Tue, Jul 26, 2016
A A A
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. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. Opalesque Exclusive: ArbitrOption outperforms benchmarks, up 7.18% in H1[more]

    Komfie Manalo, Opalesque Asia: Independent registered advisor ArbitrOption breezed through the tumultuous Brexit referendum and outperformed its benchmarks. ArbitrOption was up 7.18% in the first half of 2016 compared to the S&P 500 which gain

  4. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

    European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

  5. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

    Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New