Adient, a global leader in the production of car seats, has announced its intention to restructure the operations of its plant in Ploiesti, Prahova County, on Monday, January 12.
Several blockchain analysts said they were unable to verify whether the Latin American nation held $60 billion in the cryptocurrency. Paul Atkins, chair of the US Securities and Exchange Commission (SEC), didn’t rule out the possibility of authorities seizing Venezuela’s reported Bitcoin holdings after US forces unseated and captured the country’s president. In a Monday interview with Fox Business’ Stuart Varney, Atkins responded to reports claiming that Venezuela holds up to $60 billion worth of Bitcoin (BTC), though several analysts said they were unable to verify these claims. The SEC chair said it “remains to be seen” what action, if any, the US would take if it had the opportunity to seize the reported 600,000 BTC. “I leave that to others in the administration to deal with — I’m not involved in that,” said Atkins in response to a question on whether the US would “take those Bitcoin off ‘em.” Read more
Fitch said sharp Bitcoin price swings could quickly erode collateral backing these securities, increasing the risk of losses for lenders and investors. Credit rating company Fitch Ratings has flagged a high degree of risk associated with Bitcoin-backed securities, a warning that could complicate the expansion of crypto-linked credit products among institutional investors. In a Monday assessment, Fitch said Bitcoin-backed securities, financial instruments typically structured by pooling Bitcoin (BTC) or Bitcoin-linked assets and issuing debt against that collateral, carry “heightened risks” that “are consistent with speculative-grade credit profiles.” The agency said such characteristics could place the products in speculative-grade territory, a designation associated with weaker credit quality and a higher likelihood of losses. Read more