24/7 Blockchain industry dynamics and breaking crypto news
South Korea's Ministry of Economy and Finance confirms virtual asset taxation will begin January 1, 2023 as planned. Profits over 2.5 million KRW face a 22% tax rate, affecting an estimated 13.26 million investors. Implementation rules are being finalized with major exchanges.
Read MoreFidelity strategist Tom Lee argues that leading AI and semiconductor stocks remain reasonably valued despite record highs. With explosive sector demand, he sees further upside, projecting the S&P 500 could reach 7700 or higher by year-end.
Read MoreEthos, an AI-driven on-demand talent matching platform, has raised $22.75 million in Series A funding led by a16z. The platform uses AI to analyze candidates' professional work and create detailed skill profiles, aiming to transform the talent acquisition landscape.
Read MoreChina's foreign exchange reserves rose to $3.410547 trillion in April, surpassing market forecasts and showing a monthly increase. This robust figure underscores the strength and stability of the country's external financial position, providing a solid buffer for economic security.
Read MoreVeteran economist Gary Shilling issues a stark warning, stating a US recession this year is nearly inevitable due to economic vulnerabilities. He also predicts a potential 30% stock market correction as valuations soar, with a bear market possible by year-end.
Read MoreA prominent US Bitcoin mining firm with political ties has added 300 BTC to its holdings, bringing its total to 7,300. This strategic accumulation reinforces its position among the top global corporate holders, ranking 16th, and highlights ongoing institutional confidence in digital assets.
Read MoreCiting Pakistani sources, Al Arabiya reports that former U.S. President Donald Trump has signaled Iran to formally respond to a key American proposal swiftly. This move is seen as the latest White House push in Middle East diplomacy, heightening regional focus.
Read MoreA Morgan Stanley executive forecasts traditional finance will absorb DeFi innovations, with public blockchains becoming critical infrastructure. The firm plans to launch a service allowing clients to collateralize external crypto holdings without triggering taxable events.
Read MoreAMD's stock surged to a record high, boosting confidence in sustained AI infrastructure demand. Analysts note the AI chip market is diversifying beyond initial dominance. As businesses adopt agentic AI, CPUs gain prominence. AMD is leveraging its combined CPU and GPU strength to capture broader AI opportunities.
Read MoreEuropean natural gas prices fell sharply, dropping over 5%, following reports that Iran is considering a U.S. proposal regarding the Strait of Hormuz. This development eased market fears of potential supply disruptions, highlighting how geopolitical shifts in the Middle East directly impact global energy markets.
Read MoreOn May 7th, oil prices plummeted sharply, with WTI crude crashing 4% to below $93.14 per barrel. Brent crude also fell below $97. The sell-off was primarily driven by reports of a preliminary US-Iran consensus on easing tensions in a key shipping route, alleviating supply disruption fears.
Read MoreThe Binance Alpha airdrop distribution officially begins at 18:00 today. Eligible users holding a minimum of 245 points can claim tokens on a first-come, first-served basis until the reward pool is depleted or the event concludes.
Read MoreOn May 7th, international crude oil prices experienced a sharp decline. Both WTI and Brent crude fell by over $1 in short-term trading, with intraday losses exceeding 2% and 1.6% respectively. WTI dropped to around $95.15/barrel, while Brent fell below the $99/barrel mark, indicating heightened market volatility.
Read MoreGold prices rose for a third day, supported by easing inflation fears amid hopes for a US-Iran deal. Dollar weakness and lower oil prices provided additional lift. However, gains were limited as cautious traders await the crucial US jobs report for clues on the economy and Fed policy.
Read MoreReports indicate the US and China may launch official high-level talks on artificial intelligence during their upcoming Beijing summit. While the US side may be led by the Treasury Secretary, China's representative remains unspecified. The Foreign Ministry confirmed ongoing communication but provided no further details, signaling potential coordination on AI governance between the world's top economies.
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