DIFX Buzz: Here’s a weekly market recap for you to start your Monday with the top news of the week.
Let’s see what happened in markets this week:
❖ Twitter had its source code leaked to GitHub according to a recent court filing. The code was taken down last week Friday.
❖ First Citizens purchases SVB for around $500mn in stock.
❖ First Citizen has a deal with the regulators to share losses to stem further credit losses.
❖ Since the collapse of SVB, depositors in the US have grown wary of smaller regional banks and have begun withdrawing funds.
❖ Bitcoin has seen resistance at $28,000 but failed to see a major selloff even as the Fed hiked 25 basis points which indicates strength.
❖ Saudi Aramco reaches a $12.2bn deal to build an oil refinery and petrochemical project in China.
❖ Gold slides 1% on Monday as there is a slightly more positive sentiment over the banking crisis.
❖ The lack of supply and increase in demand for Copper has resulted in higher prices for the metal.