Author: Steven Sahiounie

The latest price moves in crypto markets in context for March 23, 2023. Top Stories The U.S. Securities and Exchange Commission issued a Wells notice to crypto exchange Coinbase (COIN), a step that may lead to the SEC suing Coinbase or taking other enforcement actions against it.Coinbase said the SEC alleged the U.S.-based company may be operating in violation of securities laws in the running of its exchange and providing staking services. Coinbase now has an opportunity to respond to the SEC and possibly reach a settlement with the agency. The SEC sued Justin Sun, founder of the Tron blockchain, on Wednesday on allegations that his…

Omani Minister of Economy Said bin Muhammad al Saqri, discussed with Syria’s Ambassador in Muscat, Idris Maya, the preparations for holding the 6th session of the Joint Governmental Committee between the two countries and means of enhancing prospects of bilateral economic cooperation. The Omani Minister stressed the Syrian-Omani firm and deep-rooted relations, stressing the importance of upgrading them in all domains, particularly in the economic field. Al-Saqri indicated the importance of holding the 6th session of the for the Joint Governmental Committee and the need of turning all the plans and agreements into executive work programs that serve the interests of the two…

Some remain upbeat about the medium-term outlook for bitcoin and the broader market. Bitcoin gradually moved to just under $28,000 on Thursday as traders digested the quarter-point interest rate raise Wednesday by U.S. Federal Open Market Committee (FOMC), in line with expectations. The decision reinforced the Federal Reserve’s concerns that inflation remains problematic and strong commitment “to returning inflation to our 2% objective.” Bitcoin slid under $27,000 immediately after FOMC as traders took profits on a 20% gain over a seven-day rolling period. However, traders of bitcoin-tracked futures took on over $150 million in losses amid the volatility, with billions in open…

Prime Minister, Eng. Hussein Arnous discussed with the Ambassador of the People’s Republic of China in Damascus, Shi Hongwei, means of strengthening bilateral relations in different fields and mechanisms of upgrading the level of economic, political and strategic relations that bind Syria and China. Both sides discussed Thursday, the importance of Syria’s participation in the “Belt and Road Initiative”, as well as increasing trade exchange and activating cooperation between the business sectors in the two countries to establish joint investment projects. Arnous stressed the importance of opening broader prospects for bilateral cooperation in all fields to serve the interests of…

Iranian Foreign Ministry Spokesman Nasser Kanaani expressed his concern over the recent burning of an elderly Muslim man in Birmingham, England, as he left a mosque. Kanaani wrote in a tweet that this act is a result of “systematic Islamophobia in the West, which leads to widespread hatred and violence.” He called on the British government to investigate thoroughly and release the results of their investigation. “The act of burning an elderly Muslim man in public in the streets of Birmingham, England, while he was leaving the mosque, is horrifying and shocking. Systematic Islamophobia in the West results in widespread…

European stock markets were lower Thursday as investors digested the latest interest rate hikes by the U.S. Federal Reserve and the Bank of England. The pan-European Stoxx 600 was down 0.6% in afternoon trade, slightly trimming losses after the U.K. central bank announced its widely-expected 25 basis point increase. The blue chip index had been trading lower through the morning. The banking sector continued to lead losses, down 1.7%. Banks rallied on Tuesday and through much of Wednesday’s session before closing 0.2% lower. Construction stocks were down 1.4% and financial services dropped 0.9%, though tech stocks bucked the trend to…

Iranian Foreign Minister Hossein Amirabdollahian said the country is ready to contribute to the resolution of the Ukrainian crisis. Amirabdollahian and his Swiss counterpart Ignazio Cassis held talks on the phone over the most important bilateral, regional and international issues. He thanked the top Swiss diplomat for congratulating him on Nowruz and the beginning of the holy month of Ramadan. He pointed to the good and historical ties between the Islamic Republic of Iran and the Swiss Confederation, announcing Tehran’s readiness for holding a third session of the joint commission of the two countries. While appreciating Switzerland’s efforts as the…

Gold prices have more room to run as global banks struggle and the U.S. Federal Reserve renders another interest rate decision, potentially breaking all-time highs — and staying there. “A sooner Fed pivot on rate hikes will likely cause another gold price surge due to a potential further decline in the U.S. dollar and bond yields,” said Tina Teng from financial services company CMC Markets. She expects gold will trade between $2,500 to $2,600 an ounce. Investors have been flocking to gold and Treasurys as bank stocks have been whacked by the shuttering of Silicon Valley Bank and Credit Suisse’s implosion. Gold is…

Bitcoin has rallied nearly 70% so far this year — and industry insiders who spoke to CNBC remain bullish, with one saying the world’s biggest cryptocurrency could reach new heights. Bitcoin previously hit its all-time high of $68,990.90 in November 2021. Since then it has fallen about 60%. Marshall Beard, chief strategy officer at U.S.-headquartered cryptocurrency exchange Gemini, said $100,000 could be a possibility for bitcoin. “I think bitcoin probably breaks all-time highs this year,” Beard said, adding that the $100,000 price figure is an “interesting number.” Beard said that if bitcoin gets to its previous record high of near…

The Palestinian Health Ministry says the martyr was targeted by a bullet straight in the head, leading to a complete laceration of the skull. The Palestinian Ministry of Health on Thursday confirmed that 25-year-old Amir Imad Abu Khadijeh was shot dead this morning in an Israeli occupation forces raid in the village of Izbat Shoufa, southeast of the northern West Bank city of Tulkarm. The Ministry indicated that the martyr was brought to a hospital in Tulkarm after he was shot in the lower extremities and hit by a bullet in the head that led to a complete laceration of…