Oman’s MTCIT unveils massive $350 million Bitcoin mining facility in Salalah Free Zone

Related articles

• China has a yuan problem – Will USD make a play?

  TL;DR Breakdown China’s central bank, the PBOC, is intervening in the weakening of the yuan, aiming to slow down its depreciation. The PBOC’s strategy could potentially backfire, with companies possibly redirecting their capital to offshore accounts due to the decline in dollar deposit rates. Several countries, including Brazil, Iran, and Saudi Arabia, are increasingly using the Chinese yuan over the U.S. dollar for cross-border transactions. Description China finds itself in the throes of a currency dilemma, as it grapples with the weakening yuan. With the rapid depreciation, it’s clear that the dragon is trying to tame its own tail. But in the backdrop of these convulsions, is the United States poised to seize the moment? Steering through currency headwinds It’s no … Read more China finds itself in the throes of a currency dilemma, as it grapples with the weakening yuan. With the rapid depreciation, it’s clear that the dragon is trying to tame its own tail. But in the backdrop of these convulsions, is the United States poised to seize the moment? Steering through currency headwinds It’s no secret…

  Article 2023年7月3日

• Revolut faces potential banking license rejection by Bank of England

  TL;DR Breakdown Revolut’s banking license application is at risk of being rejected by the Bank of England. If denied a banking license, Revolut will continue offering its existing services but cannot provide mortgage or loan facilities in the UK. Crypto trading has significantly contributed to Revolut’s income, representing almost one-third of its earnings in 2021. Revolut, the UK-based neobank that offers crypto trading as part of its financial app, might have its banking license rejected by the Bank of England (BOE). According to reports, the BOE has informed the UK Treasury of its intention to reject Revolut’s application. The information regarding the source of this report remains unknown. Revolut, however, chose not to provide any comments regarding their ongoing licensing applications, as stated by a company spokesperson. Similarly, the BOE declined to comment on the matter. Revolut’s financial situation has faced scrutiny this year following an assessment by its auditors, BDO. BDO has raised concerns regarding Revolut’s 2021 revenue figures, casting doubt on their accuracy. Notably, BDO has stated its inability to verify the revenue for the past three quarters….

  Article 2023年5月20日

• Coinbase makes move to buy back junk bond

  TL;DR Breakdown Coinbase plans to repurchase up to $150 million of its 3.625% junk bonds maturing by 2031. The move comes as Bitcoin’s value approaches its 2023 peak. Investors can earn between $615-$645 per $1,000 principal in the buyback. Description In a bold financial move, Coinbase Global Inc., a leading force in the world of cryptocurrency, has signaled its intention to reclaim a chunk of its outstanding junk bonds. This maneuver comes as the cryptocurrency giant’s valuation teeters close to its annual zenith. A closer look at Coinbase’s offer Coinbase’s announcement indicated its willingness to … Read more In a bold financial move, Coinbase Global Inc., a leading force in the world of cryptocurrency, has signaled its intention to reclaim a chunk of its outstanding junk bonds. This maneuver comes as the cryptocurrency giant’s valuation teeters close to its annual zenith. A closer look at Coinbase’s offer Coinbase’s announcement indicated its willingness to repurchase up to $150 million of its 3.625% notes, which mature by October 2031. Those investors opting for the buyback stand to earn between $615 and $645…

  Article 2023年8月9日

• PEPE coin’s Telegram, X accounts compromised amidst value drop

  TL;DR Breakdown Pepe grapples with unauthorized access to its main Telegram channel. A key social media account associated with PEPE, known as LordKekLol on platform X, has also been compromised. Contrary to the hacking claims, the current owner of the compromised accounts suggests that the PEPE team is going through internal disagreements. Description Recently, the memetic cryptocurrency, Pepe (PEPE), has faced challenges on multiple fronts. The contributors of this eccentric digital currency have reported unauthorized access to their primary Telegram channel, urging the community to label it as a scam. Meanwhile, a prominent PEPE-associated account on X, previously known as Twitter, has also fallen into the hands of … Read more Recently, the memetic cryptocurrency, Pepe (PEPE), has faced challenges on multiple fronts. The contributors of this eccentric digital currency have reported unauthorized access to their primary Telegram channel, urging the community to label it as a scam. Meanwhile, a prominent PEPE-associated account on X, previously known as Twitter, has also fallen into the hands of alleged scammers. Amidst these challenges, the coin’s value has declined, and there’s a noticeable…

  Article 2023年9月10日

• Double crisis hits Europe: Recession avoidable, expert claims

  TL;DR Breakdown Europe is grappling with a “double crisis”: Russia’s invasion of Ukraine and its subsequent economic impact. Despite these challenges, Europe secured alternative energy sources, reducing dependency on Russia. The euro zone reported a growth rate of 3.5% in 2022, surpassing the U.S. and China. Description Dark clouds loom over Europe as the continent grapples with what Paolo Gentiloni, the European Commissioner for economic affairs, describes as a “double crisis.” The dual threats—the full-scale invasion of Ukraine by Russia and the subsequent economic ramifications—are no mere trifles. While these geopolitical shockwaves reverberated globally, Europe, particularly Germany, felt the pinch more than … Read more Dark clouds loom over Europe as the continent grapples with what Paolo Gentiloni, the European Commissioner for economic affairs, describes as a “double crisis.” The dual threats—the full-scale invasion of Ukraine by Russia and the subsequent economic ramifications—are no mere trifles. While these geopolitical shockwaves reverberated globally, Europe, particularly Germany, felt the pinch more than most. Russia’s Shadow and Europe’s Resilience Russia’s aggressive stance in Ukraine last February sent shivers down the European spine, igniting…

  Article 2023年9月4日