July 6 2022 🕓 3 min
Gold is in free fall, attacking 1750$
The fear of economic slowdown brings a bloodbath for gold. The yellow metal is negatively affected by the possible recession fears.
India to introduce 30 % crypto tax
February 1 2022
India has had a little "back and forth" with cryptocurrencies for some time. While it looked on many occasions as if this country was planning to ban the cryptocurrencies, the reality will be different. According to the recent news, India will introduce 30 % tax on cryptocurrency transactions in the next two years. Moreover, its CBDC - digital rupee - should be introduced before this law becomes reality.
More market movers from category
July 6 2022
Another crypto lender going bust
Voyager, a currently troubled crypto lender, has just filed for Chapter 11 bankruptcy in the United States. The company is seeking a restructuring plan, which they view as the best options under the current circumstances. The list of crypto companies being troubled by the current market stage is thus still growing.
July 4 2022
New luxury crypto card released
Bitcoinblack has just released a new crypto card in cooperation with Visa. The card should have no spending limit policy and will be issued only to 10 000 people. It will offer different benefits and perks for the high-net-worth individuals in the cryptospace from access to luxury mansions, airport lounges, private jets any much more.
July 3 2022
Duke Energy exploring Bitcoin mining
Duke Energy, the second largest power company in the United States, is reportedly studying Bitcoin mining. The results of this research should help the company with onboarding of the miners on the grid. Before that, the company is going to test its findings on micro-grid with different energy sources.
July 2 2022
3AC filing for bankruptcy in the US
Three Arrows Capital, one of the biggest crypto hedge funds, has been in rather unpleasant conditions for few weeks now. The situation forced 3AC to file for bankruptcy in the United States. The step should protect the company from losing assets to liquidators as it protects US assets. The future of the company remains uncertain.
July 1 2022
The worst quarter in the history of BTC
Bitcoin has lost around 56 % of its price in the past three months, which means that it has closed the worst quarter in its history. Until now, the worst quarter was the Q1 of the year 2018, when BTC lost about 50% of its price after it reached ATH. Yet, many view this as an excellent opportunity for buying and DCA.
June 30 2022
SEC rejected Grayscale’s Bitcoin ETF – lawsuit incoming
The US Securities and Exchange Commission has rejected yet another Bitcoin spot ETF. The proposed move from Grayscale to switch Grayscale Bitcoin Trust (GBTC) to Bitcoin ETF was rejected due to failure to meet the required standard to prevent fraud and manipulation. Grayscale decided to take this decision to the court and sued SEC immediately.
More market movers
July 6 2022
Another crypto lender going bust
Voyager, a currently troubled crypto lender, has just filed for Chapter 11 bankruptcy in the United States. The company is seeking a restructuring plan, which they view as the best options under the current circumstances. The list of crypto companies being troubled by the current market stage is thus still growing.
July 6 2022
Most of the currencies are weakening in pair with dollar. However, euro seems to be losing steam pretty sharply as it reached the weakest point since 2002 in pair with dollar. The situation is so dramatic, that with 1.02 dollars "buying" 1 euro, many believe that the parity of these two currencies is closer than ever.
July 5 2022
Just moments ago, AstraZeneca has stated that it will buy a biotechnology firm TeneoTwo for 1.27 billion dollars. The move should help with the "cancer portfolio" of AstraZeneca, since the U.S.-based TeneoTwo has been testing some experimental treatments such as T-cell engager, which are used to fight the cancerous cells.
July 5 2022
EU trying to lure IPO investments
The EU Listing Act, which is supposed to be put forward by the end of this year, should help incentivize mainly deep technology companies to open up and raise funds in Europe. The main reason behind attracting an expected 47 billion dollars is the ease with which the founders will be able to keep the control over the firm once it goes public.
July 4 2022
New luxury crypto card released
Bitcoinblack has just released a new crypto card in cooperation with Visa. The card should have no spending limit policy and will be issued only to 10 000 people. It will offer different benefits and perks for the high-net-worth individuals in the cryptospace from access to luxury mansions, airport lounges, private jets any much more.
July 4 2022
Israel CB significantly hiking rates
Interest rate hikes by central banks can be seen all over the world. The Israel central bank is yet another institution that has decided to tackle the inflation by hiking the interest rates. The monetary committee of the country decided half a percentage point rate hike, from 0.75 % to 1.25 %, which is the biggest move since 2011.
News
July 6 2022 🕓 3 min
USD/JPY stays strong despite a plunge in yields
USD/JPY has so far ignored recent plunge in bond yields as there are really no reasons to buy JPY right now.
July 6 2022 🕓 3 min
Norway strike could cut oil output by 15%
Workers on offshore oil and gas platforms have launched a strike, which the union says is expected to escalate over time.
July 6 2022 🕓 2 min
Reserve Bank of Australia raises base rate
The Reserve Bank of Australia (RBA) raised its base rate by half a percentage point to 1.35%. It shows us the fastest increase since 1994.
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