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Maldives Trade Minister Mohamed Saeed held discussions with senior officials from Chinese banks to form strategic alliances aimed at boosting the Maldivian economy. This comes as the US credit rating agency Fitch downgraded Maldives’ credit rating to junk status, raising concerns about the country’s ability to repay its foreign debt. High-level talks with Chinese banks… Continue reading Maldives seeks alliances with China as Fitch downgrades its credit rating to junk status

Bybit, one of the world’s top three cryptocurrency exchanges by trading volume, has experienced a significant surge in market share according to Kaiko’s latest data debrief report. The report highlights Bybit’s impressive growth, especially after launching spot Bitcoin ETFs in the US, positioning it as a major player in the global crypto trading landscape. Since… Continue reading Crypto exchange Bybit rises to second place globally, says Kaiko report

Proof of stake blockchain Tezos has unveiled a series of new updates. Dubbed Tezos X, the upgrade is a move towards a more efficient Layer 1 (L1) blockchain. Per a June 27 blog post, the developers consider the upgrade the next evolution for the self-upgradeable Tezos blockchain.  When deployed, the blockchain is expected to see… Continue reading Tezos targets L1 improvement with Tezos X

Toyota Motor Corp., Denso Corp., and Toyota Industries Corp. have announced plans to sell shares worth approximately ¥178 billion ($1.1 billion) in Aisin Corporation. The decision is part of a broader strategy to enhance capital efficiency and drive future growth for the group while maintaining strong capital ties. Sale to fund strategic investments The trio’s… Continue reading Toyota, Denso, and Toyota Industries to sell $1.1 billion in Aisin shares

The Cardano Foundation has unveiled a detailed governance plan ahead of the Chang hard fork, designed to make the blockchain fully decentralized. #Cardano charts a new path with decentralized governance ahead of Chang hard fork. The Interim Constitutional Committee (ICC) takes center stage, guiding pivotal decisions for Cardano’s future. Foundation’s strategic move ensures transparency and… Continue reading Cardano (ADA) transitions to decentralized governance as Chang hard fork looms

Coinbase has announced that the crypto exchange will not support the Ocean (OCEAN) and Fetch.ai (FET) token migration as part of the project’s merger into the Artificial Superintelligence Alliance (ASI). On June 26, Coinbase posted a statement on X notifying its customers that the US-based crypto exchange will not implement OCEAN to FET migration “on… Continue reading Coinbase will not support Ocean-Fetch.ai migration in AI token merger

Crypto.com, one of the leading crypto exchanges, has continued to lose market share in the industry despite spending heavily on advertising.  Data compiled by CoinMarketCap shows that the exchange handled tokens worth over $1.3 billion in the past 24 hours. In contrast, Binance handled tokens worth $10.4 billion while Bybit, Coinbase, and Bitget’s volumes stood… Continue reading Crypto.com exchange loses market share after marketing spending

Turkish legislators have approved a significant crypto regulation bill, introduced by ruling party chairman Abdullah Güler. The bill includes stringent penalties for violations, with fines of up to $182,600 and imprisonment of up to five years. This legislative move marks a crucial step in Turkey’s efforts to regulate the burgeoning crypto market. Strict penalties for… Continue reading Turkey’s new crypto bill imposes up to $182,600 fines and 5-year prison terms

FedEx Corp. shares surged over 13% in Wednesday’s premarket session following the company’s announcement of significant structural cost reductions for fiscal year 2024. Investors reacted positively to the news, which is part of FedEx’s broader strategic initiative aimed at enhancing efficiency and profitability. Cost-cutting measures by Fedex boost confidence FedEx revealed that it had reduced… Continue reading FedEx shares surge over 13% as investors welcome $1.8 b reduction in structural costs