$99 for your first yearFT newspaper delivered Monday-Saturday, plus FT Digital Edition delivered to your device Monday-Saturday.What’s included Weekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysis More
WeFi, a next-generation financial platform merging DeFi and TradFi, has achieved another tier-1 exchange listing. The WFI token is now listed on BingX, one of the fastest-growing centralized exchanges with over 5.3 million monthly visitors and nearly $500 million daily transaction volume. Starting January 20, BingX users will be able to access the WFI/USDT pair on the exchange. WFI is the native token of the WeFi ecosystem. It serves as the utility backbone for various use cases, from staking and transaction fees to liquidity management and access to advanced decentralized applications. WeFi token’s previous launch on Bitmart created a strong foundation for growth. The listing on BingX builds on this progress by offering greater liquidity and accessibility to a broader user base. BingX’s established reputation and global presence make it a fitting choice for this expansion.According to the team, they will continue to prioritize ecosystem growth. Following the listing on BingX, efforts will focus on expanding partnerships, achieving more tier-1 listings, and improving the utility of WFI. Upcoming developments include the transition to WeChain, the launch of additional dApps, deeper integration of AI technologies, and ongoing improvements to the non-custodial financial services WeFi offers.The BingX listing reflects WeFi’s commitment to creating a financial ecosystem that is inclusive, transparent, and built for the future. The collaboration with BingX marks another chapter in WeFi’s journey to redefine how people interact with financial tools.About WeFiWeFi is a pioneering global blockchain ecosystem and intelligent data platform dedicated to transforming finance through the integration of AI and blockchain technology. Focused on building a more inclusive and accessible financial system, WeFi leverages AI-driven nodes to analyze transactional patterns, proactively prevent financial crime, and deliver transparency, interoperability, and real-time insights to the global finance and fintech sectors.Through its Initial Technology Offering (ITO), WeFi invites early adopters to participate in the ecosystem, earning rewards while contributing to its mission of democratizing finance and setting new regulatory standards worldwide.For more information, users can visit wechain.ai or follow them on X (formerly Twitter) for updates on $WFI and the WeFi ecosystem.ContactWeFipress@wefi.coThis article was originally published on Chainwire More
Despite a dovish surprise in December’s core inflation figure, which was 10 basis points below expectations, several factors could exert hawkish pressure. These include a repricing of global rates, particularly in the United States, rising energy prices, a weaker Norwegian Krone (NOK) than anticipated, and robust house prices coupled with a resilient labor market.BofA anticipates that Norges Bank will signal a potential rate cut in March but will use cautious language to prevent any dovish interpretations that might undermine the NOK. While a new rates path is not expected to be released, the monetary policy assessment is likely to highlight some hawkish risks.The Committee has shown a more nuanced view on inflation prospects and policy trade-offs, softening their previously hawkish stance on the inflation outlook in December. They made a significant revision to core inflation forecasts and acknowledged shortcomings in the central bank’s models to predict disinflation trends. With current rates well above the bank’s estimates of neutral (1.7-2.7% nominal), BofA remains convinced that a gradual cycle of rate reductions is on the horizon, starting with a 25 basis point cut in March. Although the base case predicts four cuts throughout the year, there is a growing possibility that it could be limited to three, particularly if the Federal Reserve’s easing expectations stay subdued.In terms of currency impact, BofA expects minimal immediate effects from the upcoming Norges Bank meeting, viewing it largely as an interim event. However, they suggest that the recent upward repricing of Norges Bank’s terminal rate may have been excessive, especially when compared to the European Central Bank, given the relatively stable FX conditions. BofA maintains a bearish stance on the NOK for the time being.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
Saudi Arabia’s government debt-to-GDP ratio surged from under 2% in 2014 to 31% by 2020, and while the ratio has since stabilized, the Kingdom remains the largest international dollar bond issuer among emerging markets since the beginning of 2022. Despite a current debt-to-GDP ratio of 29.6%, which is considerably lower than the emerging market average of around 70%, Capital Economics warns of potential increases in the debt ratio if oil prices decline more than the Saudi government’s projections.The 2025 Budget from Saudi Arabia indicates that budget deficits will persist, with domestic and international debt issuances as the primary financing method. Earlier this year, the National Debt Management Centre’s 2025 Borrowing Plan was followed by a highly successful $12 billion international bond issuance.Capital Economics’ analysis includes several scenarios based on different oil price levels. The public debt-to-GDP ratio is projected to decrease only if oil prices remain above $80 per barrel. However, under the firm’s central scenario, where oil prices drop from $80 per barrel today to $55 per barrel by 2027-2030, the Saudi public debt-to-GDP ratio could climb to 50% by 2030 and 60% by 2033, shifting the country’s sovereign risk from low to moderate.A more severe scenario, with oil prices falling to $40 per barrel without other changes, could see the public debt-to-GDP ratio nearly double to almost 90% by 2030. Nonetheless, if Saudi Arabia increases oil production to 12.0 million barrels per day, which is 35% higher than current levels, and if oil prices were at $40 per barrel, the debt ratio would approach 80% by the end of the decade.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
Senior officials of EU governments agreed last week to support Bayrou’s plan, which will replace a more front-loaded scheme designed by his predecessor Michel Barnier that was rejected by the French Parliament in December.The plan aims to cut France’s budget deficit to 5.4% of GDP this year from 6.2% in 2024. Barnier wanted to reduce it more sharply in 2025 to 5.0% of GDP. But the end goal — 3% of GDP in 2029 — was the same for both plans and that was the EU condition for approval by the European Commission.”The new plan stays within the requirements of the Commission,” one EU diplomat close to the discussions said.”Ultimately, the most important part is that the Commission takes its job seriously in monitoring the implementation of the plan and enforcing the rules if and when the French budget strays outside of the boundaries set in the plan,” the diplomat said. More
The crypto industry has been buoyed since Trump’s election victory in November, with its proponents hoping he will help usher in a new era of digital asset adoption. Trump, who previously called Bitcoin “a scam”, has pledged that America would be “the crypto capital” of the world once he returned to office.Major crypto exchanges including Coinbase (NASDAQ:COIN) and Binance have said they plan to list Trump’s memecoin token.Some 200 million of the digital tokens have been issued and another 800 million will be released in the next three years, the coin’s website said, adding that the tokens are meant as expressions of support instead of investment opportunities. The website noted that it is “not political” and “has nothing to do” with any political campaign, office, or governmental agency.”My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” Trump wrote in a post on his social media platform Truth Social.The memecoin, $Trump, which started selling for $10 each, traded as high as around $70 on Sunday. It pared back some of these gains after the launch of incoming US First Lady Melania Trump’s coin, $Melania.By 06:29 ET (11:29 GMT), $Trump was trading at $54.25, giving it market value of about $10.8 billion, according to CoinMarketCap.Meanwhile, Bitcoin notched a fresh record high on Monday, extending a recent advance in the price of the world’s most well-known cryptocurrency since Trump’s win. Bitcoin, which began last year trading at $43,000, was exchanging hands at $108,216.50 at 06:19 ET. More
$99 for your first yearFT newspaper delivered Monday-Saturday, plus FT Digital Edition delivered to your device Monday-Saturday.What’s included Weekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysis More
Notifications