Bloomberg Daybreak: Europe Edition Crypto’s $1 Billion Wipeout, EU Moscow Talks Warning, Litigation Finance Falters
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Dec 2, 2025 Mark Cudmore, Markets Live executive editor at Bloomberg, dives into the recent turmoil in the cryptocurrency market, detailing nearly $1 billion in leveraged position liquidations and the implications for Bitcoin prices. He discusses the structural volatility of Bitcoin and how recent volatility reflects broader retail sentiment. Cudmore also critiques the strategies of companies holding non-yielding crypto treasuries, highlighting challenges in the world of litigation finance due to regulatory changes and capital pullbacks.
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Massive Leveraged Crypto Liquidations
- Nearly $1 billion of leveraged crypto positions were liquidated during a sharp price drop.
- The fall underscores crypto's severe retail sensitivity and failure of dip buyers to stabilise markets.
EU Warns Against Lopsided Ukraine Deal
- EU's top diplomat warned US pressure for a lopsided Ukraine peace could embolden Russia and threaten global security.
- Kaya Callas said forcing the weaker side risks normalising border changes by force worldwide.
Rare Earths Becoming A Critical Bottleneck
- European defence firms face rare earth shortages as US rivals secure supplies faster.
- The EU plans at least $3.5 billion to reduce dependence on China's raw materials for military needs.