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    FirstFT: Wall Street trading groups boost crypto markets

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    Good morning.This article is our onsite version FirstFT Newsletter.Sign up for us Asia, Europe / Africa Also Americas Edition for sending directly to your inbox on weekday mornings.You can reach us firstft@ft.com

    How long have you been following this week’s news?Take us quiz..

    Some of Wall Street’s largest trading companies have announced plans to bet territory on the crypto market, opening new fronts in the fight to win profitable businesses from institutional investors.

    Jump Trading, GTS, Jane Street, one of the largest players on the US stock market, Strengthening trading of digital assets After years of secrets.

    They are some of the most competitive trading companies that fight for any trade in the world’s stock, currency and futures markets. Institutional investors are attracted to providing high returns, and many want to bring that know-how to the crypto market.

    It makes them compete with specialized crypto trading companies such as Genesis, B2C2 and Bequant. Mina Nguyen, head of institutional strategy at Jane Street, told the Financial Times:

    “We see a significant increase in institutional interest and are actively sharing our expertise to support a more efficient crypto market.”

    Thanks to all the readers who voted for yesterday’s vote vote.. Three-quarters of you disagreed with ArkInvest’s Cathie Wood that Bitcoin is worth $ 500,000 in five years. Have a great weekend.The rest of the news today is — Gordon

    5 more stories in the news

    1. The United States is trying to ease France’s anger US Secretary of State Antony Blinken said FranceImportant partnerIn an attempt to calm anger in Paris the day after the United States unveiled a new naval security agreement between Australia and Britain.

    • Other Chinese News: China made Bidding to participate A comprehensive and progressive agreement on the Trans-Pacific Partnership (formerly the Trans-Pacific Partnership). The trade agreement was originally designed by Washington to limit Beijing’s growing economic and political influence in the region.

    2. Powell orders a review after the Federal Reserve Board moves off-road stocks
    The Federal Reserve Board said yesterday it was considering Its ethical guidelines How senior officials can participate in financial markets after a conflict of interest question has been raised about the investment activities of the two regional presidents.

    3. Unannounced ECB inflation forecast raises prospects for early rate hikes European Central Bank Elusive 2 percent inflation An unpublished internal model suggests that it has set a target by 2025 and is moving towards raising interest rates in just over two years.

    4. World Bank survey reveals IMF chiefs pushing staff to raise China’s rankings IMF Managing Director Cristalina Georgieva, according to a World Bank survey Artificially raise China’s ranking In the Lender’s Influential Annual Doing Business Report.

    5. “Roaring Kitty” Meme Stock Trading Fines Mass Mutual U.S. insurance companies $ 4 million fine Millions of day traders were urged to increase GameStop’s share because they couldn’t properly oversee Keith Gill, a former employee who published the video under an alias such as “Roaring Kitty.”

    Coronavirus digest

    • Canada First country To give full approval of Moderna’s Covid-19 vaccine.Meanwhile, analysts predict revenue from Pfizer When Modana Coronavirus jab Fall sharply By 2024.

    • U.S. retail sales It bounced back in August as shoppers hoarded school supplies and home decor. Willingness to spend..

    • Italy To make Covid-19 a “green pass” Obligation For most public and private sector workers, despite opposition from within the domestic ruling party.

    • Tim Harford Have some advice How to tackle Covid’s hesitation..

    Future days

    Pfizer Booster Jab Weighing FDA Expert panel Will meet Provides US drug regulators with official recommendations on whether to allow the company’s booster jab application.

    Manchester United Revenue British Premier League team announces annual earnings today And the financial outlook for the next year. Investors look for details on the blockbuster deal with Cristiano Ronaldo and how quickly the club can return to growth after a pandemic.

    Energy and climate conference President Joe Biden in other countries Join The United States and the EU have pledged to reduce methane pollution by 30% over the next decade.

    Defense negotiations Mark Rutte, the Prime Minister of the Netherlands, and Boris Johnson, the British counterpart, Meet in london today Discuss greater cooperation between the UK and the EU on defense and security issues.

    Russian Duma election Three days of voting in parliamentary elections, voting will take place today across Russia.. Pro-Kremlin United Russia Party Hold that majority In the House of Representatives.

    What else are you reading and watching

    Did it make sense to occupy Wall Street? The financial crisis of 2007-08, triggered by predatory home lending and excessive risk taking, led to a debt crisis, mass severances and home reowners. It has also created protests around the world.Let’s see Heritage of movement, 10 years later.

    Looking at the lesser-known origins of Occupy, we begin to see the deep-seated, angry, large uncaulking that still resonates today © Alexandra Clotfelter; Roger Pete; Adbusters

    Democratic double standard on wealth inequality Now is the longest and most ripe opportunity to correct late Roman inequality in the United States. Edward Ruth writes.. But the fact that Democrats are so timid speaks volume. Read more from Edward in the US Political Newsletter, Swamp note..sign up here..

    World debt is skyrocketing — and we need to talk about it The rate of expansion required for countries such as the United States and China to break out of current debt levels is staggering.Gillian Tett argues in her that the fact that our global system is tripled and rising deserves much more debate, even if you are optimistic about its impact. increase Latest column..

    Last Mogul: Universal Music’s Lucian Grainge The most powerful CEO in the music industry Weigh About fighting death, killer trading, and publishing his record label. In an industry that has made its own unexpected comeback over the last five years, Universal’s September 21st IPO is the ultimate test of recovery.

    FT Writer’s Biggest Economic Mistake From low interest rates on cards and employment purchase contracts to living healthy without checking costs, our experts explanation How they learned the difficult way — as part of us Financial literacy and inclusion campaign..

    music

    Music events were already a volatile business, but after a record year in 2019, a pandemic stopped outdoor events. In this movie, FT talks with the organizers, bands and stagehands to see if they can bounce back.

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