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Cryptocurrency News

Markets, Cryptos and Culture

March 2, 2026

Australia and World

A.I Newsfeed

The fast-moving conflict across the Middle East is heightening investor anxiety and strengthening the case for safe-haven trades such as Treasuries, gold and the Swiss franc, while oil prices are set to soar.

Macro traders said all eyes will be on energy markets when trading fully re-opens on Monday, with early indications of volatility also expected when the US dollar and other currencies start to trade in Australia. The possibility of prolonged turmoil in the Middle East and the ripple effects of higher oil prices are giving money managers fresh reasons to sell equities and shift into safety.

Futures are pointing to a fall of 0.2 per cent at the open for the Australian sharemarket, but this was set before the US attack on Iran on Saturday (Australian time). The Australian dollar was trading at US70.65¢ at 5.26am AEDT.

Traders will be adopting the strategy of “haven first, ask questions later,” according to John Briggs, head of US rates strategy at Natixis. “The scale of the attacks and Iranian retaliation is larger than what the market expected,” he said.

Briggs said Treasuries are likely to extend moves from Friday, when short-term yields sank to levels last seen in 2022. Others are watching energy chokepoints. Roundhill Financial’s Dave Mazza said he’s closely tracking what happens to traffic at the Strait of Hormuz, a narrow waterway handling about a quarter of the world’s seaborne oil trade.

Futures are pointing to a fall of 0.2 per cent at the open for the Australian sharemarket, but this was set before the US attack on Iran on Saturday (Australian time). The Australian dollar was trading at US70.65¢ at 5.26am AEDT.

Traders will be adopting the strategy of “haven first, ask questions later,” according to John Briggs, head of US rates strategy at Natixis. “The scale of the attacks and Iranian retaliation is larger than what the market expected,” he said.

Briggs said Treasuries are likely to extend moves from Friday, when short-term yields sank to levels last seen in 2022. Others are watching energy chokepoints. Roundhill Financial’s Dave Mazza said he’s closely tracking what happens to traffic at the Strait of Hormuz, a narrow waterway handling about a quarter of the world’s seaborne oil trade.

“This is about Hormuz risk, not retaliation. If shipping stays open, stocks can work through it,” he said. “If it doesn’t, all bets are off.”

Brent crude jumped 10 per cent to about $US80 a barrel over the counter on Sunday, oil traders said, while analysts predicted that prices could climb as high as $US100 after US and Israeli strikes on Iran plunged the Middle East into a new war.

The global oil benchmark has rallied this year and reached $US73 a barrel on Friday for its highest since July, buoyed by growing concern over the potential attacks that arrived a day later. Futures trading is closed over the weekend.

“While the military attacks are themselves supportive for oil prices, the key factor here is the closing of the Strait of Hormuz,” said Ajay Parmar, director of energy and refining at ICIS.

More than 20 per cent of global oil is moved through the Strait of Hormuz.

“We expect prices to open (after the weekend) much closer to $US100 a barrel and perhaps exceed that level if we see a prolonged outage of the Strait,” Parmar said.

US stocks sank Friday as Wall Street kept punishing companies that could become losers in the artificial-intelligence revolution. A surprisingly discouraging update on inflation also hurt the market, while oil prices climbed with worries about tensions between the United States and Iran.

The S&P 500 fell 0.4 per cent and staggered to the finish of just its second losing month in the last 10. The Dow Jones dropped 521 points, or 1.1 per cent, the Nasdaq composite sank 0.9 per cent.

The losses came as investors returned to knocking down software companies and other businesses they suspect could get supplanted by AI-powered competitors.

Block, the company behind Cash App, Square and other businesses, gave a potential signal of what AI could do after Chair Jack Dorsey said it’s cutting its workforce by nearly half. That’s even though he said 2025 was a strong year for the company, which is sending more cash to shareholders through stock buybacks.

“Intelligence tools have changed what it means to build and run a company,” Dorsey said in a letter to investors while announcing Block’s latest profit results. “We’re already seeing it internally. A significantly smaller team, using the tools we’re building, can do more and do it better.”

The co-founder of Twitter also said, “I don’t think we’re early to this realisation. I think most companies are late. Within the next year, I believe the majority of companies will reach the same conclusion and make similar structural changes.”

Block is cutting more than 4000 jobs from its workforce of over 10,000. Its stock jumped 16.8 per cent after making the announcement, while announcing its latest quarterly results.

Capable AI tools that can replace humans could perhaps replace entire companies, or at least eat away at their profit margins. Fears about AI disruption have caused sudden and swift sell-offs for stocks seen as potentially under threat, and they’ve rolled through industries as different as trucking logistics and legal services.

Salesforce, whose platform helps customers manage their relationships with clients, fell 2.3 per cent. It gave back much of its 4 per cent gain from the day before after reporting a better profit than analysts expected.

The pain has also hit private-equity companies that have bought or lent money to software companies, which need to withstand the AI threat to keep repaying those loans. Apollo Global Management dropped 8.6 per cent for the one of the sharpest losses in the S&P 500. Blue Owl Capital, which has been a target for investors because of the loans to it’s made to the software industry, fell 6 per cent.

Even the companies currently seeing their revenue and profit soar because of AI-related demand are under pressure. Nvidia fell 4.2 per cent and was the heaviest weight on the US stock market. A day earlier, it dropped to its worst loss since last spring even though it reported a better profit than analysts expected and forecast more in revenue for the current quarter.

On the winning side of Wall Street was Netflix, which climbed 13.8 per cent after walking away from its bid to buy Warner Bros. Discovery’s studio and streaming business. That put Skydance-owned Paramount in a position to take over its Hollywood rival.

Paramount Skydance shares jumped 20.8 per cent, while Warner Bros. Discovery fell 2.2 per cent.

Also hurting the broad market was a report showing that inflation at the US wholesale level was at 2.9 per cent last month, much higher than the 1.6 per cent that economists expected. (A.I Newsfeed)

News

Numbers Double Check

Aust $: $0.7041 USD (down $0.0068 USD)
Iron Ore: $98.65 USD (down $0.50 USD)
Oil: $67.02 USD (up $1.64 USD)
Gold: $5,278.10 USD (up $86.25 USD)
Silver 93.817 +5.55
Copper: $6.0610 USD (up $0.0300 USD)
BTC: $65,629.97 -1.71%
Dow Jones: 48,977.92 (down 521.28 points)

News

A.I News

Firmus in $600m tech giant deal, with eyes on Facebook owner Meta

Firmus Technologies has entered into a deal with US technology firm Nvidia and Australian data centre operator CDC Data Centres to deploy 18,400 Nvidia chips on behalf of an unnamed tech company at a facility in Melbourne. The facility is part of Project Southgate, which was announced last year and which will see the three companies construct 'AI factories' across Australia over a number of years at a forecast cost of more than $70 billion. The new deal is valued at around $660 million and comes as Firmus Technologies gets ready for an IPO this year. (RMS)

News

A.I News (Australia)

Canva to draw line through AI unit

Tech company Canva has announced a major restructure of its artificial-intelligence video unit, Leonardo AI, with a large number of staff there expected to loose their jobs. The restructure comes only 18 months after Canva purchased Leonardo in a deal thought to be worth $370 million, and is in contrast to Canva's 'upbeat' announcement last week of its purchase of two new AI ventures, marketing algorithm start-up MangoAI and animation software business Cavalry. (RMS)

News

Most workers unaware of AI surveillance by employers

A report from the UTS Human Technology Institute has found that 91 per cent of employers surveyed state that they use software to monitor the location of remote workers. However, only nine per cent of workers believe such technology is deployed in their own roles, and Professor Edward Santow from UTS says "that gap is alarming". Meanwhile, researchers claim that tools used explicitly for surveillance are not the only risk to employee privacy, with wellness and mental health services and products potentially another privacy risk.

News

News Media (Australia)

News Corp leader's call to arms: 'it's make or break'

News Corp Australasia's executive chairman Michael Miller is optimistic about the future of public ­interest journalism. However, he contends that factors such as AI and the regulation of large technology companies means that 2026 is set to be a "make or break" year for Australia's media sector. Miller has called for the federal government to prioritise investment in the "infrastructure of public discourse", arguing that a commitment to Australian journalism is a commitment to a "stronger Australia". He adds that while media companies should strike deals with AI companies, Australia's copyright laws should not be watered down. He has also urged the government to legislate the much-delayed news bargaining incentive, noting that many local media groups are struggling at present. (RMS)

News

The Lead Up

Feb 27

Branding stoush: Why Sky's new name is already under fire

Sky News Australia revealed on Friday that it will be rebranded as News24. Sources at the ABC have indicated that the announcement "raised eyebrows" among senior executives of the public broadcaster, given that its 24-hour news channel was originally called ABC News 24 and it owns the trademark rights to this branding. Intellectual property lawyer Jane Rawlings says it would be difficult for Sky News Australia to trademark its new name because it uses generic terms and is similar to the ABC's trademark. A South Africa-based news website also uses the News24 branding, and its logo also has the same colours as Sky News Australia's proposed new logo. (RMS)

News

Search/News Media

Google, Meta take aim at Australian plan for tech giants to pay for journalism

The US National Foreign Trade Council has labelled the federal government's News Bargaining Incentive a tax, and something that possibly breaches Australia's free trade agreement with the US. The News Bargaining Incentive aims to force big tech companies like Google and Meta to financially support Australian media by what the government refers to as a "charge and offset scheme", with the Council's complaints about the proposal contained in a submission was made to Treasury in December. News of the submission comes as the federal government tries to secure exemptions from US President Donald Trump's tariffs on imports, which are set to rise for Australia from 10 to 15 per cent. (RMS)

News

Sports Business

V'landys forecasts $1b revenue soon for NRL

The National Rugby League has reported that it had total revenue of $845.6 million for the year ending 30 September, an increase of $100.7 million over the previous year. The NRL's net profit rose from $62.3 million to $64.9 million, while net assets were up 20 per cent to $387.3 million. The release of its latest results comes as NRL CEO Andrew Abdo and Australian Rugby League Commission chairman Peter V'landys prepare for talks with television networks and streaming services about a new broadcast deal, while V'landys says he expects the NRL to surpass $1 billion in revenue in the next few years. (RMS)

News

Biz/Markets

Reporting season delivers strongest profit results since 2021, lifting sharemarket

The Australian sharemarket has enjoyed its best reporting season since 2021, which has helped to lift what is still viewed as an expensive bourse. With 80 per cent of scheduled companies by market capitalisation having reported as of last week, aggregate earnings per share for the 2026 financial year is forecast to rise around 12 per cent after low single-digit falls in the past three years. Companies that have performed well on the release of their results have included BHP and JB Hi-Fi, while those that have been punished include Wesfarmers and Reliance Worldwide. (RMS)

News

MinRes turnaround in full swing as flagship iron ore project performs

West Australian mining company Mineral Resources released its results for the first half of the financial year on Friday, with MinRes reporting an after-tax profit of $573 million. It represented a big turnaround on the $807 million loss posted a year ago, which was announced at a time when MinRes MD and founder Chris Ellison was under scrutiny over the disclosure of a decade-long tax evasion scheme and his misuse of company resources. Ellison says its latest result was the "the strongest in the company's history", while it reaffirmed its full-year volume and cost guidance. (RMS)

News

Simon Trott awarded Rio Tinto bonus as execs lose out to Magnificent Seven on TSR award

The base pay of Rio Tinto CEO Simon Trott will rise from from Stg1.34m ($2.55m) to Stg1.41m from 1 March after the mining company's board awarded him a five per cent pay rise. Trott also received Stg600,000 in relocation expenses to cover the cost from moving from his home in Perth to London, along with receiving short term incentive payments in cash and shares of $1.34m for his four months as CEO and $1.25m for the eight months he spent as head of Rio's WA iron ore operations. (RMS)

News

Rio Tinto boss lobbied Chalmers to save $11b fuel tax rebate

The federal government is under pressure to scrap the $11 billion fuel tax rebate scheme that is used by mining companies such as Rio Tinto and BHP. Unions and environment groups argue that removing the rebate scheme would force the resources sector to decarbonise at a faster rate, along with saving taxpayer's money. However, a letter released under freedom of information rules has revealed that Rio's then-chief executive of Australia, Kellie Parker, lobbied Treasurer Jim Chalmers to maintain the rebate scheme in the May budget, with Parker claiming Rio would not be in a position to deploy an electric haul truck fleet until the early 2030s. (RMS)

News

Landmark deal commits South Australian gas to home market

Oil and gas producer Santos has done a deal with the South Australian government that will see all the gas it currently exports from that state instead retained in SA in what Premier Peter Malinauskas has labelled a "state strategic reserve". Announcing the deal ahead of his government going into caretaker mode in the lead-up to the SA state election on 21 March, Malinauskas said the gas that would normally go to Japan or South Korea to advance their economies, will now be used to advance the SA economy. The deal between Santos and the SA government comes amid growing pressure on Santos's GLNG export venture in Queensland to end purchases of gas from the domestic market to meet its export contracts. (RMS)

News

Social Media/Media

X Launches Disclosure Tools to Fight Hidden Paid Promotions

Next week, X rolls out new features to make it easier to label paid promotions, with account suspensions for those who skip disclosure. Bier announced this while warning posters promoting Kalshi to add labels or face bans, targeting spam in crypto, prediction markets, and clipping agencies. Reactions range from crypto users celebrating a spammer purge with memes to concerns about clear rules, all while creators like Cynthia joke they're safe since they skip the paychecks.

Pop Culture/Gaming/Wrestling

WWE 2K26 Reveals Retro Entrances of CM Punk and Randy Savage

WWE Games shared first looks at WWE 2K26, recreating classic entrances like CM Punk's 2003 indie debut and Macho Man Randy Savage's 1998 WCW Nitro gear with Queen Sherri by his side. Iyo Sky's feathered entrance drew a thrilled 'Oh yeah! So cool!' from the champion herself. The game launches March 13 on PS5, Xbox Series X|S, PC, and Nintendo Switch 2, with Punk on the cover, over 400 stars, and new modes like thumbtack Hell in a Cell. Fans praised the nostalgic details while hoping for era-specific animations.

News

Pop Culture/Sports/Boxing

Conor Benn Signs $15 Million Deal with Dana White's Zuffa Boxing

Rising boxer Conor Benn, 29, inked a one-fight deal with Zuffa Boxing, the January 2026 venture from UFC president Dana White and Saudi backer Turki Alalshikh, backed by Riyadh Season and streaming on Paramount+. Fresh off avenging his loss to Chris Eubank Jr., Benn thanked Eddie Hearn for a decade of support—including loans and defense during his 2022 drug test suspension—but called Zuffa's offer impossible to refuse. Hearn expressed devastation, saying he misjudged Benn's loyalty after providing title shots and financial help, while Eubank Jr. mocked both and White insulted Hearn directly.

News Flashback

Pop Culture/Wrestling

Jey Uso, Bronson Reed, and Original El Grande Americano Set for Triple Threat Elimination Chamber Qualifier on WWE Raw

WWE announced a triple threat match on the next episode of Raw featuring Jey Uso, Bronson Reed, and Original El Grande Americano to qualify for the Elimination Chamber. The card also includes Brock Lesnar's return, a tribute to AJ Styles, World Champion CM Punk's appearance, and a women's qualifier with Raquel Rodriguez, Kairi Sane, and IYO SKY.

News

WWE Stars Clap Back at Tom Brady's 'Cute' Wrestling Jab

On Logan Paul's podcast earlier this month, seven-time NFL champ Tom Brady dismissed pro wrestling as 'cute' amid Paul's boasts about his WWE feats. Women's World Champion Liv Morgan, fresh off her 2026 Royal Rumble win, countered that WWE athletes could handle football but questioned if football stars could match wrestling's demands—no offseasons, global travel, and high-flying action. Randy Orton upped the ante, saying he'd love to hit Brady with an RKO, while CM Punk embraced the 'cute' label; the banter builds excitement ahead of Elimination Chamber this weekend and WrestleMania 42 in April.

News

Boxing

Ryan Garcia Dominates Barrios to Win WBC Welterweight Title

At T-Mobile Arena in Las Vegas on Saturday night, the 27-year-old southpaw outlanded Barrios in every round, sweeping all 12 on media cards for a unanimous decision victory with scores of 119-108, 120-107, and 118-109. It was Garcia's first major world title, coming after ups and downs like his 2024 win over Devin Haney that turned into a no-contest due to a positive ostarine test. Post-fight, he posed backstage mimicking Kobe Bryant's iconic trophy photo, called out Shakur Stevenson, and drew shade from Haney over past PED issues despite passing pre-fight tests.

News

Wrestling/Gaming

Mr. Iguana's Custom Wrestler Becomes Official in WWE 2K26 with AAA Stars

WWE Games revealed AAA Lucha Libre stars like Mr. Iguana, La Yesca, Psycho Clown, and Lady Flammer for Ringside Pass Season 1 DLC, available with early access on March 6, 2026. Mr. Iguana, created as a custom persona back in 2007, joins partners in dynamic poses with glowing effects and props. The additions blend Mexico's wrestling heritage with WWE action, alongside staples like Charlotte Flair and DX-era Shawn Michaels, as the full game launches March 13 on PS5, Xbox Series X|S, PC, and Nintendo Switch 2.

News

Best Quotes Of The Day

Media Man

Cryptocurrency, Finance and World

"Volatility is Satoshi’s gift to the faithful." - Michael Saylor

"Bitcoin is a tool for freeing humanity from oligarchs and tyrants, dressed up as a get-rich-quick scheme." — Naval Ravikant

"We have elected to put our money and faith in a mathematical framework that is free of politics and human error." — Tyler Winklevoss

"You can't stop things like Bitcoin. It will be everywhere, and the world will have to readjust. World governments will have to readjust." — John McAfee

"Bitcoin is the most important invention in the history of the world since the Internet." — Roger Ver

"Cryptocurrency is such a powerful concept that it can almost overturn governments." — Charles Lee

"In the future, national currencies will become obsolete. Bitcoin will become the single global currency." — Jack Dorsey

News

Pop Culture

Dream Matches: Fantasy Booking

Bulls vs Bears
Crypto King vs Mr World Bank
Citizens vs NWO
Neo vs Agent Smith
John McAfee vs You Know Who!
TKO vs Naysayers
Jake Paul, Polymarket and BETR vs Naysayers
Pro Boxing vs Newspaper Reports
VKM vs The World
Paul Bros vs Mainstream Wokes
Mr X vs Mr Bluesky
Chris Jericho vs Dirtsheets
NFL vs everyone
Zuffa vs MVP
Netflix vs World
Meta vs Australia
White Light vs Dark Matter
Lexis King vs NIL's (WWE NXT)
Volk vs Naysayers (UFC: Sydney, Australia)
Brock Lesnar vs Everyone! (WWE Royal Rumble)
Zuffa Boxing vs Golden Boy
Zuffa vs Matchroom
Netflix Sports vs The World
Beast vs Flakes
The Vision vs Mr Injury and The Masked Man aka Seth Rollins

Media Man

Markets, Crypto and Culture

Running Of The Bulls To Normal; Cryptos Hurting; All That Glitters ...

October 15/16, 2025

Sin City Sydney, Australia

ASX futures up 5 points/0.1%, at 9024

Wall Street:
S&P 500 +0.4%
Dow Jones: flat
Nasdaq +0.7%

Europe: Stoxx 50 +1%
FTSE -0.3%
DAX -0.2%
CAC +2%

Australian dollar: US65.06 cents

Bitcoin -1.6% to $US111,106

Gold +1.5% to $US4227.10 per ounce

Oil +0.1% to $US58.78 a barrel

Brent crude oil +0.1% to $US62.45 a barrel

Iron ore -0.3% to $US104.90 per ton

10-year yield:
US 4.03%
Australia 4.21%
Germany 2.57%

News Update: (Near Live)

Bitcoin:

New York/Wall St

Cryptos Today: (Near Live) Mood: Corrective! Salt Into The Wound In Checkers?! Or Salt Of The Earth In Metals Right Chess Move?! All That Glitters Not Digital Gold?!

Bitcoin $111,291.65 -1.77%
Ethereum $3,980.33 -3.44%
Tether $1.0005 -0.03%
Binance Coin $1,161.17 -3.98%
XRP $2.4129 -3.48%
Solana $194.13 -3.71%
TRON $0.3194 +0.85%
Dogecoin -$0.1961 -4.15%
Cardano $0.6677 -4.14%

Market corrective. Mood: Somber-like for many! Suspicious! Regaining smiles! Hardcores keep the dream!

Media Man Favs:

October 15, 2025 (Near Live)
Wall St, New York

TKO Group Holdings Inc $191.21 +1.18 +0.62%
NVIDIA Corp $179.83 -0.18 -0.099%
Formula One Group Series C $103.57 -0.15 -0.14%
Alphabet Inc Class A $251.03 +5.58 +2.27%
News Corp Class A $26.57 -0.070 -0.26%
Netflix Inc $1,203.29 -12.06 -0.99%
Caterpillar Inc $534.05 +6.58 +1.25%
Trump Media & Technology Group Corp $16.27
-0.010 -0.061%
Tesla Inc $435.15 +5.91 +1.38%
Walt Disney Co $111.71 +0.54 +0.49%
Wynn Resorts Ltd $118.07 +1.96 +1.69%
Meta Platforms Inc $717.55 +8.90 +1.26%
BHP Group Ltd $43.54
Mercedes Benz Group ADR $15.15 +0.040 +0.26%
Elders Ltd $7.50
Rio Tinto Ltd $129.69

News

The dollar prefers to stay within the range for now

The US dollar turned downward at the end of the day on Tuesday and continues to move downward in the first half of Wednesday. The dollar is being weighed down by the recovery of positive momentum in the stock markets. Pressure on the dollar can also be linked to Powell's latest comments yesterday evening. The Fed chairman confirmed the path to further rate cuts and said asset sales from the balance sheet could be halted soon, ending the quantitative tightening phase. To be cont ..

(FxPro)

News

The US stock market rebound may falter

US stock index futures are rising after a disastrous Friday, when Trump's aggressive response to China's tariffs shook the markets. The US president's announcements were carefully timed, with the most aggressive measures (additional 100% tariffs on Chinese goods) announced after the market closed.

Over the weekend, US and Chinese leaders appeared to reach out to each other, offering opportunities for further discussion and a deal. Market sentiment was close to extreme fear, with the Fear and Greed Index falling to 29 on Friday and recovering to 30 on Monday. These are the lowest values since the end of April, when the market was recovering from the “liberation day” effect on Trump's tariffs. In the last couple of years, this index has entered the extreme fear zone before we saw a reversal in the indices. This means that bears may exert another round of pressure on the markets. It is easy to link this to further toughening of mutual rhetoric between China and the US, albeit with the possibility of dialogue remaining open. In other words, in this case, it is worth talking about a decrease in the intensity of mutual recriminations, but not about a reversal in relations. From this, we can conclude that the risks that caused the markets to collapse on Friday remain. We also note that the S&P 500 is trading at a significant distance from its 200-week moving average, near which the market has ended its declines over the past 14 years since 2011, touching it or turning around within 2-5% of it. This contrasts sharply with the current situation, where the S&P 500 is almost 25% above this line. If we talk about a correction within a bull market, then the target for bears seems to be the 6100–6150 range, where the 50-week moving average and last winter's highs are concentrated. Movement in this direction looks like a viable strategy for the final quarter of the year, unless there is a real reversal in the rapprochement between China and the US, which we highly doubt. In addition, seasonal factors are also temporarily on the side of the bears, given the more than 40% growth from the lows of the year in early April, the suppressed volatility of the last month and a half, and the tendency to look for new patterns in the markets in the final months of the year. If that's not enough, add to this the fact that the economy is beginning to feel the effects of tariff wars and a deteriorating labour market, and AI is no longer a novelty. In these conditions, it will be increasingly difficult for traders to find reasons for local purchases. (FxPro)

News

Crypto market recovers from tariff shock

Market Overview

The crypto market capitalisation stood at $3.9 trillion on Monday, up 4.4% from the previous day but down 6% from pre-Friday crash levels. On Friday, the US stock market saw its biggest drop since April but recovered some of its losses on Monday. Since Sunday, the crypto market has been attempting to rebound after a sell-off that began as an emotional reaction to tariff initiatives by China and the US but escalated into massive margin calls and stop orders being triggered.

The sentiment index stood at 38 (fear) on Monday morning, down from 24 (extreme fear) the day before. The level of sentiment we saw over the weekend was last seen in April under similar circumstances — when tough trade tariffs were announced.

Bitcoin approached $115K on Monday, while Ethereum exceeded $4,200. Cryptocurrencies are recovering after Friday's sharp decline. The movement on Friday and in the early hours of Saturday swept the ‘weak hands’ out of the market, taking the price of BTC below the 50—and 200-day moving averages and below the August and September lows.

Such sweeping liquidations often set the bottom of the market, but it may take time for the wounds to heal. In 2020, 2021 and 2024, it took a couple of weeks for the rally to start, although the market did not rewrite the lows. But in 2022, the turnaround to growth after the crash began after about six months. Relying on these statistics is encouraging for bargain hunters in crypto. Still, it would be too hasty to say that the recovery will be just as quick and will begin immediately.

News Background

Wall Street crashed on Friday after US President Donald Trump escalated the trade conflict with China following Beijing's tightening of restrictions on trade in rare earth metals, Reuters reports. Cryptocurrencies and stock indices fell sharply on Friday. Some softening of tone from Trump and Xi has led to the probability of 100% tariffs against China by 1 November being estimated at 8% on Polymarket, down from 26% at the end of Friday. Santiment notes that bitcoin remains extremely sensitive to risk appetite and behaves more like a risky asset than a safe haven.

The Kobeissi Letter notes that the collapse of cryptocurrencies on 11 October will not have long-term fundamental consequences and was caused by a combination of technical factors. The market crash triggered a record cascade of liquidations worth $19.3 billion. Analyst Frank Fetter, citing technical indicators, said the cryptocurrency market is still far from overbought, which means there is still potential for the rally to continue.

News Flashback

Oil Holds Strong Despite Bearish Fundamentals

Weekly data from the EIA noted that the US returned to record oil production rates last week, supplying an average of 13.6 million barrels per day to the market, according to the latest EIA data. The trend towards increased supply began in August, but producers have only now returned to the peak levels recorded at the end of last year. Despite a 5.5-million-barrel increase in US commercial inventories over the past two weeks, inventories stay at the lower end of the range seen over the past decade, leaving considerable room for growth. The same can be said for the strategic reserve, which holds nearly 40% less oil than it did five years ago, before the start of the active sell-off. It is an interesting game in which, on the one hand, the US (the largest oil producer) is increasing supplies, while OPEC+ is increasing quotas on a monthly basis. This extremely bearish combination of factors did not cause oil prices to collapse; it was only because of global trade in currency depreciation that caused precious metals, stock indices, and cryptocurrencies to rise. Oil prices have not peaked in recent weeks .. To be cont .. (FxPro)

News

Gold hits new highs due to political turmoil

Gold is outside the realm of politics.

While currencies and securities depend on the actions of presidents and governments, precious metals do not. Therefore, political turmoil forces investors to use them as safe-haven assets.

The impressive 52% rally in gold started in April with the introduction of tariffs on America's Liberation Day. It continued due to the US government shutdown, the political crisis in France, and the change of leadership in Japan. he rise of gold above 4,000 dollars per ounce is not only the result of the weakness of fiat currencies. There are tectonic shifts in the structure of investment portfolios and fears of financial crises due to government recklessness.

The share of precious metals is growing both in speculators' assets and in the gold and foreign exchange reserves of central banks. The indicator has already exceeded the share of the euro. According to Eurizon Capital, if it equals the share of the US dollar, the price per ounce will soar to 8,500 dollars. The Supreme Court's abolition of tariffs will inflate the US budget deficit. France does not intend to reduce it, and Japan plans to increase bond issuance. All this creates a tailwind for commodity assets. (FxPro)

News

Politics remains the main driver of FX

The US government shutdown did not have a noticeable impact on the dollar's performance last week. However, it did help the stock market to grow slightly by strengthening expectations of monetary policy easing. However, these events pale in comparison to the change in Japan's ruling elite and the resignation of the French prime minister less than a day after the formation of the government in terms of their impact on the currency market. In Japan, Sanae Takaichi was chosen head of the Liberal Democratic Party over the weekend and is on track to become the country's first female prime minister. This event caused the yen to fall 2% to 150.49 from Friday's level before correcting to 149.80 at the time of writing. Takaichi is considered a supporter of aggressive government spending, structural reforms, and soft monetary policy, echoing the basic principles of Shinzo Abe. Overall, she has a more right-wing approach to national policy and is also a supporter of revising Japan's pacifist constitution. The market reaction clearly shows that they are considering Takaichi to be the new prime minister. If she does not change her political views (and she has softened them recently to win the party elections), we should be prepared for a further weakening of the yen, which reached its highest level since 1991 in the EURJPY pair, exceeding 176. However, the single currency is also facing uncertainty today due to a new political crisis in France. Prime Minister Lecornu, who had been trying to form a government for a month, resigned the day after he finally presented his new cabinet. His appointments drew criticism from both left-wing and right-wing allies. The EURUSD fell to 1.1650 at its lowest point on Monday, losing a full cent against Friday's levels. Unlike Japan, where a 2% drop in the JPY was accompanied by a 5% jump in the Nikkei225 index, France's CAC40 lost more than 2% intraday, paring its losses to 1.2% towards the end of the trading day in Europe. The EURUSD stopped its climb in July and has been hovering around 1.1700 all this time, not least because of the political crisis in France. Without it, the single currency would have had a much better chance of exploiting political divisions in the US to its advantage. It would be an exaggeration to call the situation in Japan and France a drama. Still, these events once again emphasise that as soon as the dollar's throne begin.

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Cryptocurrency Movies
Documentaries

The Rise and Rise of Bitcoin (2014)
Follows early Bitcoin adopter Daniel Mross, exploring Bitcoin’s origins, its volatile rise, and the community behind it. Great for understanding Bitcoin’s early days and its potential to disrupt finance.

Banking on Bitcoin (2016)
Examines Bitcoin’s history, ideological roots, and impact on global financial systems through interviews with pioneers and experts. A solid primer for newcomers.

Cryptopia: Bitcoin, Blockchains, and the Future of the Internet (2020)
Directed by Torsten Hoffmann, this documentary dives into blockchain’s broader applications beyond cryptocurrency, addressing scalability and regulatory challenges. Ideal for those interested in blockchain’s transformative potential.

Trust Machine: The Story of Blockchain (2018) Narrated by Rosario Dawson, it explores blockchain’s societal impact, from financial inclusion to voting systems. A comprehensive look at real-world applications.

Bitcoin: The End of Money as We Know It (2015)
Traces the history of money and introduces Bitcoin as a decentralized alternative, critiquing centralized financial systems. Features interviews with crypto experts.

Deep Web (2015) Narrated by Keanu Reeves, this documentary focuses on the Silk Road marketplace and its creator, Ross Ulbricht, highlighting Bitcoin’s role in dark web transactions.

Bitconned (2024) Explores the Centra Tech crypto scam, detailing how three individuals defrauded investors during the 2010s crypto boom. A cautionary tale about unregulated markets.

Feature Films

Crypto (2019)
A crime thriller starring Beau Knapp, Luke Hemsworth, and Kurt Russell. It follows a young anti-money laundering agent investigating corruption and cryptocurrency in his hometown. Critics note its exaggerated portrayal but praise its entertainment value.

Silk Road (2021)
A dramatization of Ross Ulbricht’s creation of the Silk Road, a dark web marketplace using Bitcoin. It explores his rise and fall, blending crime and drama.

Dope (2015) A coming-of-age comedy-drama featuring Bitcoin as a plot device. High schooler Malcolm uses Bitcoin for a dark web transaction, reflecting its early association with illicit activities.

Bonus Mentions

Life on Bitcoin (2014): Follows a couple attempting to live solely on Bitcoin for 100 days, showcasing early adoption challenges.

Bitcoin Heist (2016): A Vietnamese action-comedy about hackers chasing a crypto criminal, blending humor and thrills.

Notes Documentaries are generally more educational, focusing on Bitcoin’s history, blockchain technology, and real-world implications. They’re great for beginners and enthusiasts alike.

Feature films often dramatize crypto’s association with crime or scams, sometimes oversimplifying or exaggerating for effect. They prioritize entertainment over accuracy. For a deeper dive, check streaming platforms like Prime Video, Fandango at Home, or YouTube, where many of these are available.

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Wall Street (Movie)
Wall Street (1987), directed by Oliver Stone, is a drama about ambition and greed in the 1980s financial world. It follows Bud Fox (Charlie Sheen), a young stockbroker desperate to succeed, who gets entangled with Gordon Gekko (Michael Douglas), a ruthless corporate raider. Gekko’s mantra, “Greed is good,” drives the story as Bud is lured into insider trading and unethical deals, compromising his morals for wealth and power.

The film explores themes of capitalism, loyalty, and betrayal, with Bud navigating pressures from Gekko, his father (Martin Sheen), and his own conscience.

Key Details: Cast: Michael Douglas (Gordon Gekko), Charlie Sheen (Bud Fox), Daryl Hannah (Darien Taylor), Martin Sheen (Carl Fox).
Runtime: 2h 6m.
Genre: Drama/Crime.
Rating: R. Box Office: ~$44 million (US).

Awards: Michael Douglas won the Academy Award for Best Actor.

Notable Aspects:

Gekko’s “Greed is good” speech is iconic, reflecting 1980s excess. Inspired by real-life figures like Ivan Boesky and Michael Milken.

A sequel, Wall Street: Money Never Sleeps (2010), continued the story.

Where to Watch (as of 2025):
Streaming: Available on platforms like Peacock or rentable on Amazon, YouTube, or Apple TV (check current availability).
Physical: DVD/Blu-ray via retailers like Amazon.

News Flashback

Gold, copper, & silver:

How metals are moving this year

Metal futures have made some pretty dramatic moves lately from safe haven gold to tariff sensitive copper. So let's take a look at the longer term trends. I'm Jared Blikre, host of Stocks in Translation. And I'm going to start by charting some of the moves in Dr. Copper because this is where we have the most zig and zags over the last 25 years. So this goes back to the beginning of the century and we can see right now, we're at $5.51 per pound. That is a record high. But if we go back to the beginning of the century, guess what? Uh we had a little bit of a slump in the wake of the dot com boom and then bust, but starting in 2003, we saw a big rise there. And that was as China actually joined the World Trade Organization or the WTO. That lasted into the global financial crisis. Then we had a pretty big bust in in Dr. Copper, and then we had another rise. And that rise was due to unprecedented stimulus, not only from the Chinese government, but also from the United States government, QE was in force, and then we saw kind of a strong dollar play. That weighed on this metal all the way into the beginning of 2016. The entire world, most of the world indices went through a bear market in 2015, and then 2016, we found the footing. And that was actually the year that Trump won, began his first presidency. And from there, we saw some zig and zags, and then we saw a shock into the pandemic. A couple of, a couple of years of deflation or a semi-deflation, disinflation, that caught up with it in 2022, but then it was off to the races again. And especially with the Trump tariffs now on copper, threatening to be threatening to be 50% on August 1st, we're seeing a lot of front running in this trade. Now, I also want to show you gold futures and I'm going to show you silver as well. And they follow a very similar pattern. We're not seeing the dramatic zig and zags that we did in copper, but we did see the same pattern of China joining the WTO, contributing to that huge rise in price to 1800, almost $2,000 an ounce by the beginning of the global financial crisis. So a little bit of a meltdown there. But in 2016 into 2018, we saw a bit of a rise into the pandemic, a little bit of a whipsaw there, and consolidation over a few years. Again, that 2022 bare market in US stocks that contributed to some deflation and disinflation globally, supply chain chain shocks came into force again, and then we saw this huge rise beginning in late 2023, and we are now at 3353. We've seen a high of as much as $3,500 per ounce. And gold is kind of unique among the precious metals and also the industrial metals, and this is because central banks have been a huge determining force in their buying of it. This is a bar chart that shows central bank buying in tons going back all the way to 2010. And what you notice here is the last three years, 2022, 2023, 2024, all of those had gold being bought by central banks of in the amount of over 1,000 tons. And so that's a pretty big dramatic increase from the prior years. And this has to do with the ongoing dedollarization in China, as well as Russia, but also a host of other countries, even some in western and eastern Europe. So this is a trend that we want to follow. Uh, I want to close out here with silver, and I'm going to just chart the price action. Again, very similar chart to gold and copper in terms of the big movements here. We saw a big price spike into almost $50 per ounce, and that was just as the global financial crisis was getting underway. And then the QE area in 2011, that's when we saw that high. Then we saw a dramatic, dramatic crash into 2016, kind of found its footing, saw a big squeeze in the early pandemic, 2020 was a great year for silver, but then we saw a little bit of a fallout. And again, silver is on the rise here at $38. It's still off of that $50 record high, but it is increasing very quickly. To round out the conversation, I want to just put on a table here. I have all three medals and just kind of grouping them together. I want to display how they are moving with their specific patterns with a trigger, and then to tell you which one of these is featured in these specific criteria. So here, under the pattern, we have acceleration. So that would be an economic acceleration. The trigger would be liquidity. And when that happens, we see all metals benefiting from that. And then when there's a safe haven scare, and that trigger would be a crisis of some sorts, you're going to see gold and silver outperforming the most, kind of leaving Dr. Copper behind. And then here's a bearish one, industrial drags, that affects copper disproportionately here, and the trigger there is typically a stronger US dollar because the US dollar surges when global global industrials tend to drag, and that's because the US is the least dirty shirt in the laundry basket of the world. And then finally here, we have a policy shock. This will affect all three medals, but especially copper and gold here. Um, arguably, the biggest reason is tariffs and debt, and we've seen both of those contribute to silver rising. So we could put all three in that basket as well. But when you put it all together, we have the perfect explosive mix for all three of these metals, including palladium and also platinum, which we didn't get to have time for, but all of these are experiencing huge thrust in 2025. And we'll have to see how these tariffs play out, especially on Dr. Copper with respect to that August 1st deadline. Remember, 50% there. So tune into Stocks in Translation for more jargon busting deep dives, new episodes on Tuesdays and Thursdays on Yahoo Finances website, or wherever you find your podcast. (Transcript from Yahoo! Finance podcast)

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An investment in knowledge pays the best interest." — Benjamin Franklin

"Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows." — Jim Rogers

Be fearful when others are greedy and greedy only when others are fearful." — Warren Buffett

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Thank God It's Friday Edition Under The Media Watercooler

August 7/8, 2025

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Stock market growth has boosted altcoins more than BTC

Market Overview

The crypto market increased its capitalisation by almost 1% over the past day to $3.76 trillion. This smooth recovery is consistent with the growing appetite in the stock markets, where the Nasdaq100 is approaching peak values, trading just over 1% below its historical highs. The growth drivers remain the leading altcoins ETH (+2.4%), XRP (+1.7%), Solana (+3.7%) and Dogecoin (+2.7%) against a modest +0.7% for BTC.

Bitcoin is approaching $115K on Thursday morning, reinforcing confidence in a rebound from the 50-day moving average in the first days of the month. However, the situation is clouded by uncertainty due to trading within a narrow range. Signals for a continuation of the movement will be a breakout of support at $112K (recent local lows and 50-day average) or a breakout of resistance at $120K (July peaks and an important round level).

News Background

According to Glassnode, Bitcoin has moved from a stage of euphoria to a stage of cooling off, with pressure from sellers intensifying. Demand from large companies and investment funds is weakening, capital inflows into spot Bitcoin ETFs have fallen by almost a quarter, network activity is declining, and transfer volumes and commission fees are shrinking. In such conditions, any recovery will be short-lived, as there are no fundamental catalysts for a rally.

Options point to expectations of a decline in Bitcoin and Ethereum by the end of August. Analyst Sean Dawson notes that investors are hedging en masse in case of a sharp pullback in BTC below $100,000.

Well-known trader Ton Weiss suggested that the concentration of Bitcoin in the hands of large American companies creates risks of centralisation, and the US authorities may try to confiscate it in the event of an economic crisis, as they once did with gold. In his opinion, this could happen in 2032–2033.

As part of Project Crypto, the US SEC has clarified that liquid staking is not usually subject to securities laws.

US President Donald Trump is going to sign an executive order imposing penalties on banks that refuse to serve crypto companies, The Wall Street Journal reported, citing sources in the White House. (FxPro)

News

SEC and Ripple Conclude XRP Lawsuit

The U.S. Securities and Exchange Commission and Ripple Labs have dismissed all appeals in their legal battle over XRP, ending a case that began in December 2020. A court previously ruled that XRP sales on public exchanges did not constitute securities, while institutional sales violated securities laws, resulting in a $125 million fine for Ripple. This resolution eliminates further litigation and provides regulatory clarity for the cryptocurrency.

News

Cryptos Today: (Near Live)

Bitcoin $116,400.26 USD +1.16%
Ethereum $3,886.75 USD +4.27%
XRP $3.34 USD +11.23%
Tether $0.9987 USD -0.19%
BNB: $784.56 USD +2.44%
Solana $175.11 USD +3.30%
USD Coin $0.9993 USD -0.07%
Dogecoin $0.2227 USD +8.31%
TRON $0.3375 USD -0.71%

News

Business activity in the eurozone is growing, but very slowly

Business activity in the eurozone is returning to growth thanks to a turnaround in manufacturing since the end of last year and a slight acceleration in the pace of growth in services, according to data published by S&P Global.

The final composite PMI data for July showed an increase to 50.9, rising for the third consecutive month and repeating March's figures. Overall, the indicator has returned to levels close to those seen in 2019, indicating fairly sluggish economic growth.

Although the manufacturing sector, for which data was published on Friday, remains below 50, indicating a contraction, this is significantly better than the 45.2 recorded in November and December. This increase clearly reflects the momentum of growth in defence spending in the eurozone and the reduction in the key interest rate, which increases the availability of credit.

The services sector has remained in growth territory for the past eight months, but is experiencing relatively moderate growth rates, which does not suggest any risks of accelerating inflation from this perspective.

An important difference between 2025 and 2019 is the ECB's key rate, which stands at 2.15% versus 0%, respectively. The Central Bank has room to ease policy, so we view the current data as moderately bearish. (FxPro)

News

New Zealand's labour market – a new reason to pause the RBNZ's rate cuts

The New Zealand dollar was able to swim against the tide on Wednesday, strengthening against the dollar more than its other competitors on positive labour market statistics. NZDUSD has gained 0.6% since the start of the day to 0.5930, hitting a weekly high.

In the second quarter, the number of people employed fell by 0.9% compared to the same period a year earlier, but this data was in line with average forecasts. At the same time, the unemployment rate was better than expected, rising from 5.1% to 5.2%, while 5.3% was expected. Salaries rose 0.6% for the quarter and were 2.2% higher than a year earlier — quite healthy figures above forecasts.

There is hope that the labour market is seeing a reversal in wage growth compared to the 0.4% increase in the first three months of the year. This looks like the first signs of the economy's response to the cycle of policy easing that began a year ago. During this time, the RBNZ cut its key rate by two percentage points to 3.25%.

Labour market indicators complement inflation statistics, which show an acceleration from 2.2% at the end of last year to 2.7% year-on-year at the end of the second quarter. Such an acceleration could be a strong argument in favour of at least pausing the rate cuts at the next meeting on August 20. (FxPro)

News

August 5, 2025

Resilient dollar despite weak jobs data

The US employment report published on Friday confirmed its status as the economic report with pivotal status. The dismissal of the head of the Bureau of Labour Statistics is a high-profile political precedent, but we are interested in the consequences for the markets.

Employment growth of 73K was reported, significantly lower than the expected 106K. But the main shock was the revision for May from 144K to 19K and for June from 147K to 14K. Businesses barely created any new jobs in the first months after the tariffs were introduced, in contrast to ‘business as usual’ before the publication.

This report radically reversed the trend in the debt market. Over the past few weeks, markets have been pushing back the Fed's rate cuts further into the future and reducing the number of expected cuts in subsequent quarters. The peak of this revaluation came shortly after the FOMC comments on 30 July. At that time, the markets were pricing in a more than 60% chance that there would be no easing in September, and the main scenario until the end of the year was only one cut.

Now, the probability of a cut in September exceeds 90%, and the chances of three cuts by the end of the year are 47%, i.e. a 25-basis-point cut at each of the remaining meetings.

Investors in the stock markets prefer to see the positive side of the situation, expecting that lower rates will boost corporate earnings. In addition, lower bond yields at lower rates increase the attractiveness of equities.

Somewhat unusually, the dollar, which lost 1.5% on Friday, recovered a third of its losses, adding 0.5% to its lows, despite the clearly negative news for the USD. We previously said that such a reaction was expected due to the US currency's accumulated oversoldness due to its downward trend since January.

Technically, the 50-day moving average, which acted as resistance until mid-July, helped to stop the dollar's decline. Fundamentally, the dollar may be boosted by the familiar idea that in Europe and other parts of the world, the slowdown in US consumption will lead to an even greater slowdown, forcing further policy easing.

At the same time, it is worth being cautious with bullish forecasts for the dollar, as its growth still has several control points to pass. First, it is worth looking at the dynamics of the DXY near its latest peak of 100 against the current 98.8. The next confirmation of a long-term reversal in the dollar trend will be a break above 102, an important peak in May, near which the 200-day moving average and the 61.8% level of the decline from the January peak to the June bottom also pass. Breaking through this level will prove that the movement has risen from a corrective rebound to a reversal, opening growth potential to 110. (FxPro)

News

August 8, 2025

Markets

Australian Dollar: $0.6523 USD (up $0.0023 USD)

Iron Ore: $102.00 USD (up $0.05 USD)

Oil: $63.83 USD (down $0.44 USD)

Gold: $3,396.07 USD (up $27.76 USD)

Copper: $4.4140 USD (up $0.0010 USD)

Bitcoin: $117,275.06 USD (up 1.83%)

Dow Jones: 43,968.64 (down 224.48 points)

News

Business (Australia and World)

August 8, 2025

Shares trade near record; ASX Limited tumbles

The Australian sharemarket edged lower on Thursday, with the S&P/ASX 200 shedding 0.1 per cent to close at 8,831.4 points. ASX Limited was down 8.6 per cent at $64.22, Resmed fell 2.1 per cent to $43.02 and the Commonwealth Bank eased 0.5 per cent to end the session at $178.13. However, JB Hi-Fi rose 1.8 per cent to $116.41, Westgold Resources was up 5.1 per cent at $2.90 and Neuren Pharmaceuticals finished 3.2 per cent higher at $17.55. (RMS)

News

Doubts over gold's 'safe haven' status despite record run

The gold price has risen by nearly 30 per cent so far in 2025, having reached a record high of $US3,500 an ounce in April. However, analysis by Bhanu Singh from Dimensional Fund Advisors has raised doubts about gold's long-standing reputation as a 'safe haven' asset. Singh has found that gold rose in just over 50 per cent of calendar years between 1980 and 2024; in contrast, the Australian sharemarket rose in 73 per cent of the years during that period. Singh says people do not realise that gold is a more volatile asset class than shares. (RMS)

News

ANZ staff await Matos' vision

The ANZ Bank's CEO Nuno Matos has yet to outline his strategy for the 'big four' bank, several months after he succeeded Shayne Elliott. However, Matos is said to have told analysts in closed-door meetings that he intends to 'transform' ANZ. Sources within the bank have claimed that his strategy will include significant job cuts and outsourcing more roles to India. The Finance Sector Union's national president Wendy Streets has accused Matos of treating ANZ employees as "disposable". (Roy Morgan Summary)

News

ASX takes $35m hit from ASIC inquiry as rival Cboe lurks

The ASX has advised that it will spend between $25m and $35m this financial year on legal costs and resourcing on an Australian Securities & Investments Commission inquiry into it. The inquiry was launched in June after a series of failures by the ASX that have called into question its ability to keep the Australian sharemarket functioning properly, while it is understood that ASIC has broadened its inquiry to take in the ASX's latest error, which saw it confuse listed telco TPG Telecom with private equity firm TPG Capital. The mistake, which had TPG Telecom buying software provider Infomedia when it was actually TPG Capital. (RMS)

News

The Wolf Of Wall Street

The Wolf of Wall Street is a 2013 film directed by Martin Scorsese, based on Jordan Belfort's memoir. It follows Belfort, played by Leonardo DiCaprio, a stockbroker who rises to wealth through fraudulent schemes in the 1990s, indulging in a hedonistic lifestyle of drugs, sex, and excess. His firm, Stratton Oakmont, manipulates stock prices to scam investors, leading to millions in ill-gotten gains. The FBI eventually catches up, and Belfort’s empire collapses. The movie blends dark comedy, drama, and satire, critiquing greed and the American Dream.

Key details:
Cast: Leonardo DiCaprio (Jordan Belfort), Jonah Hill (Donnie Azoff), Margot Robbie (Naomi Lapaglia), Matthew McConaughey (Mark Hanna).

Runtime: 3 hours.

Rating: R (for graphic nudity, drug use, language, and violence).

Box Office: Grossed over $392 million worldwide.

Reception: Praised for its energy, performances, and Scorsese’s direction; criticized by some for glorifying excess. Nominated for five Oscars, including Best Picture and Best Actor. (Grok)

News

The Social Network: News

No official release date or production timeline has been confirmed, and the casting deals are not yet finalized.

These details stem from entertainment industry sources like Deadline and The Hollywood Reporter, shared via posts on XThe primary news surrounding The Social Network relates to the development of a sequel, tentatively referred to as The Social Network Part II.

Here are the key details based on recent reports:

Sequel Announcement and Casting: Aaron Sorkin, the writer of the original 2010 film, is set to write and direct the sequel. The project is in early development, with Mikey Madison and Jeremy Allen White as top choices to star. Madison would portray Frances Haugen, the whistleblower who disclosed Facebook’s documents in 2021, while White would play Jeff Horwitz, the journalist who investigated the Facebook Files. Jeremy Strong is a frontrunner to play Mark Zuckerberg, a role originally portrayed by Jesse Eisenberg.

Focus of the Sequel: The sequel is expected to explore significant events post-2010, particularly the 2021 Facebook Files leak, which revealed internal documents about the company’s practices. This suggests a shift in narrative from the founding of Facebook to its later controversies.

Context and Relevance: The original film chronicled the creation of Facebook and the legal battles involving Mark Zuckerberg and his co-founders. A sequel could delve into the platform’s evolution, its impact on society, and ongoing scrutiny over data privacy and misinformation, reflecting current debates about social media’s role in public discourse. (Grok)

News

Wall Street (Movie)

Wall Street (1987), directed by Oliver Stone, is a drama about ambition and greed in the 1980s financial world. It follows Bud Fox (Charlie Sheen), a young stockbroker desperate to succeed, who gets entangled with Gordon Gekko (Michael Douglas), a ruthless corporate raider. Gekko’s mantra, “Greed is good,” drives the story as Bud is lured into insider trading and unethical deals, compromising his morals for wealth and power. The film explores themes of capitalism, loyalty, and betrayal, with Bud navigating pressures from Gekko, his father (Martin Sheen), and his own conscience.

Key Details:

Cast: Michael Douglas (Gordon Gekko), Charlie Sheen (Bud Fox), Daryl Hannah (Darien Taylor), Martin Sheen (Carl Fox). Runtime: 2h 6m. Genre: Drama/Crime. Rating: R. Box Office: ~$44 million (US).

Awards: Michael Douglas won the Academy Award for Best Actor.

Notable Aspects:

Gekko’s “Greed is good” speech is iconic, reflecting 1980s excess.

Inspired by real-life figures like Ivan Boesky and Michael Milken.

A sequel, Wall Street: Money Never Sleeps (2010), continued the story.

Where to Watch (as of 2025):

Streaming: Available on platforms like Peacock or rentable on Amazon, YouTube, or Apple TV (check current availability). Physical: DVD/Blu-ray via retailers like Amazon.

News

Gold, copper, & silver: How metals are moving this year

Metal futures have made some pretty dramatic moves lately from safe haven gold to tariff sensitive copper. So let's take a look at the longer term trends. I'm Jared Blikre, host of Stocks in Translation. And I'm going to start by charting some of the moves in Dr. Copper because this is where we have the most zig and zags over the last 25 years. So this goes back to the beginning of the century and we can see right now, we're at $5.51 per pound. That is a record high. But if we go back to the beginning of the century, guess what? Uh we had a little bit of a slump in the wake of the dot com boom and then bust, but starting in 2003, we saw a big rise there. And that was as China actually joined the World Trade Organization or the WTO. That lasted into the global financial crisis. Then we had a pretty big bust in in Dr. Copper, and then we had another rise. And that rise was due to unprecedented stimulus, not only from the Chinese government, but also from the United States government, QE was in force, and then we saw kind of a strong dollar play. That weighed on this metal all the way into the beginning of 2016. The entire world, most of the world indices went through a bear market in 2015, and then 2016, we found the footing. And that was actually the year that Trump won, began his first presidency. And from there, we saw some zig and zags, and then we saw a shock into the pandemic. A couple of, a couple of years of deflation or a semi-deflation, disinflation, that caught up with it in 2022, but then it was off to the races again. And especially with the Trump tariffs now on copper, threatening to be threatening to be 50% on August 1st, we're seeing a lot of front running in this trade. Now, I also want to show you gold futures and I'm going to show you silver as well. And they follow a very similar pattern. We're not seeing the dramatic zig and zags that we did in copper, but we did see the same pattern of China joining the WTO, contributing to that huge rise in price to 1800, almost $2,000 an ounce by the beginning of the global financial crisis. So a little bit of a meltdown there. But in 2016 into 2018, we saw a bit of a rise into the pandemic, a little bit of a whipsaw there, and consolidation over a few years. Again, that 2022 bare market in US stocks that contributed to some deflation and disinflation globally, supply chain chain shocks came into force again, and then we saw this huge rise beginning in late 2023, and we are now at 3353. We've seen a high of as much as $3,500 per ounce. And gold is kind of unique among the precious metals and also the industrial metals, and this is because central banks have been a huge determining force in their buying of it. This is a bar chart that shows central bank buying in tons going back all the way to 2010. And what you notice here is the last three years, 2022, 2023, 2024, all of those had gold being bought by central banks of in the amount of over 1,000 tons. And so that's a pretty big dramatic increase from the prior years. And this has to do with the ongoing dedollarization in China, as well as Russia, but also a host of other countries, even some in western and eastern Europe. So this is a trend that we want to follow. Uh, I want to close out here with silver, and I'm going to just chart the price action. Again, very similar chart to gold and copper in terms of the big movements here. We saw a big price spike into almost $50 per ounce, and that was just as the global financial crisis was getting underway. And then the QE area in 2011, that's when we saw that high. Then we saw a dramatic, dramatic crash into 2016, kind of found its footing, saw a big squeeze in the early pandemic, 2020 was a great year for silver, but then we saw a little bit of a fallout. And again, silver is on the rise here at $38. It's still off of that $50 record high, but it is increasing very quickly. To round out the conversation, I want to just put on a table here. I have all three medals and just kind of grouping them together. I want to display how they are moving with their specific patterns with a trigger, and then to tell you which one of these is featured in these specific criteria. So here, under the pattern, we have acceleration. So that would be an economic acceleration. The trigger would be liquidity. And when that happens, we see all metals benefiting from that. And then when there's a safe haven scare, and that trigger would be a crisis of some sorts, you're going to see gold and silver outperforming the most, kind of leaving Dr. Copper behind. And then here's a bearish one, industrial drags, that affects copper disproportionately here, and the trigger there is typically a stronger US dollar because the US dollar surges when global global industrials tend to drag, and that's because the US is the least dirty shirt in the laundry basket of the world. And then finally here, we have a policy shock. This will affect all three medals, but especially copper and gold here. Um, arguably, the biggest reason is tariffs and debt, and we've seen both of those contribute to silver rising. So we could put all three in that basket as well. But when you put it all together, we have the perfect explosive mix for all three of these metals, including palladium and also platinum, which we didn't get to have time for, but all of these are experiencing huge thrust in 2025. And we'll have to see how these tariffs play out, especially on Dr. Copper with respect to that August 1st deadline. Remember, 50% there. So tune into Stocks in Translation for more jargon busting deep dives, new episodes on Tuesdays and Thursdays on Yahoo Finances website, or wherever you find your podcast. (Transcript from Yahoo! Finance podcast)

News

Best Quotes

An investment in knowledge pays the best interest." — Benjamin Franklin

"Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows." — Jim Rogers

Be fearful when others are greedy and greedy only when others are fearful." — Warren Buffett

Media Man

"Everything is a gamble" Greg Tingle, Media Man Group

News

Best Quotes Of The Day

The best and biggest gold mine is in between your ears."

"You are a gold mine of potential power. You have to dig to find it and make it real."

"Your mind is like a gold mine, if you dig deep you will find something golden."

"Don't die without mining the gold in your mind."

"We're like goldfields. Until we dig deep to find what's inside us, our true potentials may be hidden forever."

"If you want to find gold, you've got to love the process of digging."

"Even if you're sitting on a gold mine, you still have to dig."

"Develop men the same way gold is mined"

"Don't go into the mine looking for dirt; instead, go in looking for the gold."

"A prospector's job is to remove dirt as quickly as possible"

"A prospector who analyses every speck of dirt won't find much gold"

"The world is sitting on a gold mine but knows it not." "Make new friends, but keep the old; Those are silver, these are gold."

"All that is gold does not glitter."

"Gold is forever. It is beautiful, useful, and never wears out"

"Gold is the money of kings"

"Mining is the art of exploiting mineral deposits at a profit. An unprofitable mine is fit only for the sepulcher of a dead mule."

"Anyone can find the dirt in someone. Be the one that finds the gold."

"True gold fears no fire."

"The desire of gold is not for gold. It is for the means of freedom and benefit."

"Make new friends, but keep the old; Those are silver, these are gold."

"When taken for granted, gold in one's hand is sometimes considered like cheap copper – so are people."

Markets and Cryptos

June 5, 2025
Sydney, Australia

Markets

ASX futures up 3 points/ 0.04% to 8568
AUD +0.5% at US64.95¢
Bitcoin -1.2% to $US105,049
Dow -0.1%
S&P +0.2%
Nasdaq +0.3%
Gold +0.6% to $US3373.00 an ounce
Oil -1.1% at $US64.90 a barrel
Iron ore +1.1% at $US95.35 a ton

Cryptos:

Cryptos Today: (Near Live)

Bitcoin $104,694.56 USD -0.90%
Ethereum $2,610.29 USD +0.00%
Tether $1.00 USD -0.08%
XRP $2.21 USD -2.33%
BNB $664.14 USD +0.45%
Solana $154.54 USD -1.20%
USD Coin $1.00 USD +0.03%
Dogecoin $0.1886 USD -3.06%
Cardano $0.6704 USD -1.87%
TRON $0.2731 USD +0.73%
Wrapped Bitcoin $104,747.33 USD -0.85%
Sui $3.19 USD -2.21%
Chainlink $13.84 USD -1.82%
Avalanche $20.33 USD -4.01%

News

Bitcoin News

Bitcoin rebounded, while Ethereum still fights with its 200-day MA

Market Picture
Market capitalisation at $3.32 trillion remains roughly the same as the day before. With the start of the new month, there is a visible upward trend with a sequence of higher local highs, although the market is more than 3% lower than seven days ago.

The cryptocurrency sentiment index remains in greed territory at 62, although it has lost a couple of points over the day. This cooling does not interfere with the local positive trend but indicates a moderate pace of growth.

Bitcoin is trading above $105K, rebounding from lows near $103K on 31 May. This looks like the beginning of an upward movement from the mid-May consolidation area. Potentially, this momentum could take the market to new highs above $130K.

Ethereum continues to struggle with its 200-day moving average, unable to consolidate above it. However, the overall positive background allows bulls to quickly seize the initiative on downward pullbacks. As was the case three and a half weeks ago, breaking through $2,700 will be an important signal that the coin has moved from consolidation to growth. In turn, this could be an important indicator of renewed optimism for the entire cryptocurrency market.

News Background
Bitcoin could correct to $96,700, according to CryptoQuant. This level corresponds to the average purchase price of short-term investors. Bitcoin Magazine is also not optimistic about the short-term prospects for Bitcoin.

Strategy has announced the issue of 2.5 million preferred shares with a 10% dividend yield. The funds raised will be used to purchase the first cryptocurrency.
Hong Kong-based Reitar Logtech Holdings intends to purchase $1.5 billion worth of Bitcoin as a hedge against volatility in traditional markets and to increase financial stability. No specific purchase dates have been announced.

Binance founder Changpeng Zhao has spoken about the risks associated with the widespread creation of corporate reserves based on Bitcoin. According to him, they are ‘non-binary and range from 0 to 100.’ However, it is possible to achieve an optimal risk/return ratio with the right balance. (FxPro)

News

The boiling point of the US labour market

Alternative employment data points to a sharp slowdown ahead of Friday's official employment report. ADP reports private sector employment growth of 37K, the lowest since March 2023 and well below the 6- and 12-month averages of around 150K.

Judging by this indicator, the US private sector labour market may be close to boiling point, where it was last seen for about a year from the first quarter of 2019 when the increase was barely noticeable. Employment is close to full capacity, but this is not causing wage growth to accelerate or fuelling inflation.

According to another report, the US services sector moved into contraction last month, as the ISM index fell to 49.9 from 51.6 a month earlier. Tariff uncertainty in April and May appears to be the main reason why order components are pulling the index down.

At the same time, the main obstacle to the Fed cutting rates remains, as the price component stands at 68.7 (the highest since November 2022), with prices rising in 16 out of 18 sectors. Earlier this week, the manufacturing ISM also reported some of the highest price growth rates since the beginning of 2022.

Most likely, the Fed will prefer to pause rather than move to easing policy, as the US president demands based on the data released. In theory, this is bearish news for the markets, but they are rising in the hope that the planned call on Friday between the leaders of the two largest economies will reverse the trend of recent months. (FxPro)

News

Cryptocurrency News

Bitcoin Market Dynamics: Bitcoin’s circulating supply is tightening, potentially setting the stage for price surges due to growing demand, as noted in Sygnum Bank’s June 2025 Monthly Investment Outlook. Bitcoin recently hit a high of $112,000 in May but dipped to $103,500 by late May, with analysts predicting it could reach $118,000 by June 30, 2025, if bullish momentum continues. Some forecasts suggest Bitcoin could climb to $175,000 in 2025 or even $250,000, driven by institutional demand and pro-crypto regulations, though bearish trends remain a risk.

XRP Price Volatility: XRP, after a 255% surge from November 2024 to January 2025, has fallen 34% from its January peak of $3.31. Analysts suggest it could break above $2.20 soon, with some predicting a potential rise to $5.81 in 2025 due to institutional adoption, while others warn of a possible delay in a bull run until November 2025.

Trump-Branded Crypto Ventures: A Trump-branded crypto wallet, the “Official $TRUMP Wallet,” was announced, but Trump’s sons distanced the family from it, highlighting rifts in their crypto ventures. The wallet, linked to the $TRUMP meme coin, allows trading of various cryptocurrencies and offers a $1 million reward sweepstakes for waitlist signups. Critics raise concerns about regulatory conflicts given Trump’s role in crypto oversight.

Stablecoin and ETF Developments: Stablecoin legislation is gaining traction, with the U.S. Senate advancing the GENIUS Act to regulate stablecoins, potentially boosting their adoption. Bitcoin ETFs saw $5.6 billion in inflows in May, with a 3-for-1 share split planned for the ARK 21Shares Bitcoin ETF on June 16 to make it more accessible. U.S. BTC and ETH spot ETFs also reported inflows of $139.93 million and $109.43 million, respectively, on June 3.

Security and Regulatory Shifts: The SEC dropped its lawsuit against Binance, signaling a crypto-friendly stance under the Trump administration. However, a Coinbase customer data leak linked to an outsourcing company, known since January, may have cost up to $400 million. Additionally, “wrench attacks” combining cybercrime and physical theft are rising, with a notable case involving an Italian crypto trader in New York.

Other Crypto Updates: Pi Network’s price has dropped over 75% since February, with predictions it could fall to $0.40 unless transparency improves, despite a new game app launch. Pakistan allocated 2,000 megawatts to support Bitcoin mining and AI data centers, aiming to legalize crypto and attract investment. Conversely, China’s tightened restrictions on crypto ownership led to a $61 billion market cap dip.

Sentiment on X: Posts on X reflect optimism for crypto, with some claiming Bitcoin could hit $130,000 if not for market scares like China’s restrictions. Others highlight Pi Network’s potential, with speculative claims of it reaching $5 soon. (Grok)

News

Markets: Recap

ASX futures down 2 points to 8563

Australian dollar +0.5% to 64.94 US cents

Wall Street:
S&P 500 flat
Dow Jones -0.2%
Nasdaq +0.3%
Europe:
Stoxx 50 +0.6%
FTSE +0.2%
DAX +0.8%
CAC +0.5%

Bitcoin -1% to $US104,749
Spot gold +0.6% to $US3372.65 per ounce
US Oil -1.1% to $US62.74 a barrel
Brent crude oil -1.2% to $US64.85 a barrel
Iron ore +1.1% to $US95.35 per ton
10-year yield: US 4.35% Australia 4.25% Germany 2.52%

News

Best Quotes Of The Day

"Bitcoin is a tool for freeing humanity from oligarchs and tyrants, dressed up as a get-rich-quick scheme." — Naval Ravikant

"We have elected to put our money and faith in a mathematical framework that is free of politics and human error." — Tyler Winklevoss

"You can't stop things like Bitcoin. It will be everywhere, and the world will have to readjust. World governments will have to readjust." — John McAfee

"Bitcoin is the most important invention in the history of the world since the Internet." — Roger Ver

"Cryptocurrency is such a powerful concept that it can almost overturn governments." — Charles Lee

"In the future, national currencies will become obsolete. Bitcoin will become the single global currency." — Jack Dorsey

"The future of finance is crypto, whether it’s in payments, contracts, or savings." — Changpeng Zhao

"Crypto offers freedom to the unbanked and hope to the underprivileged." — Elizabeth Stark

"The new frontier of innovation is in decentralization. Blockchain leads the charge." — Don Tapscott

"Digital currency is here to stay, and it’s only a matter of how long before governments embrace it." — Brad Garlinghouse

Cryptos Today: (Near Live)

May 13, 2025
Sydney, Australia

Bitcoin $102,452.96 USD -1.57%
ETH $2,473.59 USD -1.39%
Tether $0.9993 USD -0.10%
XRP $2.53 USD +7.21%
BNB $662.27 USD +1.78%
Solana $172.50 USD -0.12%
USD Coin $0.9993 USD -0.07%
Dogecoin $0.2295 USD -1.04%
Cardano $0.8162 USD +0.72%
TRON $0.2732 USD +3.10%
Wrapped Bitcoin $102,406.50 USD -1.66%

News

Cryptocurrency News

Bitcoin Price Surge: Bitcoin has surpassed $100,000, briefly touching $105,000, driven by optimism around global trade deals, particularly U.S.-U.K. agreements and ongoing U.S.-China talks. Analysts warn of a potential short-term sell-off ahead of the May 13 CPI print, with BlackRock noting quantum computing as a risk for Bitcoin ETFs.

Ethereum Rally: Ethereum (ETH) has surged over 44% in three days, reaching $2,600, fueled by the Pectra network upgrade and declining Bitcoin dominance. Analysts speculate ETH could hit $10,000 or even $12,000 in 2025 due to institutional adoption, DeFi growth, and a high ETH burn rate.

Altcoin Momentum: Altcoins like Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) are rallying, with DOGE up 27% and ETH leading with a 32% weekly gain. Bitcoin’s dominance has dropped to 63.89%, signaling a potential altcoin season.

Meta’s Crypto Plans: Leaked reports suggest Meta is exploring cryptocurrency support for its 3 billion users, potentially integrating stablecoins for creator payments, which could boost market sentiment.

Regulatory Developments: SEC Chairman Paul Atkins is prioritizing a rational crypto regulatory framework, with XRP noted as the only regulated cryptocurrency in the U.S. However, a bipartisan stablecoin bill (GENIUS Act) stalled due to concerns over Trump’s personal crypto ventures, raising conflict-of-interest issues.

Market Inflows: Crypto investment products saw $882 million in inflows last week, with U.S. crypto ETFs hitting a record $62.9 billion in cumulative net inflows since January 2024. BlackRock’s Bitcoin ETF recorded a 19th consecutive day of inflows on May 9.

Other News: Coinbase acquired Deribit for $2.9 billion, expanding its derivatives offerings. New Hampshire passed a law allowing state investment in cryptocurrencies. France’s rumored crypto ban was mentioned on X but lacks credible confirmation and should be treated as speculative. (Grok)

Blockchain News

Meta’s Blockchain Push: Meta is reportedly exploring a blockchain-based payment system, potentially offering low-cost digital transfers. This follows their unsuccessful Diem project, signaling renewed interest in blockchain integration.

Crypto in Education: Animoca Brands’ Yat Siu highlights blockchain’s potential in education, particularly through DeFi student loan financing. Ripple’s $25 million donation to a crypto education fund underscores growing academic influence.

XRP and Interoperability: XRP is expanding into multichain interoperability, connecting with Cosmos and EVM sidechains. With 200+ financial partners, it aims to bridge traditional finance and crypto ecosystems.

Avalanche and Web3 Gaming: Avalanche’s John Nahas emphasizes blockchain as seamless backend infrastructure for gaming, citing examples like Gunzilla Games’ “Off the Grid,” which leverages blockchain for user ownership.

Policy Shifts: The Trump administration is driving a pro-crypto agenda, with plans to integrate blockchain into financial systems. Bank regulators are exploring blockchain-based payment systems, a stark contrast to previous skepticism.

Robinhood’s Blockchain Platform: Robinhood is developing a blockchain-based platform for trading tokenized US securities in Europe, potentially partnering with Arbitrum or Solana.

Ethereum’s Pectra Upgrade: Ethereum’s latest upgrade introduces features like smart wallets and lower fees but has raised concerns about a new attack vector that could allow hackers to drain funds.

Other Developments: Brave is integrating Cardano into its browser wallet, and MBS Global plans a $9 billion blockchain financial hub in the Maldives.

For real-time updates, platforms like Cointelegraph or CryptoSlate on X are active sources,

News

Crypto market slows down, nearing a top

Market Picture

The crypto market slowed down but continued to move upwards over the weekend, reaching $3.35 trillion. For the past few days, it has been trading in the region of the highs since early February. Ethereum and Dogecoin have been the stars of this movement, adding around 40% in seven days, although the former's contribution is certainly more significant.

The crypto market's sentiment is consolidating in the greed zone, leaving the corresponding index at 70 for the last three days. This is a good basis for continued gains: not too hot to take profits and not too cold to leave traders on the sidelines.

Bitcoin rallied above $105.5k on Monday morning, entering the area of highs where it has twice failed to hold over the past six months. The impressive corrective pullback from late January to early April, in our opinion, created substantial margin for a new wave of growth. Therefore, we will not be surprised if, along with the positive dynamics of stocks, BTCUSD will move to the renewal of historical highs already this week.

News Background

On the weekly bitcoin chart, after the upward breakout of the ‘bull flag’ pattern, a further rise to $182,000 is possible, given the growth before the downward consolidation. Cointelegraph presented such a scenario.

Significant inflows into spot bitcoin ETFS in the US continued for the third week in a row. According to SoSoValue data, weekly net inflows into spot BTC-ETFS totalled $921 million, bringing the total to $41.16 billion since bitcoin-ETFS were approved in January 2024.
Inflows into spot Ethereum-ETFS in the US broke after two weeks, recording a small net outflow of $38.2 million to $2.47 billion since last July.

Cryptoquant noted that the strategy firm's pace of bitcoin purchases exceeds the rate at which miners are issuing new coins. The firm's holdings alone imply an annual deflation of the asset of 2.23%.

Public mining companies sold about 70% of mined bitcoins in April against a falling mining profitability, TheMinerMag calculated. Since March, miners seemed to be moving away from the HOLDing strategy that had prevailed last year.

Over the years, Coinbase has considered investing a significant portion of its savings in bitcoin, following the example of Strategy, but abandoned the idea because of the risks, said Brian Armstrong, head of the exchange. (FxPro)

News

Markets

ASX futures are pointing up 97 points/1.2% to 8364

AUD -0.0% to US63.70¢

Bitcoin -1.6% to $US102,525
Wall St:
Dow +2.8% S&P +3.3% Nasdaq +4.4%
VIX -3.51 to 16.03
Gold -0.03% to $US3235.57 an ounce
Brent oil +1.8% to $US65.03 a barrel
Iron ore +3.2% to $US100.00 a ton
10-year yield: US 4.47% Australia 4.36%

News

May 12, 2025

Investors ramp up crypto spree as bitcoin nears record high

Australian investors have pounced on the plunge in bitcoin earlier this year and have been ramping up exposure to the cryptocurrency in a bold bet that could pay off handsomely, with analysts tipping prices to hit $US200,000 this year.

The world’s largest digital asset crossed the key $US100,000 level last week for the first time since February. Bitcoin extended that rally on Monday to trade near $US105,000, just shy of its record of around $US109,000 on January 20 – the day US President Donald Trump was inaugurated.

It represents a stunning turnaround for the cryptocurrency, which traded as low as $US74,000 in early April amid Trump’s escalating trade war. But sentiment started to shift as traders hunted for alternatives to US assets as they questioned the stability of the world’s largest economy.

“Bitcoin appeared to benefit from capital rotation associated with ‘sell-America’ positioning and growing scepticism around US monetary dominance,” Global X investment analyst Justin Lin told The Australian Financial Review after upgrading his year-end price target to $US200,000.

The trend was reinforced by a resurgence in global bitcoin exchange-traded funds in April, with investors adding $US2.9 billion ($4.5 billion) to those vehicles. That marked a sharp reversal from February and March, when more than $US5 billion in total was pulled from the space.

A further $US1.58 billion of flows moved into global bitcoin ETFs in the first eight days of May, according to US-listed crypto exchange Coinbase.

In Australia, local ETFs have attracted $148 million in inflows so far this year – more than double compared to the same period in 2024.

And unlike the US, Australian investors have been consistent buyers throughout this year. Local bitcoin ETFs experienced $6.9 million of inflows in March and $20.5 million in new flows in April, according to Global X.

Trump gala

The second-largest digital token, ethereum, has also been swept up in last week’s rally, surging as much as 33 per cent in its steepest weekly gain since 2021, when low interest rates fuelled the pandemic-era crypto boom.

While ether has benefited from easing global trade tensions, the token was boosted by a network upgrade designed to reduce fees, improve network efficiency and enable more complex wallet functionalities – moves seen as necessary to fend off competition from faster-growing rivals like solana.

Trump has become an advocate of digital assets during his second term by rolling back legal actions against many companies in the sector, establishing a bitcoin reserve, easing regulation and even launching his own memecoin.

The president is due to host a private gala dinner on May 22 with the top 220 holders of the Trump memecoin, an event that could mark a “turning point” for the broader cryptocurrency market, according to Global X’s Lin.

“[The event’s] symbolic value is significant,” he said. “It could serve as a launchpad for broader crypto-friendly rhetoric and possibly renewed regulatory commitments. Any such pivot would inject momentum into the sector.” (AFR) *Full article and coverage via subscription to The Australian Financial Review.

News

Cryptocurrency Movies

Here’s a concise rundown of notable cryptocurrency-themed movies and documentaries, blending education and entertainment, based on their relevance to blockchain, Bitcoin, and digital currencies:

Documentaries

The Rise and Rise of Bitcoin (2014)
Follows early Bitcoin adopters like Daniel Mross, exploring Bitcoin’s origins, volatility, and potential to disrupt finance. Insightful for understanding the early crypto community. Available on various streaming platforms.

Banking on Bitcoin (2016)
Chronicles Bitcoin’s ideological roots and its impact on financial systems, featuring interviews with key crypto figures. Great for grasping Bitcoin’s societal implications. Available on Netflix and other platforms.

Trust Machine: The Story of Blockchain (2018)
Explores blockchain’s broader applications beyond cryptocurrency, demystifying the technology’s potential. Funded and distributed via blockchain, it’s a unique watch. Available on Prime Video.

Bitcoin: The End of Money as We Know It (2015)
A 60-minute dive into the history of money and Bitcoin’s role in challenging centralized finance. Features experts like Vitalik Buterin. Streamable on platforms like YouTube.

Trust No One: The Hunt for the Crypto King (2022)
A Netflix documentary investigating the mysterious death of QuadrigaCX CEO Gerry Cotten and the $250 million in missing investor funds. Gripping for scam enthusiasts.

Biggest Heist Ever (2025)
A Netflix documentary detailing the 2016 Bitfinex hack, where 120,000 Bitcoin (worth over $4 billion) were stolen. Focuses on Heather Morgan (aka Razzlekhan) and Ilya Lichtenstein. A fresh take on crypto crime.

Feature Films

Crypto (2019)
A crime thriller starring Beau Knapp, Luke Hemsworth, and Kurt Russell. Follows a Wall Street banker uncovering a cryptocurrency-fueled money laundering scheme in his hometown. Critically mixed but engaging for drama fans. Available on Google Play and Prime Video.

Silk Road (2021)
A crime drama about Ross Ulbricht and the dark web marketplace Silk Road, where Bitcoin was the primary currency. Explores the legal and ethical complexities of crypto in illicit markets. Available on streaming services like Fandango.

Dope (2015)
A coming-of-age comedy-drama where high schoolers use Bitcoin for a dark web drug transaction. Not crypto-centric but an early mainstream nod to Bitcoin’s cultural presence. Streamable on Netflix.

Bitcoin Heist (2016)
A Vietnamese action-comedy about undercover agents chasing a crypto hacker, “The Ghost.” Blends suspense and humor, offering a lighthearted take on crypto crime. Available on Prime Video.

Why Watch These?
These films range from educational documentaries to thrilling fictional tales, reflecting crypto’s rise, scandals, and societal impact. Documentaries like Banking on Bitcoin and Trust Machine are ideal for learning about blockchain’s mechanics and potential, while thrillers like Crypto and Silk Road dramatize the risks and allure of digital currencies. For 2025, Biggest Heist Ever is a must-watch for its fresh perspective on a massive crypto theft.

Where to Watch

Most are available on Netflix, Prime Video, Google Play, or Fandango. Check specific platforms for availability in your region. (Grok)

News

Bitcoin Movies On Netflix

Netflix currently offers a few movies and documentaries focused on Bitcoin and cryptocurrency. Here are the most notable ones available as of my last update:

Bitconned (2024) - A true-crime documentary about three individuals who exploited the cryptocurrency market, scamming millions from investors to fund lavish lifestyles. It dives into the darker side of crypto with a focus on the Centra Tech scam. [IMDb: 6.5]

Trust No One: The Hunt for the Crypto King (2022) - This documentary explores the mysterious death of Gerald Cotten, founder of the QuadrigaCX exchange, and the $250 million in investor funds that vanished. It follows investors turned amateur detectives unraveling the scandal. [IMDb: 6.3]

Hotel Bitcoin (2024) - A Spanish comedy film where four friends discover a fortune in lost bitcoins, sparking a chaotic adventure to protect their windfall and friendships. It’s a lighter, fictional take on Bitcoin’s allure.

Biggest Heist Ever (2024) - A documentary covering the Bitfinex hack, where a couple, dubbed the "Bitcoin Bonnie and Clyde," allegedly laundered nearly 120,000 bitcoins. It’s a deep dive into one of crypto’s most infamous crimes.

Crypto Boy (2023) - A Dutch drama about a young man drawn into the world of cryptocurrency after a fallout with his father, exploring themes of ambition and deception. It’s more character-driven than educational.

Notes:

Availability may vary by region, so check Netflix in your area.

Some older Bitcoin documentaries, like Banking on Bitcoin or The Rise and Rise of Bitcoin, are not currently on Netflix but may be available on other platforms like Amazon Prime or YouTube.

For a broader list, posts on X also mention Bitcoin: The End of Money as We Know It and The Blockchain and Us, but these are not confirmed on Netflix at this time. (Grok)

News

Memecoins Today:

Memecoins are seeing significant activity today, May 13, 2025, with several coins rallying and ongoing controversies shaping market sentiment. Here's a concise overview based on recent developments:

Market Performance:

Dogwifhat (WIF), Book of Meme (BOME), and FLOKI are extending double-digit rallies, driven by a risk-on sentiment in crypto markets following US-China tariff reductions. Technical indicators suggest potential for further gains.

Moo Deng, a Solana-based memecoin, surged 153% in the past 24 hours, fueled by institutional demand for SOL and retail interest after Bitcoin’s rally above $103,000.

FLOKI is highlighted on X as a top performer, with posts suggesting it could lead the memecoin rally alongside DOGE, SHIB, and PEPE.

Political and Controversial Developments:

Trump’s $TRUMP Memecoin: The coin remains in the spotlight due to a May 22 dinner for top holders at Trump’s Virginia golf club, sparking ethical concerns and political backlash. The coin surged over 50% after the announcement, reaching a $2.7 billion market value, though 764,000 investors have lost money compared to 58 wallets profiting significantly.

Melania’s $MELANIA Memecoin: Launched January 19, it saw sniper traders earn $99.6 million by buying minutes before its public announcement. The team recently sold $1.5 million in tokens, amid a weakening memecoin market.

Legislative Pushback: Senate Democrats blocked stablecoin legislation due to controversies surrounding Trump’s crypto ventures. Proposed bills, like the End Crypto Corruption Act, aim to ban presidents and officials from issuing digital assets to curb potential conflicts of interest.

Market Sentiment:
X posts reflect active interest in memecoins, with users seeking recommendations and shilling coins like FLOKI and letsBONK. However, some posts highlight the speculative nature, describing pump-and-dump cycles.

Discussions on memecoins hit a year-to-date high, shifting focus from Bitcoin and layer-1 protocols, though some argue the memecoin frenzy is cooling as stablecoins gain traction on Solana.

Broader Context:

Memecoins face criticism for lacking intrinsic value, with some viewing them as celebrity-driven schemes. However, advocates suggest AI agents could drive a “memecoin renaissance” by adding utility.

The $TRUMP token’s performance has been lackluster compared to its peak, with onchain activity spiking after the dinner announcement but still down 79% from its all-time high.

Critical Note: While memecoins are rallying, their volatility and speculative nature carry significant risks. The political ties to certain coins, especially $TRUMP, raise ethical and legal questions, potentially influencing market stability. Always verify information, as X posts can contain unverified claims, and memecoin investments are highly speculative. (Grok)

Bull Market: Def

"Bull market" describes a financial market where prices are rising or are expected to rise. It commonly refers to the stock market but can be applied to anything that is traded, such as bonds, real estate, currencies, and commodities.

Markets and Cryptos

May 7, 2025
Sydney, Australia

Markets

ASX futures down 23 points/0.3% to 8146

AUD +0.3% to US64.87¢

Bitcoin flat at $US94,534

Wall St:
Dow -1.0%
S&P -0.7%
Nasdaq -0.9%
VIX +1.18 to 24.82
Gold +2.4% to $US3414.77 an ounce
Oil +3.4% to $US62.26 a barrel
Iron ore +1.2% to $US97.70 a tonne
10-year yield: US 4.31% Australia 4.33%

News

Bitcoin. $95,096. 2.41%
Ethereum. $1,789.65. 1.60%
Tether. $1.99. +0.16%
XRP. $2.14. -0.46%
BNB. $599.88. 0.05%
Solana. $144.79. 1.351%

News

Crypto News Today

Bitcoin Price Outlook: Binance founder Changpeng "CZ" Zhao predicts Bitcoin could reach $500,000 to $1 million this market cycle, citing institutional adoption, government accumulation, and pro-crypto U.S. policies. Bitcoin is currently trading around $94,376, with some analysts forecasting a 2025 high of ~$168,000.

Florida Bitcoin Reserve Bills Withdrawn: Florida’s House Bill 487 and Senate Bill 550, which aimed to establish a state Bitcoin reserve, were withdrawn from consideration on May 3, marking a setback for state-level crypto initiatives.

Trump Family Crypto Ventures: The Trump-affiliated World Liberty Financial (WLFI) is gaining traction. Its stablecoin, USD1, is being used for a $2 billion investment by Abu Dhabi’s MGX into Binance. The Trump family’s crypto activities, including a $TRUMP meme coin, have sparked Senate backlash, with Democrats raising concerns over conflicts of interest and pushing for stricter stablecoin regulations.

BNB ETF Filing: VanEck has filed for the first U.S. BNB exchange-traded fund, which could stake BNB tokens, signaling growing institutional interest in Binance’s native token.

Crypto Market Trends: Bitcoin remains steady at ~$93,831, while Ethereum (ETH) and XRP are seeing slight declines. Analysts suggest ETH may outperform XRP in May due to stronger technical setups. The broader crypto market cap dipped slightly, with mixed altcoin performance.

Regulatory and Institutional Moves: Morgan Stanley plans to offer crypto trading on its E*Trade platform by 2026. U.S. banks no longer need Federal Reserve notification for crypto activities, a significant regulatory win.

Crypto-Related Crime: French police rescued the father of a crypto entrepreneur kidnapped for ransom, highlighting a rise in crypto-related abductions in France. (Grok)

News

Blockchain News Today

Ethereum Pectra Upgrade: Ethereum’s mainnet is undergoing the Pectra upgrade today, marking its most significant code change since the Merge in 2022. This upgrade includes 11 Ethereum Improvement Proposals (EIPs) aimed at enhancing user-friendliness, staking experiences, wallet features, and overall blockchain efficiency. Originally planned for 2024, the upgrade was delayed due to its complexity.

Crypto Market Trends: As of May 6, Bitcoin remains stable at around $93,831, while Ethereum and XRP have seen slight declines. Analysts are watching for potential bigger moves in 2025, with Bitcoin predicted to possibly hit $167,598.22 this year and surpass $900,000 by 2030, driven by increased adoption and whale activity.

Maldives Blockchain Hub: A $9 billion blockchain hub project in the Maldives is gaining attention as a transformative initiative for the region’s crypto ecosystem, highlighting blockchain’s growing global infrastructure.

Tether’s AI Platform: Tether’s CEO, Paolo Ardoino, has unveiled a new AI platform with crypto payment support, building on their December 2024 announcement. This move signals further integration of blockchain with AI technologies.

Regulatory Shifts: Recent U.S. policy changes allow banks to offer Bitcoin and crypto services without Federal Reserve notification, a significant win for crypto adoption. This has sparked bullish sentiment, particularly for Ethereum, which is seen as a hub for stablecoin and onchain services.

Worldcoin’s U.S. Expansion: Sam Altman’s Worldcoin is deploying biometric “orbs” in U.S. cities to streamline crypto wallet security, aiming to make transactions more user-friendly and secure.

News

The US ran a record trade deficit in March. It will be worse in April

In March, the US trade deficit with other countries reached unprecedented levels, driven by a rush to purchase goods ahead of anticipated tariffs. This surge comes amidst the backdrop of the US President’s striking ‘America’s Liberation Day’ tariff announcement, with retaliatory tariffs following in April.

The trade deficit is an important fundamental pressure factor on the dollar, and it promises to become even stronger in April’s data. As a result, we are seeing temporary anomalies in the import numbers, which have been on a tear since December, adding over 27% to March last year.

Exports, on the other hand, are still within the trend of the last three years, adding 6.7% YoY to $278.5bn. Still, it doesn’t quite match the record-breaking $140.5 billion deficit and $419 billion in imports.

These alarming numbers are likely just a preview, with a downturn expected in the coming months—though it will probably be less dramatic. This will give the illusion that tariffs are working. However, it’s more accurate to take a long-term view, factoring in both the unusual spike in imports and the potential drop that may follow. It would not be surprising if the net effect is very controversial. (FxPro)

News

Gold News Today

Gold prices rose to a two-week high on Tuesday, May 6, 2025, driven by post-holiday buying from China and concerns over potential U.S. tariffs on pharmaceutical imports. Spot gold gained over 2%, reaching around $3,317 per ounce, supported by a weaker U.S. dollar and safe-haven demand. Investors are focused on the Federal Reserve’s policy meeting outcome on May 7, as higher interest rates typically reduce the appeal of non-yielding gold. In India, 24-carat gold prices climbed to ?95,740 per 10 grams, while silver saw a slight decline to ?96,900 per kilogram. Geopolitical tensions, including Middle East conflicts, and uncertainty over U.S.-China trade talks continue to bolster gold’s appeal.

Markets and Cryptos

Markets:

April 23, 2025

ASX futures up 103 points/1.3% to 7939
AUD -0.7% at US63.68¢
BTC +4.5% to $US91,358
Dow +2.7%
S&P +2.1%
NAS +2.5%
Gold -1.5% to $US3371.27 an ounce
Oil +1.5% at $US67.22 a barrel
Iron ore -0.7% at $US98.65 a ton

Cryptos Today:

Bitcoin $91,075.31 USD +4.29%
ETH $1,695.23 USD +7.53%
Tether $1.00 USD -0.02%
XRP $2.16 USD +3.57%
BNB $607.70 USD +1.95%
Solana $144.34 USD +5.47%
USD Coin $0.9994 USD -0.08%
Dogecoin $0.1728 USD +9.13%

Profiles

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Cryptocurrency, Fintech, Biz, Metals, Comms and News

Cryptos Today:

BTC-USD. 85279.47. ( +2.25% )
AAPL. 198.15. ( +4.06% )
XRP-USD. 2.16. ( +6.66% )
ETH-USD. 1643.50. ( +4.87% )
SOL-USD. 132.26. ( +8.83% )

News

Crypto and gold are both alternative assets, but they differ significantly:

Crypto (e.g., Bitcoin, Ethereum):
Pros: Decentralized, high growth potential (Bitcoin up ~100% in past year as of Apr 2025), borderless transactions, tech-driven (blockchain). Some coins like Bitcoin have capped supply, mimicking scarcity.

Cons: Volatile (prices can swing 10-20% daily), regulatory uncertainty, energy-intensive (Bitcoin mining uses ~150 TWh annually), no physical backing, vulnerable to hacks/theft.

Use case: Speculative investment, digital payments, store of value for some.

Gold:
Pros: Stable (less volatility, ~10-15% annual return long-term), tangible, universal acceptance, inflation hedge (retains value over centuries), no counterparty risk.

Cons: Low growth (underperforms stocks/crypto in bull markets), storage costs, no yield (doesn’t generate income), less liquid for small transactions.

Use case: Safe-haven asset, portfolio diversification, jewelry/industrial demand.

Data point: As of Apr 2025, Bitcoin’s market cap ($1.5T) is ~10% of gold’s ($15T). Gold’s price is ~$2,600/oz, up 30% in 2 years; Bitcoin’s ~$75,000, up 150% in same period.

Verdict: Crypto offers higher reward/risk, suits tech-savvy speculators. Gold’s for stability, long-term wealth preservation. Mix depends on risk tolerance—younger investors lean crypto, conservatives prefer gold. (Grok)

News

China Raises Tariffs on U.S. Goods to 125% Amid Trade War

China has announced an increase in tariffs on all U.S. imports from 84% to 125%, effective April 12. This move is seen as a retaliation to the United States' earlier imposition of a 145% tariff on Chinese goods. The escalation marks a significant development in the ongoing trade war between the two nations, with potential implications for global trade dynamics and economic relations. (Grok)

News

ChatGPT Enhances Memory with 'Moonshine' Feature

OpenAI has introduced an update to ChatGPT that enhances its memory capabilities, allowing the AI to reference all past conversations to provide more personalized responses. This feature, known as 'Moonshine', is rolling out to Plus and Pro users globally, except in the EEA, UK, Switzerland, Norway, Iceland, and Liechtenstein. Team, Enterprise, and Edu users will gain access in the coming weeks. Users have the option to opt out of this feature at any time through the settings, maintaining control over their data and privacy. (Grok)

News

Crypto helped by dollar weakness

April 11, 2025

Market Picture

Crypto market capitalisation remained at $2.59 trillion on Friday morning, in line with the previous day's values, despite a dip to $2.50 trillion overnight and a subsequent recovery on Friday morning. This contrasts with the slide in stock indices because a falling dollar supports cryptocurrencies. Like a rising tide, the dollar's decline is lifting other assets.

Sentiment in the crypto market has returned to the extreme fear zone, sending the index to the 25 level.
Bitcoin has been rising since early Friday, climbing above $81.4K, after closing just below $80K on Thursday. However, the first cryptocurrency has yet to confirm a growth reversal. The key area along the way is the $85K level, where the 50-day moving average passes. Its overcoming will be an important confirmation of the bullish sentiment, while fluctuations below it will remain market noise.

XRP and Tron found support this week on the decline to the 200-day moving averages. This small but encouraging signal suggests that market participants are still adhering to a ‘buy on dips’ strategy, believing in the continuation of the bullish trend.

News Background

• A combination of on-chain metrics and technical indicators point to the need for Bitcoin to return above $93K to regain upward momentum, Glassnode noted. The correction has intensified selling by medium-term holdings, but their activity is slowing.

• New Bitcoin sell-offs are possible in the coming weeks, but the bear market is likely to start in September, according to ‘il Capo of Crypto’. The analyst attributes this to the expected process of ‘global economic reset’, which may be accompanied by a major crisis - the first in BTC history.

• The US Senate has approved the nomination of Paul Atkins to the post of SEC chairman. He is expected to focus on developing permanent standards for the regulation of digital assets.

• The SEC authorised the listing and trading of options on spot Ethereum-ETFs from BlackRock, Bitwise and Grayscale. In September, the regulator already gave a similar authorisation for derivatives based on BTC-ETFs.

News

Top 10 Memecoins This Week

Here's a list of the top 10 memecoins trending this week, based on market performance, community engagement, and recent price action as of April 13, 2025. Note that memecoin rankings can shift rapidly due to volatility and hype, so always do your own research before investing:

Dogecoin (DOGE)
Still the king of memecoins, holding strong with a massive community and consistent market cap dominance. Recent price stability keeps it at the top.
Market Cap: ~$1.65T

Shiba Inu (SHIB)
A long-time favorite, SHIB has seen renewed interest with ecosystem updates like Shiba Name Service. Its 300% weekly rally earlier this year lingers in investor memory.
Market Cap: ~$15B

Pepe (PEPE)
The frog meme coin continues to thrive, driven by viral social media buzz and a loyal community. It’s a top pick for speculative traders.
Market Cap: High-ranking, exact figures fluctuate

Official Trump (TRUMP)
Launched in January 2025, this Solana-based coin tied to Donald Trump has exploded due to political hype and exchange listings.
Market Cap: ~$38B

Bonk (BONK)
Solana’s dog-themed memecoin remains a community darling, with integrations across DeFi and NFTs boosting its appeal. Up 2.01% this week.
Market Cap: ~$2.3B

Floki Inu (FLOKI)
Evolving from a meme to a Web3 project with NFT and DeFi utility, Floki stays relevant with strong marketing and Elon Musk ties.
Market Cap: Growing steadily

dogwifhat (WIF)
A Solana-based memecoin with quirky branding, WIF rides the wave of dog-themed coin popularity and DEX trading volume.
Market Cap: Competitive in top 10

Fartcoin (FARTCOIN)
A humorous Solana coin gaining traction for its absurd branding. Up 35% recently, showing the power of meme-driven pumps.
Market Cap: ~$475M at $0.4755

SPX6900 (SPX)
Ethereum-based coin with a “flip the stock market” slogan. Its 8000% surge late last year keeps it in the spotlight.
Market Cap: ~$860M

Pudgy Penguins (PENG)

A newer entrant leveraging NFT community hype, PENG combines cute branding with growing exchange availability.

Market Cap: Rising fast
Notes:

Rankings are based on recent data and sentiment from sources like CoinGecko, CoinMarketCap, and X posts, but exact positions vary by source. Memecoins are highly speculative, and prices can crash as fast as they pump.

I avoided obscure coins like $FRADWARD or $RETARDIA mentioned on X, as they lack verified traction and could be pump-and-dump schemes.

Always check real-time data on exchanges like Binance, Coinbase, or DEXs like PancakeSwap, as memecoin volatility is extreme.

News

Dogecoin wins Media Meme 'Memecoin Of The Month' award

News Flashback

AFP Press Release

March 20, 2025

Australian victims warned over rising cryptocurrency exchange impersonation scams

This is a joint media release between the Australian Federal Police, National Anti-Scam Centre, and Binance Australia

Editor's note: Scam text example image available via Hightail.

Authorities have hit send on a text and email blitz to warn Australian cryptocurrency customers about scammers impersonating a high-profile exchange.

The National Anti-Scam Centre (NASC), in partnership with the AFP-led Joint Policing Cybercrime Coordination Centre (JPC3), has today (20 March, 2025) reached out to more than 130 potential victims alerting them to the impersonation scam targeting the Binance cryptocurrency exchange.

They were identified through messages found on an end-to-end encryption platform.

In scams similar to what is seen in traditional finance, targets were allegedly contacted via SMS and encrypted messaging platforms by someone claiming to be a Binance representative who said their cryptocurrency accounts had been breached.

The messages allegedly contained fake verification codes and were often 'spoofed', meaning they appeared in a legitimate existing message thread from the well-known cryptocurrency exchange.

A support phone number was also sent, but when the targets called it, they were instructed to protect their accounts by transferring their cryptocurrency to a 'trust wallet', which was controlled by the scammer and allowed the assets to be stolen.

Under Operation Firestorm, a global operation launched in 2024 to address and disrupt offshore organised crime networks deceiving Australians through romance, cryptocurrency and investment scams, the JPC3 identified more than 130 Australian-based victims targeted by the crypto scam through collaboration with foreign law enforcement partners.

AFP Commander Cybercrime Operations Graeme Marshall said once the funds were transferred to an account controlled by scammers, they were generally quickly transferred through a network of wallets and money laundering accounts making seizure or recovery difficult.

"The AFP has worked closely with our partners at the NASC to ensure any victims in Australia targeted by these scammers were identified swiftly and given advice to help protect their cryptocurrency accounts," Commander Marshall said.

"Anyone who received an SMS or email warning from the NASC must take it very seriously.

"If you have already transferred your cryptocurrency to a so-called trust wallet, report it to your bank or digital currency exchange immediately, then to police via ReportCyber quoting the reference number AFP-068."

Australian Competition & Consumer Commission Deputy Chair Catriona Lowe said impersonation scams had become common, and it was vital that people verified all communications they received, even where they appeared to come from trusted organisations.

"Impersonation scams rely on people trusting that the text, email or phone call they get is legitimate and scammers go to significant lengths to create the appearance of legitimacy," Ms Lowe said.

"We urge all Australians to contact an organisation directly using official contact details from their website or app to verify any communication they receive."

Binance Chief Security Officer Jimmy Su said protecting their users was Binance's top priority, and education was key in the fight against scams.

"Scammers often impersonate trusted platforms — like Binance and others — by exploiting certain telecom loopholes to manipulate sender names and sender phone numbers to create urgency," Mr Su said.

"To stay safe, always verify communications using Binance Verify — our tool to confirm official Binance channels. Never share sensitive information like your seed phrase or transfer funds under pressure. If in doubt, stop and verify through official sources.

"Binance remains committed to working with law enforcement and the community to combat fraud and enhance user security."

Impersonation scams

An impersonation scam occurs when scammers pretend to be trusted businesses, government agencies, law enforcement, or even friends and family to steal money or personal information.

Warning signs

Unsolicited contact from someone claiming to be from Binance, a well-known cryptocurrency exchange, about an 'account breach'.

Pressure to act quickly due to suspicious activity or security concerns.

Being asked to provide sensitive information, such as your seed phrase or account balance.

Unusual requests to transfer money or make payments to a different account under the guise of securing your funds.

Insisting on secrecy and not discussing the matter with family or friends, claiming the situation is sensitive.

Protect yourself

If you receive a call, email or text claiming to be your Digital Currency Exchange (DCE) provider, use the official contact details on your provider's website to confirm the legitimacy of the request.

Don't click on any links or download attachments from unsolicited messages.

Be extremely wary of urgent requests asking you to act immediately.

Keep your devices secure by ensuring your software is always up to date.

Never provide your personal information, particularly your seed phrase.

What to do if you're a victim

Report it to police quoting the reference number AFP-068.

Report it to Scamwatch to help others avoid similar scams.

Stop all communication with the scammer.

Notify your DCE provider.

If you are concerned your identity has been compromised, contact the national identity and cyber support service, IDCARE.

Situations such as this can be upsetting. If you, or someone you know, needs help, we encourage you to contact Lifeline on 13 11 14 or Beyond Blue on 1300 224 636. They provide 24/7 support services.

About the JPC3
The JPC3 brings together Australian law enforcement and key industry and international partners to fight cybercrime and prevent harm and financial loss to the Australian community.

We are committed to equipping all Australians with the knowledge and resources to protect themselves against cybercrime.

Watch our cybercrime prevention videos and protect yourself from being a victim of cybercrime.

If there is an immediate threat to life, or risk of harm, call 000.

If you are a victim of cybercrime, report it to police using Report Cyber.

About the National Anti-Scam Centre (NASC)

The National Anti-Scam Centre (NASC) is run by the ACCC. The NASC promotes and participates in public and private sector collaboration to make Australia a harder target for scams.

The NASC runs the Scamwatch service (http://scamwatch.gov.au) which receives intelligence from the public and provides information about how to spot and avoid scams.

(Credit: Australian Federal Police)

News

Gold Price

Gold extended its rose above the $3,250 per ounce mark on Friday, a new record, lifted by a weaker US dollar and surging demand for safety following further escalation in the US-China trade war. China lifted its tariffs on the US to 125% as of April 12th and stated it will ignore further US responses after a series of increases in tariffs by the White House topped at 145%. The current measures are due to impact nearly $700 billion of goods exchanged between the world's largest economies every year, paring risk assets tied to global growth and supporting inflows into safety. On the monetary policy front, the Federal Reserve gave no indication that it will intervene in policy to cap the surge in long-dated yields, but further evidence of disinflation in the March CPI report supported the case for rate cuts this year, also supporting bullion assets.

News

Best Quotes Of The Day

"Blockchain is the tech. Bitcoin is merely the first mainstream manifestation of its potential." — Marc Kenigsberg

"Blockchain is the biggest opportunity set we can think of over the next decade or so." — Bob Greifeld

"Blockchain is the most disruptive technology I’ve seen in decades." — William Mougayar

"Blockchain will do for trusted transactions what the internet did for information." — Ginni Rometty

"Blockchain is the future of financial transactions." — Blythe Masters

"Blockchain technology is a way to truly democratize power and wealth." — Laura Shin

"Decentralization is the keyword for blockchain’s value proposition." — Vitalik Buterin

"The great thing about blockchain is that it has the potential to create new industries." — Patrick Byrne

"Blockchain’s transparency makes it the perfect tool for accountability." — Balaji Srinivasan

"Blockchain is the backbone of the internet of value." — Don Tapscott

News

Bitcoin Gaming: News

$GAMES Token Surge: The $GAMES token, touted as the first Bitcoin gaming token on http://Gate.io, spiked 35% as it entered price discovery. It's tied to the "Game of Bitcoin" project, stirring buzz around a potential recovery in crypto gaming markets.

Japanese Developer Enish's Bitcoin Move: Enish, a Japanese game developer, bought 100 million yen (~$670,000) worth of Bitcoin to deepen its blockchain gaming expertise. Their game "De Lithe Last Metsoires" already uses blockchain, aiming to enhance gameplay and business models.

Web3 Gaming Momentum: Projects like Big Time Studios and Star Atlas are gaining traction in Web3 gaming, focusing on player ownership and sustainable economies. Star Atlas emphasizes decentralized governance, letting players shape in-game policies, which could integrate Bitcoin or crypto rewards.

Bitcoin Casino Rankings: New 2025 rankings highlight Bitcoin casinos like Ignition, BitStarz, and mBit for no-KYC, fast payouts, and provably fair games. These platforms support Bitcoin alongside other cryptocurrencies, offering slots, poker, and live dealer options.

Play-to-Earn Growth: Play-to-earn (P2E) games like http://Casino.bet Wheel let players earn Bitcoin without deposits, blending simple gameplay with crypto rewards. These models are drawing attention for accessible crypto gaming.

News

ASX News

ASX Metals & Mining:

BHP Group Limited (ASX:BHP): Showed a decrease of 2.25%.
Fortescue Ltd (ASX:FMG): Currently has a positive percentage change.
Rio Tinto (ASX:RIO): Showed a decrease.
Northern Star Resources Limited (ASX:NST): Has a positive percentage change.

Industrial Metals:
Copper (Comex): Showed a positive change of +18.65.
3Mo Copper (LME): Showed a positive change of +166.50.
3Mo Aluminum (LME): Showed a positive change of +26.50.
3Mo Zinc (LME): Showed a positive change of +10.50.

Precious Metals:
Gold: Prices are fluctuating.
Silver: Prices are fluctuating.
Platinum: Prices are fluctuating.
Palladium: Prices are fluctuating

News

Gold: The price of gold is currently around $5,148.58 per ounce in Australian dollars.

Silver: The price of silver is around $51.52 per ounce in Australian dollars.

Crypto, Markets, Comms, News Media and Politics

April 4, 2025

Crypto did not give up trying to find the bottom

Market Picture

The crypto market cap fell below $2.65 trillion twice during the week. The market was below the $2.60 trillion level in November. The ability to consolidate above it was an important signal for the start of the rally. The market will likely defend this, which promises a prolonged battle near these levels. However, the balance is now on the side of the bears as the capitalisation index is moving away from its 200-day average. This is an important signal for large funds to reduce their investments in the sector.

The Cryptocurrency Sentiment Index spent the entire week in fear territory, ending in extreme fear at 25—the lowest level in three and a half weeks. However, these readings are not low enough to suggest oversold conditions, which should discourage sellers.

Bitcoin jumped to $88K in reaction to the tariff announcement, only to soon fall back below $82K. In the short term, it looked like another wave of selling to the upside. We have been seeing this trend since the second half of February. Technically, this is a continuation of the struggle with the major moving averages. The market is failing to consolidate above the 200-day MA, and the 50-day MA stopped rising intraday on Wednesday. As much as crypto enthusiasts would like it to be otherwise, the bears are in control of the market for now.

News Background

Nansen estimates that the crypto market has a 70% chance of forming a local bottom in the next two months amid global uncertainty over trade tariffs.

GameStop raised $1.5 billion by issuing convertible notes. The proceeds will be used to buy Bitcoin and for corporate purposes. The company's management approved the strategy on 25 March.

According to CryptoQuant, in the first quarter of the year, companies around the world added nearly 91,800 BTC (more than $7.7 billion) to their reserves. Meanwhile, selling by long-term investors and capital outflows from bitcoin ETFs prevented the asset from growing.

JPMorgan noted that March was the worst month for miners. The 14 largest US-listed bitcoin miners lost 25% of their market capitalisation (around $6 billion) last month. (FxPro)

News

Metaplanet Boosts Bitcoin Holdings with ¥2.63 Billion

On April 3, 2025, Japanese public company Metaplanet announced it had raised ¥2.63 billion, approximately $17.8 million USD, to purchase additional Bitcoin. This move increased their Bitcoin holdings to 4,206 BTC, following a recent acquisition of $13.6 million worth of Bitcoin. Metaplanet's actions reflect a continued interest in Bitcoin among institutional investors. (Grok)

News

Block Working on Bitcoin Integration for Square Terminals

Jack Dorsey, CEO of Block, has confirmed that the company is actively working to integrate Bitcoin payments into their Square terminals. This initiative aims to enable approximately 4 million merchants who use Square to accept Bitcoin payments. The development is part of a broader effort to enhance the adoption of Bitcoin in mainstream financial transactions, although no specific timeline for the implementation has been provided. (Grok)

News

Oil plummets the most since 2023

Oil tumbled the most since 2023 after suffering a twin hit from President Donald Trump’s tariffs and an OPEC+ decision to increase output faster than previously announced.West Texas Intermediate futures plunged as much as 7.4 per cent to trade below $US67 a barrel, while global benchmark Brent plummeted as much as 6.9 per cent to slip below $US70.Trump’s deluge of tariffs is creating fresh doubts about the outlook for the global economy, with levies against major crude importers such as China and India coming in more aggressive than feared. Although the administration steered away from actions that would directly affect oil markets — such as refraining from measures that would curb flows from Canada and Mexico — concerns that the trade war will sap global energy demand hammered prices.

News

Australia

PM, Dutton vow to reason with Trump

Prime Minister Anthony Albanese said on Thursday that President Donald Trump's decision to impose a 10 per cent tariff on Australian imports is "unwarranted", while Opposition leader Peter Dutton claimed that the "outcome would have been different" if he had been PM. Both Albanese and Dutton said they plan to visit the US if they win the 3 May election to try to persuade Trump to reverse his decision. However, both leaders ruled out negotiating on issues such as Australia's biosecurity ban on US beef and the Pharmaceutical Benefits Scheme, which have been cited by the US as being grievances against Australia. (Roy Morgan Summary)

News

The tiny Australian islands no one expected to draw Trump's fury

Located around 4,000 kilometres south-west of Perth and home to Australia's only two active volcanoes, Heard and McDonald islands are an Australian external territory with no record of any exports to anywhere. However, they have been hit with 10 per cent tariffs as part of US President Donald Trump's 'Liberation Day' tariff impost, while Australian officials were very surprised that he hit Australia's external territory of Norfolk Island with a 29 per cent tariff. It officially recorded $411,000 in leather shoe exports in 2023, but a government official said it has no known exports to the US, and no tariffs or known non-tariff barriers on goods coming to Norfolk Island.

News

Manufacturing ISM: inflation up, activity down

Tuesday's ISM Manufacturing Indicator confirmed a worrying divergence in the US economy: economic activity is down, and inflation is rising. Often, the latter follows the former, but not now. A prolonged period of such dynamics is called stagflation, and it forces the Fed to make difficult choices in its dual mandate.

The ISM manufacturing business activity index fell from 50.3 to 49 last month. Strictly speaking, this is contractionary territory for the sector's activity, but due to the greater resilience of the service sector, historically, US GDP has declined when the indicator falls below 42.3.

The price component climbed to 69.4, recording its highest value since mid-2022. Unlike the episode three years ago, this has nothing to do with the economy overheating. We recall that the University of Michigan previously noted a sharp jump in consumer inflation expectations, both one year and five years ahead. If we focus only on these indicators, the central bank should have prepared to raise the rate or actually hike it.

But at the same time, business activity and consumer sentiment are creeping down. Tuesday's data marked the employment component falling deeper into the below-50 area. The rate has been below that level for 16 of the last 18 months. This is a very worrisome signal for industrial production and is alarming relative to Friday's labour market data. In addition, the components of production and new orders have been in contractionary territory and inventories are rising. These are all signs of weakening demand. This set of components suggests the need for a rate cut.

Which side will the Fed choose? We are more accustomed to a relatively lenient Fed, which carries risks for the dollar. If the news continues in a similar vein, the USD may return to decline after stabilising and rebounding in the second half of March. This scenario will be technically confirmed if DXY slides below the previous lows at 102.8 with a near-term downside potential of 99-100. (FxPro)

News

Australia

Albanese vows to defend media bargaining code

Prime Minister Anthony Albanese says the federal government stands by the nation's news media bargaining code, which was introduced by the Coalition in 2021. The media code was among a list of trade grievances with Australia that US President Donald Trump recently identified. Albanese also emphasised that local content quotas for US-based streaming services and social media age restrictions will also be non-negotiable in any talks with the US over Trump's reciprocal tariffs. (Roy Morgan Summary)

News

Australia

Netflix rival Max rolls out in Australia with bold profit prediction

The global boss of Australia’s newest streaming service, Max, has declared the platform will turn a profit within two or three years and will not rule out making local acquisitions where it makes sense.

Jean-Briac “JB” Perrette, who is the international chief executive of streaming for Warner Bros Discovery, the company that owns Max, Warner Bros, HBO, CNN, the DC Comic universe, Harry Potter and dozens more brands and channels, was visiting Sydney to launch Max, which went live in Australia on Monday.

The arrival of Max has already shaken up the local media market. It ended a 20-year output deal with Foxtel that meant HBO shows such as Game of Thrones, Succession and The Wire were pulled from Foxtel’s streaming service, Binge.

It also enters a crowded streaming market that is dominated by Netflix (6.2 million subscribers), Amazon Prime Video (4.8 million) and Disney+ (3.1 million), according to independent research firm Telsyte.

The cheapest, advertising-supported tier of Max, formerly known as HBO Max, will be free to Foxtel’s 1.4 million cable customers. Research firm Ampere Analysis estimated roughly half of Foxtel’s customers would subscribe. (AFR). Full article and coverag via subscription to The Australian Financial Review

News

Elon Musk to Remain Advisor Post-DOGE Initiative

Elon Musk will continue to serve as an advisor to President Trump and Vice President JD Vance after completing his initial six-month term with the DOGE initiative. His role has focused on improving government efficiency and addressing issues such as fraudulent grants and Social Security payments. Despite earlier reports suggesting his departure, Vice President Vance has confirmed that Musk's advisory role will persist beyond his current position. (Grok)

News

Newsmax Rings NYSE Bell for IPO Milestone

On April 3, 2025, Newsmax celebrated its initial public offering by ringing the opening bell at the New York Stock Exchange. The event was attended by Newsmax CEO Chris Ruddy, along with various team members and guests, including Rudy Giuliani. The IPO marks a significant milestone for the media company as it goes public under the ticker symbol $NMAX.

News

Markets

Australian Dollar: $0.6316 USD (up $0.0026 USD)
Iron Ore May Spot Price (SGX): $101.25 USD (down $1.75 USD)
Oil Price (WTI): $66.74 USD (down $5.40 USD)
Gold Price: $3,108.12 USD (down $14.19 USD)
Copper Price (CME): $4.8135 USD (down $0.2785 USD)
Bitcoin: $81,965.73 USD (down 4.82% in last 24 hours)
Dow Jones: 40,545.93 (down 1,679.39 points)

News

Best Quotes Of The Day

"Blockchain is the tech. Bitcoin is merely the first mainstream manifestation of its potential." — Marc Kenigsberg

"Blockchain is the biggest opportunity set we can think of over the next decade or so." — Bob Greifeld

"Blockchain is the most disruptive technology I’ve seen in decades." — William Mougayar

"Blockchain will do for trusted transactions what the internet did for information." — Ginni Rometty

"Blockchain is the future of financial transactions." — Blythe Masters

"Blockchain technology is a way to truly democratize power and wealth." — Laura Shin

"Decentralization is the keyword for blockchain’s value proposition." — Vitalik Buterin

"The great thing about blockchain is that it has the potential to create new industries." — Patrick Byrne

"Blockchain’s transparency makes it the perfect tool for accountability." — Balaji Srinivasan

"Blockchain is the backbone of the internet of value." — Don Tapscott

News

Cryptos Today

BTC. $82,012.32. 4.29%
ETH. $1,784.70. 5.06.
USDT. $0.9995. 0.05%
XRP. $2.0595. 3.19%
BNB. $587.96. 2.41%
USDC. $0.9999. 0.00%
SOL. $115.55. 9.90%
DOGE. $0.1588. 7.69%

News

X wins Media Man 'Platform Of The Month' award

Crypto, Fintech, Markets, News and Politics via Media Man

March 12/13, 2025

The crypto bounces back from extreme fear

Market picture

The cryptocurrency market bounced 2% in the last 24 hours to $2.67 trillion. So far, the situation looks like a small rebound after the collapse. We should not talk about the beginning of recovery as long as the market is below its 200-day moving average of $2.83 trillion.

Sentiment in the crypto market has shifted from dread to fear at 34. The indicator was last higher more than three weeks ago, indicating that now is a good time to buy. However, it's worth paying attention to the nervous stock market before considering investments in more volatile cryptocurrencies.

Bitcoin was climbing above $83,000 on Tuesday, hitting resistance in the form of the 200-day moving average. If a long-term trend line is repurposed as resistance, that's a worrisome bearish fact.

Ethereum ended Tuesday with growth and was trading near $1900 at the start of Wednesday, but this is a timid rebound within the steep peak the coin has been in since February 24th and the broader downtrend of the past three months.

News Background

CryptoQuant states a sharp drop in open interest in Bitcoin and Ethereum futures, suggesting a ‘leverage washout’ and a chance of market stabilisation. The Kobeissi Letter admits a wave of short position unwinding in risk assets after extreme fear levels are reached.

Clearstream, the post-trading arm of Deutsche Börse, will offer cryptocurrency settlement and custody services to institutional clients as early as next month, starting with Bitcoin and Ethereum. It then plans to add support for other cryptocurrencies and services for staking, lending and brokerage.

Glassnode notes that Solana fell below its realised price of $134 for the first time in three years. The metrics show the average cost for investors to purchase the coin.

According to Arkham Intelligence, on 11 March, bankrupt exchange Mt. Gox transferred 11,501 BTC (~$905 million) to an unknown address. Mt. Gox-related addresses hold a total of 35,915 BTC worth $2.89bn. (FxPro)

News

SEC vs Ripple Case: Negotiations Underway for Settlement

Recent developments indicate that the legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) could be nearing a conclusion. Reports suggest that Ripple's legal team is currently negotiating more favorable terms related to a $125 million fine and an injunction on XRP sales to institutional investors. The anticipation of a settlement has led to increased interest and speculation within the cryptocurrency community regarding the outcome and its potential impact on XRP. (Grok)

News

U.S. Plans Strategic Bitcoin Reserve Acquisition

Senator Cynthia Lummis has reintroduced the BITCOIN Act, which proposes that the United States government purchase one million Bitcoins over five years to create a strategic reserve. This legislative move reflects a growing acknowledgment of Bitcoin as a digital asset for national economic strategy, garnering support from both traditional financial sectors and cryptocurrency advocates. Alongside this, there is an ongoing debate about the implications, risks, and potential benefits of such a reserve. (Grok)

News

Trump's Crypto Banking Deregulation

President Donald Trump is reportedly planning to sign an executive order that would reverse regulations set by the Biden administration aimed at restricting banking activities for cryptocurrency firms. This move could impact how crypto companies interact with the Federal Reserve, potentially leading to greater integration of cryptocurrencies within the traditional financial system. (Grok)

News

Rumble's Strategic Bitcoin Acquisition

Rumble, a video platform and competitor to YouTube, has announced the purchase of 188 Bitcoins for approximately $17.1 million. This acquisition is part of Rumble's strategy to integrate Bitcoin into its treasury management, aiming to hedge against inflation and participate in the growing trend of corporate cryptocurrency adoption. The move reflects a broader acceptance of Bitcoin as a legitimate financial asset among companies. (Grok)

News

Trump Predicts Market Surge Amid Economic Indicators

President Trump has publicly stated his belief that the U.S. financial markets are poised for significant growth, making his comments at an event with business leaders. This optimistic forecast follows recent economic indicators showing inflation cooling to levels not seen in years, despite mixed responses from markets regarding Trump's economic policies including tariffs. (Grok)

News

Ethereum's Lowest BTC Ratio Since 2020 Triggers Liquidation Risk

The Ethereum Foundation faces potential liquidation of over $100 million in assets if Ethereum's price drops to $1,100, amidst a historic low in the ETH/BTC trading ratio not seen since May 2020. This financial maneuver is part of Ethereum's strategy to manage its treasury through decentralized finance (DeFi), highlighting both the risks and innovative approaches to crypto-asset management in a volatile market. (Grok)

News

Gold funds burst out of the blocks in 2025 as returns rocket

Australian gold funds are shaping up for a bumper year as mining companies start to capitalise on record prices, helping the stocks to finally catch up to the performance of the precious metal.

Portfolio managers were left frustrated last year after a jump in production costs held back ASX-listed gold producers from riding the rally in the spot prices to record levels. The VanEck Gold Miners exchange-traded fund climbed nearly 20 per cent in 2024 versus a 38 per cent rally for the gold price in Australian dollars.

But easing cost inflation that has plagued the mining sector for the last three years and an ongoing surge in prices has seen the trend reverse course. VanEck’s Gold Miners ETF is up 17 per cent already this year while the Aussie dollar spot price has climbed 6.3 per cent.

Local fund managers are bullish that gold has much further to run after the US dollar price climbed above $US2942 an ounce for the first time and the Australian dollar gold price breached $4500 an ounce.

Victor Smorgon Partners’ Resource Gold Fund returned a chunky 13.3 per cent in January and portfolio manager Cameron Judd believes the valuations of ASX gold stocks still don’t reflect the outlook for the yellow metal.

“Gold’s performance in times of uncertainty or crisis could see it push towards $US3600,” Mr Judd said. “Despite the strong gold price performance and fundamentals supporting further appreciation, gold miners are trading at discounted valuations on the ASX.”

Wall Street’s biggest banks believe a $US3000 price tag is imminent. Citi said it was possible within the next three months, while JPMorgan has a year-end target of $US3150. Bank of America said on Thursday that gold could reach $US3500 an ounce if investment demand rises 10 per cent this year.

The unprecedented surge in the gold price has been fuelled by investors seeking safe haven assets as US President Donald Trump unleashes aggressive trade and geopolitical policies. There are fears the president will accelerate inflation, forcing central banks to raise rates in a way that damages global growth.

Victor Smorgon’s top holdings include ASX-listed Vault Minerals and the world’s largest gold miner, US-based Newmont, which recently acquired Newcrest. The fund also owns Australia’s biggest gold miner Northern Star, which agreed to buy rival De Grey in a $5 billion deal. (AFR) *Full article and coverag via subscription to The Australian Financial Review.

News

Australia

Northern Star paying top dollar for gold rival

Northern Star has offered $5 billion to buy De Grey Mining, with De Grey shareholders to vote on the offer on 16 April. De Grey is the company behind the Hemi gold prospect in Western Australia, which is thought to hold at least 11 million ounces of gold and which is slated to produce 530,000 ounces annually in its first decade of operation. KPMG, which was engaged to provide an independent assessment of Northern Star's offer, has valued DeGrey at between $4 billion and $4.79 billion, inclusive of a premium for control. It concludes that the offer is "fair and reasonable and therefore is in the best interests of De Grey shareholders, in the absence of a superior proposal". (Roy Morgan Summary)

News

March 12, 2025

Crypto market tumbles after stocks

Market picture

Crypto market capitalisation has been falling to $2.5 trillion following the rumbling fall of the US stock market. It is dipping below the peaks of early 2024 and late 2021. Previously, a similar decline would complete a corrective pullback, attracting buyers. However, the chances of such an outcome are now lower than in previous years due to the powerful influence of traditional financial companies, which has strengthened the link between the crypto market and stock dynamics.

For now, though, we can argue that there is less terror in crypto. The Fear and Greed Index is at 24 (+4 points for the day), while the low point was a week earlier at 10.

Bitcoin slipped towards $76.5K in the early hours of Tuesday but has popped above $80K at the time of writing, approaching Monday’s consolidation levels. A bearish pattern persists on the daily timeframes, which suggests a strengthening sell-off after a failure under the 200-day moving average. The scenario of a pullback to the $70-74K area still looks the most probable for us. This is all the truer as the consolidation and rebound in early March has taken the short-term oversold stance out of the market.

Ethereum is trying to find a pivot point after falling towards $1750 at the start of Tuesday. These were the lowest values in the last 17 months. On weekly timeframes, the RSI oscillator hit its lowest point since mid-2022 - near the bottom of the bear market. Does this signify an opportunity for the recklessly bold or a breakdown in the leading altcoin? We will find out in the coming days.

News Background

According to CoinShares, global crypto fund investments fell by $876 million last week after record outflows of $2.911 billion a week earlier. Investments in Bitcoin fell by $756 million; in Ethereum, by $89 million. Investments in Solana rose by $16 million, in XRP by $6 million, and in Sui by $3 million.

As a result of another recalculation, Bitcoin mining difficulty increased by 1.43% to 112.15T. The growth did not compensate for a 3.15% drop two weeks ago. However, the figure came close to the all-time high of 114.17T reached in January.

Strategy (former MicroStrategy) intends to raise $21bn through the sale of preferred shares as part of its At-The-Market program. The proceeds will be used to buy Bitcoin and other corporate purposes. (FxPro)

News

March 11, 2025

US Senator And Congressman Introduce Strategic Bitcoin Reserve Bills To Buy One Million BTC

Speaking at the “Bitcoin for America” summit, lawmakers announced their plans to create a federal bitcoin reserve that would see the U.S. buy one million BTC.

Today at the Bitcoin Policy Institute’s “Bitcoin for America” summit in Washington DC, U.S. Senator from Wyoming Cynthia Lummis announced that she is going to reintroduce her strategic Bitcoin reserve legislation in the Senate today.

“I am so pleased to announce that today I will be reintroducing The Bitcoin Act,” Senator Lummis stated. “And I’ll be joined here shortly by Senator Justice of West Virginia, who is one of the cosponsors. And we have several other additional cosponsors. And a lot of it is a result of the excitement that’s been building.” (Bitcoin Magazine). *Full article via Bitcoin Magazine

News

XRP wins Media Man 'Crypto Of The Month' award

News

Markets

Australian Dollar: $0.6317 USD (up $0.0020 USD)
Iron Ore Apr Spot Price (SGX): $100.60 USD (up $0.15 USD)
Oil (WTI): $67.70 USD (up $1.14 USD)
Gold: $2,931.74 USD (up $13.03 USD)
Copper (CME): $4.8425 USD (up $0.0500 USD)
Bitcoin: $82,880.91USD (up 0.32% in last 24 hours)
Dow Jones: 41,350.93 (down 82.55 points)

News

Roy Morgan wins Media Man 'News Services Company Of The Month' award

News Media

Australia

Peter Dutton More Crypto Friendly And Switched On Than Albanese (Media Man Group)

News

"Dutton A Genuine Contender" (Sky News Australia)

March 10, 2025

ASX futures are pointing up 69 points, or by 0.9 per cent, to 8011.

All US prices are as of 4.15pm Sunday in New York:

Bitcoin -3.7% to $US83,138
On Wall St: Dow +0.5% S&P +0.6% Nasdaq +0.7%
VIX -1.5 to 23.37
Gold -0.1% to $US2909.10 an ounce
Brent oil +1.3% to $US70.36 a barrel
Iron ore +0.3% to $US100.70 a tonne
10-year yield: US 4.3% Australia 4.4%

January 10, 2025

ASX futures up 33 points or 0.4%

AUD -0.3% to 61.98 US cents
UK pound -0.4% to $US1.2309
Bitcoin -2.9% to $US91,275 at 7.23am AEDT
US markets closed for Jimmy Carter’s funeral
Stoxx 50 +0.4% FTSE +0.8% DAX -0.1% CAC +0.5%
Spot gold +0.3% to $US2671.00/oz at 1.55pm in New York
Brent crude +1.2% to $US77.08 a barrel
Iron ore +1% to $US97.40 a tonne
10-year yield: US 4.69% Australia 4.48% Germany 2.56%
US prices as of 1.59pm in New York

Donald Trump to Headline Bitcoin 2024 Conference in Nashville

July 11, 2024

Former President Donald Trump has been confirmed as a keynote speaker at the upcoming Bitcoin 2024 conference set to take place in Nashville, Tennessee.

This news comes as a significant development for the event, known for its major industry announcements and influential speakers. The conference, which has previously been hosted in Miami, has established itself as a platform for groundbreaking news within the cryptocurrency space.

Bitcoin 2021, the inaugural conference, made headlines when El Salvador officially declared Bitcoin as legal tender. The subsequent Bitcoin 2022 and Bitcoin 2023 conferences continued the trend of notable moments, including a powerful speech by U.S. Presidential candidate Robert F. Kennedy Jr. in support of the Bitcoin industry.

This year, the shift of the conference location from Miami to Nashville signifies its increasing prominence on the global stage. With two former U.S. Presidential candidates, Robert F. Kennedy Jr. and Donald Trump, slated to speak, Bitcoin 2024 is anticipated to be a pivotal event that could potentially impact the future trajectory of Bitcoin and cryptocurrency policies in the United States.

Donald Trump’s participation in the conference is especially noteworthy considering his recent engagements with the Bitcoin community. Earlier this year, Trump met with prominent U.S. Bitcoin miners, including representatives from CleanSpark, where he reiterated his support for Bitcoin mining both domestically and internationally. In a statement, Trump pledged to prioritize the development of Bitcoin and crypto initiatives in the United States and safeguard the rights of the nation’s 50 million crypto holders if re-elected as president.

As Trump embarks on his presidential campaign, his alignment with the Bitcoin industry stands in contrast to the position of his potential rival, President Joe Biden, who has shown less enthusiasm towards the cryptocurrency sector. While Biden’s participation in Bitcoin 2024 remains unconfirmed, the event could underscore the divergent approaches of the two candidates towards Bitcoin and its implications for U.S. policies.

For additional details on the Bitcoin 2024 conference and to secure a discounted ticket using a promotional code, interested individuals can visit the official event website. Bitcoin Magazine, a subsidiary of BTC Inc, the organizer of the largest Bitcoin conference, The Bitcoin Conference, will be overseeing the event.

Websites

Bitcoin 2024
https://b.tc/conference/2024

Bitcoin Magazine
https://bitcoinmagazine.com

Cryptocurrency News via FxPro and Media Man

March 18, 2024

Crypto market deepens correction

Market picture

The crypto market lost 6% in 24 hours to $2.42 trillion. Solana reversed Tuesday's decline, losing 9% in 24 hours - the last of the major altcoins to fall into a correction.

Bitcoin is down 5% after falling to $64.4K. That's its lowest level in two weeks and 13.5% below its high. A close below $65.5K would signal a move to a deeper level – the classic 61.8% retracement of the rally with a potential target near $60K.

Solana had been above $210, reaching highs not seen since late 2021 before following the general corrective mood of the markets. A classic retracement pattern suggests a downside potential of $168. However, if this level is approached, one needs to look at bitcoin sentiment and global risk appetite to understand whether this support will be strong enough.

Ethereum is under selling pressure and has already pulled back to $3300, erasing all gains since early March. Having fallen below the 61.8% retracement of the rise from the January lows, ETHUSD can only hope for support in the form of the 50-day average ($3080) and $3000 (previous consolidation, plus the round level).

News background

According to CoinShares, crypto fund investments rose by a record $2.916B last week, surpassing the previous record set the week before ($2.685B) and continuing significant inflows for the seventh consecutive week. Bitcoin investments increased by $2.896B; Ethereum decreased by $14M, and Solana decreased by $2.7M. Investments in funds that allow shorting Bitcoin increased by $26M.

Bitcoin is in a bullish phase of a cycle like December 2020-January 2021. The current correction is "healthy" and removes some of the leverage in the system, said http://Crypto.com CEO Chris Marszalek.

Rekt Capital warned of a "danger zone" ahead of the upcoming halving in April. Historically, bitcoin has fallen weeks before the event. The depth of the correction was 20% in 2020 and 40% in 2016.

According to new data from Bitcointreasuries, 93.6% of total bitcoins (19,656,760 BTC) have already been mined as of mid-March 2024. Miners have only 1.34 million BTC left to mine, significantly limiting the future supply of the asset.

Ethereum issuance fell to its lowest level since August 2022 following the activation of the crucial Dencun update on 13 March, CryptoQuant noted. According to The Block, the ETH network has reached annual highs in the number of active and new addresses, daily transactions, and transaction volume.

The buzz around meme coins has boosted the token rate of the networks on which they are issued. The Solana (SOL) and Avalanche (AVAX) cryptocurrencies updated local highs. In pre-selling, users send network tokens to a wallet address in exchange for a corresponding number of coins when the meme token is launched. Solana has once again become the trendiest crypto asset among traders, with new Meme tokens appearing almost every minute, according to ContentFi Labs.

(Source: FxPro) with Media Man and Bitcoin News Media

Casino News - July 2023

Online Casino Gambling in NJ Nears $1 Billion in 2023

Online Casino Gambling in NJ Nears $1 Billion in 2023 (July 14, 2023)
Online casinos in New Jersey are way ahead of last year's record-setting pace with data released on Friday by the NJ Division of Gaming Enforcement showing the activity generated $149.3 million in revenue in June, an increase of 12.1 percent year-over-year for this month.

Online casinos netted more than $930 million in revenue, which represents a 12.1 percent year-over-year clip growth compared to 2022.

June’s numbers are coming in below May’s $161.4 million. Casino gambling to some extent will likely come down with fewer people betting sports during the last spring and summer months.

The DraftKings-owned Golden Nugget has reclaimed the top spot for all NJ online casinos, knocking off Borgata, which is part of the BetMGM group of casinos.

Golden Nugget took in over $41.7 million.

Half of the Recent 850 Referred Gambling Addicts at One Clinic Are Children (July 14, 2023)
More than 850 people have been referred to a clinic for video game addicts since it opened in 2020 and half of those were children, according to a report appearing in the Guardian on Friday.

The National Centre for Gaming Disorders (NCGD), a London clinic, was originally given NHS funding based on seeing just 50 people a year. That nunber, however, ballooned to 30 people a month since the end of March this year – more than seven times anticipated demand.

Loot boxes were among the chief culprits and accounted for about a quarter of those seeking treatment. These comprise of gambling-style features offering randomised rewards.

Almost 12% of patients who played video games compulsively referred to playing Fortnite, with 10% citing Minecraft, 8% mentioning Call of Duty and 4.7% using the gaming platform Roblox.

Of the 855 referrals, 408 were gamers, of whom 227 were under 18.

Maine's Head of Sports Betting Claims White Supremacist Sympathizing Tweets 'Meant to Be Humerous' (July 12, 2023)

Maine's top gambling law officer, Milt Champion, returns to work on Monday after serving a 40-hour suspension. He was also expected to undergo in-person state training on workplace harassment and social media policies.

This all stemmed from a series of tweets back in May deemed to contain racist and misogynistic subject matter.

"While the two tweets were intended to be humorous, I recognize they were anything but. They were a mistake and an error in judgment, and I apologize for my actions," Champion said in the release. "I thank the employees of the Unit for their hard work and commitment in my absence."

On May 6, Champion expressed frustration about being told “ladies” was an unprofessional term for females, and suggested “Bitches” would be more appropriate.

Sure that could be viewed by some perhaps as a bad attempt at humor.

But as Gambling911.com also noted at the time, Champion somehow felt compelled to defend a tweet by Brian Krassenstein describing the Patriot Front as a "hate group in the United States that espouses white nationalism and neo-fascist ideologies".

Kentucky Sports Betting to Go Live September 7 (July 10, 2023)

Steve Bittenbender breaks things down following today's meeting in Kentucky regarding the upcoming launch of regulated sports betting in the commonwealth.

"Monday was really just a checkpoint for Kentucky officials responsible for rolling out sports betting statewide. They still have 59 more days of work ahead of them and that's just to get brick/mortar sportsbooks up and running and 80 to get online apps live."

He had a few key takeaways:

1. Tracks and operators will be able to start applying for sports betting licenses in Kentucky as soon as tomorrow (July 11, 2023).

2. The Sept. 7 brick/mortar launch date appears to be universal, according to the KHRC, if the tracks are ready.

3. The KHRC also tells me that tracks could theoretically have one brick/mortar operator at their track and another at their HHR satellite parlor. Remains to be seen how many (if any) may take advantage of that.

As many as 27 licensees could have the ability to operate in Kentucky apparently. It's not likely we'll get anywhere close to that number.

Unibet Vows Fixes Following Gambling911 Scathing Reports (July 10, 2023)

Unibet appears to have finally recognized it can't keep allowing its website and retail sportsbook business in Pennsylvania to keep going down and making as if nothing is wrong.

The company advised its PA customers over the weekend that "site improvements are on the way".

It's about time.

Unibet has already switched over to proprietary software in neighboring New Jersey.

Our own Thomas Somach had highlighted how folks were unable to place bets with the Unibet mobile app over extended periods of time in the state. The walk-in book at The Downs at Mohegan Sun in the Lehigh Valley, which is run by Unibet, also was shuttered during this time.

The company appeared to be more concerned about customer cleanliness than they were about keeping their website and sportsbook operational.

Somach also reported on how the company’s facility at the Downs at Lehigh Valley had erected signs warning customers that if they don’t get the smell out, they can get the hell out.

Man Charged With Riding Motorcycle Through Vegas Casino (July 6, 2023)
A motorcyclist is facing numerous charges after doing wheelies along Las Vegas Boulevard and riding through a casino, and on stairs and escalators.

Las Vegas Metropolitan police posted the arrest on one of the department’s social media accounts. It said R.A.I.D. officers took the man they referred to as the “reckless rider” into custody.

The rider is yet to be identified. He was wearing a shirt that read “Till the (expletive) wheels fall off.”

“The rider thought he would never get caught,” the police post stated.

He is facing the following charges:

3 felony counts of driver disobeying police officer, endangering person or property

4 gross misdemeanor counts of disregard for the safety of person or property

4 misdemeanor counts of reckless driving

1 felony count of assault with a deadly weapon

1 felony count of child abuse and/or neglect

1 felony count of coercion with force or threat of force

Pro Sports Care More About Gambling Than Violence Against Women and Racism (July 6, 2023)

Deadspin's Carron J. Phillips writes that "if you’re talented or rich enough, it’s becoming clear what will and won’t be forgiven in sports."

Gambling on games or in team facilities will not.

"Greg Hardy got to play football again. Antonio Brown keeps hanging around. Donald Sterling and Robert Sarver made millions after selling their teams," Phillips writes.

He points out that the Titans Hassan Haskins was arrested last month for allegedly strangling his girlfriend.

"Society didn't blink," he writes.

Wouldn’t it be great if sports took racism and violence against women this seriously from the jump? Imagine where we would be if that happened.

But, for something like that to occur it would mean that society, let alone sports, would have to take a stand against both transgressions — and we know that’s a pipedream.

Now, it seems like the rest of the sports world is following the NFL’s lead — as it often does. And once you realize that the NFL is usually a mirror of society, it becomes quite clear why racism and violence against women are easily forgiven while “gambling” is a blasphemous offense.

Last week, the NFL suspended indefinitely more players for violating the league's gambling policy. They included Isaiah Rodgers, Rashod Berry, and Demetrius Taylor.

“The gambling policy, which is annually reviewed with all NFL personnel, including players, prohibits anyone in the NFL from engaging in any form of gambling in any club or league facility or venue, including the practice facility,” read the NFL’s statement after the latest round of suspensions.

Phillips does note that the New York Yankees suspended relief pitcher Jimmy Cordero on Wednesday for the rest of the season for violating Major League Baseball’s domestic violence policy.

ASA Bans Jake Paul Ladbrokes Tweet (July 5 2023)
The Advertising Standards Authority (ASA) has determined that a Ladbrokes tweet violated its terms and conditions.

They claim that boxer and YouTube influencer Jake Paul was featured in the tweet and that his appeal is too geared towards minors. It's not immediately clear now many of his more than 20 million subscribers are actually teenagers. Paul does appeal to adults as well, thanks in no small part to his boxing skills.

Of course the irony in all of this is that Jake Paul now has an ownership interest in a sportsbook, Betr.

The tweet in question appeared back in February.

"@TommyTNTFury beat @JakePaul by split decision last night. So, we've got to ask the question… What's next for Jake Paul? Vote here now."

At the bottom of the tweet, the gambling company also linked to a poll with the options: "Win the re-match", "Head to the MMA", "Return to YouTube" and "Join the WWE".

it's not immediately clear what fine, if any, will be imposed.

Churchill Downs Extends Baffert Ban Through 2024 (July 3, 2023)

Churchill Downs Inc. has decided to extend Bob Baffert's two-year suspension for at least another 18 months, per a release. That would keep the Hall of Fame trainer from running horses in next year's 150th running of the Kentucky Derby.

“Mr. Baffert continues to peddle a false narrative concerning the failed drug test of Medina Spirit at the 147th Kentucky Derby from which his horse was disqualified by the Kentucky Horse Racing Commission in accordance with Kentucky law and regulations," Churchill Downs said in a statement. "Prior to that race, Mr. Baffert signed an agreement with Churchill Downs which stated that he was responsible for understanding the rules of racing in Kentucky and that he would abide by them. The results of the tests clearly show that he did not comply, and his ongoing conduct reveals his continued disregard for the rules and regulations that ensure horse and jockey safety, as well as the integrity and fairness of the races conducted at our facilities.

"A trainer who is unwilling to accept responsibility for multiple drug test failures in our highest-profile races cannot be trusted to avoid future misconduct. Mr. Baffert will remain suspended from entering horses at all racetracks owned by CDI through 2024. After such time, we will re-evaluate his status.”

Ohio Will Reportedly Double its Tax Rate on Sports Betting (July 2, 2023)
Mobile gambling analyst Steve Brubaker tweeted this weekend:

"Lots of chatter about Ohio doubling the tax rate on the already nearly destitute OSBs. Boo hoo. Don’t forget that this same industry marched all over the country telling legislators that the hold was only 5% and to keep taxes and fees low. Hold rate is now 8% and climbing. 60% (up arrow)."

His tweet comes after that state's House and Senate reached an agreement on a budget for the state and that budget with the budget conference committee agreeing on a version doubling the current tax rate of 10% on sports betting to 20%.

Jessica Wellman had this to offer:

Alex Cane, CEO of Sports Trade responded:

"Horrible precedent. What other businesses in Ohio are taxed by revenue, much less *over 1,000% of revenue*?"

These costs will almost certainly be passed onto gamblers in the form of less competitive lines and bonus offerings.

West Virginia House Minority Whip Foresees Sports Betting Content Creator Oversight Bill Passing in Next Session (July 2, 2023)

West Virginia House minority whip Shawn Fluharty foresees the sports betting content creator oversight bill passing in the next session.

This is proposed regulation that applies to content creators in the industry. Such concerns were in the spotlight over the past week after it was revealed that an NBA insider, Shams Charania, forced a line change based on his wrongful information while employed by a sportsbook.

Maryland already requires disclosure and independent evaluation of influencers and media partners by its regulated sportsbooks.

Fluharty tells Legal Sports Report this is bigger than the Shams controversy.

“I’m not saying FanDuel had any unclean hands here. But if they wanted to, they certainly could. That’s because there is no regulatory boundary in place,” Fluharty told LSR on Monday. “… This is kind of the forecast of what’s next in the regulatory and legislative realm. And it shines a light on something we’ve been talking about for months. You just needed a clear example, and this is a clear example.

“I think really what the Shams thing did was it blurred the lines of influencer and reporter,” Fluharty said. “ … It used to be, in Las Vegas, the public drove the lines. Now, the sportsbooks are driving the lines 100%. They have the ability to do that now. Because they can influence the public using their own people.”

Casino Theft Cage Scheme Involves at Least 3 Properties, Mexican Phone Numbers (June 30, 2023)
A scheme to dupe casino employees into thinking they were transferring money from cages to a legitimate business involves at least three casinos and Mexican phone numbers, the 8 News Now Investigators have learned.

Documents the 8 News Now Investigators obtained Friday reveal the allegations involve thefts at Circa Hotel & Casino, Eureka Casino Resort in Mesquite and the Golden Nugget in Laughlin — as well as federal investigators, including the U.S. Secret Service.

SpankOdds Free Indefinitely (June 29, 2023)

SpankOdds to be Free for All Eternity - Well, at least indefinitely. At some point the nearly one-year-old line service is likely to begin charging, but its founder, Gadoon “Spanky” Kryollos, announced via Twitter there will be no charge entering this football season (2023) at least.

SpankOdds is one of the few line services incorporating US regulated books and those out of Vegas along side offshore mainstays.

The platform bills itself as "a real-time odds monitoring and injury alerting software that gives sports bettors an advantage".

CBS Sports: Isaiah Rodgers Among Those to be Suspended for Violating League Gambling Rules (June 29, 2023)
Colts veteran Isaiah Rodgers is one of several NFL players facing full-season 2023 suspensions as part of the league's latest investigation into gambling allegations, according to CBS Sports NFL insider Jonathan Jones - Read More
Kim Zolciak’s Estranged Husband Has His Own Issues Amid Controversial Claims (June 29, 2023)
Kroy Biermann claims he and Zolciak's financial debts are because of her gambling problem, but he has his own personal gambling bills to worry about. Zolciak appeared on The Real Housewives of Atlanta. Biermann, she claims, owes the Baha Mar Casino in the Bahamas $52K in unpaid gambling debts. The casino filed suit and the complaint has since been obtained by TMZ. According to the suit, Kroy obtained a $100,000 line of credit for use at Baha Mar Casino in advance of a November 2021 trip, and he ended up using $52,500 to gamble. The company in charge of handling Baha Mar Casino's credit line allege the reality TV star and NFL player drew $52,500 in chip markers at the casino and didn't repay the amount before leaving. Ugly divorce allegations continue. The couple's marriage fell apart after 13 years. Read More
More Gambling Suspensions Coming: Colts Isaiah Rodgers Among Them
(June 28, 2023) - Mike Florio of Pro Football Talk (an arm of NBC Sports) has been doing an admirable job of covering the hypocrisy surrounding the National Football League's gambling policy and its attempts to reign in players while reaping the rewards of US regulated sports betting partnerships.

ESPN warns of more suspensions coming by week's end. We don't know who or how many, though Indianapolis Colts' Isaiah Rodgers is being named in media reports.

The good news is that the league seems to be trying harder, when it comes to properly educating players. The bad news is that flaws seem to remain.

Florio writes:

And they surely will. As previously mentioned, it becomes difficult for the NFL to have true moral authority when it comes to properly enforcing “thou shalt nots” when the NFL is stuffing its pockets full of cash from those who shalt continue to lose it.

Only when the league creates a true firewall between football and wagering will the league truly be equipped to create safeguards that players can understand, honor, and accept — especially since the entire situation currently oozes with hypocrisy.

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Holy Smoke! Circa Casino Scammed Out of $1 Million

(June 27, 2023) - A popular Las Vegas casino has reportedly been scammed out of $1 million in what's being called a "fire extinguisher scam".

Say what?

Erik Gutierrez, 23, has been charged with theft of more than $100,000.

He is alleged to have contacted Circa’s casino cage claiming to be the owner of the property and said he needed $320,000 for an emergency payment to the fire department in order to check fire extinguishers and other gear.

Ultimately, a cage supervisor ended up allegedly handing over $1.17 million during off-site exchanges believing they were giving it to Circa’s owner.

While Las Vegas police have recovered $850,000, $314,000 remains missing.

The casino’s CEO Derek Stevens said, “Although I love a good PR story, this isn’t one of them. Circa Resort & Casino is cooperating with the Las Vegas Metropolitan Police Department in this investigation. We greatly appreciate their efforts to date and cannot comment further due to an ongoing investigation.”

Joe Theismann Backs NFL's Gambling Crackdown
(June 27, 2023) - "We can't have fans believing games are 'fixed'," said football legend Joe Theismann, noting that he supports the league's crackdown on sports betting.

The NFL policy reinforcements and "re-education" come in response to the sport-wide surge of athlete suspensions for violating gambling rules. Sports analysts like Mike Florio still point to the hypocrisy.

"It better work. I think the NFL, because of the stringent nature of these rules that have been put in place, realizes that you just don't want to let anything seep into the game to give people the perception that the games are fixed, they're really trying to make sure of that," Theismann said Thursday during an appearance on "Varney & Co".

"From an NFL player standpoint, you think of the millions of dollars that the players are making. If you wanted to go into a facility, I guess in the off-season, it might be okay. But I don't think they're going to say if you play in the NFL, you can't gamble. But they certainly want to protect the integrity of the game as much as they possibly can. And I can certainly understand it," he continued.

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PrizePicks Sued

(June 25, 2023) - PrizePicks has fast become a behemoth on the Daily Fantasy Sports scene with its hybrid DFS product that comes the closest to sports betting without requiring a license in most US states.

Now that the company is so big, it's also a target for what some say are frivolous lawsuits.

Case in point, a lawsuit filed this week alleges PrizePicks stole technology to use on its prop product, an accusation the company denies.

“After years of trying unsuccessfully to get us to buy its technology and intellectual property, Vetnos has now apparently resorted to a frivolous lawsuit to change our minds. That is not a good business or legal strategy. We intend to aggressively defend against this lawsuit and point out its many errors and outright falsehoods,” said Jason Barclay, Chief Legal Officer and Head of Public Policy at PrizePicks.