Thai Finance Minister Revokes Crypto Exchange Zipmex’s Licenses

June 13, 2024 Bitcoin.com

Bitcoin

The Securities and Exchange Commission (SEC) of Thailand announced Monday that the Thai Minister of Finance has revoked Zipmex’s digital asset exchange and broker licenses effective May 28, 2024. This decision, which followed the Thai SEC Board’s recommendation, was based on concerns over the crypto trading platform’s financial stability, inadequate management structure, and insufficient personnel, […]

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Asia’s Gold Rush: Investors Seek Safe Haven Amid Economic Uncertainty

June 13, 2024 Bitcoin.com

Asia gold market

Demand for gold in Asia is surging despite high prices, as buyers seek a hedge against geopolitical and economic uncertainty. In Japan, there is currently a strong bullish sentiment on gold. Chinese investors, facing currency devaluation, real estate downturn, and trade tensions, have increased their gold purchases by 27% in the first quarter. In Thailand […]

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Ripple Completes Acquisition of Standard Custody & Trust Company

June 12, 2024 Bitcoin.com

Bitcoin

Ripple has completed its acquisition of Standard Custody & Trust Company, a regulated digital asset custodian. This acquisition, announced by Ripple earlier this year, involves a trust company regulated by the New York Department of Financial Services. It broadens Ripple’s portfolio of licenses, which now includes nearly 40 U.S. money transmitter licenses, a Major Payment […]

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UBS Recommends Buying Gold Dips Amid Economic Uncertainty

June 12, 2024 Bitcoin.com

bitcoin.com

The UBS editorial team, comprising financial analysts and economists at UBS, a prominent global financial services firm, recommends purchasing gold during price dips rather than selling. Recently, gold prices fell by over $80 per ounce due to strong U.S. payroll and earnings data, coupled with a rise in the 10-year U.S. Treasury yield and the […]

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Japanese Corporation Metaplanet Acquires More Bitcoin, Stock Price Soars

June 12, 2024 Bitcoin.com

Bitcoin

Metaplanet, a publicly traded corporation on the Tokyo Stock Exchange, has announced an investment of 23.351 bitcoins, with an average purchase price of 10,706,180 yen per BTC, totaling 250 million yen ($1.6 million). The company now holds 141.0727 bitcoins, with an average purchase price of 10,278,391 yen per BTC, amounting to a total aggregated purchase […]

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Gold Production Struggles Despite 2024 Q1 Surge

June 11, 2024 Bitcoin.com

bitcoin.com

The gold mining industry struggles to sustain production growth due to declining new deposits, reports the World Gold Council (WGC). Despite a 4% increase in first-quarter production in 2024, overall growth has plateaued since 2016. In 2023, mine production rose by only 0.5%, following 1.35% in 2022 and 2.7% in 2021, with a decline of […]

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HSBC China Introduces Digital Yuan Services for Corporate Clients

June 11, 2024 Bitcoin.com

Bitcoin

HSBC Bank (China) Ltd. announced on Friday the launch of digital yuan (e-CNY) services for corporate clients, becoming one of the first international banks to provide these services to both corporate and retail customers. The e-CNY, or digital yuan, is China’s central bank digital currency (CBDC) issued by the People’s Bank of China (PBOC). Following […]

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Bitfarms Adopts Defensive Measures Against Riot Platforms’ Takeover

June 10, 2024 Bitcoin.com

Acquisition

Bitfarms Ltd. has adopted a shareholder rights plan to protect the integrity of its ongoing Strategic Alternatives Review Process. This plan was unanimously approved by the Board and involves issuing rights to shareholders to prevent unwanted takeovers. Riot Platforms Inc., which owns 11.62% of Bitfarms, made an unsolicited bid to acquire all shares and plans […]

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30 Countries Seek to Join BRICS, Russian Ambassador to China Says

June 10, 2024 Bitcoin.com

Bitcoin

Russian Ambassador to China Igor Morgulov disclosed that approximately 30 countries are interested in joining the BRICS economic bloc in an opinion piece published by the South China Morning Post last week. BRICS welcomed five new members in January: Egypt, Iran, the United Arab Emirates (UAE), Saudi Arabia, and Ethiopia. Last week, Russian Presidential Spokesman […]

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6 US Banks Face Moody’s Downgrade

June 10, 2024 Bitcoin.com

Banks

Moody’s has initiated a review for potential downgrades of six U.S. regional banks due to their considerable exposure to commercial real estate (CRE) loans. Moody’s Corporation, established in 1909 and recognized as one of the “Big Three” credit rating agencies along with Standard & Poor’s (S&P) and Fitch Ratings, specializes in providing credit ratings, research, […]

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