The FTX chaos is starting to blow back on Binance

Investors pulled bns of USD from the world’s biggest crypto exchange last week: Binance, the world’s largest crypto trading platform suffered USD 6 bn of outflows in the first of last week as investor confidence in crypto assets hit new lows following the arrest of disgraced FTX founder Sam Bankman-Fried, the Financial Times reports. Not helping matters: An accounting firm hired by Binance to conduct a “proof of reserves” report and assuage concerns about its capitalization stopped working the company.
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EGX30 | 15,142 | -1.5% (YTD: +26.7%) |
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USD (CBE) | Buy 24.64 | Sell 24.74 |
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USD at CIB | Buy 24.65 | Sell 24.72 |
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Interest rates CBE | 13.25% deposit | 14.25% lending |
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Tadawul | 10,290 | +0.4% (YTD: -8.8%) |
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ADX | 10,328 | +1.6% (YTD: +21.7%) |
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DFM | 3,329 | +0.4% (YTD: +4.2%) |
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S&P 500 | 3,852 | -1.1% (YTD: -19.2%) |
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FTSE 100 | 7,332 | -1.3% (YTD: -0.7%) |
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Euro Stoxx 50 | 3,804 | -0.8% (YTD: -11.5%) |
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Brent crude | USD 79.04 | -2.7% |
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Natural gas (Nymex) | USD 6.60 | -5.3% |
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Gold | USD 1,800.20 | +0.7% |
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BTC | USD 16,711 | -0.8% (YTD: -63.8%) |
THE CLOSING BELL-
The EGX30 fell 1.5% at Thursday’s close on turnover of EGP 3.57 bn (143% above the 90-day average). Foreign investors were net sellers. The index is up 26.7% YTD.
In the green: Juhayna (+10.2%), Eastern Company (+5.6%) and Cleopatra Hospitals (+3.9%).
In the red: Egypt Kuwait Holding-EGP (-5.5%), Ezz Steel (-4.7%) and Sidi Kerir Petrochemicals (-4.0%).