Paige Aarhus

Wednesday

Paige Aarhus

Bitcoin’s whiplash volatility is still a problem

From our UK edition

Crypto markets were in a tizzy over the past week following rumours – later quashed – that Amazon was planning to accept bitcoin for payments. Last Thursday, Amazon posted a job opening for a digital currency and blockchain lead, prompting a media frenzy that culminated with a report that the company would accept bitcoin payments by the end of the year. Bitcoin prices had been declining since April, but they surged by almost 15 per cent to hit £29,000, before moderating to around £27,000 yesterday after Amazon denied the report, saying the speculation around specific plans for cryptocurrencies was not true.

Thursday

Paige Aarhus

Should the EU diversify – with blockchain?

From our UK edition

The European Investment Bank has warned that the EU is not investing enough in blockchain — the technology that underpins cryptocurrencies — and artificial intelligence. In a report released Tuesday, the EIB wrote that the EU is falling behind both China and the US in these two areas, with the funding gap estimated at between €5 billion and €10 billion annually. This is problematic because, as the bank argues, AI and blockchain are two of the most significant disruptive technologies of our time, and they will have a major impact on the future economy. At present, the US and China account for more than 80 per cent of annual equity investments in AI and blockchain, compared to the EU’s 7 per cent.

Thursday

Paige Aarhus

Macron is playing politics in the Channel

From our UK edition

The stand-off between France and Britain has escalated into something altogether more serious. Yesterday, the French maritime minister called for Jersey’s electricity supply to be cut off in response to a dispute over fishing rights. Egged on by French officials, around 80 boats began blockading the port of St Helier this morning in a move that is reminiscent of Ursula von der Leyen’s aborted plans for a hard Irish border to stop the flow of vaccines into the UK. Now there are scenes of British Navy vessels approaching the fishing boats as French ships chart a course for the Channel island. Some on the Continent are claiming that the stand-off has been manufactured by Boris Johnson to deflect from his various scandals ahead of today’s elections.