Author: Steven Sahiounie

The XRP price stands at $0.372400 this morning, having risen by 1.2% in the past 24 hours in the context of a 2% increase for the market as a whole. Its current price means that it has fallen by 2% in a week and by 1% in the last 30 days, although the altcoin has gained by 9.5% since the start of the year. While Ripple had reported some exposure to Silicon Valley Bank, which was placed under federal receivership on Friday, CEO Brad Garlinghouse disclosed that the company expects no disruption to its day-to-day business. This seems to have steadied XRP’s…

Bitcoin’s latest resurgence, which saw the world’s largest cryptocurrency by market capitalization hit a new nine-month high in the mid-$26,000s on Tuesday, has been accompanied by a number of key technical and on-chain indicators roaring back to health and once again send a bullish BTC signal. Though the Bitcoin price has dropped back below the $25,000 mark once again as of the Wednesday Asia Pacific session, BTC is still up over 27% versus last week’s lows in the mid-$19,000s.  At the time, concerns about a series of high-profile failures of crypto/start-up/tech-friendly banks was weighing on the price. But bulls aggressively defended key long-term in…

Western policies in relation to Russian crude risk major uncertainties when clarity is most needed, the Saudi oil minister says Saudi Energy Minister Prince Abdulaziz bin Salman has warned Western states against capping the price of crude oil supplied by the kingdom, adding that any attempts to impose a ceiling would be met with a halt of sales and production cuts. He added that other major oil producers would most likely follow suit. “So, if a price cap were to be imposed on Saudi oil exports, we will not sell oil to any country that imposes a price cap on…

London/Abu DhabiCNN — Dubai has scrapped a 30% tax on alcohol and will no longer charge tourists or expats for permits to buy alcoholic drinks as the emirate tries to attract more foreign workers and visitors in the face of growing regional competition. Two major retailers in the city, located in the United Arab Emirates (UAE), said they had slashed their prices to reflect the tax cut. “Buying your favorite drinks is now easier and cheaper than ever,” Maritime and Mercantile International (MMI) announced on its Instagram account on Sunday. MMI, one of Dubai’s biggest alcohol retailers and a subsidiary of the state-owned Emirates group,…

Volkswagen plans to invest 180 billion euros ($193 billion) over five years in areas including battery production and the sourcing of raw materials in a bid to cut electric vehicle costs and protect its market share, it said Tuesday. Over two-thirds of the company’s five-year investment budget is allocated to electrification and digitalization, including up to 15 billion ($16 billion) for batteries and raw materials. With markets in turmoil over the collapse of Silicon Valley Bank, Chief Financial Officer Arno Antlitz told analysts, however, that the company could postpone some battery investments if the market did not grow as expected. “The…

Hong KongCNN — China’s economic recovery appears to be on track as it gradually emerges from three years of its strict zero-Covid policy. But rising youth unemployment underscores the tough challenges ahead for the new government to achieve its economic targets and maintain social stability. The National Bureau of Statistics on Wednesday released key economic indicators for January and February combined, a usual practice to avoid any distortion by the long Lunar New Year holiday, which usually falls on different dates every year. Industrial production rose by 2.4%, accelerating from December’s 1.3% growth. Retail sales increased 3.5%, reversing a 1.8% decline in the previous month. The…

Decentralized lending protocol Euler Finance will offer a $1 million reward for information about the attackers behind its nearly $200 million exploit that occurred Monday. This article was originally published by CoinDesk.

Some market observers say bitcoin’s recent price movements were largely driven by investors looking for alternative assets to park their funds amid a banking clampdown in the U.S. Higher-than-usual market volatility affected bulls and bears alike as crypto futures racked up $300 million in liquidations in the past 24 hours. Liquidation refers to when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. It happens when a trader is unable to meet the margin requirements for a leveraged position (fails to have sufficient funds to keep the trade open).…

Good morning. Here’s what’s happening: Prices: Bitcoin, ether and other major cryptos spent another day in the green after an encouraging inflation report and continued hopefulness for a less hawkish Fed. Insights: The crypto industry must mature to develop productive relationships with banks. Bitcoin embraced the more upbeat vibe and continued its romp upward for much of Tuesday, rising above $26,000 at one point for the first time since last summer before retreating more than a $1,000. The largest cryptocurrency by market capitalization was recently trading at $24,936, up about 2% over the past 24 hours. BTC’s stall followed two consecutive days…

The EU’s biggest economy is a long way from replacing Russian pipeline supplies, data shows Germany could be facing a shortage of liquefied natural gas (LNG) next winter as volumes secured under existing contracts are falling short of demand in the country, Bild am Sonntag reported on Sunday, citing Mark Helfrich, a member of the Bundestag’s committee on energy affairs. In a letter to the Budget Committee, German Vice Chancellor Robert Habeck referred to statistics showing that current gas deals provide 75 billion cubic meters (bcm) of LNG, while the country needs 86 bcm to keep the EU’s largest economy…