Author: News Room

This week I had the pleasure of interviewing Jeff Park, head of alpha strategies at Bitwise Asset Management, to unpack the BTC ETF options launch this week. Here are the main takeaways from our interview that I learned: Volatility Smile Typically with risk assets, puts demand a higher premium than calls. This is because most people use options to hedge their longs, creating skewed demand for puts over calls. This typically creates a half smile in the volatility structure as seen below: Something very unique about crypto, however, is that it has a persistent smile to its volatility surface —…

On Wednesday, Gautam Adani was charged by US prosecutors in a massive bribery scheme. The charges have spurred an investor revolt and at least one customer to back out of major deals. Adani is the 2nd-richest person in India, behind Mukesh Ambani. Gautam Adani, the second-richest person in India, is facing bribery charges in the US and business tumult globally.Adani is the founder and chairman of the Adani Group, a multinational conglomerate with businesses spanning energy, mining, ports, and airports. The Adani Group owns India’s largest commercial port and has a controlling stake in Mumbai’s international airport.On Wednesday, New York prosecutors said Adani executives paid…

BERLIN (Reuters) – New German Finance Minister Joerg Kukies dampened expectations that a reform of the nation’s spending cap, known as the debt brake, could lead to more leeway in the federal budget in an interview with the Handelsblatt newspaper published on Friday. “You have to look at what is realistic and what there could be a political consensus on,” Kukies told Handelsblatt, adding that “in my view, this would be a moderate, targeted reform.” German political parties have bristled over the spending rules, which limits the country’s public deficit to 0.35% of gross domestic product, viewing it as a…

By Melanie Burton MELBOURNE (Reuters) – India’s Adani Group, whose billionaire chairman has been indicted for fraud by U.S. prosecutors, is facing accusations of racism at its Australian coal unit after an Aboriginal group filed a complaint with the country’s Human Rights Commission. The Nagana Yarrbayn Wangan & Jagalingou Cultural Custodians in Queensland state said it filed a complaint alleging serious racial discrimination by the unit, Bravus and Resources, earlier this week. The complaint details how Adani employees sought to “verbally and physically obstruct and prevent” members of the Aboriginal group from accessing springs near Adani’s Carmichael coal mine “in…

Investing.com– Gold prices rose in Asian trade on Friday and were headed for a strong weekly gain as increased tensions between Russia and Ukraine sparked a broad rush into traditional safe havens.  The yellow metal rebounded sharply from two-month lows this week, mostly brushing off pressure from a stronger dollar and Treasury yields. But gold still remained well below record highs hit in late-October.  rose 0.7% to $2,688.70 an ounce, while expiring in December rose 0.6% to $2,690.70 an ounce by 00:25 ET (05:25 GMT).  Gold set for strong weekly gains on Russia-Ukraine fears  Spot gold was set to rise…

The Indian Rupee holds steady in Friday’s early European session. The Indian HSBC Manufacturing PMI eased in November; Services PMI improved to 59.2 in November vs. 58.5 prior. Continued outflow of foreign funds and higher crude oil prices might weigh on the INR. The flash US S&P Global PMI data will be in the spotlight on Friday.  The Indian Rupee (INR) trades flat on Friday after hitting an all-time low of 84.50 against the US Dollar (USD) in the previous session. The latest data released on Friday showed that the HSBC India Manufacturing Purchasing Managers Index (PMI) eased to 57.3…

Apple confirmed Monday its devices were left vulnerable to an exploit that allowed for remote malicious code execution through web-based JavaScript, opening up an attack vector that could have part unsuspecting victims from their crypto. According to a recent Apple security disclosure, users must use the latest versions of its JavaScriptCore and WebKit software to patch the vulnerability. The bug, discovered by researchers at Google’s threat analysis group, allows for “processing maliciously crafted web content,” which could lead to a “cross-site scripting attack.” More alarmingly, Apple also admitted it “is aware of a report that this issue may have been…

Sarah Silverman appeared on Rob Lowe’s Sirius XM podcast.Silverman discussed her copyright infringement lawsuit against OpenAI, which owns ChatGPT.She said the ongoing class action lawsuit will be “tough.”Comedian Sarah Silverman opened up about her copyright infringement lawsuit against Sam Altman’s OpenAI, which owns the artificial intelligence chatbot ChatGPT.Silverman appeared on the latest episode of the SiriusXM podcast, “Literally! With Rob Lowe,” on Thursday. During the interview, Silverman discussed her ongoing legal dispute with OpenAI that began in 2023.Silverman, who authored “The Bedwetter: Stories of Courage, Redemption, and Pee,” is among over a dozen authors who said the company used their…

Five tourists have died from suspected methanol poisoning in Laos.The victims are an American, two Danes, a Brit, and an Australian.The US State Department said it was monitoring the situation and providing consular assistance.Several tourists have died from drinking tainted alcohol in Vang Vieng, Laos.An American, two Danes, a Brit, and an Australian died of suspected methanol poisoning, according to various reports.A spokesperson for the US State Department confirmed to Business Insider on Thursday that a US citizen had died in Vang Vieng and that the agency was monitoring the situation and providing consular assistance.A spokesperson for Britain’s Foreign Office…

A look at the day ahead in European and global markets from Ankur Banerjee A series of manufacturing data will likely dominate markets’ attention on Friday, with the euro rooted near its lowest in more than 13 months, while bitcoin edged towards $100,000 on expectations of friendlier regulations in the United States. India-listed shares of Adani Group firms slid and their dollar bonds remained under pressure for a second day following billionaire founder Gautam Adani’s indictment for fraud by U.S. prosecutors. Monthly PMIs will be released around the world over the course of the day, helping investors to chart out…