Fri, Oct 21, 2016
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Pirate’s arrest leads to Bitcoin collapse

Thursday, October 03, 2013

Beverly Chandler, Opalesque London:

Another week, another dollar. Close on the end of September announcement of the launch of a new fund from alternative specialists SecondMarket based on Bitcoin, comes the news that the virtual currency has collapsed following the shutdown of trading website Silk Road.

The Global Post piece on the launch of the fund gently warned that the New York Department of Financial Services had sent subpoenas to leading investors in Bitcoin in August, expressing concern that it could be used by drug traffickers and gun runners and threaten US national security. And yesterday, news came that the FBI had seized and shut down Silk Road, a website that allowed customers to operate outside the law using Bitcoin as its currency, dealing in drugs, arms and even hit men. As part of the bust, the government took 26,000 Bitcoins, or the equivalent of over $3m, from Silk Road. Its creator, Ross William Ulbricht, or Dread Pirate Roberts, was arrested. It is now estimated that the US government owns 0.22% of the currency.

Inevitably, following the news, Bitcoin's val......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. M&A - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. Other Voices: Follow the advice of investment consultants - I think not[more]

    Mark Rzepczynski, Founding Partner, Chief Investment Officer AMPHI Research and Trading, writes on Harvest Exchange: Investment consultants are a force to the reckoned with in the pension world. They advise and drive many pension decisions around the globe. Consultants literally control trillion