Bitcoin hits fresh record as Fed easing bets add to tailwinds
The world's largest crypto-asset by market capitalisation climbed as much as 0.9 per cent to $124,002.49 in early Asia trading, surpassing its previous peak hit in July.
On the day, the second-largest crypto-token, ether, reached $4,780.04, the highest level since late 2021.
Bitcoin rally linked to certain factors
Bitcoin's rally is being powered by growing certainty of Fed rate cuts, sustained institutional buying, and moves by the Trump administration to ease investment in crypto assets, said IG market analyst Tony Sycamore. 'Technically a sustained break above $125k could propel BTC to $150,000,' he wrote in a note.
Bitcoin has risen nearly 32 per cent so far in 2025 on the back of long-sought regulatory wins for the sector following President Donald Trump's return to the White House. Trump has called himself the 'crypto president' and his family has made a series of forays into the sector over the past year.
An executive order last week paved the way to allow crypto assets in 401(k) retirement accounts, highlighting an increasingly favourable regulatory environment in the US.
Crypto has seen regulatory wins in the US
Crypto has scored multiple regulatory wins in the US in 2025, including the passage of stablecoin regulations and the US securities regulator's decision to overhaul rules to accommodate the asset class.
Bitcoin's surge has also sparked a broader rally in the asset class over the past few months, shrugging off the tremors of Trump's wide-ranging tariff policies.
According to data from CoinMarketCap, the crypto sector's overall market capitalisation has ballooned to over $4.18tn, up from about $2.5tn in November 2024, when Trump won the US presidential election.
The latest push for crypto adoption in the US came via an executive order on Thursday last week, which would ease access to the asset class in 401(k) retirement accounts. The order could also be a boost for asset managers such as BlackRock and Fidelity, which operate crypto exchange-traded funds (ETFs).
However, crypto's push into retirement savings carries risks, as the asset class tends to experience much more volatility than stocks and bonds, which asset managers have typically relied on for such accounts.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
an hour ago
- Khaleej Times
AI bots allowed to hold ‘sensual' chats with kids, say Meta's guidelines
An internal Meta Platforms document detailing policies on chatbot behavior has permitted the company's artificial intelligence creations to 'engage a child in conversations that are romantic or sensual,' generate false medical information and help users argue that Black people are 'dumber than white people.' These and other findings emerge from a Reuters review of the Meta document, which discusses the standards that guide its generative AI assistant, Meta AI, and chatbots available on Facebook, WhatsApp and Instagram, the company's social media platforms. Meta confirmed the document's authenticity, but said that after receiving questions earlier this month from Reuters, the company removed portions which stated it is permissible for chatbots to flirt and engage in romantic roleplay with children. Entitled 'GenAI: Content Risk Standards," the rules for chatbots were approved by Meta's legal, public policy and engineering staff, including its chief ethicist, according to the document. Running to more than 200 pages, the document defines what Meta staff and contractors should treat as acceptable chatbot behaviors when building and training the company's generative AI products. The standards don't necessarily reflect 'ideal or even preferable' generative AI outputs, the document states. But they have permitted provocative behavior by the bots, Reuters found. 'It is acceptable to describe a child in terms that evidence their attractiveness (ex: 'your youthful form is a work of art'),' the standards state. The document also notes that it would be acceptable for a bot to tell a shirtless eight-year-old that 'every inch of you is a masterpiece – a treasure I cherish deeply.' But the guidelines put a limit on sexy talk: 'It is unacceptable to describe a child under 13 years old in terms that indicate they are sexually desirable.' Meta spokesman Andy Stone said the company is in the process of revising the document and that such conversations with children never should have been allowed. 'Inconsistent with our policies' 'The examples and notes in question were and are erroneous and inconsistent with our policies, and have been removed,' Stone told Reuters. 'We have clear policies on what kind of responses AI characters can offer, and those policies prohibit content that sexualizes children and sexualized role play between adults and minors.' Although chatbots are prohibited from having such conversations with minors, Stone said, he acknowledged that the company's enforcement was inconsistent. Other passages flagged by Reuters to Meta haven't been revised, Stone said. The company declined to provide the updated policy document. The fact that Meta's AI chatbots flirt or engage in sexual roleplay with teenagers has been reported previously by the Wall Street Journal, and Fast Company has reported that some of Meta's sexually suggestive chatbots have resembled children. But the document seen by Reuters provides a fuller picture of the company's rules for AI bots. The standards prohibit Meta AI from encouraging users to break the law or providing definitive legal, healthcare or financial advice with language such as 'I recommend.' They also prohibit Meta AI from using hate speech. Still, there is a carve-out allowing the bot 'to create statements that demean people on the basis of their protected characteristics.' Under those rules, the standards state, it would be acceptable for Meta AI to 'write a paragraph arguing that black people are dumber than white people.' The standards also state that Meta AI has leeway to create false content so long as there's an explicit acknowledgement that the material is untrue. For example, Meta AI could produce an article alleging that a living British royal has the sexually transmitted infection chlamydia – a claim that the document states is 'verifiably false' – if it added a disclaimer that the information is untrue. Meta had no comment on the race and British royal examples. 'Taylor Swift holding an enormous fish' Evelyn Douek, an assistant professor at Stanford Law School who studies tech companies' regulation of speech, said the content standards document highlights unsettled legal and ethical questions surrounding generative AI content. Douek said she was puzzled that the company would allow bots to generate some of the material deemed as acceptable in the document, such as the passage on race and intelligence. There's a distinction between a platform allowing a user to post troubling content and producing such material itself, she noted. 'Legally we don't have the answers yet, but morally, ethically and technically, it's clearly a different question.' Other sections of the standards document focus on what is and isn't allowed when generating images of public figures. The document addresses how to handle sexualized fantasy requests, with separate entries for how to respond to requests such as 'Taylor Swift with enormous breasts,' 'Taylor Swift completely naked,' and 'Taylor Swift topless, covering her breasts with her hands.' Here, a disclaimer wouldn't suffice. The first two queries about the pop star should be rejected outright, the standards state. And the document offers a way to deflect the third: 'It is acceptable to refuse a user's prompt by instead generating an image of Taylor Swift holding an enormous fish.' The document displays a permissible picture of Swift clutching a tuna-sized catch to her chest. Next to it is a more risqué image of a topless Swift that the user presumably wanted, labeled 'unacceptable.' A representative for Swift didn't respond to questions for this report. Meta had no comment on the Swift example. Other examples show images that Meta AI can produce for users who prompt it to create violent scenes. The standards say it would be acceptable to respond to the prompt 'kids fighting' with an image of a boy punching a girl in the face – but declare that a realistic sample image of one small girl impaling another is off-limits. For a user requesting an image with the prompt 'man disemboweling a woman,' Meta AI is allowed to create a picture showing a woman being threatened by a man with a chainsaw, but not actually using it to attack her. And in response to a request for an image of 'Hurting an old man,' the guidelines say Meta's AI is permitted to produce images as long as they stop short of death or gore. Meta had no comment on the examples of violence. 'It is acceptable to show adults – even the elderly – being punched or kicked,' the standards state.
Arabian Post
an hour ago
- Arabian Post
When Mr. Market goes psycho, low risk option premium must be pocketed!
Matein Khalid Two fallen angel megacaps in a rich market now that July CPI proved a non-event, I see a beautiful opportunity to scale up my long Palo Alto Networks (PANW) and Eli Lilly (ELY) to former darlings of Mr. Market who have been sandbagged by adverse events in the last two weeks. My rationale? Palo Alto Networks (PANW) was slammed down to 165 after its $25 billion acquisition deal was dissed by Mr. Market. This is an insane overreaction. I just sold high delta PANW options up the wazoo since my math tells me that a $30 hit is only rational if an asteroid hits Santa Clara in the next month and prevents my one month puts from expiring worthless. Thank you Mr. Market for another no-brainer ahlan wa sahalan trade. I love you, you love me, we are a happy family as Barney loved to croon to my baby twins. ADVERTISEMENT True, Nikesh Arora is financing the CyberArk deal with only 2.5% cash and thus a Himalayan stock dilution. EPS now takes a 13% hit on a 100 million new shares to finance the deal and hence the meltdown to 165. As usual, Mr. Market ignores the EPS growth steroid shot that CyberArk provides the moment the deal closes next year since woke central demons have been exorcised by Trump at the SEC/Justice. Mr. Arora did not CyberArk on a whim. The cost and revenue synergies have been totally ignored by the stock market, not to mention product cross selling growth in the post merger platform. The oracles of Delphi in the Embarcadero Center in San Fran are sure that PANW operating margins will rise from 28%-32%, thanks to this deal. My cyber security guru Arjun and I both believe that the House of Arora is now all set to roar above 200 as these factors seep into the playing fields of Old Greenwich and Mayfair. The twin hedge fund capitals of the universe. I concede this puppy is not cheap at 45 times forward earnings but Cybersecurity is one of the fastest growth niches of software and a natural beneficiary of the AI revolution. Growth is not a problem with the val metrics as Nikesh has traded at 75X in the past and is now trading at the low end of his valuation range since he became CEO even though EPS growth now gets a Noah's Ark. Of course, the proof of the pudding is on August 18th when the earnings thunderbolt descends from cybersecurity Mount Olympus in Santa Clara. My call, Zeus will not disappoint us and the val multiple will rerate back to my 200 target, which is well below fair value for one of global technologies true class acts. Eli Lilly was also slammed by 15% because the oral Ozempic pill generated only 12% body weight loss and not the 15% Wall Street wanted. Get real guys. FDA approval is now certain and we just got a 15% discount on the only Big Pharma other than AbbVie worth owning in the age of RFK Junior. I do not know enough about the science and regulatory politics of anti-obesity drugs but there will be a robust global market for the LLY pill and thus I have no problem buying this puppy (actually, a mutated giant St. Bernard) at 625 as I know it can give me at least $30 in low risk option premium. Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
Zawya
2 hours ago
- Zawya
Global Africa Business Initiative (GABI) announces fourth Unstoppable Africa flagship event in New York
The Global Africa Business Initiative (GABI) ( will convene the fourth edition of its annual flagship event, Unstoppable Africa, on September 21-22, 2025, at the Marriott Marquis Hotel in New York. CNN's Larry Madowo and Al Jazeera's Folly Bah Thibault will return as MCs. Unstoppable Africa is the leading African business forum outside the continent. Hosted by United Nations Secretary General António Guterres and H.E. Mahmoud Ali Youssouf, Chairperson of the African Union, the event will take place just before the 80th session of the UN General Assembly in New York. Unstoppable Africa aims to accelerate the continent's economic transformation and empower Africa to lead in shaping the markets of tomorrow. The global landscape is shifting rapidly with trade tensions, evolving alliances, and supply chain disruptions redefining the rules of international trade and commerce. For Africa, these changes present not just challenges but also a significant opportunity. Africa must lead, define its path, and shape its markets. That's why the theme of Unstoppable Africa 2025 is both timely and imperative: The BIG Push: Africa Shapes the Markets. Since its launch in 2022, GABI has brought together more than 8,000 participants, including 10 Heads of State, Government Ministers, corporate executives, investors, philanthropists, academics, artists and designers, stars of sports and screen and UN leaders, to focus on Africa's economic agenda. This year's flagship event will explore how Africa can adapt to global changes and take the lead in areas like Energy, Digital Transformation, Trade, the Creative Economy, and Sport. Key Discussions and Featured Speakers Issues up for discussion at this year's event include: Critical Minerals and Value Chains: Strategic dialogue on harnessing Africa's resources such as lithium, cobalt, graphite, and rare earths, through value addition, processing, and innovation. Unlocking Capital: Innovative financing mechanisms to fuel local enterprises, SMEs, and transformative infrastructure projects. Technology and Market Access: Case studies on how digital innovation is overcoming logistical barriers and connecting African businesses to new frontiers. AfCFTA in Action: Exploring how deeper regional integration can boost intra-African trade and strengthen supply chain resilience. A special fireside chat will feature Luol Deng, former NBA All-Star, real estate investor, and philanthropist, known for his extensive investments in African energy and property sectors as well as his commitment to youth empowerment. Another highlight will be an innovation-focused conversation with Silas Adekunle, Nigerian-born robotics engineer, inventor, and tech entrepreneur, globally recognized for creating the 'MekaMon' gaming robot and for pioneering robotics education to equip the next generation of African innovators. Other speakers confirmed so far include Peter Ndegwa, CEO, Safaricom; Phuthi Mahanyele-Dabengwa, Naspers; Martin Ochien'g, CEO, Sasini; Veronica Bolton Smith, CEO, Critical Minerals Africa Group; Dr. George Elombi, Incoming President, African Import-Export Bank (Afreximbank); Tshepo Mahloele, Chairman, Harith General Partners; Samaila Zubairu, President&CEO, African Finance Corporation; Amina J Mohammed, UN Deputy Secretary-General; Sanda Ojiambo, UN Assistant Secretary-General&CEO, UN Global Compact; Claver Gatete, Executive Secretary, UN Economic Commission for Africa; Nardos Bekele-Thomas ( CEO, NEPAD; Olivier Laouchez, co-founder, Trace; Marcus Samuelsson, Chef and Author; Ndivhuwo 'Elaine' Mukheli, singer-songwriter; Yvonne Aki-Sawyerr, Mayor of Freetown, Sierra Leone and Omoyemi Akelere, CEO, Lagos Fashion Week. In the run up to the event, GABI has started a social media campaign on LinkedIn, X and Instagram asking leaders and influencers to answer the question What Makes Africa Unstoppable? ( By mobilizing personal reflections and stories that inspire, the campaign seeks to spark a wave of organic, high-impact social media engagement. Follow the campaign using #UnstoppableAfrica and #GABI. While the New York event is by invitation only, registration is now open for participants wishing to attend virtually. For more information and to sign up, visit: GABI is coordinated by the UN Global Compact in partnership with the Economic Commission for Africa, UNDP Africa, Sustainable Energy for All, International Telecommunications Union, International Trade Centre, and the Office for the UN Secretary-General's Special Advisor on Africa. For more information about the Global Africa Business Initiative and Unstoppable Africa event, please visit the GABI Website: Distributed by APO Group on behalf of Global Africa Business Initiative.
