Analysts from Venezuela have expressed their worries about the expulsion of a number of Russian banks from SWIFT, an international messaging system that allows the interconnection of banks. These measures could affect the finances not only of Venezuela, but also of other countries in the region, damaging their capability to move funds, which is highly…
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While the conflict in Ukraine is a hot topic, fears of rising inflation continue to haunt Americans residing in the country, as economists and analysts note U.S. inflation will likely remain high. Inflation is likely going to be worse than initially feared this year, Goldman Sachs explained in a report published on Sunday. Moreover, in…
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A bank run has started in Russia as citizens rush to withdraw cash amid escalating sanctions. The Russian ruble also nosedived to a record low, plunging more than 30%. “There are about 70 people in line. Eyewitnesses say the money in the ATM runs out within 40 minutes.” Russians Rush to Withdraw Cash as Sanctions…
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Reports on social media claim that citizens in Russian have been spending their cash on luxury items, electronics, and other goods in a bid to dump the ruble before the markets reopen today. A Moscow Times journalist claimed that the “mood” was similar to 2014, when the Russian markets were last rocked by sanctions….…
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After the EU, Canada, and the US agreed to remove selected Russian banks from the SWIFT messaging system, the Russian Central Bank is to be targeted next, which could make rubles “close to worthless.” In a joint statement on Saturday evening, the allies said they commit to ensuring that the Russian banks are disconnected…
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It’s the second day of Russia’s invasion of Ukraine, with the former moving undeterred by the sanctions imposed by certain Western countries. Among a great number of possible effects that the war could have or may have already had globally, the effect on the crypto industry is being discussed as well. … Read More:…
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Steve Schifferes, Honorary Research Fellow, City Political Economy Research Centre; Professor of Financial Journalism, City, University of London._____ The invasion of Ukraine comes at a delicate time for the world economy, which was just beginning to recover from the ravages of COVID. Russia’s war could now have far-reaching economic consequences, as financial markets tumble…
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Russia’s Central Bank is desperately trying to avoid a run on the fiat ruble in response to incoming sanctions measures from the EU, the United States, and their allies. And as the Ukraine crisis deepens, the bank has unleashed yet more extreme measures – which may eventually include freezing citizens’ foreign exchange funds…. Read…
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James Butterfill is Investment Strategist and Christopher Bendiksen is the Bitcoin Research Lead at major European digital asset investment firm CoinShares. __________ Bitcoin (BTC) had an immediate price response to the Ukraine invasion when the news broke early this morning. It has become evident that, at present, bitcoin is behaving as a risk asset,…
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During the course of the early morning trading sessions on Thursday (EST), 24-hour statistics show the crypto economy dropped more than 11% in value against the U.S. dollar. While the leading crypto asset bitcoin shed close to 10%, a myriad of alternative digital assets lost close to 20% in value. The crypto market downturn is…
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