Latest news with #Kalchev
Yahoo
08-05-2025
- Business
- Yahoo
Bitcoin price nears $100k amid US-UK trade deal optimism
Bitcoin surged (BTC-USD) past $99,300 (£74,786) early on Thursday, edging closer to the $100,000 (£75,313) milestone, amid optimism surrounding US president Donald Trump's anticipated trade deal with the UK. The largest cryptocurrency by market capitalisation gained over 2.5%, buoyed by expectations of tariff reductions and improving macroeconomic conditions. Trump is scheduled to announce the framework of the UK trade agreement at a news conference later on Thursday. In a social media post on Wednesday, US president Donald Trump teased that a trade deal announcement would be coming on Thursday, He said that the conference concerns a "MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!" Bloomberg reported that, according to people familiar with the matter, the agreement is expected to be with the UK. The deal is expected to include tariff reductions on key sectors such as automotive and digital services. This would mark the first significant trade agreement for the administration since the imposition of sweeping tariffs on trade partners last month. Read more: Crypto live prices The announcement has positively impacted financial markets as well as the cryptocurrency market. US equity indices posted pre-market gains. Dow futures (YM=F) were up 0.55%, S&P 500 futures (ES=F) up 0.78%, and Nasdaq futures (NQ=F) up 1.09%. Risk assets are still absorbing the implications of Wednesday's Federal Reserve decision to hold interest rates steady in the range of 4.25% to 4.5%. However, Nexo analyst Iliya Kalchev told Yahoo Finance UK that the US Federal Reserve's ongoing commitment to quantitative tightening could limit the longevity of any rally. "Bond yields, particularly on the long end, may edge higher in response to the sustained runoff, while the US dollar could see modest strengthening as expectations for a dovish pivot fade," Kalchev said. "Risk assets such as cryptocurrencies and growth stocks may enjoy short-term support, though tighter financial conditions remain a limiting factor over the medium term." While full details of the potential US-UK trade agreement remain unclear, any rollback of tariffs could provide a boost to risk assets, Kalchev added. Bitcoin's rally is unfolding even as the Federal Reserve scrapped earlier plans to ease the pace of its balance sheet runoff. Balance sheet runoff is when the Fed lets some of its bonds expire without replacing them, which slowly pulls money out of the economy to cool things down. "The Fed abandoned its earlier plans to slow the pace of balance sheet runoff and this means that the current monthly caps on Treasury and mortgage-backed securities redemptions will remain in place, allowing quantitative tightening to continue at its present pace," Kalchev said. Read more: How Trump and Melania meme coins are performing after 100 days Quantitative tightening weighs on risk assets because it reduces the amount of money circulating in the financial system. By letting bonds mature without reinvestment — balance sheet runoff — the Federal Reserve is effectively pulling liquidity out of the economy. This makes borrowing more expensive and investing in riskier assets like stocks and cryptocurrencies less attractive. Kalchev added that Fed chair Jerome Powell struck a measured tone at Wednesday's post-Federal Open Market Committee (FOMC) press conference, noting that while economic growth and labour markets remain robust, policymakers are now more mindful of growing uncertainty. "Policymakers appear focused on managing both sides of the dual mandate, keeping a close eye on inflation pressures while also being mindful of risks to employment, and markets are likely to interpret the decision as steady but not soft," Kalchev said. Read more: Why pension funds are buying bitcoin What we know about Elon Musk's controversial blockchain vision for US How AI could change the internet
Yahoo
28-03-2025
- Business
- Yahoo
BlackRock Launches Bitcoin ETP in Europe, Marking Key Step for Institutional Adoption Despite Modest Inflows
BlackRock has launched its iShares Bitcoin exchange-traded product (ETP) in Europe, marking a significant moment for Bitcoin's institutional adoption in the region. The product began trading on March 25 on major European exchanges, including Xetra, Euronext Amsterdam, and Euronext Paris. However, analysts believe that the demand for the ETP in Europe will be lower compared to the U.S. market, where BlackRock's iShares Bitcoin Trust ETF has experienced significant inflows. In fact, BlackRock's U.S. ETF has captured over 50% of the market share for spot Bitcoin ETFs, with its holdings valued at $49 billion as of March 27, 2025. While the launch in Europe is seen as a positive step for Bitcoin's mainstream adoption, analysts at Bitfinex pointed out that U.S. spot Bitcoin ETFs benefitted from deep institutional demand and strong retail investor participation, which hasn't yet been fully mirrored in Europe. Despite this, they believe that BlackRock's entry into the European market is an important development. They also mentioned that although the market in Europe may take time to grow, BlackRock's presence could encourage other institutions to consider Bitcoin investment products. According to Iliya Kalchev, an analyst at Nexo, the early-stage inflows in Europe shouldn't be seen as a failure. Instead, he attributes the smaller initial interest to structural market differences, suggesting that long-term success will rely more on factors like infrastructure, education, and regulatory clarity. Kalchev emphasized that BlackRock's established reputation can help build momentum over time, even if the initial inflows are modest. Despite the slower pace in Europe, the launch of BlackRock's Bitcoin ETP is still viewed as a critical step in the asset's global adoption. The firm, which manages over $11.6 trillion in assets, could potentially pave the way for more institutional investors to explore Bitcoin. As the regulatory environment surrounding cryptocurrencies evolves in Europe, analysts expect that institutional participation will grow, particularly as clearer regulations emerge. The U.S. market has seen rapid growth, with Bitcoin ETFs surpassing $126 billion in cumulative holdings by January 2025. However, European Bitcoin ETFs are expected to develop at a slower pace. As BlackRock's Bitcoin ETP continues to trade in Europe, its future success will depend on how well it can adapt to the market's unique characteristics and the infrastructure that supports it. Despite these challenges, analysts remain optimistic about the long-term outlook for Bitcoin's adoption in Europe.
MTV Lebanon
27-01-2025
- MTV Lebanon
Sweden intercepts Bulgarian ship over damaged Baltic cable
The Swedish coast guard seized a Bulgarian ship after a fibre-optic cable under the Baltic Sea linking Sweden to Latvia was damaged, officials said on Monday. Latvia sent a warship on Sunday to investigate the damage, while Swedish prosecutors opened an "aggravated sabotage" investigation. Nations around the Baltic Sea have scrambled to bolster defences after the suspected sabotage of undersea cables in recent months, with some observers blaming Russia. The Swedish coast guard on Sunday instructed the Bulgarian ship Vezhen "to go into their territorial waters and it is now on anchor where an investigation... is ongoing," Alexander Kalchev, CEO of Navigation Maritime Bulgare (Navibulgar), the ship's operator, told AFP. Images of the vessel published by Swedish media appeared to show a broken arm on one of Vezhen's anchors. Kalchev denied involvement in any sabotage. "I am convinced that we cannot say... that this was a malicious act," he added. The Malta-flagged vessel carrying fertilizer from Ust-Luga in Russia and headed for South America was sailing in "extremely bad weather" on Saturday based on the information given to him by the crew, Kalchev said. An inspection on Sunday found that "one of the ship's anchors was damaged and the anchor had dropped into the sea, which means that it was possible that it had dragged along the seafloor," he said, adding that the anchor was then pulled up. The Swedish prosecutor in charge of the case, Mats Ljungqvist, told AFP that "the ship suspected of aggravated sabotage" was currently located off the coast of Karlskrona, near the small island of Aspo, but would not confirm the vessel's name. According to marine traffic websites, the Vezhen is anchored at that location, with two Swedish coast guard vessels next to it. "Staff from several Swedish authorities" have been on board the vessel since Sunday evening as part of the investigation, Ljungqvist said. He said that the the case was "primarily being handled by" the Sapo intelligence agency. Navibulgar, Bulgaria's biggest shipping company, has appointed an agent in Sweden and hired a lawyer "to defend the interests of the crew and the company", which extends its "full support" in the probe, according to Kalchev. The ship -- constructed in 2022 -- has a crew of eight Bulgarians and nine Myanmar nationals. Kalchev confirmed media reports that the ship was leased from Chinese company Hai Kuo Shipping, but said that it "has no control over the ship in any way". The damage to the cable occurred in Swedish territorial waters at a depth of at least 50 metres (164 feet), officials said. The cable belongs to Latvia's state radio and television centre (LVRTC) which said in a statement on Sunday that there had been "disruptions in data transmission services". The company said that alternatives had been found and end users would mostly not be affected, although "there may be delays in data transmission speeds". Prime Minister Evika Silina said on Sunday that Riga had notified the Swedish authorities and that the two countries were working together on the incident. Swedish Prime Minister Ulf Kristersson confirmed on Sunday that he had been in contact with Silina, and said that Sweden, Latvia and NATO were closely cooperating on the matter. Experts and politicians have accused Russia of orchestrating a hybrid war against the West as the two sides square off over Ukraine. NATO this month announced it was launching a new monitoring mission in the Baltic Sea involving ships and aircraft to deter attempts to target undersea infrastructure. European Union President Ursula von der Leyen expressed "full solidarity" with countries affected by the incident. "The resilience and security of our critical infrastructure is a top priority," von der Leyen wrote on X.
Observer
27-01-2025
- Observer
Sweden intercepts Bulgarian ship over damaged Baltic cable
SOFIA: The Swedish coast guard seized a Bulgarian ship after a fibre-optic cable under the Baltic Sea linking Sweden to Latvia was damaged, its owner said on Monday. Latvia sent a warship on Sunday to investigate the damage, while Swedish prosecutors opened an "aggravated sabotage" investigation. Nations around the Baltic Sea have scrambled to bolster defences after the suspected sabotage of undersea cables in recent months, with some observers blaming Russia. The Swedish coast guard on Sunday instructed the Bulgarian ship "to go into their territorial waters and it is now on anchor where an investigation ... is ongoing," Alexander Kalchev, CEO of Navigation Maritime Bulgare (Navibulgar), owner of the Vezhen, said. Images of the vessel published by Swedish media appeared to show a broken arm on one of Vezhen's anchors. Kalchev denied involvement in any sabotage. "I am convinced that we cannot say ... that this was a malicious act," he added. The Malta-flagged vessel carrying fertilizer from Ust-Luga in Russia and headed for South America was sailing in "extremely bad weather" on Saturday based on the information given to him by the crew, Kalchev said. An inspection found that "one of the ship's anchors was damaged and the anchor had dropped into the sea, which means that it was possible that it had dragged along the seafloor," he said, adding the anchor was then pulled up. The Swedish prosecutor in charge of the case, Mats Ljungqvist, told AFP that "the ship suspected of aggravated sabotage" was currently located off the coast of Karlskrona, near the small island of Aspo, but would not confirm the vessel's name. According to marine traffic websites, the Vezhen is anchored at that location, with two Swedish coast guard vessels next to it. "Staff from several Swedish authorities" have been on board the vessel since Sunday evening as part of the investigation, Ljungqvist said. "The case is primarily being handled by (intelligence agency) Sapo, and I am in charge of the preliminary investigation. We are also receiving excellent assistance from the Swedish coast guard, the Swedish police's National Operations Department as well as the military," he said. Prime Minister Evika Silina said Riga had notified the Swedish authorities and that the two countries were working together on the incident. Swedish Prime Minister Ulf Kristersson confirmed he had been in contact with Silina, and said Sweden, Latvia and Nato were closely cooperating on the matter. Nato this month announced it was launching a new monitoring mission in the Baltic Sea involving ships and aircraft to deter attempts to target undersea infrastructure. European Union President Ursula von der Leyen expressed "full solidarity" with countries affected by the incident. "The resilience and security of our critical infrastructure is a top priority," von der Leyen wrote on X. — AFP
Euronews
27-01-2025
- Politics
- Euronews
Sweden seizes and boards ship suspected of cable damage in Baltic Sea
Sweden's coast guard boarded and seized the ship they allege damaged the underwater fibre optic cable between Latvia and Sweden in the Baltic Sea, in yet another incident sparking fresh fears of sabotage. After the cable's operator said there was reason to believe the damage may have been caused by external influence, the Swedish prosecutors launched a preliminary investigation into the suspected sabotage and seized the ship believed to have been behind it. The seized vessel is reported to be the Vezhen — a Maltese-flagged bulk carrier registered to a Bulgarian shipping company — with eight Bulgarian officers and nine sailors from Myanmar on board. Local media say that two days before the incident, it left the Russian port of Ust-Luga and sailed towards South America loaded with fertilisers. The head of the Bulgarian shipping company, Navigation Maritime Bulgare, Aleksandar Kalchev, said it was possible the ship caused the cable to break but dismissed any possibility of sabotage or any other action by the crew. According to Kalchev, the ship accidentally dropped its anchor while it was sailing in extremely inclement weather on Saturday. The crew then woke up to see their anchor being dragged along the seabed. This incident follows similar cases reported in the past two months between Lithuania and Sweden, Germany and Finland, and Estonia and Finland, as well as growing fears of cyber and hybrid interference by Russia. Germany's Foreign Minister Annalena Baerbock said the news can't be a coincidence and added that too often in the Baltic Sea, 'GPS signals are repeatedly disrupted, critical infrastructure is spied on with drones.' She said the EU and NATO have intensified their work in the area, particularly within the last few weeks, and described plans for this coordination to expand to 'strengthen our resilience".
