Latest news with #Bitcoin
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New Straits Times
26 minutes ago
- Business
- New Straits Times
MARKET PULSE AM MAY 29, 2025 [WATCH]
KUALA LUMPUR: News on the latest moves on the stock and crypto markets. Bursa Malaysia's 30-stock index opened higher despite muted overall activity, with only 2.5 billion shares traded yesterday. As such, the ongoing consolidation may persist in the absence of any catalysts. The FBM KLCI is expected to trend within the 1,520 to 1,530 range today. In the cryptocurrency market, Bitcoin saw an increase, trading at RM459,312. Ethereum also followed the positive trend, rising to RM11,516, while Solana traded at RM734. That's it for Market Pulse.
Miami Herald
an hour ago
- Business
- Miami Herald
Wall Street's TACO trade gains momentum amid stock market rally
Whether you are bullish, bearish, or indifferent, there's one thing every person involved in the stock market hates - volatility. This is true whether you are a seasoned investor who buys to hold stocks and invest in them, or a day trader making dozens of daily transactions. During his second term, President Donald Trump's economy has been defined by volatility. The charts for the S&P 500, Dow Jones, and Nasdaq indexes are starting to look a lot like Bitcoin charts, with wild 700-point swings either way. Related: Donald Trump wants a Golden Dome; this company could win big But swimmers swim, shooters shoot, and investors trade. So, despite the market's current volatility, investors are finding ways to profit from it. While strategies vary, one group of investors relies on a simple mantra to make money and take advantage of the poker face behind the man causing all of the volatility, President Trump. Image source:The new trade sweeping Wall Street is called a "TACO" trade. TACO stands for "Trump Always Chickens Out." The term was reportedly first coined by Financial Times writer Robert Armstrong, who noticed a pattern that could help investors. A TACO trade goes like this: Donald Trump goes on social media and unexpectedly announced a 25% tariff on steel and aluminum imports. Stocks tied to steel and aluminum immediately nosedive, only to reverse course when Trump changes his mind weeks later. More Trump news Hollywood reeling from surprising Trump announcementDonald Trump gives car buyers a lifeline with latest decisionWhite House advisor claps back after Elon Musk takes shot Shrewd investors have noticed this pattern. Just this week, the Dow Jones Industrial Average jumped 700 points after Trump announced that he was extending the deadline for the U.S. and EU to work out a trade deal just days after he announced tariffs were coming. So if Trump announces a big sweeping economic policy, its best not to overreact - because TACO. Trump himself was asked about this phenomenon Wednesday, but he disagreed with the premise. "I've never heard that. You mean because I reduced China from 145 percent that I set down to 100, and then down to another number, and I said you have to open up your whole country?" Trump said. "And because I gave the European Union a 50 percent tariff and they called up and said, 'Please let's meet right now.'" "You call that chickening out?" Trump said, according to The Hill. Stocks have been on fire this week, rallying thanks, in part, to new developments in tariffs. President Donald Trump has said in the past that he loves everything about tariffs. Even the word "tariff" is one of his favorites in the dictionary, he claims. However, his implementation of these import taxes has showcased his love-hate relationship with the concept. On May 26, the president announced extending the deadline to implement 50% tariffs on the EU to July 9 from July 1. This announcement came just three days after Trump initially announced the tariffs. If the U.S. and EU fail to reach an agreement, Bloomberg Economics calculations show that a price hike of more than 0.3% could affect $321 billion worth of U.S.-EU goods trade. Trump has extended deadlines with other trade partners before, and earlier this month, the administration declared its most significant trade victory yet when it announced that it reached an outline for a trade deal with the United Kingdom. Related: UK trade deal gives car buyers a glimpse of what the future holds The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Time of India
an hour ago
- Entertainment
- Time of India
Livvy Dunne posed through the pain — Sports Illustrated cover shot with a broken kneecap
Livvy Dunne confesses to shooting Sports Illustrated cover while hiding a painful knee injury (Getty Images) Olivia "Livvy" Dunne may have left the gymnastics mat, but she's still flipping expectations. The former LSU gymnastics star recently made waves not just for landing the cover of Sports Illustrated Swimsuit, but for the grit it took to get there—posing through the pain of a fractured kneecap. Behind Livvy Dunne 's stunning Sports Illustrated cover is a hidden injury that made it hurt In a behind-the-scenes Instagram reel released by Livvy Dunne, fans got a rare peek into her Bermuda shoot for Sports Illustrated Swimsuit. The sunny beaches and vibrant swimsuits may have painted a picture-perfect scene, but underneath it all was a harsh reality few knew. 'Fun fact, I was shooting on a fractured kneecap, so poses like this and the cover shot kind of hurt, but it was honestly so worth it,' Dunne revealed in the video voiceover, as she knelt on the sand in an animal print bikini—ironically striking the very pose that ended up gracing the cover. Interestingly, Dunne had no idea during the shoot that she was creating what would become one of the year's most talked-about magazine covers. 'Little did she know she was shooting her COVER,' the official Sports Illustrated Swimsuit Instagram commented. The injury wasn't a surprise to her loyal followers. Two months earlier, in March, Dunne had already shared her battle with an avulsion fracture of her patella—an injury that benched her during LSU's senior night. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo 'Hi friends! Unfortunately, I've been dealing with an avulsion fracture of my patella and will not be able to compete on senior night,' she wrote. 'It absolutely breaks my heart to not get the opportunity to compete in the PMAC one last time. Tiger fans, you've been so good to me! Thank you for the endless support and as always Geaux Tigers! – Liv.' Her college gymnastics journey wrapped in April with LSU finishing third in the NCAA semifinals. Dunne marked the end of this era with heartfelt words in a tribute video: 'You will always be my first love… Time did fly by and I will cherish every memory for the rest of my life.' While she said goodbye to gymnastics, Dunne stepped into the spotlight of her next chapter. 'I AM A SPORTS ILLUSTRATED SWIM COVER MODEL! Somebody pinch me!' she wrote in May, as her cover was officially unveiled—joining the likes of Salma Hayek, Jordan Chiles, and Lauren Chan. Livvy Dunne's Sports Illustrated shoot (Getty Images) If there's anything this journey has proven, it's that Olivia Dunne isn't just a star athlete or a cover girl—she's a relentless fighter with a smile that doesn't flinch, even in pain. Also Read: Why David Ortiz's Barry Bonds comparison might change how you see Juan Soto's Mets struggles Get IPL 2025 match schedules , squads , points table , and live scores for CSK , MI , RCB , KKR , SRH , LSG , DC , GT , PBKS , and RR . Check the latest IPL Orange Cap and Purple Cap standings.
Nikkei Asia
2 hours ago
- Business
- Nikkei Asia
Trump administration ties bitcoin to US-China rivalry amid regulation revamp
LAS VEGAS, Nevada -- Bitcoin, once the symbol of decentralized, nongovernment digital assets, is now emerging as a chip in geopolitics, with the Trump administration calling for supporters to buy and hold the cryptocurrency as a way to outcompete China. Speaking at the Bitcoin Conference in Las Vegas on Wednesday, U.S. Vice President JD Vance said bitcoin is going to be a "strategically important asset" for the U.S. over the next decade.
Yahoo
2 hours ago
- Business
- Yahoo
Bitcoin mining impacts Northeast TN from Limestone to Mountain City
LIMESTONE AND MOUNTAIN CITY, Tenn. (WJHL) — Mountain City Mayor Jerry Jordan sees multiple potential benefits if a Bitcoin mine comes to his town, but says 'I don't want to get snaked' by any unexpected negatives. County commission OKs Bitcoin lawsuit settlement 'My reputation's on the line. I've lived here practically all my life, and I don't want to bring something in here that's going to be detrimental to this community and this town,' Jordan told News Channel 11 Wednesday. Early that morning, Preston Holley stood across Lola Humphreys Road from Northeast Tennessee's only active Bitcoin mine, in the New Salem community of Washington County. With a constant drone emanating from the fans that cool racks of computers — the machines that perform complex calculations to 'mine' for Bitcoin, a cryptocurrency — Holley had a suggestion for Jordan and his community. 'I would caution any community who's being told that this kind of a facility is going to be built to make sure that they (the Bitcoin company) hold themselves accountable for everything that they say they're going to do, but not to trust anything as far as the noise levels go,' Holley said. 'There will be noise no matter no matter what technology they use to dampen it.' Speaking of dampening, the company wanting to put a mine in Mountain City says it plans to use a newer cooling technology if it opens a facility there. CleanSpark, a national company that focuses specifically on mining Bitcoin, the most popular cryptocurrency, has been in talks with community leaders in Mountain City about opening a 30 megawatt mining facility just off Highway 421 south of downtown. 'We are known in the industry as innovators in immersion cooling,' CleanSpark Senior Vice President Harry Sudock told News Channel 11 in an email. 'Some deployments have significant noise mitigation benefits and those would be the designs we intend to deploy in Mountain City.' Assurances from Jordan and Mountain Electric Cooperative CEO Rodney Metcalf — the utility would sell the massive amounts of electricity needed to power the computers that race to unearth new Bitcoins or verify crytpo transactions — haven't yet put a stop to community opposition. Dozens of people turned out at a meeting earlier this month to voice concern over everything from noise and health impacts to strain on the power grid and a low number of projected jobs. 'I'm going on 16 years (as an elected town representative) and I've never seen anything like this before,' Jordan said. Holley's community was hit unawares when a company called GRIID started operating the 20MW mine just off Bailey Bridge Road in early 2021. BrightRidge, the utility selling it power from an adjacent substation, had told Washington County commissioners only that it was planning to open a 'blockchain data center' when it applied for a rezoning in 2020. Once the noise began, the community rose up. 'This was normally a quiet, peaceful place to be,' Holley said. 'You heard the birds. You heard farm sounds. Now we sound like we're on a four-lane highway. There's a constant sound of these fans running. There's no tuning it out.' Commissioners, angered at the lack of early transparency, learned that the company may have built without a permit and that became the basis for a lawsuit. GRIID settled, offering to pay fines until closing the mine no later than March 2026. Eventually, CleanSpark bought GRIID, which was heavily in debt. Mountain City's been grappling with the Bitcoin issue ahead of time. CleanSpark was open in its talks with Mountain Electric, which could use a large power customer to offset the loss of Parkdale Mills, which closed late last year. Planning commissioners discussed the proposal openly, and asked CleanSpark for more specific site plans and additional details. 'I said, you know, the one in Limestone is a disaster, and they offered I could come down there and look at (an operating facility that uses liquid cooling),' Jordan said. 'So we we took them up on their offer.' A delegation of local leaders visited a facility in Norcross, Ga. that uses liquid cooling. Jordan, who took a decibel-reading app, said he came away convinced a facility housed inside a large building and using liquid cooling could operate without reaching nuisance levels of noise. Asked whether the company could have simply dialed back the intensity of 'mining' taking place to reduce the need for cooling, Jordan admitted that was a possibility. 'They assured me they would be a good community partner, so I'll take them at their word,' Jordan said. 'We reviewed the facility and looked at it. I don't see a problem with it.' Next up is a town-funded charter bus trip June 16 so citizens themselves can check out the Norcross facility. 'We want to do our due diligence,' he said. 'We want people to see what we saw.' CleanSpark's Sudock said the company 'understand(s) that past experiences have created community concerns, and that's why we are committed to transparency and education around how our facilities are designed.' He said the company 'conducts comprehensive sound studies' to determine potential impacts and ultimately 'design facilities that integrate seamlessly into the community and support a peaceful, low-impact environment.' He said CleanSpark is continuing to engage with the Mountain City and hopes to share more about operations and the company's track record 'to help address concerns and build understanding.' He said the company's approach 'has always been to listen first and proceed only where there's mutual interest.' Concerns about stress on the power grid have been expressed across the country where Bitcoin mining is concerned — as well as data centers that support artificial intelligence — and that's no different in Mountain City. Sudock said CleanSpark facilities can easily ramp down during peak demand 'to support the broader system,' and in fact did so during recent hurricanes in Georgia. He said in the Tennessee Valley Authority region, CleanSpark is among the largest participants in TVA's 'Powerflex' program, which he said directly benefits all ratepayers. BrightRidge offered Bitcoin mine operator $100,000 incentive, said noise wouldn't be issue 'In addition, we contribute meaningfully to local tax bases, provide steady revenue to local utilities which helps stabilize household energy costs, and we are proud to support community programs through donations and sponsorships,' Sudock said. Jordan said he reckons the personal property tax from an eight-figure investment in equipment is likely to bring more than $100,000 to town coffers, and even more to Johnson County. While the number of jobs created isn't high, Jordan thinks the wages will be very competitive — and he'd like to see conditions requiring most of those jobs go to local people. 'If the noise isn't an issue and it's safe and it only creates 12 jobs, those are 12 jobs we don't have and they will be good wages,' Jordan said. The preliminary site plan calls for a building about 400 by 60 feet (roughly 24,000 square feet). The earliest a Planning Commission okay could come would be June 27, more than a week after the public trip to Norcross. In Limestone, Holley is looking forward to the mine's closure in less than a year — even though that means the free fiber internet BrightRidge has provided as part of the settlement won't be free anymore. But BrightRidge recently placed a moratorium on new data centers (including Bitcoin mines) after an outcry in Johnson City, where residents feared CleanSpark was planning to build a replacement for the Limestone mine. Holley said he hopes that doesn't create a temptation for BrightRidge and CleanSpark to keep the current mine open past next March. 'The other communities where they're wanting to put these facilities are also in opposition to them and understandably so,' Holley said. 'So if that slows down the process, yeah, I wouldn't like that. But at the same time, I don't want this on any community.' For Holley, it's all going to come down to whether CleanSpark stands by its claims of wanting to be a positive impact on the communities where it operates. Much of that, he said, revolves around noise. Sudock said the company is investing in 'advanced noise mitigation technologies, including immersion cooling, site design enhancements, and emerging acoustic cancellation tools.' He called those efforts 'a core part of our engineering process, not an afterthought' due to the company's desire for its facilities 'to blend into the community.' Holley said if he were a Mountain City resident with a chance to visit a facility and talk to company representatives, 'I'd sure like to to know more about it.' But he said a company-arranged trip to another Bitcoin mine site would only be 'a nice start.' 'Seeing one might tell us a little bit, but I'd like to talk to the community members and people around there to find out, 'how exactly has this affected you?' Because, you know, (CleanSpark's) side is one thing. I'd like to hear from the people who have to be there every day.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
