Bloomberg

December of 2021 wasn’t kind to crypto, and it shows on the derivative markets. ProShares Bitcoin Strategy ETF – the first Bitcoin ETF to arrive in the United States – is now one of history's worst-performing issuers two months after listing. This is despite a euphoric start, during which the fund was the NYSE’s second most excellent opening-day performer of all time. Bullish Opening, Bearish Aftermath As reported by Bloomberg, BITO ranked as a top ten worst performing issuer when…

Though Bitcoin hasn’t seen a historically precedented December takeoff, the bear market may still be a long way out. Mike McGlone – Senior Commodity Strategist at Bloomberg Intelligence – recently called the asset an “enduring bull-market.” Moreover, institutional adoption continues to rise while several indicators suggest that Bitcoin has a bright future in 2022. McGlone’s Analysis Earlier today, McGlone offered his bullish analysis in conversation with Bloomberg’s Paul Sweeney and Sonali Basak. Whereas he characterizes oil as an “enduring bear…

Tether Holdings – the issuer of the most popular stablecoin, "Tether"– just responded to a Bloomberg article casting doubt on their operations. While Bloomberg claims that Tether's $69B reserves are nowhere to be found, Tether calls their accusations fake news. Tether's Response to Bloomberg Tether published their response to Bloomberg yesterday, on the same day Bloomberg's accusatory article was released. Tether calls the piece a "one-act play" that cherry-picks old news from "dubious sources" to fit a defamatory narrative. This…