Author: Steven Sahiounie

Crypto exchange Binance said it will convert $1 billion worth of Binance USD (BUSD) to bitcoin (BTC), ether (ETH), BNB coin (BNB) and other tokens to support the market. The transaction from Binance’s industry fund to BUSD took 5 seconds and cost merely $1.29, Binance CEO Changpeng Zhao said in a tweet on Monday. The move likely contributed to buying pressure. Bitcoin jumped over $22,500 in Asian hours on Monday while ether regained the $1,600 market. BNB rose over 10% to trade over $300, setting two-week highs, as per CoinGecko data. The move came as the crypto market suffered another blow in early…

Bitcoin (BTC) and ether (ETH) surged 10% in the past 24 hours to retrace all weekend losses after crypto markets plunged following troubles at Silicon Valley Bank (SVB) on Friday night. Bitcoin inched just over $22,500 in Asian morning hours on Monday while ether regained the $1,600 level, as per Coingecko. The move came as USD Coin (USDC)-issuer Circle said Sunday it would cover all shortfall in reserves, while Federal regulators said SVB depositors will have access to all funds on Monday morning after the U.S. open. Traders betting on a market-wide decline were caught off guard as a broader market recovery in the past…

HSBC has scooped up the UK arm of failed Silicon Valley Bank, securing the future of thousands of British tech firms that hold money at the lender. Had a buyer not been found, SVB UK would have been placed into insolvency by the Bank of England following the stunning collapse of its parent in the United States. In a statement, the central bank said it “can confirm that all depositors’ money with SVB UK is safe and secure as a result of this transaction.” HSBC, Europe’s biggest bank, announced the £1 ($1.2) deal early Monday morning, saying it would be effective “immediately.” The…

China’s new prime minister tried to reassure the private sector in his first press conference, as concerns grew about the country’s future political directions with the formation of a new government loyal to leader Xi Jinping . Xi’s longtime aide Li Qiang officially succeeded Li Keqiang as prime minister over the weekend. It has been tasked with reviving the world’s second-largest economy after three years of Covid restrictions and as tensions between the US and China escalate in a variety of areas, including technology and business. In his first press conference as the country’s number two official, he sought to galvanize the private sector,…

The River Mersey is one of Europe’s most iconic waterways. On top of being a major hub for shipbuilding and industry, it’s been a source of inspiration for a host of writers, artists and musicians over the years. If all goes to plan, the Mersey could also play a major role in the U.K.’s sustainable future. Authorities in Liverpool want the river to be home to a huge tidal power project which, they say, could power as many as 1 million homes, generating thousands of jobs for the region in the process. If built, the facility would have a capacity of at…

The Russian army shot down four Ukrainian missiles that were targeting the Russian region of Belgorod. “Our air defense system over the city of Belgorod and the Belgorod region shot down 4 missiles, and the damage is currently being determined on the ground,” the district governor, Vyacheslav Gladkov, wrote on his Telegram channel, according to Tass Agency. He added  “There is also damage from rocket debris in two residential buildings.” Source: SANA

The Israeli occupation forces detained 18 Palestinians this morning in raids at their homes in the occupied territories, according to various sources. Nine people were detained from the Hebron governorate in the south of the West Bank, including two siblings from the town of Tarqoumia, and two other siblings from the town of Dura. Four were from the town of Beit Kahel and the ninth was from Hebron city. In Bethlehem, also in the south of the West Bank, the Israeli forces detained a 16-year-old child from Aida refugee camp and a 23-year-old former prisoner from the town of Nahalin.…

Trade between the countries has been cratering amid Washington’s increasing sanctions against Moscow Exports of American goods to Russia have continued to tumble, dropping to a record low of $44.6 million in January 2023, data from the US Bureau of Economic Analysis shows. According to the report, which was issued last week, exports have more than halved compared with the previous month, when deliveries amounted to $112.8 million. In annual terms, the volume of exports crashed nearly 90% from $396.8 million in January 2022. Data shows the export figure was lower only in January 1992, at $1.3 million, a figure…

China and the United States must cooperate for the common good, since deterrence and oppression does not benefit either side, Premier of China’s State Council Li Qiang said on Monday. “China and the US can cooperate, China and the US must cooperate, China and the US have great potential for cooperation, while deterrence and suppression will not benefit anyone,” Li Qiang at a press conference after the first session of the 14th National People’s Congress (NPC) The head of the Chinese government emphasized that the issue of severing economic ties between Beijing and Washington is regularly aggravated, however, it is unclear…

A full investigation, not ludicrous leaks to the press, is needed in the high-profile case, Nikolay Patrushev said Russia does not know who blew up the Nord Stream natural gas pipelines last year, and wants to see a thorough investigation to get the answer, its most senior security official has said. Nikolay Patrushev, secretary of Russia’s Security Council, also dismissed a claim that Western intelligence services suspect a private “pro-Ukrainian group” of blowing up the pipelines as being meant for people lacking in critical thinking skills. “The narrative that the US and the UK were not involved in this terrorist…