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Japão e Coreia do Sul fazem 1ª cúpula em 3 anos de olho em testes de mísseis norte-coreanos | Mundo



O primeiro-ministro japonês, Fumio Kishida, e o presidente sul-coreano, Yoon Suk-yeol, realizaram neste domingo a primeira cúpula oficial entre os dois países em quase três anos, após a recente onda de testes de mísseis da Coreia do Norte.

Em uma reunião que durou cerca de 45 minutos, no final de três dias de cúpula internacional na capital cambojana, Kishida e Yoon reafirmaram que continuariam trabalhando em estreita colaboração para lidar com a ameaça das armas de Pyongyang.

Falando a repórteres após a reunião, Kishida disse que os dois líderes confirmaram que trabalharão juntos “para manter um Indo-Pacífico livre e aberto”, além de abordar a questão norte-coreana.

Os países vizinhos são aliados de longa data dos EUA, mas seus laços estão frequentemente envolvidos em várias disputas sobre questões históricas decorrentes do domínio colonial do Japão na Península Coreana até o final da Segunda Guerra Mundial.

Tóquio e Seul tiveram uma reunião formal pela última vez em dezembro de 2019, embora Kishida e Yoon tenham tido uma conversa “informal” na Assembleia Geral das Nações Unidas, em setembro.

As relações caíram para o ponto mais baixo em anos sob o antecessor de Yoon, Moon Jae-in, depois que a Suprema Corte da Coreia do Sul, em 2018, ordenou que duas grandes empresas japonesas pagassem indenizações por trabalho forçado em tempos de guerra.

As empresas se recusaram a cumprir, pois o Japão alega que todas as reivindicações decorrentes do domínio colonial foram resolvidas sob um acordo bilateral em 1965.

A eleição do conservador Yoon como presidente em maio, no entanto, parece ter começado a aliviar o atrito, com o ex-promotor prometendo desenvolver laços “orientados para o futuro” com Tóquio.

Após a cúpula bilateral de domingo, Kishida disse que sobre a questão trabalhista em tempo de guerra, os dois lados “concordaram mais uma vez em resolver as questões pendentes o mais rápido possível”.

Crescentes temores sobre os mísseis e o programa nuclear da Coreia do Norte parecem estar aproximando os vizinhos. Uma série de lançamentos de Pyongyang abalou os nervos no nordeste da Ásia nas últimas semanas, enquanto, de acordo com Yoon, o regime da Coreia do Norte completou os preparativos para um sétimo teste de armas nucleares.

Também no domingo, Kishida e Yoon realizaram uma reunião a três com o presidente dos EUA, Joe Biden, onde a Coreia do Norte foi um tema-chave.

Kishida disse à mídia que a cooperação bilateral e trilateral entre os países estava “se tornando cada vez mais importante”. Ele disse que o trio concordou em tomar “ação resoluta para a desnuclearização completa da Coreia do Norte”.


Russian atrocities in Kherson region same as other regions, Zelensky says



Issued on:

President Volodymyr Zelensky said Sunday that Ukrainian forces that retook the city of Kherson found evidence of new war crimes by Russian occupiers. Read FRANCE 24’s live blog for all the latest developments. All times are Paris time (GMT+1). 

5:53am: Ukraine war, tensions with China loom over G20

A showdown between Presidents Joe Biden and Vladimir Putin isn’t happening, but fallout from Russia’s invasion of Ukraine and growing tensions between China and the West will be at the fore when leaders of the world’s biggest economies gather in tropical Bali this week.

The Group of 20 members begin talks on the Indonesian resort island Tuesday under the hopeful theme of “recover together, recover stronger.” While Putin is staying away, Biden will meet with Chinese President Xi Jinping and get to know new British Prime Minister Rishi Sunak and Italy’s Giorgia Meloni.

The summit’s official priorities of health, sustainable energy and digital transformation are likely to be overshadowed by fears of a sputtering global economy and geopolitical tensions centered on the war in Ukraine.

The nearly 9-month-old conflict has disrupted trade in oil, natural gas and grain, and shifted much of the summit’s focus to food and energy security.

5:03am: New Zealand to train more Ukrainian troops, extends intelligence support

New Zealand said on Monday it would send a further 66 defence force personnel to the United Kingdom to help train Ukrainian soldiers as the Russian invasion grinds on for a ninth month.

New Zealand currently has a team of 120 New Zealand Defence Force (NZDF) personnel training Ukrainians in the United Kingdom but this deployment was due to end. The new deployment will run from November 30 through until July 2023, a government statement said.

“I am pleased the NZDF infantry can offer the skills and experience for further training. This deployment also provides an opportunity for NZDF personnel to gain valuable experience,” said defence minister Peeni Henare.

4:17am: Russian atrocities in Kherson region same as other regions, Zelensky says

President Volodymyr Zelensky said Sunday that Ukrainian forces that retook the city of Kherson found evidence of new war crimes by Russian occupiers.

“The Russian army left behind the same atrocities as in other regions of our country,” he said in a nightly address.

“Investigators have already documented more than 400 war crimes,” the Ukrainian leader said, without clearly specifying the area in which they were found.

“The bodies of the killed are being found, both civilians and military,” he said. “We will find and bring to justice every murderer.”

Ukrainians in the liberated city have expressed a deep sense of relief over the end of months of occupation after Russian forces pulled out on Friday.

But, like Zelensky, they said the Russians had left a trail of destruction, laying mines and going on a looting spree – even stealing animals from a zoo – before their withdrawal.

(FRANCE 24 with AFP, AP and REUTERS)


© France Médias Monde graphic studio


Binance chief says no one can be protected from ‘bad players’



The chief of the world’s largest crypto exchange Binance has said no one can be protected from a “bad player” and called for more regulation of the sector.

Speaking at a meeting of business leaders in Bali on Monday after the collapse of Sam Bankman-Fried’s FTX last week, Changpeng Zhao did not name his former arch-rival but said the crypto industry “collectively has a role to protect consumers”.

“To be very frank, if a guy is very good at lying and is very good at . . . just pretending to be what he’s not, [if] somebody wants to violate the law, the law is not going to prevent that,” said Zhao, who is known as “CZ” in the industry.

FTX suffered an $8bn liquidity crunch after being inundated with withdrawal requests from customers. The $24bn personal fortune of Bankman-Fried, the 30-year-old boss of the exchange, has been wiped out and the exchange filed for bankruptcy on Friday, prompting contagion in the crypto sector.

“We do need to increase the clarity of regulations and the sophistication of regulations in the crypto space,” Zhao said, wearing a zebra-patterned shirt and neon yellow trainers.

He called on the industry to improve transparency and said that Binance would be “leading the way” to show proof of reserves. Other smaller rivals, including, OKX and Deribit, have also promised to publish proof that they hold sufficient reserves to match their liabilities to customers.

On Sunday, Zhao tweeted that people holding crypto assets should use TrustWallet, Binance’s official crypto wallet, where people can send, receive and store cryptocurrencies.

“Self custody [keeping crypto in your personal digital wallet] is a fundamental human right. You are free to do it at any time. Just make sure you do it right,” he tweeted.

Investors have been pulling out of crypto since FTX’s collapse. Bitcoin, the most popular cryptocurrency, has fallen 22.8 per cent in the past week to about $16,000.

Bankman-Fried tweeted on Friday that he had filed for bankruptcy with FTX.

“I’m really sorry, again, that we ended up here. Hopefully things can find a way to recover,” he said.


Election-Denying Doug Mastriano Finally Concedes, 5 Days After Race Called



Pennsylvania state Sen. Doug Mastriano (R) conceded to his Democratic opponent for the state’s gubernatorial race Sunday, five days after he was projected to lose by multiple news outlets.

“Difficult to accept as the results are, there is no right course but to concede, which I do, and I look to the challenges ahead,” Mastriano said in a statement Sunday. “Josh Shapiro will be our next Governor, and I ask everyone to give him the opportunity to lead and pray that he leads well.”

The concession is notable for Mastriano, who was endorsed by former President Donald Trump and has long spread unfounded claims of election fraud while questioning the legitimacy of the 2020 election that elevated Joe Biden to the White House.

In November 2020, Mastriano tried to push through a resolution in the state’s GOP-controlled legislature that would have overturned Biden’s win. The plot would have appointed alternate electors who would have then declared Trump the winner. Mastriano also chartered buses for Trump supporters ahead of the Jan. 6, 2021 “stop the steal” rally that preceded the violent insurrection at the U.S. Capitol.

Governor-elect Josh Shapiro spent his campaign painting his Republican opponents as an extremist. He said earlier Sunday he hadn’t yet heard from Mastriano but remarked that he didn’t really mind.

“I mean, who cares if he calls, right?” the governor-elect told CNN. “He doesn’t get to pick the winner, the people pick the winner.”

In his statement Sunday, Mastriano called for reforms to Pennsylvania’s electoral system, saying residents deserved to “have faith in our elections.” Election officials worked to bolster the voting system ahead of the midterms amid unfounded GOP attacks and lies about fraud. They’ve since said their efforts, including more transparency and better communication, have worked.

“In my role as a State Senator, I will do my very best to help Josh Shapiro deliver that to Pennsylvanians and, if he does, I will be the first to acknowledge and applaud his achievement,” Mastriano said Sunday, adding that he wanted election results to be “more quickly decided.”


Fighting-age men in Russia are still hiding in fear of being sent to war



A 34-year-old human resources manager of an IT company has been in hiding to avoid military conscription in Russia. (The Washington Post)
A 34-year-old human resources manager of an IT company has been in hiding to avoid military conscription in Russia. (The Washington Post)


Although Russian President Vladimir Putin and his defense minister, Sergei Shoigu, proclaimed the completion of their mobilization of 300,000 new soldiers, many fighting-age Russian men remain in hiding — still fearful of being seized by military recruiters and sent to fight, and die, in a failing war.

While records of border crossings to neighboring countries documented more than 300,000 who left Russia in the weeks after the start of mobilization, there is no data on the number of men who hid inside the country, but the number is also believed to be in the thousands.

Among them is a young IT worker in southern Russia, now living in a tent in the forest.

Like others eligible for military service, the IT worker quickly began planning to run after Putin issued his mobilization decree on Sept. 21 — frantically checking outbound flights, which spiked in price every time he hit the refresh button.

Then, he had an epiphany: If he couldn’t afford to flee Russia or leave his family and friends behind, he could at least escape civilization and the state’s military conscription system. So, he took a week off from work and drove to hide in the woods.

“I feared that I’d get drafted if I go to the store or that someone will come to my house,” the IT worker, who shares his experiences on a Telegram blog under the pseudonym Adam Kalinin, said in a phone interview. He requested anonymity because he is hiding from the authorities.

The Washington Post interviewed five other men who have spent recent weeks hiding in rented apartments, country houses, and even a music studio. Some were interviewed by phone, others agreed to be visited by a photographer in their places of hiding. Although they come from different backgrounds, professions, and family circumstances, they expressed an identical goal: to avoid killing, or being killed, in Ukraine.

In the interviews, most said that they still don’t feel safe from Putin’s war machine, and they each requested anonymity to avoid being identified by the authorities.

“I’m not rushing to go back to normal lifestyle,” said a 38-year-old lab technician who was ambushed by a group of police and enlistment officers who handed him a summons at his home in late September.

He did not sign it and decided not to show up at the assembly point the next day, as demanded. Instead, he hid at a cottage house outside Moscow, while notices piled up on his apartment door.

Eventually, he had to return to the city for work but swapped his car for a bike to avoid traffic police and wore a mask, wary of Moscow’s vast CCTV network with built-in facial recognition system.

“I didn’t have a place to flee to, nor a way to work remotely,” he said when asked whether he considered going abroad. Having served in the Russian military before, the lab technician said he wants to avoid experiencing that again, but said he doesn’t feel “unambiguous support for either side” in the war.

The IT worker and his wife were always avid campers, so he had most of what he needed to evade the enlistment officers: a sleeping bag, a saw, a gas burner. He also bought solar panels, a tent for winter fishing and a satellite dish to keep working online.

Shoigu’s public statements that the mobilization was finished brought little peace of mind to the IT worker or other Russian men in hiding. No legal decree has been issued formally ending the conscription drive.

So the IT worker, who calls himself pacifist, is now living his second month as an antiwar recluse.

For the IT worker, his daily commute is now walking three minutes from his “home” to his “office” — a separate tent set higher in a clearing, the only location nearby with a relatively stable internet connection.

He cooks on an open fire and said he misses hot showers and fresh fruit but that his living conditions were still far better than those of mobilized men sent to Ukraine. Hundreds of Russia’s new conscripts, many poorly equipped and given little training, have already been killed, according to Russian media — reinforcing the IT worker’s decision to stay in hiding.

“The very first news that came out of mobilization is how people are missing basic gear, or the conditions they are in,” he said, referring to reports of senior officers forcing new soldiers to buy their own bulletproof vests or sleep in dilapidated, unheated barracks.

“They are suffering even before they get to the front line and can easily get, say, pneumonia, and no one will care, which put it into perspective for me,” he said. “I’m either mobilized and put into something akin to a prison, where you have no rights, just obligations, or I stay here, where I still have many problems and issues, but I am free.”

With Russia’s casualties continuing to climb and troops inevitably requiring rotation, there is little doubt additional reinforcements will be needed.

“For how long the hundreds of thousands of mobilized servicemen have been sent to the Armed Forces is unknown,” Pavel Chikov, a lawyer with Agora, a human rights group, wrote on Telegram. “Sooner or later … either because of death, injury and other reasons their places will need to be filled with recruits.”

A 24-year-old financial consultant from Moscow was a key target for enlistment officers because of his prior service as a special operations soldier, and they tried hard to track him down, he told The Post.

First, the apartment door at his declared address — all Russians are required to register with the authorities — was plastered with draft notices. The financial consultant, who lives elsewhere, never picked them up.

Then, the local commissariat sent a notice to his office. Under Russian law, employers are obliged to hand them to staff, or risk hefty fines. Instead, his company fired him on paper but allowed him to work remotely in an unofficial capacity.

Days before the mobilization was supposed to end, military recruiters went to the apartment with a police escort and questioned the tenants living there about the ex-soldier’s whereabouts.

From the start of mobilization, the financial consultant, who graduated from a naval academy, said he knew he would be summoned. “I wore the uniform for six years,” he said. “So I already prepared myself for this.”

When Putin issued the degree, his family wanted him to flee to Kazakhstan but he refused to leave, fearing he would get stopped at the border or worse — labeled a deserter. His former military colleagues were also bombarded with notices.

But the consultant said he was not willing to fight and die in a pointless conflict.

“I think this is absolutely not my war, and there is nothing for me to do there,” he said. “Knowing the mechanics of the military, it’s gruesome to realize how many civilians are dying.” He added, “On a political level, I don’t even get involved there and I don’t even want to know what they are fighting for there. But on a personal, moral level I don’t want this to be happening.”

He went into hiding at a dacha, or country house, then rotated through several friends’ apartments in the Moscow region. “I avoided all public transport,” he said. “I refused to go to the office under any circumstances, and you wouldn’t see me in public places.” After Putin declared the mobilization complete, the consultant returned to his rental apartment but still keeps a low profile.

A 40-year-old music producer in Moscow, who underwent military training in university, also had enlistment officers repeatedly bang on the door of an apartment he owns but rents out.

“I am against the war, I’ve never hit anyone in my life,” the producer said, sitting in a dimly-lit room of his music studio adorned with Soviet paraphernalia. “When issues are being solved through violence, this is the most primitive way, a return to the animal state.”

The producer moved away from his wife and children and spent nights on a couch in the studio, rattled after hearing that his friend, also in hiding, got handed a notice by police who stopped his car.

Most of the producer’s friends left Russia, and his wife pleaded with him to follow suit, even threatening to divorce him. But he refused, saying he would not let Putin “steamroll” the life he built in Moscow.

“I’ve never held onto Russia, I always considered myself a man of the world,” the producer said. “But when the war began, that somehow reversed my thought process. … I’ve decided that I am not running away. I am a full-fledged resident of this country and because someone went off the rails, this does not mean I should give up my house, my convictions and my work.”

He continues to live “outside the system” — avoiding the subway, crossing the street if he sees anyone in a uniform and mostly keeping his phone off to avoid being tracked. “I think you have to pick a strategy of maximum security if you have decided to stay here,” he said. “The situation can turn for the worse. The rumor is there will be a second enlistment wave, then maybe a third.”


Don’t get carried away By Reuters



A look at the day ahead in European and global markets from Anshuman Daga

Markets have got all excited after last week’s rip-roaring rally in global equities, a big tumble in U.S. Treasury yields and a bruising sell-off in the mighty dollar.

But don’t pop the champagne just yet.

Federal Reserve Gov. Christopher Waller said on Sunday that the Fed may consider slowing the pace of rate increases at its next meeting but that should not be seen as a “softening” of its battle against inflation.

While U.S. consumer prices rose less than expected in October, pushing the annual increase below 8% for the first time in eight months, Waller said the markets shouldn’t get carried away over just one “data point.”

The comments tempered gains in Asian equity markets on Monday, though Hong Kong and Chinese stocks outperformed as China fine-tuned COVID-19 control measures and regulators ordered more financing support for the beleaguered real estate sector.

And days before the announcement of a budget plan, British Finance Minister Jeremy Hunt said he will set out tax rises and spending cuts to show Britain can fix its public finances and restore its economic credibility.

At least the sporting world brought good news for England after Captain Ben Stokes held his nerve with an unbeaten half-century on Sunday, helping England claim their second Twenty20 World Cup title with a five-wicket win over Pakistan.

This week, U.S. retail sales will dominate the data calendar, while markets will also pay attention to euro zone flash Q3 GDP estimates.

As the G20 summit kicks off in the Indonesian island of Bali on Tuesday, U.S. President Joe Biden is set to meet Chinese leader Xi Jinping in person for the first time since taking office, with U.S. concerns over Taiwan, Russia’s war in Ukraine and North Korea’s nuclear ambitions on top of his agenda.

In the crypto world, after Friday’s shocking collapse of cryptocurrency exchange FTX, Bahamas authorities said they were scrutinising the demise of the exchange, co-founded by 30-year-old Sam Bankman-Fried.

And finally, on the European corporate front, German military equipment manufacturer Rheinmetall agreed to acquire Spanish explosives and ammunition maker Expal Systems for an enterprise value of 1.2 billion euros.

Key developments that could influence markets on Monday:

Economic data: Euro zone Sep inflation final

Biden-Xi meeting

G20 leaders summit to Nov. 16th

Biden-Xi meeting

Fed’s Brainard speaks


Texas DPS apprehends 19 illegal immigrants from human smuggling attempts, stash house



The Texas Department of Public Safety announced the apprehension of 19 illegal immigrants located in human smuggling attempts and a stash house near the Southern Border.

The DPS Criminal Investigations Division received assistance from the Texas Highway Patrol and U.S. Border Patrol to stop the immigrants in Webb County.

Three vehicles containing 15 illegal immigrants were pulled over shortly after 5 p.m. on Thursday.

Agents had noticed suspicious activity between two vehicles in a parking lot in Laredo.


The Texas Department of Public Safety announced the apprehension of 19 illegal immigrants located in human smuggling attempts and a stash house near the Southern Border.

The Texas Department of Public Safety announced the apprehension of 19 illegal immigrants located in human smuggling attempts and a stash house near the Southern Border.
(Texas DPS)

One of the vehicles, a Chevrolet SUV, was stopped and agents located four illegal immigrants in the rear cargo area.

The second vehicle, a Dodge SUV, was stopped near a hotel. Seven illegal immigrants were found inside the vehicle.

A third vehicle was then seen leaving a suspected stash house, leading to a pursuit from DPS troopers. The vehicle was eventually stopped, and four illegal immigrants were found inside.

The DPS Criminal Investigations Division received assistance from the Texas Highway Patrol and U.S. Border Patrol to stop the migrants in Webb County.

The DPS Criminal Investigations Division received assistance from the Texas Highway Patrol and U.S. Border Patrol to stop the migrants in Webb County.
(Texas DPS)

DPS CID agents who stayed in the stash house located four more illegal immigrants inside.

A total of 19 illegal immigrants from Mexico, El Salvador and Guatemala were apprehended in the four incidents. They have been referred to U.S. Border Patrol.


A total of 19 illegal immigrants were apprehended in the four incidents. The immigrants are from Mexico, El Salvador and Guatemala.

A total of 19 illegal immigrants were apprehended in the four incidents. The immigrants are from Mexico, El Salvador and Guatemala.
(Texas DPS)


The drivers of the Chevrolet and Dodge vehicles, Merced Aguilar and Kilmar Alexander Garcia Portillo, were arrested for human smuggling.


Japan may host Australian nuclear subs – envoy — RT World News



Tokyo wants to cooperate with the AUKUS alliance between Australia, the US and the UK

Australia’s acquisition of nuclear submarines is critically important for regional security, and Japan is ready to offer its expertise and facilities, the country’s ambassador to Canberra told the ‘Advancing AUKUS’ conference on Monday.

Shingo Yamagami called Australia Japan’s most important military ally, beside the United States.

While not directly calling China a threat, the envoy said Tokyo was “a frontline state facing challenging circumstances in the dangerous neighborhood of Southeast Asia,” explaining to the audience at the National Press Club in Canberra why “AUKUS matters to us a lot.”

Back in 2021, the US, Australia, and the UK announced the creation of the so-called AUKUS security pact, which envisages providing Canberra with conventionally armed and nuclear-powered submarines, thus significantly boosting its naval capabilities.

Last month, Australia signed a separate agreement with Japan to deepen their security cooperation, including joint military training and intelligence sharing. “This makes Australia Japan’s most important defense and security alliance… outside of the United States,” ambassador Yamagami said.

“In the future, Japan may also be playing host to Australian nuclear submarines,” the envoy said according to remarks he later shared on Twitter. “Japan for many years has played host to visits by US Navy nuclear submarines… So measures are already in place to receive them should they come.”

“Japan’s co-operation with AUKUS holds great potential… Such submarines will increase regional deterrence,” he added.

China has repeatedly criticized the AUKUS alliance, arguing that its projects pose grave risks to regional stability and nuclear security. This view has to some extent been echoed by Russia. In August, Defense Minister Sergey Shoigu warned that AUKUS could “detonate” the entire Asia-Pacific region, since the pact has the makings of becoming “a military-political alliance.” 

On Sunday, Russia’s Foreign Minister Sergey Lavrov brought up AUKUS as an example of Washington and its allies trying to militarize the Asia-Pacific region. Those actions are not just “obviously aimed at containing China” but also “resisting Russia’s interests in the Asia-Pacific,” the minister said.

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stock recommendations: Hot Stocks: Brokerage view on HDFC Bank, M&M, Zomato, Indian Hotels and Ashok Leyland post Q2 results



Global brokerage firm Macquarie maintained an outperform rating on . Jefferies retained an underperform rating on M&M and it maintained a buy call on . CLSA upgraded to a buy rating and Morgan Stanley initiated coverage on with an overweight rating post Q2 results.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Macquarie on HDFC Bank: Outperform | Target Rs 2005
Macquarie maintained an outperform rating on HDFC Bank with a target price of Rs 2005. MSCI changes remove a major overhang, the brokerage said.

The new changes remove the technical overhang on the HDFC Bank. At 2.3x FY24E Core P/BV, HDFC Bank is a top pick, said the note.

Jefferies on M&M: Underperform| Target Rs 1140
Jefferies maintained an underperform rating on M&M with a target price of Rs 1140. The automaker reported a good Q2.

The brokerage said that the auto segment is looking strong, but the risk of a tractor slowdown looms. The global investment bank raised FY23-25E EPS by 8- 9%.

The company reported a strong SUV order book, and at the same time, it is gradually raising capacity which is a positive sign, it added.

Jefferies on Zomato: Buy | Target Rs 100
Jefferies maintained a buy rating on Zomato with a target price of Rs 100. Break-even in sight in the food delivery business which is a key positive, it said.

Blinkit growth outlook is positive, and the integration has been smooth, it added. The global investment bank has incorporated Blinkit in forecasts.

CLSA on Ashok Leyland: Buy | Target Rs 177
CLSA upgraded Ashok Leyland to a buy with a target price of Rs 177. Ashok Leyland is gaining market share in CVs.

EBITDA misses estimates, but outlook remains very strong, said the note. CV demand remains strong and at the same time the company is gaining market share and in terms of leverage, the debt levels are also coming down, it added.

Morgan Stanley on Indian Hotels: Overweight| Target Rs 381
Morgan Stanley initiated coverage on Indian Hotels with an overweight rating and a target of Rs 381. IHCL is India’s premium hospitality play.

IHCL is pricing in industry normalization and cost rationalization. The next leg of growth in margins and return ratios which will be driven by the industry’s upcoming RevPAR upcycle, the brokerage said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)


After Bitcoin’s Worst Week in Five Months, Here’s What Crypto Analysts Are Saying



Bitcoin (BTC) fell 22% in the seven-day stretch through Sunday, and analysts are scrambling to assess the outlook – for digital-asset markets as well as possible policy ramifications amid an annus horribilis for the blockchain industry, freshly wounded by the FTX scandal.

As a new week starts, the market is still searching for a bottom: The CoinDesk Market Index (CMI) is down 0.8% over the past 24 hours.

Here’s a sampling of the commentary:

  • Sean Farrell, head of digital-asset strategy, FundStrat: “In the past six months, we have witnessed the unraveling of a web of leverage that entangled the crypto space. It started with LUNA/UST, seemingly resolved in the 3AC unwind, only to find that SBF now appears to have been insolvent as well…. We think it is appropriate to wait for lower lows as there is good reason to think that there will be other casualties, which could lead to forced selling or, at the very least, bad headline risk.”

  • Joe DiPasquale, CEO of BitBull Capital: “The last few days have seen the space shaken by the collapse of SBF’s empire, and expectedly, despite traditional markets showing some strength, BTC and crypto took a hit due to poor sentiment. Even though BTC has settled around $16,000 for now, the extent of the damage to other companies, funds, exchanges is as yet unknown, and may come to the fore in the weeks to come. As before, we believe BTC under $20,000 is an attractive long-term accumulation zone, but we also remain cautious until the current situation is satisfactorily resolved and sentiment appears to start moving toward relative normalcy. Notably, the last few days have seen a significant drop in exchange reserves for BTC and stablecoins, indicating a lack of trust and prevalence of fear in the market. We will be monitoring for signs of returning confidence among the masses as a positive indicator.”

  • David Duong, head of institutional research, Coinbase: “The relative crypto market stability of recent months was interrupted…. We have seen broader market instability despite some positive macro developments for risk assets as a whole…. It’s still emerging which counterparties may have lent or interacted with either FTX or Alameda and what those exact liabilities are…. BTC could not only retest 2022 lows but touch the $13K level…. We think there is support at $13.5K.”

  • Arcane Research newsletter: “This situation is a mess…. One of the largest crypto companies in the industry was playing with customers’ money. An embarrassment for the industry, but it also reminds us of what an unregulated Wild West this still is. The contagion from this will undoubtedly evolve over the next weeks.”

  • Galaxy Digital newsletter: “It’s likely that FTX depositors who still have funds stuck on the exchange will be considered unsecured creditors and face a lengthy legal process. While several firms have proactively and publicly offered some transparency on exposure to FTX, the totality of industry exposure remains unknown at this time… An enormous amount of money is at stake (perhaps lost), but the impact of FTX’s collapse is even further magnified by the exchange’s wide-ranging marketing efforts and Sam Bankman-Fried’s prominence… The size of his advocacy and extremeness of his collapse cannot be understated and will have long-lasting ripple effects in Washington for crypto policy.”

  • GSR weekly crypto recap: “It’s sad that 2022 in crypto hasn’t been about the potential of crypto but rather about leverage, greed, fraud and lack of transparency – the very things the people involved accused TradFi of and vowed to change.”

  • Pantera Capital’s Blockchain Letter: “In the short term, there will be pain for those who lost funds held on FTX’s exchange. More broadly, we expect further price volatility across the crypto ecosystem as fears of contagion drive asset holders to adjust their portfolios. Assets linked to FTX (Solana and projects built on it, Aptos, etc.) will likely be hit hardest…. The episode will also probably be a setback to adoption, as some retail users who lost funds choose to leave the space, and others who may have joined sooner are scared into staying on the sidelines. We expect institutions previously wary of the space to deepen their skepticism.”