference President Joe Biden in other countries Join US and EU pledged to reduce methane pollution by 30% over the next decade.

Defense negotiations Mark Rutte, the Prime Minister of the Netherlands, and Boris Johnson, his British counterpart, meet in London today to discuss greater cooperation between the UK and the EU on issues of defense and security.

Election of the Russian Duma Three days of voting in parliamentary elections, voting will take place today across Russia.. United Russia pro-Kremlin Party Hold this majority in the House of Representatives.

What else do you read and watch

Did it make sense to occupy Wall Street? The 2007-08 financial crisis, triggered by predatory home loans and excessive risk-taking, resulted in a debt crisis, massive layoffs and homeowners. He also created protests across the world. Let’s see Legacy of the movement, 10 years later.

Looking at the lesser known origins of Occupy, we begin to see the great, deep, angry stripping that still resonates today © Alexandra Clotfelter; Roger Pete; Adbusters

Double democratic standard on wealth inequality Now is the longest and ripe opportunity to correct late Roman inequalities in the United States. Edward Ruth writes … But the fact that Democrats are so shy says a lot. Read more about Edward in the US political newsletter, Swamp note..sign up here ..

Global debt is skyrocketing – and we need to talk about it The rate of expansion required for countries like the United States and China to emerge from current debt levels is staggering. Gillian Tett argues in her that the fact that our global system is tripling and rising deserves a lot more debate, no matter how optimistic you are. on its impact. increase Last column.

Latest Mogul: Lucian Grainge from Universal Music The most powerful CEO in the music industry weighs in on the fight against death, the killer trade and the release of his label. In an industry that has made its own unexpected comeback over the past five years, Universal’s September 21 IPO is the ultimate test of the recovery.

FT Writer’s Biggest Economic Mistake From low interest rates on cards and job purchase contracts to living a healthy life without checking costs, our experts explain how they learned the hard way – as part of our literacy campaign and d financial inclusion.

music

Music events were already volatile activity, but after a banner year in 2019, a pandemic brought outdoor events to a halt. In this film, FT chats with the organizers, groups and stagehands to see if they can bounce back.

Video: Music Festival: High Risk Businesses | FT Film

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