Swiss private bank Julius Baer names new South East Asia market heads
May 30 (Reuters) - Switzerland-based private bank Julius Baer (BAER.S), opens new tab said on Friday it has appointed Shui Wei Ho and Vi Sun Yang as market heads for South East Asia, effective July 1.
Shui Wei and Yang will replace Chin Lit Yee, who is retiring after nearly a decade at the bank.
Yang took on the role as Group Head South East Asia in July 2022, while Shui Wei joined in the same role a month later.
Both Shui Wei and Yang will remain based in Singapore and report directly to Jimmy Lee, the region head Asia and member of the global wealth management committee, the bank said.
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Getting your Trinity Audio player ready... As of May 2025, Bitcoin mining is experiencing a transformative phase driven by technological advancements, regulatory shifts, and evolving economic dynamics. With BTC's price soaring past $110,000, the industry is witnessing a global 'digital gold rush' as nations and companies capitalize on the digital currency's bullish momentum. From Pakistan's bold energy allocation to cutting-edge hardware innovations and shifting profitability landscapes, recent news highlights a rapidly evolving sector navigating opportunities and headwinds. This article explores the key trends shaping Bitcoin mining in May 2025, reflecting a mix of strategic national policies, technological breakthroughs, and market challenges. One of the most significant developments is Pakistan's ambitious move to allocate 2,000 megawatts (MW) of surplus electricity to BTC mining and AI data centers, announced at the BTC Vegas 2025 conference. 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The U.S. has seen persistent demand for BTC through spot exchange-traded funds (ETFs), with $3.3 billion in net inflows in May alone. However, not all news is positive: BlackRock's spot Bitcoin ETF recorded its largest outflow day on May 30, with $430.8 million withdrawn, ending a 31-day inflow streak. This volatility underscores the market's sensitivity to macroeconomic factors, such as rising U.S. Treasury yields and trade tensions with China. Globally, other nations are joining the mining race. Ecuador hosted its first Bitcoin mining event in Guayaquil, signaling a growing interest in Latin America. Meanwhile, countries like Kazakhstan, Japan, Malaysia, and Bhutan continue to embrace legal mining to bolster their economies. The global hash rate is climbing, reflecting increased competition, but this also raises environmental concerns. A recent analysis suggests AI data centers could surpass Bitcoin mining in energy consumption by year-end, potentially consuming as much power as a country like the U.K. This has sparked debates about sustainability, with environmental advocates pushing for greener blockchain solutions. However, miners resist abandoning existing hardware investments. Home mining is also making a comeback, driven by falling energy prices in key U.S. states, cheaper ASICs, and regulatory clarity from frameworks like the EU's MiCA. Platforms like BCC Mining have launched mobile apps offering 'free cloud mining' for BTC, Litecoin, and Dogecoin, lowering barriers for retail miners. However, the profitability squeeze and high initial costs remain hurdles for small-scale operations. Market sentiment remains bullish, with analysts predicting BTC could reach $200,000 to $330,000 by year-end, driven by institutional adoption and post-halving scarcity. 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