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February 9th - Goldman Sachs trading arm stated that after a rebound in U.S. stocks last Friday, almost recovering the weeks brutal losses, this week will face further selling pressure from trend-following algorithmic funds. The S&P 500 has broken through a short-term trigger point, prompting commodity trading advisors (CTAs) to sell stocks. Goldman Sachs expects these systematic strategies, which track stock market movements rather than fundamental factors, to remain net sellers in the coming week, regardless of market direction. Goldman Sachs stated that if the stock market falls again, it could trigger approximately $33 billion in selling this week. If market pressure persists and the S&P 500 falls below 6707 points, there could be as much as $80 billion in systemic selling over the next month. In a stable market environment, CTAs are expected to sell approximately $15.4 billion in U.S. stocks this week, and even if the stock market rises, these funds are still expected to sell approximately $8.7 billion.February 9th - Goldman Sachs trading arm stated that after a rebound in U.S. stocks last Friday, almost recovering the weeks brutal losses, this week will face further selling pressure from trend-following algorithmic funds. The S&P 500 has broken through a short-term trigger point, prompting commodity trading advisors (CTAs) to sell stocks. Goldman Sachs expects these systematic strategies, which track stock market movements rather than fundamental factors, to remain net sellers in the coming week, regardless of market direction. Goldman Sachs stated that if the stock market falls again, it could trigger approximately $33 billion in selling this week. If market pressure persists and the S&P 500 falls below 6707 points, there could be as much as $80 billion in systemic selling over the next month. In a stable market environment, CTAs are expected to sell approximately $15.4 billion in U.S. stocks this week, and even if the stock market rises, these funds are still expected to sell approximately $8.7 billion.US President Trump: The US election is full of fraud and theft, and has become a laughing stock around the world.Market news: Multiple explosions were heard in Kyiv, the capital of Ukraine.Domestic News: 1. Guotou Silver LOF: Trading suspended from opening on February 9th until 10:30 AM. 2. Several banks raise deposit interest rates as the Spring Festival approaches. 3. Macaus daily inbound and outbound passenger flow breaks record again with 867,000 visits. 4. Jiangsu Provincial Government holds symposium for real estate professionals. 5. Qianwen and Yuanbao red envelope codes can now be copied on WeChat. 6. Hong Kong Financial Secretary Paul Chan: Hong Kongs achievements in cultivating new productive forces are gradually becoming apparent. 7. Hong Kong SAR Government summons Panamas Consul General again, criticizing the ruling for causing profound damage to Panamas economic development. International News: 1. Middle East Situation: ① Hamas senior official: As long as Israel continues its occupation, the Palestinians will not stop resisting. ② Israeli Prime Minister Netanyahu will meet with Trump next Wednesday to discuss the Iranian issue. ③ Iranian Foreign Minister: Iran will never accept "zero enriched uranium". ④ Iranian Armed Forces Chief of Staff: No interest in launching a regional war. ⑤ Pentagons "pizza index" surges. 2. Japanese Election: ① Exit polls: Japans ruling coalition is expected to win a majority of seats in the House of Representatives. ② NHK: The ruling coalition led by Prime Minister Sanae Takaichi is poised to win at least two-thirds of the seats in the House of Representatives. ③ Prime Minister Sanae Takaichi: Will accelerate consideration of reducing the consumption tax. A weak yen has both advantages and disadvantages. 3. Russia-Ukraine Situation: ① Russian media: The US-India joint statement did not mention abandoning the purchase of Russian oil. ② Ukrainian President Zelensky: Russian energy infrastructure is a legitimate target of Ukraines attacks. ③ Ukrainian Foreign Minister denies any connection between Ukraine and the attack on the Russian general. 4. Denmark: Negotiations with the US on Greenland have not met expectations. 5. Data analysis from Vanda Research shows that retail investors poured $430 million into the largest silver ETF, SLV, in the six trading days ending Thursday. 6. US Treasury Secretary Bessenter: Does not expect the Federal Reserve to act quickly on the balance sheet issue. Believes Warsh will be very independent. 7. The Bhumjaithai Party announced that it has become the largest party in the Thai House of Representatives.

New FTX chief says bankrupt crypto exchange could restart

Skylar Shaw

Jan 20, 2023 11:43

According to Chief Executive Officer John Ray, the bankrupt cryptocurrency exchange FTX is considering ways to resurrect its operations. He made the announcement to the Wall Street Journal on Thursday.


According to Ray, who took over the company's leadership in November, a task group has been established to look at reviving FTX.com, the organization's primary international exchange.


The CEO also said in an interview with the Journal that he would research if resurrecting FTX's international exchange would generate more value for the company's clients than his team could get by simply selling the platform or liquidating its assets.


Following the news, FTT, the native token of FTX, increased by around 30%.


I'm relieved Mr. Ray is now only pledging to restart the exchange after months of blocking such attempts! Sam Bankman-Fried, the founder and former CEO of FTX, said in a tweet.


Bankman-Fried said, "I'm still waiting for him to eventually acknowledge FTX US is solvent and return clients' money.


An inquiry for comment from Reuters was not immediately answered by an attorney representing FTX.


Bankman-Fried is accused of robbing the exchange's users of billions of dollars to settle debts accrued by his cryptocurrency-focused hedge fund, Alameda Research. He's denied the allegations of fraud.


Customer money' future, however, is still unknown. In a note to creditors earlier this week, FTX said that since declaring bankruptcy in November, hackers had stolen nearly $415 million in cryptocurrency from its worldwide and American exchanges.