France: Government survives no-confidence vote

The recent no-confidence vote against the government of French President Emmanuel Macron has been met with a narrow victory. The French National Assembly rejected the vote by only nine votes, with the measure needing 287 votes to pass, receiving only 278. The decision comes amidst growing opposition to a bill that would increase the retirement […]

‘No Intention of Keeping What Is Not Ours,’ Euler Finance Hacker Says

Last week, Euler Finance, a decentralized finance (DeFi) platform for borrowing and lending cryptocurrencies, suffered a nearly $200 million attack. The hacker, who had drained various cryptocurrencies using a flash loan exploit, sent a message to an Ethereum address linked to the platform, offering to begin a dialogue after Euler Finance issued an on-chain ultimatum […]

Dow industrials up by more than 300 points in final hour of trading

The U.S. stock market saw a positive trend in Monday’s session, even though all three key indices slipped from their session highs. The current upbeat mood among investors can be attributed to the news of UBS’s agreement to purchase its weakened rival Credit Suisse. The Dow Jones Industrial Average was among the leading indices, rising […]

AUD/USD remains depressed near 0.6700, fresh USD selling lends some support

The AUD/USD pair has struggled to continue its upward momentum and has retreated from a nearly two-week high of 0.6730, which was touched earlier this Monday. The spot prices, however, rebounded from the daily low and are currently trading below the 0.6700 round-figure mark heading into the North American session. The retreat comes after the […]

Gensler Is Trying To Do Too Much Too Fast

SEC’s Peirce Believes Gensler is Trying to Do Too Much Too Fast The Securities and Exchange Commission (SEC) may have a packed agenda that is hindering the implementation of important regulatory guidelines in the crypto space and other areas of securities policy, according to SEC Commissioner Hester Peirce. She expressed concerns that agency Chief Gary […]

Fed-funds futures traders see 73% chance of quarter-point hike on Wednesday, boost odds of May hike

The Federal Reserve’s rate hike trajectory appears unperturbed by recent news of a dominant U.S. bank’s scandal that could potentially impact the industry’s reputation. Fed-fund futures traders are pricing in a scenario where Federal Reserve policy makers might overlook recent banking-sector developments and continue hiking interest rates through May. This is significant news as it […]

Rattled crypto industry could emerge stronger after USDC depeg

USD Coin (USDC), the world’s second-largest stablecoin, has recently faced a depegging from the US dollar, dipping to as low as $0.85, before recovering to $1.00. The USDC had deposited $3.3 billion of its cash reserves with Silicon Valley Bank (SVB), a commercial bank, which faced significant challenges amid rapidly rising interest rates. The depegging […]

FDIC extends bidding for Silicon Valley Private Bank, Silicon Valley Bridge Bank

The Federal Deposit Insurance Corp. announced on Monday that it will extend the bidding process for the former units and assets of Silicon Valley Bank, which was renamed to Silicon Valley Bridge Bank after being taken over by the government on March 10th. According to the FDIC, multiple parties have shown considerable interest, and the […]

GBP/USD looks to have a good chance of holding and extending gains – Scotiabank

GBP/USD is back above the 1.22 level, marking a significant recovery after a period of weakness. Economists at Scotiabank expect the GBP to maintain its momentum and test the 1.2290/00 level. The sentiment towards the GBP has improved in recent weeks, with the currency benefiting from several factors, including a more stable political outlook in […]