Good morning from the Financial Times.
Today is Tuesday, November 18th, and this is your FT News Briefing.
The buzz over cryptocurrency is starting to fizzle, and HSBC is struggling to fill a key role.
Plus, a massive infrastructure project in Saudi Arabia is nearing the end of the line.
They found they were going to need like 60% of the world's recycled steel every year.
They were going to need more cement than France produced every year.
It became a very, very difficult project to do.
I'm Mark Filipino, and here's the news you need to start your day.
The cryptocurrency industry has been dreaming of a golden era during U.S.
President Donald Trump's second term, but some of that luster might be coming off.
That's because Bitcoin and other digital currencies have lost all of the gains they've made
since Trump's inauguration in January.
Here to explain what's going on is George Steer.
He's the FT's US markets correspondent.
Hi, George.
Hello.
So what is going on?
You know, what's soured sentiment on these digital coins?
So the global cryptocurrency market hit a fresh high on October the 6th when the total value peaks at around 4.2,
4.3 trillion dollars.