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Bitcoin surges above $60,000 for first time in six months

Bitcoin climbed above $60,000 Friday, pushing the digital coin further toward its all-time high, as traders speculated US regulators would clear the first bitcoin futures exchange-traded fund.

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Bitcoin surges above $60,000 for first time in six months
GNN Media: Representational Photo

The world’s biggest cryptocurrency jumped 6% to $61,488.41, according to Coin Metrics notching its highest level since Apr. 17.

Traders are optimistic about the chances of the U.S. Securities and Exchange Commission giving the green light to the first bitcoin futures exchange-traded fund, according to analysts.

The SEC is likely to allow the first U.S. bitcoin futures exchange-traded funds to start trading next week, a landmark victory for a cryptocurrency industry that has long sought permissions from Wall Street’s top regulator, according to a person familiar with the matter.

Specifically, the person said the SEC isn’t likely to block the ETFs proposed by ProShares and Invesco, which are based on futures contracts and were filed under mutual fund guidelines that SEC Chairman Gary Gensler thinks offer investors significant protection.

The ProShares Bitcoin Strategy ETF is scheduled to debut at the New York Stock Exchange on Tuesday, and experts believe the SEC unlikely to object to the product.

The CME bitcoin futures contract for October was last trading at $60,570, up about 4%.

Approval of an ETF that gives mainstream investors exposure to bitcoin would be a landmark for the crypto industry, which has long been pushing for greater acceptance of digital assets on Wall Street.

Not all cryptocurrencies got a boost from the ETF news Friday. Ether, the second-largest coin, rose 0.5% to $3,804 on spot exchanges. However, XRP and ada were both down about 2%.

Bitcoin and other cryptocurrencies have been on a wild ride this year. The number one digital coin hit an all-time high above $64,000 in April, before slumping sharply on the back of a crackdown on the crypto market in China. It’s since staged a comeback and has more than doubled in price so far this year.

SOURCE: CNBC 

Faisal Ali Ghumman

Mr. Ghumman is a seasoned journalist who has 19 years of diversified experience in print, electronic and digital media. He has worked with 92 News HD, Daily Pakistan Today, Daily The Business, Daily Dawn, Daily Times and Pakistan Observer as News Reporter, Feature Writer, Editor, Web Content Editor and Article Writer. Mr Ghumman has graduated from the Bahauddin Zakariya University Multan and is currently enrolled in M.Phil in Mass Communication at the University of Punjab.

Pakistan

Sialkot lynching:  124 rounded up over mob attack, raids underway

The heart wrenching incident occurred on Sialkot’s Wazirabad Road, where workers of private factory attacked their export manager and burnt his body.

Published by Mehak Javed

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Sialkot lynching:  124 rounded up over mob attack, raids underway

Sialkot: Police has rounded up around 120 suspects over the lynching of Sri Lankan factory manager, Priyantha Kumara Diyawadanage in Sialkot.

On Friday, a mob in Sialkot tortured a Sri Lankan national to death and set his body ablaze.

The heart wrenching incident occurred on Sialkot’s Wazirabad Road, where workers of private factory attacked their export manager and burnt his body.

The First Information Report (FIR) was lodged against 800 to 900 unidentified people at Uggoki police station under sections of terrorism, attempt to murder, plot to murder, desecration of a human body and other sections.

Prime Minister Imran Khan said he was overseeing the investigation into “the horrific vigilante attack”, as he called it “a day of shame for Pakistan”. 

“Let there be no mistake all those responsible will be punished with full severity of the law,” Premier tweeted.

Meanwhile, Sri Lankan President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa expressed “deep concern” and “shock” over the incident— expressing confidence that Imran Khan would bring perpetrators to justice.  

A day after the violent mob, President Gotabaya, turned to twitter and wrote, “Deeply concerned by the incident in Sialkot, Pakistan”. 

He further added that Sri Lanka trusts that Imran Khan and the government of Pakistan will ensure justice is served and ensure the safety of the remaining Sri Lankan workers in the country.

Prime Minister Mahinda Rajapaksa said on Twitter, “Shocking to see the brutal and fatal attack on Priyantha Diyawadana by extremist mobs in Pakistan. My heart goes out to his wife and family”.

On the other hand, up to 120 people have been arrested and conducted raids in over 200 areas of the city, Punjab Inspector-General (IG) Rao Sardar Ali Khan said.  

Several gruesome video clips shared on social media showed a mob beating the prone victim. Some clips showed his body set ablaze, as well as the overturned wreckage of what was said to be his car.  

Incident

As per preliminary investigation, a dispute emerged when the victim Priyantha Kumara directed employees to remove some stickers from the walls of the factory in the wake of foreigners’ visit.

The workers, allegedly, didn’t act on the order due to which, Priyantha came forward and removed it himself at 10:28am. 

Shortly after the heated argument, the factory owner reached the spot to resolve the issue. Following which the manager apologised for the misunderstanding on his part.  

The matter was reportedly considered settled and the factory workers had dispersed. However, some workers who held grudge, incited their colleagues to attack the manager.  

Within a few minutes, a mob formed and set on the victim within the premises of the unit, eventually killing him. 

His body was later dragged outside the factory and burned.

Police received a phone call at 11:28am about the incident and reached the site within 12 minutes.  

Moreover, police have obtained CCTV footage of the attack from 160 cameras installed at the site.   

Autopsy report 

According to the postmortem report of Priyantha Kumara, most of his body was burnt while his bones were also broken due to severe torture. 

The autopsy report confirmed a fractured skull and brain protrusion and he died of brain damage. Around 99% of the body of the manager was completely burnt. 

All the bones, including his arms and hip, were broken with the exception of one foot. 

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Pakistan

Body of missing instructor pilot recovered from Balochistan

Pilot of a gyrocopter died as the small lightweight aircraft crashed

Published by Siddra Sumreen

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Body of missing instructor pilot recovered from Balochistan

Karachi: The dead body of Qazi Ajmal, an instructor pilot who has been missing for three days, has been recovered from Kand Malir, Balochistan.

According to details, a pilot of a gyrocopter died as the small lightweight aircraft crashed in Awaran area of ​​Balochistan. He flew from Karachi last night with his gyrocopter and entered Balochistan.

Balochistan Wildlife official Amanullah Sajidi confirmed that the plane crashed at Poldat area near Hingol National Park. The aircraft crashed after hitting mountain.

Qazi Ajmal belongs to the famous Qazi family of Peshawar and SP Lasbela Ayub Achakzai has also confirmed that Qazi Ajmal's zero helicopter was found in the area of Kand Malir.

SP Lasbela said that the body of Qazi Ajmal was being shifted from Kand Malir to Hub.

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World

Deadly attack on Turk President Recep Tayyip Erdoğan foiled

The bomb was affixed to the undercarriage of the officer’s private car

Published by Siddra Sumreen

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Deadly attack on Turk President Recep Tayyip Erdoğan foiled

Ankara: An alleged attack on Turkish President Recep Tayyip Erdoğan has been foiled by the security officials in the city of Siirt, the Turkish Presidential office confirmed.

A small explosive device was reportedly attached to a car belonging to a police officer who was supposed to secure a rally attended by Turkish President Recep Tayyip Erdogan on Saturday.

The bomb was affixed to the undercarriage of the officer’s private car and found before he left for the rally, Turkey media said.

The explosive was found on the officer’s vehicle in the province of Mardin, around 125 miles from the rally in the city of Siirt, the report said.

The officer had been assigned to the rally and was a member of the riot police.

A bomb disposal team removed the device without causing any injuries, the report said.

Security officials are investigating the incident.

Turkey has been battling the Kurdish PKK group in the area for decades.

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