before we go ahead, a quick reminder of our top story, israel's prime minister benjamin netanyahu has announced he is putting on hold the judicial over hold for several weeks. he said he made the decision to allow time to achieve a broad consensus. the delay comes off the massive protests across the country and a general strike. he w businesses up next with stephen bade slave stay tuned for that watching t w. every journey is full of surprises. we've gone all out to give you some time with them. i'm in your northernmost count to

play with brain one. still very much alive, dw channel, your guy to with recognizes where exactly. it was fun and i've learned a lot our culture history. all their d. w, travel extremely worth a visit with a i'm from beardsley in berlin. here's a look at our top stories. the u. s. file suit against by nance, the world's largest crypto currency exchange. as regulators turn up the pressure on crypto platforms in the wake of the f t x collapse. bank shares get a boost from a deal for silicon valley bank deposits and loan. we'll talk to our wall street

correspondents. also on our show travel chaos and germany as public workers walk out in one of the biggest strikes in decades. welcome to our show. we begin in the u. s. where regulators are suing crypto currency exchange, giant finance, which they said ran a legal crypto currency based trades with us investors and a sham compliance program. company founder john peng, joe and former chief compliance officer, samuel lim. we're also named in the suit us government accuses by nancy encouraging you as customers to open accounts without verifying their identity and allowing them to communicate with the company, the messenger service that then deleted all chat records. in a written statement, finance said the suit was disappointing, but promised to continue to work with regulators that day as a managing editor at coin desk, which covers the crypto currency industry. nick, american regulators going after the world's largest crypto exchange and it's

founder as someone who covers this industry. how surprised are you? hey, thanks for having me. i would say this has been telegraphed for a while now. we've known even finance officials have acknowledged that us regulators would soon be taking action against the company they expected to find to settle these charges. and i think the specific agency, in this case, the commodities regulator, might have been a little bit of surprise. but the fact that you as regulators were looking into by nance has been, you know, i think, well known for what number of years now a finance is massive, but it's also quite opaque in a structure. how would you describe its place in the crypto industry? is definitely a very important player. the fact that it is the largest exchange by volume means that it provides a lot of certainty to the markets. a kind of reduces volatility to some extent, provides a lot of liquidity for traders to trade against. of course, with the allegations from the lawsuit,

but as the commodity futures trading commission kind of raises questions about just how that liquidity is. you came to be and, you know, just how exactly bonuses providing this role. but it's still a, you know, important player in the ecosystem. what could this case and for the critique of finance, what could it mean for the industry in general? i think there's a number of questions that still need to be answered. one being a, you know, will there be any other charges against finance and what exactly could those charges resulting specifically, will, you know, federal prosecutors also go after finance? if finances only, you know, facing civil charges, then it will pay a fine, they'll settle these charges. it probably won't have, you know, a huge impact on the industry. but if these charges pile up, then that might raise, you know, stakes for both the company and the industry has a large we know the finance isn't alone and many aspects coin base which is

publicly listed in the us, says that it expects to be targeted by the s c c. how soon significant could that be for the crypto industry? that i think would be very c navient, especially 40 us crypto industry. if coin base is targeted for listing certain tokens for offering is taking service and offering as well. service then, you know, these are the actions that most exchanges in the us also, you know, undertake. so it could be the beginning of, you know, a wave of reports and actions against most of those changes that are currently operating in the us. and it's going to be as loses lawsuit if it goes to trial and loses against, you know, in court lives as an appeal. then that would be a very, very, i was a alarming signal for utter crypto exchanges in the us. it could drive users and traders to decentralize the changes or to utter offshore platforms in an effort to try and you know, continue acquisition market which would still probably result in lower

participation and, you know, arise and let's see, sketch your platforms to operate on all this comes in a moment on crypto is actually profiting from the recent banking crisis to these regulatory actions and announcement that we're seeing right now. does that sort of put a shadow over that kind of rally? we definitely saw a big queens price fall and crypt early. the stocks fall, you know, once the lawsuit against buying it this morning was announced. so i would say yes, it does seem to be putting a bit of a shadow on the industry at large. but i do think that, you know, again, it's going to depend a lot on what happens next is finance faced. these charges which i expected probably. well, then, you know, we'll see you have to will be in a kind of a waiting period for some time before we really see the full outcome right next day managing editor, a managing editor at coin to thank you and give staying with markets. silicon valley bank, the big news once again today as another lender 1st citizens agreed to take over

its deposits, loans, bank shares, responding positively including here in europe. let's go to teddy austro on wall street for more teddy. are we seeing jitters start to calm down when it comes to these banks? yours? well, we're certainly seeing a jump in stock prices, largely among those smaller and regional banks where a lot of that turmoil in the past few weeks are concentrated. that 1st week of bank failures we saw here in the us about a $100000000000.00 of deposits were pulled out. so this 1st citizens purchase of sep, it certainly does appear to be restoring faith in the market. not stock. specifically, we saw almost the jump, a 50 percent, but we have already some of those fears start to quell and past few days, the bed has promised to provide some more emergency support to smaller regional banks. should they fail much like they did at s b, b,

as well as the signature back of the attention to the central banks. now, if some of these fears are starting to quell and we expect that maybe they'll be a bit more aggressive again with their interest rate hikes. while the better here on wall street are, is that the fed is probably going to do a mild hike, much like they did last week when they were faced with that really tough decision to risk more financial instability or to continue trying to tame inflation. they calculated that the banking sector was stable and that they could do a 25 basis points high. now the question is, how aggressive going forward? well, inflation here in the united states is starting to cool the numbers at the beginning, right up this month. we heard debates about the fed being a more aggressive, but now we have to wait for those numbers to see if the fed is satisfied. right. the city, austria, and wall street. thank you. let's go now to some of the other global business

stories making headlines. saudi national bank chairman amaral dairy has resigned in the wake of his comments. he made about credit suisse could ary had said his bank would not raise at stake in the then embattled lender adding to its slum and shares . a saudi national bank was the largest single shareholder of credit suisse before its sale, the fellow swiss lender. yes. when china's best known tycoon jack mom has returned to china to visit a high school and hung jo, that's according to the south china morning post mar the co founder of tech giant ali baba and fintech group aunt vanished from public view. after criticizing state banks and 2020, his disappearance was seen as part of a broader state crack down on private business. israel's largest trade union group triggered a general strike on monday, across a broad swath of sectors, hooting, health, transit, and banking. as part of broader protests in the country, the action was aimed at prime it prime minister benjamin netanyahu now paused,

plans to overhaul the judiciary and was later lifted. when relation remains concern round much of the world, including here in germany, last year, wages fell 3 percent when accounting for rising costs on monday, public workers organized $1.00 of the largest strikes in decades as part of their bid to call back some of those losses. trained drivers in airport workers were among those walking out of the job, crippling commutes, and travel across the country. and they warn it could just be the beginning. striking georgia bon workers at cologne, central train station, long distance rail, travel in germany, has ground to a halt. most regional trends are also at a standstill. i hope for more money and better work quality. good light on this, i impacting the wrong people that i feel bad for the people who can't get to work or aren't going to make the vacation flighty. but we can't do anything about that

light. all sophia, i inflation is increasing the pressure on workers, food and energy costs have left especially of the past year. that's why union negotiators want a 10.5 percent wage increase, meaning at least $500.00 euros more a month. but employers are only offering a 5 percent raise in 2 steps. the nationwide transportation strike is an inconvenience for many in germany. and the wage dispute could put the brakes on germany's economic development. the strike was announced beforehand or so companies could adjust to this, the impact would be limit at the key question is will there be a longer strike later and this negotiation, or will there be a settlement without further strikes? if, of course, if they was a longer strike, that would have a severe impact on the economy. and that would, that the recovery. the unions have made one thing clear. if employers aren't prepared to pay more than germany's trains and planes won't be going anywhere.

our reporter was outside the main train station in cologne today. and she sent us this on any given day, there are usually over 300000 passengers moving through the clone train station that you can see behind me. this is absolutely not the case to day with no long distance trans running, no regional or local trans, most buses as well all coming to a halt as public transportation sector. employees strike inflation in germany, hit over 8 percent. and this is really hitting the lower lowest paid workers, the hardest. the strikes here in germany are adding to a landscape of strikes across europe in france and spain in the u. k. showing that inflation is hitting workers everywhere and that they will continue to speak out unless something is done soon. a report it's christy cloud's in there and closed his reminder. the top business story we're following for us. regulators are suing crypto currency exchange giant bi nance,

which they said ran illegal crypto currency based trades with us investors a sham compliance program. company founder chung pang, chao and former chief compliance officer, samuel limp, also named in the suit in a written statement. finance said the suit was disappointing, but promised to continue working with regulators. right, that's our show for more you can check us out online dot com slash business. we're also on youtube under the dw news channels i'm seeing here is invalid watching. oh, woman like freedom. cool, that's rhenium women, not taking to the streets. i'm risking them like who are fighting against oppression who freedom. the women in

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