In an illuminating interview with CNBC during the Token2049 conference in Singapore, Binance’s newly appointed CEO, Richard Teng, reported an impressive 40% growth in institutional and corporate investors on the platform this year. This surge signals a profound evolution in the crypto ecosystem, which is gradually shaking off the uncertainties of regulatory scrutiny and market
Finance
In a cautious yet optimistic assessment, the Federal Reserve has indicated that it might further reduce interest rates by up to half a percentage point before the conclusion of 2024. This forecast stems from the minutes of the latest Federal Open Market Committee (FOMC) meeting, which revealed that a majority of committee members—comprising both voting
As Americans grapple with the prospect of retirement, an increasing number are considering the option of working longer as a remedy for inadequate savings. According to a recent CNBC and SurveyMonkey survey, approximately 27% of workers plan to work during retirement primarily to supplement their income. This statistic reflects a broader concern among the current
In recent months, the specter of a consumption slowdown has loomed large over the Chinese economy, drawing attention from analysts and policymakers alike. The root causes of this phenomenon are tightly woven into the fabric of the country’s real estate sector, local government finances, and mounting debt levels. This article delves into the intricacies of
The landscape of global monetary policy is witnessing significant transformations, particularly as central banks navigate the complexities of inflation, economic recovery, and geopolitical pressures. A recent report by Fitch Ratings sheds light on the anticipated easing cycle of the U.S. Federal Reserve and draws comparisons with trends emerging in Asia, spotlighting the differentiated strategies adopted
Recent data from China’s National Bureau of Statistics reveals a troubling slowdown in the country’s economic performance for August, raising alarms among economists and market analysts. Retail sales, industrial output, and urban investments all posted growth figures that failed to meet the expectations set by predictions from Reuters. This performance is not just a blip;
In an ambitious attempt to spur economic growth, China recently announced a series of measures aimed at enhancing domestic consumption. This strategy includes the introduction of 300 billion yuan (approximately $41.5 billion) in ultra-long special government bonds, dedicated primarily to broadening the existing trade-in and equipment upgrade policies. While the intent behind this initiative is
Dutch challenger bank Bunq is setting its sights on significant expansion in the coming year, with plans to increase its global headcount by 70% to over 700 employees. This move comes at a time when other financial technology startups are opting to cut jobs in response to challenging market conditions. Bunq, which currently operates in
Recently, a top Federal Reserve official announced significant changes to a proposed set of U.S. banking regulations that would affect the amount of extra capital that large institutions are required to hold. The original proposal, known as the Basel Endgame, was introduced in July 2023 and aimed to increase capital requirements for the world’s largest
JPMorgan Chase experienced a significant drop in share prices, falling 5% after the bank’s president, Daniel Pinto, expressed concerns about the overly optimistic expectations for net interest income (NII) and expenses up to 2025. Pinto stated that while the bank is aiming to achieve the 2024 NII target of $91.5 billion, the current estimate of