US law firm Latham & Watkins is cutting off automatic access to its international databases for its Hong Kong-based lawyers, one of the oldest and best-known hedge fund strategies has suffered nearly $150bn in client withdrawals over the past five years, and the price of bitcoin touched $50,000 for the first time since 2021. Plus, the FT’s Kaye Wiggins explains how a Chinese financier is turning small businesses into a data gold mine. Mentioned in this podcast:Latham & Watkins cuts off its Hong Kong lawyers from international databasesDecline of the star stockpicker: investors pull $150bn from equity hedge fundsBitcoin price touches $50,000 after spot ETF launches spur demandThe financier turning China’s noodle joints and karaoke bars into a data gold mineThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.