Source: CNBC
Security & Justice
Southern Lebanon Endures Massive Damage: 40,000 Homes Leveled Across 37 Towns
Israeli forces have systematically destroyed entire neighborhoods in southern Lebanon, leveling more than 37 towns and wiping out over 40,000 residential units, according to Lebanon's National News Agency.
Tuesday, November 5, 2024
Gaps in Coastal Radar Enabled Israeli Raid in Batroun, Army Commander Says
Lebanon’s army chief, General Joseph Aoun, detailed to Caretaker Prime Minister Najib Mikati how Israeli forces likely exploited gaps in the country's coastal radar system during the recent raid carried out in Batroun. The briefing comes as Lebanese officials seek answers on how Israel’s elite Shayetet 13 unit carried out the landing undetected.
Monday, November 4, 2024
Opinion
The Emptying of Baalbek Is a Moment to Take Stock
“Large numbers of people continue to flee their homes every day, as Israel’s military operations in Lebanon have been going on unabated.” These disturbing words could be from almost any news report about Israel’s invasion of its northern neighbour over the past month. However, they can be found in a report by the Norwegian Refugee Council’s Internal Displacement Monitoring Centre issued on July 27, 2006.
Saturday, November 2, 2024
A Future Without Hezbollah
At the end of September, when Israel’s campaign to destroy Hezbollah was reaching its height, I met one of the group’s supporters in a seaside café in western Beirut. He was a middle-aged man with a thin white beard and the spent look of someone who had not slept for days. He was an academic of sorts, not a fighter, but his ties to Hezbollah were deep and long-standing.
Thursday, October 31, 2024
Sports
FC Barcelona Fears First Team Star Will Be Banned From Playing, Reports SPORT
FC Barcelona is concerned that one of its main first-team stars will be banned from playing at the turn of 2025 because of issues related to his registration and Financial Fair Play (FFP) limits according to SPORT, which cited anonymous sources.
Friday, November 1, 2024
Tottenham Forward Son Heung-min Crowned Asia’s International Player of the Year
Tottenham forward Son Heung-min was crowned as Asia’s International Player of the Year for the fourth time by the Asian Football Confederation at its annual awards ceremony Tuesday.
Wednesday, October 30, 2024
Thursday 28 July 2022 12:52:39
Bitcoin Briefly Jumps Above $23,000 as It Attempts Another Rally Following Fed Rate Hike
Bitcoin rose above $23,000, following stocks higher after the U.S. Federal Reserve raised interest rates but suggested the pace of hikes could slow.
Cryptocurrencies have been quite correlated to U.S. stocks, in particular the Nasdaq, which on Wednesday jumped 4%.
Bitcoin traded at $23,168.88 at around 3 a.m. ET on Thursday morning, up around 9% from 24 hours prior, according to data from CoinGecko.
Other digital coins rose too. Ether was about 13% higher at $1,645.56.
On Wednesday, the Fed raised its benchmark interest rate by 0.75 percentage points as its looks to fight rampant inflation without tipping the economy into recession. But the central bank’s chair Jerome Powell suggested that the pace of rate rises could slow, which sparked an equity rally on Wednesday which has fed through to European and Asian trading on Thursday.
“The conclusion of Wednesday’s Fed meeting opens up a summer window for a Bitcoin relief rally, given we now have two months until policymakers next deliberate on monetary policy,” Antoni Trenchev, co-founder of cryptocurrency wallet Nexo, said in a research note.
Bitcoin is attempting to stage a sustained rally after several failed attempts this month. The world’s largest cryptocurrency has been trading within a range of between $20,000 to just over $24,000 since mid-June after a brutal crash this year wiped off 50% of its value.
“The next 24 hours will be a true test of Bitcoin’s re-discovered resilience after it shrugged its shoulders at this month’s stellar U.S. inflation data and didn’t wince when Tesla announced it has sold most of its BTC (bitcoin) holdings,” Trenchev said.
Tesla said last week that it had sold 75% of its bitcoin holdings.
The cryptocurrency market has been battered this year with billions of dollars being wiped off as macroeconomic issues have taken their toll and companies have imploded. Two high-profile examples are crypto lending platform Celsius and hedge fund Three Arrows Capital which have both filed for bankruptcy and brought many investors down too.
Crypto market players who previously spoke to CNBC said they are uncertain whether the shakeout and deleveraging is over yet.
