As Cointelegraph reported, Musk leaned into his penchant for sensational commentary during an interview with U.K. Prime Minister Rishi Sunak at the close of the two-day event. Continue Reading on Cointelegraph More
A mild correction during an uptrend does not signal a trend change. It is generally a healthy sign as it shakes out weak hands. When markets are trending higher, dips are viewed as a buying opportunity, but it is better to wait for the price to find a bottom before buying. Strong support levels could be watched as potential places where buyers step in to arrest the decline.Continue Reading on Cointelegraph More
Hive Digital is transforming 38,000 Nvidia (NASDAQ:NVDA) data center GPUs, previously used for crypto mining, into a cloud service for AI clients. Similarly, Bit Digital is committing $35 million towards new GPUs to serve AI clients, aiming to support its primary mining operation.While the current profitability of Bitcoin mining might make this shift seem questionable, the cyclical nature of the Bitcoin mining industry and its high dependence on Bitcoin’s price necessitates this strategic transformation. To mitigate risk during periods when Bitcoin’s value drops, miners are diversifying by offering IT services to third-party clients.The upcoming Bitcoin halving event in April 2024, which will reduce the reward for mining Bitcoin by half, further accelerates this strategic shift. Selling AI computing power can be highly profitable; Bit Digital anticipates that a new AI computing contract could generate up to $250 million over three years. Hive Digital Technologies claims its new computing venture generates 15 times more revenue per megawatt than Bitcoin.Investors are advised to exercise caution when investing in companies undergoing transformations to tap into emerging technologies. Detailed due diligence is essential, scrutinizing the revenue from noncore businesses and evaluating the feasibility of future growth projections.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
Economist Emin Gurbanov, in an interview with Azernews, associated this decision with the surge in global inflation following the pandemic, viewing it as a necessary measure to manage the prevailing economic conditions. This trend of cutting interest rates is not only observed in Azerbaijan but also across European nations.Despite high inflation rates in the past, Gurbanov predicts a 3-5% drop in the upcoming years, echoing forecasts made by local and global experts from organizations such as the World Bank and International Monetary Fund. He suggests raising interest rates as a means to stimulate the banking sector.Gurbanov remains optimistic about the future of the Azerbaijani manat, dismissing significant inflation threats. To tackle high inflation, central banks often increase interest rates to curb spending. A surge in goods due to enhanced production and imports can lead to price reductions.The Central Bank of Turkiye frequently reduces interest rates to encourage economic growth and promote borrowing and spending. This strategy led to a period of devaluation of the lira, which was eventually stabilized through measures like increasing interest rates, implementing currency controls, or seeking foreign aid.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
According to a report from Bloomberg, this issue stems from conflicting agreements between the parties, with one contract advocating arbitration and another supporting courtroom litigation.Continue Reading on Cointelegraph More
Yet, if you thought this rally was all about the much-discussed spot ETF developments, think again. QCP Research suggests that this latest uptick was driven more by broader macro forces. The unexpected twist came from a reduced Treasury Q1 supply estimate and a dovish stance from the Federal Open Market Committee (FOMC), causing bond yields to plummet. This, in turn, sent risk assets, including , skyward.Source: TradingViewDiving deeper, it remains uncertain whether this signals the beginning of a consistent upward trend in both global equity and bonds. While the rally was certainly a sight to behold for crypto investors, the macro backdrop has not fundamentally shifted. The correction seems more of a response to a highly bearish bond sentiment that perhaps was a tad overblown.As the BTC spot price inches upward, there are notable shifts in the derivatives landscape. Perp funding, term forward, as illustrated in Chart 2, along with implied volatility and risk reversals shown in Chart 3, are hitting or maintaining high levels. Those betting on the surge implied by these derivatives are now eagerly awaiting the green light for the spot ETF.Notably, with the announcement of earnings from giants like and Apple (NASDAQ:AAPL) on the horizon, along with the Non-Farm Payrolls (NFP) data release, the market is poised for potential volatility. These events could very well ignite the already heightened implied volatility and call premium.However, it is essential to exercise caution and reflection. QCP Research emphasizes the critical role of spot ETF approval, signaling a significant upward trajectory for Bitcoin. On the flip side, a drastic move from Gensler could send us spiraling back to sub-32K levels.This article was originally published on U.Today More
In addition to Hongli, other high-profile figures in the financial sector have also come under scrutiny. Liu Lian’ge, the former chairperson of the Bank of China, was arrested on bribery and illegal loan granting charges. Similarly, Li Xiaopeng, ex-leader of Everbright Group, was expelled from the Communist Party and public service for a range of misconducts. These include accepting money and gifts, policy violation, obstructing his own investigation, accepting bribes, possessing illegal stakes in non-listed companies, and misusing his power for personal gain.These investigations form part of a broader initiative by President Xi Jinping to tackle financial risks and foster finance that reflects Chinese characteristics. This drive is seen as both a catalyst for clean governance and a potential tool for political purges. Amidst China’s precarious recovery from the Covid-19 pandemic, hindered by weak consumption and an ongoing housing crisis, the National Financial Work Conference emphasized the need for reinforcing financial supervision.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
The J5 members comprise the criminal intelligence communities from Australia, Canada, the Netherlands, the United Kingdom and the United States, which collaborate in the fight against international and transnational tax crime and money laundering.Continue Reading on Cointelegraph More
