Tag: Israel

How war in Israel will move Bitcoin: analyst explains

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The outbreak of war between Israel and Hamas last weekend has geopolitical and economic implications that could influence the price of Bitcoin and other cryptocurrencies, according to YouTube crypto analist EllioTrades. The attacks, which caught many Israelis by surprise on the final day of the Jewish holiday Sukkot, involved thousands of rockets fired from Gaza as well as armed militants breaching the border fence and waging attacks on the ground. Hundreds were killed as cities and buildings were left in ruin. The analyst explains that at first glance, the conflict…

Local Web3 community launches ‘Crypto Aid Israel’ to help displaced citizens

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A collective of local leaders in the cryptocurrency space, including Cointelegraph, 42Studio, MarketAcross, Collider Ventures, CryptoJungle, Nilos, Blockchain B7, Efficient Frontier, Ironblocks, the Israel Blockchain Association and Bits of Gold, have joined together ​​to establish Crypto Aid Israel, a global fundraiser to help displaced Israeli citizens in need of humanitarian aid. The ongoing and unfolding conflict has taken a heavy toll on the local civilian population, with casualties currently estimated in the thousands. According to Israeli news source Haaretz, the attacks on Israeli’s local population have resulted in the deaths…

Oil Prices Rise 4% as Hamas Attacks Israel Killing and Wounding Thousands

Oil prices rose today as Hamas and Israel continue their conflict with many injured and several dead on both sides. Oil prices have risen following the conflict between Israel and the Palestinian militant movement Hamas as the fight extends into the third day. Global benchmark Brent hit $88.41 per barrel on Monday after rising by 4.53%. The US West Texas also recorded an increase, climbing 4.69% to $88.67 a barrel. The conflict between both sides does not directly impact oil prices as neither is a major oil producer. According to…

Bank of Israel to Sell $30 Billion Foreign Reserves amidst Shekel’s Slide

This is not the first time Israel’s central bank has intervened in the foreign exchange market to stabilize the shekel. The Bank of Israel has announced its intention to sell up to $30 billion in foreign reserves to support the Israeli shekel as it faces its weakest point in seven years. The decision comes in the wake of a sharp currency depreciation, reaching its weakest point in seven years, following a deadly incursion by Hamas militants over the weekend. The incursion by the Palestinian militant group Hamas, which occurred during…

SBF’s trial begins, more layoffs, Israel at war with Hamas, Ripple secures another victory

This week, FTX founder Sam Bankman-Fried’s trial began; the crypto sector witnesses more layoffs; a Hamas-led attack stuns Israel; Ripple vs. U.S. SEC continues. SBF faces trial Sam Bankman-Fried’s trial continues on Tuesday, Oct. 10 with testimony from former Alameda CEO Caroline Ellison. Before the trial began on Oct. 3, attorneys declined a request for a Ukrainian FTX customer to testify remotely. Prosecutors wanted this because most FTX clients live in the U.S., and one Ukrainian couldn’t travel due to wartime restrictions.  Bankman-Fried’s legal team cited concerns about the emotional…

Israel, Hong Kong complete retail CBDC test emphasizing privacy, inclusivity

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The Bank for International Settlements and the central banks of Hong Kong and Israel released the results of Project Sela on Sept. 12. The project was a public-private partnership that used private intermediaries to create a retail central bank digital currency (rCBDC) combining the desirable characteristics of cash and the advantages of digitalization. The project leveraged the central banks’ diverse experience to incorporate a number of predefined policy, security, technology and legal features. The private participants were fintechs FIS and M10 Networks, which provided core products, Clifford Chance for legal…

Hong Kong and Israel Partner with BIS to Test CBDCs That Settle on Central Bank Balance Sheet

According to BIS research, 93% of central banks across the world are investigating the feasibility of issuing CBDCs. The Hong Kong Monetary Authority (HKMA) and the Bank of Israel (BOI) have partnered to address the privacy concerns associated with central bank digital currencies (CBDCs). This is according to a joint report titled “Project Sela – An Accessible and Secure Retail CBDC Ecosystem” released by the two central banks and the Bank for International Settlements Innovation Hub (BISIH) Hong Kong Centre. Project Sela has reportedly demonstrated that CBDCs have the potential…