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UK public sector borrowing sees second highest August on record FTSE rises
UK public sector borrowing sees second highest August on record FTSE rises

European stocks recovered some of yesterday's losses on Tuesday morning in London, as new data from the Office for National Statistics showed the UK's public sector borrowing had seen its second highest August on record.

pNetwork hacked - Over 12M USD worth of Bitcoin stolen!
pNetwork hacked - Over 12M USD worth of Bitcoin stolen!

Cross-chain DeFi platform pNetwork has been hacked on Binance Smart Chain to the tune of approximately $12.7 million worth of Bitcoin.

China's Evergrande is probably 'too big to fail': Market strategist
China's Evergrande is probably 'too big to fail': Market strategist

The thought of a Lehman Brothers-esque collapse in China sent U.S. investors running for the exits Monday.

Why Brent Johnson Santiago Capital CEO believe that Banks will Crash the Market
Why Brent Johnson Santiago Capital CEO believe that Banks will Crash the Market

Synopsis: Brent Johnson, CEO of Santiago Capital, is joined by Steven Van Metre of Steven Van Metre Financial to discuss the most pressing issues on the macro landscape. After exploring whether quantitative easing (QE) and low rates are inflationary or deflationary, Johnson and Van Metre take a deep dive into the plumbing of the Treasury market and specifically the operations of the Fed’s FOMC. Van Metre explains why he believes the Fed’s policies have actually caused banks to tighten their lending standards rather than loosen them as the Fed intended. The pair then take a look at swap lines and the Eurodollar funding market as well as the effect a credit contraction would have on the U.S. dollar. Lastly, Van Metre talks about his Real Vision journey and how the knowledge he’s gained has helped him as a financial advisor

Exclusive: Here's why Bitcoin plunged to 50k overnight!

Cruising along north of $60K for the past few days, bitcoin (BTC-USD) last night tumbled to just above $52K in the space of a few minutes. Some exchanges printed lows of around $50K. The move dragged down about the whole crypto sector, including popular names like Ether (ETH-USD), Binance Coin (BNB-USD), and Filecoin (FIL-USD).


Likely the number one reason for the plunge was a bit too much frothiness surrounding last week's Coinbase (NASDAQ:COIN) IPO, which had helped send bitcoin to a new record high just shy of $65K. Alongside, Dogecoin (DOGE-USD) - for example - rose above $0.40 - it had been trading at a fraction of a penny not long ago. The Dogecoin frenzy apparently crashed Robinhood's crypto trading on Friday.

As for specific news, a wholly unverified and unlikely to be true rumor shot around Twitter that the Treasury was looking into charging several financial institutions with using cryptocurrencies for money laundering.

Others are blaming the move on a near-50% decline in the Bitcoin Hash Rate thanks to power outages in China. The hash rate is the measuring unit of the processing power of the Bitcoin network, and generally speaking, the higher, the better.

Bitcoin has recovered modestly, now trading at $54K. Speaking of frothiness, Greenlight's David Einhorn last week ruminated on "quasi-anarchy" ruling the markets.


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