Sat, Dec 20, 2014
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. Investing - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Investing - Hedge funds get boost from healthcare in 2014, Paulson & Co takes stake in Salix on heels of inventory issues[more]

    Hedge funds get boost from healthcare in 2014 From Valuewalk.com: The healthcare sector started the year on a turbulent note, as stocks of many major biotechnology companies were battered. However, most of the players in this sector have bounced back. The BarclayHedge Healthcare & Biotec

  4. Opalesque Exclusive: U.S. legal receivables fund launched in August[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Investing in asset-backed receivables is a strategy that has been an integral part of the alternative investment space within the overall fixed income asset c

  5. Comment - High fees and low performance hit hedge funds[more]

    From FT.com: Disenchantment over high fees and lackluster performance may finally be turning the tide against hedge funds, fresh data suggest. Despite generally weak returns since the global financial crisis, hedge funds have enjoyed positive net inflows every year since 2010. This helped assets und