Genesis Creditor Loans Near $2B, Crypto Daily TV 6/12/2022

In Todays Headline TV CryptoDaily News:

Crypto Lender Nexo To Quit United States

UK-based crypto lender Nexo said on Monday it would phase out its U.S. products and services over the coming months due to clashes with regulators.

Genesis Creditor groups’ loans amount to $1.8B.

Customers whose money is locked up on trading and lending platform Genesis and who have taken legal advice on the matter currently account for some $1.8 billion of loans, according to a person familiar with the situation. And that number looks like it will continue to grow.

Another round of job cuts for Bybit.

Crypto exchange Bybit will implement another round of job cuts as it tries to refocus its operations amid a “deepening bear market,” CEO Ben Zhou announced, A screenshot of a message in which Zhou said the layoffs would affect 30% of staff, taken from the company’s internal messaging platform, was floating around Telegram group chats on the same day.

BTC dropped 0.9% against USD in the last session.

The Bitcoin-Dollar pair fell 0.9% in the last session. The Stochastic indicator is giving a negative signal. Support is at 167581 and resistance at 173841.

The Stochastic indicator is currently in the negative zone.

ETH/USD plummeted 1.6% in the last session.

The Ethereum-Dollar pair dove 1.6% in the last session. The Ultimate Oscillator is giving a positive signal. Support is at 1223.931 and resistance at 1312.091.

The Ultimate Oscillator is currently in the positive zone.

XRP/USD made a minor downward correction of 0.1%.

The Ripple-Dollar pair corrected downwards in the last session, falling 0.1%. The Williams indicator’s negative signal aligns with the overall technical analysis.

The Williams indicator gives a negative signal.

LTC/USD exploded 3.8% in the last session.

The Litecoin-Dollar pair gained 3.8% in the last session after rising as much as 8.9% during the session. The ROC’s positive signal is in line with the overall technical analysis. Support is at 75.1433 and resistance at 78.4433.

The ROC is currently in positive territory.

Daily Economic Calendar:

US API Weekly Crude Oil Stock

The API’s Weekly Statistical Bulletin reports overall U.S. and regional data relating to refinery operations and the production of the four major petroleum products. The US API Weekly Crude Oil Stock will be released at 21:30 GMT, Australia’s RBA Interest Rate Decision at 03:30 GMT, and the Eurozone’s EcoFin Meeting at 07:00 GMT.

AU RBA Interest Rate Decision

The RBA Interest Rate Decision is announced by the Reserve Bank of Australia. The interest rates are a key mechanism through which the central bank influences inflation.

EMU EcoFin Meeting

The Economic and Financial Affairs Council, the main decision-making body of the Council of the European Union, is composed of the Finance Ministers of the 27 European Union member states.

UK BRC Like-For-Like Retail Sales

The British Retail Consortium Like-For-Like Retail Sales measures changes in the actual value of retail sales from participating companies with invaluable management information on a regular and reliable basis. The UK’s BRC Like-For-Like Retail Sales will be released at 00:01 GMT, Australia’s RBA Rate Statement at 03:30 GMT, and Japan’s JP Foreign Reserves at 23:50 GMT.

AU RBA Rate Statement

Decisions regarding the interest rates are made by the Reserve Bank Board and are explained in a media release that announces the decision after each meeting.

JP Foreign Reserves

The Foreign Reserves are the total of a country’s gold holdings and convertible foreign currencies held by its central bank.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.