Bloomberg Crypto

By some estimates, major crypto hacks in 2022 have cost the crypto industry nearly $2 billion in stolen tokens. That’s *just* this year. And those headline numbers typically don’t take account of smaller exploits that target individual consumer accounts, for example. So the real number is even bigger. 

Crypto holders and the leaders of those organizations appear to be focusing on security. How should users protect their assets? What stronger security measures is the industry considering? And how? Bloomberg reporter Hannah Miller joins this episode.

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Crypto companies have spent more than $2 billion on sports advertising around the world. The NBA, Major League Baseball, Premiere League, Formula 1…. even the Drone Racing League has a crypto sponsor. But in a market downturn, how long will these big investments in sports sponsorships last? And can they persevere through this crypto winter?

In this episode, Crypto senior editor Anna Irrera is joined by Bloomberg reporter Kim Bhasin to discuss the return on investment when it comes to crypto advertising.

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BlackRock, the world’s largest asset manager, teamed up with the crypto exchange Coinbase in a move that both Wall St and crypto types are watching closely. According to BlackRock, the partnership will help clients better manage and trade their Bitcoin. The deal comes at an interesting time for Coinbase, as it faces over $1 billion loss for the second quarter of 2022 and intense regulatory scrutiny on multiple fronts. 

Bloomberg reporters Yueqi Yang and Silla Brush join this episode for more on the latest Wall St foray into crypto. 

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Tether, a stablecoin that trades under the ticker USDT, is the third-largest digital token by market value. It’s also one of the most actively traded tokens in the entire ecosystem and comes with two promises: each Tether has a stable value of $1 and each of those tokens is backed by a “real” dollar, or similarly liquid and reliable financial asset, like a bond issued by the US government. Those promises have not always been kept, which has kept Tether in the crosshairs of regulatory scrutiny and investor speculation.

Bloomberg reporter Emily Nicolle joins this episode for the latest on Tether and its asset reserves. 

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It’s the phrase on everyone’s lips: The Merge. It would be the Ethereum blockchain’s most ambitious software upgrade ever. After years of delays, it represents a fundamental overhaul of how the blockchain works, and would - if all goes according to plan -  shift away from the energy-intensive approach known as “proof of work”. 

So, what does the Merge mean for users? What are the risks associated with this switch? And why is it finally happening now, after all these years? Bloomberg Crypto reporters Olga Kharif and David Pan join this episode to tackle these questions.

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Despite the continued crypto winter, NFTs are still bringing some heat for high end products. Non fungible tokens have become increasingly popular with many luxury brands, and remain a powerful draw for some consumers. High-end retailers Gucci and Tiffany are the latest to jump into the fray with new NFT offerings.

Kering SA’s Gucci says it will accept ApeCoin as legal tender in select US stores. LVMH’s Tiffany & Co also announced it’s launching what it calls N-F-Tiffs: collectible vouchers that can be redeemed by owners of CryptoPunk NFTs for a custom jewelry piece.  

The demand for NFTs has slumped in recent months, so why are these brands so bullish on crypto? 

Bloomberg journalists Emily Nicolle and Taz Akhtar join Crypto Senior editor Anna Irrera on this episode to discuss why luxury brands have embraced NFTs.

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The day-to-day pulse of crypto can be unrelenting. And no two days are alike. To help distill the latest developments in the world of digital assets, stacy-marie is joined by two Bloomberg senior editors Anna Irrera and Philip Lagerkranser, for the latest edition of Friday in the Editor’s Room.

In today's episode, the team tackles everything from why editors still need to be reporters to the Great Mayo Mystery and what condiments have to do with inflation. Indeed, the plot does thicken.

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Some of the biggest and brashest figures in crypto have faced staggering losses in this current downmarket. Multiple crypto companies have filed for bankruptcy, and more than one high-flying crypto CEO has found themselves out of a job. 

Case in point: Michael Saylor, the co-founder and former CEO of a software services firm called MicroStrategy. But software isn’t what made the company a household name among Bitcoin believers. Saylor’s decision to use the company’s balance sheet to bet big on Bitcoin back in 2020 is really what catapulted Microstrategy into the headlines. For a while, as Bitcoin prices rallied, that $250 million dollar bet looked like a genius move. But as prices fell, MicroStrategy found itself facing significant losses. What does this loss mean for the future of MicroStrategy, and for Michael Saylor? 

For more, Bloomberg senior editor Dave Liedtka and  Bloomberg accounting specialist Tom Contiliano join this episode to discuss what happened at MicroStrategy.

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We’ve talked a lot about Bitcoin on the Bloomberg Crypto podcast - the world’s oldest, largest, and most popular cryptocurrency. But in this episode, we’re going to talk about the number two token - Ether, and about the blockchain it’s built on. Ether’s market value is still about half that of Bitcoin’s. But a recent surge - a whopping 50 percent since mid-June -  has some Ether fans hoping it’ll unseat the number one crypto. There’s even a word for this theoretical event: it’s called the “flippening.” 

Could Ether overtake Bitcoin, upending more than a decade’s worth of Bitcoin dominance? And what would that mean for the future of crypto? To better explain what exactly the flippening entails, Bloomberg reporters Olga Kharif and Vildana Hajric join this episode.

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London’s convenient time zone, bustling city atmosphere, and impressive set of financial regulations have made it a top destination for banks and financial services companies to operate over the years. But the newness of crypto means there’s an international gap in the market for legal standards on digital assets. The Law Commission of England and Wales is an independent regulatory body that advises the UK government on reform. It’s been tasked with getting London ahead of the pack when it comes to regulating crypto.

In this episode, Emily Nicolle, Crypto blogger for Bloomberg News, is in for Stacy-Marie Ishmael. She’s joined by Sarah Green and Matthew Kimber from the Law Commission to discuss the proposals they’ve made to Westminster.

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