Author: Steven Sahiounie

Washington plans to introduce new export restrictions to further curb China’s access to advanced American chip technology, Bloomberg reported on Saturday, citing sources. The measures, which focus on chip manufacturing capabilities, will double the number of equipment types that require special export licenses, according to the report. Sources also claimed that the US plans to coordinate the new measures with the governments of Japan and the Netherlands. Because the three countries dominate the global chip making technology market, many analysts believe that Washington would need the support of the other two for its measures to be effective. The countries’ governments…

Some $4 million in USDC futures were liquidated in the past 24 hours, Coinglass data shows. USD Coin (USDC) fell under 90 cents on Saturday amid little respite for the token’s recovery as traders likely fled to other stablecoins to protect capital. USDC traded at 87 cents in Asian morning hours, reaching lifetime lows. It has since rebounded to just over 90 cents as of Asian evening hours. Some traders bet on a gradual recovery to the $1 mark, buying the relatively cheap USDC for a potential 10% gain should the tokens repeg to the intended dollar mark. Leverage could potentially…

USDC’s normally stable price sank to $0.89 from $1 while Ethereum gas fees soared hours after the crypto-tied bank failed. The cryptocurrency crisis went into high gear early Saturday as Silicon Valley Bank’s (SVB) failure caused some of the industry’s core plumbing to go haywire. Stablecoin prices wildly swung and gas fees soared as investors scrambled to move money around hours after regulators shut SVB amid a run on the bank, which had ties to crypto. It was the second crypto-linked bank to go under this week. In the aftermath, Treasury Secretary Janet Yellen convened top financial regulators to discuss the collapse of SVB. Not long after, crypto markets…

MakerDAO’s decentralized stablecoin hit an all-time low of $0.88 in Asian afternoon hours on Saturday. As the market continues to digest the impact of the sudden collapse of tech-focused Silicon Valley Bank, days after Silvergate went into voluntary liquidation, algorithmic stablecoin DAI has been knocked off its peg and has hit an all-time low of 0.88 cents. This article was originally published by CoinDesk.

Bitcoin and ether rose as much as 4% in the past 24 hours after a steep fall on Friday as contagion risks from the collapse of Silicon Valley Bank spread to crypto markets, specifically the exposure of USD Coin-issuer Circle to the bank. Ether (ETH) rose over $1,450 while bitcoin (BTC) jumped over the $20,000 mark on Saturday to post early signs of market stabilization. Both tokens fell below strong resistance levels on Friday. Other cryptocurrencies did not post similar gains, however, suggesting traders were not taking risks on lesser-known tokens yet. Polygon’s matic (MATIC) was up 1.6% while BNB…

NEW YORK — The United States rushed to seize the assets of Silicon Valley Bank on Friday after it experienced a run on the bank. Silicon Valley, the nation’s 16th-largest bank, failed after depositors — mostly technology workers and venture capital-backed companies — hurried to withdraw money this week as anxiety over the bank’s balance sheet spread. It is the second biggest bank failure in U.S. history, behind Washington Mutual during the height of the financial crisis more than a decade ago. Silicon Valley was heavily exposed to the tech industry and there is little chance of contagion in the banking…

Peru’s economy re-opens after three months of violent protests, damage has been inflicted on mining, tourism, key areas. Lima, Peru — The anti-government protests that killed dozens and dealt body blows to some of Peru’s most critical sectors are starting to wane but they have left their mark on the country’s economy. Operations in the country’s copper-rich south are steadily ramping up and the iconic ruins of Machu Picchu, the nation’s crown jewel, are once again open to foreign tourists. But for three months, vital highways were choked off by boulders and burning tyres, lucrative copper mines were paralysed and the rail…

Amid the wave of loud claims on the upcoming Ukrainian offensive on Crimea, the Kiev officials do not hide the Nazi nature of their goals. Adviser to the head of the office of the President of Ukraine turned to direct threats to the citizens of the Russian peninsula. The tourist season in Crimea this year will be “hot,” said Mikhail Podolyak, adviser to the head of the office of the President of Ukraine, in his recent interview. “Ukraine will explain that it needs to be treated not with respect, but with great fear,”  Mikhail Podolyak Podolyak believes that the population…

Since February last year, DB Cargo has transported 1,300 containers of humanitarian aid to Ukraine The German railway carrier Deutsche Bahn has stopped delivering humanitarian cargo to Ukraine free of charge, the German weekly Spiegel reported citing sources. After the outbreak of hostilities in Ukraine, the carrier began to transport aid there free of charge as a sign of support. “This support ended as quickly as it began. As of January 1, 2023, [subsidiary] DB Cargo appears to no longer be offering free transportation,” the magazine says. Since February last year, DB Cargo has transported 1,300 containers of humanitarian aid…

A blast hit the capital of Afghanistan’s northern Balkh province on Saturday, police said, days after an explosion claimed by Daesh (ISIL or ISIS) killed the province’s governor. “A blast has taken placed in the second police district of Balkh,” said Mohamad Asif Waziri, Balkh’s police spokesperson. “We will share details later.” He said the authorities did not expect a high number of casualties but were investigating. A journalist based in Balkh, Mohammad Fardin Nowrozi, told Reuters he and several other journalists were injured in the explosion, but did not provide further details. The cause of the blast was not…