Geopolitics and macro markets dominated this week's news. Russia cut off Europe's gas supply and hedge funds bet against Italian debt. The International Monetary Fund's bailout of Zambia helped the kwacha surpass the ruble to become the world's most-performing currency. Vitalik Buterin, co-founder of Ethereum, discusses the crash in crypto economies and Bitcoin's long term security.
Russia Cuts off Europe's Main Gas Pipeline until the West Lifts its Sanctions, Iran Offers Similar Deal to EU
Russia seems to have drawn a line in sand. It will not shut down Europe's main gas pipeline until "collective West" lifts financial sanctions. This follows the Nord Stream 1 pipeline shutting down for maintenance. However, Interfax reports five days later indicated that Moscow would not turn the gas back on unless the demands are met.
IMF Bailout Approval Helps Zambian Kwacha To Take the Russian Ruble's Place as the World's Best-Performing Currency
The International Money Fund announced that it had approved a bailout plan for Zambia. After this announcement, the kwacha rose by 3.1%. The kwacha became the best-performing currency worldwide in 2022, surpassing the Russian ruble.
Vitalik Buterin, Ethereum's Co-Founder, discusses Bitcoin's Long-Term Security
Vitalik Buterin interviewed Noah Smith, an economics author, on September 1. The co-founder and CEO of Ethereum talked a lot about Bitcoin security and long-term stability. Buterin also spoke out about the crash of the crypto economy and stated that he was surprised it didn't happen sooner.
Hedge Funds Place $39 Billion on Italian Debt to Counter Rome's Financial Volatility
Hedge funds are betting on Rome's liabilities. According to S&P Market Intelligence data, investors have placed a short $37 billion bet against Italian debt. Hedge funds are placing large bets against Italian bonds. Investors have not placed this much against Rome since 2008. This is because Italy faces political uncertainty, a energy crisis and an 8.4% inflation rate in July.
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Title: Russia Shuts Off EU Gas, Vitalik Discusses Bitcoin Security, and More — Bitcoin.com News Week in Review
Sourced From: news.bitcoin.com/russia-shuts-off-eu-gas-vitalik-discusses-bitcoin-security-and-more-bitcoin-com-news-week-in-review/
Published Date: Sun, 11 Sep 2022 11:30:38 +0000