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News on Medial
Euro rebounds as French bonds stabilize; bitcoin jumps past $100,000
Livemint
·
8m ago
Medial
The euro rallied as French government bonds stabilized following the collapse of France's government. Bitcoin hit a record high of $103,649 on expectations of a crypto-friendly regulatory environment under President-elect Donald Trump. The dollar dropped after higher-than-expected US jobless claims. The focus is now on the US nonfarm payrolls report, which is anticipated to show 200,000 jobs added in November. The euro was on track for a weekly loss, its fourth in the last five weeks, and the European Central Bank is expected to cut interest rates. The Japanese yen rose on speculation about a potential interest rate hike by the Bank of Japan. The South Korean won dipped slightly after market stabilization funds were activated following political unrest. The dollar index fell after weak US jobless claims data.
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HDFC Bank raises ₹7,425 crore via bonds to fund infra, housing projects
Livemint
·
1y ago
Medial
HDFC Bank has raised ₹7,425 crore through non-convertible bonds to finance infrastructure and affordable housing projects, as per a regulatory filing. The bank issued 742,500 bonds with a face value of ₹100,000 each. This move highlights HDFC Bank's commitment to supporting the development of crucial sectors in India.
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Bitcoin more than doubles in 2024 on spot ETF approval, Trump euphoria
Economic Times
·
7m ago
Medial
Bitcoin more than doubled in 2024, reaching $100,000, driven by US approval of spot price ETFs and optimism around Trump’s return to the White House. This surge contributed to the cryptocurrency market’s value reaching $3.5 trillion. Analysts forecast further gains, with predictions of Bitcoin hitting $200,000 by 2025. Institutional adoption is growing, with companies like MicroStrategy significantly increasing their Bitcoin holdings, and anticipation that Bitcoin could replace gold as a “store of value.”
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Asian Stocks Eye Gains as Wall Street Awaits Data: Markets Wrap
Livemint
·
8m ago
Medial
Asian stocks are expected to rise following a rally in the largest technology companies on Wall Street. The S&P 500 and Nasdaq 100 both reached record highs, driven by gains in tech stocks like Tesla and Apple. The dollar also ended its losing streak after Donald Trump's warning to BRICS nations. French bonds and stocks faced pressure, while the euro fell amid political turmoil in France. Traders are anticipating economic data and remarks from Federal Reserve speakers that will impact interest rate expectations. This week's highlight is the upcoming payrolls report on Friday. On the trade front, the US has unveiled new restrictions on China's access to vital components for chips and AI.
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ITI Ltd share price jumps nearly 9% on bagging order from Bihar govt worth Rs 300 crore
Money Control
·
11m ago
Medial
ITI Ltd saw a nearly 9% increase in its share price as it secured a Rs 300 crore order from the Bihar government. The order is for the supply and installation of 100,000 solar street light systems to the Bihar state government. This order comes in addition to the 80,000 solar street light systems the company is already executing in Bihar. ITI Ltd is a telecom manufacturing company and has been manufacturing solar panels for the past six years.
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Cryptoverse: Bitcoin's bear market hits newcomers hardest
Economic Times
·
4m ago
Medial
Bitcoin's bear market has hit new investors hard, particularly those who entered during its rally past $100,000 or used leverage for investments. Following a significant sell-off influenced by global stock market dynamics, Bitcoin's value dropped from a record high of $109,071 in January to around $80,000. Analysts observe significant losses among new buyers and leveraged traders, with crypto-related investment products experiencing continuous outflows. Market volatility is high, suggesting challenging times ahead for Bitcoin investors.
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GameStop shares plunge as company eyes Bitcoin with new bond offering — investors left scratching heads
Economic Times
·
1m ago
Medial
GameStop shares dropped significantly after announcing plans to raise $1.75 billion through convertible bonds to finance general business needs, including potential bitcoin investments. The company plans to follow MicroStrategy's strategy by purchasing bitcoins as a hedge against economic risks. Recently, GameStop acquired 4,710 bitcoins worth $500 million. However, analyst Michael Pachter doubts the effectiveness of this strategy, labeling it inconsistent as GameStop's stocks already exceed its cash value by 2.4 times.
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China Property Flare-Ups Resurface as Crisis Enters Fifth Year
Livemint
·
7m ago
Medial
China's property debt crisis continues as distressed developers struggle to repay debt amid a slump in home sales. This has led to distressed levels of their dollar bonds and a decrease in debt issuance. Recent concerns have been raised over the liquidity crisis and default risk for China Vanke Co., a major developer, and other industry peers. The distress in the housing sector, once a powerful growth engine, is adding to worries about the property market in the world's second-largest economy. Despite government efforts to stabilize the market, experts predict it may take another one or two years for the sector to recover.
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Bitcoin surges above $100,000
Economic Times
·
8m ago
Medial
Bitcoin has reached a significant milestone by surpassing $100,000, driven by expectations of cryptocurrency-friendly regulations under the Trump administration. The price surge since Trump's election win has seen a 45% increase, with institutional adoption and increased volume on exchange platforms. This milestone solidifies Bitcoin's place as a leading financial innovation and demonstrates its growing acceptance as a legitimate asset class. The cryptocurrency's resilience in the face of political and regulatory challenges indicates its staying power and suggests wider integration into various financial sectors in the future.
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Trump's Crypto Embrace Could Be a Disaster for Bitcoin
Wired
·
1y ago
Medial
The alliance between former President Donald Trump and the crypto world seems unlikely, considering his past skepticism and lack of understanding about cryptocurrencies. However, at the Bitcoin 2024 conference, Trump claimed credit for bitcoin's rise and promised to make the US the "crypto capital of the planet." His proposals, such as creating a bitcoin reserve and pardoning Silk Road owner Ross Ulbricht, go against the fundamental principles of decentralization and government non-interference that the blockchain represents. The crypto community's support for Trump may be misguided, as his regulatory approach could ultimately harm the industry's long-term stability.
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Are We Really Doing the Bitcoin Hype Cycle Again?
Gizmodo
·
1y ago
Medial
The article discusses the renewed interest in cryptocurrency following the crash of 2022. Bitcoin has reached its highest price since 2021, and there is excitement over the SEC's approval of spot Bitcoin ETFs. However, the author warns against blindly following the crypto hype cycle, citing past instances of heartbreak for investors. They argue that crypto is a Ponzi scheme and highlight its association with illegal activities. The article also questions the timing of investments, as timing the market can be challenging. Overall, the author advises caution and emphasizes the potential risks involved in crypto investments.
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