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Business News

News, Markets, Comms and Culture

May 15, 2025

Sydney, Australia

Markets

Australian Dollar: $0.6420 USD (down $0.0050 USD)
Iron Ore June Spot Price (SGX): $101.70 USD (up $2.10 )
Oil Price (WTI): $62.89 USD (down $0.74)
Gold Price: $3,179.41 USD (down $72.13)
Copper Price (CME): $4.6435 USD (down $0.0650)
Bitcoin: $103,541.08 USD (down 0.93%)
Dow Jones: 42,051.06 (down 89.37 points)

News

Australia

Miners, energy help ASX to sixth day of gains

The Australian sharemarket posted a modest gain on Wednesday, with the S&P/ASX 200 adding 0.1 per cent to close at 8,279.6 points. Fortescue was up 2.2 per cent at $16.97, Woodside Energy rose 3.4 per cent to $22.31 and the Commonwealth Bank firmed 0.8 per cent to end the session at $167.50. However, Insignia Financial shed 15.8 per cent to finish at $3.37 and Aristocrat Leisure was down 8.9 per cent at $62.10. (Roy Morgan Summary)

News

Media

CNN and Fox take on their own legacies with new streaming services

Fox Corporation is set to launch its third streaming service in the US. Fox One will feature content from across the media group's operations, including news, sport and entertainment. It will complement Fox Corp's existing Fox Nation streaming news channel and Tubi, a free advertising supported general entertainment streaming platform. Meanwhile, Warner Bros Discovery-owned CNN plans to launch a news streaming service that will be bundled with subscriptions to http://cnn.com. Fox Corp and CNN are both confident that their new streaming products will not cannabilise the customer base for their cable TV services. (RMS)

News

Rio shows we must invest in green iron: Fortescue boss

Rio Tinto recently advised that the iron content of its flagship 'Pilbara Blend Fines' product will be downgraded by nearly one percentage point, to 60.8 per cent; BHP had previously reduced the iron content of two iron ore products in 2024. Fortescue CEO Dino Otranto says the trend underlines the need for Australia to invest in more domestic refining, in order to produce higher-grade iron ore. Otranto has indicated that Fortescue is on track to finish construction of a green iron plant at its Christmas Creek iron ore hub and produce commercial quantities of green iron by the end of 2025. (Roy Morgan Summary)

News

Beware the rally in iron ore above $US100, it might not last

The iron ore price has peaked at more than $US101 per tonne in Singapore trading on Wednesday, which is its highest level in about six weeks. Factors such as the easing of trade tensions between the US and China have bolstered the price of the steel input, although market watchers say the rebound is unlikely to be sustained. Headwinds include steel production cutbacks in China and a looming increase in global iron ore supply as new projects in Africa start to commence shipments. (RMS)

News

Core Lithium plan to revive mothballed Finniss

Perth-based Core Lithium has advised that it may resume operations at its Finniss mine in the Northern Territory. The mine was placed in 'care and maintenance' mode in 2024, in response to a sharp downturn in the price of lithium. Core hopes a plan to significantly reduce mining and processing costs at Finniss, while also boosting productivity, will enable the mine to reopen. CEO Paul Brown says the quality of the Finniss deposit and its proximity to the Port of Darwin gives it an advantage over rival lithium mines in Western Australia. (RMS)

News

Australian Mining News

WA Mining Conference and Exhibition: Scheduled for October 8–9, 2025, in Perth, this event will focus on critical minerals, mine waste management, and innovative technologies shaping the industry’s future. It aims to be a key platform for networking and industry insights.

Global Resources Innovation Expo (GRX25): Set for May 20–22, 2025, in Brisbane, GRX25 will feature industry leaders like Owen Hegarty, discussing transformation and sustainability in mining.

Carbine Resources: The company secured a 21-year mining lease for its Muchea West silica sand project in Western Australia, marking a significant milestone.

Federal Government Cabinet: Following the re-election of Prime Minister Anthony Albanese, the new cabinet has been welcomed by mining bodies. The government is pushing the Critical Minerals Production Tax Incentive (10% refundable tax offset for processing 31 critical minerals) and a Hydrogen Production Tax Incentive ($2/kg for renewable hydrogen).

Prospect Awards 2025: Nominations are open for the Australian Mining Prospect Awards, recognizing excellence in safety, occupational health, and industry leadership.

Legacy Minerals: The company is advancing the Nico Young nickel-cobalt project in New South Wales, leveraging prior work by Jervois Global to reduce costs and accelerate development.

Rio Tinto’s Winu Project: Rio Tinto and Sumitomo Metal Mining signed final joint venture agreements for the Winu copper-gold project in Western Australia’s Great Sandy Desert.

Sibanye-Stillwater: The company reported a 92% increase in zinc production (25,000 tonnes) at its Century zinc retreatment operation in Queensland for the March 2025 quarter, with a feasibility study for the Mt Lyell copper mine in Tasmania due by late 2025.

Tivan’s Speewah Fluorite Project: Tivan formed a joint venture with Sumitomo Corporation, supported by a $5.3 million investment and government funding, to develop Australia’s first fluorite operation in Western Australia.

Hillgrove Resources: The Kanmantoo copper mine in South Australia produced 811 tonnes of copper in April, with annual guidance set at 12,000–14,000 tonnes for 2025.

Critical Minerals and Sustainability: Australia’s mining sector is poised to lead in the global energy transition, with growing demand for critical minerals and a focus on innovation and sustainable practices.

Queensland Mining Coroner: Wayne Pennell was appointed Queensland’s first mining and resources coroner to investigate fatalities and address a backlog of inquests, enhancing safety accountability.

Social Media Sentiment: Posts on X highlight ongoing exploration (e.g., Verity Resources’ Monument Gold Project) and acquisitions (e.g., Terra Metals’ Dante Project expansion), reflecting active industry momentum. However, a 119% mining rate hike by a Goldfields council has sparked concern among local explorers. (Grok)

News

Pop Culture/Entertainment

Media Movies

Network (1976) - Directed by Sidney Lumet, this satirical drama follows a TV network exploiting a deranged anchor’s rants for profit, highlighting media sensationalism. Stars Faye Dunaway and Peter Finch.

Nightcrawler (2014) - A thriller by Dan Gilroy about a drifter (Jake Gyllenhaal) who becomes a freelance crime journalist, blurring ethical lines for fame. It’s a sharp critique of modern media’s vulture-like tendencies.

Zodiac (2007) - Directed by David Fincher, this film chronicles a cartoonist-turned-detective’s obsession with the Zodiac Killer, exploring media’s role in public fear and fascination.

Citizen Kane (1941) - Orson Welles’ classic traces the life of a newspaper magnate, loosely based on William Randolph Hearst, examining media power and personal ambition.

Sweet Smell of Success (1957) - A biting satire about a ruthless press agent and a powerful columnist, showcasing media manipulation with sharp dialogue.

News

Gold: Movie

Gold (2016) is a crime drama inspired by the 1990s Bre-X mining scandal. Matthew McConaughey stars as Kenny Wells, a prospector who partners with geologist Michael Acosta (Édgar Ramírez) to find gold in Indonesia. After striking it rich, their success unravels amid fraud and betrayal. Directed by Stephen Gaghan, the film explores greed and ambition but received mixed reviews for its uneven tone and pacing. It grossed $14.8 million against a $20 million budget. Available on platforms like Hulu or Amazon Prime (check current listings). (Grok)

News/Profile

Gold (1974)

Gold (1974) is a British thriller directed by Peter R. Hunt, based on Wilbur Smith's novel Gold Mine. Set in South Africa, it follows Rod Slater (Roger Moore), a mining engineer, who uncovers a conspiracy to flood a gold mine to manipulate global gold prices. The plot involves corporate greed, sabotage, and high-stakes action, with Slater racing to stop the scheme.

Cast: Roger Moore, Susannah York, Ray Milland, Bradford Dillman.

Key Details: 120 min, rated PG, released August 1974 (UK). Filmed on location in Johannesburg, featuring intense mining scenes.

Reception: Mixed reviews; praised for action and Moore’s charisma, criticized for pacing and dated elements. IMDb rating: 5.7/10.

Availability: Limited streaming; available for rent/purchase on platforms like Amazon or on DVD.

News

Bitcoin Movies Streaming

Money Electric: The Bitcoin Mystery (2024, HBO)

A documentary by Cullen Hoback exploring Bitcoin’s origins and the identity of Satoshi Nakamoto. It’s a thrilling investigation into Bitcoin’s rise and its potential impact on global finance.

Streaming: Available on HBO’s streaming platform, Max. Check JustWatch for additional services or free options like Apple TV+ trials.

Bitconned (2024, Netflix) A true-crime documentary about three individuals who scammed millions in the unregulated crypto market to fund lavish lifestyles. Streaming: Exclusively on Netflix.

Banking on Bitcoin (2016)

A popular documentary diving into Bitcoin’s impact, its challenge to centralized banking, and its early history. It’s a great pick for understanding Bitcoin’s ethos. Streaming: Available on Amazon Prime Video (free for subscribers), Fandango at Home, and for purchase/rent on Amazon, YouTube Primetime, or Apple TV.

The Rise and Rise of Bitcoin (2014)

Follows programmer Daniel Mross and early Bitcoin adopters, offering insights into Bitcoin’s volatile early days. Ideal for beginners.
Streaming: Available on Prime Video, Fandango at Home, and for purchase on iTunes or Amazon.

Bitcoin: The End of Money as We Know It (2015)

A concise documentary tracing the history of money and Bitcoin’s potential to disrupt fiat systems. Features experts like Andreas Antonopoulos.

Streaming: Available on Amazon Prime, YouTube, and Fandango at Home. Free on YouTube in some regions (e.g., Ulterior States).

Notes on Streaming with Bitcoin:

Major platforms like Netflix and HBO Max don’t directly accept Bitcoin payments. However, you can use crypto via gift cards purchased from platforms like Bitrefill, Coinsbee, or eGifter, which offer cards for services like Amazon, Fandango, or Rakuten, usable for streaming or movie tickets.

For example, Bitrefill sells Showtime or Rakuten gift cards (for US, Spain, Portugal, Italy) payable with Bitcoin, Ethereum, or Dogecoin.

Crypto debit cards from providers like http://Crypto.com or Coinbase can also convert Bitcoin to fiat for subscriptions or purchases at non-crypto-accepting platforms.

Additional Tips:

Check platforms like JustWatch or IMDb for real-time streaming availability, as services change frequently.

Some older documentaries, like Ulterior States (2014), are freely available on YouTube, offering ideological perspectives on Bitcoin’s early days.

Be cautious with free streaming sites; some, like Openload or Streamango, have been linked to crypto-jacking schemes that mine Monero using your device’s CPU. (Grok)

Cryptos Today: (Near Live)

May 13, 2025
Sydney, Australia

Bitcoin $102,452.96 USD -1.57%
ETH $2,473.59 USD -1.39%
Tether $0.9993 USD -0.10%
XRP $2.53 USD +7.21%
BNB $662.27 USD +1.78%
Solana $172.50 USD -0.12%
USD Coin $0.9993 USD -0.07%
Dogecoin $0.2295 USD -1.04%
Cardano $0.8162 USD +0.72%
TRON $0.2732 USD +3.10%
Wrapped Bitcoin $102,406.50 USD -1.66%

News

Cryptocurrency News

Bitcoin Price Surge: Bitcoin has surpassed $100,000, briefly touching $105,000, driven by optimism around global trade deals, particularly U.S.-U.K. agreements and ongoing U.S.-China talks. Analysts warn of a potential short-term sell-off ahead of the May 13 CPI print, with BlackRock noting quantum computing as a risk for Bitcoin ETFs.

Ethereum Rally: Ethereum (ETH) has surged over 44% in three days, reaching $2,600, fueled by the Pectra network upgrade and declining Bitcoin dominance. Analysts speculate ETH could hit $10,000 or even $12,000 in 2025 due to institutional adoption, DeFi growth, and a high ETH burn rate.

Altcoin Momentum: Altcoins like Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) are rallying, with DOGE up 27% and ETH leading with a 32% weekly gain. Bitcoin’s dominance has dropped to 63.89%, signaling a potential altcoin season.

Meta’s Crypto Plans: Leaked reports suggest Meta is exploring cryptocurrency support for its 3 billion users, potentially integrating stablecoins for creator payments, which could boost market sentiment.

Regulatory Developments: SEC Chairman Paul Atkins is prioritizing a rational crypto regulatory framework, with XRP noted as the only regulated cryptocurrency in the U.S. However, a bipartisan stablecoin bill (GENIUS Act) stalled due to concerns over Trump’s personal crypto ventures, raising conflict-of-interest issues.

Market Inflows: Crypto investment products saw $882 million in inflows last week, with U.S. crypto ETFs hitting a record $62.9 billion in cumulative net inflows since January 2024. BlackRock’s Bitcoin ETF recorded a 19th consecutive day of inflows on May 9.

Other News: Coinbase acquired Deribit for $2.9 billion, expanding its derivatives offerings. New Hampshire passed a law allowing state investment in cryptocurrencies. France’s rumored crypto ban was mentioned on X but lacks credible confirmation and should be treated as speculative. (Grok)

Blockchain News

Meta’s Blockchain Push: Meta is reportedly exploring a blockchain-based payment system, potentially offering low-cost digital transfers. This follows their unsuccessful Diem project, signaling renewed interest in blockchain integration.

Crypto in Education: Animoca Brands’ Yat Siu highlights blockchain’s potential in education, particularly through DeFi student loan financing. Ripple’s $25 million donation to a crypto education fund underscores growing academic influence.

XRP and Interoperability: XRP is expanding into multichain interoperability, connecting with Cosmos and EVM sidechains. With 200+ financial partners, it aims to bridge traditional finance and crypto ecosystems.

Avalanche and Web3 Gaming: Avalanche’s John Nahas emphasizes blockchain as seamless backend infrastructure for gaming, citing examples like Gunzilla Games’ “Off the Grid,” which leverages blockchain for user ownership.

Policy Shifts: The Trump administration is driving a pro-crypto agenda, with plans to integrate blockchain into financial systems. Bank regulators are exploring blockchain-based payment systems, a stark contrast to previous skepticism.

Robinhood’s Blockchain Platform: Robinhood is developing a blockchain-based platform for trading tokenized US securities in Europe, potentially partnering with Arbitrum or Solana.

Ethereum’s Pectra Upgrade: Ethereum’s latest upgrade introduces features like smart wallets and lower fees but has raised concerns about a new attack vector that could allow hackers to drain funds.

Other Developments: Brave is integrating Cardano into its browser wallet, and MBS Global plans a $9 billion blockchain financial hub in the Maldives.

For real-time updates, platforms like Cointelegraph or CryptoSlate on X are active sources,

News

Crypto market slows down, nearing a top

Market Picture

The crypto market slowed down but continued to move upwards over the weekend, reaching $3.35 trillion. For the past few days, it has been trading in the region of the highs since early February. Ethereum and Dogecoin have been the stars of this movement, adding around 40% in seven days, although the former's contribution is certainly more significant.

The crypto market's sentiment is consolidating in the greed zone, leaving the corresponding index at 70 for the last three days. This is a good basis for continued gains: not too hot to take profits and not too cold to leave traders on the sidelines.

Bitcoin rallied above $105.5k on Monday morning, entering the area of highs where it has twice failed to hold over the past six months. The impressive corrective pullback from late January to early April, in our opinion, created substantial margin for a new wave of growth. Therefore, we will not be surprised if, along with the positive dynamics of stocks, BTCUSD will move to the renewal of historical highs already this week.

News Background

On the weekly bitcoin chart, after the upward breakout of the ‘bull flag’ pattern, a further rise to $182,000 is possible, given the growth before the downward consolidation. Cointelegraph presented such a scenario.

Significant inflows into spot bitcoin ETFS in the US continued for the third week in a row. According to SoSoValue data, weekly net inflows into spot BTC-ETFS totalled $921 million, bringing the total to $41.16 billion since bitcoin-ETFS were approved in January 2024.
Inflows into spot Ethereum-ETFS in the US broke after two weeks, recording a small net outflow of $38.2 million to $2.47 billion since last July.

Cryptoquant noted that the strategy firm's pace of bitcoin purchases exceeds the rate at which miners are issuing new coins. The firm's holdings alone imply an annual deflation of the asset of 2.23%.

Public mining companies sold about 70% of mined bitcoins in April against a falling mining profitability, TheMinerMag calculated. Since March, miners seemed to be moving away from the HOLDing strategy that had prevailed last year.

Over the years, Coinbase has considered investing a significant portion of its savings in bitcoin, following the example of Strategy, but abandoned the idea because of the risks, said Brian Armstrong, head of the exchange. (FxPro)

News

Markets

ASX futures are pointing up 97 points/1.2% to 8364

AUD -0.0% to US63.70¢

Bitcoin -1.6% to $US102,525
Wall St:
Dow +2.8% S&P +3.3% Nasdaq +4.4%
VIX -3.51 to 16.03
Gold -0.03% to $US3235.57 an ounce
Brent oil +1.8% to $US65.03 a barrel
Iron ore +3.2% to $US100.00 a ton
10-year yield: US 4.47% Australia 4.36%

News

May 12, 2025

Investors ramp up crypto spree as bitcoin nears record high

Australian investors have pounced on the plunge in bitcoin earlier this year and have been ramping up exposure to the cryptocurrency in a bold bet that could pay off handsomely, with analysts tipping prices to hit $US200,000 this year.

The world’s largest digital asset crossed the key $US100,000 level last week for the first time since February. Bitcoin extended that rally on Monday to trade near $US105,000, just shy of its record of around $US109,000 on January 20 – the day US President Donald Trump was inaugurated.

It represents a stunning turnaround for the cryptocurrency, which traded as low as $US74,000 in early April amid Trump’s escalating trade war. But sentiment started to shift as traders hunted for alternatives to US assets as they questioned the stability of the world’s largest economy.

“Bitcoin appeared to benefit from capital rotation associated with ‘sell-America’ positioning and growing scepticism around US monetary dominance,” Global X investment analyst Justin Lin told The Australian Financial Review after upgrading his year-end price target to $US200,000.

The trend was reinforced by a resurgence in global bitcoin exchange-traded funds in April, with investors adding $US2.9 billion ($4.5 billion) to those vehicles. That marked a sharp reversal from February and March, when more than $US5 billion in total was pulled from the space.

A further $US1.58 billion of flows moved into global bitcoin ETFs in the first eight days of May, according to US-listed crypto exchange Coinbase.

In Australia, local ETFs have attracted $148 million in inflows so far this year – more than double compared to the same period in 2024.

And unlike the US, Australian investors have been consistent buyers throughout this year. Local bitcoin ETFs experienced $6.9 million of inflows in March and $20.5 million in new flows in April, according to Global X.

Trump gala

The second-largest digital token, ethereum, has also been swept up in last week’s rally, surging as much as 33 per cent in its steepest weekly gain since 2021, when low interest rates fuelled the pandemic-era crypto boom.

While ether has benefited from easing global trade tensions, the token was boosted by a network upgrade designed to reduce fees, improve network efficiency and enable more complex wallet functionalities – moves seen as necessary to fend off competition from faster-growing rivals like solana.

Trump has become an advocate of digital assets during his second term by rolling back legal actions against many companies in the sector, establishing a bitcoin reserve, easing regulation and even launching his own memecoin.

The president is due to host a private gala dinner on May 22 with the top 220 holders of the Trump memecoin, an event that could mark a “turning point” for the broader cryptocurrency market, according to Global X’s Lin.

“[The event’s] symbolic value is significant,” he said. “It could serve as a launchpad for broader crypto-friendly rhetoric and possibly renewed regulatory commitments. Any such pivot would inject momentum into the sector.” (AFR) *Full article and coverage via subscription to The Australian Financial Review.

News

Cryptocurrency Movies

Here’s a concise rundown of notable cryptocurrency-themed movies and documentaries, blending education and entertainment, based on their relevance to blockchain, Bitcoin, and digital currencies:

Documentaries

The Rise and Rise of Bitcoin (2014)
Follows early Bitcoin adopters like Daniel Mross, exploring Bitcoin’s origins, volatility, and potential to disrupt finance. Insightful for understanding the early crypto community. Available on various streaming platforms.

Banking on Bitcoin (2016)
Chronicles Bitcoin’s ideological roots and its impact on financial systems, featuring interviews with key crypto figures. Great for grasping Bitcoin’s societal implications. Available on Netflix and other platforms.

Trust Machine: The Story of Blockchain (2018)
Explores blockchain’s broader applications beyond cryptocurrency, demystifying the technology’s potential. Funded and distributed via blockchain, it’s a unique watch. Available on Prime Video.

Bitcoin: The End of Money as We Know It (2015)
A 60-minute dive into the history of money and Bitcoin’s role in challenging centralized finance. Features experts like Vitalik Buterin. Streamable on platforms like YouTube.

Trust No One: The Hunt for the Crypto King (2022)
A Netflix documentary investigating the mysterious death of QuadrigaCX CEO Gerry Cotten and the $250 million in missing investor funds. Gripping for scam enthusiasts.

Biggest Heist Ever (2025)
A Netflix documentary detailing the 2016 Bitfinex hack, where 120,000 Bitcoin (worth over $4 billion) were stolen. Focuses on Heather Morgan (aka Razzlekhan) and Ilya Lichtenstein. A fresh take on crypto crime.

Feature Films

Crypto (2019)
A crime thriller starring Beau Knapp, Luke Hemsworth, and Kurt Russell. Follows a Wall Street banker uncovering a cryptocurrency-fueled money laundering scheme in his hometown. Critically mixed but engaging for drama fans. Available on Google Play and Prime Video.

Silk Road (2021)
A crime drama about Ross Ulbricht and the dark web marketplace Silk Road, where Bitcoin was the primary currency. Explores the legal and ethical complexities of crypto in illicit markets. Available on streaming services like Fandango.

Dope (2015)
A coming-of-age comedy-drama where high schoolers use Bitcoin for a dark web drug transaction. Not crypto-centric but an early mainstream nod to Bitcoin’s cultural presence. Streamable on Netflix.

Bitcoin Heist (2016)
A Vietnamese action-comedy about undercover agents chasing a crypto hacker, “The Ghost.” Blends suspense and humor, offering a lighthearted take on crypto crime. Available on Prime Video.

Why Watch These?
These films range from educational documentaries to thrilling fictional tales, reflecting crypto’s rise, scandals, and societal impact. Documentaries like Banking on Bitcoin and Trust Machine are ideal for learning about blockchain’s mechanics and potential, while thrillers like Crypto and Silk Road dramatize the risks and allure of digital currencies. For 2025, Biggest Heist Ever is a must-watch for its fresh perspective on a massive crypto theft.

Where to Watch

Most are available on Netflix, Prime Video, Google Play, or Fandango. Check specific platforms for availability in your region. (Grok)

News

Bitcoin Movies On Netflix

Netflix currently offers a few movies and documentaries focused on Bitcoin and cryptocurrency. Here are the most notable ones available as of my last update:

Bitconned (2024) - A true-crime documentary about three individuals who exploited the cryptocurrency market, scamming millions from investors to fund lavish lifestyles. It dives into the darker side of crypto with a focus on the Centra Tech scam. [IMDb: 6.5]

Trust No One: The Hunt for the Crypto King (2022) - This documentary explores the mysterious death of Gerald Cotten, founder of the QuadrigaCX exchange, and the $250 million in investor funds that vanished. It follows investors turned amateur detectives unraveling the scandal. [IMDb: 6.3]

Hotel Bitcoin (2024) - A Spanish comedy film where four friends discover a fortune in lost bitcoins, sparking a chaotic adventure to protect their windfall and friendships. It’s a lighter, fictional take on Bitcoin’s allure.

Biggest Heist Ever (2024) - A documentary covering the Bitfinex hack, where a couple, dubbed the "Bitcoin Bonnie and Clyde," allegedly laundered nearly 120,000 bitcoins. It’s a deep dive into one of crypto’s most infamous crimes.

Crypto Boy (2023) - A Dutch drama about a young man drawn into the world of cryptocurrency after a fallout with his father, exploring themes of ambition and deception. It’s more character-driven than educational.

Notes:

Availability may vary by region, so check Netflix in your area.

Some older Bitcoin documentaries, like Banking on Bitcoin or The Rise and Rise of Bitcoin, are not currently on Netflix but may be available on other platforms like Amazon Prime or YouTube.

For a broader list, posts on X also mention Bitcoin: The End of Money as We Know It and The Blockchain and Us, but these are not confirmed on Netflix at this time. (Grok)

News

Memecoins Today:

Memecoins are seeing significant activity today, May 13, 2025, with several coins rallying and ongoing controversies shaping market sentiment. Here's a concise overview based on recent developments:

Market Performance:

Dogwifhat (WIF), Book of Meme (BOME), and FLOKI are extending double-digit rallies, driven by a risk-on sentiment in crypto markets following US-China tariff reductions. Technical indicators suggest potential for further gains.

Moo Deng, a Solana-based memecoin, surged 153% in the past 24 hours, fueled by institutional demand for SOL and retail interest after Bitcoin’s rally above $103,000.

FLOKI is highlighted on X as a top performer, with posts suggesting it could lead the memecoin rally alongside DOGE, SHIB, and PEPE.

Political and Controversial Developments:

Trump’s $TRUMP Memecoin: The coin remains in the spotlight due to a May 22 dinner for top holders at Trump’s Virginia golf club, sparking ethical concerns and political backlash. The coin surged over 50% after the announcement, reaching a $2.7 billion market value, though 764,000 investors have lost money compared to 58 wallets profiting significantly.

Melania’s $MELANIA Memecoin: Launched January 19, it saw sniper traders earn $99.6 million by buying minutes before its public announcement. The team recently sold $1.5 million in tokens, amid a weakening memecoin market.

Legislative Pushback: Senate Democrats blocked stablecoin legislation due to controversies surrounding Trump’s crypto ventures. Proposed bills, like the End Crypto Corruption Act, aim to ban presidents and officials from issuing digital assets to curb potential conflicts of interest.

Market Sentiment:
X posts reflect active interest in memecoins, with users seeking recommendations and shilling coins like FLOKI and letsBONK. However, some posts highlight the speculative nature, describing pump-and-dump cycles.

Discussions on memecoins hit a year-to-date high, shifting focus from Bitcoin and layer-1 protocols, though some argue the memecoin frenzy is cooling as stablecoins gain traction on Solana.

Broader Context:

Memecoins face criticism for lacking intrinsic value, with some viewing them as celebrity-driven schemes. However, advocates suggest AI agents could drive a “memecoin renaissance” by adding utility.

The $TRUMP token’s performance has been lackluster compared to its peak, with onchain activity spiking after the dinner announcement but still down 79% from its all-time high.

Critical Note: While memecoins are rallying, their volatility and speculative nature carry significant risks. The political ties to certain coins, especially $TRUMP, raise ethical and legal questions, potentially influencing market stability. Always verify information, as X posts can contain unverified claims, and memecoin investments are highly speculative. (Grok)

Bull Market: Def

"Bull market" describes a financial market where prices are rising or are expected to rise. It commonly refers to the stock market but can be applied to anything that is traded, such as bonds, real estate, currencies, and commodities.

Markets and Cryptos

May 10, 2025
Sydney, Australia

Markets:

ASX futures up 12 points/0.2% to 8261
AUD +0.1% at US64.09¢
Bitcoin +1.8% to $US103,152
Dow -0.3%
S&P -0.1%
Nasdaq -0.00%
Gold +0.6% to $US3326.57 an ounce
Oil +1.7% at $US63.92 a barrel
Iron ore +0.5% at $US97.00 a tonne

Cryptos Today: (Near Live)

Bitcoin. $102,887.02 USD. - 0.18%
Ethereum. $2,331.30. +6.50%
Tether $1 USD -0.10%
XRP. $2.35. +1.83. +2.4%
BNB. $638.149. +2.35%
Solana. $172.18. +6.56%
USD Coin. $1 USD -0.17%
Dogecoin: $0.2045 USD +5.52%
TRON. $0.2562 USD +3.06%
Cardano $0.7801 USD +2.20%
Wrapped Bitcoin $102,930.51 -0.28%

Markets and Cryptos

May 10, 2025
Sydney, Australia

Markets:

Cryptos Today: (Near Live)

News

Crypto News

Bitcoin Surges Past $100,000: Bitcoin reclaimed the $100,000 mark for the first time since February, driven by optimism around a U.S.-UK trade deal announced by President Trump and UK Prime Minister Keir Starmer. The deal, which includes a 10% U.S. tariff on UK goods and reduced UK tariffs, has fueled a broader market rally. Bitcoin was trading at $102,700 late Thursday, with analysts noting potential support at $100,000 and resistance near $107,000.

Other Cryptocurrencies Rally: Ether surged over 14% to $2,050.46, its highest since late March, while Solana and Dogecoin gained 10% and 12%, respectively. The total crypto market cap rose 2.5% to $3.09 trillion.

Stablecoin Bill Blocked: The GENIUS Act of 2025, aimed at regulating stablecoins, was stalled in the U.S. Senate on May 8 by Democratic lawmakers, citing concerns over President Trump’s ties to the crypto industry, including his family’s World Liberty Financial stablecoin venture.

German Seizure of Crypto Assets: German authorities seized €34 million ($38 million) in cryptocurrencies, including Bitcoin, Ether, Litecoin, and Dash, from the eXch platform, linked to laundering funds from Bybit’s $1.4 billion hack in February 2025.

SEC and Ripple Settlement: The SEC and Ripple filed a joint letter on May 8 to dissolve an August 2024 injunction against Ripple and return $75 million of $125 million in penalties held in escrow.

Trump’s Crypto Ventures: World Liberty Financial, a Trump-affiliated firm, unveiled a stablecoin and secured a $2 billion deposit deal with an Emirati fund. However, Democratic senators, including Elizabeth Warren, are pushing back against crypto legislation, alleging corruption tied to Trump’s crypto ventures.

Bitcoin Investment Moves: Strategy (formerly MicroStrategy) announced a $180 million Bitcoin purchase, adding 1,895 BTC, while a new whale withdrew $50 million in Bitcoin from Binance.

Ethereum Upgrades: Ethereum’s Pectra protocol upgrade went live on May 7, boosting investor interest. Analysts predict ETH could hit $5,925 in 2025, with long-term forecasts up to $15,575 by 2030.

Market Sentiment: The crypto market is in a transitional phase, with Bitcoin down 14% from its January 2025 high of $109,079. Analysts like Standard Chartered’s Geoff Kendrick forecast Bitcoin reaching $120,000 by Q2 2025 and $200,000 by year-end. (Grok)

News

A sharp crypto market awakening

Market Picture

TThe crypto market has added about 5.8% to its capitalisation over the past 24 hours, bringing it to $3.24 trillion. This is roughly the area where the market has been consolidating for most of February. A pause halfway to the area of historical highs above 3.50 looks like a logical respite. Back in November, the market surged without major pauses—but this time, the momentum appears more measured, with less of the earlier excitement.

The crypto market sentiment index reached 73, which is only a couple of steps away from extreme greed and is the highest since late January. Often, this is a working sentiment for continued growth.

Bitcoin has been reaching levels above 104000 this morning, adding an impressive 5% in the last 24 hours and 33% in 30 days. At current highs, all eyes are on how soon it will reach the all-time highs, which are less than 6% away, and whether or not it can overcome them outright. While similar rallies have broken records in the past, we still expect some consolidation near the highs before any decisive move higher.

The rocket of the last few days has certainly been Ethereum, which soared 23% in the last 24 hours, strengthening twice as fast as Bitcoin over the month. The technique worked perfectly. ETHUSD stomped around the 50-day moving average for a long time and rose in value by a third in less than two days to $2380. The rise to 2700 looks like an ‘easy part’ of the growth. Further upside will already have to be fought for.

News Background

On May 8, bitcoin's realised capitalisation reached a record $890.74 billion, which could indicate that BTC is poised for significant growth, CryptoQuant noted. The metric is the aggregate value of all coins in circulation based on the quotes at which they were last transferred.

Ethereum shows the best weekly performance in the top 20 cryptocurrencies. Nansen notes the accumulation of ‘smart money’ by institutions like Wintermute.

U.S. banks can perform crypto transactions on customer requests, provide custodial services through third parties, and generate tax returns on digital assets. This is stated in a clarification from the US Office of the Comptroller of the Currency (OCC).

Payments company Stripe has launched a product called Stablecoin Financial Accounts. It will allow businesses in 101 countries to hold balances in dollar-denominated Stablecoins and receive and send fiat and cryptocurrencies. (FxPro)

Best Quotes Of The Day

An investment in knowledge pays the best interest." — Benjamin Franklin

"Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows." — Jim Rogers

"Be fearful when others are greedy and greedy only when others are fearful." — Warren Buffett

Markets

May 8, 2025

ASX futures down 4 points/0.1% to 8176
AUD -1.0% at US64.33¢
Bitcoin +1.3% to $US96,173
Dow +0.9%
S&P -0.2%
Nasdaq +0.4%
Gold -1.8% to $US3371.13 an ounce
Oil -1.9% at $US61.00 a barrel
Iron ore +0.8% at $US98.25 a ton

Crypto and Markets Today

Cryptos Today: (Live/Near Live)

Bitcoin. $98,598.45 +2.10%
Ethereum. $1,838.50. +0.65%
Tether $1.00 USD -0.03%
XRP. $2.15. -0.04%
BNB. $606.22. -0.441%
Solana. $149.72. +2%
USD Coin. $.9997USD -0.03%
Dogecoin: $0.1766 USD +2.74%
Cardano $0.6901 USD -1.1896%
TRON. $0.2477 USD -0.03%

News

Crypto market tests range ceiling

Market Picture

Market capitalisation rose 1.7% in the last 24 hours to $2.98 trillion, approaching the upper end of the consolidation range where the market has been hovering for almost two weeks. The previous consolidation in April took about the same amount of time before the last move up. Rest after the rise may favour further growth.

Greed characterised market sentiment on Tuesday, with the corresponding index rising to 67, repeating the highs of May 2.

Bitcoin rose significantly on reports of events in India and Pakistan, briefly surpassing the $97.5K level. This growth momentum has not yet found support in other assets - gold is getting cheaper, and the equity index is mostly down. Perhaps the assault on local highs will continue soon. A consolidation above $98K may trigger a growth scenario up to $112K.

News Background

Riot Platforms, the fourth-largest bitcoin mining company by bitcoin reserves, mined 463 BTC in April and sold 475 BTC for $38.8 million. The firm sold coins from the reserve for the first time in about a year.

BlackRock's IBIT is the defining contribution to the ETF's positive performance. According to Lookonchain, BlackRock additionally purchased 5,613 BTC (over $529 million). The company now holds 620,252 BTC (worth over $58bn).

Bitwise investment director Matt Hougan said the crypto market could face difficulties this summer if the US Congress does not continue to work on profile bills. He noted a bill to regulate stablecoins, the passage of which has been delayed. (FxPro)

News

Crypto News

Price Movements: Bitcoin rose 3.2% to around $97,714, driven by optimism over potential de-escalation in US-China trade tensions, boosting demand for risk assets like cryptocurrencies. Ether also climbed 4.2%. However, Bitcoin recently pulled back from a January 2025 high of $107,000 amid tariff-related volatility.

Strategic Bitcoin Reserves: New Hampshire became the first US state to establish a Bitcoin and Digital Asset Reserve Fund, allowing up to 5% of state funds to be invested in Bitcoin or assets with a $500B+ market cap. Meanwhile, efforts in states like Florida and Arizona to create similar reserves have stalled, with bills withdrawn or vetoed. President Trump signed an executive order to establish a US strategic Bitcoin reserve, though skepticism persists, with investor Kevin O’Leary calling it unlikely.

Corporate Adoption: Strive Enterprises, co-founded by Vivek Ramaswamy, is merging with Asset Entities Inc. to form a Bitcoin treasury company, following Michael Saylor’s strategy. Saylor’s company, Strategy, recently acquired 1,895 BTC for $180.3 million, holding a total of 555,450 BTC.

Price Predictions: Binance founder Changpeng Zhao predicted Bitcoin could hit $500,000 or even $1 million in this bull cycle, potentially reaching a $19.8 trillion market cap. Other forecasts include $167,598 by year-end from Coinpedia and $250,000 by some Wall Street experts, though former Maryland Governor Martin O’Malley warned Bitcoin might be a Ponzi scheme.

Political Tensions: US Democrats, led by Maxine Waters, are scrutinizing Trump’s crypto ventures, blocking a digital asset bill hearing and launching inquiries into potential corruption tied to his cryptocurrency projects, including the $TRUMP meme coin.

Market Sentiment: Bitcoin’s resilience is supported by institutional interest and untapped issuance capacity among Bitcoin-holding companies, potentially driving significant price gains. However, macroeconomic factors and Federal Reserve rate decisions are creating volatility, with traders eyeing Fed Chair Jerome Powell’s statements for clues on future rate cuts.

Other Developments: The IMF now classifies Bitcoin alongside traditional reserves like gold, with governments holding an estimated 471,000 BTC worth $16.3 billion. Apple’s relaxation of App Store restrictions on crypto could spur adoption, while Trump’s pro-crypto policies, including promoting mining, are raising concerns about noise pollution from mining facilities. (Grok)

News

Markets:

Australian Dollar: $0.6430 USD (down $0.0060 USD)
Iron Ore June Spot Price (SGX): $98.25 USD (up $0.55 USD)
Oil (WTI): $57.95 USD (down $1.05 USD)
Gold: $3,364.45 USD (down $67.73 USD)
Copper (CME): $4.6200 USD (down $0.1350 USD)
Bitcoin: $97,096.63 USD (up 2.72% in last 24 hours)
Dow Jones: 41,113.97 (up 284.97 points)

News

Gold

Gold prices fell over 1% on Wednesday, May 7, 2025, pressured by a stronger U.S. dollar and easing U.S.-China trade tensions. Federal Reserve Chair Jerome Powell’s cautious remarks on the U.S. economy also disappointed traders, contributing to the decline. Spot gold dropped to around $3,350 per ounce after hitting a two-week high of $3,396.43 earlier in the week, driven by post-holiday buying in China and tariff concerns. Analysts suggest gold may stabilize near $3,200, with support levels at $3,351 and $3,304. Investors are focused on the Federal Reserve’s recent policy meeting outcomes, with no immediate rate cuts expected, potentially capping gold’s upside. Geopolitical tensions and safe-haven demand could support prices, but trade optimism may limit gains. Forecasts from JPMorgan and TD predict gold could reach $4,000 by mid-2026, averaging $3,675 by year-end 2025. (Grok)

Best Quotes Of The Day

Media

"The TV business is uglier than most things. It is normally perceived as some kind of cruel and shallow money trench through the heart of the journalism industry, a long plastic hallway where thieves and pimps run free and good men die like dogs, for no good reason." Hunter S. Thompson

Markets and Cryptos

May 7, 2025
Sydney, Australia

Markets

ASX futures down 23 points/0.3% to 8146

AUD +0.3% to US64.87¢

Bitcoin flat at $US94,534

Wall St:
Dow -1.0%
S&P -0.7%
Nasdaq -0.9%
VIX +1.18 to 24.82
Gold +2.4% to $US3414.77 an ounce
Oil +3.4% to $US62.26 a barrel
Iron ore +1.2% to $US97.70 a tonne
10-year yield: US 4.31% Australia 4.33%

News

Bitcoin. $95,096. 2.41%
Ethereum. $1,789.65. 1.60%
Tether. $1.99. +0.16%
XRP. $2.14. -0.46%
BNB. $599.88. 0.05%
Solana. $144.79. 1.351%

News

Crypto News Today

Bitcoin Price Outlook: Binance founder Changpeng "CZ" Zhao predicts Bitcoin could reach $500,000 to $1 million this market cycle, citing institutional adoption, government accumulation, and pro-crypto U.S. policies. Bitcoin is currently trading around $94,376, with some analysts forecasting a 2025 high of ~$168,000.

Florida Bitcoin Reserve Bills Withdrawn: Florida’s House Bill 487 and Senate Bill 550, which aimed to establish a state Bitcoin reserve, were withdrawn from consideration on May 3, marking a setback for state-level crypto initiatives.

Trump Family Crypto Ventures: The Trump-affiliated World Liberty Financial (WLFI) is gaining traction. Its stablecoin, USD1, is being used for a $2 billion investment by Abu Dhabi’s MGX into Binance. The Trump family’s crypto activities, including a $TRUMP meme coin, have sparked Senate backlash, with Democrats raising concerns over conflicts of interest and pushing for stricter stablecoin regulations.

BNB ETF Filing: VanEck has filed for the first U.S. BNB exchange-traded fund, which could stake BNB tokens, signaling growing institutional interest in Binance’s native token.

Crypto Market Trends: Bitcoin remains steady at ~$93,831, while Ethereum (ETH) and XRP are seeing slight declines. Analysts suggest ETH may outperform XRP in May due to stronger technical setups. The broader crypto market cap dipped slightly, with mixed altcoin performance.

Regulatory and Institutional Moves: Morgan Stanley plans to offer crypto trading on its E*Trade platform by 2026. U.S. banks no longer need Federal Reserve notification for crypto activities, a significant regulatory win.

Crypto-Related Crime: French police rescued the father of a crypto entrepreneur kidnapped for ransom, highlighting a rise in crypto-related abductions in France.

News

Blockchain News Today

Ethereum Pectra Upgrade: Ethereum’s mainnet is undergoing the Pectra upgrade today, marking its most significant code change since the Merge in 2022. This upgrade includes 11 Ethereum Improvement Proposals (EIPs) aimed at enhancing user-friendliness, staking experiences, wallet features, and overall blockchain efficiency. Originally planned for 2024, the upgrade was delayed due to its complexity.

Crypto Market Trends: As of May 6, Bitcoin remains stable at around $93,831, while Ethereum and XRP have seen slight declines. Analysts are watching for potential bigger moves in 2025, with Bitcoin predicted to possibly hit $167,598.22 this year and surpass $900,000 by 2030, driven by increased adoption and whale activity.

Maldives Blockchain Hub: A $9 billion blockchain hub project in the Maldives is gaining attention as a transformative initiative for the region’s crypto ecosystem, highlighting blockchain’s growing global infrastructure.

Tether’s AI Platform: Tether’s CEO, Paolo Ardoino, has unveiled a new AI platform with crypto payment support, building on their December 2024 announcement. This move signals further integration of blockchain with AI technologies.

Regulatory Shifts: Recent U.S. policy changes allow banks to offer Bitcoin and crypto services without Federal Reserve notification, a significant win for crypto adoption. This has sparked bullish sentiment, particularly for Ethereum, which is seen as a hub for stablecoin and onchain services.

Worldcoin’s U.S. Expansion: Sam Altman’s Worldcoin is deploying biometric “orbs” in U.S. cities to streamline crypto wallet security, aiming to make transactions more user-friendly and secure. (Grok)

News

The US ran a record trade deficit in March. It will be worse in April

In March, the US trade deficit with other countries reached unprecedented levels, driven by a rush to purchase goods ahead of anticipated tariffs. This surge comes amidst the backdrop of the US President’s striking ‘America’s Liberation Day’ tariff announcement, with retaliatory tariffs following in April.

The trade deficit is an important fundamental pressure factor on the dollar, and it promises to become even stronger in April’s data. As a result, we are seeing temporary anomalies in the import numbers, which have been on a tear since December, adding over 27% to March last year.

Exports, on the other hand, are still within the trend of the last three years, adding 6.7% YoY to $278.5bn. Still, it doesn’t quite match the record-breaking $140.5 billion deficit and $419 billion in imports.

These alarming numbers are likely just a preview, with a downturn expected in the coming months—though it will probably be less dramatic. This will give the illusion that tariffs are working. However, it’s more accurate to take a long-term view, factoring in both the unusual spike in imports and the potential drop that may follow. It would not be surprising if the net effect is very controversial. (FxPro)

News

Gold News Today

Gold prices rose to a two-week high on Tuesday, May 6, 2025, driven by post-holiday buying from China and concerns over potential U.S. tariffs on pharmaceutical imports. Spot gold gained over 2%, reaching around $3,317 per ounce, supported by a weaker U.S. dollar and safe-haven demand. Investors are focused on the Federal Reserve’s policy meeting outcome on May 7, as higher interest rates typically reduce the appeal of non-yielding gold. In India, 24-carat gold prices climbed to ?95,740 per 10 grams, while silver saw a slight decline to ?96,900 per kilogram. Geopolitical tensions, including Middle East conflicts, and uncertainty over U.S.-China trade talks continue to bolster gold’s appeal.

Features

Talk up your chances - Schmooze or lose - It's who you know that counts

Putting a new spin on an old sales pitch

Whitewash whisper leaves Tingle in the ear

Meet up and share your business ideas

Search Engine: News

LinkedIn Wins Media Man 'Platform Of The Month' award

Markets and Cryptos

May 7, 2025
Sydney, Australia

Markets

ASX futures down 23 points/0.3% to 8146

AUD +0.3% to US64.87¢

Bitcoin flat at $US94,534

News

Bitcoin. $95,096. 2.41%
Ethereum. $1,789.65. 1.60%
Tether. $1.99. +0.16%
XRP. $2.14. -0.46%
BNB. $599.88. 0.05%
Solana. $144.79. 1.351%

News

Crypto News Today

BNB ETF Filing: VanEck has filed for the first U.S. BNB exchange-traded fund, which could stake BNB tokens, signaling growing institutional interest in Binance’s native token.

Crypto-Related Crime: French police rescued the father of a crypto entrepreneur kidnapped for ransom, highlighting a rise in crypto-related abductions in France. (Grok)

News

Blockchain News Today

News

The US ran a record trade deficit in March. It will be worse in April

News

Gold News Today

News: Business, Markets, Comms, World News, Headlines, Australia

May 5, 2025

Markets

Australian Dollar: $0.6444 USD (up $0.0061 USD)
Iron Ore June Spot Price (SGX): $96.00 USD (up $0.80 USD)
Oil Price (WTI): $58.29 USD (down $0.70 USD)
Gold: $3,241.82 USD (up $4.35 USD)
Copper (CME): $4.6730 USD (up $0.0415 USD)
Bitcoin: $95,720.18 USD (down 0.61%)
Dow Jones: 41,317.43 (up 564.47 points)

Markets: Update

ASX futures up 0.4%/32 points, to 8280 points

AUD +0.3% $US64.55¢
Bitcoin -0.6% to $US95,679

Wall Street:

Dow +1.4%
S&P +1.5%
Nasdaq +1.5%
VIX -1.9 to 22.68 points
Gold steady at $US3240.49 an ounce
Oil -1.4% to $US61.29 a barrel
Iron ore +1% to $US96 a tonne
10-yr yield: US 4.31% Australia 4.21%

News

'Return to office' push to go on

The Minerals Council of Australia's chairman Andrew Michelmore says the Coalition's bungled policy on public servants working from home is likely to have been one of many issues that contributed to its massive election loss. Michelmore and property developer Tim Gurner both contend that working from home is more appropriate in specific industries, rather than across the economy; the latter believes that companies that encourage staff to engage with each other in the office rather than remotely are the most likely to succeed over the next decade. (Roy Morgan Summary)

News

Media

Foxtel boss welcomes a bold new era

Foxtel CEO Patrick Delany says companies that "stand still" are unlikely to survive in Australia's current media landscape. He adds that Foxtel will have greater capacity to adapt and evolve following its acquisition by UK-based DAZN, which will in turn result in a better product for its pay-TV and streaming customers. Delany has rejected suggestions that the quality of Foxtel's coverage of Australian sports will be adversely affected by a move to cut about 100 jobs. Foxtel was previously majority-owned by News Corp, which will emerge from the deal with a six per cent stake in DAZN. (RMS)

News

Main parties focused ad spend on TV

Analyis by Australian video measurement firm Adgile shows that the nation's political parties spent more than $54m on free-to-air and broadcast video-on-demand advertising during the election campaign. Free TV Australia CEO Bridget Fair says this demonstrates that TV is still a trusted and highly effective platform for connecting with voters. Meanwhile, a total of $17m was spent on YouTube advertising across all parties. (RMS)

News

'Force big tech to pay up': Media firms

News Corp Australia's executive chairman Michael Miller has urged the re-elected federal government to overhaul the news media bargaining code. He says it is more than a year since the nation's political leaders resolved that technology platforms must renew their revenue-sharing deals with news publishers, and he contends that Labor must set a timetable for the tech giants to negotiate new deals. Nine Entertainment CEO Matt Stanton and Seven West Media CEO Jeff Howard have expressed similar views. (Roy Morgan Summary)

News

Rio Tinto weighs up rare earths market

May 2, 2025

Rio Tinto CEO Jakob Stausholm said last Thursday the mining company's board had discussed rare earths during the week, with Stausholm speaking after its AGM in Perth. He said the board would take a "serious Dlook" at the potential role that rare earths could play in Rio Tinto's portfolio, while he commented that critical minerals are often present in Rio's existing operations as a by-product. Rio Tinto chairman Dominic Barton says that expanding into critical minerals could help strengthen Rio's social licence to operate, while he noted that big mining companies like Rio Tinto are yet to establish much of a presence in the critical minerals sector. (Mining Dot Com)

News

Headlines Today

International News:

Russian President Vladimir Putin expresses hope that nuclear weapons won't be needed in Ukraine, ahead of a unilateral three-day ceasefire from May 8-10 to mark the 80th anniversary of WWII victory. Ukrainian President Volodymyr Zelenskyy doubts Russia’s commitment to the truce.

India-Pakistan tensions escalate after a terror attack in Pahalgam; India bans imports from Pakistan and suspends postal and maritime links.

An Air India flight from Delhi to Tel Aviv was diverted to Abu Dhabi due to a missile attack near Tel Aviv’s airport, with flights suspended until May 6.

Chinese President Xi Jinping to visit Russia from May 7-10 for WWII victory celebrations.

U.S. News:

Texas Governor signs the largest U.S. school voucher law, marking a conservative shift in education policy.

President Donald Trump proposes a $163 billion cut to the U.S. budget, targeting domestic spending.

Trump sparks controversy by posting an AI-generated image of himself as a pope, drawing online backlash.

Trump announces 100% tariffs on foreign films made outside the U.S., impacting international cinema.

Business & Economy:

Billionaire Warren Buffett announces he will step down as CEO of Berkshire Hathaway by the end of 2025, naming Greg Abel as successor.

State Bank of India (SBI) reduces lending rates, with Repo Linked Lending Rate down to 8.25% and External Benchmark Based Lending Rate to 8.65%, effective April 15, 2025.

Entertainment & Culture:

The Met Gala 2025 in NYC highlights Black dandyism, drawing global attention.

Columbia University to announce the 2025 Pulitzer Prize winners in journalism, books, drama, and music.

Fans celebrate Tatsuya Fukazawa’s 33rd birthday, member of Japanese idol group Snow Man, trending on X.

Sports:

Norway’s Casper Ruud wins the Madrid Open final against Jack Draper in a 7-5, 3-6, 6-4 match.

China’s Liu Shengshu and Tan Ning win the women’s doubles badminton final at the BWF Sudirman Cup in Xiamen, China.

Regional News:

Myanmar’s Shwedagon Pagoda attracts over 2.5 million visitors in the first four months of 2025.

Australia’s Labor Party projected to win a huge majority in the 2025 federal election, with around 90 seats.

Other Notable Events:

Cinco de Mayo celebrations highlight the Mexican army’s 1862 victory over French forces at the Battle of Puebla, distinct from Mexican Independence Day.

The upcoming Papal Conclave to elect a new pope begins May 7 in Rome, with global focus on the process.

These headlines reflect a mix of global, political, economic, and cultural developments. (Grok)

Media Man Int

News

Meme Man Brands Of The Day: Dogecoin, Xbox and The Perth Mint

Markets and Cryptos

May 2, 2025

Sydney, Australia

Markets:

ASX futures down 9 points/0.1% to 8153
AUD -0.3% at US63.86¢
Bitcoin +2.6% to $US96,560
Dow +0.7% S&P +1.2% Nasdaq +2.1%
Gold -1.9% to $US3227.23 an ounce
Oil +1.5% at $US61.95 a barrel
Iron ore -1.2% at $US95.20 a ton

Crypto Today:

Bitcoin. $96,857.23. 2.30%
Ethereum. $1,848.94. 2.43%
XRP. $2.2249. 0.71%
BNB. $599.84 USD +0.01%
Solana. $150.61 USD +2.64%
USD Coin. $1.00 USD -0.01%
Dogecoin. $0.1816 USD +4.87%

Crypto News

Ripple’s Regulatory Milestone: Ripple became the first blockchain-powered payments provider licensed by Dubai’s DFSA, enabling regulated cross-border crypto payments in the UAE, a key global trade hub.

XRP Market Dynamics: Despite a 30% price drop, XRP analysts highlight strong fundamentals and institutional integration, suggesting the dip may be a strategic shakeout before a potential rally to $3.

SoFi’s Crypto Push: Fintech SoFi plans to reintroduce crypto investing by year-end, leveraging new U.S. regulatory guidance. They aim to integrate blockchain across lending, savings, and payments within 24 months.

UK and US Regulatory Alignment: The UK announced draft rules to regulate crypto exchanges and dealers, aiming to align with the U.S. under Trump’s pro-crypto policies, despite EU concerns.

Stablecoin Developments: Visa and Bridge partnered to launch stablecoin-linked cards in Latin America, while Abu Dhabi’s ADQ, IHC, and First Abu Dhabi Bank plan a dirham-backed stablecoin.

Worldcoin’s U.S. Entry: Sam Altman’s Worldcoin (now World) will debut in U.S. cities like Atlanta and San Francisco, offering its WLD token for identity verification via Orb scans.

Security Concerns: North Korea’s Lazarus Group is targeting crypto developers with malware through fake U.S. companies, escalating cyber threats.

Markets and Cryptos

April 28. 2025

Sydney, Australia

Markets:

ASX futures up 2 points/0.02% to 8078
AUD -0.1% at US63.91¢
BTC +0.1% to $US94,422
Dow +0.1% S&P +0.7% NAS +1.3%
Gold -0.9% to $US3319.72 an ounce
Oil +0.5% at $US66.87 a barrel
Iron ore -0.9% at $US98.60 a ton

Cryptos Today:

Bitcoin $94,380.95 USD -0.08%
Ethereum $1,803.59 USD -0.80%
Tether $1.00 USD -0.14%
XRP $2.28 USD +3.50%
BNB $606.29 USD -0.46%
Solana $149.14 USD +0.08%
USD Coin $0.9995 USD -0.12%
Dogecoin $0.182 USD +0.42%
Cardano $0.7146 USD +0.94%
TRON $0.2474 USD -2.16%

Markets and Cryptos

April 24, 2025

Markets:

ASX futures down 8 points/0.1% to 7925
AUD -0.2% at US63.57¢
BTC +2.1% to $US93,467
Dow +0.9% S&P +1.5% NAS +2.3%
Gold -2.7% to $US3291.17 an ounce
Brent oil -2.1% at $US66.02 a barrel
Iron ore +1.7% at $US100.30 a ton

Cryptos Today:

Bitcoin $93,462.51 USD +0.36%
Ethereum $1,793.04 USD +2.35%
Tether $1.00 USD +0.18%
XRP $2.22 USD -0.49%
BNB $606.23 USD -0.68%
Solana $150.92 USD +2.35%
USD Coin $0.999 USD -0.01%
Dogecoin $0.1784 USD +0.43%
Cardano $0.6953 USD +3.18%
TRON $0.2469 USD +0.02%

Markets and Cryptos

Markets:

April 23, 2025

ASX futures up 103 points/1.3% to 7939
AUD -0.7% at US63.68¢
BTC +4.5% to $US91,358
Dow +2.7%
S&P +2.1%
NAS +2.5%
Gold -1.5% to $US3371.27 an ounce
Oil +1.5% at $US67.22 a barrel
Iron ore -0.7% at $US98.65 a ton

Cryptos Today:

Bitcoin $91,075.31 USD +4.29%
ETH $1,695.23 USD +7.53%
Tether $1.00 USD -0.02%
XRP $2.16 USD +3.57%
BNB $607.70 USD +1.95%
Solana $144.34 USD +5.47%
USD Coin $0.9994 USD -0.08%
Dogecoin $0.1728 USD +9.13%

Markets

April 22, 2025

Sydney, Australia

ASX futures up 47 points/0.6% to 7833
AUD +0.6% at US64.18¢
Bitcoin +3.1% to $US87,298
Dow -2.7%
S&P -3.0%
Nasdaq -2.9%
Gold +2.8% to $US3420.95 an ounce
Brent oil -2.1% at $US66.55 a barrel
Iron ore +2.2% at $US99.60 a tonne

Cryptos Today

Bitcoin: $88,043.85USD
Ethereum: $1,623.35
Tether: $1.0002
XRP: $2.1231
BNB: $603.36
Solana $139.13

News

BlackRock Boosts Bitcoin ETF with $84M Purchase BlackRock, a major financial firm, has purchased $84 million worth of Bitcoin for its spot Bitcoin ETF. This move reflects ongoing institutional interest in cryptocurrencies, despite uncertainties in the broader crypto market, including legal issues surrounding other cryptocurrencies like XRP. (Grok)

News

MicroStrategy's $555M Bitcoin Purchase MicroStrategy, led by Michael Saylor, has further expanded its Bitcoin investment by purchasing an additional 6,556 BTC for approximately $555.8 million, at an average price of $84,785 per Bitcoin. This acquisition increases their total holdings to 538,200 BTC, now valued at around $36.47 billion. The move underscores Saylor's ongoing strategy of accumulating Bitcoin, with the company achieving a Bitcoin yield of 12.1% year-to-date in 2025. This significant investment has been widely discussed online, reflecting Saylor's belief in Bitcoin as a key asset for MicroStrategy.

News

Best Quotes Of The Day:

Truth Social, the US President declared, “THE GOLDEN RULE OF NEGOTIATING AND SUCCESS: HE WHO HAS THE GOLD MAKES THE RULES.”

News

MicroStrategy's Massive Bitcoin Purchase

MicroStrategy, under the leadership of Michael Saylor, has significantly expanded its Bitcoin holdings by purchasing an additional 6,556 Bitcoins for approximately $555.8 million at an average price of $84,785 per Bitcoin. This acquisition increases their total to 538,200 Bitcoins, representing about 2.56% of the total Bitcoin supply, with a current valuation of around $36.47 billion. This strategic move underscores MicroStrategy's strong conviction in Bitcoin's long-term value, sparking discussions on its impact on Bitcoin's market dynamics and the broader implications for corporate investment strategies in cryptocurrency. (Grok)

News

The Dollar Repeats Its Bearish Pattern of the 1980s and 2000s

After four consecutive weeks of decline, the dollar index started the new Monday by continuing its move into the territory of three-year lows. Once again, a worrying sign is that this dollar weakness is not translating into buying in stocks or bonds — their indices are also losing ground. From a technical standpoint, the dollar index has broken through the 161.8% level of the initial impulse from the highs at the start of the year to a significant pause in early March. The DXY received little to no support around the 99–100 area, which had triggered reversals over the past two years.

The dollar index is now trading around the same levels it held during the second half of Trump's previous presidential term, from 2018 to the first half of 2020. On the daily timeframes, the RSI is showing the deepest oversold conditions since July 2020, and on the weekly chart — since 2017.

Although this setup creates favourable conditions for a rebound, previous instances have led not to a full reversal but to consolidation and further decline. A confident break below the 200-week moving average underlines the strength of the current sell-off. In the history of free-floating forex markets — roughly the past half-century — the current situation on the long-term charts could be only the third similar case, following the episodes of the mid-1980s and early 2000s. In those cases, peaks in the dollar were followed by two and six years of decline, shaving off 45% and 40% respectively.

In both instances, the dollar went on to update its historical lows, while a major side effect was global recession and a serious downturn in financial markets.

Focusing solely on the implications for the US currency, a repeat of the 1980s and 2000s patterns suggests a potential move below 70, although this could take years.

A more immediate and realistic target for bears is a pullback towards the 90 area on the index, where reversals took shape in 2018 and 2020. A gradual decline, akin to the 2002–2008 period, appears more likely than a near-vertical collapse reminiscent of the 1980s. Along the way, prolonged consolidations and even substantial rebounds are possible. (FxPro)

News

Gold Up

Wall Street brokers are urging clients to buy gold despite prices already surging nearly 30 per cent this year as analysts scramble to adjust forecasts to keep up with the precious metal’s dizzying rally. Goldman Sachs declared late last week that gold still offered an “attractive entry point” for investors, forecasting prices could hit $US4000 an ounce by the middle of next year. That’s 18 per cent above the precious metal’s current price, which hit another all-time high above $US3384 an ounce on Monday.

News

Gold Price: 3,424.50 USD +97.50 (+2.93%)

Markets and Cryptos

Major stock indexes down, with the Nasdaq taking the biggest hit, falling more than 3%.

Big tech shares fell, led by Tesla, Nvidia and Apple.

The ICE U.S. dollar index, a measure of the dollar against a basket of major currencies, slipped more than 1% to its lowest level in three years. The dollar hit fresh lows against the euro, pound, yen and Swiss franc.

Treasury yields up, with the 10-year up to 4.39%.

Gold surged to over $3,400 an ounce, a new record

Bitcoin rallied

Japan's Nikkei dropped 1.3%

China's CSI 300 rose 0.3%.

Markets in Hong Kong and Europe closed for the Easter holiday.

Dow falls 1,000 pts, Nasdaq down 3%, S&P 2%

The Dow Jones fell 1,053.09 points or 2.69% to 38,089.14, the S&P 500 dropped 145.32 points or 2.75% to 5,137.38, and the Nasdaq declined 499.13 points or 3.06% to 15,787.31.

Cryptos Today:

April 21, 2025 (US)

Bitcoin: $88,043.85USD

Ethereum: $1,623.35

Tether: $1.0002

XRP: $2.1231

BNB: $603.36

Solana $139.13

News

BlackRock Boosts Bitcoin ETF with $84M Purchase

BlackRock, a major financial firm, has purchased $84 million worth of Bitcoin for its spot Bitcoin ETF. This move reflects ongoing institutional interest in cryptocurrencies, despite uncertainties in the broader crypto market, including legal issues surrounding other cryptocurrencies like XRP. (Grok)

News

MicroStrategy's $555M Bitcoin Purchase

MicroStrategy, led by Michael Saylor, has further expanded its Bitcoin investment by purchasing an additional 6,556 BTC for approximately $555.8 million, at an average price of $84,785 per Bitcoin. This acquisition increases their total holdings to 538,200 BTC, now valued at around $36.47 billion. The move underscores Saylor's ongoing strategy of accumulating Bitcoin, with the company achieving a Bitcoin yield of 12.1% year-to-date in 2025. This significant investment has been widely discussed online, reflecting Saylor's belief in Bitcoin as a key asset for MicroStrategy.

News

Best Quotes Of The Day:

Truth Social, the US President declared, “THE GOLDEN RULE OF NEGOTIATING AND SUCCESS: HE WHO HAS THE GOLD MAKES THE RULES.”

News

MicroStrategy's Massive Bitcoin Purchase

News

The Dollar Repeats Its Bearish Pattern of the 1980s and 2000s

From a technical standpoint, the dollar index has broken through the 161.8% level of the initial impulse from the highs at the start of the year to a significant pause in early March. The DXY received little to no support around the 99–100 area, which had triggered reversals over the past two years.

In the history of free-floating forex markets — roughly the past half-century — the current situation on the long-term charts could be only the third similar case, following the episodes of the mid-1980s and early 2000s. In those cases, peaks in the dollar were followed by two and six years of decline, shaving off 45% and 40% respectively. In both instances, the dollar went on to update its historical lows, while a major side effect was global recession and a serious downturn in financial markets.

Focusing solely on the implications for the US currency, a repeat of the 1980s and 2000s patterns suggests a potential move below 70, although this could take years. A more immediate and realistic target for bears is a pullback towards the 90 area on the index, where reversals took shape in 2018 and 2020. A gradual decline, akin to the 2002–2008 period, appears more likely than a near-vertical collapse reminiscent of the 1980s. Along the way, prolonged consolidations and even substantial rebounds are possible. (FxPro)

News

Gold Up

Goldman Sachs declared late last week that gold still offered an “attractive entry point” for investors, forecasting prices could hit $US4000 an ounce by the middle of next year. That’s 18 per cent above the precious metal’s current price, which hit another all-time high above $US3384 an ounce on Monday.

News

Gold Price: 3,424.50 USD
+97.50 (+2.93%)

News

Further updates and numbers within 120 minutes.

Crypto, FinTech, Comms, Mining, Politics and News Media

Under The Media Man Watercooler

April 16, 2025

News

Crypto Today:

Bitcoin -0.78% to $US84,112 on Bitstamp at 6.23am AEDT

The S&P 500 fell 0.17 per cent, the Nasdaq 100 was down 0.05 per cent and the Dow Jones Industrial Average fell 0.38 per cent. Bitcoin fell 1 per cent to $US83,970.85 and Ether was down 1.6 per cent to $US1608.22.

News

U.S. Bans Nvidia H20 Chip Exports to China

The U.S. government has issued a ban on Nvidia's export of H20 chips to China, citing national security concerns. Nvidia has announced an anticipated $5.5 billion charge to its Q1 earnings due to this ban, leading to a significant drop in its stock price. This decision reflects ongoing U.S.-China tech tensions, influencing both tech supply chains and market dynamics. (Grok)

News

Movement Labs Under Internal Review; Co-Founder Takes Leave

Movement Labs has launched an internal investigation following issues with a market maker linked to their MOVE token. Concurrently, co-founder Rushi Manche has taken an indefinite leave from the company. There are conflicting reports on whether this leave is temporary or permanent, with Manche himself stating he is 'still' at Movement Labs. (Grok)

News

The crypto market gathers strength after the rebound

Market Picture

The cryptocurrency market added 8% over 7 days, stabilising at the $2.7 trillion level since Saturday. This is where the market tried to find support in the last days of March before collapsing at the start of April. A move higher could bolster hopes for further gains, but these expectations will only be confirmed after a solid consolidation above the 200-day moving average, which is now near $2.97 trillion.

Bitcoin continues its cautious rise, trading above its 50-day moving average and reaching $85.7K. This is an important technical attempt to reverse the downtrend. Interestingly, the 200-day average is quite close, so a second confirmation of a trend change could come quite quickly. However, from a pessimistic point of view, it is worth noting that bitcoin has entered a resistance accumulation zone where the strength of the initial rebound may fade.

Solana has added 20% over the past seven days. From a technical perspective, this is an attempt to get back into the bull market zone. Solana is recovering faster than many of the major altcoins, trading at its 50-day moving average near $130. A consolidation above this level will open the way to $145, the area of previous peaks. A sustained move above them will signal a break of the downtrend and could lead to a move towards $180.

News Background

According to CoinShares, global investments in crypto funds fell by $795 million last week after outflows of $240 million a week earlier. Bitcoin investments were down $751 million, Ethereum was down $38 million, and Solana was down $5 million, but investments in XRP were up $3.4 million, and Algorand and Avalanche were up $0.25 million.

Coinshares noted that recent tariff changes have led to record outflows of $7.2bn, effectively levelling out almost all of the inflows since the start of the year.

Call options on Bitcoin at $100K were the most popular on the Deribit platform, with a total open interest of nearly $1.2bn, according to CoinDesk analyst Omkar Godbole. The $70K put options were the second most popular, with $982 million in open interest.

Project Mantra's MANTRA token (OM) collapsed by 90%, and its market capitalisation dropped from $5.5 billion to $765 million. The crypto community suspects fraud, calling it the biggest rug pull since the collapse of LUNA and FTX. (FxPro)

News

Gold Reaches New Peak at $3,267, Predicted to Rise Further

Gold prices have surged to a new all-time high, reaching approximately $3,267 per ounce, influenced significantly by trading activities in Asia, particularly China. Financial analysts from Goldman Sachs have predicted that gold could potentially increase by an additional 38% by the end of 2025, projecting a price around $4,500 per ounce. This spike is seen in the context of increased global liquidity and a shift towards safe-haven investments amid market volatility. (Grok)

News

Markets

Australian Dollar: $0.6350 USD (up $0.0025 USD)
Iron Ore May Spot Price (SGX): $98.75 USD (up $0.85 USD)
Oil (WTI): $61.53 USD (down $0.07 USD)
Gold: $3,229.93 USD (up $19.36 USD)
Copper (CME): $4.6155 USD (down $0.0430 USD)
Bitcoin: $84,152.84 USD (down 0.50%)
Dow Jones: 40,368.96 (down 155.83 points)

News Update

ALL ORDS 7,987.30 +0.22%
ASX 200 7,783.90 +0.29%
AUD/USD 0.6350 +0.13%
OIL 61.14 -0.31%
GOLD 3,294.30 +1.66%
Bitcoin AUD 131,734.02 -1.91%
XRP AUD 3.28 -3.06%
AUD/EUR 0.5598 -0.24%

News

Crypto Today: Update

Pi Network. $0.6621. -10.94%
XRP. $2.13. -1.40%
Bitcoin. $84,961.00. -0.96%
Dogecoin. $0.1561. -2.73%
Shiba. $0.000012. -2.16%
Pi Network [IOU... pi. $0.6600. -10.62%
MEME. $0.000110. +12.36%
Solana. $129.75. -1.81%

News

Bitcoin Movie News

Satoshi Nakamoto Film: A feature-length movie about Bitcoin’s enigmatic founder, Satoshi Nakamoto, is in development, directed by Sophia Banks. Based on Andrew O’Hagan’s article “The Satoshi Affair,” it explores the mystery behind Bitcoin’s creator through investigative storytelling.

Biggest Heist Ever (Netflix Documentary): Released in December 2024, this documentary covers the 2016 Bitfinex heist by Ilya Lichtenstein and Heather Morgan, dubbed “Bitcoin’s Bonnie and Clyde.” They stole nearly 120,000 Bitcoin (worth $4.5 billion today), causing a 20% drop in Bitcoin’s value at the time. The documentary faced cease-and-desist demands from Morgan’s lawyers for alleged privacy violations and false claims.

Crypto Man (South Korean Film): A major crypto-themed movie based on true events, “Crypto Man,” was released in South Korean theaters in January 2025. It’s generating buzz for its realistic portrayal of the crypto world.

G20 (Amazon Prime Movie): Released in April 2025, this action film starring Viola Davis features Bitcoin and digital currencies as a central plot element, reflecting crypto’s growing cultural presence. Posts on X highlight its pro-Bitcoin stance, with the plot involving governments attempting to control digital currencies, countered by Bitcoin’s decentralized nature.

Aimy in a Cage: This 2015 dystopian horror film, directed by Hooroo Jackson, was the first movie fully funded by Bitcoin investments, notable for its independence from studio interference.

Cold Wallet: A 2025 thriller about cryptocurrency fraud, presented by Steven Soderbergh, has been praised for its suspenseful take on the crypto world.

These projects reflect Hollywood’s increasing fascination with Bitcoin and cryptocurrency, blending real-world events with dramatic storytelling. For more details on specific films, I can dive deeper into any of these! (Grok)

News

Australia

ASX edges up as CSL climbs; Belleveue sinks

The Australian sharemarket posted a small gain on Tuesday, with the S&P/ASX 200 adding 0.2 per cent to close at 7,761.7 points. Iluka Resources was up 5.2 per cent at $3.62, CSL advanced 2.6 per cent to end the session at $244.10 and Westpac rose 0.8 per cent to $30.76. However, Bellevue Gold shed 21.8 per cent to finish at $0.895 and Collins Foods was down 7.7 per cent at $8. (Roy Morgan Summary)

News

Stock market: Famous Quotes:

"An investment in knowledge pays the best interest." — Benjamin Franklin

"Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows." — Jim Rogers

"Be fearful when others are greedy and greedy only when others are fearful." — Warren Buffett

Markets

April 15, 2025

ASX futures up 31 points/0.4% to 7805

AUD +0.7% to US63.32¢

Bitcoin +0.3% to $US84,895

Wall Street:

Dow+1%
S&P +0.9%
Nasdaq +0.9%
VIX -5.94 to 31.62
Gold -0.9% to $US3209.82 an ounce
Oil -0.3% to $US64.58 a barrel
Iron ore +0.8% to $US97.90 a ton
10-year yield: US 4.36% Australia 4.40%

Cryptos Today:

Pi Network. $0.7407. -1.07%
XRP. $2.14. -1.38%
Bitcoin. $84,578.00. -0.22%
Dogecoin. $0.1605. -3.55%
Shiba. $0.000012. -1.06%
Pi Network [IOU... pi. $0.7411. -1.01%
MEMES. $0.000100. +0.06%
Solana. $129.78. -1.17%

Markets

April 12, 2025

ASX futures up 23 points/ 0.3% to 7683

AUD +1% to US62.86¢

Bitcoin +5.2% to $US83,813

Wall St:

Dow +1.6%
S&P +1.8%
Nasdaq +2.1%
VIX -3.08 to 37.64
Gold +1.9% to $US3235.90 an ounce
Brent oil +2.2% to $US64.72 a barrel
Iron ore +0.1% to $US97.20 a tonne
10-year yield: US 4.48% Australia 4.39%

Cryptos Today:

BTC. $83,838.53. 5.57%
ETH. $1,570.31. 3.55.
USDT. $0.9996. 0.02%
XRP. $2.0561. 4.70%
BNB. $589.40. 2.45%
SOL. $120.77. 8.53%
USDC. $0.9999. 0.00%
DOGE. $0.1606. 4.79%

Crypto, Bitcoin, FinTech, Comms, Politics, News

April 9, 2025

(US)

News

Bitcoin Surges Past $83,000: Market Reactions and Predictions

Bitcoin's price surged dramatically, breaking past $81,000 and reaching over $83,000 within hours. This spike was influenced by market dynamics and possibly by external economic factors like tariffs. Analysts and enthusiasts expressed optimism, predicting potential rises to $88,000 or even $95,000 if certain support levels held firm. The crypto market showed significant volatility, with Bitcoin experiencing fluctuations but maintaining an upward trend, indicative of a strong bullish sentiment. Discussions among traders and investors highlighted successful predictions and strategic buying, with some suggesting that the market might be experiencing a short squeeze. (Grok)

News

The crypto market has returned to this week's lows

Market Picture

Crypto market capitalisation declined more than 2% in 24 hours to $2.46 trillion. As was the case at the beginning of the week, the intraday dip below $2.40 trillion attracted buyers. As is often the case, an important resistance level became support. From around these levels, we saw the start of the rally after Trump's election, and now the fightback is intensifying again, as seen in the increased trading volumes.

Crypto market sentiment was at its lowest point in the last five weeks, with the corresponding index to 18 (extreme fear) declining. By the index's design, these levels are buying opportunities. However, it is much more prudent to buy when the index is confidently moving out of the extreme fear zone.

Bitcoin was down to $75K early in the day, approaching Monday's lows and echoing the dynamics of U.S. stock indices. Selling is starting from increasingly lower levels, with the RSI index above the oversold area on daily timeframes. This fails to attract buyers on dips and sets up a wait-and-see approach.

XRP is testing its 200-day average, having pulled back to the $1.82 area, 45% cheaper than its peak price in January, and back to the 2021 highs. A failure under this line could accelerate the sell-off of the fourth-largest cryptocurrency.

News Background

Bernstein noted that Bitcoin has proved more resilient amid tariff turbulence in markets than during previous crises. The first cryptocurrency is still worth investing in as a means of saving in the long term.

Bitcoin could collapse to $10,000, warns Bloomberg Intelligence senior strategist Mike McGlone. This could happen as part of a global correction in financial markets. According to the analyst, “the entire crypto space needs to be cleaned up, just as it was with the dot-com bubble.”

Ethereum's fall below its realised price ($2200) indicates panic among owners of the second most capitalised cryptocurrency, which historically serves as a bullish signal for the medium term, CryptoQuant notes.

Built-in Telegram Wallet will soon be available to US users. The service will be launched in the second quarter of 2025. (FxPro)

News

Fear and Greed: How to Catch Falling Knives?

Over the past week, the probability of a key Fed rate cut in May jumped from 11% to 47% and reached nearly 60% on Tuesday.

For year-end, the market now sees the prevailing scenario as a 100-point rate cut to 3.25%-3.50% or lower with a 75% probability, although a month ago, those odds were barely above a quarter.

This could be a technical move reflecting a flight to defensive short-term government bonds. The jump in 10- and 30-year long-term government bond yields, which typically fall along with declining short-term yields, supports this hypothesis.

Such erratic movements increase pessimism about the outlook for equities, where liquidation of margin positions may continue or intensify.

While this is usually favourable for the dollar, we are now seeing increased pressure on the US currency due to the sell-off in equities and long-term bonds.

Technically, the dollar index has already been in an active decline phase since early April, having broken sharply below the March support area. The rebound at the start of the week only closed the gap without changing the pattern, which suggests a fall to the 99 area - almost 3% from current levels.

Although other major economies are also expected to accelerate rate cuts, markets tend to play down the changes in the US first. This has caused the dollar to rise before the rate hike cycle begins in 2022 and fall before the first cuts in 2024 and 2020. In terms of stress and uncertainty, the current situation resembles March 2020. (FxPro)

News

Cryptos Today:

BTC. $82,532.54. 8.04%
ETH. $1,660.31. 13.34.
USDT. $0.9996. 0.05%
XRP. $2.0452. 14.86%
BNB. $581.08. 5.49%
SOL. $118.66. 13.45%
USDC. $0.9998. - 0.01%
DOGE. $0.1597. 12.99%

Markets Today:

Australian Dollar: $0.6150 USD (up $0.0190 USD)
Iron Ore May Spot Price (SGX): $93.75 USD (down $1.15 USD)
Oil (WTI): $62.71 USD (up $4.48 USD)
Gold $3,081.30 USD (up $98.77 USD)
Copper (CME): $4.4715 USD (up $0.3555 USD)
Bitcoin: $83,453.18 USD (up 8.36%)
Dow Jones: 40,608.45 (up 2,962.86 points)

News

Spot gold posts biggest intraday jump in five years

Gold extended gains for the biggest intraday jump in five years as global markets gyrated and bonds sold off after US President Donald Trump imposed new import tariffs and China and Europe hit back with levies of their own. Spot gold rose as much as 3.8 per cent to as high as $US3095.13 an ounce on Wednesday, the biggest intraday increase since March 2020. An exodus from longer-dated US government bonds – typically a haven in times of turmoil – underscored a jittery day for investors as Trump’s historic trade measures came into effect. Bullion extended recent declines before swinging higher by as much as 3.4 per cent, the biggest intraday jump since October 2023.The sell-off in Treasuries sent long-term yields soaring worldwide, threatening to deliver another hit to the US economy. Rising yields would normally weigh on bullion given its inverted relationship with inflation-adjusted rates.“Gold is currently the ultimate safe haven as worries about US fiscal stability continue to rise,” said Ole Hansen, head of commodity strategy at Saxo Bank AS.

News

Oil prices advance as Trump pauses tariffs on some countries

Oil prices surged for the first time since US President Donald Trump launched a trade war against most of America’s trading partners, as some countries won a brief reprieve on Wednesday. Global benchmark Brent crude advanced above $US65 a barrel after plunging for four sessions and slipping below $US60 for the first time since 2021. West Texas Intermediate climbed to above $US61.Trump announced a 90-day pause on higher reciprocal tariffs that hit dozens of trade partners after midnight. The latest move rippled across broader markets, sending equities and commodities surging on the prospect that the conflict in international commerce would ease, reducing the likelihood of a recession. It wasn’t immediately clear which nations would receive tariff relief, as China and the US continue to escalate their trade war, with Trump raising duties on the nation to 125 per cent.

News

Trump cites Australia in his 'clean coal' energy overhaul

US President Donald Trump aims to revive the nation's coal industry by streamlining project approvals and opening up more federal land for coal mining. Trump has signed several executive orders relating to coal; they include designating coal as a critical mineral and preventing 'discrimination' against the use of coal for power generation rather than greener fuels. Trump said his administration is "bringing back" an industry that was abandoned by his White House predecessor, Joe Biden. Trump added that the US has more coal than any other country; he also noted that Australia has "fantastic" amounts of coal but sells a lot of it to China.

News

Australia

Trump could unlock a copper bonanza for Rio Tinto

Rio Tinto's head of copper, Katie Jackson, says the resources group is hopeful that the Trump administration will be more amenable to projects such as the Resolution open cut copper mine in Arizona. Jackson recently stated that Rio Tinto has held talks with the Trump administration regarding the project, which has faced hurdles such as opposition from Native American groups. Rio Tinto hopes that President Donald Trump's recent move to invoke emergency powers in order to boost domestic production of critical minerals will end the stalemate over the project. Rio Tinto has a 55 per cent stake in Resolution, while BHP has a 45 per cent stake. (RMS)

News

Safety breach costs Northern Star $750k

Northern Star Resouces' CEO Stuart Tonkin has emphasised that the health and safety of its workforce is one of the gold producer's core values. He adds that a safety breach which seriously injured a drill operator in serious in 2023 was unacceptable. The worker was hit by a boom while helping to repair and service a jumbo drill at the Carosue Dam mine in Western Australia. Northern Star was fined $750,000 by the Perth Magistrate's Court after pleading guilty to breaching the state's Work Health and Safety Act. The court was told that safety procedures were not being followed when the incident occured. (RMS)

News

Spotlight on MinRes capital raising plans, Wodgina sale

Mineral Resources recently advised that an equity raising has not been under consideration; the company has also stated that it has no plans to sell its 50 per cent stake in the Wodgina lithium mine in the Pilbara region. However, sources have suggested that the debt-laden iron ore and lithium producer may be open to both options. A capital raising may be difficult at present, given that Mineral Resources' shares have fallen from around $71 a year ago to $14.40 on Wednesday. Mineral Resources had sounded out potential buyers of its Wodgina stake in late 2024, but it is said to have not received any sufficiently attractive offers. (Roy Morgan Summary)

News

Trump's Tariff Flip-Flop Sparks Market Surge and Insider Trading Probe

On April 9, 2025, President Donald Trump announced via social media a 125% tariff increase on China, followed by a pause on all US tariffs just hours later. This led to significant market fluctuations, with the Dow Jones recording its highest single-day gain in history, up 2,965 points, and an addition of $5.5 trillion to the US stock market. Concerns have been raised about potential market manipulation and insider trading, prompting Senator Adam Schiff to announce an investigation into who may have known about the tariff changes in advance and profited from them. (Grok)

Cryptocurrency, Fintech, Markets, Comms, Biz, Politics

April 8, 2025

Markets

ASX futures up 70 points or 1% to 7407

AUD -0.9% to US59.85¢

Bitcoin -1.8% to $US78,177

Wall St:
Dow -0.9%
S&P -0.2%
Nasdaq +0.1%

VIX +2.28 to 47.59

Gold -2.1% to $US2973.94 an ounce
Brent oil -1.8% to $US64.39 a barrel
Iron ore -2.5% to $US98.15 a tonne
10-year yield: US 4.22% Australia 4.09%

News

April 8, 2025

Crypto Today:

Bitcoin USD78,448.59 -925.88 (-1.17%)

ETH-USD Ethereum USD1,559.13 -57.66 (-3.57%) USDT-USD

Tether USDt USD0.999479 -0.000052 (-0.01%)

XRP-USDXRP USD1.9051 -0.0864 (-4.34%)

News

As of today, April 8, 2025, the cryptocurrency market is showing a mix of resilience and volatility amid broader economic pressures. Here’s a snapshot based on the latest available insights:

Bitcoin (BTC), the leading cryptocurrency, has experienced significant fluctuations recently. After dropping below $80,000 due to tariff-related concerns and a global market sell-off, it was last reported around $78,892.92 as of April 7, though some sources noted a rebound to $83,959.19 by April 5. The market is reacting to macroeconomic factors, particularly U.S. tariffs announced by the Trump administration, which have heightened fears of a global recession. Despite this, Bitcoin has shown signs of decoupling from traditional equities, with some analysts suggesting it’s acting as a hedge against U.S. isolation and equity market downturns.

Ethereum (ETH) also faced pressure, with a whale injecting millions to prevent a $300 million liquidation on MakerDAO, as reported on April 7. This move underscores the intense market dynamics, with Ether prices slumping alongside Bitcoin amid the same macroeconomic concerns.

Other cryptocurrencies like XRP have seen developments too. Coinbase Derivatives plans to launch XRP futures contracts on April 21, 2025, signaling growing institutional interest despite the market turbulence. XRP has been relatively resilient compared to some peers, buoyed by ETF optimism and regulatory clarity following the SEC dropping a lawsuit.

The broader crypto market, tracked by indices like the CoinDesk 20, has seen a milder drop (around 4.9%) compared to the Nasdaq’s steeper declines, hinting at a potential shift where digital assets might outperform traditional markets in this uncertain climate.

Meanwhile, posts on X suggest speculation about the U.S. government revealing Bitcoin holdings today, though this remains unconfirmed and should be treated as inconclusive without official sources.

Overall, the crypto space today is navigating a storm of trade policy uncertainty, regulatory shifts, and investor sentiment, with prices reflecting both fear and opportunity. For the latest minute-by-minute updates, you might want to check real-time data from platforms like CoinDesk or Cointelegraph, as the situation is evolving rapidly. What specific aspect of crypto today are you most interested in? (Grok)

News

GameStop CEO Ryan Cohen Buys 500,000 More Shares

On April 3, 2025, Ryan Cohen, CEO of GameStop, purchased an additional 500,000 shares of the company's stock at an average price of $21.55 per share. This transaction was disclosed in a Form 4 filing. The purchase has sparked discussions and reactions among investors and followers on social media platforms, with some expressing increased confidence in their GameStop investments. (Grok)

News

McGregor's $REAL Token Fails to Launch, Investors Refunded

Conor McGregor's $REAL token, launched in partnership with Real World Gaming DAO, failed to meet its presale target of $1 million, raising only $392,000. As a result, all investor funds are being refunded. The token's failure to launch has sparked discussions about McGregor's influence and the current state of the cryptocurrency market, particularly regarding celebrity-endorsed memecoins.

News

Memecoins: Top 10

April 8, 2025

Dogecoin (DOGE)
The original memecoin, launched in 2013, inspired by the "Doge" Shiba Inu meme. It remains a leader due to its massive community and endorsements from figures like Elon Musk.

Shiba Inu (SHIB)
Often called the "Dogecoin killer," SHIB has built a strong ecosystem, including ShibaSwap, and ranks high with its large market cap and active community.

Pepe (PEPE)
Based on the Pepe the Frog meme, this coin surged in popularity since its 2023 launch, focusing purely on meme appeal and community momentum.

dogwifhat (WIF)
A Solana-based memecoin featuring a Shiba Inu in a knitted hat, it’s gained traction for its absurdity and viral social media presence.

Bonk (BONK)
Another Solana memecoin, BONK aims to be the "people’s dog coin" with fast transactions and a fun, community-driven approach.

Floki Inu (FLOKI)
Named after Elon Musk’s pet dog, FLOKI has evolved into a Web3 project with utility in NFTs, DeFi, and its own metaverse, Valhalla.

Brett (BRETT)
A rising star on the Base network, BRETT has captured attention with its humorous branding and growing community support.

Popcat (POPCAT)
A Solana-based memecoin tied to the viral Popcat meme, it’s climbed the ranks with its quirky appeal and bullish momentum.

Mog Coin (MOG)
An Ethereum-based memecoin with a cat theme, MOG has built a cult following through its simplicity and meme culture resonance.

Cat in a Dogs World (MEW)
A Solana memecoin challenging the dog-dominated space, MEW stands out with strategic tokenomics, including burns and airdrops, boosting its recovery potential.

News

Fartcoin Surges Amidst U.S. Stock Market Decline: Investors Debate New Safe Haven

April 5, 2025

During a significant stock market downturn where stocks lost $5 trillion in two days, Fartcoin, a meme cryptocurrency on the Solana blockchain, unexpectedly surged by 24%. Discussions online have highlighted Fartcoin's rise, with its market cap reaching over $500 million, making it a notable player in the meme coin market. Investors and observers are debating its role as a potential 'safe haven' during financial turmoil, with some humorously suggesting the establishment of a 'Fartcoin strategic reserve'. Despite its origins as a humorous token, there is speculative interest in its long-term value.

News

Mining

Australia

BHP says China demand for iron ore to remain strong

April 7, 2025

BHP's chief commercial officer Rag Udd expects the price of the steel input to trade within a range of $US80 to $US100 per tonne in coming years, even with the increased supply when shipments from the Simandou mine in Guinea begin next year. Udd dismisses fears that Simandou will be a 'Pilbara killer', noting that production is slated to reach just 120 million tonne in 2030. He has also downplayed concerns about the prospect of lower demand for iron ore in China, noting that investors have focused too much on the nation's struggling property sector rather than rising demand for steel in other sectors of the Chinese economy.

News

Australia

Mining sector urges Dutton not to class gas a 'critical mineral'

Opposition Leader Peter Dutton has stated a Coalition government would let the gas industry access a $4 billion loans facility that was set up by the federal government in 2023 to encourage investment in critical minerals such as lithium, cobalt and graphite. Australian Mining and Exploration Association CEO Warren Pearce says it believes the critical minerals facility should be reserved for critical minerals projects, while Arafura Rare Earths MD Darryl Cuzzubbo says the facility is particularly important for embryonic industries such as rare earths mining and processing. (RMS)

Cryptocurrency, Fintech, Markets, Comms, Biz, Politics

April 7, 2025

Markets

ASX futures down 331 points/4.3% to 7388
AUD -0.3% at US60.21¢
Bitcoin -4.3% to $US79,283
Dow -5.5%
S&P -6.0%
Nasdaq -5.8%
Gold -2.5% to $US3038.24 an ounce
Brent oil -6.5% at $US65.58 a barrel
Iron ore flat at $US98.00 a tonne

News

April 7, 2025

Crypto Today:

BTC. $78,820.93. 4.67%
ETH. $1,577.20. 10.02.
USDT. $0.9998. 0.03%
XRP. $1.9566. 7.10%
BNB. $552.66. 6.00%
USDC. $1.0002. 0.03%
SOL. $106.55. 9.74%
DOGE. $0.1499. 9.96%

News

Countries Respond to U.S. Tariffs with Negotiation Offers

Following President Trump's announcement of new tariff policies, Vietnam and Taiwan have both offered to eliminate all tariffs on U.S. goods. Additionally, over 50 countries have reached out to the U.S. to begin trade negotiations, as stated by U.S. National Economic Council Director Kevin Hassett. These actions are in response to the U.S. imposing tariffs, with countries seeking to negotiate new trade deals to mitigate the impact of these tariffs. (Grok)

News

Bitcoin Dips Below $80,000, Hits $78,000 Amid Market Liquidation

On April 6, 2025, Bitcoin experienced a significant price drop, falling below $80,000 and reaching as low as approximately $78,000. This decline was accompanied by a $200 million liquidation from the cryptocurrency market within the past hour. Ethereum also saw a decrease, falling below $1,700, marking a notable downturn in the broader crypto market. (Grok)

News

Trump's Tariffs Prompt Global Trade Shifts

President Trump has recently imposed tariffs on several countries, prompting a variety of responses globally. Vietnam has proposed eliminating tariffs on U.S. goods following discussions with Trump, with plans to send diplomats to Mar-a-Lago to finalize the agreement. In the UK, Prime Minister Keir Starmer has acknowledged the failure of globalization and expressed understanding of Trump's tariff strategy. Meanwhile, business leaders like Elon Musk have advocated for a zero-tariff system between the U.S. and Europe to establish a free trade zone. Public opinion on these tariffs is divided, with some seeing an increase in Trump's approval ratings, while others, including investors, express concerns over economic impacts. (Grok)

Markets

April 4, 2025

ASX futures down 74 points or 0.9% to 7805

AUD +0.6% to US63.35¢

Bitcoin -4.6% to $US82,296

Wall St:

Dow -3.3%
S&P -4.1%
Nasdaq -5.2%
VIX +6.02 to 27.53
Gold -0.7% to $US3112.12 an ounce
Brent oil -6.5% to $US70.09 a barrel
Iron ore -1.5% to $US101.25 a tonne
10-year yield: US 4.05% Australia 4.26%

Cryptos Today:

BTC. $81,846.87. 5.49%
ETH. $1,774.30. 6.24.
USDT. $0.9997. 0.02%
XRP. $2.0101. 6.23%
BNB. $587.77. 2.64%
USDC. $1.0000. 0.01%
SOL. $113.95. 12.19%
DOGE. $0.1581. 8.06%

Markets, Currency and Cryptos

April 3, 2025

Australian Dollar: $0.6290 USD (up $0.0010 USD)
Iron Ore May Spot Price (SGX): $103.00 USD (up $0.30 USD)
Oil Price (WTI): $72.14 USD (down $0.09 USD)
Gold Price: $3,122.31 USD (up $3.61 USD)
Copper Price (CME): $5.0920 USD (up $0.0555 USD)
Bitcoin: $85,925.25 USD (up 1.12% in last 24 hours)
Dow Jones: 42,225.32 (up 235.36 points)

BTC. $83,796.76. 1.54%
ETH. $1,829.35. 3.53.
USDT. $0.9999. 0.01%
XRP. $2.0581. 4.24%
BNB. $601.72. 2.49%
SOL. $120.05. 2.82%
USDC. $0.9999. 0.01%
DOGE. $0.1663. 4.25%

News

Gold boss gets a 42pc pay rise

Mid-tier gold producer Westgold Resources has advised that the base salary of MD Wayne Bramwell rose by 42 per cent on 1 March, to $925,000. Westgold says the salary increase followed an independent market and peer review. Bramwell has also been granted a total of 1.5 million Westgold shares, which are worth about $4.2m based on the company's share price; the shares package is subject to shareholder approval. Westgold issued a production downgrade in February, which prompted a sharp fall in its share price. The company merged with Karora Resources in 2024. (Roy Morgan)

News

April 3, 2025

Crypto News

A worrisome lull in crypto

Market Picture

The crypto market cap was virtually unchanged over the past day, remaining near the $2.70 trillion level. Media reports suggest that all markets are frozen in anticipation of the tariffs and bracing for volatility. We see this as a continuation of a prolonged pause, allowing the bears to accumulate liquidity before a new attack. We will see confirmation of this bearish scenario if market capitalisation falls below $2.62 trillion - the area of previous lows.

The Crypto Market Sentiment Index jumped 10 points to 44 because of the lull, which is close to the upper limit of the fear zone. However, this rise is due to a pause in the sell-off rather than an active recovery.

Bitcoin gained more than 3.5% on Tuesday but paused near $85,300. Once again, the upside momentum was lost on the approach to the 200-day moving average, which is now above $86,400. This is a case where the lack of growth is setting the stage for a decline. At the same time, we prefer to look at Friday's employment data rather than tariffs to find the fundamental reasons for the next move. The former is a more reliable source of information.

News Background

Several on-chain indicators point to a gradual shift in sentiment, a return to buying and 'structural strength in the market', notes Bitcoin Magazine Pro. However, BTC remains 'closely tied to macro liquidity trends and equity markets'.

Cycle tops occur every four years in November-December. There is scope for the pattern to repeat itself this year, with Bitcoin rising to $150,000, the Cyclop analyst expects.

Tether, which issues the USDT stablecoin, bought 8,888 BTC for $734 million, bringing its reserves to 92,646 BTC. In line with its strategy, Tether adds to its reserves at the end of each quarter.

On 1 April, around ten small-cap altcoins, such as ACT, DEXE and HIPPO, saw their prices plummet by up to 50%. The community linked the crash to market maker Wintermute's sell-offs, but the company's founder denied its involvement in the collapse. (FxPro)

News

April 3, 2025

Manufacturing ISM: inflation up, activity down

Tuesday's ISM Manufacturing Indicator confirmed a worrying divergence in the US economy: economic activity is down, and inflation is rising. Often, the latter follows the former, but not now. A prolonged period of such dynamics is called stagflation, and it forces the Fed to make difficult choices in its dual mandate.
The ISM manufacturing business activity index fell from 50.3 to 49 last month. Strictly speaking, this is contractionary territory for the sector's activity, but due to the greater resilience of the service sector, historically, US GDP has declined when the indicator falls below 42.3.

The price component climbed to 69.4, recording its highest value since mid-2022. Unlike the episode three years ago, this has nothing to do with the economy overheating. We recall that the University of Michigan previously noted a sharp jump in consumer inflation expectations, both one year and five years ahead. If we focus only on these indicators, the central bank should have prepared to raise the rate or actually hike it.

But at the same time, business activity and consumer sentiment are creeping down. Tuesday's data marked the employment component falling deeper into the below-50 area. The rate has been below that level for 16 of the last 18 months. This is a very worrisome signal for industrial production and is alarming relative to Friday's labour market data. In addition, the components of production and new orders have been in contractionary territory and inventories are rising. These are all signs of weakening demand. This set of components suggests the need for a rate cut.

Which side will the Fed choose? We are more accustomed to a relatively lenient Fed, which carries risks for the dollar. If the news continues in a similar vein, the USD may return to decline after stabilising and rebounding in the second half of March. This scenario will be technically confirmed if DXY slides below the previous lows at 102.8 with a near-term downside potential of 99-100. (FxPro)

News

Roy Morgan wins Media Man 'News Services Company Of The Month' award

Best Quotes Of The Day

"Blockchain is the tech. Bitcoin is merely the first mainstream manifestation of its potential." — Marc Kenigsberg

"Blockchain is the biggest opportunity set we can think of over the next decade or so." — Bob Greifeld

"Blockchain is the most disruptive technology I’ve seen in decades." — William Mougayar

"Blockchain will do for trusted transactions what the internet did for information." — Ginni Rometty

"Blockchain is the future of financial transactions." — Blythe Masters

"Blockchain technology is a way to truly democratize power and wealth." — Laura Shin

"Decentralization is the keyword for blockchain’s value proposition." — Vitalik Buterin

"The great thing about blockchain is that it has the potential to create new industries." — Patrick Byrne

"Blockchain’s transparency makes it the perfect tool for accountability." — Balaji Srinivasan

"Blockchain is the backbone of the internet of value." — Don Tapscott

News

All That Glitters Series: Special Project via Media Man Group

News Flashback

Actress Arrested in Gold Smuggling Scandal

Kannada actress Ranya Rao, stepdaughter of Karnataka DGP K Ramachandra Rao, was arrested by the Directorate of Revenue Intelligence (DRI) at Kempegowda International Airport in Bengaluru for attempting to smuggle gold from Dubai. She was found with 14.8 kg of gold bars strapped to a belt, leveraging her father's bureaucratic privileges to bypass security checks multiple times. The incident has sparked discussions on the misuse of official protocols. (Grok)

News

Bitcoin Gaming

Bitcoin gaming refers to the use of Bitcoin (BTC) and other cryptocurrencies in gaming ecosystems, typically involving online gambling, casino-style games, or play-to-earn (P2E) models where players can earn digital assets. As of March 05, 2025, this space has evolved significantly, blending blockchain technology with interactive entertainment. Here’s a breakdown based on current trends and available insights:

Types of Bitcoin Gaming

Crypto Casinos and Gambling
Platforms like http://Bitcoin.com Games, BitStarz, and http://BC.Game offer traditional casino experiences—slots, blackjack, roulette, dice, and more—where players wager Bitcoin. These sites often feature provably fair systems, leveraging blockchain for transparency. For example, http://FreeBitco.in ’s dice game lets users multiply BTC up to 4,750x with a simple HI-LO prediction mechanic. Bonuses like cashback (e.g., 25% on http://Bitcoin.com Games for deposits over $2,000) or no-wagering free spins (JackBit) are common draws.

Play-to-Earn (P2E) Games
In P2E, players earn Bitcoin or NFTs through gameplay. Titles like Satoshi’s Goal from Bitcoin Games Lab integrate the Bitcoin Lightning Network for fast, low-cost transactions, letting players score goals in a football-themed game to earn BTC. Others, like Durodogs, reward players with Bitcoin SV (BSV) and tradable NFTs for nurturing virtual pets. These games often require no initial investment, though premium features might need crypto.

Simulators and Idle Games
Games like Bitcoin Hero or The Crypto Games: Bitcoin (on the App Store) simulate crypto trading or mining. In Bitcoin Hero, you practice trading BTC risk-free with real-time market data, while The Crypto Games has you tap to "mine" in-game Bitcoin, upgrading virtual farms—though these earnings aren’t real-world cash.

How It Works

Blockchain Integration: Bitcoin gaming uses blockchain for secure, verifiable transactions. The Lightning Network, as seen in Bitcoin Games Lab, enables near-instant microtransactions, ideal for in-game rewards.

Earning Mechanics: Players might win BTC via leaderboards (e.g., Cryptofights), sell NFTs from gameplay (Axie Infinity inspired models), or cash out gambling winnings.

Accessibility: Many platforms require only a crypto wallet (e.g., ZBD Wallet) and no KYC (Know Your Customer) checks, enhancing privacy.

Current Landscape

Dominance Elsewhere: Posts on X note that Ethereum, Solana, and Polygon lead GameFi due to robust smart contract ecosystems, while Bitcoin lags in gaming infrastructure. However, initiatives like Bitcoin Games Lab and sidechain projects (e.g., Bitcoin 2024 Hackathon’s sidechain track) aim to bridge this gap.

Growth Potential: Web3 gaming projects like Blokkplay and StellarVoidGame (highlighted on X) suggest a booming sector, with Bitcoin slowly carving a niche via Lightning and sidechain innovations.

Pros and Cons

Pros: Low house edges (some crypto casinos claim 1% or less), fast payouts, and ownership of earned assets (NFTs/crypto).

Cons: Volatility affects winnings’ value, fewer game options compared to traditional platforms, and a learning curve for crypto novices.

Getting Started

To dive in, you’d need a Bitcoin wallet, some BTC (bought via exchanges like Coinbase), and a platform of choice. For gambling, try http://Bitcasino.io or Cloudbet; for P2E, explore Satoshi’s Goal or Cryptofights. Always verify a site’s reputation—stick to well-reviewed platforms with provably fair systems.

Bitcoin gaming’s blend of entertainment and financial incentive is gaining traction, though it’s still an emerging field compared to Ethereum-based GameFi. What aspect are you most curious about—gambling, earning, or the tech behind it? (Grok)

Markets

March 29, 2025

ASX futures down 91 points/1.1% to 7929
AUD -0.3% at US62.87¢
Bitcoin -3.9% to $US83,810
Dow -1.7%
S&P -2%
Nasdaq -2.7%
Gold +0.7% to $US3077.49 an ounce
Brent oil -0.6% at $US73.61 a barrel
Iron ore -0.2% at $US103.25 a tonne

Markets

March 24, 2025

ASX futuresdown 0.5 per cent or 41 points to 7945

AUD flat at US62.73¢

Bitcoin +1.2% to $US85,147

Wall St:
Dow +0.1%

S&P +0.1%

Nasdaq +0.5%

VIX -0.52 points to 19.28

Gold -0.8% to $US3022.15 an ounce

Brent oil +0.2% to $US72.16 a barrel

Iron ore -0.5% to $US100 a tonne

10-year yield: US 4.25% Australia 4.39%

Crypto Today

BTC. $85,293.57. 1.15%
ETH. $2,001.72. 0.75.
USDT. $1.0001. 0.03%
XRP. $2.4026. 0.56%
BNB. $622.52. 0.78%
SOL. $132.21. 2.11%
USDC. $1.0003. 0.02%
ADA. $0.7082. 0.59%

Media Man Group Market Feed

News, Crypto, Markets, Biz, Politics, Media

March 13/14, 2025

Crypto: just a bumpy downtrend

Market picture

The crypto market declined during the week to a total capitalisation of $2.5 trillion, a third lower than the peaks in December last year. However, towards the end of the week, we could see attempts to stabilise the market, with a rebound of $2.67 trillion.

Despite the growth attempts, only if the market breaks above its 200-day moving average will we be able to take it as a signal of a return to growth. For now, the market dynamics resemble no more than just a bumpy downtrend.

The story is similar in Bitcoin, where the bears are regaining control of the market on bounces to the $83,500 area. A 200-day moving average is near this level.

Ethereum is in a steep decline, having pulled back below $1900. At its low point, it was below $1750. It hasn't been this cheap since October 2023, losing over half of its price since its peak in mid-December.

News Background

Outflows from spot bitcoin-ETFs in the US continue for the seventh day in a row, with 19 trading sessions out of 21 already.

CryptoQuant calls the range of $75,000 - 78,000 as support, which coincides with the lower boundary of the realised price. If the quotes are fixed below this zone, the $63,000 mark may become a benchmark.

Senator Cynthia Lummis introduced an updated Bitcoin Act bill in the US Senate that would allow the government to store more than 1 million bitcoins as part of a newly created crypto reserve. The US can buy 200,000 BTC each year for five years, reallocating funds from the Fed and Treasury Department.

The US SEC has extended the deadlines for several applications to launch spot ETFs based on XRP, Solana, Litecoin and Dogecoin. Bloomberg called the regulator's move ‘expected’ and in line with standard procedures. (FxPro)

News

The crypto bounces back from extreme fear

Market picture

The cryptocurrency market bounced 2% in the last 24 hours to $2.67 trillion. So far, the situation looks like a small rebound after the collapse. We should not talk about the beginning of recovery as long as the market is below its 200-day moving average of $2.83 trillion.

Sentiment in the crypto market has shifted from dread to fear at 34. The indicator was last higher more than three weeks ago, indicating that now is a good time to buy. However, it's worth paying attention to the nervous stock market before considering investments in more volatile cryptocurrencies.

Bitcoin was climbing above $83,000 on Tuesday, hitting resistance in the form of the 200-day moving average. If a long-term trend line is repurposed as resistance, that's a worrisome bearish fact.

Ethereum ended Tuesday with growth and was trading near $1900 at the start of Wednesday, but this is a timid rebound within the steep peak the coin has been in since February 24th and the broader downtrend of the past three months.

News Background

CryptoQuant states a sharp drop in open interest in Bitcoin and Ethereum futures, suggesting a ‘leverage washout’ and a chance of market stabilisation. The Kobeissi Letter admits a wave of short position unwinding in risk assets after extreme fear levels are reached.

Clearstream, the post-trading arm of Deutsche Börse, will offer cryptocurrency settlement and custody services to institutional clients as early as next month, starting with Bitcoin and Ethereum. It then plans to add support for other cryptocurrencies and services for staking, lending and brokerage.
Glassnode notes that Solana fell below its realised price of $134 for the first time in three years. The metrics show the average cost for investors to purchase the coin.

According to Arkham Intelligence, on 11 March, bankrupt exchange Mt. Gox transferred 11,501 BTC (~$905 million) to an unknown address. Mt. Gox-related addresses hold a total of 35,915 BTC worth $2.89bn. (FxPro)

News

Gold hits fresh record

March 14, 2025

Spot gold hit a fresh record high on Friday after the US threatened higher tariffs on the EU, adding to growing concerns that levies could hamper economic growth.Prices rose as high as $US2990.02. It came after spot gold notched its biggest intraday gain this year on Thursday, rising 1.9 per cent. US President Donald Trump overnight threatened to impose 200 per cent tariffs on alcohol from the European Union, after the block set a 50 per cent tariff on American whisky.

News

Trump crypto venture has talked to Binance about doing business

March 14, 2025

World Liberty Financial, one of the Trump family’s crypto ventures, has discussed doing business with the world’s largest digital-asset exchange, Binance Holdings, according to four people with knowledge of the talks.

The exchange’s founder pleaded guilty to failing to take required measures to prevent terrorists, child abusers and entities in sanctioned nations from using its services.

It’s not clear what stage the discussions have reached or whether they’ll result in any transactions or ventures, said the people, who asked not to be named because the talks are private.

Two of the people who spoke said conversations have included the possibility of Binance developing a stablecoin – a dollar-backed cryptocurrency – with World Liberty, which President Donald Trump and his sons began promoting in September. The Trumps receive three-quarters of World Liberty’s net revenue, according to its founding documents.

In addition, representatives of the Trump family have held talks with Binance about taking a stake in its US arm, Binance US, The Wall Street Journal reported on Thursday (Friday AEDT), citing people familiar with the matter. In a post on X, Binance founder Changpeng Zhao said he has not held discussions about a Binance US deal with anyone.

Zhao pleaded guilty in 2023 to anti-money laundering failures that allowed Binance to be used by criminal groups and terrorist organisations, including Hamas.

Zhao, known as “CZ”, was released from a halfway house in Long Beach, California, in September after serving a four-month sentence. Binance paid a $US4.3 billion fine. Zhao has been pushing for the Trump administration to grant him a pardon, according to the Wall Street Journal’s report.

Three months after leaving the halfway house, Zhao met with Steve Witkoff, a co-founder of World Liberty, in Abu Dhabi at the Bitcoin MENA 2024 conference, two of the people said. Witkoff is the president’s Middle East envoy. He is slated to meet with Russian President Vladimir Putin this week as part of the Trump administration’s efforts to halt the fighting that began when Russia invaded Ukraine three years ago.

The substance of Witkoff’s meeting with Zhao in December is not clear. Talks between the crypto companies they founded have taken place since then, according to the four people with knowledge of the matter.

Witkoff did not immediately respond to a request for comment, nor did a White House spokesperson. Witkoff has said he’s in the process of divesting from his crypto assets as well as his holdings in real estate, transferring holdings to his sons to manage potential conflicts of interest.

A representative for Binance US declined to comment on Thursday, and representatives for World Liberty did not respond to requests for comment.

Zhao is still Binance’s controlling shareholder, with a net worth of $US36.9 billion ($58.7 billion), according to the Bloomberg Billionaires Index. He stepped down as its chief executive officer in November 2023, when he pleaded guilty to failing to maintain an anti-money laundering program.

Richard Teng, who replaced Zhao, said in February that he sees an opportunity for a “fresh reset and a restart” under Trump, though he did not specify any plans. (Full article and coverage via subscription to The Australian Financial Review)

News

SEC Proposes XRP as Key U.S. Financial Asset

The U.S. Securities and Exchange Commission (SEC) has released a document titled 'Comprehensive Proposal: XRP as a Strategic Financial Asset for the U.S.' This proposal explores the potential for XRP to become a key financial asset, discussing the replacement of the SWIFT system, legal clarity for XRP, and economic benefits like unlocking $1.5 trillion in banking liquidity. Discussions are also underway regarding whether XRP should be classified as a commodity, similar to Ethereum, which could influence its regulatory and market future.

News

Rumble's Strategic Bitcoin Acquisition

March 13, 2025

Rumble, a video platform and competitor to YouTube, has announced the purchase of 188 Bitcoins for approximately $17.1 million. This acquisition is part of Rumble's strategy to integrate Bitcoin into its treasury management, aiming to hedge against inflation and participate in the growing trend of corporate cryptocurrency adoption. The move reflects a broader acceptance of Bitcoin as a legitimate financial asset among companies.

March 11, 2025

Bitcoin Plunge and U.S. Crypto Reserve Plan

Bitcoin experienced a significant price drop, falling below $80,000 after reaching a high of over $84,000. This decline contributed to a market cap loss of $100 billion in the cryptocurrency sector. Concurrently, the U.S. government has announced plans for a Strategic Bitcoin Reserve, intended to hold cryptocurrency forfeited through legal actions, sparking discussions on market stability and government involvement in crypto. (Grok)

News

US confirms its critical minerals agenda as fallen miner AVZ chases an improbable African prize

A spokesman for the US State Department has confirmed that the Trump administration is interested in entering into a critical minerals partnership with the Democratic Republic of the Congo (DRC). DRC President Felix Tshisekedi is said to want to strike a deal with the US to help resolve a conflict with Rwanda-backed M23 rebels, while any deal between the DRC and the US could help Australian company AVZ Minerals. AVZ is seeking to regain control of the Manono lithium deposit, which it contends was illegally seized from it by Chinese company Zijin, and it is understood that the Trump administration would want to see AVZ regain control of at least some part of Manono as part of any deal with the DRC. (Roy Morgan Summary)

News

Markets

Australian Dollar: $0.6282 USD (down $0.0035 USD)
Iron Ore Apr Spot Price (SGX): $102.20 USD (up $1.60 USD)
Oil: (WTI): $66.61 USD (down $1.09 USD)
Gold: $2,983.88 USD (up $52.14 USD)
Copper (CME): $4.9240 USD (up $0.0815 USD)
Bitcoin: $80,472.06 USD (down 2.82% in last 24 hours)
Dow Jones: 40,813.57 (down 537.35 points)

News

Roy Morgan wins Media Man 'News Services Company Of The Month' award

News Media

Australia Peter Dutton More Crypto Friendly And Switched On Than Albanese (Media Man Group)

News

"Dutton A Genuine Contender" (Sky News Australia)

Media Man Group Market Feed

Markets

March 12, 2025

ASX futures down 72 points/0.9% to 7812
AUD +0.5% at US63.08¢
Bitcoin +7.1% to $US83,122
Dow -0.5%
S&P -0.5%
Nasdaq +0.8%
Gold +1.1% to $US2919.09 an ounce
Oil +0.6% at $US69.66 a barrel
Iron ore +0.6% at $US100.45 a tonne

Crypto, Fintech, Markets, News and Politics via Media Man

March 12/13, 2025

The crypto bounces back from extreme fear

Market picture

Bitcoin was climbing above $83,000 on Tuesday, hitting resistance in the form of the 200-day moving average. If a long-term trend line is repurposed as resistance, that's a worrisome bearish fact.

News Background

Glassnode notes that Solana fell below its realised price of $134 for the first time in three years. The metrics show the average cost for investors to purchase the coin.

News

SEC vs Ripple Case: Negotiations Underway for Settlement

Recent developments indicate that the legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) could be nearing a conclusion. Reports suggest that Ripple's legal team is currently negotiating more favorable terms related to a $125 million fine and an injunction on XRP sales to institutional investors. The anticipation of a settlement has led to increased interest and speculation within the cryptocurrency community regarding the outcome and its potential impact on XRP. (Grok)

News

U.S. Plans Strategic Bitcoin Reserve Acquisition

Senator Cynthia Lummis has reintroduced the BITCOIN Act, which proposes that the United States government purchase one million Bitcoins over five years to create a strategic reserve. This legislative move reflects a growing acknowledgment of Bitcoin as a digital asset for national economic strategy, garnering support from both traditional financial sectors and cryptocurrency advocates. Alongside this, there is an ongoing debate about the implications, risks, and potential benefits of such a reserve. (Grok)

News

Trump's Crypto Banking Deregulation

President Donald Trump is reportedly planning to sign an executive order that would reverse regulations set by the Biden administration aimed at restricting banking activities for cryptocurrency firms. This move could impact how crypto companies interact with the Federal Reserve, potentially leading to greater integration of cryptocurrencies within the traditional financial system. (Grok)

News

Rumble's Strategic Bitcoin Acquisition

News

Trump Predicts Market Surge Amid Economic Indicators

President Trump has publicly stated his belief that the U.S. financial markets are poised for significant growth, making his comments at an event with business leaders. This optimistic forecast follows recent economic indicators showing inflation cooling to levels not seen in years, despite mixed responses from markets regarding Trump's economic policies including tariffs. (Grok)

News

Ethereum's Lowest BTC Ratio Since 2020 Triggers Liquidation Risk

The Ethereum Foundation faces potential liquidation of over $100 million in assets if Ethereum's price drops to $1,100, amidst a historic low in the ETH/BTC trading ratio not seen since May 2020. This financial maneuver is part of Ethereum's strategy to manage its treasury through decentralized finance (DeFi), highlighting both the risks and innovative approaches to crypto-asset management in a volatile market. (Grok)

News

Gold funds burst out of the blocks in 2025 as returns rocket

Australian gold funds are shaping up for a bumper year as mining companies start to capitalise on record prices, helping the stocks to finally catch up to the performance of the precious metal.

Portfolio managers were left frustrated last year after a jump in production costs held back ASX-listed gold producers from riding the rally in the spot prices to record levels. The VanEck Gold Miners exchange-traded fund climbed nearly 20 per cent in 2024 versus a 38 per cent rally for the gold price in Australian dollars.

But easing cost inflation that has plagued the mining sector for the last three years and an ongoing surge in prices has seen the trend reverse course. VanEck’s Gold Miners ETF is up 17 per cent already this year while the Aussie dollar spot price has climbed 6.3 per cent.

Local fund managers are bullish that gold has much further to run after the US dollar price climbed above $US2942 an ounce for the first time and the Australian dollar gold price breached $4500 an ounce.

Victor Smorgon Partners’ Resource Gold Fund returned a chunky 13.3 per cent in January and portfolio manager Cameron Judd believes the valuations of ASX gold stocks still don’t reflect the outlook for the yellow metal.

“Gold’s performance in times of uncertainty or crisis could see it push towards $US3600,” Mr Judd said. “Despite the strong gold price performance and fundamentals supporting further appreciation, gold miners are trading at discounted valuations on the ASX.”

Wall Street’s biggest banks believe a $US3000 price tag is imminent. Citi said it was possible within the next three months, while JPMorgan has a year-end target of $US3150. Bank of America said on Thursday that gold could reach $US3500 an ounce if investment demand rises 10 per cent this year.

The unprecedented surge in the gold price has been fuelled by investors seeking safe haven assets as US President Donald Trump unleashes aggressive trade and geopolitical policies. There are fears the president will accelerate inflation, forcing central banks to raise rates in a way that damages global growth.

Victor Smorgon’s top holdings include ASX-listed Vault Minerals and the world’s largest gold miner, US-based Newmont, which recently acquired Newcrest. The fund also owns Australia’s biggest gold miner Northern Star, which agreed to buy rival De Grey in a $5 billion deal. (AFR) *Full article and coverag via subscription to The Australian Financial Review.

News

Australia

Northern Star paying top dollar for gold rival

Northern Star has offered $5 billion to buy De Grey Mining, with De Grey shareholders to vote on the offer on 16 April. De Grey is the company behind the Hemi gold prospect in Western Australia, which is thought to hold at least 11 million ounces of gold and which is slated to produce 530,000 ounces annually in its first decade of operation. KPMG, which was engaged to provide an independent assessment of Northern Star's offer, has valued DeGrey at between $4 billion and $4.79 billion, inclusive of a premium for control. It concludes that the offer is "fair and reasonable and therefore is in the best interests of De Grey shareholders, in the absence of a superior proposal". (Roy Morgan Summary)

News

March 12, 2025

Crypto market tumbles after stocks

Market picture

Crypto market capitalisation has been falling to $2.5 trillion following the rumbling fall of the US stock market. It is dipping below the peaks of early 2024 and late 2021. Previously, a similar decline would complete a corrective pullback, attracting buyers. However, the chances of such an outcome are now lower than in previous years due to the powerful influence of traditional financial companies, which has strengthened the link between the crypto market and stock dynamics.

For now, though, we can argue that there is less terror in crypto. The Fear and Greed Index is at 24 (+4 points for the day), while the low point was a week earlier at 10.

Bitcoin slipped towards $76.5K in the early hours of Tuesday but has popped above $80K at the time of writing, approaching Monday’s consolidation levels. A bearish pattern persists on the daily timeframes, which suggests a strengthening sell-off after a failure under the 200-day moving average. The scenario of a pullback to the $70-74K area still looks the most probable for us. This is all the truer as the consolidation and rebound in early March has taken the short-term oversold stance out of the market.

Ethereum is trying to find a pivot point after falling towards $1750 at the start of Tuesday. These were the lowest values in the last 17 months. On weekly timeframes, the RSI oscillator hit its lowest point since mid-2022 - near the bottom of the bear market. Does this signify an opportunity for the recklessly bold or a breakdown in the leading altcoin? We will find out in the coming days.

News Background

According to CoinShares, global crypto fund investments fell by $876 million last week after record outflows of $2.911 billion a week earlier. Investments in Bitcoin fell by $756 million; in Ethereum, by $89 million. Investments in Solana rose by $16 million, in XRP by $6 million, and in Sui by $3 million.

As a result of another recalculation, Bitcoin mining difficulty increased by 1.43% to 112.15T. The growth did not compensate for a 3.15% drop two weeks ago. However, the figure came close to the all-time high of 114.17T reached in January.

Strategy (former MicroStrategy) intends to raise $21bn through the sale of preferred shares as part of its At-The-Market program. The proceeds will be used to buy Bitcoin and other corporate purposes. (FxPro)

News

March 11, 2025

US Senator And Congressman Introduce Strategic Bitcoin Reserve Bills To Buy One Million BTC

Speaking at the “Bitcoin for America” summit, lawmakers announced their plans to create a federal bitcoin reserve that would see the U.S. buy one million BTC.

Today at the Bitcoin Policy Institute’s “Bitcoin for America” summit in Washington DC, U.S. Senator from Wyoming Cynthia Lummis announced that she is going to reintroduce her strategic Bitcoin reserve legislation in the Senate today.

“I am so pleased to announce that today I will be reintroducing The Bitcoin Act,” Senator Lummis stated. “And I’ll be joined here shortly by Senator Justice of West Virginia, who is one of the cosponsors. And we have several other additional cosponsors. And a lot of it is a result of the excitement that’s been building.” (Bitcoin Magazine). *Full article via Bitcoin Magazine

News

XRP wins Media Man 'Crypto Of The Month' award

News

Markets

Australian Dollar: $0.6317 USD (up $0.0020 USD)
Iron Ore Apr Spot Price (SGX): $100.60 USD (up $0.15 USD)
Oil (WTI): $67.70 USD (up $1.14 USD)
Gold: $2,931.74 USD (up $13.03 USD)
Copper (CME): $4.8425 USD (up $0.0500 USD)
Bitcoin: $82,880.91USD (up 0.32% in last 24 hours)
Dow Jones: 41,350.93 (down 82.55 points)

News

Roy Morgan wins Media Man 'News Services Company Of The Month' award

News Media

Australia

Peter Dutton More Crypto Friendly And Switched On Than Albanese (Media Man Group)

News

"Dutton A Genuine Contender" (Sky News Australia)

March 10, 2025

ASX futures are pointing up 69 points, or by 0.9 per cent, to 8011.

All US prices are as of 4.15pm Sunday in New York:

Bitcoin -3.7% to $US83,138
On Wall St: Dow +0.5% S&P +0.6% Nasdaq +0.7%
VIX -1.5 to 23.37
Gold -0.1% to $US2909.10 an ounce
Brent oil +1.3% to $US70.36 a barrel
Iron ore +0.3% to $US100.70 a tonne
10-year yield: US 4.3% Australia 4.4%

January 10, 2025

ASX futures up 33 points or 0.4%

AUD -0.3% to 61.98 US cents
UK pound -0.4% to $US1.2309
Bitcoin -2.9% to $US91,275 at 7.23am AEDT
US markets closed for Jimmy Carter’s funeral
Stoxx 50 +0.4% FTSE +0.8% DAX -0.1% CAC +0.5%
Spot gold +0.3% to $US2671.00/oz at 1.55pm in New York
Brent crude +1.2% to $US77.08 a barrel
Iron ore +1% to $US97.40 a tonne
10-year yield: US 4.69% Australia 4.48% Germany 2.56%
US prices as of 1.59pm in New York

News

Stock Market News via Grok

Stock Market Overview:

Recent Market Movements: The U.S. stock market saw significant volatility recently. The Dow Jones Industrial Average experienced a notable decline, marking its longest losing streak since 1974, primarily triggered by a Federal Reserve interest rate decision that was more hawkish than anticipated. This led to a spike in bond yields and a surge in the dollar value, affecting global markets.

ASX Performance: In Australia, the ASX 200 has been subject to various influences. There was a recovery in trading, with gains noted after a period of losses, particularly highlighted by a $3.4 billion sale of Foxtel to a British streaming company. The market has been navigating through economic growth expectations, potential impacts from international politics, and local economic indicators.

Global Market Trends: European markets have seen elevated bond yields impacting share openings, while the Swiss central bank reported a significant profit due to rising gold and stock prices. The global economic growth is projected at 2.8% for 2025 by the UN, indicating a stable but cautious market environment.

Sector and Company News: Inari Medical's acquisition by Stryker for $80 per share has been a significant event, setting a tone for potential M&A activities in the medical technology sector. This deal reflects strategic moves to tap into high-growth markets.

Tech and AI Influence: There's a growing trend of misinformation in AI-generated news, with Apple's AI news alerts being a recent example. This issue is becoming a focal point for investors, especially in tech stocks, as accuracy in information impacts market sentiment.

Economic Indicators and Fed Policy: The Federal Reserve's latest rate decisions continue to influence market dynamics. After lowering the overnight borrowing rate by a quarter point, the Fed's outlook on future rate cuts has led to market adjustments, showing increased uncertainty and volatility.

Investor Sentiment: There's a mix of optimism and caution among investors, with some sectors like tech and semiconductors experiencing significant movements based on company-specific news like partnerships or product launches. The market's reaction to Fed policies and global economic news is closely watched.

Current Trends on X:

Discussions on X highlight notable pre-market movements, record trading volumes, and significant corporate announcements that are driving stock market discussions. The interaction between individual stock performances and broader market trends is a key focus for the community on X.

This snapshot provides a view into the current state of the stock market, driven by economic policies, corporate news, and investor reactions to global and local events. (Grok)

Media Man: Traditional type investments in Gold and Silver looking good. Word on the street is that BTC is looking good for the next few months but may be in for a dive or crash in approx Mid March - April 2025. Lithium and Iron Ore looking good as Australian political season heats up. *Not financial advice. Op based on speaking to numerous people in and around the industry and researching dozens of papers and industry journals.

Markets

January 7, 2025

Under The Media Man Watercooler And On The Floor

ASX futures up 12 points or 0.2%

AUD +0.5% to 62.46 US cents

Bitcoin +3.7% to $US102,068 at 8.33am AEDT

On Wall St: Dow -0.1% S&P +0.6% Nasdaq +1.2%

In New York: BHP -0.7% Rio -0.4% Atlassian +1.7%

Tesla +0.2% Apple +0.7% Nvidia +3.4% Microsoft +1.1%

Alphabet +2.5% Amazon +1.5% Meta +4.2%

VIX -0.09 to 16.04 QQQ +1.2% TLT -0.5%

Stoxx 50 +2.4% FTSE +0.3% DAX +1.6% CAC +2.2%

Spot gold -0.2% to $US2635.63/oz at 1.53pm in New York

Brent crude -0.7% to $US76.00 a barrel

Iron ore -1.2% to $US97.00 a tonne

10-year yield: US 4.61% Australia 4.47% Germany 2.44%

US prices as of 4.29pm in New York

Markets

January 4, 2025

ASX futures up 23 points or 0.3% near 8am AEDT

AUD +0.2% to 62.16 US cents

Bitcoin +1.2% to $US98,195 at 8.27am AEDT

On Wall St at 4pm: Dow +0.8% S&P +1.3% Nasdaq +1.8%

In New York: BHP -0.8% Rio -0.3% Atlassian +3.3%

Tesla +8.2% Apple -0.2% Nvidia +4.7% Microsoft +1.1%

Alphabet +1.3% Amazon +1.8% Meta +0.9%

Mara +14.1% MicroStrategy +13.2% Iren +8.4%

VIX -1.8 to 16.13 QQQ +1.6% TLT -0.3%

Stoxx 50 -0.9% FTSE -0.4% DAX -0.6% CAC -1.5%

Spot gold -0.7% to $US2639.37oz at 4.51pm in New York

Brent crude +0.9% to $US76.58 a barrel

Iron ore -2.6% to $US98.30 a tonne

10-year yield: US 4.60% Australia 4.38% Germany 2.42%

US prices as of 4.54pm in New York

Yahoo! Finance

Markets

January 7, 2025

Under The Media Man Watercooler And On The Floor

ASX futures up 12 points or 0.2%

AUD +0.5% to 62.46 US cents
Bitcoin +3.7% to $US102,068 at 8.33am AEDT
On Wall St: Dow -0.1% S&P +0.6% Nasdaq +1.2%
In New York: BHP -0.7% Rio -0.4% Atlassian +1.7%
Tesla +0.2% Apple +0.7% Nvidia +3.4% Microsoft +1.1%
Alphabet +2.5% Amazon +1.5% Meta +4.2%
VIX -0.09 to 16.04 QQQ +1.2% TLT -0.5%
Stoxx 50 +2.4% FTSE +0.3% DAX +1.6% CAC +2.2%
Spot gold -0.2% to $US2635.63/oz at 1.53pm in New York
Brent crude -0.7% to $US76.00 a barrel
Iron ore -1.2% to $US97.00 a tonne
10-year yield: US 4.61% Australia 4.47% Germany 2.44%
US prices as of 4.29pm in New York

Market, Commodities and Financial News

Snapshot via Media Man

December 30, 2024

ASX futures down 29 points or 0.4% to 8228 near 6am AEDT

AUD -0.1% to 62.14 US cents

Bitcoin -1.1% to $US93,602

Dow -0.8%

S&P -1.1%

Nasdaq -1.5%

FTSE +0.2%

DAX +0.7%

CAC +1.0%

Gold -0.5% to $US2621.40 an ounce

Brent oil +1.2% to $US74.17 barrel

Iron ore -1.9% to $US98.85 a tonne

Markets and Commodities

November 1, 2024

Australian Dollar: $0.6579 USD (up $0.0009 USD)

Iron Ore Nov Spot Price (SGX): $104.10 USD (up $0.30 USD)

Iron Ore Dec Spot Price (SGX): $103.80 USD (up $0.28 USD)

Oil Price (WTI): $70.51 USD (up $1.57 USD)

Gold Price: $2,746.76 USD (down $38.62 USD)

Copper Price (CME): $4.3600 USD (up $0.0030 USD)

Bitcoin: $69,991.53 USD (down 2.58% in last 24 hours)

Dow Jones: 41,763.46 at 4.09pm NY time (down378.08 points on yesterday's close)

Business Spotlight: NVIDIA: News

Streaming Business News

Streaming News

Streaming Industry: News

Markets and Commodities

October 17, 2024

Australian Dollar: $0.6670 USD (down $0.0030 USD)

Iron Ore Nov Spot Price (SGX): $104.55 USD (down $1.85 USD)

Oil Price (WTI): $70.52 USD (down $0.39 USD)

Gold Price: $2,673.95 USD (up $12.93 USD)

Copper Price (CME): $4.3665 USD (up 0.0270 USD)

Bitcoin: $67,856.42 USD (up 1.50% in last 24 hours)

Dow Jones: 43,077.70 at 4.20pm NY time (up 337.28 points on yesterday's close)

Markets and Commodities

October 10, 2024

Australian Dollar: $0.6710 USD (down $0.0040 USD)

Iron Ore Nov Spot Price (SGX): $105.15 USD (unchanged - public holiday)

Oil Price (WTI): $73.36 USD (down $0.55 USD)

Gold Price: $2,607.14 USD (down $15.75 USD)

Copper Price (CME): $4.4080 USD (down 0.0605 USD)

Bitcoin: $60,908.07 USD (down 2.11% in last 24 hours)

Dow Jones: 42,512.00 at 4.20pm NY time (up 431.63 points on yesterday's close)

Market, Commodities and Financial News Snapshot via Media Man

October 7, 2024

ASX futures up 26 points or 0.3% to 8215 near 6am AEST

AUD +0.1% to US68.01¢

Bitcoin +1.3% to $US62,692

US 10-year yield +13bp to 3.97%

Dow +0.8% S&P +0.9% Nasdaq +1.2%

FTSE flat DAX +0.6% CAC +0.9%

Gold -0.1% to $US2653.60 an ounce

Brent oil +0.6% to $US78.05 a barrel

Iron ore -0.3% to $US108.70 a tonne

Markets and Commodities

October 7, 2024

Australian Dollar: $0.6786 USD (down $.0054 USD)

Iron Ore Nov Spot Price (SGX): $108.70 USD (down $0.05 USD)

Oil Price (WTI): $74.38 USD (up $0.67 USD)

Gold Price: $2,653.25 USD (down $2.79 USD)

Copper Price (CME): $4.5675 USD (up 0.0240 USD)

Bitcoin: $62,679.21USD (up 1.48% in last 24 hours)

Dow Jones: 42,352.75 (up 341.16 points on Thursday's close)

Markets and Commodities

October 4, 2024

Australian Dollar: $0.6840 USD (down $.0040 USD)

Iron Ore Nov Spot Price (SGX): $108.75 USD (down $0.20 USD)

Oil Price (WTI): $73.71 USD (up $2.70 USD)

Gold Price: $2,656.04 USD (down $2.97 USD)

Copper Price (CME): $4.5435 USD (down 0.1195 USD)

Bitcoin: $60,801.67 USD (up 0.09% in last 24 hours)

Dow Jones: 42,011.59 (down 184.93 points on yesterday's close)

Market, Commodities and Financial News

Snapshot via Media Man

October 4, 2024

ASX futures down 33 points or 0.4% to 8209 near 6am AEST

AUD -0.6% to $US68.44¢

Bitcoin +1.3% to $US60,954

Dow -0.6%

S&P -0.4%

Nasdaq -0.3%

FTSE -0.1%

DAX -0.8%

CAC -1.3%

Gold -0.1% to $US2657.32 an ounce

Brent oil +5.2% to $US77.77 a barrel

Iron ore +0.6% to $US108.75 a tonne

Hotel, Casino And Gaming News: U.S, Global

October 9, 2024

Hard Rock Casino Rockford has 2nd largest GGR

Illinois

Hard Rock Casino Rockford brought in the 2nd highest casino gambling revenue of any casino operating in Illinois. In September 2024, Hard Rock Casino Rockford brought in $13,717,722 in revenue. That makes Rockford’s casino the second largest in revenue in the state, behind the Rivers Casino Des Planes, which brought in $41.5 million in September. The total GGR for Illinois in September was $138.9 million with 1,140,023 admissions; the 2023 GGR was $132.1 million with 1,038,436 admissions.

News

Tropicana implosion paves way for A's stadium

Nevada

The Tropicana Casino and Resort, one of the last true mob buildings on the Las Vegas Strip, was reduced to rubble Wednesday morning. The implosion cleared land for the proposed $1.5 billion baseball stadium for the relocating Athletics, which is part of the city's latest rebrand into a sports hub.

News

Shift to attract millennials to casinos

Nevada

Innovations in gaming space and expanding technology in the postpandemic era continue to attract a new, younger generation to Las Vegas and its casinos, MGM Resorts International President Bill Hornbuckle said Tuesday at the Global Gaming Expo.

News

Allegiant Stadium to host Gold Cup soccer matches

Nevada

International soccer will once again kick off at Allegiant Stadium next summer. The Las Vegas Convention and Visitors Authority approved an event production agreement during its Tuesday board meeting, including matches in the CONCACAF Gold Cup tournament in June 2025.

News

Ten Vegas restaurants together grossed almost $200M in 2023

Nevada

Never underestimate the power of a seat on the Las Vegas Strip. Alexxa’s in Paris Las Vegas, which offers some of the best street-side dining on the boulevard, was the highest-grossing independent restaurant in the city in 2023, according to Restaurant Business. Alexxa’s brought in $28.8 million in food and drink sales, and about 600,000 meals served. The restaurant ranked No. 9 on the list…The 10 Vegas restaurants (all but one on the Strip) in the top 100 together racked up nearly $200 million in sales for 2023.

News

Revenue Surges 48% Year-Over-Year in September 2024

West Virginia

West Virginia’s sports betting revenue surged in September 2024, seeing a 48% increase compared to the same month last year…the state generated $7.1 million in revenue from a $46.4 million handle, marking the second-highest monthly revenue ever recorded for the state’s sportsbooks…the total handle—$46.4 million wagered—was down 7% compared to September 2023.

Casino And Gaming News

Macau

October 2024

Macau's gaming revenue jumps 15 percent

Macau's gaming revenue rose 15.5 percent year-on-year in September, exceeding analysts' forecast as casinos gear up for one of China's biggest holidays, which usually fuels travel to the gambling hub.

Gross gaming revenue reached 17.25 billion patacas (HK$16.73 billion) for the month, according to data released by the Gaming Inspection and Coordination Bureau. The result is compared to the median analyst estimate of a 14.2 percent increase and has returned to 78 percent of the pre-pandemic level seen in 2019.

The reporting was still lower than in the previous month, as September - when children go back to school and it being a peak typhoon month - is historically a weak season for Macau.

Expectations for the Golden Week holiday, which started yesterday, are high. Advanced bookings for hotel rooms are strong, with bigger gamblers making reservations earlier than usual, Citigroup analyst George Choi wrote in a note.

Affluent players remain able and willing to spend, and the trend seems to be accelerating, Choi said, citing a survey of gaming table performances.

Still, retail sales in Macau have shown signs of weakness. Lower-spending players appear to be betting less for the first time since China's reopening from Covid early last year, according to Choi. It is expected that this trend will ease as Beijing's recent announcement of a series of economic stimulus measures boosts disposable income, he added.

News

Global Gaming

Eklutna tribe clears land for anticipated casino

Alaska

A tribe near Anchorage has begun clearing land for the possibility that it will soon win federal approval to build a 50,000-square-foot facility with a tribal gaming operation. The casino would be the first of its kind outside Southeast Alaska. The Native Village of Eklutna has long pursued the idea of building the gaming hall on 8 acres of land…The parcel is in Birchwood, about 20 miles northeast of downtown Anchorage.

News

Julapun pushes for talks on casino complex plan

Thailand

Deputy Finance Minister Julapun Amornvivat is calling on all relevant state agencies to discuss the government's push to allow casinos to operate within entertainment complexes. He hopes the discussion can be concluded by the middle of the month. He said the discussion will focus on the mechanism for tax collection, as there are restrictions in the State Fiscal and Financial Disciplines Act that the government must adhere to.

News

Nevada

Sports Betting Revenue Grows in August

Nevada sports betting posted August gains in handle and revenue, total August volume surpassed $455.2 million, a boost from the $431.6 million bet during the same month last year. Nevada sports betting operators cleared $25 million behind a 5.5% August win rate…The 5.5% hold for NV sportsbooks is one of the lowest this year, though on par with the market’s average win rate of less than 6%.

News

Florida

Slot revenue rises to $54.9 million in August

Florida Gaming Control Commission has revealed that the state’s non-tribal casinos collected almost $54.9 million in net slot revenue in August from around $825.6 million in wagers. That’s a 1.5 percent year-on-year increase from the $54.1 million generated in August 2023. With 1,236 machines, Harrah’s Pompano Beach Casino, reported as the Isle Casino & Racing at Pompano Park, led with $9.8 million of the total.

News

Pete Rose dies at age 83

Pete Rose, baseball’s career hits leader and fallen idol who undermined his historic achievements and Hall of Fame dreams by gambling on the game he loved and once embodied, has died. He was 83. Stephanie Wheatley, a spokesperson for Clark County in Nevada, confirmed on behalf of the medical examiner that Rose died Monday. Wheatley said his cause and manner of death had not yet been determined. Rose is in the WWE Hall of Fame (Celebrity Wing) Rose was grabbed around the neck in a staged skit by the late, great, Andre The Giant. And yes, there are some WWE themed slot games, mainly found in Vegas, Atlantic City and Florida from what the foot soldiers tell us.

News

Australia

Star Sydney could be worth as little as $8m: Barrenjoey consultants; Star Entertainment’s Sydney casino has emerged as a laggard in the troubled company’s property portfolio with one estimate putting its valuation as low as $8m!

News

Atlantic City

Atlantic City hotels defeat latest class action over casino room rates

Major casino-hotel operators in Atlantic City including Caesars Entertainment and MGM Resorts have persuaded a U.S. judge to dismiss a proposed consumer class action accusing them and a revenue management platform of overcharging for room rentals.

U.S. District Judge Karen Williams in Camden, New Jersey, ruled, opens new tab on Tuesday that the consumers had failed to present enough evidence to let their price-fixing lawsuit move ahead.

Williams dismissed the consumers’ lawsuit with prejudice, meaning it cannot be filed again. The case was part of a wave of new lawsuits claiming the use of revenue management platforms that rely on rivals' data can be deemed price-fixing.

The judge’s ruling marked a second setback for plaintiffs claiming that major hotels schemed to artificially jack up room rates. Consumers in a related case have appealed a Nevada federal judge’s order dismissing their lawsuit against Wynn Resorts, Caesars and others.

In both cases, the plaintiffs alleged hotel owners fed sensitive internal information — such as real-time price and occupancy data — to a shared software platform that offered pricing recommendations.

The hotels and the software maker, Cendyn, which was also a defendant, have denied any wrongdoing.

Representatives from Cendyn, Caesars Entertainment, MGM Resorts and Hard Rock on Tuesday did not immediately respond to messages seeking comment.

The plaintiffs’ attorneys in the New Jersey case at law firms Lite DePalma Greenberg & Afanador; Burns Charest; and Susman Godfrey did not immediately respond to a similar request.

The consumers said in their lawsuit that the hotels used Cendyn’s “Rainmaker” software “as their shared pricing brain” that “does all the hard work for them.”

They said “while the AI-driven technology at issue may be fairly novel, the underlying conduct is not.” (Wires)

Casinos/Profile via Grok

Here's an overview of the latest updates and trends regarding casinos as of October 2024, based on the information available:

Global Expansion and New Developments:

Jamaica is re-opening the application period for an integrated casino-resort license, indicating interest in expanding its tourism and entertainment offerings through casino gaming.

Norfolk, Virginia has given final approval for a new casino project, which will likely contribute to local tourism and economy, reflecting a trend where cities are increasingly seeing casinos as economic development tools.

Japan and UAE are among the regions moving towards establishing casino facilities, aiming to attract tourists. However, these might be restricted to non-locals, a common practice to control potential social impacts of gambling within the local population.

New York continues to explore online gambling legislation, which could significantly expand the casino industry's reach in the state by legalizing online casinos.

Economic Performance:

Nevada, particularly Las Vegas, reported a slight decline in casino winnings for August 2024 compared to the previous year, suggesting possible market saturation or shifts in gambling preferences towards other forms like online betting.

Innovation and Entertainment:

Steve Cohen, the owner of the New York Mets, has proposed an $8 billion casino and entertainment complex next to Citi Field, illustrating how casinos are increasingly integrated with sports and entertainment complexes to offer multifaceted experiences.

Technological and Gaming Trends:

There's a noted trend towards tightening up on various casino offerings like comps, free play, and even slot machine payouts, possibly in response to increased competition from online gambling platforms and a need to adjust profit margins.

Online Gambling continues to grow, with platforms like Ignition Casino, Cafe Casino, and DuckyLuck Casino highlighted for their offerings in the U.S. This reflects a broader shift towards digital platforms, where convenience, a variety of games, and bonuses are key attractions.

Security and Social Responsibility:

Casinos globally are enhancing their surveillance and security measures, often referred to as "the eye in the sky," to combat cheating and fraud, ensuring a safer environment for all patrons.

There's an ongoing emphasis on responsible gambling, with various regions implementing measures and support systems for gamblers, recognizing the potential social and economic impacts of casino gambling.

Market Sentiment:

From posts on X (formerly Twitter), there's a mix of excitement about new casino developments and concerns over the tightening of casino offerings, suggesting a complex relationship between gamblers and the industry.

In summary, the casino industry in 2024 is witnessing expansion into new markets, integration with broader entertainment complexes, technological adaptation towards online platforms, and a strategic focus on security and responsible gambling. This reflects an industry evolving to meet new consumer behaviors, technological capabilities, and regulatory environments. (Grok)

Casino News/Profile via Grok

The term "casino" refers to a facility where gambling activities take place, which often integrates with other entertainment options like hotels, restaurants, and live shows, making it a central hub for leisure and gambling. Here's an overview based on current insights and historical context:

Evolution of Casinos: Originating from the Venetian Ridotto in 1638, casinos have evolved from exclusive gambling houses to multifaceted entertainment centers. Today, they are known for merging traditional gambling with modern technology, offering everything from classic table games to digital slots and live dealer sessions.

Modern Online Casinos: The digital age has ushered in online casinos, providing an accessible platform for gambling from anywhere. These platforms, like those highlighted in recent promotions on X, offer various incentives such as bonuses for new sign-ups, free spins, and the integration of cryptocurrencies for transactions, enhancing user engagement with promises like "deposit now and receive FREE BTC!" This reflects a trend towards digital currencies in gambling for increased security, anonymity, and efficiency.

Cultural Impact and Controversy: Casinos, both physical and online, are not without controversy. They're often discussed in terms of their societal impact, including issues like gambling addiction. A perspective shared on X questions the legality and morality of state-run casinos like Holland Casino in the Netherlands, pointing out the potential for addiction due to high stakes gambling, contrasting it with smaller community events like bingo nights.

Entertainment Beyond Gambling: Besides gambling, casinos are pivotal in the entertainment industry, hosting concerts, stand-up comedy, and even sports events. This diversification aims at attracting a broader audience, not just gamblers, enhancing their appeal as comprehensive entertainment hubs.

Global Presence: Casinos like Marina Bay Sands in Singapore and those along the Las Vegas Strip are not just gambling venues but architectural marvels and economic powerhouses, contributing significantly to local economies through tourism.

Technological and Thematic Innovation: Modern casinos incorporate advanced technology for surveillance and game fairness, alongside themes that range from historical to futuristic, creating immersive environments for visitors.

Community and Legal Perspectives: There's an ongoing debate about the accessibility of casinos to locals, especially in regions where gambling might be viewed as culturally or legally sensitive. This reflects in discussions on platforms like X, where the impact of allowing locals into casinos like in Vietnam is pondered, weighing tourism benefits against social costs.

In summary, "casino" in today's context represents more than just gambling; it's a convergence of technology, entertainment, and sometimes, societal debate. The integration of online platforms and cryptocurrencies is pushing the boundaries of traditional gambling, making it more inclusive yet sparking discussions on regulation, addiction, and societal impact. (Grok)

Cryptocurrency News via Media Man and FxPro

September 18. 2024

The crypto market gets a boost from stocks

Market Picture

The crypto market has gained 2.1% in the last 24 hours to reach $2.08 trillion. The rise in the stock market has brought buyers back to Bitcoin, which has positively impacted cryptocurrencies. The sentiment index is still in the fear zone, but at 45, it is already close to neutral territory. This shows that it is lagging stocks where sentiment has shifted to 'greed'.

Bitcoin surpassed $60K, accelerating sharply at the start of the US session. The price peaked at $61.3K before retreating to $60.4K at the time of writing.

Despite some pullback, bitcoin has broken above its 50-day moving average, suggesting significant upside potential. However, it isn't easy to rely on today's technical picture ahead of the Fed's interest rate decision on Wednesday evening. The next important level is likely to be around the $64K, where the late August high and the 200-day average are located.

News Background

JPMorgan sees bitcoin hash rate growth slowing as miner revenues remain at historic lows. Meanwhile, US Bitcoin miners' share of the network hash rate rose for the fifth consecutive month to 26.7%, an all-time high.

MicroStrategy will place $700 million in four-year unsecured convertible notes to acquire additional bitcoins and fund general corporate purposes.

According to Arkham, the Bhutanese government's bitcoin holdings amount to 13,036 BTC ($770 million), almost three times El Salvador's reserves. The country has the world's fourth-largest stockpile of BTCs, derived from mining by a sovereign wealth fund.

The crypto industry is no longer able to provide 'dopamine' to either developers or traders. That is why it is in crisis, said CryptoQuant CEO Ki Young Ju. According to him, the crypto industry is gradually turning into a 'gambling den'.

Developers Curve Finance and TON Foundation will create a platform for trading stablecoins on the TON blockchain. The new initiative will meet the growing demand for stablecoins and increase the liquidity and popularity of the network's Web3 ecosystem.

Markets and Commodities

September 11, 2024

Australian Dollar: $0.6650 USD (down $0.0010 USD)

Iron Ore Oct Spot Price (SGX): $91.00 USD (down $1.35 USD)

Oil Price (WTI): $66.31 USD (down $2.49 USD)

Gold Price: $2,516.51 USD (up $11.13 USD

Copper Price (CME): $4.1050 USD (down 0.0365 USD)

Bitcoin: $57,669.72 USD (down 0.38% in last 24 hours)

Dow Jones: 40,736.96 at 4.59pm NY time (down 92.63 points on yesterday's close)

Market, Commodities and Financial News

Snapshot via Media Man

September 11, 2024

ASX futures down 3 points or 0.04% to 7997 near 6am AEST

AUD -0.1% to 66.58 US cents

Bitcoin +1.4% to $US57,885

Dow -0.3%

S&P +0.4%

Nasdaq +0.8%

FTSE -0.8%

DAX -1.0%

CAC -0.2%

Gold +0.3% to $US2514.88 an ounce

Brent oil -3.2% to $US69.52 a barrel

Iron ore -0.8% to $US91.00 a tonne

Gaming, Hotel And Casino News: U.S

September 2024

New Jersey Internet gambling sets new record at $198M in revenue, but land casinos lag

Internet gambling in New Jersey had its best month ever in August, bringing in over $198 million in revenue even as most of Atlantic City’s land-based casinos continued to win less than they did before the COVID-19 pandemic. Figures released Monday by the New Jersey Division of Gaming Enforcement show that internet gambling brought in $198.4 million, the highest monthly total ever recorded in the state and an increase of nearly 28% from a year earlier. That was the good news for Atlantic City’s gambling industry.

News

BetMGM impresses in NFL Week One, Jefferies analyst says

BetMGM handily outperformed the field in New York state in the first week of NFL wagering, according to data published September 15 in a Jefferies Equity Research investor note penned by analyst James Wheatcroft. According to Wheatcroft’s analysis, BetMGM grew its handle 54 percent from last year, revenue 24 percent, and winning margins 8.2 percent. For the market overall, the handle grew by 14 percent, but revenue dropped 43 percent and margin was down 6.8 percent. FanDuel recorded a seven percent decrease in handle and 54 percent lower revenue.

News

llinois: Casino revenue shoots up 3.1% in August after a slow summer

Illinois casinos posted positive monthly revenue for the first time since the spring. The state’s 15 casinos combined for a win of $140 million in August, up 3.1% from July’s total of $135.8 million. Revenue totals do not include online casinos because iGaming is illegal in the Prairie State. Illinois is a leading earner for land-based revenue and sports betting handle (total amount bet). But, is nowhere to be found in the world of online casinos. The state’s legislators made two attempts to legalize IL online gaming this year, but both fell short.

News

F1 not moving the Vegas needle, Truist analyst says

“F1 stuck in neutral for now,” wrote Truist Securities analyst Barry Jonas, leading off a September 16 investor note on the subject of Las Vegas room rates. He deemed them “fairly stable but soft” into the fourth quarter. A Truist survey of Las Vegas hotel-room prices had shown growth in August followed by slowness throughout the fall. Jonas said these findings were congruent with MGM Resorts International’s forward-looking commentary during its second-quarter earnings call. Wrote Jonas, “While our survey is just one facet of the market and can change, we note continuing investor concerns around slowing growth amidst tough comparisons.”

News

August casino revenue $63 million

Virginia (results) - Lottery Commission - The Virginia Lottery released its report on casino gaming activity for the month of August 2024. There are three operating casinos in Virginia: HR Bristol, Rivers Casino Portsmouth, and Caesars Virginia. During August, gaming revenues from Virginia casinos totaled $63.1 million. Hard Rock Bristol $15.9 million, Rivers Casino Portsmouth $26.6 million, and Caesars Virginia $20.4 million. Virginia law assesses a graduated tax on a casino’s AGR, or wagers minus winnings, and $11.8 million in taxes were paid to the Gaming Proceeds Fund.

News

MGM getting more solar energy with rural Nevada solar farm

Nevada (Las Vegas) - A solar farm in the remote Nevada desert will double MGM International’s capacity to use solar energy. It entered a power purchase agreement with a utility-scale solar company to use its forthcoming facility in Lincoln County. The company is expected to begin using that boost in green energy in 2026. MGM uses 90 percent renewable energy for 11 of its Las Vegas resorts’ daytime needs, the company said, but the new solar farm and battery storage facility will power 100 percent of daytime needs and some of what’s needed for nighttime.

News

Three Strip casinos get new top exec

Nevada (Las Vegas) - Three casino properties on the Las Vegas Strip will soon have a new boss following the company departure of the trio’s former top executive. Ken Ostempowski will be assuming the role of senior vice president and general manager of Paris Las Vegas, Planet Hollywood and Horseshoe. Ostempowski currently holds similar roles overseeing The ROW Reno, a three-casino resort destination in Northern Nevada operated by Caesars. According to Ostempowski’s LinkedIn profile, he has held executive-level positions in multiple gaming markets, including Las Vegas, the Gulf Coast, the Midwest and Colorado.

News

Strip resort reveals rare tier-match offer

Nevada (Las Vegas) - For the first time since introducing a new player rewards program, a Las Vegas Strip casino is offering to upgrade gamblers’ loyalty cards to a comparable level from other casinos. The Venetian casino-hotel is launching a tier-match promotion that will allow customers to receive a Venetian Rewards card status that is on par with or better than what they currently have with another casino operator. The Venetian Resort Las Vegas’ tier-match event begins Oct. 1, according to a recent email, and will run through Jan. 1.

News

Boyd bets big on large sportsbooks even as mobile betting flourishes

Nevada (Las Vegas) - The largest sportsbook operated by Boyd Gaming Corp. may not be the place “where everybody knows your name.” But that sentiment is the reason the company (with its nine Las Vegas casinos) and other gaming operators continue to invest millions of dollars into expanding or modernizing large sportsbooks with massive viewing screens, comfortable seating areas and food and beverage options. Those expenditures happen even as more than 65 percent of Nevada’s $8 billion sports gaming industry come through mobile wagering accounts — bets made anywhere outside the casino. “A sportsbook is more than just a place to make wagers,” said Boyd Gaming Vice President of Race & Sports Bob Scucci. “At our properties, the sportsbook is the place where people come four or five times a week. It’s where they go to meet their friends and congregate.”

News

Opening sportsbook with Jay-Z at Ocean Casino, Fanatics CEO Michael Rubin explains Atlantic City’s appeal

Michael Rubin’s love for Atlantic City goes back to when he was about 12 years old. “The gambling age was 18 when I was a kid,” the once-small kid from Philadelphia recalled. “I remember when I was 12 years old, I went to an Atlantic City casino, to Caesars. It was 40 years ago. I won $2,500. I called my mom from a pay phone and said, ‘Mom, I got great news! I just won $2,500!’ She asked how, and I said, ‘I’m in a casino in Atlantic City,’ and she goes, ‘You’re grounded, get home.’ That’s my favorite story.”

News

A jobs boon from a casino at Manhattan’s Hudson Yards? Experts aren’t betting on it.

When casino giant Wynn showed off plans for its Hudson Yards West casino proposal last month, it enlisted progressive heavyweights to make the case that the venture would be a jobs bonanza for poor and working-class New Yorkers. The endorsements were full-throated and infused with hope and promise. Leaders from the NAACP, National Urban League and Win, New York City’s largest provider of family shelter and permanent supportive housing, were among the groups that said the proposal would bring significant career opportunities.

News

Maine’s first in-person sports betting bar opens in Portland

Maine’s first, in-person sports-betting bar is officially open. “Oddfellahs” opened on Market Street on Friday… The bar has partnered with Caesars Sportsbook, one of two sportsbooks authorized under Maine’s new law to run sports betting, the other being DraftKings. The founder of “Oddfellahs” says there’s more to the bar than just sports betting.

News

IIlinois Gaming Board renews Rivers Casino’s license

The Illinois Gaming Board on Thursday renewed Rivers Casino’s gaming license as well as Hawthorne Race Course’s master sports wagering license. Both renewals by the state agency came via unanimous 4-0 votes and are good for four years, with Rivers now licensed through August 2028 and Hawthorne through September of that year.

News

Bellagio removing trees as F1 prep begins on the Las Vegas Strip

The Las Vegas Grand Prix is around the corner and the Bellagio casino-hotel is days away from starting race preparations. On Monday, work crews will begin removing the trees in front of the Fountains of Bellagio along Las Vegas Boulevard to make room for the construction of the Bellagio Fountain Club (an F1 spectator area for VIPs). (Wires, A.I News)

Streaming Media Industry Disruptions Continue

Additional Mergers And Acquisitions Forecast

Live Sport Major Draw As Per Netflix

Compelling Storylines And Series Keeps Audience Coming Back For More As Per WWE

Combat Sports Storytelling And Talent Elevation As Per Dana Whites Contenders Series

Free Services With Ads Supported Has Taken Some Audience As Per Tubi

YouTube Cemented As Major Challenge To Netflix

Paramount's Quality And Iconic Movies Keep Them Valuable Commodity, Despite Bottom Line Loss

X Corp's X Platform One To Watch For Major Industry Disruption; WWE Speed Deal With WWE Just A Minor Preview Of What's On The Cards

Markets And Commodities

August 20, 2024

Australian Dollar: $0.6728 USD (up $0.0063 USD)

Iron Ore Sep Spot Price (SGX): $95.00 USD (up $2.70 USD)

Oil Price (WTI): $74.43 USD (down $2.22 USD)

Gold Price: $2,504.11 USD (down $4.07 USD)

Copper Price (CME): $4.1975 USD (up $0.0470 USD)

Bitcoin: $59,144.75 USD (down 1.09% in last 24 hours)

Dow Jones: 40,896.53 (up 236.77 points on Friday's close)

Markets And Commodities

August 19, 2024

Australian Dollar: $0.6665 USD (up $0.0055 USD)

Iron Ore Sep Spot Price (SGX): $92.30 USD (down $1.25 USD)

Oil Price (WTI): $76.65 USD (down $1.46 USD)

Gold Price: $2,508.18 USD (up $51.88 USD)

Copper Price (CME): $4.1505 USD (up $0.0100 USD)

Bitcoin: $59,792.97 USD (up 0.64% in last 24 hours)

Dow Jones: 440,659.76 (up 96.70 points on Thursday's close)

News (Australia) via Roy Morgan

Shares climb for fifth session; miners drop

August 16, 2024

(Roy Morgan Summary)

The Australian sharemarket posted another modest gain on Thursday, with the S&P/ASX 200 adding 0.2 per cent to close at 7,865.5 points. NRW Holdings rose 9.7 per cent to $3.50, Magellan Financial Group was up 7.6 per cent at $10.44. However, a fall in the iron ore price weighed on local producers of the steel input, with Fortescue down 2.9 per cent at $16.82 and Rio Tinto retreating 3.6 per cent to end the session at $108.40.

(Roy Morgan Summary)

News

Apple opens up tap-and-go but banks wary

Westpac CEO Peter King has welcomed an announcement by Apple that it will allow banks to offer payments directly from their customers' iPhones without the use of its Apple Pay platform. Apple's decision appears to have been forced upon it by a European antitrust deal in July, with Australia's banks having been involved in an ongoing stoush with Apple in a bid to force it to open up its devices to other financial services operators. King said Apple's decision could result in more competition and choice for consumers.

News

ASIC 'was warned about problems with ASX CHESS upgrade'

The Australian Securities & Investments Commission launched legal action against the ASX this week, alleging it made "misleading and deceptive" statements to investors about the status of the upgrade of the CHESS clearing and settlement system. It has been revealed that a technology vendor that was liaising with the ASX in regard to the CHESS upgrade wrote a letter to ASIC in 2021 outlining various concerns it had about the upgrade, while former Sydney Futures Exchange and ASX senior manager Phillip Galvin raised concerns over the CHESS program with the then Reserve Bank assistant governor Michele Bullock in 2021.

News

Qld govt, Rio forge deal to keep smelter viable

Rio Tinto wrote off the value of its stake in the Boyne smelter aluminium smelter in 2023, citing high energy costs. However, the resources group has committed to operating Boyne at full capacity until the end of 2040 after securing a deal with the Queensland government that is believed to include subsidised energy costs for the smelter. Premier Steven Miles says the Rio Tinto deal will help protect Queensland jobs; the Gladstone smelter directly employs more than 1,000 people and boasts annual production capacity of more than 500,000 tonnes of aluminium.

News

Virtual power plant as big as coal power station

Origin Energy has used the release of its annual results on Thursday to advise that its virtual power plant had grown to 1.385 gigawatts from 815 megawatts last year, with 1.385 gigawatts equating to the size of an average coal-fired power station. It comes a day after AGL stated that its virtual power plant had grown to 1.25GW from 1.1GW last year. Virtual power plants are 'aggregations' of customer-owned energy resources such as solar panels, home batteries and electric vehicle chargers; they can be commandeered by an energy retailer with the customer's permission during grid 'squeezes' to avert blackouts and moderate prices.

News

KPMG partner income slides 9pc to $650,000

Consulting firm KPMG has reported 2023-24 revenue of $2.2 billion, down 3.6 per cent, while average partner income was down nine per cent to $650,000; KPMG's average partner income compares to average partner income of about $814,000 at EY and between $430,000 and $516,000 at Deloitte. Like its consulting firm rivals, KPMG has been hit by the downturn in demand for advisory services from the public sector, while private sector demand is down as a result of companies cutting costs in response to higher interest rates.

News

Judge slams Victoria over class actions

NSW Chief Justice Andrew Bell has told the Association of Litigation Funders that 2020 legislation in Victoria that introduced contingency fees had "skewed" the market for class actions. He noted there had been a blanket prohibition on contingency fees prior to then, and that the new class action regime in Victoria had overridden both solicitor conduct rules and the Legal Profession Uniform Law (LUPL) of 2015. Bell claims the recent increase in the number of class actions being filed in Victoria was not because of the quality of its judges but because of the opportunity for solicitors "to take a slice of the outcome of litigation".

News

Telstra rejigs game plan

Telstra is to ask the federal government to reconsider the so-called universal service obligation, which requires it to connect Australians through a copper network at a time when the use of home phones is on the decline. The network is still used for home phones and some NBN connections, but Telstra is suggesting it could be replaced in some areas with quicker satellite connections or other technologies that make it easier to download data. Telstra's call for the universal service obligation to be changed came as it reported its latest annual results, with its net profit for the 12 months to June 30 down 13 per cent to $1.79 billion.

News

'Woefully short': Dearth of cyber security specialists leaves Australians vulnerable

A report by security firm StickmanCyber claims Australia has just 11,300 cyber security workers spread across hundreds of thousands of businesses, with StickmanCyber CEO Ajay Unni saying the number of cyber security specialists is "woefully short" of what is required to combat modern cyber security threats. StickmanCyber's report also found that just 16 per cent of cyber security workers in Australia are female, while the majority of them are migrant workers; its report comes at a time when Australia has experienced a big increase in cyber attacks on companies in recent times, with those on Optus and Medibank two of the more notable ones.

News

IV scandal: excuses are fluid

The Therapeutic Goods Administration is claiming that there is a global shortage of intravenous fluids such as saline, but health authorities in other parts of the world do not seem to be having the same problems as Australia, where hospitals are experiencing a severe shortage of IV fluid bags. People from within the pharmaceutical industry contend the IV crisis is due to the lack of a functional national procurement policy, with state governments each having contracts for the supply of saline fluid. For its part, the TGA states that the federal government is working with state and territory governments, and with private hospitals, to minimise any impact on patient care.

News

Bookies join call to ban gambling ads on jerseys

Bookmaking firms Sportsbet, Pointsbet and Entain contend that excluding wagering companies' logos on jerseys and signs at stadiums from a clampdown on gambling advertising on TV is "illogical". Sportsbet is the biggest online bookmaker and the sector's largest advertiser, and it is the first time it has publicly backed a ban on wagering logos on jerseys and signs. Their comments come as the federal government continues to come under attack for its apparent reluctance to implement a complete ban on gambling advertising, as recommended by a bipartisan inquiry led by late Labor MP Peta Murphy.

News

Casinos to get cash reprieve in NSW after carded play delay

A spokesperson for NSW Gaming Minister David Harris has confirmed that The Star Sydney and Crown Barangaroo casinos will be able to accept cash bets of up to $5,000 for another 12 months, instead being limited to $1,000 from Monday as was previously planned. The spokesman also said that Harris had agreed to extend The Star's deadline to roll out mandatory carded play across its operations until 19 October, with the extension of the deadline by a month coming as a result of a request from new Star CEO Steve McCann.

News

United States

Signed up to Disney+? Disney says you can never sue the company, even for wrongful death

An American man is suing Walt Disney Parks and Resorts over the death of his wife, with Jeffrey Piccolo claiming she died as a result of an allergic reaction to food served at an eatery in Walt Disney World Resort. Disney is seeking to have the case thrown out because Piccolo had previously signed up to a free trial of Disney+, and that in doing so he had agreed never to sue it. His lawyers have described Disney's argument as "absurd", while they also argue while he may have agreed to its term, he did not do so on behalf of his wife or her estate.

News

Live music industry on its knees and pleading for a government lifeline on insurance costs

An increasing number of Australian music festivals are being cancelled or deferred, with many citing increased insurance costs as one of the main reasons for their action. Live music venues are also being hit by higher insurance costs, with one Adelaide pub reporting an increase in its public liability insurance from $10,000 to $40,000 as a result of it offering live music. The National Cultural Policy Senate inquiry used its interim report to recommend that the federal government work with festival providers and the insurance sector to reduce insurance premiums for festivals, as well as investigating options to ensure "access to insurance is available to small and medium operators".

News

Mining And Resources

Pilbara takes $560m punt on Brazil lithium project

Lithium producer Pilbara Minerals will diversity its operations beyond Western Australia with a takeover bid for Latin Resources, which owns the Salinas project in Brazil. Pilbara Minerals is offering 0.07 of its shares for every share in Latin Resources, valuing the latter at about $560m. Pilbara Minerals CEO Dale Henderson has defended the takeover bid for Latin Resources, amid doubts among some analysts about the merits of the deal. Kaan Peker from RBC Capital Markets contends that there may be few synergies given the distance between WA and Brazil.

News

Indonesia learns a lesson from cosying up to China

Chinese investments have helped Indonesia to become the world's dominant producer of nickel, which is a key mineral in the production of electric vehicles. However, the Chinese investment in its nickel sector makes it difficult for Indonesia to access the tax credits available under the US Inflation Reduction Act; tax credits are not available to minerals produced by companies with more than 25 per cent Chinese ownership, with China viewed as a 'foreign entity of concern". Another problem that Indonesia has in regard to accessing the IRA tax credits is that it does not have a free trade agreement with the US, which is a requirement for its nickel to be IRA-compliant.

News

Inquiry leaves door ajar for WA gas exports

A Western Australian parliamentary inquiry has concluded that the state's onshore gas producers should be permitted to export their output, so long as the sector can address a looming domestic shortage, with WA facing a shortfall of up to 30 per cent of its total gas demand in the next decade. Onshore gas producers have argued that being able to export gas would make it easier for them to access greater international investment, and produce more domestic gas, while Wesfarmers and other large gas consumers oppose overturning the current ban on onshore producers exporting their gas.

News

Chinese cuts drive iron ore price to 21-month low

The price of iron ore has fallen to its lowest point since November 2022, being at $95.25 a tonne, with the price of iron ore having topped $US144 on 3 January. It comes after the National Bureau of Statistics of China revealed that steel production in July was 82.94 million tonnes, down nine per cent on the previous month, while production for the first seven months of 2024 was down 2.2 per cent on the same seven months in 2023; China Baowu Steel, the country's largest steel maker, has warned the sector faces a crisis more severe than the downturns of 2008 and 2015.

(Roy Morgan Summary)

Mining, Energy and Resources: Australia and Oceania

August 9, 2024

News

Legal fees for BHP class action top $680m

Law firm Pogust Goodhead is representing about 600,000 participants in a class action over Brazil's Samarco iron ore tailings dam collapse in 2015. The firm estimates that its legal fees could be around Stg250m, while total legal fees arising from the case could exceed Stg350m. Documents filed with the UK's High Court show that BHP's share of the legal costs have been forecast at around Stg108m; however, this is just for the first stage of the trial, and BHP will face a further legal bill if the resources group is found liable for the disaster in Brazil. Samarco is a joint venture between BHP and Vale.

(Roy Morgan Summary)

News

Win for Fortescue in private eye battle

Federal Court judge Brigitte Markovic has dismissed an application by Element Zero's founders to access the instructions that Fortescue gave to private investigators who had been hired to put them under surveillance. Fortescue alleges that its former employees Bart Kolodziejczyk, Bjorn Winther-Jensen and Michael Masterman used its intellectual property to develop Element Zero's rival green steel technology. Justice Markovic ruled that the instructions given to the private investigators are likely to be subject to legal professional privilege.

News

Creasy in talks for Macquarie's $148m debt at miner Calidus

Macquarie Bank has a four per cent stake in Calidus Resources, while it holds $148m of the failed gold producer's debt. Sources have indicated that Macquarie has finalised the terms of a deal to sell its Calidus loan at a price that is at or near its carrying value. The buyer of the debt is believed to be Yandal Investments, the private investment vehicle of Western Australian billionaire Mark Creasy. His deal to acquire Macquarie's debt could give Creasy an edge over other potential bidders for Calidus or its assets, which include the Warrawoona gold project and a 40 per cent stake in the Pirra lithium joint venture.

News

Win for Whitehaven, MACH as court rejects climate bid

The High Court has dismissed the Environment Council of Central Queensland's application for special leave to appeal the Federal Court's decision to allow two NSW coal mine extension projects to proceed. The court had ruled in May that federal Environment Minister Tanya Plibersek had acted lawfully in handling the environmental approvals process for the Whitehaven Coal and MACH Energy projects. The ECCQ had initiated legal action against the proposed mine expansions in 2022.

(Roy Morgan Summary)

Mining, Energy and Resources: Australia and Oceania

August 7, 2024

News

Liontown wants lithium breaks as prices teeter

Association of Mining & Exploration Companies CEO Warren Pearce says it is holding talks with the Western Australian government with regard to royalty relief for lithium producers. The price of spodumene has fallen to $US870 ($1,337) per tonne, and Liontown Resources CEO Tony Ottaviano contends that the government should intervene in order to avert a similar crisis to the rout that hit the nation's industry. He has also suggested that the federal government should expand its production tax credit scheme to include the upstream processing of spodumene.

(Roy Morgan Summary)

News

MinRes job cuts add to thousands lost in WA's mining sector route

A spokesman for Mineral Resources has confirmed that the iron ore and lithium producer will reduce its head count, although the bulk of the job cuts will be at its Perth head office. Mineral Resources has not disclosed the extent of the job losses, although it is believed to be about 100. The move follows the company's recent decision to mothball its high-cost iron ore mines in Western Australia's Yilgarn region and a delay in the expansion of the Wodgina lithium mine. WA's mining sector has already been hit by massive job losses in the nickel industry in 2024.

(Roy Morgan Summary)

News

Iron ore 'must learn from nickel pain'

Dino Otranto, the CEO of Fortescue's mining arm, has warned that Australia risks missing out amid the global shift to 'green' steel'. He has called for increased collaboration between industry and government to ensure that the nation capitalises on the decarbonisation of the steel industry. He adds that the demise of Australia's nickel industry provides a timely warning for iron ore producers.

News

Jilted ERA heads to court over Jabiluka mine axing

Energy Resources of Australia wants the Federal Court to undertake a judicial review of the Northern Territory government's decision to not renew its mining lease for the Jabiluka uranium deposit. ERA contends that it was denied "procedural fairness and natural justice" in the decision to permanently ban mining at Jabiluka. Amongst other things, ERA has questioned the haste with which federal Resources Minister Madeleine King advised the NT government to reject an extension of the mining lease, which is slated to expire on 11 August.

News

Newmont fights $130m 'restructuring' tax bill

The Australian Taxation Office contends that Newmont Corporation owes it some $132.6m in capital gains tax liabilities arising from a restructuring in 2011. The tax dispute is believed to centre on Newmont's decision to consolidate ownership of its local mines under its Newmont Australia subsidiary; this included a transaction in which two of the mining giant's North American subsidiaries sold their holdings in Newmont Australia back to it. Newmont contends that the transfer was an internal restructure rather than a share sale, and it should therefore not attract capital gain taxes

News

Watchdog threatens 'critical' Browse

Woodside Energy's CEO Meg O'Neill has emphasised the importance of the company's Browse LNG project. She contends that Browse is the only gas field of sufficient size to meet the forecast demand for energy over the near-term. The Browse project's future is under scrutiny following a preliminary ruling from Western Australia's Environmental Protection Authority that it presents a "unacceptable risk" to marine ecology. The EPA is expected to make a final recommendation on the project in 2025, although it can be overruled by the federal government. O'Neill has also defended Woodside's deal to acquire a low-carbon ammonia project in the US.

(Roy Morgan Summary)

Market, Commodities and Financial News

Snapshot via Media Man

July 29, 2024

ASX futures up 60 points or 0.8% to 7938 near 3am AEST

AUD +0.2% to 65.48 US cents

Bitcoin -0.6% to $US67,636

Dow +1.6%

S&P +1.1%

Nasdaq +1%

FTSE +1.2%

DAX +0.7%

CAC +1.2%

Gold +1.0% to $US2387.19 an ounce

Brent oil -1.5% to $US81.13 a barrel

Iron ore +2.5% to $US102.40 a tonne

Bitcoin drops 10pc as rout deepens

August 5, 2024

Bitcoin is under pressure from a bout of risk aversion in global markets that saddled the largest digital asset with its heftiest weekly loss since the collapse of the FTX exchange in 2022.

The original cryptocurrency sank more than 10 per cent at one point before paring some of the decline to trade at $US54,333 ($83,590). The token lost 13.1 per cent in the seven days through Sunday, the most since the FTX bankruptcy period. Smaller tokens such as ether and meme-crowd favourite dogecoin also nursed heavy losses.

The declines come as a global stock sell-off intensifies, reflecting concerns about the economic outlook and questions over whether heavy investment into artificial intelligence will live up to the hype surrounding the technology. Geopolitical tension is rising in the Middle East, adding to investor skittishness.

Bitcoin exchange traded funds in the US suffered their largest outflows in about three months on August 2. The digital asset has also tumbled through its 200-day moving average price.

The latter technical chart pattern “opens the way for a deeper pullback” towards $54,000, Tony Sycamore, market analyst at IG Australia, wrote in a note.

Bitcoin has been buffeted by a range of factors since hitting a record of $US73,798 in March, including shifting political fortunes in the US as pro-crypto Republican Donald Trump and his Democratic opponent, Vice President Kamala Harris – who has yet to detail a digital-asset policy stance – lock horns in the presidential race. (AI News, Wires)

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Elon Musk’s X Files Antitrust Suit Against Global Advertising Alliance

August 6, 2024

Elon Musk’s social media platform X has launched a significant antitrust lawsuit against the Global Alliance for Responsible Media (GARM) and several of its member companies, alleging an illegal ad boycott that targeted the platform. The lawsuit, filed in Texas, is aimed at GARM, its parent firm World Federation of Advertisers (WFA), and members including CVS Health, Mars, Orsted and Unilever.

In an open letter to advertisers, X CEO Linda Yaccarino highlighted the reasons behind the lawsuit, stating that it was a direct response to GARM’s actions which allegedly cost the company billions of dollars. “This is not a decision we took lightly, but it is a direct consequence of their actions,” Yaccarino wrote. “The illegal behavior of these organizations and their executives cost X billions of dollars” per The New York Post.

The lawsuit is seeking trebled compensatory damages and injunctive relief, according to a complaint viewed by The New York Post. GARM, led by Robert Rakowitz, is an initiative of the WFA, which represents many of the world’s largest companies and ad organizations, including Disney and Coca-Cola. Its members control 90% of global marketing spending, nearly $1 trillion per year.

Yaccarino emphasized that the issue extends beyond financial damages. “This case is about more than damages — we have to fix a broken ecosystem that allows this illegal activity to occur,” she added.

According to The New York Post, the suit argues that the boycott undermined the marketplace of ideas by financially harming certain viewpoints over others. (Credit: PYMNTS)

Full article and coverage via PYMNTS

https://pymnts.com/cpi-posts/elon-musks-x-files-antitrust-suit-against-global-advertising-alliance/

PYMNTS is a former Media Man 'Business News Outlet Of The Month' award winner and finalist

News

Elon Musk takes GARM, several companies to court over alleged advertising boycott of X outlined in bombshell report

August 7, 2024

Tech billionaire Elon Musk has taken several companies and an advertising alliance to court over allegations of a "boycott" of X.

Elon Musk has waged “war” against advertisers as his social media platform X filed an antitrust lawsuit against a global ad alliance and several major companies, accusing them of illegally boycotting the site.

X filed a suit in a federal court in Texas against the World Federation of Advertisers (WFA), the Global Alliance for Responsible Media (GARM) and its members CVS Health, Mars, Orsted and Unilever.

The suit comes after a report from the US House of Representatives Judiciary Committee found GARM and its members “directly organised boycotts” and employed other indirect tactics to target disfavoured “platforms, content creators” and news organisations to demonetise them.

It alleges that GARM’s boycott led advertisers to pull money from X under the guise of “brand safety” concerns.

X’s CEO Linda Yaccarino argued this tactic hindered users on the social media platform from accessing a wide breadth of ideas by funding alternative viewpoints.

“The consequence - perhaps the intent - of this boycott was to seek to deprive X’s users, be they sports fans, gamers, journalists, activists, parents or political and corporate leaders, of the Global Town Square,” she wrote.

“To put it simply, people are hurt when the marketplace of ideas is undermined and some viewpoints are not funded over others as part of an illegal boycott.”

Mr Musk shared his colleague’s statement to the platform and boldly declared: “We tried peace for 2 years, now it is war.”

He later encouraged “any company who has been systematically boycotted” to file a suit.

Following his post, video sharing platform Rumble joined Mr Musk’s lawsuit, claiming it has also been impacted towards GARM’s alleged skew away from right wing voices and ideologies.

The platform announced its move on X where it accused GARM of being “a conspiracy to perpetrate an advertiser boycott of Rumble and others, and that's illegal”.

Since Musk took over the social media platform in October 2022, X has suffered a serious dive in ad dollars with the platform taking in US$2.5 billion in 2023, according to Bloomberg.

This was down from the US$1bn it was bringing in every quarter of 2022.

Musk triggered controversy again in November 2023 when he endorsed an anti-Semitic conspiracy theory that Jewish communities push “hatred against whites”.

The X owner responded: “You have said the actual truth,” sparking an advertiser exodus that was reported to have lost the company as much as $75m, per The New York Times.

He made headlines again in the same month after blasting advertisers boycotting the social media platform, boldly declaring: “Go f**k yourself”.

“If somebody is going to try to blackmail me with advertising, blackmail me with money, go f**k yourself. Go f**k yourself. Is that clear? I hope it is,” he said. (Sky News Australia)

Full article and coverage via Sky News Australia

https://www.skynews.com.au/business/media/elon-musk-takes-garm-several-companies-to-court-over-alleged-advertising-boycott-of-x-outlined-in-bombshell-report/news-story/7bac6243aada770042d14ca84afc23e7

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Market, Commodities and Financial News Snapshot via Media Man

August 7, 2024

Australian Dollar: $0.6520 USD (up $0.0024 USD)

Iron Ore Sep Spot Price (SGX): $102.85 USD (down $0.70 USD)

Oil Price (WTI): $72.96 USD (down $1.02 USD)

Gold Price: $2,389.45 USD (down $19.96 USD)

Copper Price (CME): $4.0095 USD (up $0.0085 USD)

Bitcoin: $56,485.71 USD (up 3.10% in last 24 hours)

Dow Jones: 38,997.66 at 5.02pm NY time (up 294.39 points on yesterday's close)

(Roy Morgan Summary)

Markets and Commodities

July 18, 2024

Australian Dollar: $0.6730 USD (unchanged)

Iron Ore Aug Spot Price (SGX): $105.05 USD (down $2.10 USD)

Oil Price (WTI): $83.10 USD (up $2.28 USD)

Gold Price: $2,458.69 USD (down $10.15 USD)

Copper Price (CME): $4.4165 USD (down $0.0405 USD)

Bitcoin: $64,196.81 USD (down 0.80% in last 24 hours)

Dow Jones: 41,198.08 at 4.20pm NY time (up 243.60 points on yesterday's close)

(Roy Morgan Summary)

Donald Trump Bitcoin Conference Keynote
https://youtube.com/watch?v=9UxAUryUKXM&ab_channel=BitcoinMagazine

Donald Trump delivers his keynote address at the Bitcoin Conference 2024. In a groundbreaking speech at the Bitcoin 2024 conference in Nashville, former President Donald Trump outlines his vision for a crypto-friendly America. Trump promises to end the current administration's "anti-crypto crusade" and positions himself as the first major party nominee to accept Bitcoin donations. He pledges to fire SEC Chairman Gary Gensler, create a Presidential Crypto Advisory Council, and keep all government-held Bitcoin. Trump's address covers a wide range of topics, from energy policy to inflation, connecting them all to the future of Bitcoin and cryptocurrency in America. He vows to make the U.S. the "crypto capital of the planet" and a "Bitcoin superpower," promising regulatory clarity and economic prosperity for the industry.

This video is a must-watch for anyone interested in the intersection of politics and cryptocurrency. Lower your time preference and lock-in your Bitcoin 2025 conference tickets today!!! (Credit: Bitcoin Magazine
@BitcoinMagazine
/Bitcoin 2024)

Click Here: http://b.tc/conference/2025 #djt

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NEWS: DONALD TRUMP TO SPEAK AT BITCOIN 2024 CONFERENCE IN NASHVILLE
https://bitcoinmagazine.com/business/donald-trump-to-speak-at-bitcoin-2024-conference-in-nashville

Bitcoin Magazine YouTube
https://youtube.com/@BitcoinMagazine

Business News: Australia

(Roy Morgan Summary)

ASX to fall as investors await big tech earnings

July 22, 2024

Futures pricing suggests that Australian equities will shed about 0.8 per cent when the market opens on Monday, following a negative lead from Wall Street. A dearth of local economic data means that investors will be focused on offshore markets over the coming week; the quarterly reporting season in the US is likely to attract scrutiny, with two of the seven major technology companies set to release their latest financial results in coming days. The S&P/ASX 200 fell 0.8 per cent to 7,961.6 points on Friday.

(Roy Morgan Summary)

News

Lithium stocks targeted by short sellers

Australian Securities & Investments Commission data has revealed that seven companies on the ASX had more than 10 per cent of their shares reported as shorted as at 12 July, compared to just one in the previous year. Companies involved in the mining of lithium and other materials used in the manufacture of electric vehicles account for seven of the 10 most shorted stocks on the ASX, with 21.06 per cent of Pilbara Minerals shares reported as shorted. Oscar Oberg from Wilson Asset Management says Pilbara Minerals' reported short position is unheard of; he adds that Pilbara Minerals is being shorted because demand for electric vehicles is not as strong as had been forecast.

News

Mortgage cliff turns into a subsiding wave

PEXA Group's chief economist Julie Toth believes that the rush for Australians to refinance their mortgage loans has peaked. She adds that rather than a 'mortgage cliff', the nation has experienced only a 'wave' as borrowers have shifted their loans to variable interest rates after their fixed-loan period expired. Toth adds that there has been a slight increase in mortgage arrears and distressed sales in response to the Reserve Bank's aggressive monetary policy tightening cycle; she expects arrears to remain stable if there are no more interest rate increases.

News

CSR's insulation price rise 'could be gouging'

Insulation distributor Consolidated Energy alleges that building materials group CSR misused its market power to 'gouge' suppliers with huge increases in the price of insulation; it is seeking internal documents and board papers in order to prove its claim. Consolidated Energy is asking the Federal Court to grant its request that CSR be required to hand over information relating to price increases between June 2021 and June 2022; Consolidated Energy alleges that CSR was limiting supply to distributors and imposing big price increases in order to benefit its own business.

News

Coal boss: use gas to ease the transition

Data from the Australian Energy Market Operator has revealed that no renewable energy project that was in the commissioning stage reached full output in June. This was despite an increase in renewable energy projects being ready to come online, prompting calls from Delta Electricity CEO Richard Wrightson for gas to be included in the federal government's Capacity Investment Scheme. With Delta being the owner of the Vales Point coal plant in NSW, Wrightson says gas is the only technology available now that can solve the firming problem, but it is the only technology that is being supported by the government's scheme.

News

Fortescue now marching 'to the one beat'

July 20, 2024

(Roy Morgan Summary)

Andrew Forrest surprised investors at its 2020 AGM when he outlined a vision for the iron ore mining company that would see it become a green energy behemoth. He said Fortescue would be targeting production of as much as 235 gigawatts or renewable energy, more than five times the capacity of Australia's National Electricity Market at the time. However, Forrest has now conceded it cannot achieve its target of producing 15 million tonnes of green hydrogen a year by 2030 because of soaring energy costs, although he contends Fortescue's green energy dream is still alive. Fortescue will now bring its iron ore and green energy units back together, with Forrest saying that all of the company are "all marching in the same direction, to the same drum beat".

(Roy Morgan Summary)

Shares In Hot Fintch Company Block Fall After Latest Hindenburg Report
(Chartr)

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July 8, 2024

Crypto Bargain-hunters are back

Market picture

Bargain hunters are showing themselves in full force in crypto. Cryptocurrency market capitalisation rose 3.6% in 24 hours to $2.11 trillion, climbing back to the top of the range of the past five days. It will take the market to rise another 2% before we can say that the bear attack has been repelled. Until then, we can only talk about consolidation after the sell-off.

Bitcoin rebounded to $57.3K after a couple of dips to $54K, sticking to its descending channel that has been in force since March, but the price is very dangerously stuck at the bottom of this corridor. This situation makes us fear an acceleration of the sell-off with a potential target in the $50-51K area, where the crypto market was stagnant in February.

Ethereum trades at $3050 and remains below the 200-day moving average but has not given up trying to climb higher. Here, ETH has a strong support line, which also attracted buyers in April and May. More on the bulls' side is that the RSI on daily timeframes rises from oversold territory. These are promising technical signals, but the sustained sell-off from the US and German governments and the overhang of selling from Mt Gox lenders is clearly undermining the confidence of too many buyers.

News background

According to CoinShares, investments in crypto funds rose by $441 million last week for the first time after three weeks of outflows. Bitcoin investments increased by $398 million, Solana by $16 million, Ethereum by $10 million.

Recent price declines, driven by potential selling pressure from Mt Gox and the German government, were probably seen as a buying opportunity. Inflows into BTC accounted for only 90% of the total inflows, as investors chose to invest in a much broader set of altcoins. The most notable of these was Solana, which has received $57 million in investments since the beginning of the year, making it the most efficient altcoin in terms of flows, CoinShares noted.

German authorities continue to transfer Bitcoins to exchanges. On 8 July, two 250 BTC transfers were made to Coinbase and Bitstamp platforms. Transactions of 700 BTC and 500 BTC followed to unidentified Arkham numbers.

The Bitstamp exchange promised to distribute the payments from Mt Gox "as soon as possible," despite having a 60-day deadline. So far, only Japanese BitBank and SBI VC Trade addresses have been distributed coins. The three remaining recipients - Bitstamp, Kraken and BitGo - are still awaiting their turn. The trustee has 94,771 BTC (~$5.4bn) left to send.

Bitfinex points out signs of a potential end to the market correction. Short-term investor selling is potentially close to exhaustion. Meanwhile, the funding rate for perpetual BTC contracts has turned negative for the first time since 1 May.

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Donald Trump to Headline Bitcoin 2024 Conference in Nashville

July 11, 2024

Former President Donald Trump has been confirmed as a keynote speaker at the upcoming Bitcoin 2024 conference set to take place in Nashville, Tennessee.

This news comes as a significant development for the event, known for its major industry announcements and influential speakers. The conference, which has previously been hosted in Miami, has established itself as a platform for groundbreaking news within the cryptocurrency space.

Bitcoin 2021, the inaugural conference, made headlines when El Salvador officially declared Bitcoin as legal tender. The subsequent Bitcoin 2022 and Bitcoin 2023 conferences continued the trend of notable moments, including a powerful speech by U.S. Presidential candidate Robert F. Kennedy Jr. in support of the Bitcoin industry.

This year, the shift of the conference location from Miami to Nashville signifies its increasing prominence on the global stage. With two former U.S. Presidential candidates, Robert F. Kennedy Jr. and Donald Trump, slated to speak, Bitcoin 2024 is anticipated to be a pivotal event that could potentially impact the future trajectory of Bitcoin and cryptocurrency policies in the United States.

Donald Trump’s participation in the conference is especially noteworthy considering his recent engagements with the Bitcoin community. Earlier this year, Trump met with prominent U.S. Bitcoin miners, including representatives from CleanSpark, where he reiterated his support for Bitcoin mining both domestically and internationally. In a statement, Trump pledged to prioritize the development of Bitcoin and crypto initiatives in the United States and safeguard the rights of the nation’s 50 million crypto holders if re-elected as president.

As Trump embarks on his presidential campaign, his alignment with the Bitcoin industry stands in contrast to the position of his potential rival, President Joe Biden, who has shown less enthusiasm towards the cryptocurrency sector. While Biden’s participation in Bitcoin 2024 remains unconfirmed, the event could underscore the divergent approaches of the two candidates towards Bitcoin and its implications for U.S. policies.

For additional details on the Bitcoin 2024 conference and to secure a discounted ticket using a promotional code, interested individuals can visit the official event website. Bitcoin Magazine, a subsidiary of BTC Inc, the organizer of the largest Bitcoin conference, The Bitcoin Conference, will be overseeing the event.

Websites

Bitcoin 2024
https://b.tc/conference/2024

Bitcoin Magazine
https://bitcoinmagazine.com

July 1, 2024

Buyers failed to pick up on the crypto market

Market picture

The crypto market has been enjoying an influx of buyers since Saturday, with a visible acceleration on Monday. Over the past 24 hours, capitalisation has risen 3.6% to $2.33 trillion. Last week’s drop in the crypto sentiment index to 30 (fear zone) reversed the price twice, showing that the market is dominated by a ‘buy the dip’ pattern.

Bitcoin is trading near $63.3K, adding 5% since Saturday morning and reaffirming the importance of support at 61.8% of the Jan-March rally. From another perspective, Bitcoin is adding and bouncing off the lower boundary of the downward channel. Likely, the price is now moving towards the upper boundary at $67K. However, cautious buyers may prefer to wait for confirmation with the price rising above $72-73K - the pivot area of the last four months - which would be confirmation of the start of a new impulsive wave of growth.

Bitcoin ended June down 8.5% to $61.9K. In terms of seasonality, July is considered quite successful for BTC, adding eight times (22.3% on average) out of the last 13 and declining on five occasions (-7.8% on average).

News background

In terms of on-chain analysis, quotes have crossed the realised price level of short-term holders at $62,000, which historically can act as support during corrections in bull markets.

According to Arkham data, German authorities sent another 595 BTC worth ~$36.6 million to crypto exchanges on 26 June. Authorities began actively moving the cryptocurrency on 19 June, when some of it first hit the Kraken and Bitstamp exchanges.

Bitwise forecasts net inflows into spot ETH-ETFs in the US of $15bn in the first 18 months. Bloomberg expects trading in the new product to start on 2 July.

Solana Foundation has launched tools that enable it to turn any website or app into a gateway for cryptocurrency payments and other blockchain transactions.

On 26 June, the Blast development team completed the first phase of an airdrop, distributing 17 billion BLAST tokens (17% of the total issuance). Blast is an Ethereum-based layer 2 (L2) network that was launched in November 2023 by Blur founder under the pseudonym Pacman. In terms of blockchain value locked (TVL), the Blast ecosystem is ranked sixth in the DeFi Llama ranking with a value of $1.58bn.

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Euro, Gold, Crypto and more via Media Man and FX Pro

A strong current account surplus may not help euro

The eurozone's current account surplus climbed to a six-month high of 31.9bn in December. Analysts, on average, had expected a decline to 20.3 bn from 22.5 bn the previous month. The current level was seen in the eurozone during the relatively benign pre-Covid period and sometime before Natural Gas prices spiked in the second half of 2021.

The normalisation of the surplus is good news for the single currency, as it means more net capital inflows into the region. But this growth has been fuelled by falling imports, which can be the result of lower commodity and energy prices (which is a very good thing), but also partly indicative of a slowdown in domestic demand. This threatens to translate into economic contraction in the coming months.

The euro area experienced periods of severe import contraction in late 2008 and early 2010, and in both cases, the economy experienced a severe downturn. Back in 2008, all this was accompanied by the collapse of the euro.

Gold

Gold rises but within a downward channel

Gold rallied for the fourth consecutive session to reach $2023, recovering almost all the losses suffered the week before on the back of the inflation report. Gold's ability to rally suggests continued domestic demand, as some investors are clearly rushing to buy back any losses.

At the same time, however, we note that since the beginning of the year, gold has been characterised by solid selloffs on the news, forming a smooth downtrend. In the context of this downtrend, a rise to $2040-2045, which is the upper boundary of the bearish range, looks quite acceptable.

The area around $2035 - the highs of two weeks ago - also appears to be a crucial intermediate level. Confident buying from this level would be the first important signal that the recent correction is over and that gold is ready to make a fresh assault on the highs.

Much more important, however, will be the behaviour of gold as it approaches the $2050 level, where the reversal of the decline in late January took place.

Consolidation at this level would confirm the breakdown of the downtrend and set the stage for a move towards $2100 and the subsequent renewal of historic highs.

However, as long as gold is trading within the downtrend, there is a greater chance of a breakdown or even an acceleration of the downtrend.

Among the fundamental factors, the potential for growth could be provided by the fall in the dollar if Fed officials show a softening of their position, bringing the start of interest rate cuts closer.

On the bearish side, equities could come under pressure following the optimistic rally in the tech giants and the news of a sharp slowdown in economic activity. We also do not rule out the possibility that the recent support measures for the Chinese stock market and property sector will cool demand for gold as a safe-haven for investors from that part of the world.

Cryptocurrency

Crypto market growth halted amid capital inflows

Market picture

The crypto market has corrected 0.46% in the last 24 hours, fluctuating within a narrow range without a clear direction. Bitcoin is down 1% but up 3.7% over seven days, Ethereum is flat for the day but up 10.6% over the week. The top coins are mixed with BNB +2% and Solana -2.5%.

Bitcoin is currently drawing its fourth daily candle with opening and closing levels close to each other. Such sideways consolidations are characteristic of strong bull markets, as opposed to corrective pullbacks on smoother rallies.

Ethereum hit local highs on rumours of a positive regulatory decision before the end of March. Bloomberg analyst James Seyffarth bet 4 ETH that the SEC will not approve a spot Ethereum ETF next month.

According to data from CoinShares, investment in crypto funds rose by a record $2.452 billion last week, following inflows of $1.116 billion the previous week.
Bitcoin investments increased by $2.424 billion, Ethereum by $21 million, Cardano lost $6 million, and Solana lost $1.6 million.

Since the beginning of the year, crypto funds have seen inflows of an impressive $5.2 billion, with total AUM rising to $67 billion, the highest since December 2021.

News background

Bitcoin will see institutional support in the next three to six months, according to Coinbase. Bitcoin ETFs could eventually become a major competitor to gold funds.
According to IntoTheBlock, there is an 85% chance that Bitcoin will reach a new all-time high within the next six months. Five factors could contribute to this: the halving of the price, ETFs, monetary easing, the US election, and companies accumulating BTC as part of their treasuries.

Former CIA contractor Edward Snowden, who has been living in Russia since 2013, called bitcoin the most significant achievement of the financial system in the entire existence of money and means of exchange.

Amberdata admitted that Ethereum will outpace Bitcoin in terms of growth due to more constructive deflationary policies. The supply of ETH has been decreasing since September 2022, thanks to the update of The Merge, as well as the implementation of a mechanism to burn part of the commissions. During this time, around 0.36 million ETH, or 0.3% of the total supply of 120 million coins, have been removed from circulation.

Via Roy Morgan Research and Media Man social media

Copper, gold, and Bitcoin rise; Iron ore and oil fall; ASX to fall in response to selling on Wall Street; US vetoes Arab-backed UN resolution demanding ceasefire in Gaza; Assange's lawyers warn that he risks 'flagrant denial of justice' if he is tried in US

Latest updates on Key Economic Indicators

21 February 2024

Roy Morgan Summary

Australian Dollar: $0.6550 USD (up 0.0011 USD)
Iron Ore Mar Spot Price (SGX): $120.85 USD (down $6.40 USD)

Oil Price (WTI): $78.27 USD (down $1.02 USD)

Gold Price: $2,024.37 USD (up $6.43 USD)

Copper Price (CME): $3.8595 (up $0.0465 USD)

Bitcoin: $52,059.35 (up 0.35% in last 24 hours)

New report reveals Roy Morgan is one of Australia's leading data companies - with in-depth information on millions of Australians based on their Helix Personas

Market Research Update

20 February 2024

Roy Morgan Summary

Roy Morgan leads the way as one of Australia's leading data companies. A special in-depth report into Australia's leading data companies interviewed Roy Morgan CEO Michele Levine and Executive Chairman Gary Morgan about the role the company plays in compiling data and building profiles of different Australians. One of Roy Morgan's key products is 'Helix Personas' which profiles people under headings such as "young and platinum", "smart money", "cautious conservatives", "fair go", "working hard" and nearly 50 other personas. For example, the "young and platinum" group love their mobile devices and are "always on the hunt for the shiny, new and cool" and "making the rent". Their income is around the $64,000 a year mark and they can often be found "living a conventional life centred around family".

Roy Morgan CEO Michele Levine confirmed that the Helix Personas market segments are based on statistical information, not data from individual people. "It's totally ethical. Unlike Facebook or any of these things, it's not any particular individual", Roy Morgan's chief executive Michele Levine, said.: 38,582.12 at 3.22pm NY time (down 45.87 points on Friday's close)

Roy Morgan wins three-year contract to deliver domestic tourism statistics for Austrade

21 February 2024

Roy Morgan Summary

From 2025, Roy Morgan will provide Austrade with the world's best practice survey methodology, big data integration and modelling techniques to deliver accurate domestic tourism statistics. Roy Morgan has reimagined the future of domestic tourism statistics to move Austrade and its stakeholders to the forefront of tourism intelligence with a new platform that will drive the future of Australia's tourism industry, which is estimated to be worth in excess of $160 billion. Portia Morgan, the Head of Client Services at Roy Morgan, says that using face-to-face interviewing, which is the gold-standard for surveying the population, enhanced with big data and cutting-edge data science techniques, Roy Morgan will be delivering a future-proofed system that will be cost effective, reliable, and accurate. She adds that Roy Morgan has been delivering survey-based tourism insights via its Holiday Tracking Survey for 20+ years and the company is thrilled to be working with Austrade and the broader industry to provide a deeper of understanding of how many people are travelling, where they go, what they do and how they spend their valuable tourism dollars.

Anti-mining PM pushes BHP's cash offshore

Roy Morgan Summary

It is somewhat hypocritical of the federal government to flag possible support for Australia's nickel industry, given that Labor's anti-mining legislation may jeopardise the expansion of BHP's copper operations in South Australia. BHP is still likely to proceed with an expansion, but the previously touted investment of between $10bn and $15bn is now only a 50 per cent chance. The new labour laws in the government's industrial relations reforms mean that BHP is now more likely to redirect much of this capital investment to its criticals minerals projects in other countries; rival miner Rio Tinto is already doing this.

More than 2.7 million New Zealanders now read newspapers and magazine audiences surge to over 1.7 million

21 February 2024

Roy Morgan has released its readership results for New Zealand's newspapers and magazines for the 12 months to December 2023. The data shows that 2.73 million New Zealanders aged 14+ (64.4%) now read or access newspapers in an average 7-day period via print or online (website or app) platforms. In addition, 1.71 million New Zealanders aged 14+ (40.3%) read magazines, whether in print or online either via the web or an app. The New Zealand Herald is still the nation's most widely-read publication, with a total cross-platform audience of 1,720,000 in the 12 months to June 2023 - almost five times as many as the second placed Dominion Post with a readership of 341,000. Meanwhile, New Zealand's most widely read magazine is still the driving magazine AA Directions, which had an average issue readership of 379,000 during the year to December (an increase of 63,000 on a year ago).

These are the latest findings from the Roy Morgan New Zealand Single Source survey of 6,254 New Zealanders aged 14+ over the 12 months to December 2023.

New report reveals Roy Morgan is one of Australia's leading data companies - with in-depth information on millions of Australians based on their Helix Personas

Market Research Update

20 February 2024

Roy Morgan Summary

(Credit: Roy Morgan Research)

Roy Morgan Summary

One of Roy Morgan's key products is 'Helix Personas' which profiles people under headings such as "young and platinum", "smart money", "cautious conservatives", "fair go", "working hard" and nearly 50 other personas. For example, the "young and platinum" group love their mobile devices and are "always on the hunt for the shiny, new and cool" and "making the rent". Their income is around the $64,000 a year mark and they can often be found "living a conventional life centred around family". Roy Morgan CEO Michele Levine confirmed that the Helix Personas market segments are based on statistical information, not data from individual people. "It's totally ethical. Unlike Facebook or any of these things, it's not any particular individual", Roy Morgan's chief executive Michele Levine, said.

(Credit: Roy Morgan Research)

The Saudi National Manual for Assets and Facilities Management Released by EXPRO

It will serve as a comprehensive reference enhancing quality, efficiency, and sustainability in Saudi Arabia Government entities.

RIYADH, SAUDI ARABIA, June 5, 2024 /EINPresswire.com/ -- The National Manual for Assets and Facilities Management (NMA&FM) represents a comprehensive reference that enhances quality, efficiency, and sustainability in the management of assets and facilities in Saudi government entities. This reflects the value of the citizens’ combined efforts to establish a unified reference in this field, which is considered the first of its kind on the national and regional levels.

The manual, which is prepared by the Government Expenditure & Projects Efficiency Authority “EXPRO” combined effort with success partners from the concerned government entities, aims to unify the different procedures for managing assets and public facilities, ensuring compliance with local legislation, and building asset management systems by registering and evaluating them to support optimal decision-making. The goal is to extend the life cycle of assets, manage public facilities effectively and efficiently based on the principle of cost and quality and relying on continuous improvement, and preserve resources by activating the concept of financial planning for asset and facility management and effective management of supply chains and contracts.

The manual serves as a technical reference for public entities on how to utilize each entity’s asset and facility management resources impeccably and manage them efficiently. It also covers the entire business life cycle of assets and facilities, starting with planning, constructing, and receiving the project, through contracting and purchasing stages, to operating and maintaining and ending with the decision to stop using and dispose of the facility or asset.

The implementation of this manual has documented success stories in various government entities, Including the Hygiene Performance Contracts transformation Initiative For Riyadh City in cooperation with Riyadh Region Municipality. This initiative resulted in the preparation and development of 16 integrated performance contract brochures for the hygiene of Riyadh city, with an estimated value of over 6 billion riyals, and the development of 11 performance indicators to improve service implementation and quality.

To increase operational efficiency and service quality at the Ministry of Environment, Water, and Agriculture, a system for facilities management was established according to best practices. This included automating assets and facilities management processes, creating an indicator board with over 10 indicators, and setting a standard for classifying dams based on urgency and risk levels according to the global best practices. Additionally, a complete asset registry for dams was built, and the computerized operations and maintenance system was activated.

The collaboration with the Ministry of Human Resources and Social Development led to an increase in operating efficiency and improvement in the quality of service by establishing a facilities management system based on best practices and automating five main and supportive processes for managing assets and facilities. This reduced operational and maintenance costs and increased beneficiary satisfaction rates.

Furthermore, the cooperation with King Saud University has improved operational efficiency and service quality. The university’s assets were counted and inventoried, the effectiveness of the computerized asset management program system was enhanced, and it was linked to other systems at the university in line with the requirements of the national manual. Additionally, an occupational health and safety policy was developed and approved, measurement indicators were identified, and seven procedures for operation and maintenance were implemented. These measures contributed to accelerating and facilitating the operation and field maintenance processes, as well as merging with inventory management to raise the efficiency of purchasing operations.

In addition, Imam Muhammad bin Saud Islamic University has succeeded in developing and launching a computerized system for managing assets and facilities. This system includes the operation automation and maintenance processes and ordering spare parts through computerised systems, increasing spending efficiency on annual operation and maintenance costs. It also accelerated service provision, monitored implementation, and provided data and technical and financial indicator panels to support decision-makers. This cooperation resulted in a qualitative leap in the satisfaction rate of users of university facilities, as well as the complete automation of the inventory and spare parts management process.

The Riyadh Region Municipality developed 13 integrated performance contract brochures for the operation and maintenance of Riyadh’s roads, with an estimated value of 2 billion riyals, and established nine performance indicators to measure the service performance, implementation, and quality.

EXPRO has made the manual available to its partners from public entities, their asset and facility departments, and specialized contractors and consulting offices via the website. EXPRO is committed to providing partners with all necessary knowledge for the manual's application through a training package for each volume, on-the-job training, and experiential learning.

The manual consists of 17 volumes upon which the asset and facilities management methodology is based. Each volume addresses a specific function of asset and facilities management and takes into account the best global practices for accomplishing these functions. It is reviewed and updated periodically based on accumulated experiences and the contributions of a committee of government entities’ representatives, as well as global developments in the field of asset and facilities management.

The first volume includes an introduction to the manual, covering the calibres and guidelines necessary for management. The second volume is devoted to managing assets and the business requirements while achieving a balance between risks, performance and cost to ensure the proper use of assets. It also focuses on effectively monitoring assets during their life cycle to guarantee proper utilization, as well as relying on specialized asset management systems and software.

The third volume explains how assessment, as an organizational process, is useful in determining an asset's condition and establishing an appropriate life cycle. This supports the proper direction of the asset and subsequent maintenance activities, ultimately achieving the required value.

The fourth volume includes guidelines for defining the financial policy framework, including planning the asset’s life cycle with regard to the necessary funding to maintain its operation at the required service level. It also covers the integration of strategic asset management with financial planning procedures, which helps in making decisions between investment and funding options and determining the achievable service level.

The fifth volume focuses on managing the processes of planning, organizing, and work control, as well as maximizing the use of resources to manage facilities and assets. This is based on written procedures that support the preservation of resources and limit any shortcomings or inconsistencies in the services provided, thus helping to avoid a negative impact on the entity’s reputation. It also emphasizes aspects that must be taken into account in future planning and development.

The sixth volume is concerned with managing maintenance by applying best practices to develop tools for planning maintenance and applying methodologies in their management. This contributes to determining the design life of the assets and the continuity of their services to maintain the safe and reliable operation of the assets. Additionally, it focuses on optimizing the benefits of its operational processes.

The seventh volume guides the procedures for adjusting the work and managing the requests related to maintenance activities. It prioritizes and plans these activities, fixes malfunctions, estimates costs, schedules work, and oversees testing and closure.

The supply chain management volume focuses on the strategic planning, implementation, control, and monitoring of supply chain activities, such as warehouse and inventory management. Effective supply chain management contributes to achieving optimal value and promotes competitive infrastructure as well as logistics services worldwide while measuring performance and linking supply to demand.

The Contract Management volume focuses on planning, implementing, managing and supplying asset and facility contracts that ensure legal compliance, meet required service levels, maximize financial and operational performance, and reduce potential risks.

The tenth volume focuses on safety, health, and the environment by providing a guideline to the procedures and controls relied upon to protect employees, visitors, public property, and the environment. It includes procedures for monitoring compliance, risk assessment, safety reviews, and safety training.

The eleventh volume presents the core pillars of quality management, which include monitoring daily work, conducting audits to measure the service provider’s compliance with its contractual obligations, and addressing inconsistencies. The effective application of quality management promotes strategies, policies, procedures, and plans.

The manual makers devoted a volume to managing risks and reducing the potential impact of events that may hinder the stakeholder or user from achieving asset and facilities management objectives, with the possibility of applying risk management to all comprehensive management procedures.

The thirteenth volume guides and directs users on the procedures and principles that must be applied to establish effective document management. Document and records management services are useful for obtaining, circulating and retrieving approved information when needed.

Volume Fourteen pays attention to emergency management, strategic organization of personnel, and allocation of resources to reduce the impact of emergencies and restore operations effectively.

The performance control volume explains the foundations of operating and managing operations and activities in accordance with the entity’s mission, vision, goals and requirements. This allows changes to be made when needed in order to maintain the consistency and effectiveness of performance to achieve the desired business objectives.

The asset and facility management of construction project volume identifies the procedures required during the construction stages to ensure the best results of operation and maintenance throughout the life cycle of the asset’s construction or restoration project.

The Energy Management and Sustainability Guideline outlines the optimal means for the strategic application of energy efficiency in buildings, in addition to sustainability, which represents an approach to integrating the environment, human needs, and costs.

EXPRO has recently launched the “Evolution of Tradition” awareness campaign to publicize the importance of the National Manual for Assets and Facilities Management. This includes a series of multimedia explaining the importance of following the manual’s guidelines to organize and facilitate the work of government entities, achieving many benefits on the national level in terms of efficiency and quality. These have a direct impact on performance of the entity and citizens. The campaign presents some government entities’ success stories following the implementation of Manual. Expenditure efficiency teams within government entities also organize activities to publicize the importance and content of the manual.

For more details, contact Turki Bukhari, Executive vice president, A&FM at media@expro.gov.sa.

Learn more at: https://expro.gov.sa

Turki Bukhari
Expenditure & Projects Efficiency Authority (EXPRO)

Media Man

Warrner Bros

Profile

In 2010, the Warner Bros. Pictures Group broke the all-time industry worldwide box office record with receipts of $4.814 billion, which surpassed the prior record of $4.010 billion (set by the Studio in 2009). Warner Bros. also established a new industry benchmark for the international box office with a total of $2.93 billion (marking a record third time of crossing the $2 billion threshold) and retained its leading domestic box office ranking with receipts of $1.884 billion. 2010 also marked the 10th consecutive year Warner Bros. Pictures passed the billion dollar mark at both the domestic and international box offices. Warner Home Video was, once again, the industry’s leader, with an overall 20.6 percent marketshare in total DVD and Blu-ray sales. The companies comprising the Warner Bros. Television Group and Warner Bros. Home Entertainment Group remain category leaders, working across all platforms and outlets, and are trendsetters in the digital realm with video-on-demand (transaction and ad-supported), branded channels, original content, anti-piracy technology and broadband and wireless destinations.

The Warner Bros. Pictures Group brings together the Studio’s motion picture production, marketing and distribution operations into a single entity. The Group, which includes Warner Bros. Pictures and Warner Bros. Pictures International, was formed to streamline the Studio’s film production process and bring those businesses’ organizational structures in line with Warner Bros.’ television and home entertainment operations.

Warner Bros. Pictures produces and distributes a wide-ranging slate of some 18-22 films each year, employing a business paradigm that mitigates risk while maximizing productivity and capital. Warner Bros. Pictures either fully finances or co-finances the films it produces and maintains worldwide distribution rights. It also monetizes its distribution and marketing operations by distributing films that are totally financed and produced by third-parties. The Studio’s 2011 slate includes “Sucker Punch,” “The Hangover Part II,” “Green Lantern,” “Harry Potter and the Deathly Hallows – Part 2,” “Happy Feet 2” and “Sherlock Holmes: A Game of Shadows.”

Warner Bros. Pictures International is a global leader in the marketing and distribution of feature films, operating offices in more than 30 countries and releasing films in over 120 international territories, either directly to theaters or in conjunction with partner companies and co-ventures.

New Line Cinema, part of Warner Bros. Entertainment since 2008, coordinates its development, production, marketing, distribution and business affairs activities with Warner Bros. Pictures to maximize film performance and operating efficiencies. Highlights of New Line’s 2011 release slate, distributed by Warner Bros., include “Horrible Bosses,” “Final Destination 5,” “A Very Harold & Kumar 3D Christmas” and “New Year’s Eve.”

The Warner Bros. Television Group oversees and grows the entire portfolio of Warner Bros.’ television businesses, including worldwide production, traditional and digital distribution, and broadcasting. In the traditional television arena, WBTVG produces primetime and cable (Warner Bros. Television and Warner Horizon Television), first-run syndication (Telepictures Productions) and animated (Warner Bros. Animation) programming, which is distributed worldwide by two category-leading distribution arms/operations (Warner Bros. Domestic Television Distribution and Warner Bros. International Television Distribution).

Among the primetime series produced by divisions of the Warner Bros. Television Group are “Two and a Half Men,” “The Big Bang Theory,” “The Mentalist,” “Mike & Molly,” “Fringe,” “Gossip Girl,” “The Vampire Diaries,” “Nikita,” “The Middle,” “Southland,” “The Closer,” “Rizzoli & Isles,” “Supernatural,” “The Bachelor,” “Pretty Little Liars,” “Randy Jackson Presents America’s Best Dance Crew” and many more. Also produced by the company are first-run syndicated programs such as “The Ellen DeGeneres Show,” “TMZ” and “Extra,” among others, as well as animated shows “Scooby-Doo! Mystery Incorporated” and “Young Justice.”

WBTVG is an innovative leader in developing new business models for the evolving television landscape, including ad-supported video-on-demand, broadband and wireless, and has digital distribution agreements in place with all of the broadcast networks. Internationally, the Studio is one of the world’s largest distributors of feature films, television programs and animation to the worldwide television marketplace, licensing some 50,000 hours of television programming, including more than 6,000 feature films and 50 current series, dubbed or subtitled in more than 40 languages, to telecasters and cablecasters in more than 175 countries.

WBTVG provides original shortform programming for the broadband and wireless marketplace through its Studio 2.0 digital venture, and its digital media sales unit is devoted specifically to multiplatform domestic advertiser sales for both broadband and wireless. WBTVG continues its strategic expansion into digital production and distribution with the launch of several advertiser-supported entertainment destinations, including TheWB.com, a premium, video-on-demand interactive and personalized network and KidsWB.com, a premium destination built around youth-oriented immersive entertainment.

The final component of WBTVG is broadcasting: The CW Television Network, launched (in partnership with CBS) in September 2006 with quality, diverse programming, is targeted to the 18–34 audience.

Warner Bros. Animation’s combined classic and contemporary library currently boasts 14,000 animated episodes and shorts which air on domestic broadcast networks, as well as cable networks and in direct-to-video releases around the world. The classic library includes such brands as Looney Tunes, Merrie Melodies, Hanna-Barbera and Ruby-Spears as well as such beloved characters as Bugs Bunny, Daffy Duck, Sylvester, Tweety, Taz, Tom and Jerry, Popeye, Batman, Superman, the Flintstones, the Jetsons and Scooby-Doo.

Warner Bros. Home Entertainment Group brings together Warner Bros. Entertainment’s home video (Warner Home Video), digital distribution (Warner Bros. Digital Distribution), interactive entertainment/videogames (Warner Bros. Interactive Entertainment), direct-to-consumer production (Warner Premiere), technical operations (Warner Bros. Technical Operations) and anti-piracy (Warner Bros. Anti-Piracy Operations) businesses in order to maximize current and next-generation distribution scenarios. WBHEG is responsible for the global distribution of content through DVD, electronic sell-through and transactional VOD, and delivery of theatrical content to wireless and online channels. It is also a significant worldwide publisher for both internal and third party videogame titles.

In 2010, Warner Home Video dominated the U.S. market as the number one company in total sell-through video (DVD and Blu-ray combined) with 20.6% marketshare, theatrical catalog, TV on DVD, non-theatrical family and animation, Blu-ray and VOD. WHV has been the number one studio in overall DVD sales 14 consecutive years, and is also the leading studio in the international home video space.

With more than 3,700 active licensees worldwide, Warner Bros. Consumer Products licenses the rights to names, likenesses and logos for all of the intellectual properties in Warner Bros. Entertainment’s vast film and television library. With a global network of offices and agents in key regions throughout the world, including North America, Latin America, Asia and Europe, WBCP maintains an ongoing commitment to expand and build the power of its core brands’ recognition in the international marketplace through strong and creative merchandising, promotional marketing and retail programs.

DC Entertainment’s DC Comics has been in continuous publication for more than 60 years, and is the leading comic book publisher in the industry and the creator of some of the world’s most recognized icons. DC’s characters continue to headline blockbuster feature films, live-action and animated television series, direct-to-video releases, collectors’ books, online entertainment, digital publishing, countless licensing and marketing arrangements and, most recently, graphic novels. DC continues to attract new readers and fans all over the world with its signature characters Superman, Batman, Wonder Woman and Justice League leading the way.

Warner Bros. International Cinemas provides a true state-of-the-art movie experience to audiences in Japan with more than 60 multiplex cinemas and more than 600 screens internationally. One of the pioneers in multiplex development for the international marketplace, WBIC is continually exploring new markets for expansion. (Credit: Warner Bros. Entertainment)

Press Release

09 August 2010

MICROGAMING SET TO LAUNCH THE LORD OF THE RINGS™: THE FELLOWSHIP OF THE RING ONLINE VIDEO SLOT GAME

First Title to Utilize Proprietary Cinematic Spins™ Technology Allowing Players to Experience the Film with Every Spin

ISLE OF MAN – Microgaming today announced the imminent launch of a new flagship game, The Lord of the Rings: The Fellowship of the Ring Online Video Slot Game. This slot game is the first to utilise Microgaming’s new Cinematic Spins™ technology, allowing gamers to see clips from the films with every spin.

The Lord of the Rings: The Fellowship of the Ring is a new online slot game that is part of a multi-year licensing agreement Microgaming signed with Warner Bros. Digital Distribution in 2009. The company is developing a series of cutting-edge, graphic rich video slots based on this popular movie trilogy and will use animation material, themes, and characters, from the trilogy of The Lord of the Rings™ motion pictures that include The Lord of the Rings: The Fellowship of the Ring, The Lord of the Rings: The Two Towers and The Lord of the Rings: The Return of the King. These online slot games will be available to adults only in countries where online gaming is permitted.

The Lord of the Rings: The Fellowship of the Ring is the first online video slot to use Microgaming’s Cinematic Spins™ state-of-the-art gaming technology. This allows movie clips to act as moving backgrounds behind the reels during spins providing players an unprecedented level of excitement and immersion.

Win sequences and expanding wilds also use cinematic clips, instead of traditional animated graphics. The slots feature famous scenes from the film including Ringwraiths during the attack at Weathertop, Balrog in the Mines of Moria, and Uruk-hai in the woods of Middle-earth. Players will also enjoy seeing characters from the films that include Frodo, Aragorn, Saruman and the deadly Black Riders.

Roger Raatgever, CEO Microgaming comments: “Microgaming has always been ahead of the curve with innovative offerings, but this game really does push the boundaries of what an online slot can do. The Lord of the Rings: The Fellowship of the Ring looks and feels like an extension of the big screen film experience and we’re confident that our operators will see a great deal of demand from their players, when the game is released. This is an important deal for Microgaming and highlights our commitment to partner with the right brands, at the right time. The Lord of the Rings is one of the most successful and well loved brands on the planet and we are excited about combining this widespread appeal with Microgaming’s groundbreaking software.”

The Lord of the Rings Trilogy generated $3 billion in worldwide box office receipts and was nominated for a total of 30 Academy Awards®; of which they won 17, including Best Picture.

- Ends -
Notes to editors:
*Cinematic Spins is a trademark held by Microgaming

© 2010 New Line Productions, Inc. All rights reserved. The Lord of the Rings: The Fellowship of the Ring, The Lord of the Rings: The Two Towers, The Lord of the Rings: The Return of the King and the names of the characters, items, events and places therein are trademarks of The Saul Zaentz Company d/b/a Middle-earth Enterprises under license to New Line Productions, Inc.

For further information please contact:
Duncan Skehens / Laura Moss/ Lyndsay Haywood
Lansons Communications
020 7490 8828
DuncanS@lansons.com / LauraM@lansons.com / LyndsayH@lansons.com
Warner Bros. Digital Distribution

Peter Binazeski
818-977-5701
peter.binazeski@warnerbros.com
About Microgaming (www.microgaming.com)
Since the company developed the first true online Casino software over a decade ago, it has led the industry in providing innovative, reliable gaming solutions. Thanks to an unrivalled R&D programme, that averages 60 games per year and a unique ‘partnership’ approach to working with operators; Microgaming software powers over 160 market-leading online gaming sites.
The company’s front and back-end software supports multi-player, multi-language games - over 500 of them, all uniquely branded and provides platforms for land-based and wireless gaming. Microgaming powers the world’s largest Progressive Jackpot Network and has paid out over €265million. In May 2009 it created the biggest ever online jackpot winner with a single payment win of €6.37m.

As a founding member of eCOGRA, Microgaming is at the forefront of an initiative focused on setting the highest standards in the gaming industry, and leads in the areas of fair gaming, responsible operator conduct and player protection. Microgaming has been awarded eCOGRA’s Certified Software Seal following a rigorous onsite assessment to ensure that the development, implementation and maintenance of the software is representative of industry best practice standards Microgaming licensees are therefore eligible to apply for the eCOGRA Safe & Fair Seal.

About Warner Bros. Digital Distribution
Warner Bros. Digital Distribution (WBDD) manages Warner Bros. Home Entertainment Group's (WBHEG) electronic distribution over existing, new and emerging digital platforms, including pay-per-view, electronic sell-through, video-on-demand, wireless and more. WBDD also oversees the WBHEG's worldwide digital strategy, partnerships in digital services and emerging new clients and business activities in the digital space.

News

2009

With Time Warner sitting on $7 billion in cash, the Marvel deal has ignited rumours of a second wave of consolidation in the media industry. Dream Works Animation, home of Shrek, is seen as a potential takeover candidate, as is MGM with its huge library of classic films. The games firms Electronic Arts and Take Two Interactive, with its Grand Theft Auto franchise, are also being touted as potential buys.

Profile

Warner Bros. Entertainment, Inc. (also known as Warner Bros. Pictures, or simply Warner Bros.) is one of the world's largest producers of film and television entertainment.

It is a subsidiary of Time Warner, with its headquarters in Burbank, California and New York City. Warner Bros. has several subsidiary companies, including Warner Bros. Studios, Warner Bros. Pictures, Warner Bros. Interactive Entertainment, Warner Bros. Television, Warner Bros. Animation, Warner Home Video, TheWB.com and DC Comics. Warner owns half of The CW Television Network.

Founded in 1918 by Jewish immigrants from Poland, Warner Bros. is the third-oldest American movie studio in continuous operation, after Paramount Pictures, founded in 1912 as Famous Players, and Universal Studios, also founded in 1912.