Crypto’s 2025 U-turn

The cryptocurrency market is struggling as bitcoin has lost all its gains from this year, and HSBC leaders cannot agree on the bank's next chair of the board. Plus, the US House of Representatives votes on the release of the Jeffrey Epstein files today, and the Financial Times’ Alison Killing explains why an estimated multitrillion-dollar infrastructure project in Saudi Arabia may take decades to get done. 

Mentioned in this podcast:

Crypto market sheds $1.1tn as traders shun speculative assets

HSBC board at odds over candidates to succeed Mark Tucker as chair

Donald Trump backs vote to release Jeffrey Epstein files

End of The Line: how Saudi Arabia’s Neom dream unravelled

Today’s FT News Briefing was produced by Victoria Craig, Fiona Symon, Persis Love, and Marc Filippino. Our show was mixed by Kent Militzer. Additional help from Gavin Kallmann, Michael Lello and David da Silva. The FT’s acting co-head of audio is Topher Forhecz. The show’s theme music is by Metaphor Music.

Read a transcript of this episode on FT.com

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