Story Highlights Korean stock market crash erased $270 billion as KOSPI plunged 7.24% in one session. The crash followed a 13% oil price surge as fears grew that Iran could block the Strait of Hormuz. Despite this crash Bitcoin price has quickly recover hitting $70,000 before settling near $67K. Today, the Korean stock market crashed
Key takeaways The economy is influenced by five major forces, including debt, wealth gaps, and international conflicts. Government finances are similar to those of companies but with the unique ability to print money. The US government is projected to run a 40% deficit, highlighting fiscal challenges. A significant debt rollover challenge is looming for the
Leading stablecoin issuer Tether has secured a sign-off from Deloitte for the first reserve report tied to its new U.S.-regulated stablecoin, after years struggling in its relationships with major accounting firms. Deloitte reviewed a report prepared by Anchorage Digital Bank, which issued the company’s new USAT token. In a letter released Monday, the accounting firm
Bitfinex Securities said on Monday it will resume issuing tokenized bonds for Luxembourg-based securitization fund ALTERNATIVE, with future sales expected to exceed $10 million. The USDt-denominated bonds will be issued and settled on the Liquid Network, a Bitcoin sidechain, with fundraising, coupon payments and principal repayments executed fully onchain. The move follows four prior tokenized
Key takeaways Bitcoin’s narrative as digital gold remains significant and enduring. A declining dollar is expected to be bullish for Bitcoin in the medium term. The success of the Bitcoin ETF was driven by pent-up demand and improved investor access. Bitcoin and Ethereum are now considered established assets in asset allocation models. The launch of
PayPay Corp. and its majority owner, SoftBank Group Corp., are targeting up to $1.1 billion in a US IPO, positioning the deal as a potential record-setting American listing for a Japanese firm. The Tokyo-based fintech firm and an affiliate of SoftBank Vision Fund II are together selling 55 million ADRs at $17 to $20 each,
Palantir’s billionaire co-founder Peter Thiel on Monday filed with the SEC to offload 2 million shares in the data analytics firm for $280 million. Thiel helped establish the company in 2003 alongside Alex Karp, Joe Lonsdale, Stephen Cohen, and Nathan Gettings. He contributed $30 million in seed capital, drawing inspiration from fraud-detection systems he developed
Australia is home to just 26 million people, but OKX is betting the country could become one of the most important digital finance markets in the developed world if policymakers move fast enough. A new report backed by the exchange estimates that Australia could unlock A$24 billion ($17 billion) in annual economic gains from tokenized
TD Securities, a major Canadian investment bank with operations across North America, says tokenization may be approaching an institutional turning point following the New York Stock Exchange’s push into tokenized equities. In recent commentary, TD Securities Reid Noch, vice president for electronic trading, said tokenization is beginning to carry real implications for market structure, pointing
PayPay, a SoftBank Corp-backed payments company that owns a 40% stake in Binance Japan, is seeking to raise as much as $1.1 billion in a U.S. initial public offering, Reuters reported Monday. The Tokyo-based company and a selling shareholder plan to offer 55 million American depositary shares priced between $17 and $20 each, according to