Arthur Hayes, co-founder of BitMEX, warns of a potential crypto sell-off around Donald Trump's inauguration in January 2025, citing a disconnect between market expectations and the reality of policy implementation. His investment fund, Maelstrom, plans to reduce positions in anticipation of lower prices, predicting a significant market drop before a recovery later in the year. Despite optimism from other analysts about Trump's impact on Bitcoin, Hayes emphasizes the likelihood of a harsh market correction as investors adjust to the slower pace of policy changes.
UBS forecasts the USD/CNY exchange rate to reach 7.5 by the end of the first half of 2025, amid ongoing US-China trade tensions. The bank suggests that while Beijing may implement symbolic retaliatory measures, a moderate devaluation of the yuan is more likely to mitigate economic impacts. Additionally, potential concessions from China could include increased purchases of US agricultural products and cooperation on mutual interests to stabilize relations.
UBS forecasts the USD/CNY exchange rate to reach 7.5 by mid-2025, driven by ongoing US-China trade tensions. While potential Chinese tariffs and export restrictions may arise, a moderate depreciation of the yuan is deemed more likely to protect the economy from US tariffs without destabilizing the financial system. Beijing may also consider concessions, such as increasing imports from the US, to ease tensions while maintaining economic stability.
Novartis has partnered with BioAge Labs in a multi-year collaboration to discover new therapies for age-related diseases, involving up to $20 million in funding and potential milestones of $530 million. The partnership will leverage BioAge’s extensive human longevity datasets and advanced analytics to identify healthy lifespan determinants. This collaboration comes after BioAge faced a setback with its lead asset, azelaprag, which was discontinued due to safety concerns in a recent study.
Meme coins are gaining traction in the crypto market, with Crypto All-Stars, MOG, and BabyDoge poised for significant growth before Christmas. Crypto All-Stars offers a unique staking opportunity for meme enthusiasts, while MOG thrives on community-driven humor. BabyDoge combines adorable branding with a philanthropic mission, appealing to both investors and animal lovers.
Ohio has introduced House Bill 703, aiming to establish a Bitcoin treasury to safeguard state funds against potential devaluation of the US dollar. This initiative positions Ohio as a frontrunner in the adoption of Bitcoin as a strategy to combat currency inflation.
Peter A. Fanconi will remain president of Graubündner Kantonalbank until June 2025, after which Heinz Huber will take over as chairman starting July 2025. Huber, currently CEO of Raiffeisen Switzerland, succeeds Fanconi amid scrutiny related to a controversial credit concession involving an Austrian real estate group.
Dutch prosecutors have announced they will request that Ralph Hamers, the former CEO of UBS and ING, not be prosecuted over allegations related to anti-money laundering failures at ING. The court is expected to grant this request, although it retains the option to reject it.
Dutch prosecutors have announced they will request that Ralph Hamers, the former CEO of UBS and ING, not be prosecuted over allegations related to anti-money laundering failures at ING. The court is expected to grant this request, although it retains the authority to make a different decision.
Dutch prosecutors have announced they will request that Ralph Hamers, the former CEO of UBS and ING, not be prosecuted over allegations related to anti-money laundering failures at ING. The court is expected to grant this request, although it retains the authority to make a different decision.
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