Aurelia Butler

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    South Korea vows to keep markets stable after Yoon’s impeachment

    The ministry said it will actively communicate with the parliament to keep the economy stable, adding that it plans to announce its biannual policy plan before the end of this year.The leader of the main opposition Democratic Party, Lee Jae-myung, called for a National Stability Council for Governance comprising the government and parliament to discuss finance, economy and public livelihoods.The Bank of Korea said in a statement that it would use all available policy instruments in conjunction with the government to respond to and avert any escalation of volatility in financial and foreign exchange markets.The bank said it is necessary to respond more actively to the economic impact than in past presidential impeachment periods due to heightened challenges in external conditions, such as increased uncertainty in the trading environment and intensified global competition in key industries.South Korea’s financial regulator said in a statement that financial markets are expected to stabilise as recent political events are considered temporary shocks, but it will expand market-stabilising funds if needed. More

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    in Economy

    Britain becomes first European nation to join Pacific trade bloc

    $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

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    Trump gives allies Devin Nunes, Richard Grenell key roles

    Nunes, a longtime Trump defender who led the U.S. House of Representatives Intelligence Committee during part of Trump’s first White House term, will remain Truth Social CEO while serving on the advisory panel, Trump said in a post on the platform. As committee chair, Nunes alleged that the FBI had conspired against Trump during its investigation of Russian interference in the 2016 presidential elections in which Trump defeated Democratic nominee Hillary Clinton. “Devin will draw on his experience as former Chairman of the House Intelligence Committee, and his key role in exposing the Russia, Russia, Russia Hoax, to provide me with independent assessments of the effectiveness and propriety of the U.S. Intelligence Community’s activities,” Trump wrote. The President’s Intelligence Advisory Board is a White House panel that offers the president independent assessments of intelligence agencies’ effectiveness and planning.Trump on Saturday also named IBM (NYSE:IBM) executive and former U.S. Department of Homeland Security official Troy Edgar to serve as the department’s deputy secretary, and businessman Bill White to serve as the U.S. ambassador to Belgium.(This story has been refiled to add the word ‘elect’ in paragraph 1) More

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    in Cryptocurrency

    Bitcoin May Hit $850,000, Former Thai Prime Minister Says

    Besides, the former price minister of the country Thaksin Shinawatra has made an ultra-bullish Bitcoin price prediction.He also believes that it is important to raise Bitcoin awareness among the population. Therefore, an order has been issued to set up a sandbox that would allow BTC to be used for payments in Phuket.This initiative came up after the outcome of the recent presidential elections in the U.S. and the expected pivot in cryptocurrency policies in the country in the near future. Some politicians in Thailand believe that the U.S. may use Bitcoin to repay its national debt or part of it to creditors.Besides, Thailand may start deep research and study of stablecoins. The goal is to find out whether it is possible to invest money in the economy without printing more banknotes by issuing coins backed by government bonds. If this is done, Thaksin Shinawatra reckons that the country’s economy will definitely show impressive growth.The Nasdaq 100 index also includes such tech giants as Tesla (NASDAQ:TSLA), Apple (NASDAQ:AAPL), Meta (NASDAQ:META), Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT).MicroStrategy’s market capitalization boost (the key requirement for a company to be added to Nasdaq) has been down its Bitcoin strategy since 2020, when the company started its regular bets on BTC. As of December 2024, Saylor’s company holds 423,650 Bitcoin roughly worth $41.5 billion.Over the past couple of years, MicroStrategy has been issuing senior convertible bonds to raise billions of U.S. dollars to make large new Bitcoin acquisitions.This article was originally published on U.Today More

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    in Economy

    New French PM Bayrou will meet far-right leader Le Pen on Monday

    Bayrou, whose appointment on Friday made him the fourth person to serve as French prime minister this year, will be responsible for steering a 2025 budget through the fractious parliament. It was the same task that ultimately toppled his predecessor Michel Barnier, whose three-month tenure was the shortest in modern French history.Bayrou’s meetings will take place in order of the size of the parties. Le Pen’s Rassemblement National won most seats when President Emmanuel Macron called a snap election in June, but failed to secure a majority. A leftist alliance called the New Popular Front is the largest bloc.”My first job is to be a builder and, failing that, a repairman,” Bayrou told the newspaper.Barnier sought to implement tax increases on corporations and wealthy individuals to cut a deficit that is expected to reach 6% of Gross Domestic Product at the end of this year. He was unable to find a parliamentary majority to back the plan, with Le Pen saying Barnier should have done more to incorporate her party’s concerns.After Barnier sought to pass the bill without a majority vote, lawmakers from the far-right and left backed a no-confidence vote and he resigned. Credit rating agency Moody’s (NYSE:MCO) handed France an unexpected downgrade late on Friday, to “Aa3” from “Aa2,” saying that the next government was unlikely to materially reduce the country’s deficit and that the public finances would be weaker over the next three years than their October baseline scenario. More

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    Musk’s xAI offers free access to Grok-2 AI chatbot

    “As always, Premium and Premium+ users get higher usage limits and will be the first to access any new capabilities in the future,” the artificial intelligence startup said in a blog.xAI has been quietly testing a new version of the Grok-2 model over the past few weeks, it said. More

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    in Cryptocurrency

    Nazara & The Hashgraph Group backed Circle of Games Unveils Next-Gen Web3 Multi-Gaming App in MENA Region

    Circle of Games (COG), the spearhead in global multi-gaming platforms backed by Nazara, has officially debuted in the MENA region with an extraordinary launch event at the renowned Global Game Show held at the Grand Hyatt Exhibition Centre in Dubai. This milestone signals COG’s commitment to redefining the casual gaming experience and bridging the gap between Web2 gamers and Web3 technology.Setting the Stage for Web3 InnovationThe launch event drew an audience of industry pioneers, gamers, and Web3 enthusiasts, with Yat Siu, Chairman of Animoca Brands, as the distinguished chief guest. His keynote address celebrated COG’s innovative integration of casual gaming with blockchain technology, positioning it as a leader in the Web3 gaming ecosystem.The event highlighted COG’s robust portfolio of games, including globally popular titles like Ludo, Fruit Slash, Bubble Shooter, Chess, and 8-Ball Pool (NASDAQ:POOL). With six games already live and an ambitious roadmap to surpass ten titles by Q1 2025, COG is set to become the preferred destination for casual gamers worldwide.Vision and Strategic GrowthThe launch underscored COG’s strategic collaborations with key global corporations and leading strategic partners. These alliances offer access to over 500 million users across 50+ countries, strengthening the company’s competitive edge. By drawing users from an established ecosystem, COG is accelerating its growth and establishing a foundation for long-term success.Attendees witnessed live demonstrations of COG’s state-of-the-art features, including seamless user experiences, multi-chain integrations, and engaging game mechanics. With over 500,000 registered users so far and ambitious goals to reach 25 million users by the end of 2025 and 100 million users by the end of 2027 worldwide, COG is reshaping the future of casual gaming in the Web3 era.Circle of Games, funded by Nazara, has outlined an ambitious regional expansion strategy, with launches slated for the UAE in Q4 2024, followed by Saudi Arabia, Kuwait, and Bahrain in Q1 2025, and Turkey, Egypt, and Morocco in Q2 2025. With projections to achieve 7.5 million users by 2025, 18 million by 2026, and 25 million by 2027, COG is poised to dominate the Web3 gaming landscape in the region.About Circle of GamesCircle of Games is a pioneering multi-gaming platform funded by Nazara, merging casual gaming with Web3 technology. Developed by industry veterans from renowned companies like Zynga (NASDAQ:ZNGA), PlaySimple, MPL, and Junglee Games, the platform boasts a dynamic and ever-growing library of games. By offering universal appeal and seamless user experiences, Circle of Games is setting a new benchmark for gaming innovation.For more information, users can visit www.circleofgames.com or follow Circle of Games on Telegram and Twitter.ContactRabilal ThapaCircle of Gamesrabilal@circleofgames.comThis article was originally published on Chainwire More

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    in Cryptocurrency

    What’s Next for Bitcoin? On-Chain Data Signals What’s Coming

    According to Santiment, despite the price recovery, social media chatter around buying Bitcoin remains surprisingly muted, reflecting a cautious sentiment in the market.This lack of enthusiasm presents a compelling setup for Bitcoin’s next big swing, with on-chain data offering crucial clues for timing potential buy and sell opportunities.According to Santiment, based on the social dominance indicator, the best times to buy are when the crowd is panicked, and the best times to sell are when the crowd is greedy.Per a chart presented by Santiment, it was observed that a high ratio of sell versus buy interest led to a Bitcoin rise on Nov. 26 and Dec. 2, however, the high ratio of buy versus sell interest on Nov. 21 and Dec. 5 saw Bitcoin drop afterward.Currently, the quiet buy calls on social media might signal that the market is not yet in a state of greed. This might suggest that there might still be room for Bitcoin to grow before reaching a peak where selling would be advantageous.Cryptocurrencies received an additional boost as the November consumer price index came in as expected, up 0.3% from October and 2.7% from a year ago. Speculators believe that the figure clears the way for the Federal Reserve to drop interest rates again at its December meeting next week.Bitcoin retested the $102,000 level for the second time this week, the first being on Thursday, and reached intraday highs of $102,650 in today’s trading session.Investors expect to see a continued chop for Bitcoin around the $100,000 level but remain optimistic that its price might double in the year ahead. Bitwise and Bernstein predict a cycle high of $200,000 in 2025. In a 2025 prognosis published Wednesday, Fundstrat’s Tom Lee predicted that Bitcoin would have an “upside to $250,000” next year. Bitcoin’s recent record high is $103,844.This article was originally published on U.Today More