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Bitcoin Drops 11% Since Friday et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jun 11, 2018 12:42 PM 1 min read
Editorial

End of Day Wrap-up (Monday / June 11, 2018) #Bitcoin #cryptocurrency #Google #Amazon #Facebook #NiravModi #Trump #G7 #Xiaomi #China #privacy #Transfin

Editor's Comment: Avenue Supermarts, operator of DMart, crosses market capitalisation of INR1L cr. Firm reports 65.8% rise in Dec quarter net profit yoy. Operating margin at 10.3% vs. 8.6% yoy.

 

Bitcoin drops 11% since Friday driven by Cryptocurrency exchange hack in South Korea. Over the weekend, cryptocurrency exchange Coinreel tweets it was hacked. Decline also follows a Wall Street Journal report last week stating US regulators are investigating potential price manipulation at four major cryptocurrency exchanges. 

 

B.N. Srikrishna, former SC judge, to share draft bill on data-privacy this week which can potentially impact how Google, Amazon, and Facebook operate in India. A custom framework considering India's vernacular diversity and awareness is expected. 

 

Nirav Modi has fled to the UK, seeking political asylum, as per a Financial Times report which was released over the weekend.

 

President Trump accuses India of charging 100% tariff on certain US goods as he threatens to cut trade ties at the G7 summit.

 

Chinese smartphone and gadget maker Xiaomi posts loss of $1.1bn in Q1 ahead of its upcoming stock listing where company expected to be valued at $70bn. Company undergoing aggressive push to expand overseas.