Aurelia Butler

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    in Cryptocurrency

    MicroStrategy Bitcoin Stash Surpasses IBM, Nike in Major Milestone

    Since 2020, MicroStrategy has embarked on an aggressive Bitcoin accumulation strategy, positioning the cryptocurrency as its primary treasury reserve asset. As of Nov. 10, MicroStrategy holds nearly 279,420 Bitcoins acquired at an aggregate purchase price of $11.9 billion and an average purchase price of approximately $42,692 per Bitcoin, including fees and expenses.According to Bloomberg, this Bitcoin cache worth nearly $26 billion is larger than the cash and marketable securities of global industry heavyweights including International Business Machines Corp. (NYSE:IBM), Nike Inc (NYSE:NKE). and Johnson & Johnson. Only roughly a dozen corporations, including Apple Inc (NASDAQ:AAPL). and Alphabet (NASDAQ:GOOGL) Inc., have more assets in their corporate treasuries.MicroStrategy created its performance metric, Bitcoin yield, which analyzes the percentage change in the ratio between its Bitcoin holdings and assumed diluted shares outstanding from one period to the next. The year-to-date yield is currently 26.4%.Saylor chose to invest in Bitcoin in 2020 as a hedge against inflation as MicroStrategy’s revenue growth slowed. The firm first made the purchases with cash from operations but has since turned to leveraging the funds from stock issuance and sale, as well as convertible debt sales, to leverage its purchasing power. It has now emerged as the largest publicly traded corporate holder of Bitcoin.MicroStrategy is doubling down on its Bitcoin strategy, aiming to raise $42 billion over the next three years to buy more Bitcoin.This article was originally published on U.Today More

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    in Economy

    Philippines launches interest rate swaps market to boost bond liquidity

    The start of IRS transactions follows the recognition by the International Swaps and Derivatives Association of the benchmark – the overnight reference rate (ORR) – which the Bankers Association of the Philippines helped establish. IRS, a fixture of developed fixed-income markets, lets parties manage rate risk or bet on the direction of borrowing costs by exchanging fixed and floating interest rate streams.The ORR, to be based on the central bank’s daily reverse repurchase auctions, is expected to provide a better benchmark for pricing loans, now based on yields from thinly traded government securities.”We are excited for PESO IRS to go live to help boost transactions, create a benchmark yield curve, and deepen our capital markets,” central bank Governor Eli Remolona said in a statement. “A benchmark curve will help banks and other lenders price loans at various maturities.”Sixteen banks have committed to be market makers for the ORR-based IRS, ensuring pricing across maturities from one month to 10 years and enhancing interest rate transparency, the central bank said.Bangko Sentral ng Pilipinas also said it was working on adopting global master repurchase agreement contracts that will allow banks to access treasury bonds for repo transactions to boost the government securities repo market. More

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    in Economy

    What to expect from the markets under Trump

    Standard DigitalStandard & FT Weekend Printwasnow $29 per 3 monthsThe new FT Digital Edition: today’s FT, cover to cover on any device. This subscription does not include access to ft.com or the FT App.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 Cryptocurrency

    CoinList to develop the DePIN Market with the First DePIN Collaboration with U2U Network this Q4

    Recently, CoinList conducted a poll asking users, “What category of projects do you want to see most on CoinList?” underscoring growing interest in decentralized infrastructure solutions. Following this, CoinList announced an exciting partnership with U2U Network, a DePIN-focused Layer 1, for an exclusive pre-listing campaign.DePIN – More than just a trendDecentralized Physical Infrastructure Network (DePIN) is emerging as a technology aimed at shifting how infrastructure is managed. By decentralizing services like computing, energy, and telecommunications, DePIN seeks to offer scalability, resilience, and cost-efficiency beyond what centralized systems typically provide.This innovation represents a new phase of technological progress—one that broadens access and creates opportunities for communities historically excluded from economic growth. DePIN’s impact is set to be significantAs of November 2024, the DePIN sector boasts a market capitalization exceeding $33.6 billion, according to CoinGecko. Venture capitalists are increasingly investing in DePIN projects, indicating strong interest in the sector. A 2023 report by Messari values the market potential for DePIN at $2.2 trillion, with projections to reach $3.5 trillion by 2028. To date, DePIN projects have collectively raised over $1 billion in funding, reflecting growing investor confidence in this area.CoinList, the top 1 IDO platform in crypto, acknowledged the potential of DePIN and joined the market with many successful DePIN projects such as Filecoin, NATIX, Koii, peaq, etc. After the recent successful listing period of Peaq, CoinList has just announced its new collaboration with U2U Network, the leading DePIN Layer1 in Asia, for a new pre-listing campaign. Coinlist x U2U Network: U2U Incentivized Mainnet Saga CampaignU2U Network, backed by Kucoin Ventures, Chain Capital, IDG Blockchain, JDI, Cointelegraph, Crypto Assets Japan, and V3V Ventures, stands as the only DePIN project selected for collaboration by CoinList in Q4 2024, a clear sign of its innovation and leadership. As a modular Layer 1 network, U2U Network uses advanced directed acyclic graph (DAG) technology and Ethereum Virtual Machine (EVM) compatibility to provide fast transactions and quick finality.U2U Network aims to address the fragmented nature of the DePIN market, where full integration across applications is rare. Its vision is to create a complete blockchain solution for DePIN. The network’s unique subnet technology allows for the creation of customizable, independent sub-networks that offer scalability and flexibility tailored for DePIN applications. This design provides high performance, strong security, and adaptability, giving developers the tools to build and launch DePINs efficiently while enabling users to connect, contribute, and earn from various DePIN projects.CoinList’s partnership with U2U Network reflects their shared commitment to advancing the DePIN sector. This collaboration is highlighted by the U2U Incentivized Mainnet Saga Pre-listing Campaign, marking a key step in driving the growth and adoption of DePIN technology. With a way to earn with This campaign to get access to $U2U tokens before they hit the market.Users now have an opportunity to earn $U2U tokens by bridging $USDT on Owlto Finance to receive $pUSDT and then staking $pUSDT in the U2U Incentivized Staking Pool (NASDAQ:POOL). A reward pool of 10,000,000 $U2U tokens has been allocated for this initiative.Timeline: 90 days, from 12th Nov 2024 to 10th Feb 2025For more information, users can visit: https://mainnetsaga.u2u.xyz/ Beyond its partnership with CoinList, U2U Network is set to embark on an ambitious campaign with Bitget, a world-leading cryptocurrency exchange and Web3 innovator. This collaboration marks another significant step in U2U Network’s mission to expand its reach and influence within the DePIN ecosystem. Stay connected with U2U Network’s social channels for upcoming details about this exciting venture.The Future Goes OnAs excitement builds across the community from U2U Network’s pre-listing campaigns, the anticipated listing is set to launch in Q4 2024. With its vision to be a comprehensive blockchain solution for DePIN, U2U Network is poised to take the blockchain space by storm, bringing robust innovation and value to its ecosystem and users alike. As the listing approaches, the path forward for U2U Network promises exciting opportunities and impactful contributions to the blockchain industry and beyond.About U2U Network:U2U Network is a modular L1 with subnet technology that perfect fit for DePIN. Their backers include Chain Capital, IDG Capital, Cointelegraph, JDI Ventures, Kucoin Venture, V3V Fund, Web3Port, and others. The project has also entered into partnerships with AWS, Klaytn Foundation, IoTex, Waterdrip Capital, Chain Catcher, etc. KOLs that have invested in U2U Network are KongBTC, Romano, ImNotTheWolf, Crypto Buzz, Antony, etc. Mainnet is ready with more than 180K wallet addresses. DePIN Subnet launched with U2DPN product with more than 155K downloads, 59K contributer nodes, and 9K DAU in 3 months of launching. 80 dApps committed to building on chain (EVM-compatible) range from crypto applications (Defi, Gamefi, SocialFi, etc) to real-world scenarios (Storage, data mining, etc), and over 40 DePIN project signed MOU and under integration, 25 other projects in the pipeline.About the host VTISVietnam Tech Impact Summit 2024 (VTIS) – The Premier Tech Event in Vietnam.VTIS is a hub for transformative innovations, serving as “The gateway to Vietnam’s emerging technology market”. VTIS connects global experts, businesses, investors, and tech enthusiasts across technology sectors. Focusing on 4 themes—Fintech, AI, Blockchain, Gaming, VTIS will unlock market access, partnerships, and investment opportunities for startups. Hosted by SSI and FPT Group and Organized by SSID.Website: Vtis.ioREFERENCE:This article was originally published on Chainwire More

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    in Economy

    Pakistan discusses $7 billion bailout reform agenda with IMF in unusual talks

    ISLAMABAD (Reuters) – Pakistan discussed its $7 billion bailout reform agenda with the International Monetary Fund during an unscheduled staff visit last week, Finance Minister Muhammad Aurangzeb said on Sunday, suggesting no new taxes are to be imposed. The talks in Islamabad came within six weeks of the IMF approving the bailout, an unusual move as it is rare for the fund to discuss reforms ahead of a review of the reform plan under the loan programme. A first review of Pakistan’s reforms is due in the first quarter of 2025.”We discussed reforms in taxation, energy sector, privatisation of loss-making state-owned enterprises (SOEs) and public finance,” Aurangzeb said in a recorded video statement broadcast by state-run television.After wrapping up the visit, the IMF had said it was encouraged by Islamabad’s reaffirmed commitment to the economic reforms under the Extended Fund Facility its board had approved in September to reduce vulnerabilities.The mission did not state the weaknesses, but sources in Pakistan’s finance ministry have said some major lapses prompted the IMF’s visit. Among these were a shortfall of nearly 190 billion rupees ($685 million) in revenue collection during the first quarter of the current fiscal year, the sources said.The period also saw an external financing gap of $2.5 billion, while Pakistan failed in the bid to sell its national airline.It had prompted fears that Pakistan might need to impose new taxes to bridge the shortfall.But Aurangzeb said the shortfall will be met only with enforcement to get people to pay their taxes, implying there would not be any new revenue measures.”We are going to be very firm on compliance and enforcement,” he said, adding that al the sectors will have to play their role in contributing towards the country’s economy. The IMF said both sides agreed on the need to continue prudent fiscal and monetary policies, and to mobilise revenue from untapped tax bases. Pakistan’s $350 billion economy has struggled for decades with boom-and-bust cycles, needing 23 IMF bailouts since 1958. More

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    in Cryptocurrency

    Bitcoin (BTC) Top Is In? What’s Happening

    At the moment Bitcoin is trading slightly above $91,000, setting new annual records and igniting a general uptrend in optimism. The overlay of the Bitcoin price and meme coin volume, however, points to a cautious approach. The magnitude of recent meme coin trading volume spikes is comparable to those of previous events that preceded Bitcoin market peaks.The price chart for Bitcoin shows that it has risen parabolically in recent weeks. The asset may be due for a cooling-off period as indicated by the Relative Strength Index (RSI), which is circling close to overbought levels. High levels of activity are also evident in volume trends, which may indicate a shift from accumulation to distribution among larger holders. Even though it would be easy to think that this time is different, it is impossible to overlook the convergence of on-chain signals and historical data.After surpassing crucial resistance levels at $70,000 and $80,000, Bitcoin is currently up against psychological resistance at $100,000. The strength of selling pressure may determine whether we witness a retracement to support levels of $78,000 or even $68,000 if meme coin activity signals another Bitcoin peak.The behavior of the cryptocurrency market is still cyclical, and trends like these are frequently significant. In order to determine whether Bitcoin’s current rally has more room to grow or whether this spike in meme coin mania is actually an indication of an impending reversal, investors should monitor trading volume dynamics, on-chain activity and macroeconomic factors.This article was originally published on U.Today More

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    in Economy

    Most Gulf markets fall on Fed rate cut concerns

    (Reuters) – Most Gulf stock markets fell on Sunday after U.S economic data and comments from Federal Reserve officials pointed to a slower pace of interest-rate cuts.Investors increased bets on the Fed leaving interest rates unchanged at its December meeting and dialled back expectations for easing in 2025.The Fed’s decisions have a significant impact on monetary policy in the Gulf as most of the region’s currencies are pegged to the U.S. dollar.The Qatari benchmark index slipped 0.4%, with almost all of its constituents falling, led by the finance, communication and energy sectors.Qatar National Bank, the region’s largest lender, lost 1.4% and Qatar Navigation was down 1.1%.Saudi Arabia’s benchmark index snapped three sessions of losses, edging up 0.2% helped by gains in the IT, utilities, real estate, industry, healthcare and insurance sectors. Medgulf (TADAWUL:8030) rose 10% for its biggest daily gain in more than six months. The insurer said in a statement to the Saudi Exchange that it had received a circular from the Insurance Authority on a new mechanism for allocating reinsurance premiums to the local market.All bar two insurance stocks closed higher with Al Rajhi Company For Cooperative Insurance up 3.9%, and Saudi Reinsurance gaining 6.9%.Saudi Re said in a statement that the new mechanism would help increase Saudi reinsurance revenue by more then 5% from 2023.Outside the Gulf, Egypt’s blue-chip index reversed the previous session’s gain with a 0.7% fall, with most sectors in the red. Telecom (BCBA:TECO2m) Egypt lost 2.6% after it reported a 13% decrease in quarterly net profit on Thursday. However, Juhayna Food gained 3.7% after it posted around a 200% jump in third quarter net profit. SAUDI ARABIA rose 0.2% to 11,812 KUWAIT was up 0.2% to 7,849 QATAR lost 0.4% to 10,411 EGYPT dropped 0.7% to 31,252 BAHRAIN ended flat to 2,053 OMAN was down 0.4% to 4,626 More

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    in Economy

    Finding the money to make Europe great again

    $75 per monthComplete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.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 edition More