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Coinbase To Suspend Ripple XRP Trading \u0026 Is This The End of XRP? - BlackRock Crypto Job

On Friday, a downgrade by Wells Fargo and the large block trades compounded the selling pressure. Helping to provide some support for gold, was a dip in the U. Bloomberg -- Goldman Sachs Group Inc. S, according to an email to clients seen by Bloomberg News. More of the unregistered stock offerings were said to be managed by Morgan Stanley, according to people familiar with the matter, on behalf of one or more undisclosed shareholders.

Wall Street is now collectively speculating on the identity of the mysterious seller or sellers. The liquidation triggered price swings for every stock involved in the high-volume transactions, rattling traders and prompting talk that a hedge fund or family office was in trouble and being forced to sell. CNBC reported forced sales by Archegos were probably related to margin calls on heavily leveraged positions. Maeve DuVally, a Goldman Sachs spokeswoman, declined to comment. A spokesperson for Morgan Stanley declined to comment. Price SwingsIn block trades, large volumes of securities are privately negotiated between parties, usually outside of open market.

The peers later recovered after traders said word of the offerings lessened fears that a broader trade was unfolding throughout the sector. That late rebound pushed up an index of companies engaged in internet-related businesses in China and the U. Items that protect you from the virus are medical expenses, the tax agency says. But on Monday, when Abu Dhabi begins selling futures contracts for its oil and then shipping the barrels from Fujairah, it will mark an aggressive shift by the emirate.

Investors globally are clamoring for commodities because of their high yields relative to other assets and to protect themselves against any rise in inflation. Creating a new benchmark will hardly be easy. Oil traders dislike change, especially when they believe markets already do a good job matching supply and demand.

It was forced to shelve the plan indefinitely. Murban will also face competition regionally.

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Platts publishes price assessments for Dubai oil and the Dubai Mercantile Exchange trades futures for Omani crude. Both act as benchmarks for Middle Eastern shipments to Asia. Abu Dhabi says the combination of high supply, easy access to oil-consuming markets from Fujairah and the absence of trading restrictions will attract plenty of buyers to its exchange.

The futures platform will be run by Atlanta-based Intercontinental Exchange Inc. The Murban exchange and the capacity boost could raise tension within the Organization of Petroleum Exporting Countries, according to Hari of Vanda Insights. The Gulf states dominate the cartel and tend to prize unity.

They also began unprecedented production cuts last year to bolster prices as the coronavirus pandemic spread. Oil was slightly lower on Monday, relatively placid after four sessions of wild swings in price, as efforts continued to dig out the giant container ship clogging the Suez Canal and little new emerged in the demand picture.

XRP Soars, Bitcoin Rollercoaster, eToro Down, India Crypto: Editor’s Pick

Both benchmarks are roughly where they were before the Ever Given became a household name after the container ship got stuck in a narrow portion of the canal last week. Hundreds of other container ships, bulk carriers and oil-laden tankers are backed up at both ends of the canal as salvage teams intensified excavation and dredging to refloat the metre yard ship. Bloomberg -- The family office of former Tiger Management trader Bill Hwang was behind the unprecedented selling of some U.

The companies involved ranged from Chinese technology giants to U. ViacomCBS and Discovery posted their biggest declines ever Friday, after the selling and analyst downgrades. The liquidation had triggered price swings for every stock involved in the high-volume transactions, rattling traders. Hwang was an institutional stock salesman at Hyundai Securities Co. Updates with reasons behind selling in second paragraph For more articles like this, please visit us at bloomberg. Copper prices rallied on Friday, making up some of the losses of earlier this week, fueled by optimism about near-term demand in Asian markets.

Goldman even emailed clients late Friday to inform them that it had in fact been one of the banks selling. Efforts to reach Hwang and his associates at Archegos were unsuccessful. In , he pleaded guilty on behalf of his firm, Tiger Asia Management, to U. Back in , Goldman was wrestling with the reputation damage from the 1MDB scandal in Malaysia as well as still trying to restore its name after the financial crisis.

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XRP Soars, Bitcoin Rollercoaster, eToro Down, India Crypto: Editor’s Pick

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