Binance says it is now available to Syrian residents
June 12 (Reuters) - Crypto currency exchange Binance on Thursday said it has granted full access to Binance products and services to Syrian residents.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
31 minutes ago
- Reuters
Israel's growth revised higher to 3.7% annualised in first quarter
JERUSALEM, June 16 (Reuters) - Israel's economy grew more than previously estimated in the first quarter, boosted by exports and investment, the Central Bureau of Statistics said on Sunday, as the war in Gaza against Palestinian Islamist group Hamas continued to impact growth. In the bureau's second estimate, gross domestic product grew an annualised 3.7% in the first quarter from the prior three months, higher than an initial expectation of 3.4% and up from an upwardly revised 2.0% in the fourth quarter of 2024. Per capita GDP was 2.4%. The data follow figures also issued on Sunday showing the annual inflation rate easing to 3.1% in May from 3.6% in April. In the first quarter, the economy benefited from higher exports, investment and public spending, offset partially by lower consumer spending.
Reuters
39 minutes ago
- Reuters
US stock futures steady with focus on Mideast tensions, Fed meeting
June 16 (Reuters) - U.S. stock index futures edged higher on Monday as easing oil prices helped calm sentiment despite ongoing attacks between Iran and Israel and increased focus on the upcoming Federal Reserve meeting. Wall Street indexes shed more than 1% on Friday as oil prices surged 7% after Israel and Iran traded air strikes, feeding investor worries that the combat could widely disrupt oil exports from the Middle East. The dangers of further escalation loomed over a meeting of the Group of Seven leaders in Canada, with U.S. President Donald Trump expressing hope on Sunday that a deal could be done, but no signs of the fighting abating on the fourth day of war. Crude prices , , however, pulled back slightly from January highs, offering some respite to investors worried about a resurgence in inflation. The surge in oil prices comes ahead of the Fed's monetary policy decision on Wednesday, when policymakers are widely expected to keep interest rates unchanged. Investors will focus on Fed Chair Jerome Powell's comments as well as the central bank's updated projections for monetary policy and the economy for clues on potential rate cuts later this year. Money market moves show traders are pricing in about 48 basis points of rate cuts by the end of 2025, with a 55% chance of a 25-bps rate cut in September, according to CME Group's Fedwatch tool. "We expect the median participant to take on a more stagflationary flavor following April's tariff surprises, despite eased financial conditions from the weaker dollar, with higher inflation and downgraded GDP growth in 2025," Barclays strategists said in a note. "The dot plot is likely to show delayed rate cuts, with just one this year and three in 2026." Key data this week includes monthly retail sales and import prices. By 5:38 a.m. ET (0938 GMT), S&P 500 E-minis were up 23.75 points, or 0.4%, Nasdaq 100 E-minis rose 99 points, or 0.46%, and Dow E-minis added 143 points, or 0.34%. Shares of Sarepta Therapeutics (SRPT.O), opens new tab plunged 30% in premarket trading after the company disclosed a second case of patient death due to acute liver failure after receiving its gene therapy for a rare form of muscular dystrophy. U.S. Steel (X.N), opens new tab rose 5% after Trump approved Nippon Steel's (5401.T), opens new tab $14.9 billion bid for the company.
Reuters
an hour ago
- Reuters
What are bitcoin treasury strategies, the latest trend in the public markets?
June 16 (Reuters) - Certain public companies, including one founded by President Donald Trump, have been going on a cryptocurrency buying spree, capitalizing on higher token prices and a softening regulatory environment to load up on the attention-grabbing investment. Sixty-one publicly-listed companies not primarily engaged in digital assets have adopted what are known as bitcoin treasury strategies, in which firms allocate a portion of their cash and reserves toward the world's largest cryptocurrency, according to a report from Standard Chartered. Here is what you need to know about the trend: Many of those companies are seeking to replicate the success of Strategy (MSTR.O), opens new tab, formerly known as MicroStrategy, a software company that began accumulating bitcoin in 2020 and now holds more than $63 billion worth. Its stock is up more than 3,000% since 2020 as the price of bitcoin has skyrocketed, hitting fresh all-time highs above $110,000 this year. Strategy copycats have doubled their holdings in bitcoin in just the last two months to collectively hold just under 100,000 bitcoin, Standard Chartered said. Those firms include Trump Media & Technology Group (DJT.O), opens new tab, which raised $2.5 billion last month to invest in bitcoin. While investors can readily buy bitcoin directly or through an exchange-traded fund, investors typically cannot get the same kind of leverage a public company might be able to get through the convertible debt markets to buy bitcoin. Companies like Strategy trade at a premium to their bitcoin holdings because investors believe that those firms can utilize their access to credit markets to purchase even more bitcoin. Strategy and Trump Media & Technology Group did not immediately respond to requests for comment. Besides Strategy and Trump Media & Technology Group, a joint venture announced in April between SoftBank, stablecoin issuer Tether, and Cantor Fitzgerald - previously helmed by U.S. Commerce Secretary Howard Lutnick - caught investors' attention. The group is launching a $3.6-billion venture called Twenty One with the goal of acquiring bitcoin. SolarBank, a Toronto-based solar energy company, announced this month it would implement a bitcoin treasury strategy, saying it would expose the company "to a new category of tech-savvy investors." SolarBank has not disclosed how much bitcoin it plans to buy, only saying that the allocation strategy will be determined by management. "Traditionally, people invest in utilities as (an) afterthought. It's a very low return. It's a stable return," said SolarBank CEO Richard Lu. "So, how do we bridge the excitement of the new world and a classic industry? We feel that the crypto part of that is a bridge we need to cross." Upexi (UPXI.O), opens new tab, a consumer products company, recently launched a treasury for Solana, another top cryptocurrency. "It is a great way for a company to really bring attention to itself and grow," said Brian Rudick, the firm's chief strategy officer. "If a company has a fiduciary duty to do what's best for shareholders, and if you're going to raise funds and invest it in the operating business, or if you can invest in funds and put it into a digital asset treasury that the market is rewarding companies that do so, you should do the latter," Rudick said. The trend comes as Trump has sought to overhaul U.S. cryptocurrency policy after courting cash from the industry on the campaign trail. He signed an executive order in March to establish a strategic bitcoin reserve and has hosted industry leaders at the White House. Those moves have boosted the price of bitcoin and other cryptocurrencies. "It may be that some firms are trying to get political attention. This is clearly something President Trump has signaled his interest in," said Chester Spatt, a finance professor at Carnegie Mellon University. The stark shift in policy under Trump "is a serious tailwind for more and more institutions to get into the space," said Roshan Robert, CEO of crypto exchange OKX. "How institutions are looking at building out treasury applications is just a part of that broader picture." It is unclear if the various crypto treasury strategies will ultimately be successful, particularly if firms are buying in now as prices flirt with record highs in a sector that is no stranger to volatility. Charles Schwab, in a report last month, noted that if a company has significant crypto holdings that suddenly collapse in value, the firm could experience a liquidity crisis. Standard Chartered estimated that if bitcoin were to fall back below $90,000 it would put half of companies' bitcoin treasuries underwater. "As always, there will be some really, really big winners and some really big losers whenever there's a mania like this," said Ravi Doshi, the global co-head of markets at crypto platform FalconX.
