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On August 16th, according to a report by Axios, citing three sources familiar with the matter, in mid-May, US negotiators encountered a problem when attempting to reach an agreement with Iran to end the war: they were unsure whether the Iranian representatives across the negotiating table truly represented the countrys powerful Islamic Revolutionary Guard Corps (IRGC). The report stated that, therefore, Trump administration officials took an unusual approach—bypassing Iranian negotiators and contacting the IRGC leadership directly. The person chosen by the US to oversee this secret communication channel was Nechirvan Barzani, the president of the Iraqi Kurdistan Region. He possessed an extremely rare advantage: the trust of both the US and the IRGC leadership. This incident highlights that a key reason for the difficulties in US-Iran negotiations lies in Washingtons inability to ascertain who truly holds decision-making power in Iran. The US and Iran did ultimately reach a memorandum of understanding, but it quickly collapsed.August 16 (Yonhap) -- Several North Korean soldiers recently crossed the Military Demarcation Line in the eastern region, prompting South Korean forces to fire warning shots. This is reportedly the first time this year that South Korean forces have fired warning shots in response to a North Korean incursion.August 16 - Indonesian National Disaster Management Agency official Abdul Muhari stated on the afternoon of the 16th that the 7.7 magnitude earthquake in Indonesia has so far caused 53 deaths. Since the earthquake, 995 aftershocks have been recorded in the area.Hamas: The delegations meeting in Cairo aimed to ensure the occupiers commitment to the roadmap reached with the Peace Commission.Hamas: The delegation’s meeting in Cairo was part of ongoing communication with the mediators, aimed at informing them of Israel’s violations.

Crypto Prices Slump Over the Weekend

Skylar Shaw

May 09, 2022 09:59

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The Bitcoin market dropped over the weekend, matching the stock market's decline.


According to CoinDesk pricing, the world's biggest cryptocurrency, bitcoin, plummeted to $34,656 on Sunday afternoon, down 3.9 percent from Friday evening. Bitcoin fell below $34,000 earlier this afternoon, about half of its all-time high of $67,802 set in November.


Ethereum, the second-largest cryptocurrency, was trading at about $2,565 on Sunday afternoon, down 5.1 percent from Friday at 5 p.m. EDT.


Bitcoin and other cryptocurrencies are notorious for their wild price volatility. 


For years, individual investors dominated the market, but institutional investors, such as hedge funds and money managers, have begun to take control.


The market has become more aligned with regular markets as more professional investors trade crypto. Many institutional investors that acquire cryptocurrencies see them as high-risk investments, akin to equities in the technology sector. During periods of market turmoil, investors prefer to flee to safer areas.


Last week, the stock market fell the day after the Federal Reserve issued a half-point rate hike, the largest since 2000, to combat inflation. Additional rate hikes are possible this summer, according to Fed Chairman Jerome Powell. 


Some of the central bank's $9 trillion asset portfolio is also being unwound.


The Nasdaq Composite, which is heavily weighted in technology, fell to a 52-week low of 12144.66 on Friday. It is down 22% so far this year.


For most of 2022, cryptocurrency prices remained flat as investors braced for higher interest rates. According to CoinMarketCap, the crypto market was busy over the weekend, with $112 billion in market volume in a 24-hour period. The total value of the cryptocurrency market is currently $1.59 trillion.

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