Bloomberg - Evening Briefing - Crypto rules are coming

Crypto fans need to prepare for stricter rules from U.S. regulators, because they’re coming soon. In China, Beijing’s campaign against the funny money is now targeting miners who tried to disguise themselves as data researchers. Bridgewater founder Ray Dalio, while noting that “cash is trash,” predicted that if crypto is really successful, governments will try to kill it. Then there’s the tale of a 24-year-old self-proclaimed math whiz who got seven and a half years in prison for a crypto Ponzi scheme. And some advice, if you really need it, from Bloomberg Opinion’s Matt Levine: Don’t spend your litecoins at Walmart.

What you’ll want to read this weekend

It was a week of unfavorable news on the vaccine front. The efficacy of the Pfizer-BioNTech Covid-19 shot diminishes over time, a point echoed by Moderna about its own vaccine. In Italy, all workers will need a valid Covid passport as the government moves to set the toughest vaccination requirements in Europe. 

U.S. propane prices jumped to the highest since 2014 and blackouts are a possibility in the U.K. High energy prices are here for the foreseeable future, according to Chevron. And the corporate victims are beginning to pile up.

Climate change is wreaking more havoc than expected and efforts to slow it down just aren’t aggressive enough, according to the United Nations. All over the world, people are finding it hard to cope with a growing sense that governments and businesses won’t do enough to address global warming.

Firefighters operate at the site of a wildfire last month near Avila, in central Spain.

Photographer: Cesar Manso/AFP

CFA versus MBA. Which is better for a career in finance? Bloomberg Businessweek analyzes which schools are best and, for the first time, looks at who has the most diverse MBA programs in the latest Best B-Schools ranking.

Fossils are the latest hot asset class, but if hunting in the dirt for a T. Rex isn’t your thing, stepping into the tomb of one of the pharaohs may be less frustrating. But beware, it could already be too late to book holiday travel.

What you’ll need to know next week

  • The UN General Assembly meets, with climate high on the agenda.
  • The Fed sets monetary policy, and the inflation debate is simmering.
  • The Bank of England looks set to raise interest rates.
  • Canadians vote on whether to give Justin Trudeau another try.
  • Europe and the America’s top golfers compete in the Ryder Cup.

What you’ll want to read in Businessweek

Inside the World’s Supply Chain Hell

The pandemic has thrown the vital but usually humdrum world of logistics into a tailspin, spurring shortages of everything from vaccine vials to bicycles. The system underpinning globalization—production on one side of the planet, connected to consumers on the other by trucks, ships, planes, cranes, and forklifts—is too rigid to absorb the rolling tremors triggered by Covid-19.

A freight train from Seattle traveling east through Livingston, Montana.

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Bloomberg New Economy Conversations—Getting to Net Zero: The cost of scaling up renewable energy has fallen dramatically. Is 2021 the year in which we’ll see major investments in areas like green hydrogen, carbon capture and other technologies needed to prevent environmental catastrophe? What are the most promising new areas and who is at the forefront? Join New Economy Editorial Director Andrew Browne on Sept. 28 at 10 a.m. as he discusses these issues with HSBC Group Chief Executive Noel Quinn, Hyundai Motor Co. Vice President of New Energy Business Development Jae-Hyuk Oh, and others. Register here.

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Crypto scrutiny grows

Friday, September 17, 2021

Bloomberg A proposed Covid-19 vaccine booster shot from Pfizer-BioNTech should be given to people who are most vulnerable to serious disease, including those over the age of 65, a panel of expert

A clever tax loophole

Thursday, September 16, 2021

Bloomberg Most Americans hope their retirement accounts will allow them to stop working without falling into poverty. For the rich, those accounts have become something more—a clever tool to avoid

Waning virus protection

Wednesday, September 15, 2021

Bloomberg Pfizer says data from the US and Israel suggests that the efficacy of the Covid-19 vaccine it manufactures with BioNTech wanes over time, and that a booster dose is safe and effective at

Breaking up Wells Fargo

Tuesday, September 14, 2021

Bloomberg US Senator Elizabeth Warren urged the Federal Reserve to break up Wells Fargo, forcing the bank to separate its traditional banking and Wall Street businesses. The demand comes as the

Shrinking tax hikes

Monday, September 13, 2021

Bloomberg China is experiencing yet another Covid-19 outbreak caused by the delta variant, with dozens of infections detected in the southeastern province of Fujian less than a month after the

Longreads + Open Thread

Saturday, October 23, 2021

Ports, Bits About Money, Sneakers, Carbon, Omakase, Nietzsche ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

One map shows how long it could take for each US state and DC to get back to pre-pandemic employment

Saturday, October 23, 2021

Utah and Idaho have already seen their labor markets return to pre-pandemic levels. This map shows when the rest of the country could recover. View in browser Business Insider Business Insider Business

Biden hunts for taxes

Saturday, October 23, 2021

View in browser Bloomberg Follow Us Get the newsletter Since the Covid-19 pandemic arrived in America, earnings have soared, stock markets have hit records and consumers lucky enough not to have been

Get ready to pay more

Friday, October 22, 2021

View in browser Bloomberg US Federal Reserve Chair Jerome Powell reiterated on Friday that “it's time to taper,” shorthand for the slow removal of financial supports that held up a once pandemic-

FTT Update: Hailey Bieber Just Invested In Fintech

Friday, October 22, 2021

​ ​ Hi all, Julie here. Excited to hang out with some fintech folks in Austin tonight at Point72 Ventures' happy hour! Jordan is stoked to meet more of you at Money2020 in a few days too. I'm

The Value of Experts

Friday, October 22, 2021

Inside GLG, the World's First "Expert Network" ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Inside the investment craze changing the face of Las Vegas

Friday, October 22, 2021

Big real estate investors known as REITs have been... View in browser INSIDER INSIDER Subscribe Insider Exclusive FINANCE Inside the investment craze changing the face of Las Vegas Big real estate

Asset manager Valkyrie's bitcoin futures ETF will start trading on Friday, reports say

Friday, October 22, 2021

The company's bitcoin futures ETF will start trading in the US on Friday, October 22, rivalling ProShares' own launch earlier this week, reports said. View in browser Business Insider Business

Blimps, Bots, and the Future of Cargo

Friday, October 22, 2021

Plus! Bitcoin's Long March: Pensions; Last Mile; Google's Laffer-Style Tax Cut; Sales ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Fintech News Issue #334

Friday, October 22, 2021

The Other Side of Pandemic See Online Issue #334 2021-10-21 COVID-19 reshaped our financial world. From the way we transact, to our digital knowledge, now it seems like if we can't use cash as we