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US expels Venezuelan migrants to Mexico under joint plan By Reuters

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© Reuters. FILE PHOTO: Venezuelans take part in a caravan after impatient waiting for a humanitarian visa to cross the country to reach the United States in Tapachula, Chiapas, Mexico, on June 24, 2022. REUTERS/Jose TORRES/FILE PHOTO

Written by Dave Graham and Ted Hesson

MEXICO CITY/WASHINGTON (Reuters) – U.S. and Mexican officials have agreed on a plan to stem the growing number of Venezuelans crossing their common border that would enable the United States to expel Venezuelans into Mexico while granting humanitarian access to thousands of them by air.

The latest scheme to contain illegal immigration on the US-Mexico border was announced Wednesday, less than a month before the US midterm elections that threaten to deprive Democratic President Joe Biden of his party’s control of Congress.

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The two governments said in a statement that as of October 12, the US authorities will begin to manage the arrival of 24,000 Venezuelan immigrants by air.

“These actions demonstrate that there is a legal and orderly way for Venezuelans to enter the United States, and legal entry is the only way,” US Homeland Security Secretary Alejandro Mallorcas said in a statement.

“Those who attempt to illegally cross the southern border of the United States will be returned to Mexico and will not be eligible for this process in the future,” he added.

Biden has struggled politically to deal with a record number of immigrant arrests at the southwestern US border, a phenomenon fueled by an increase in arrivals from Venezuela, as well as from Cuba and Nicaragua.

His Republican opponents, who are seeking control of Congress in the November 8 elections, have criticized what they see as Biden’s failure to secure the border.

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The two governments said the US-Mexico plan would be based on the “Union for Ukraine” programme. Under this program, after the Russian invasion of Ukraine on February 24, Ukrainians can enter the United States by securing a sponsor and applying from outside the country.

The time frame for the entry of the Venezuelans was not clear, and in a call with reporters, US officials did not explain how they reached the 24,000 number.

Meanwhile, Mexico said that to cope with the increased influxes, it would “temporarily” allow some Venezuelan citizens to enter Mexico through the US border, without specifying a number.

More than 150,000 Venezuelans were arrested at the US-Mexico border between October 2021 and August 2022, according to US government data. That compares to about 48,000 Venezuelans arrested at the US-Mexico border in fiscal year 2021.

Mexican officials argue that economic sanctions against the government of Venezuelan President Nicolas Maduro are fueling illegal immigration, and should be eased.

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A Mexican official said the United States had already expelled hundreds of Venezuelans to Mexico before the plan was announced. US statistics show 453 Venezuelan expulsions for the month of August, the latest publicly available data.

To qualify for the New Entry Program, a person or organization based in the United States must support the applicant’s application, and they will enter United States territory by air.

The Mexican government has said that those seeking progress should not go to the US-Mexico border. US officials have said Venezuelans who enter Mexico or Panama illegally as of October 12 will not be eligible for the program.

The Mexican government said the United States will, at Mexico’s request, provide an additional 65,000 temporary visas for immigrants for non-agricultural jobs. Of these, 20,000 will be allocated to Central American and Haitian citizens.

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MicroStrategy is at its lowest level since 2020 after the sales were revealed

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(Bloomberg) — Shares of MicroStrategy touched their lowest level since August 2020 after the enterprise software company, which in recent years has been known as the largest buyer of bitcoin, revealed its first sale of the token.

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The stock fell 1.1 percent to $136.63 on Thursday, down 75 percent this year. Bitcoin rose less than 1% to around $16,590 and is believed to have fallen 64% since the start of the year.

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In a filing on Wednesday, MicroStrategy said it acquired approximately 2,395 Bitcoin between the beginning of November and December 21 through its subsidiary MacroStrategy, and paid out approximately $42.8 million in cash. It then sold 704 of the tokens on Dec. 22 for a total of about $11.8 million, citing tax purposes, before buying another 810 of them two days later.

Matt Malley, chief market strategist for Miller Tabak + Co. Step down as CEO. This news means they don’t seem to want to do that anytime soon.”

Overall, MicroStrategy held about 132,500 bitcoins worth over $4 billion USD as of December 27th. The company paid an average purchase price of $30,397 per bitcoin.

“Given MicroStrategy’s $2.4 billion in leverage, we believe the company may have a lot of leverage over Bitcoin, and may face some liquidity risk,” Jefferies analyst Brent Thiel wrote in a note on Wednesday. Thill has an “underperform” rating on the stock and a price target of $110.

Over the years of the pandemic, MicroStrategy has become well known for its Bitcoin takeovers, largely led by Saylor. Earlier this year, Saylor stepped down from that role and now serves as CEO at the company and continues to lead its bitcoin strategy.

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MicroStrategy was trading around $120 before Saylor first announced the company’s Bitcoin purchases in 2020. The stock reached an all-time high of $1,315 in February 2021.

(Updates to include the stock’s closing price in the second paragraph.)

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Bankman-Fried May File Petition in New York Federal Court Next Week Before Judge Louis Kaplan By Cointelegraph

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Former FTX CEO Sam Bankman-Fried is set to appear in court on the afternoon of January 3 to enter a lawsuit over two counts of wire fraud and six counts of conspiracy against him related to the collapse of cryptocurrency exchange FTX, according to Reuters. mentioned on December 28, citing court records. Bankman-Fried will appear before District Judge Lewis Kaplan in Manhattan.

Judge Kaplan was appointed to hear the case on December 27 after the original judge in the case, Ronnie Abrams, Resigned herself because of connections between FTX and the law firm Davis Polk & Wardwell, where her husband is a partner. The company provided advisory services to FTX in 2021.