Jack Morse

2 months ago | sherwood.news | Jack Morse

(Heidi Gutman/Getty Images)“We are return maximalists, not Bitcoin maximalists.”There’s more to crypto than just bitcoin. Digital Currency Group, the industry titan with a portfolio of more than 200 crypto-focused investments, announced this morning that it had launched a new standalone subsidiary that would mine altcoins in addition to bitcoin.

Jan 15, 2025 | sherwood.news | Jack Morse

Jack Morse / Thursday, January 16, 2025Because that’s where the money is… JPMorgan Chase, Goldman Sachs,Citigroup, and Wells Fargo brought their quarterly #s out of the vault yesterday, and it was a blowout. Investment-banking biggies JPMorgan and Goldman saw profits soar last quarter as dealmaking optimism boomed ahead of Trump’s inauguration. JPM’s profit popped 50% from last year and Goldman’s more than doubled.

Jan 13, 2025 | sherwood.news | Jack Morse

Jack Morse / Monday, January 13, 2025On the rocks… Bitcoin kept sliding today, down nearly 10% on the week and briefly dipping below $90K — its lowest price since November. The OG crypto, 16% off its $108K record, had plenty of miserable company. As of this morning, ethereum, solana, dogecoin, and cardano were all down nearly 20% on the week. It wasn’t just name-brand coins feeling winter’s chill: the CoinDesk 20, an index tracking a basket of crypto assets, was down 12% on the week.

Jan 8, 2025 | sherwood.news | Jack Morse

Bitcoin’s acting like a risk-on asset again. The price of bitcoin slid for the second straight day, dropping almost 8% from its peak of over $102,000 on Monday, as traders digested Tuesday’s stronger-than-expected jobs data. The likely concern: a hot economy could chill any rate-cut plans from the Fed, ultimately leaving rates higher for longer. That, plus the crypto’s increased correlation with the S&P 500, could challenge bitcoin’s “digital gold” selling point.

Jan 7, 2025 | sherwood.news | Jack Morse

Jack Morse / Wednesday, January 08, 2025Hasta la vista… Some of crypto’s top regulators are bidding adieu ahead of this month’s inauguration of pro-crypto President-elect Trump. On Monday, Fed Vice Chair Michael Barr said he was peacing out, and yesterday CFTC head Rostin Behnam announced plans to resign. Behnam had sought to lock in the CFTC’s role as bitcoin’s top regulator and give it oversight of crypto exchanges, while Barr had advocated for guardrails.