2024-08-04 19:48

Aug 5 (Reuters) - U.S.-listed shares of crypto-linked companies slumped as bitcoin fell more than 15% on Monday, after weak economic data last week triggered fears of a recession and set off a frenzied selling of risky assets. The plunge marks a stunning reversal for the sector that until recently was riding a wave of optimism sparked by the approval of exchange-traded funds (ETFs) tied to the spot prices of bitcoin and ether , the two biggest cryptocurrencies. Republican presidential candidate Donald Trump's pro-crypto speech at a bitcoin conference last month also bolstered sentiment, but data showing higher unemployment and weak manufacturing activity squeezed risky assets. "We are not surprised by Bitcoin's snap reaction as the only weekend traded market. We don't see any incremental negatives for crypto here," Bernstein analyst Gautam Chhugani wrote in a note. "The bitcoin and crypto market will likely trade off macro and election cues for most of (the third quarter)." Crypto miners CleanSpark (CLSK.O) , opens new tab, Bitfarms , Riot Platforms (RIOT.O) , opens new tab and Marathon Digital (MARA.O) , opens new tab slumped between 12% and 25% in early trade. Coinbase (COIN.O) , opens new tab shares lost 18%, while bitcoin buyer MicroStrategy (MSTR.O) , opens new tab slipped nearly 23%. Bitcoin tumbled to its lowest in nearly six months while ether plunged 19%, trading at levels not seen since January. BITCOIN OVER ETFs The increasing correlation with equities has undermined bitcoin's reputation as a safe-haven asset, but some analysts said investing directly was still better than getting exposure to the currency via proxies like ETFs and crypto-related stocks. "If this weekend serves as a reminder of anything, it is the importance of investing in digital assets directly on native crypto exchanges," said Joshua Peck, founder of crypto hedge fund TrueCode Capital. "While others were stuck waiting for the futures market to open on Sunday night... we were calmly executing our strategy without interruption," he added. Still, others advocated caution. "It's a big reminder that bitcoin and crypto in general are risk assets and sit at the pointy end of the risk spectrum," said Tony Sycamore, market analyst at IG. Sign up here. https://www.reuters.com/technology/bitcoin-falls-569-58987-2024-08-04/

2024-08-04 19:08

Zelenskiy announces use of U.S.-made fighter planes Ukraine waited long for the higher-capability jets Kyiv hopes they will change war, Russia vows to down them Aug 4 (Reuters) - Ukrainian pilots have started flying F-16s for operations within the nation, President Volodymyr Zelenskiy said on Sunday, confirming the long-awaited arrival of the U.S.-made fighter jets more than 29 months afterRussia's invasion. The Ukrainian leader announced the use of F-16s, which Kyiv has long lobbied for, as he met military pilots at an air base flanked by two of the jets, with two more flying overhead. "F-16s are in Ukraine. We did it. I am proud of our guys who are mastering these jets and have already started using them for our country," Zelenskiy said at a location that authorities asked Reuters not to disclose for security reasons. Ukraine's top commander, Oleksandr Syrskyi welcomed the arrival of the jets and thanked the president and other officials for working "24/7" to secure them. Their arrival, he said, would save the lives of Ukrainian soldiers. "This means that more of the occupiers will be destroyed," Syrskyi wrote on Facebook. "It means a greater number of downed missiles and aircraft used by the Russian criminals to attack Ukrainian cities." The arrival of the jets is a milestone for Ukraine, though it remains unclear how many are available and how much of an impact they will have in enhancing air defences and on the battlefield. Russia has been targeting bases that may house them and vowed to shoot them down. Built by Lockheed Martin (LMT.N) , opens new tab, the F-16s had been on Ukraine's wish list for a long time because of their destructive power and global availability. They are equipped with a 20mm cannon and can carry bombs, rockets and missiles. 'NEW STAGE' Talking to reporters on the tarmac of an airfield, Zelenskiy said Ukraine still did not have enough pilots trained to use the F-16s or enough of the jets themselves. "The positive thing is that we are expecting additional F-16s ... many guys are now training," he said. It was important, he said, that Kyiv's allies found ways to expand training programmes and opportunities for both Ukrainian pilots and engineering teams. Ukraine has previously relied on an ageing fleet of Soviet-era warplanes that are outgunned by Russia's more advanced and far more numerous fleet. Russia has used that edge to conduct regular long-range missile strikes on targets across Ukraine and also to pound Ukrainian frontline positions with thousands of guided bombs, supporting its forces that are slowly advancing in the east. "This is the new stage of development of the air force of Ukraine's armed forces," Zelenskiy said. "We did a lot for Ukrainian forces to transition to a new aviation standard, the Western combat aviation," he added, citing hundreds of meetings and unrelenting diplomacy to obtain the F-16s. "We often heard 'it is impossible' as an answer, but we still made our ambition, our defensive need, possible," he said. It remains unclear what missiles the jets are equipped with. A longer range of missile would allow them to have a greater battlefield impact, military analysts say. Zelenskiy said he also hoped to lobby allied neighbouring countries to help intercept Russian missiles being launched at Ukraine through conversations at the Ukraine-NATO Council platform. "This is another tool, and I want to try it, so that NATO countries can talk to Ukraine about the possibility of a small coalition of neighbouring countries shooting down enemy missiles," he said. "I think this decision is probably difficult for our partners. They are always afraid of excessive escalation, but we are fighting that." Sign up here. https://www.reuters.com/world/europe/ukraine-finally-deploying-f-16-fighter-jets-says-zelenskiy-2024-08-04/

2024-08-04 15:40

TORONTO, Aug 4 (Reuters) - A 24-year-old firefighter was killed by a falling tree while battling a forest blaze northeast of Jasper in the Western Canadian province of Alberta on Saturday, the police said in a statement. The deceased was a resident of Calgary and based out of the Rocky Mountain House Fire Base, the Royal Canadian Mounted Police said. The RCMP said it was notified of a serious injury sustained on Saturday by an Alberta Wildland fire employee who was extracted from the scene. Nearly a third of Jasper's structures were destroyed when a massive wildfire, with flames burning 330 feet (100 meters) high, hit the popular Alberta tourist town in late July. There are currently 120 active wildfires in the province. "Heartbroken by the news that a firefighter has lost his life while battling the wildfires in Jasper," Prime Minister Justin Trudeau said in a social media post on X, adding "his loss is deeply felt." Alberta's Minister of Forestry and Parks Todd Loewen also expressed his condolences. Sign up here. https://www.reuters.com/world/americas/alberta-firefighter-dies-battling-blaze-western-canadas-jasper-2024-08-04/

2024-08-04 14:53

CAIRO, Aug 4 (Reuters) - Yemen's Iran-aligned Houthi movement said on Sunday that it targeted a Liberia-flagged container vessel in the Gulf of Aden, claiming its first attack on shipping lanes since Israel carried out a retaliatory airstrike in Hodeidah port on July 20. Houthi military spokesperson Yahya Saree said in a televised statement that the MV Groton was attacked by ballistic missiles. British maritime agency UKMTO and British security firm Ambrey said on Saturday that the vessel was targeted by a missile 125 nautical miles east of Yemen's port of Aden. Both said that no water entry or oil leaks were observed. Built in 2002, the ship was heading to Djibouti, according to Refinitiv data. The attack is the first since an apparent lull following Israel's attack on Hodeidah, which occurred a day after a drone launched by the Iranian-backed group hit Israeli economic hub Tel Aviv. The Houthi militants have launched attacks on international shipping near Yemen since last November in solidarity with Palestinians in the war between Israel and Hamas. The attacks have drawn U.S. and British retaliatory strikes and disrupted global trade as ship owners reroute vessels away from the Red Sea and Suez Canal to sail the longer route around the southern tip of Africa. Sign up here. https://www.reuters.com/world/middle-east/yemens-houthis-claim-first-attack-shipping-lanes-two-weeks-2024-08-04/

2024-08-04 13:23

Aug 4 (Reuters) - Libya's internationally recognised government condemned on Sunday attempts to shut operations at the Sharara oil field, describing them as "political blackmail". In a statement, the government said it would not spare efforts to defend the interests of the Libyan people after local protesters partially shut down the field on Saturday. The Sharara field, one of Libya's largest production areas with a capacity of about 300,000 barrels per day, has been a frequent target of local protesters for various political reasons. Sign up here. https://www.reuters.com/world/africa/libya-says-attempts-suspend-operations-sharara-oil-field-are-political-blackmail-2024-08-04/

2024-08-04 12:28

CAIRO, Aug 4 (Reuters) - Yemen's Iran-aligned Houthi movement downed US drone “MQ-9” over the country's northern Saada province, two sources from the group told Reuters on Sunday. The attack would be the first to be claimed by the Houthis since Israel carried out a retaliatory airstrike against the group in the port of Hodeidah. Sign up here. https://www.reuters.com/world/middle-east/yemens-houthis-down-us-drone-over-saada-sources-tell-reuters-2024-08-04/