Author: Steven Sahiounie

One section of Credit Suisse’s bondholders is set to be wiped out following the struggling bank’s takeover by UBS, causing them to see investments worth 16 billion Swiss francs ($17 billion) become worthless. The Swiss regulator FINMA announced Sunday that the so-called additional tier-one bonds, which are widely regarded as relatively risky investments, will be written to zero as part of the deal. The move has angered Credit Suisse AT1 bondholders as their investments have seemingly been lost, while shareholders will receive payouts as part of the takeover. Usually, equity investments would be classed as secondary to AT1 bonds. Therefore, the decision “can…

The U.S. trading hours continue to be a major source of bullish pressure for bitcoin. The recent bank failures in the U.S. have exposed the fractional reserve banking system’s core limitations and strengthened the case for investing in bitcoin (BTC). Analysis by crypto services provider Matrixport shows that American buyers are leading the safe haven bid for the cryptocurrency. Bitcoin has rallied by over 40% in ten days, reaching a nine-month high above $28,000, CoinDesk data show. “Since the dip on March 10, Bitcoin has rallied by +44%. +31% of the rally was driven during the U.S. trading hours, and an indicator that Americans…

A put option that expires at $2 is selling for 76 cents on options marketplace Clober. Arbitrum (ARB) token derivative markets are popping up on centralized and decentralized exchanges ahead of Thursday’s claim event. Decentralized marketplace Clober is letting traders purchase puts on ARB with strike prices of 50 cents, $1, $2, $4, $8 and $16. These have cumulatively seen over $50,000 in trading volumes in the past 24 hours after issuance. Put options are a type of option that increases in value as the price of the underlying asset, such as a token or equity, falls. “$ARB $2 put…

A Crypto Rank team of analysts wrote that “despite the inherent volatility of the cryptocurrency market, venture capitalists…continue to pour significant investments into the industry.” Is Bitcoin’s Rally Coming to an End? Good morning Asia, here’s how the markets are beginning the East’s trading day. Bitcoin is beginning the trading day in the red, down 0.63% to $27,805. Ether is down 2.5% to $1,741. The big question on everyone’s mind is, of course, interest rates. In a recent note, Goldman Sachs Chief Economist David Mericle said that the Fed will pause interest rate hikes because of stress on the banking…

Cuban President, Miguel Mario Díaz-Canel, has affirmed his country’s unconditional and constant support for Syria in all circumstances. “After many years of fierce war waged against Syria, it has remained strong as a state and its people remained united,” President Canel said in an interview with al-Mayadeen T.V. Channel. He hailed Syria’s steadfastness in confronting the aggressive attack that was aimed at destroying it. Canel strongly condemned sanctions imposed on the Syrians and the Western aggressive policy towards the country, stressing Cuba’s rejection of the Israeli attack against Syria, a few days after the devastating earthquake struck the country. Regarding…

The visit was prepared with information security in mind, and Tokyo, contrary to the accepted procedure, did not announce the trip Japanese Prime Minister Fumio Kishida, who chairs the G7, has gone on a visit to Ukraine, a Japanese diplomat told a TASS correspondent on Tuesday, without giving any details of the trip. According to the Japanese Foreign Ministry, Kishida during his speech in Kiev will condemn Russia, express solidarity with Ukraine, confirm Tokyo’s support, as well as point to determination to “support the international rules-based order.” The visit was prepared with information security in mind, and Tokyo, contrary to…

Beijing has been a crucial economic partner for Moscow in the face of intensifying Western sanctions Chinese President Xi Jinping arrived in Moscow on Monday for a three-day official visit to discuss strategic cooperation and other issues with his Russian counterpart Vladimir Putin. RT looks at the state of economic relations between the two nations in the face of growing outside pressure, and what it means for Russia. This article was originally published by RT.

Saad Ibrahim Almadi, a Saudi-US dual citizen was released from prison in a surprise decision from Saudi Arabian courts. Saad Ibrahim Almadi, a 72-year-old US citizen of Saudi origin, was released from prison after being arrested in 2021 and sentenced for 19 years for criticizing the rules of the Kingdom of Saudi Arabia. His son, Ibrahim, told AFP that the Twitter posts which triggered the Saudi decision were on various topics such as the war on Yemen and the killing of journalist Jamal Khashoggi. The release, which was announced on Tuesday, came as a surprise to the family after the court had ordered an…

Jakarta wants to reduce its dependence on foreign payment systems, citing sanctions on Russia The Bank of Indonesia is preparing to phase out Visa and Mastercard while introducing its own domestic payment system, Antara news agency reported on Monday, citing the regulator. Last week, Indonesian President Joko Widodo urged regional authorities to wean themselves away from foreign payment systems and start using cards issued by local banks. He argued that Indonesia needed to shield itself from geopolitical disruptions, citing the sanctions targeting Russia’s financial sector from the US, EU, and their allies over the conflict in Ukraine. “Be very careful.…

More protesters are detained for standing against Macron’s pension reforms. Seventy people were reportedly detained in Paris on Monday evening during protests against the adoption of pension reform by France’s National Assembly, local TV reported, citing a police source. Police and protesters clashed in Paris after two votes of no confidence in the government over pension reform. French Prime Minister Elisabeth Borne announced on March 16th that the government had adopted the legislation raising the retirement age from 62 to 64 years by invoking Article 49.3 of the constitution, which enabled the bill to be passed without the approval of…