$1,250,000,000,000 has now been wiped out from the US stock market in last 3 hours.
This is more than the entire market cap of Bitcoin.
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๐ญ๐ฐ Hong Kong to launch a long-awaited gold clearing and settlement system next week, aiming to become a major price-setter for the metal, SCMP reports.
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๐จ๐ฆ๐บ๐ธ Canada unveils plans for oil pipeline to Asia to become an "energy superpower" and break dependence on US.
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After Sony announced plans to discontinue PlayStation game discs, Xbox is reportedly testing a disc-to-digital feature that would allow users to digitize their physical game collections.
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Legendary investor Michael Burry, best known for predicting and profiting from the 2008 financial crisis, is now betting against the AI boom
Burry has reportedly taken short positions in Micron, Nvidia, and Applied Materials, arguing that their soaring valuations are being driven more by AI hype than by underlying fundamentals.
His move doesn't necessarily mean the AI trade is over, but it does signal that one of Wall Street's most famous contrarians believes optimism around AI chips may have gone too far.
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Bank of Japan intervened in the currency market to support the yen after USD/JPY hit a 40-year high of 162.84 and then plunged to 160.90 within hours.
The nearly 1.18% drop in a few hours is an unusual market move, following $72-73 billion spent on interventions in April and May.
๐ช @FinancialWorldUpdates
The nearly 1.18% drop in a few hours is an unusual market move, following $72-73 billion spent on interventions in April and May.
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Global stock market capitalization hit a record $166T, up $32T (+23.6%) yearly.
The Dow Jones rises while the S&P 500 stalls as investors shift to defensive sectors amid AI return doubts, potentially directing liquidity to crypto next. U.S. markets closed for Independence Day.
Bitcoin shows a bullish RSI divergence, signaling fading selling pressure and a potential rebound to $64Kโ66K.
Ethereum displays relative strength; breaking $1,700 could lead to $1,800.
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Anthropic to Shut Loopholes That Give Chinese Tech Giants Access to Claude AI
Anthropic is tightening its detection systems to block firms like Ant Financial and ByteDance, which have used VPNs and overseas subsidiaries to access its advanced AI models.
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Amazon Positioned to Launch Starlink Internet Rival After Reaching 396-Satellite Milestone.
Amazon is closing in on the commercial rollout of its satellite broadband network, recently rebranded as Amazon Leo (formerly Project Kuiper).
With 396 low-Earth orbit satellites now successfully deployed, the company has established the minimum infrastructure required to initiate beta services later this year.
The tech giant has committed over $10 billion to the program, aiming to scale the fleet past 3,200 satellites by 2029.
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The Biggest Wealth Gap Is Not Always Income
Two people can earn the same salary and end up in completely different financial positions.
Why?
Because money is not only about how much you make.
It is also about:
Most people focus only on income.
But real wealth is built through habits repeated for years:
Saving before spending.
Investing before showing off.
Avoiding bad debt.
Staying patient when markets get noisy.
Letting time do the heavy lifting.
The rich do not only buy assets because they have money.
They often have money because they kept buying assets.
Small decisions compound.
So do bad habits.
๐ช @FinancialWorldUpdates
Two people can earn the same salary and end up in completely different financial positions.
Why?
Because money is not only about how much you make.
It is also about:
How much you keep
How much you invest
How much debt you carry
How fast your lifestyle grows
How emotionally you react to markets
Most people focus only on income.
But real wealth is built through habits repeated for years:
Saving before spending.
Investing before showing off.
Avoiding bad debt.
Staying patient when markets get noisy.
Letting time do the heavy lifting.
The rich do not only buy assets because they have money.
They often have money because they kept buying assets.
Small decisions compound.
So do bad habits.
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Forwarded from POLITICS | FINANCE | WAR | GEOPOLITICS | NEWS
Over 100 countries are expected to attend the state funeral of former Iranian Supreme Leader Ali Khamenei, according to Iranian state broadcaster IRIB.
Iranian media also report that Iran's current Supreme Leader, Mojtaba Khamenei, will not attend due to security concerns following recent Israeli threats against him. Meanwhile, an Iranian military commander warned the United States and Israel against launching any attack on Iran during the funeral ceremonies.
Confirmed countries and delegations attending the funeral as of now:
@PoliticFinance๐ฅป
Iranian media also report that Iran's current Supreme Leader, Mojtaba Khamenei, will not attend due to security concerns following recent Israeli threats against him. Meanwhile, an Iranian military commander warned the United States and Israel against launching any attack on Iran during the funeral ceremonies.
Confirmed countries and delegations attending the funeral as of now:
๐ฆ๐ซ Afghanistan โ Taliban leadership delegation๐ฆ๐ฒ Armenia โ Prime Minister Nikol Pashinyan๐ฆ๐ฟ Azerbaijan โ Speaker of Parliament๐ง๐ฉ Bangladesh โ Speaker of Parliament๐ง๐พ Belarus โ Official delegation๐จ๐ณ China โ Senior parliamentary delegation๐ฌ๐ช Georgia โ President Mikheil Kavelashvili๐ฎ๐ณ India โ High-level government delegation๐ฎ๐ถ Iraq โ President Abdul Latif Rashid and Iraqi resistance delegations๐ฐ๐ฟ Kazakhstan โ Presidential delegation๐ฐ๐ฌ Kyrgyzstan โ Presidential delegation๐ฑ๐ง Lebanon โ Defence Minister, Amal Movement, Hezbollah representatives, and the family of Hassan Nasrallah๐ณ๐ฆ Namibia โ Official delegation๐ฐ๐ต North Korea โ Official delegation๐ด๐ฒ Oman โ Official delegation๐ต๐ฐ Pakistan โ Prime Minister Shehbaz Sharif๐ต๐ธ Palestine โ Popular Front for the Liberation of Palestine (PFLP) delegation๐ถ๐ฆ Qatar โ Speaker of Parliament๐ท๐บ Russia โ Senior government delegation๐ฐ๐ท South Korea โ Official delegation๐น๐ฏ Tajikistan โ President Emomali Rahmon๐น๐ฒ Turkmenistan โ National delegation๐น๐ท Tรผrkiye โ Vice President and delegation๐บ๐ฟ Uzbekistan โ Presidential delegation๐พ๐ช Yemen โ Official delegation
@PoliticFinance
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๐ฎ๐ณ The Reserve Bank of India (RBI) backs crypto โcontainmentโ and keeps ban on table - Economic Times.
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OpenAI Offered US Government 5% Stake
OpenAI reportedly offered Trump's administration a 5% stake in the company to reduce political risks and "share AI benefits with society," according to Financial Times.
The stake was intended to be placed in a special fund similar to the Alaska Permanent Fund. With OpenAI valued at $852 billion, this share would be worth about $42.6 billion.
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๐บ๐ฆ NATO allies to pledge $80 billion in military aid to Ukraine.
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๐บ๐ธ SEC Chair Paul Atkins says the agency is taking "historic steps" to move U.S. markets onchain.
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๐บ๐ธ Markets are pricing in an 82.4% probability that the Fed keeps rates unchanged at its July meeting.
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๐บ๐ธ US national debt hits a record $39.4 trillion.
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Major US sheriffs have dropped their opposition to the CLARITY Act.
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Gold has surpassed U.S. government bonds to become the worldโs largest reserve asset.
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