currency markets

Will the crypto market always follow bitcoin's price lead? It may not in the future, this asset manager explains.

Will the crypto market always follow bitcoin’s price lead? It may not in the future, this asset manager explains.

Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I’m Frances Yue, crypto reporter at MarketWatch, and I’ll walk you through the latest and greatest in digital assets this week so far. Find me on Twitter at @FrancesYue_ to send feedback or tell us what you think we …

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Cathie Wood's ARK ETF buys into SPAC linked to stablecoin operator Circle

Cathie Wood’s ARK ETF buys into SPAC linked to stablecoin operator Circle

An earlier version of this article misstated the number of shares and the total dollar amount invested in Concord Acquisition Corp., by Ark Investment Management’s ARK Fintech Innovation ETF. The error has been corrected. Cathie Wood’s ARK Invest has purchased shares of the special-purpose acquisition company, or SPAC, that is merging with Circle, one of …

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U.S. jobless claims jump to highest level since mid-November

U.S. jobless claims jump to highest level since mid-November

The numbers: Initial jobless claims rose by 23,000 to 230,000 in the week ended Jan. 8, the U.S. Labor Department said Thursday.  It’s the highest level since mid-November. Economists polled by The Wall Street Journal had estimated new claims would slip to 200,000. Key details: The number of people already collecting jobless benefits plunged by 194,000 …

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The IRS will ask every taxpayer about crypto transactions this tax season — here's how to report them

The IRS will ask every taxpayer about crypto transactions this tax season — here’s how to report them

Cryptocurrencies, also known as virtual currencies, have gone mainstream. That’s for sure. For example, you can use bitcoin BTCUSD, -0.26% to buy a Tesla TSLA, +3.93% and to buy or pay for lots of other things. However, using cryptocurrencies has federal income tax implications. Here’s what you need to know at 2021 tax return time …

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Fed accelerates taper of bond purchases, eyes three interest-rate hikes in 2022

Fed accelerates taper of bond purchases, eyes three interest-rate hikes in 2022

The Federal Reserve on Wednesday said it will phase out its bond-buying stimulus program by March — much faster than previously planned — and signaled it would raise interest rates more aggressively to combat high U.S. inflation. Opinion: All those doves at the Fed have suddenly become hawks The more assertive approach comes after upward …

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Grayscale Investment wants its largest bitcoin trust to be an ETF. A miscue briefly made its wish come true.

Grayscale Investment wants its largest bitcoin trust to be an ETF. A miscue briefly made its wish come true.

Grayscale Bitcoin Trust, arguably the granddaddy of crypto funds, fulfilled a long-held ambition: It became a exchange-traded fund — at least by name. Since at least Monday, FactSet System Inc. FDS, +1.64% had listed crypto-focused asset manager Grayscale Investment’s Bitcoin Trust GBTC, +0.57% as Grayscale Bitcoin Trust ETF on its platform, which is used by …

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Hackers steal at least $150 million in assets from crypto platform BitMart

Hackers steal at least $150 million in assets from crypto platform BitMart

Crypto trading platform BitMart confirmed a “large-scale security breach” over the weekend, saying hackers stole about $150 million in assets. “The affected ETH hot wallet and BSC hot wallet carry a small percentage of assets on BitMart and all of our other wallets are secure and unharmed,” BitMart said in a statement Saturday night. “We …

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