Aurelia Butler

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  • 125 Shares129 Views

    in Economy

    ECB cuts interest rates for first time in five years

    Standard DigitalWeekend Print + Standard Digitalwasnow $85 per monthBilled Quarterly at $199. Complete digital access plus the FT newspaper delivered Monday-Saturday.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More

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    in Economy

    ECB slashes rates but says it will not “pre-commit” to future policy path

    As expected, the ECB cut its benchmark deposit rate by a quarter percentage point to 3.75% from an all-time high of 4%. The interest rate on its main refinancing operations was also reduced by 25 basis points to 4.25%, while the rate of its marginal lending facility was lowered similarly to 4.50%.But uncertainty hovered around how officials will approach future potential reductions later in 2024, with the ECB saying that it is “not pre-committing to a particular rate path.”Instead, the central bank said it will keep policy rates “sufficiently restrictive for as long as necessary” to ensure that price gains reliably cool to its 2% medium-term target. It added that the rate-setting Governing Council will stay “data-dependent” and take a “meeting-by-meeting” approach to rate decisions.In the build-up to the gathering, several officials strongly suggested that the ECB would bring down rates, citing signs of abating inflation in the euro zone currency area.ECB President Christine Lagarde said in May she believes price pressures are “under control,” particularly as the impact of an energy crisis and supply chain constraints fades. Philip Lane, the central bank’s Chief Economist, also told the Financial Times in an interview that “barring major surprises” officials see enough in recent data “to remove the top level of restriction.”The comments were echoed in the ECB’s latest assessment of inflation. The ECB said it is “now appropriate” to moderate the degree of policy restriction after holding rates steady for nine months because of a “markedly” improved inflation outlook.”Underlying inflation has also eased, reinforcing the signs that price pressures have weakened, and inflation expectations have declined at all horizons,” the ECB said in a statement.However, it flagged that inflation is likely to stay above 2% “well into next year” due to “domestic price pressures” fueled by elevated wage growth. The ECB now expects headline inflation to average 2.5% in 2024 and 2.2% in 2025, before decelerating below its objective to 1.9% in 2026.The ECB has become one of the biggest central banks yet to cut interest rates following a period of policy tightening around the world that was aimed at quelling runaway prices.Officials at the Federal Reserve have indicated that they would like to see more evidence of easing inflation in the U.S. before backing any cuts, but labor market data points this week have bolstered hopes the Fed could roll out a reduction as soon as September.Analysts at ING said in a note following the announcement that the ECB’s decision was “unique” as it was “one of the very few times” where it made a policy turn before the Fed. “What the rate cut does show is change within the ECB itself: the ECB has regained confidence in its own forecasting skills and takes enough comfort from the benign inflation forecast from the second half of 2025 onwards to justify cutting rates,” the ING analysts said. More

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    in Economy

    Weekly initial jobless claims rise to 229,000

    Initial jobless claims in the U.S. climbed to 229,000 in the week ended on June 1, up from an upwardly revised total of 221,000 in the prior week. Economists had seen the figure at 220,000.The four-week moving average, which attempts to account for variances in the weekly figure, edged down to 222,250 from the revised higher 223,000.The U.S. labor market has shown signs of cooling of late, with data released on Wednesday indicating that private payrolls increased at a slower-than-anticipated rate in May, following on from a soft jobs openings print the day before.Friday sees the release of the widely-watched monthly payrolls report, with economists expecting the U.S. economy to have added 185,000 jobs, a modest uptick from the prior month.Investors had been worried that an overly strong economy might prevent the Federal Reserve from lowering rates this year at all, but these concerns appear to have been at least partly alleviated, with September the favored month for the start of the rate-cutting cycle. More

  • 75 Shares179 Views

    in Cryptocurrency

    BetFury Announces $20 Million Cryptodrop Event

    The BetFury crypto ecosystem announced a great Cryptodrop. The prize pool of $20,000,000 will be distributed from the end of Q3 to the beginning of Q4. This initiative offers participants the chance to earn cryptocurrencies by completing various tasks. The Cryptodrop pool consists of top-tier crypto and BFG tokens, which have strengthened their position after burning 33% of the total supply and locking 48% of circulation.About the Cryptodrop Cryptodrop involves distributing tokens to users who complete specific tasks. Unlike other projects, BetFury’s Cryptodrop features tokens with established market value. Participants can earn more crypto by accumulating points through various activities.Key Features of BetFury Cryptodrop:Funding and TransparencyBetFury Cryptodrop consists of crypto, which the project has accumulated over a certain period, and 350,000,000 BFG, which is transferred from the Community wallet allocated by the team. Thus, every active Cryptodrop participant has a chance of earning currencies like USDT, ETH, BTC, and BFG. Since the project has been developing in the industry for over four years, it can afford the Cryptodrop with the $20 million pool. Moreover, BetFury has located this round amount on a public address for total transparency.About the Growing BFG tokenBetFury’s Cryptodrop is also an investment in the future prosperity of its native token. BFG has already demonstrated price growth – by 40+% over the last month, according to CoinMarketCap statistics. It’s explained by upgrading a deflationary strategy, which provides for BFG buybacks, locks, monthly burnings, and permanent support for active holders. In addition to transferring 100% of revenue from iGaming activities and crypto functionality to BFG utilities, the BetFury team locked up one billion BFG for 4.8 years. These moves demonstrate the platform’s strong desire to evolve its product and the native token.How to Participate in BetFury Cryptodrop?To take part in the BetFury Cryptodrop, the user must go through a few simple steps:BFG FarmBFG Farm is a unique feature that allows users with the potential to earn free crypto. Users can get up to 96,000 BFG daily depending on the BFG Farm level. These levels can be upgraded by collecting Wager points. To claim crypto, the participant should invite two or more friends and connect to a Twitter account for daily shares.Play Fury Game – Get USDT, BFG & Game Points This 2D runner is the best entertainment for the chance to earn real crypto with gameplay that sets it apart from ordinary tap games. Playing as a raccoon, the participant can collect USDT, BFG, game points, and energy recovery badges The duration of each round in Fury Game is determined by energy that can be pumped up, increasing game levels.Collect Plenty of Points in QuestsQuests are tasks of several types for collecting various points. They are similar to Notcoin Quests but offer more opportunities due to the extensive platform functionality. There are currently four types of Quests:Collecting points allows participants to spin different Cryptodrop Wheels. The Social Wheel activates after collecting 9,000 Social and Referral points, while the BetFury Wheel activates after collecting 3,000 Wager, Earn, or Trading points. These Wheels offer additional points and real currency rewards up to 100,000 BFG. The Social Wheel is for one-time use, whereas the BetFury Wheel can be spun unlimited times, with the tenth spin being a Super Spin that increases all rewards and offers a main prize of up to 1,000,000 BFG.Referral ProgramThe Cryptodrop event includes a Referral Program where participants can earn rewards based on their referrals’ activities:ConclusionBetFury Cryptodrop is a significant crypto event combining unique reward mechanisms and opportunities for both beginners and experienced users. By participating and accumulating points, users have the chance to share in the $20,000,000 prize pool.BetFury is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.ContactAlisia [email protected] article was originally published on Chainwire More

  • 138 Shares189 Views

    in Cryptocurrency

    Global rules needed to spur blockchain trading of assets, report says

    (Reuters) – Trading stocks and bonds on blockchains at scale will remain a dream unless a global standard for cross-border activity is established that allows assets to move seamlessly across blockchains, according to a report published on Thursday.So-called tokenised assets – which represent the underlying assets – are exchanged on distributed ledger technology (DLT) that are also used for cryptocurrencies. Banks hope tokenised asset trading takes off as a way to make trading faster, cheaper and more transparent.However, a lack of cohesive global regulation is keeping assets from moving smoothly across different blockchains. Industry executives at an event in Amsterdam this week said progress on tokenising assets was moving slowly, and take-up so far is limited.Client and compliance requirements vary too widely across the globe for a single, fixed solution to meet everyone’s needs, said Georgios Vlachos, co-founder of blockchain interoperability firm Axelar, which co-authored the report.”At the current state of things, different regulatory jurisdictions are progressing at different pace and have different focus areas,” Vlachos said.The report on blockchain-based trading was written by the Axelar Foundation and digital assets risk assessment firm Metrika, with contributions from Citi, Deutsche Bank, Mastercard (NYSE:MA) and Northern Trust (NASDAQ:NTRS).Deutsche Bank said in the report that it was essential to have industry-accepted approaches for risk assessments needed to facilitate adoption. However, “standards developed too prematurely can deprive the industry of better developed solutions or become irrelevant,” said Boon Hiong Chan, Deutsche Bank’s Asia Pacific head of Securities & Technology Advocacy.Northern Trust expects that by 2030 the size of its digital assets market will grow to between 5% and 10% of the $13 trillion of assets it holds under custody.Currently about $85.12 billion worth of assets including government securities, fiat-back stablecoins and commodities are tokenised, according to data from 21.co dashboard on Dune Analytics. More

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    in Cryptocurrency

    Robinhood to acquire Bitstamp for $200 million amid crypto push; shares climb

    HOOD stock rose 3% in premarket trading.The move comes as Robinhood, the 11-year-old trading app well-known among retail investors, aims to grow into a comprehensive financial services provider by broadening its product range. By acquiring Bitstamp, which was established in 2011 and holds 50 active licenses and registrations worldwide, Robinhood is set to compete directly with major industry players like Binance and Coinbase (NASDAQ:COIN).Bitstamp is expected to drive the expansion of Robinhood Crypto and will become its first institutional business. Bitstamp’s core spot exchange, which is particularly popular in Europe and Asia, offers over 85 tradable assets and includes services such as staking and lending.“The acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp’s highly trusted and long standing global exchange has shown resilience through market cycles,” said Johann Kerbrat, General Manager of Robinhood Crypto. “Through this strategic combination, we are better positioned to expand our footprint outside of the US and welcome institutional customers to Robinhood.”The deal is anticipated to close in the first half of 2025, amid rapid growth in Robinhood’s crypto business as well as regulatory challenges in the U.S. Robinhood’s spokesperson emphasized that the company will continue to engage with regulators as it moves forward with the acquisition. More

  • 88 Shares149 Views

    in Cryptocurrency

    HashKey Global’s trading volume surpasses Coinbase International

    HashKey Global May 2024 Monthly Report released, the daily trading volume reached 348 million USD, representing a month-over-month increase of 173%. Launchpool’s first-phase yield rate was as high as 37.68%, which made a notable impact on the market.Launchpool Introduces High APR to the MarketThe first Launchpool surprised the market with a high APR, attracting over 2,157 users who locked assets on the first day. The total amount pledged reached USD 109 million, with an APR of 37.68% during the first settlement period. The highest single-user earnings were 6,500 ZK, making it the most profitable launchpool in the market that month.High Trading volume & High KYC Verification RateHashKey Global experienced a significant 173% increase in daily trading volume, reaching USD 348 million, with a cumulative asset balance of USD 105 million, up 338% month-over-month.In May, 2,763 users participated in mining events, and 1,251 users had a monthly trading volume exceeding USD 5 million. The platform also gained 28,500 new registered users, with 12,810 new KYC applications submitted.About HashKey GlobalHashKey Global is one of the flagship global digital asset exchanges under HashKey Group, offering licensed digital asset trading services to users worldwide. HashKey Global has obtained a license from the Bermuda Monetary Authority with the potential to provide mainstream trading and service products such as LaunchPad, contracts, leverage, and staking.For more details, users can visit global.hashkey.comUsers can us on Twitter, Discord and Instagram.Disclaimer: In compliance with local regulations, HashKey Global does not offer services to individuals in the United States, mainland China, Hong Kong, and certain restricted countries or regions. This material is for informational purposes only and is not intended to be distributed or relied upon by individuals in Hong Kong. This material does not constitute an offer to buy or sell any financial products, nor should it be considered as investment advice. Investing in digital assets involves risks. Investors should not make investment decisions based solely on this press release, but should carefully evaluate their suitability to participate in any investment products based on their own investment experience, investment objectives, financial situation, and other relevant conditions.ContactSenior PR ManagerLuna WangHashKey [email protected] article was originally published on Chainwire More

  • 225 Shares99 Views

    in Cryptocurrency

    Mythos Research Publishes Report on Aethir, a Decentralized GPU Platform With $24M Worth of GPUs Across 25 Locations

    Mythos Research, a research and advisory firm, has released an in-depth report analyzing Aethir, a pioneering decentralized platform for GPU-as-a-Service (GPUaaS). Published in collaboration with CMC Research, this comprehensive study provides invaluable insights into Aethir’s innovative solutions, technology, strategic partnerships, and market positioning within the rapidly evolving Decentralized Physical Infrastructure Networks (DePIN).The report explores Aethir’s vision of bridging the gap between GPU resource providers and consumers across industries such as artificial intelligence (AI), gaming, and virtualized computing. With $24 million worth of rendering equipment spread across 25 locations in 13 countries, this infrastructure positions Aethir as a marketplace for aggregating GPU resources from enterprises, data centers, miners, and retail GPU providers.By leveraging a diverse network encompassing enterprises, data centers, miners, and retail GPU contributors, Aethir enables seamless pooling and efficient utilization of distributed computing resources. The report provides a comprehensive understanding of Aethir’s disruptive solutions and the significant market opportunities within the decentralized infrastructure landscape. About CoinMarketCapCoinMarketCap is the world’s most trusted and accurate source for cryptocurrency data, comprehensively tracking over 2.4 million cryptocurrencies across 770+ exchanges. As the ‘Home of Crypto,’ its mission is to fuel innovation and make this revolutionary asset class more accessible for all.About Mythos Research Mythos Research is a leading tokenomics advisory firm dedicated to empowering blockchain projects with comprehensive analysis and tailored solutions. Their in-depth report on Aethir underscores their commitment to driving innovation within the dynamic Web3 industry.ContactCoinMarketCap Content/ResearchDavier [email protected] article was originally published on Chainwire More