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24/7 News

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7/28
05:59
Bybit has listed the MINIMAXUSDT Perpetual Contract, with trading now open and offering up to 25x leverage. The contract is also available for trading via Futures bots.
05:59
Crypto exchange Bybit has listed the TENCENTUSDT Perpetual Contract. Trading is now open with up to 25x leverage.
05:59
Crypto exchange Bybit has listed the GIGADEVICEUSDT perpetual contract, offering up to 25x leverage. Trading for the contract is now open.
05:59
The cryptocurrency exchange Bybit has announced the launch of ZHIPUUSDT perpetual contracts. Trading for these contracts is now open, with leverage of up to 25x available.
05:55
Global stocks fell to a one-month low on Tuesday, driven by a significant sell-off in chipmakers due to concerns over Chinese competition and the funding of the AI boom. Rising odds of a U.S. interest rate hike as early as this week further dampened market sentiment.

The MSCI All Country World Price index dropped 0.5% to its lowest level since June 29. South Korea's KOSPI index plunged over 10%, triggering a circuit breaker and heading for its largest monthly fall on record. Shares of major chipmakers like SK Hynix and Samsung Electronics lost over 12%. Nvidia shares also shed 5% overnight after reports of the company discussing $250 billion in financing guarantees for OpenAI. Additionally, ASML shares fell 8.5% after reports that China began manufacturing domestically developed immersion deep ultraviolet lithography machines.
05:55
Macro investor Raoul Pal stated on Monday that Bitcoin (BTC) is primarily driven by global liquidity, not daily news or earnings. He cited an 87% correlation between Bitcoin and global liquidity, and a 97% correlation for the Nasdaq Composite index.

Pal, CEO of Real Vision, explained that these assets track the amount of money in the system. He described Bitcoin as a "young, volatile, emotional" asset that amplifies liquidity moves, adding that its current "cold" performance does not mean "something is broken," but rather that it is behaving as expected. Pal attributes global liquidity to currency debasement and expanding government debt, which he says can be projected years in advance.
05:55
Tom Lee, co-founder of market research firm Fundstrat, believes Ethereum (ETH) could eventually reach $250,000. Lee attributes this potential to the dominance of artificial intelligence and advanced computing software in internet traffic, envisioning Ethereum as the primary global currency for machines to conduct instant payments.

He also highlights the increasing use of Ethereum by major financial companies, citing examples such as BlackRock launching its first tokenized fund on Ethereum, Robinhood Chain's full compatibility with Ethereum, and JPMorgan Chase launching multiple tokenized money market funds on the blockchain. Lee, who is also chairman of Bitmine Immersion Technologies (a company holding nearly 5.8 million ETH), suggests that agentic AI transactions and Wall Street adoption will usher Ethereum into its "2.0 era," leading to a much larger total addressable market than inve
05:48
Bank of America reports that lower-income households in the U.S. are now showing slightly stronger card spending growth compared to higher-income households. This shift marks the end of the K-shaped spending trend, where higher earners saw disproportionately stronger spending. The bank attributes this change to stronger labor income, lower fuel costs, and favorable year-over-year comparisons, indicating an improvement in consumer spending among lower-income Americans.
05:48
Global chip stocks extended losses across Asia, following a sharp selloff in the U.S. The downturn is fueled by concerns over AI spending and China's technological progress. South Korea's Kospi index plunged 10%, triggering two trading halts, while Japan's Nikkei index fell 4%. U.S. chip stocks, including Micron, Super Micro, Intel, and Nvidia, also remained under pressure in premarket trading.
05:47
The Kremlin stated that Ukraine was responsible for multiple attacks. Russia accused Ukraine of blowing up Germany's Nord Stream gas pipelines, damaging Kazakhstan by attacking the Caspian Pipeline Consortium (CPC) pipeline infrastructure, and recently attacking an Iranian ship.
05:45
Operations at Libya's Mellitah Oil & Gas Complex have been halted due to civil unrest, after protesters stormed the facility. The shutdown has disrupted key gas supply lines, prompting warnings of a potential regional blackout and raising concerns over broader energy supply disruptions. Mellitah is a critical hub for processing and transporting Libya's oil and natural gas.
05:42
AI is rapidly replacing customer service workers, with companies including Commonwealth Bank, Microsoft, Uber, and Hyatt automating their chat and call centers. Bloomberg reports thousands of jobs have already been eliminated, including Microsoft cutting its support workforce from 50,000 to 40,000. Analysts project AI will impact nearly half of customer service roles by 2030, with outsourced markets facing the largest losses.
05:41
Singapore's central bank, the Monetary Authority of Singapore (MAS), has warned that the uncertainty surrounding the sustainability of massive AI investments poses a key risk to global growth and financial markets. MAS also cited the threat of a prolonged re-escalation of the war in the Middle East as another significant concern for the global economy.
05:41
Paul Markham of GAM stated that the global selloff in chip stocks is not yet a buying opportunity. He believes that investor positioning in chip stocks remains too crowded.
05:36
The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have established the AI-Driven Cyber and Technology Risk Taskforce (ACT). This industry-wide initiative aims to strengthen the financial sector's collective cyber and technology resilience against emerging risks posed by frontier artificial intelligence models. The taskforce includes members from MAS, ABS, DBS, OCBC, UOB, and the Singapore Exchange (SGX).
05:35
Fund managers including Invesco Ltd. and Rathbones Asset Management Ltd. have reduced their holdings in UK government debt (gilts) this year. The decision stems from growing concerns over inflation and political instability in the UK, prompting these firms to seek investment opportunities elsewhere.
05:35
Meta priced a $12.5 billion offering for its data center project at a higher interest rate than a similar deal last year. This reflects a broader trend as AI companies increasingly issue new debt, driving up financing costs for AI data centers.

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