Bloomberg Initial public offerings are heading for their longest drought since the global financial crisis — and bankers don’t expect a revival anytime soon. A mix of rising inflation and interest rate hikes aimed at taming it have hurt stock market valuations and eroded investor appetite for the high-growth IPO candidates that have driven deals in recent years. Just …

  Bloomberg Bitcoin dropped back below $17,000 and several smaller cryptocurrencies referred to as altcoins posted significantly steeper declines as concern increases that the digital-asset market’s woes are far from over. The largest token dropped as much as 3.7% to $16,762. Bitcoin reached its highest price since Sam Bankman-Fried’s crypto empire filed for bankruptcy last month. Ether declined as much …

Bloomberg A cofounder of the OneCoin pyramid scheme pleaded guilty to his role in the global, multibillion-dollar fraud. Karl Sebastian Greenwood admitted OneCoin, which he founded in 2014 with Ruja Ignatova, the so-called “Cryptoqueen,” was based on a phony cryptocurrency. Greenwood, who was arrested in Thailand in 2018 and extradited to the US, pleaded guilty to three criminal counts of …