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August 25 – According to the Associated Press, the Trump administration is preparing to revoke the business and tourist visas of up to 200,000 foreigners who have applied for or are seeking asylum in the United States. If implemented, this would be the largest single visa revocation in U.S. history and is likely to face legal challenges. According to documents from the U.S. State Department obtained by the Associated Press and two U.S. officials, the State Department is expected to announce in the coming weeks the revocation of so-called B1 and B2 visas issued between 2016 and 2026 that the holders of which have applied for or are seeking asylum. This move will be coordinated with the Department of Homeland Security. A State Department spokesperson stated, “We are working with the Department of Homeland Security to identify and revoke nonimmigrant visas of foreigners who claimed to be short-term visitors but subsequently applied for asylum to remain permanently in the United States.” He declined to comment on the number of visas that might be revoked, saying, “Because this process will continue, the number of visas revoked will change and will be processed on a rolling basis.” U.S. officials stated that visa revocation does not necessarily mean immediate deportation; most of those currently awaiting asylum applications will be reclassified but will lose their business or tourist status.According to the Associated Press, the United States is preparing to revoke up to 200,000 business and tourist visas.On August 25, the Israel Defense Forces and the General Directorate of National Security (Shin Bet) issued a joint statement on the 24th, stating that the Israeli military struck two weapons depots belonging to the Palestinian Islamic Resistance Movement (Hamas) in the Gaza Strip that day.Modular power company Aggreko has filed for an IPO, seeking to list on the New York Stock Exchange under the ticker symbol "AGKO".On August 25th, Mokhber, an advisor to Irans Supreme Leader, stated on social media on the evening of the 24th that Irans response to US threats will be more resolute than ever before. Mokhber wrote on his social media account that the USs hostile strategies over the past 47 years, including sanctions, war, and attempts to divide Iran, have failed to achieve their intended results. Now, the US faces the challenge of internal unity within Iran and its deterrent capabilities in the Strait of Hormuz. He said, "This strategic failure is a clear warning to the US to continue making misjudgments," and Irans response will be more resolute than ever before.

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.