This column provides a visual blow-by-blow of what happened May 17 on BitStamp, and a risk/return estimate: if it was manipulation, how much it cost, and how much the manipulators earned. It shows how novel structures and thin markets could makes manipulation possible. It concludes with thoughts on the liquidity imbalance that caused it, and how it might happen again.
In the UK, digital-first challenger banks have taken the banking industry by storm. In the next year, digital challenger banks will have a combined customer base of 35 million, tripling their customer bases of 13 million people today, according to a research by Accenture.