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Coinbase: Coinbase hangover rattles crypto assets with bitcoin in free fall


The mania that drove crypto assets to records as Coinbase Global Inc. went public last week turned on itself on the weekend, sending Bitcoin tumbling the most since February.
The world’s biggest cryptocurrency plunged as much as 15% on Sunday, just days after reaching a record of $64,869. It subsequently pared some of the losses and was trading at about $56,440 at around 8:25 a.m. in Tokyo Monday.
Ether, the second-biggest token, dropped as much as 18% to below $2,000 before also paring losses. The volatility buffeted Binance Coin, XRP and Cardano too. Dogecoin the token started as a joke bucked the trend and is up 7% over 24 hours, according to CoinGecko. ....

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Cryptocurrency liquidations hit record $10 billion amid US crackdown rumours and power blackouts in China


Cryptocurrency liquidations hit record $10 billion amid US crackdown rumours and power blackouts in China
Rounak JainApr 19, 2021, 12:44 IST
Bitcoin prices have crawled back up, but traders have lost $10 billion due to the crashUnsplash
Cryptocurrency traders registered $10 billion in liquidations as cryptocurrencies plummeted due to a combination of negative news.
The first trigger was the unconfirmed rumours of the
US Treasury crackdown that linked cryptocurrencies with money laundering.
The second trigger was the
power blackouts in China’s Xinjiang region, which is a major
Bitcoin mining pool.
Cryptocurrency liquidations hit a record $10 billion in an overnight crash triggered by rumours of US crackdown, and power blackouts in China’s Xinjiang province which resulted in a 50% decline in the Bitcoin hash rate. ....

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Saudi Arabia's SRC gets 'A' Fitch rating before planned bonds, Al Arabiya reports


Saudi Arabia s SRC gets A Fitch rating before planned bonds, Al Arabiya reports
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Last Updated: Apr 19, 2021, 04:25 PM IST
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SRC plans to issue up to $1 billion in sukuk, or Islamic bonds, before the end of the year, its director of treasury and global capital markets told Al Arabiya.
Agencies
Last month, SRC sold 4 billion riyals in a two-tranche private placement of sukuk, guaranteed by the Saudi finance ministry.
Saudi Real Estate Refinance Co (SRC) has been assigned an A credit rating by Fitch Ratings before a planned issuance of international bonds, an executive told Saudi TV channel Al Arabiya on Monday. ....

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US Treasury report designates India a currency manipulator, due to huge dollar purchases


America retains India in currency manipulator watch list due to huge dollar purchases
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In addition India has had a trade surplus with the United States. But Reserve Bank s official stand has always been that it would continue its intervention to avoid any undue volatility in the currency market.
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The US treasury department has retained India in the currency manipulator watch list in its semi-annual report submitted to the Congress since COVID-19 induced global lockdown since March 2020. The reason being higher dollar purchases by RBI of close to 5% of GDP large on account of huge capital inflows, which is higher than its threshold of 2% of GDP. ....

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U.S. Treasury eyes corporate tax system as way to tackle climate change


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WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen and Deputy Secretary Wally Adeyemo met with environmental groups on Friday to discuss ways to leverage the corporate tax system to help address climate change, Treasury said in a statement.
FILE PHOTO: Janet Yellen speaks during a panel discussion at the American Economic Association/Allied Social Science Association 2019 meeting in Atlanta, Georgia, U.S., January 4, 2019. REUTERS/Christopher Aluka Berry/File Photo
Yellen discussed the importance of “using all the tools at our disposal, including the tax code, to drive toward net-zero emissions,” the statement said.
She noted that President Joe Biden’s proposed tax changes would begin to modernize how the United States treats the fossil fuel industry by removing subsidies that date back to the early 1900s, the statement said. ....

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