Alibaba and China Telecom are moving ahead with a new data centre project in southern China, powered entirely by the e-commerce giant’s in-house AI chips, as Beijing steps up efforts to build domestic computing infrastructure. Summary Alibaba and China Telecom launched a 10,000-chip AI data centre in Guangdong using Zhenwu semiconductors to support large-scale models.
Bitcoin surged more than 5% on Tuesday evening, climbing above $72,500 after President Donald Trump said on Truth Social that the US would suspend bombing Iran for two weeks if Tehran agrees to the complete, immediate, and safe reopening of the Strait of Hormuz. The move lifted broader risk sentiment across crypto and global markets.
UBS and five other major banks in Switzerland will be sandboxing a franc-based stablecoin. A total of six banks in Switzerland have partnered to test potential use cases for a Swiss franc stablecoin, Reuters reported, citing banking giant UBS. Per the announcement, the banks are going to launch a secure digital live environment –
U.S. lawmakers have begun questioning the Commodity Futures Trading Commission over the agency’s inaction on alleged insider trading in prediction markets tied to geopolitical events. Summary Seven House lawmakers questioned the Commodity Futures Trading Commission over its response to alleged insider trading in prediction markets tied to military events. The letter pointed to contracts linked
UBS Group AG, Switzerland’s largest universal bank, has joined forces with five other major Swiss financial institutions to launch a sandbox initiative to test a Swiss franc–denominated stablecoin, according to a Wednesday press release. The partners are PostFinance, Sygnum, Raiffeisen, Zürcher Kantonalbank, and Banque Cantonale Vaudoise. They are working alongside Swiss Stablecoin AG, which provides
Almost all financial markets reacted positively to the big development, aside from oil. After a few consecutive days of warning shots, the US and Iran reached a two-week cease-fire, which would allow them to negotiate for a permanent peace deal. Financial markets responded immediately to the news, but in opposing ways. While most assets,
President Donald Trump said the United States and Iran were “very far along” toward a “definitive” peace agreement, confirming that Washington had agreed to a two-week ceasefire to keep negotiations on track. Summary The US and Iran agreed to a two-week ceasefire to allow negotiations toward a peace deal to proceed. Oil prices fell below
Trump’s statement on managing Iran’s uranium as part of the ceasefire deal has pushed odds for a US-Iran ceasefire by April 15 to 99.6% YES, up from 14% just 24 hours ago. Market reaction Sub-markets for April 30 and June 30 sit at 99.5% and 99.6% YES respectively. The term structure is flat, meaning traders
The stablecoin market is likely to become a cornerstone of global financial infrastructure, and Morph intends to remain a part of the movement. The stablecoin sector has seen significant growth over the last few years. With a 60-fold increase in market cap since 2020, the sector is likely to become a cornerstone of global
XRP price has now rejected the descending trendline resistance at least three times since late March, and the most recent failure on April 6 to 7 arrived on rising volume, a signal analysts associate with bearish continuation rather than consolidation. Summary XRP price is at $1.3184 on April 7 after being rejected at the descending