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Ukraine Invasion – Failure Of European Subsidiary of Russian Sberbank Imminent!

Jacob Weizman
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Ukraine Invasion – Failure Of European Subsidiary of Russian Sberbank Imminent!

As a result of the Ukraine invasion of Ukraine, the EU imposed sanctions on Russian banks, which put them under pressure. The European headquarters of the state-owned Russian Sberbank is located in Vienna, Austria. The European Central Bank ECB warned that Sberbank Europe is likely to fail because of economic difficulties. Therefore, as the national resolution authority, the Austrian Financial Market Authority (FMA) has imposed a moratorium on Sberbank Europe with immediate effect.

Sberbank Europe AG, registered in Vienna, Austria, is a wholly-owned subsidiary of state-owned Russian Sberbank in Moscow. The following restrictions apply for the period of the moratorium:

  • All payment and delivery obligations of Sberbank Europe AG to its creditors are suspended;
  • Creditors cannot enforce any security interests against Sberbank Europe AG;
  • Termination rights of counterparties of Sberbank Europe AG are temporarily suspended;
  • The enforcement of security interests of secured creditors of Sberbank Europe AG is prohibited;
  • The termination rights of a party to a contract with Sberbank Europe AG are suspended;

Therefore, Sberbank Europe AG may not make any disbursements, transfers, or other transactions during the moratorium. However, depositors of eligible deposits have access to a maximum amount of € 100 per day to secure the most necessary daily needs until the end of the moratorium. Deposits up to €100,000 will continue to be covered by the Austrian deposit guarantee scheme.

The European Central Bank ECB has warned that Sberbank Europe AG has severe economic difficulties. As a result, the bank’s failure is imminent. After a thorough assessment, the Single Resolution Board (SRB), as the competent European bank resolution authority, has imposed this temporary moratorium to consider the further steps required. The measure serves to safeguard and strengthen financial market stability in the banking union.

Cryptoeconomy – Coinbase Hires Former Goldman Sachs Executive

Charlene Lensburg
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Cryptoeconomy – Coinbase Hires Former Goldman Sachs Executive

Goldman Sachs Group Inc. executive Roger Bartlett announced that he would move to major U.S. cryptocurrency exchange Coinbase Global Inc. “it’s time to embrace the cryptoeconomy,” the 16-year veteran of Goldman and a partner wrote in a LinkedIn post.

After being the global co-head of operations for global markets at Goldman Sachs, Bartlett will be working alongCoinbase’sase’s CFO Alesia Haas, President and COO Emilie Choi, Vice President of Institutional Products Greg Tusar, and Head of Institutional Sales Brett Tejpaul.

He described his task at Coinbase as helping its customers “embrace opportunities offered by digital assets and its ecosystem.”

Roger Bartlett’s move to the publicly traded crypto exchange Coinbase is another strong signal that the cryptoeconomy and cyberfinance have come to replace the old FIAT system.

War Times Are A Great Opportunity To Buy Stocks Cheap!

Jacob Weizman
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War Times Are A Great Opportunity To Buy Stocks Cheap!

For a few days, the Ukraine war is a reality, and with it, the era of a new Cold War! The world’s most famous investor, Warren Buffet, has warned against dumping stocks, hoarding cash, and buying gold or bitcoin in war times. He believes investing in businesses is the best way to build wealth over time. The Berkshire Hathaway CEO told CNBC in March 2014 that Russia’s invasion of Ukraine at the time wouldn’t spur him to sell any stocks.

“If stocks are cheaper, I’ll be more likely to be buying them,” he said, adding that he wouldn’t cash out even if the conflict escalated into another cold war or World War III. “Well, if you tell me all of that is going to happen, I will still be buying the stock,” he said. “You’re going to invest your money in something over time. The one thing you could be quite sure of is if we went into some very major war, the value of money would go down.“

Buffett emphasized that the US stock market rose during World War II and had marched higher over time. While good businesses will be worth more over time, dollars will be worth less, he concluded.

Warren Buffet for sure has a point here. He is considered one of the most successful investors in the world and has a net worth of over $114 billion as of February 2022, making him the world’s eighth-wealthiest person.

Read the full story on Business Insider

Watch Investors Look At Leonardo DiCaprio’s Patek Philippe Nautilus

Adrian Fuller
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Watch Investors Look At Leonardo DiCaprio’s Patek Philippe Nautilus

Leonardo DiCaprio is not known as a watch investor. Years ago he was seen with a Rolex Daytona and a Tag Heuer Aquaracer before that. Recently he was spotted with a Patek Philippe Nautilus with a Tiffany-blue dial. This is undeniably one of the hottest watches in the market, attracting major celebrity watch guys like Tiffany ambassador Jay-Z, who was the first to show the watch off in public, and LeBron James, who got something nice under the tree on Christmas Day.

Patek Philippe Tiffany

Watch investors became excited at the announcement of a new limited-edition Patek Philippe x Tiffany & Co. watch. It’s a special edition of one of the most hyped and coveted luxury watches ever. It might be the last version of Patek’s famous Nautilus 5711 ever produced and it’s got an eye-catching Tiffany-blue dial

As part of its release, Patek sent one of the pieces to be auctioned off for charity. The retail price is $52,635. However, on December 11, 2021, a Patek Nautilus Tiffany 170th Anniversary ref. 5711/1A-018 was sold for $6.5 million at Phillips auction in New York. That sum made it one of the most valuable Pateks ever sold, and by far the most valuable Nautilus in the world. The money was donated to The Nature Conservancy.

Read the full story on GQ

The Tech Domination In The Bloomberg Billionaires Index

Jacob Weizman
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The Tech Domination In The Bloomberg Billionaires Index

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. The figures are updated at the close of every trading day in New York. Today, the new rich people predominantly made their fortune in the tech or fintech industry.

On February 24, 2022, among the top 10 richest people in the world were seven who made their money with technology. Elon Musk is the #1. He laid the foundation of his incredible wealth as co-founder of the online payment service PayPal. Amazon founder Jeff Bezos is in second place. Microsoft founder Bill Gates and Google co-founder Larry Page are in 4th and 5th place. In between is Frenchman Bernard Arnault in 3rd place. He made his money in luxury items and fashion.

Otherwise, the only people in the top 10 who have not become rich from technology are investor Warren Buffet and Indian energy entrepreneur Mukesh Ambani. The technology entrepreneurs are the oligarchs in the cyberfinance age.

See the full Bloomberg Billionaires Index

The Russian Oligarch, Billionaire, and Investor Gennady Timchenko

Charlene Lensburg
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The Russian Oligarch, Billionaire, and Investor Gennady Timchenko

On 22 Feb 2022, U.K. Prime Minister Boris Johnson announced sanctions on three Russian oligarchs as part of the British government’s response to the escalating conflict in Ukraine – Boris Rotenberg, Igor Rotenberg, and Gennady Timchenko.

The Russian-Finish oligarch, billionaire, and oil magnate Gennady Timchenko is known for his close relationship with Russian President Vladimir Putin. Born in Soviet Armenia and raised in East Germany and Ukraine, in 1976, he graduated from the Leningrad Mechanical Institute, Putin’s List notes.

In 1997, together with his Swedish partner Torbjörn Törnqvist, he founded Gunvor. Both Russian state-owned (Rosneft, Gazprom Neft) and private companies (TNK-BP and Surgutneftegaz) sold oil abroad through Gunvor. In 2007, about 30 percent of all Russian oil exports went through Gunvor. Timchenko sold his stake to a partner in 2014 to protect the company from being hit by the sanctions against Russia over the Crim annexation.

In 2007, Gennady Timchenko founded the private investment fund Volga Group, which in 2010 became one of the largest shareholders in Novatek, one of Russia’s primary natural gas firms. This investment consolidated Timchenko’s clout in Russia’s oil and gas industry.

His biggest holdings include major stakes in publicly traded natural gas producer Novatek and chemicals manufacturer Sibur.

As of 24 Feb 2022, Timchenko was ranked 96th on the Bloomberg Billionaires Index, with an estimated fortune of US$16B making him the 8th richest person in Russia.

The Tinder Swindler’s Bodyguard Sues Netflix over breaching his human rights!

bluechipper
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The Tinder Swindler’s Bodyguard Sues Netflix over breaching his human rights!

Life writes the best stories. The Tinder Swindler on Netflix tells the unbelievable story of Simon Leviev, a conman who met women on Tinder, posed as a billionaire, and conned them out of their life savings. He called himself the “Prince of Diamonds,” telling women he was the heir to LLD Diamonds and the owner’s son, Lev Leviev. One thing the women say made it all feel real was that Simon had a team with him – including a bodyguard called Peter.

Peter is now allegedly suing Netflix over the documentary. According to Peter’s lawyer, he had no part in any scam, and he is now suing for breaching his “human rights,” which have led to him suffering mentally. His lawyer Joanna Parafianowicz said nobody reached out and talked to her client before the documentary was made. “No one has the right to deprive a person of basic rights, such as the right to image and the right to the protection of personal data,” she said. “The movie doesn’t tell my client’s story, and it must be underlined – no charges have been ever brought against him regarding this case. He’s never been involved in Simon’s businesses.”

However, many viewers would associate him with the Tinder Swindler, whose real name is Shimon Hayut. He is an Israeli citizen and was eventually caught with a fake passport in Greece in 2019. He was extradited to Israel and sentenced to 15 months in prison for theft, fraud, and forgery of documents but got out after five months on good behavior.

Read the full story on The Tab

Who is the Russian Oligarch Alisher Usmanov?

Adrian Fuller
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Who is the Russian Oligarch Alisher Usmanov?

The Russian Alisher Usmanov, born 9 September 1953, is the owner of the world’s largest superyacht, Dilbar, estimated to be worth up to a billion. Usmanov’s net worth is said to be just under $18B. Of course, he has excellent connections to Putin and the Russian establishment.

Usmanov has invested heavily in tech firms in Russia and abroad for decades while keeping close connections to the Russian political elite. Usmanov is the largest investor of Digital Sky Technologies and holds shares in several international technology companies. He teamed up with the Russian investor Yuri Milner. Between 2009 and 2011, Milner managed a series of investments in Twitter and Facebook, allegedly with Russian state money organized by Usmanov. They sold their stakes shortly after Facebook’s initial public offering in 2012 and Twitter’s in 2013, ICIJ reports.

A spokesman for Usmanov, Rollo Head, said Usmanov “has been a highly successful investor in Russian and international assets utilizing a combination of his own and borrowed funds.“

Usmanov is Muslim and is married to Irina Viner, a rhythmic gymnastics coach, who is considered to be close to Putin. He currently dedicates most of his time to promoting sport and charity. “For a Muslim, 63 is the age that the Prophet Muhammad lived to. Beyond this age, I don’t want to deal with self-interest. Today, in principle, I feel that I am no longer a businessperson. I now feel more like a public person who is engaged in charity work, which fascinates me. And since this requires a lot of money, I will maintain my position as a shareholder in businesses,” he said.

Usmanov has massive real estate investments in the UK. He owns the Grade I listed Tudor mansion Sutton Place set in 120 hectares (300 acres) in Surrey, which he bought for £10 million in 2004. In 2008, Usmanov bought Beechwood House, a Grade II listed Regency property in 4.5 ha (11 acres) of grounds in the London suburb of Highgate from the Qatari sheikh Hamad bin Khalifa Al Thani for £48 million.

Usmanov has avoided major rounds of sanctions on wealthy Russians.

What It Costs To Run The World’s Largest Superyacht!

Jacob Weizman
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What It Costs To Run The World’s Largest Superyacht!

Buying a superyacht is an expensive adventure. But maintaining a yacht is even more expensive. The Russian billionaire Alisher Usmanov owns the largest superyacht in the world, Dilbar. The 512ft superyacht is said to cost up to $80M to run every year. One fuel costs as much as four supercars. Allegedly a 500,000-litre refuel would cost nearly $800,000.

Dilbar is a super-yacht launched on 14 November 2015 at the German Lürssen shipyard and delivered in 2016. As of 2020, Dilbar is the sixth-longest yacht in the world. The ship is registered in the Cayman Islands. At 15,917 gross tonnage (GT), it is the third-largest yacht by volume, after Fulk Al Salamah and REV Ocean.

The super-secretive superyacht’s price is estimated between $810M to $1B. As reported by Bloomberg Billionaires Index in 2021, Alisher Usmanov has an estimated net worth of $17.9B. He built his wealth through metal and mining operations, and investments, and is the majority shareholder of Metalloinvest, a Russian industrial conglomerate.

According to ICIJ, Usmanov has for decades invested heavily in tech firms in Russia and elsewhere while keeping close connections to the Russian political elite.

Read the full story on The Sun

Crypto Investor Alert! Do Not Hold Your Crypto Funds On Online Exchanges!

Adrian Fuller
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0
Crypto Investor Alert! Do Not Hold Your Crypto Funds On Online Exchanges!

Canada deemed a liberal country, demonstrated how quickly governments can access bank accounts and crypto wallets and freeze the funds on them without the intervention of the courts. The government of Justin Trudeau has shown how critical decentralized cryptocurrencies without government control are. We advise crypto investors not to hold their crypto funds in custodial wallets on online exchanges but in non-custodial wallets. Do not let Big Brother control your cryptos!

States have control over centralized crypto exchanges through regulation and supervision. While Binance shows how to avoid government control through legal entities in various jurisdictions, this is becoming increasingly difficult as Binance, Coinbase, Kraken et al. need access to the FIAT system.

On Feb. 14, Canada invoked its Emergencies Act to control the Freedom Convoy, a group protesting COVID-19 restrictions by occupying Ottawa’s downtown core. The act allows the government to immediately freeze several bank accounts and prevent exchanges from working with specific cryptocurrency addresses without court approval. Over 34 cryptocurrency addresses were initially blacklisted last week.

Coinbase CEO Brian Armstrong shows himself concerned:

While law enforcement and regulators can force exchange operators like Kraken or Coinbase to freeze wallets, authorities cannot prevent the crypto owners from moving cryptocurrency peer-2-peer on blockchain a/k/a on-chain.

Decentralized crypto and states have a difficult relationship. The developments in Canada are just one of many state developments aimed at gaining control over cryptos. As a crypto investor, you should be aware of that!

Read the full story on FinTelegram
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