Bitcoin rose to $60,000 for the first time in more than two years, riding a wave of optimism that demand for the token is widening beyond crypto enthusiasts.

The largest cryptocurrency has jumped more than 40% already this year. Read more here: https://trib.al/cNCIbJP

Follow the Bloomberg Crypto Telegram channel for more news on Bitcoin: https://t.me/bloombergcrypto

📷: Angel Garcia/Bloomberg

Rockstar Games is asking employees to return to the office five days a week beginning in April. The video-game maker is entering the final stages of development on its next game, the hotly anticipated Grand Theft Auto VI.

In an email to staff reviewed by Bloomberg, Rockstar Head of Publishing Jenn Kolbe said the decision was made for productivity and security reasons.

The company has faced several security breaches including a massive dump of early footage from the new Grand Theft Auto and an early trailer that leaked in December. More here: https://bloom.bg/4bRsaGx

📷: Yuki Iwamura/AFP/Getty Images

Building a multibillion-dollar empire is one thing. Keeping it in the family is another matter.

By the time Wee Cho Yaw died earlier this month at 95, his five children had firmly established roles within Singapore’s richest banking dynasty that forged a $10 billion fortune. Still, his more than a dozen largely millennial grandchildren have mostly pursued their own passions in business, from a three-star Michelin restaurant to co-founding a dry cleaning chain and a website selling Asian artwork.

Cho Yaw’s wish, he wrote in his 2014 biography, was that his grandchildren would take a prominent role in the family businesses. So far, that hasn’t happened. More on the heirs in line to inherit his fortune: https://bloom.bg/3P1rjJF

📷: Kua Chee Siong/SPHOL/AP Photo

Term extension rejected: Senegalese President Macky Sall reiterated that he will step down when his term expires on April 2, appearing to reject a proposal that he extend his term until the country holds presidential elections. https://bloom.bg/3UTM9yr

LGBTQ rights: Ghana’s lawmakers passed a bill that seeks up to three years in prison for people identifying as an LGBTQ person, becoming the latest African nation to pass draconian laws aimed at the community. https://bloom.bg/3IiOKKE

Chadian opposition leader dies: Yaya Dillo died when security forces raided his party headquarters after accusing it of carrying out an attack on Chad’s internal-security agency, reports say. https://bloom.bg/3SVWZ4b

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

Xi Jinping’s consolidation of power has cleared the path for him to break China’s cycle of debt-driven growth and put the economy on a more sustainable footing. But there’s a big problem: He’s failing to convince the nation that’s a good idea.

As the world’s second-biggest economy undergoes a prolonged slowdown, Xi’s move to shun the old playbook of unleashing broad stimulus is spurring discontent.

Thousands of angry retail investors last month flooded the US Embassy’s Weibo page with criticism of the government’s handling of the economy in the midst of a $7 trillion stock rout. Elsewhere on the platform some even insinuated that only a change in the top leadership would spur markets — comments that managed to skirt censors before they were eventually taken down. More here: https://bloom.bg/4bTBGcj

📷: Kevin Frayer/Getty Images

Most polluted place on Earth: People living in one South African industrial region are subjected to air that regularly reeks of rotten eggs from the hydrogen sulfide emitted from industrial plants as well as a toxic combination of ash and toxic sulfur dioxide. https://bloom.bg/49UMXaE

Business woes temporary: Nigeria’s large and growing population is impossible for business to ignore and a recent exodus from the West African state won’t last, South African billionaire Christo Wiese tells Bloomberg TV. https://bloom.bg/3IhAVwb

Naira's plunge hits telecoms: MTN Group, Africa’s biggest wireless service provider by revenue, said full-year profit probably plunged as much as 90% as devaluations of Nigeria’s currency hit its financial performance. https://bloom.bg/3uWnui3

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

President Joe Biden’s ambassador to Singapore threatened staff, wasted money and poorly promoted US interests, according to an internal watchdog report.

The State Department’s inspector general said embassy employees interviewed as part of its regular review process “described a fear, and even direct threats, of reprisal” from Jonathan Kaplan, an entrepreneur and Democratic campaign donor who was confirmed as ambassador in late 2021.

Kaplan also “developed poor relationships with some Singaporean ministries,” which hurt progress on US efforts in the city-state, the report found. More here: https://bloom.bg/3wJFZqm

📷: Bill Clark/CQ-Roll Call/Getty Images

Ethiopia dilemma: The US expressed alarm about continuing human rights abuses in Ethiopia that may affect its ability to secure funding from multilateral lenders ahead of crucial International Monetary Fund bailout discussions. https://bloom.bg/49SaR6q

Bonds surge: Ivory Coast’s Eurobonds rallied after the nation’s credit rating was lifted by Moody’s Investors Service, which cited the resilience of the economy and rising private sector investments. https://bloom.bg/48FXp4w

Gas find: Australia’s Invictus Energy has discovered condensate and helium in a project in northern Zimbabwe that was abandoned by Exxon Mobil in the 1990s. https://bloom.bg/43493oB

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

BREAKING: China is targeting growth of around 5% in 2024. Follow our free-to-read live blog for the latest news and analysis as China unveils its GDP target and policy priorities at the National People's Congress https://bloom.bg/3TlzR0n

Recession avoided: South Africa’s economy escaped a technical recession in the fourth quarter as fewer power cuts helped energy-intensive industries rebound. https://bloom.bg/49YVCbX

Anti-LGBTQ law: Ghanaian President Nana Akufo-Addo delays his consideration of an anti-LGBTQ bill after it was challenged in court, postponing a potential showdown with international lenders whose funding is key to the country’s economic recovery. https://bloom.bg/3SVqWkQ

Acquisition talks: Vivendi’s Canal+ increased its bid for South Africa’s MultiChoice by almost a fifth and entered exclusive talks on acquiring control of the African broadcaster. https://bloom.bg/49Y5l2h

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

Bitcoin surged to an all-time high of more than $69,000, surpassing the record it set at the peak of the last crypto bull market more than two years ago.⁣
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In an ironic twist, Bitcoin owes much of its resurgence to a regulator long-viewed as hostile to crypto: the US SEC. The SEC approved spot-Bitcoin exchange-traded funds in early January after suffering a legal defeat last year in its attempt to reject them.⁣
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The move has widened the mass-market accessibility of Bitcoin, helping the crypto sector to turn the page following a bear market in 2022 and a string of subsequent bankruptcies, including the implosion of Sam Bankman-Fried’s FTX exchange. Read more here:⁣ https://trib.al/YXFgJ2Q

Subscribe to the Bloomberg Crypto Telegram channel: https://t.me/bloombergcrypto
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📷: Getty Images

Rates hike: Uganda’s central bank delivered an emergency interest-rate increase to curb inflation and support the battered shilling. https://bloom.bg/3InZUhi

Currency devaluation: Egypt hiked interest rates and allowed its currency to weaken more than 35% in a long-awaited devaluation that may pave the way for billions of dollars more in loans from the International Monetary Fund. https://bloom.bg/3TlFonQ

Deal sweetener: Ghana is resisting calls by holders of the country’s Eurobonds to offer a sweetener for restructuring $13 billion of debt, risking a self-imposed deadline for a deal. https://bloom.bg/4c4xExW

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

As lawmakers and advisers meet in Beijing this week for the nation’s biggest political gathering of the year, the Chinese Communist Party’s official People’s Daily newspaper released a list of the event’s buzzwords.

Tracking slogans and phrases from government and party documents has become an important way to gain insight into Chinese policymaking, especially as the country has increasingly restricted access to information.

From "AI plus" to "new three," here are the key terms that can help better understand China’s priorities for the upcoming year: https://bloom.bg/3V0IBdM

📷: Qilai Shen/Bloomberg

Power vacuum: Senegal is rushing to hold elections this month to elect a new president before Macky Sall's term ends, although different dates have been set by the nation’s top court and the government. https://bloom.bg/49HnEc6

Prescribed assets: The ANC plans to revive an apartheid-era rule that compels pension funds to invest in government-approved programs, assuming it retains power in the upcoming elections. https://bloom.bg/49Es5Vh

Gulf power play: Egypt has secured more than $40 billion in investments and loans from the UAE and IMF. And a Saudi deal may be next. https://bloom.bg/4a1O9ZB

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

LATEST: Hong Kong is fast-tracking the approval of Article 23, and proposes life imprisonment for treason and insurrection https://bloom.bg/4c5Anaa

Record drought: A swathe of southern Africa about the size of France suffered the driest February in decades, killing crops and precipitating a power shortage that threatens to hit copper mines in a key producing region. https://bloom.bg/49zzVPX

Somaliland recognition: Ethiopia is considering scrapping a plan to recognize the breakaway state of Somaliland, amid international pressure to defuse regional tensions over the proposal, sources say. https://bloom.bg/3PeJJql

Child abductions: Armed men abducted hundreds of children from an elementary school in northern Nigeria, triggering a new security challenge in the West African nation that's dealing with a cost-of-living crisis. https://bloom.bg/4c8sgde

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

Oppenheimer, the biographical film about the inventor of the atomic bomb, picked up a total of seven Academy Awards, including best picture and a first-ever Oscar for director Christopher Nolan.

Cillian Murphy won the best actor award for his portrayal of physicist J. Robert Oppenheimer. Robert Downey Jr. picked up the best supporting actor award for playing his nemesis Lewis Strauss.

The three-hour film from Comcast’s Universal Pictures led the nominations with 13. It also won for film editing, cinematography and score. See who else won here: https://bloom.bg/4a7nVoQ

📷: Rich Polk/Variety via Getty Images

Equity surge: Egyptian stocks resumed a world-beating stock rally after the North African nation devalued its currency and secured fresh funding to ease pressure on its economy. https://bloom.bg/43f0Huo

Losing power: Support for South Africa’s ruling African National Congress has fallen below 40%, less than three months before the country holds elections, a new opinion poll shows. https://bloom.bg/3TexFGY

Stormy weather: Tropical Storm Filipo is bearing down on Mozambique’s coast, where it’s forecast to make landfall south of the port city of Beira on Tuesday, bringing winds of up to 120 kilometers (75 miles) an hour and torrential rain. https://bloom.bg/3vcH89x

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

From banker to president: Former Credit Suisse Chief Executive Officer Tidjane Thiam signaled his intention to run for president of Ivory Coast in October next year. https://bloom.bg/43btf8h

Delay vote: Senegalese opposition politician Karim Wade asked the nation’s top court to annul a decision to schedule elections for March 24, arguing there’s not enough time to prepare for the ballot. https://bloom.bg/3TyCpZt

Thunder strikes: Filipo made landfall on Mozambique’s south-central coastline as a severe tropical storm, and the authorities say may impact more than half a million people. https://bloom.bg/3wMYIl3

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

Donald Trump clinches the Republican presidential nomination, capping off a stunning political comeback fueled by grievance and vengeance. He formally enters what’s poised to be the longest and costliest general election in recent memory.

The former president on Tuesday night crossed the threshold for the number of delegates needed to become the GOP nominee, the Associated Press reported. This allows Trump a free rein to consolidate the Republican Party’s political operation and fully turn his attention toward a rematch with President Joe Biden.

If elected, Trump has vowed to root out the so-called “deep state” of civil servants, crack down on illegal immigration, enact protectionist trade policies and curtail the US’s role in the world. More here: https://bloom.bg/3Ti5oz4

Big moves in crypto: South Africa will license about 60 cryptocurrency platforms by the end of the month, putting it among the first nations on the continent to require digital-asset exchanges to have permits to operate. https://bloom.bg/4cdEoti

Helping hand: The European Union is working toward an aid package for Egypt that will provide some €7.4 billion ($8.1 billion) in a mix of grants and loans as the country copes with fallout from the Israel-Hamas conflict. https://bloom.bg/4atNoZR

African exclusives: Billionaire Sunil Mittal’s Airtel Africa is considering an initial public offering for its mobile money unit that could value it at more than $4 billion, said people familiar with the matter. https://bloom.bg/48UsSjM

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz