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Bitcoin, solana rally fuels crypto hedge fund gains

Crypto

Hedge Funds Correspondent

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Crypto hedge funds cashed in on market volatility in April following US president Donald Trump’s tariff announcements.

Trump’s tariff plan — announced on 2 April — evaporated more than $300bn from the global crypto market within the next five days. However, the US president’s introduction of a 90-day pause on tariffs on 9 April helped crypto markets recover.

Here’s how crypto hedge funds Tephra Digital, Pythagoras and Fasanara Digital performed in April

Bilal Jafar

Currencies

Citi shuts Málaga office it opened to battle banker burnout

A&O Shearman boss Hervé Ekué: ‘My godfather was accused in a failed coup… he inspired me to be a lawyer’

A&O Shearman boss Hervé Ekué on skyrocketing pay rises: ‘We haven’t reached the top’

Trading Places: Hires for Citi, UBS and Paul Hastings

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Find out who is on the move in the City and beyond this week

Paul Weiss hires two A&O Shearman partners in London growth push

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New York law firm raids Magic Circle rival in London

RBC revamps European sales team with ex-UBS fixed income head

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Mark Tinworth joins Canadian bank in newly created role

Stock markets globally were mixed with U.S. futures pretty much flat following Thursday’s bounce after the U.S.-U.K. trade deal.

Global Markets Mixed as Investors Look Toward U.S., China Talks

Global Markets Mixed as Investors Look Toward U.S., China Talks in Switzerland

My success was fueled by hard work and planning—not by my endless fear about outcomes.

I Thought I Needed Anxiety for My Job. I Was Wrong.

Federal prosecutors had sought a sentence of at least 20 years for Alex Mashinsky, who attracted customers—many of them ordinary investors—by urging them to “unbank” themselves and park their savings at Celsius.

Celsius’s Mashinsky, Former Crypto High-Roller, Gets 12-Year Prison Sentence

Stocks fell a lot, perhaps too much, after “Liberation Day.” They have now rebounded a lot, perhaps too much.

Why This Stock-Market Bounce Won’t Hold

Earlier in the day Coinbase announced a $2.9 billion cash-and-stock deal to acquire Deribit, a bitcoin options exchange.

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Financial News

Global Markets Mixed as Investors Look Toward U.S., China Talks

I Thought I Needed Anxiety for My Job. I Was Wrong.

Celsius’s Mashinsky, Former Crypto High-Roller, Gets 12-Year Prison Sentence

Why This Stock-Market Bounce Won’t Hold

Coinbase Reports Drop in Profit