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On September 19, local time, U.S. Central Command Commander Brad Cooper released a video announcing updates on shipping through the Strait of Hormuz and U.S. military operations in the region. Cooper stated that the main shipping lanes of the Strait of Hormuz have been cleared of mines, and thousands of ships have passed through. More than 1 billion barrels of crude oil have been shipped out of the Strait of Hormuz by Gulf partners. He also stated that in the past two weeks, the volume of crude oil, cargo, and liquefied natural gas transported through the region has reached its highest level in the past six months. Cooper further stated that under the U.S. blockade, Iran has exported zero crude oil through the relevant shipping routes.September 19th - Tensions between Yemen and Saudi Arabia escalated. On the 19th, Riyadh, the Saudi capital, issued its first-ever air raid sirens. British media revealed that Saudi Arabias interceptor missiles are running low. Saudi Arabia is seeking air defense assistance from its allies. The Associated Press, citing local officials, reported that Saudi Arabia has contacted France, Britain, Pakistan, and Egypt, requesting air defense support. However, apart from Pakistan, its allies have offered more sympathy than military support. In fact, Saudi Arabias largest ally and arms supplier is the United States, but its interceptor missile stockpile has been depleted in the war with Iran. Last week, Saudi Crown Prince Mohammed bin Salman called Trump, requesting deeper US involvement in the conflict. The US rejected this request.On September 19th, CNN reported on September 18th that sources said the US military narrowly avoided an incident after using an AI-generated false intelligence report. The report stated that this spring, during the war with Iran, an intelligence report circulating among US military personnel raised concerns. The report claimed that a Chinese ship was transporting components for a nuclear weapons program in the Middle East. Four sources familiar with the incident said the US military quickly initiated a plan to intercept the ship. Two of the sources indicated that US military personnel were preparing to board. One source and another informed source stated that US military aircraft had been scrambled. However, just as the planned operation was about to begin, US officials thoroughly examined the report, compiled by analysts from the US Special Operations Command, and discovered that it was generated using AI. The chatbot used by the analyst had incorrectly identified the cargo.Musk: Usage of the X platform has reached an all-time high.According to AFP: A Saudi Aramco fuel storage tank caught fire near Riyadh airport.

The Bogged-down Crypto Market

Cory Russell

Oct 08, 2022 14:09

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The market remained inside the range that has been in place since the second half of September once again as a result of the 50-day moving average in BTCUSD acting as local resistance.


At the time of writing, Bitcoin was trading slightly under $20K, down 1.9% over the previous day.


Investors in the cryptocurrency market have been deterred from purchasing as a result of a rapid rise in stock markets that has slowed down in recent days due to uncertainty. The market's capitalization dropped 1.6% over night to $956.

News context

We've lately seen some stability in the bitcoin market, according to Sam Bankman-Fried, CEO of the cryptocurrency exchange FTX. But when the Fed's monetary policy becomes more restrictive, it has an impact on all assets, leading cryptocurrencies as well as fiat money and stock indices to change.


Hoarders have amassed a record 13.7 million coins, or 71.5% of the whole BTC supply, according to Ark Invest, purchasing the cryptocurrency that has been falling since the spring. Additionally, vendors have almost reached the limits of their ability to sell.


Due to a higher dollar last week, the connection between bitcoin and gold hit its highest point in more than a year, according to Kaiko. Despite a Fed rate rise, gold and bitcoin failed to exert their role as haven assets.


The huge centralized and regulated Binance and Coinbase will be the main targets of the EU's ban on Russian cryptocurrency wallets, which may increase demand in smaller exchanges with laxer KYC but generally increase the danger of more active cryptocurrency sales.