Daily Digest: Thursday 23rd March
USA
-Notorious US short seller Hindenburg Research has declared a position shorting Block ($SQ), the financial service set up by twitter co founder Jack Dorsey. Hindenburg have focussed their analysis on Cash App a Block product, suggesting the service had compliance issues and is likely to have been used to facilitate fraudulent financial transactions.
-TikTok CEO Shou Chew testified in Washington in front of a committee investigating safety on the app alongside it’s use and collection of user data.
-Credit Suisse and UBS have once again made headlines after reports have suggested that the Department of Justice is investigating the role of CS and UBS employees in supporting Russian clients to avoid sanctions during 2022.
UK
-The Bank of England has once again hiked interest rates by 25 basis points or 0.25%, meaning the bank rate is now 4.25% as the BoE targets higher inflation.
Rest of the world
-Do Kwon, the South Korean entrepreneur responsible for the creation of the failed stable coin project TerraUSD has been arrested in Montenegro on Thursday afternoon, after the documents he was traveling on were found to be fraudulent.
-Protests have continued across France as President Macron supports his retirement and pension reforms.