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According to CBS, U.S. Department of Defense officials revealed on Monday that one of the two missing U.S. soldiers in Morocco jumped into the water in an attempt to rescue the other missing soldier. As of Monday, the search and rescue operation was still ongoing.British government: The British Prime Minister stated that the UK will continue to support the defense operations of its partners in the Gulf region.Amazon (AMZN.O) CEO: We have a deep partnership with Nvidia (NVDA.O).US President Trump: The war with Iran could last another two to three weeks.① Iran 1. Iranian media: Iran has no plans to attack the UAE. 2. Iranian military official: The fire at the UAE oil facilities was caused by a US military adventure. 3. Senior Iranian official denied US claims of sinking several small boats. 4. Iran warned the UAE not to be a pawn of Israel. 5. Iranian media: The warning issued by the Iranian Army Commander to the US aircraft carrier came from a fake account. ② United States 1. Bessant: If the Iranians want to escalate the situation, the US is willing to escalate it as well. 2. Trump claimed the US sank 7 small Iranian boats, while US Central Command Commander Cooper claimed 6. 3. US Central Command Commander: More ships are preparing to pass through the Strait of Hormuz. 4. Trump: If Iran attacks US warships, it will be "wiped off the face of the earth." 5. US intelligence agencies: Recent fighting has not significantly impacted Irans nuclear program. 6. US media: Trump did not explicitly state that Iran has violated the ceasefire agreement. ③ Israel 1. Israeli officials said Israel is ready to return to fighting and is waiting for the US to "give the green light." 2. Israeli media reported that Israel raised its alert level on the 4th. ④ Strait of Hormuz 1. Iran denies any merchant ships or oil tankers have passed through the strait. 2. US Central Command: Two merchant ships flying the US flag have passed through the Strait of Hormuz. 3. A spokesperson for the Iranian Revolutionary Guard stated that ships violating the regulations in the Strait of Hormuz "will be forcibly intercepted." 4. British maritime authorities reported that three ships were attacked near the Strait of Hormuz on Monday. 5. Trump called on South Korea to join the Strait of Hormuz operation. 6. Maersk: Ships flying the US flag passed through the Strait of Hormuz under US escort. 7. French President Macron: France will not participate in the new US "Hormuz Plan." 8. Commander of US Central Command: Iran used missiles to strike merchant ships and US warships. The current focus is on getting ships out of the Strait of Hormuz, and then gradually considering allowing ships to enter the Strait of Hormuz. 9. According to Irans Mizan News Agency: A senior Iranian security source said that Irans message is clear: if the Americans attempt to advance in the Strait of Hormuz, they will become targets. ⑥ Other Situations: 1. The UAE Ministry of Defense stated that it intercepted more than ten Iranian missiles and several drones on the 4th. 2. The UAE suffered its first attack since the temporary ceasefire between the US and Iran, with three people injured in the Fujairah oil industrial area. 3. The Lebanese President stated that the timing for a meeting with the Israeli Prime Minister is not yet ripe. 4. Israel claims to have attacked Hezbollah infrastructure in Lebanon, while Hezbollah claims to have attacked Israeli military gathering points. 5. The hacker group "Handala" claimed responsibility for a cyberattack on the port of Fujairah in the UAE. 6. According to Israeli media Kann, the Chairman of the UAE Defense Council told his Israeli counterpart that the UAE would retaliate against Iran. 7. The U.S. State Departments Bureau of Consular Affairs: Our travel advisory for the UAE remains at Level 3.

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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