top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen


16 Nov 2021

Bitcoin Slides Down Nearing $60,000; Ether Reaches a New Low

The Index Today

Bitcoin fell in value reaching towards $60,000 while Ethereum dropped further reaching a new low this month. According to CoinGecko, the largest digital token fell 4% to $61,400 as of 1:32 pm Singapore. Ethereum which is the second largest cryptocurrency fell by 6.8%. Overall, the crypto market fell 7% in a day to $2.8 trillion.

Hayden Hughes, CEO of Alpha Impact said, “We’ve seen the U.S infrastructure bill get signed, which has initiated a selloff from traders who are concerned about regulation and taxation.” Hayden Hughes also stressed on China’s regulatory crackdown and its effects on crypto mining.

President Joe Biden’s new $550 billion infrastructure bill comes with new tax regulations and requirements for digital currencies. In other news, China’s strict crackdown on cryptocurrencies in previous months has affected the market. In the past year, the value of Bitcoin has surged to almost double its value. Other digital currencies such as Ethereum have also increased in value as they provide a strong hedge against inflation risks. Many experts have said that the growing market was eventually going to pause soon as digital currencies are considered extremely volatile.

Clay pottery with table linens
bottom of page