Pi Network has surpassed Binance in user numbers in South Korea, boasting 1.34 million users, while the exchange has fewer. The project, which allows smartphone mining, is nearing the launch of its open mainnet, pending final verifications, with 14 million users already meeting requirements. The deadline for the remaining verifications is set for December 31.
World shares showed mixed results as investors awaited a likely interest rate cut from the European Central Bank. While Germany's DAX and Britain's FTSE 100 saw slight gains, U.S. futures dipped ahead of the Federal Reserve's upcoming meeting, where further rate cuts are anticipated to support a slowing economy. In Asia, Chinese shares rose amid government economic plans, while Japan's Nikkei 225 advanced, driven by technology stocks.
World shares showed mixed results as investors awaited a likely interest rate cut from the European Central Bank. U.S. stock indexes rebounded, with the S&P 500 rising 0.8% and the Nasdaq composite reaching a record close above 20,000, driven by tech stocks. Meanwhile, inflation in the U.S. ticked up slightly to 2.7% in November, indicating ongoing price pressures.
Asian shares mostly rose, following a Wall Street rally, as U.S. inflation data suggested potential Federal Reserve support for the economy. The Hang Seng surged 1.4%, while the Nikkei 225 gained 1.2%. In the U.S., the S&P 500 climbed 0.8%, driven by tech stocks, despite a slight dip in the Dow.
Asian shares rose as Wall Street's rally continued, buoyed by an inflation update that suggests potential Federal Reserve support for the economy. The Hang Seng surged 1.7%, while Tokyo's Nikkei 225 gained 1.3%, driven by technology stocks. In the U.S., the S&P 500 climbed 0.8%, with Tesla jumping 5.9% and Stitch Fix soaring 44.3% after better-than-expected earnings.
Asian shares rose Thursday, buoyed by a Wall Street rally and positive inflation updates that may lead to further Federal Reserve support for the economy. The Hang Seng surged 1.7%, while the Nikkei 225 gained 1.3%, driven by technology stocks. In the U.S., the S&P 500 climbed 0.8%, marking its first two-day gain in nearly a month, as inflation ticked up slightly to 2.7% in November.
Asian shares rose Thursday, buoyed by a Wall Street rally and positive inflation updates that may lead to Federal Reserve support for the economy. The Hang Seng surged 1.7%, while Tokyo's Nikkei 225 gained 1.3%, driven by technology stocks. In the U.S., the S&P 500 climbed 0.8%, marking its first two-day gain in nearly a month, as expectations for interest rate cuts fueled market optimism.
South Korea's efforts to regulate cryptocurrencies have stalled amid political turmoil following a martial law declaration and impeachment proceedings against President Yoon Suk Yeol. The National Assembly has postponed discussions on key crypto bills until at least mid-2025, leaving the industry in uncertainty and raising concerns about the country's competitiveness in digital finance. Meanwhile, Bitcoin prices plummeted by 30% following the martial law announcement, reflecting the market's volatility amid ongoing instability.
South Korea's National Assembly has suspended all discussions on crypto regulations due to the ongoing martial law and impeachment proceedings against the president, leading to an indefinite delay in virtual asset bills. The crypto industry, which has long sought clearer regulations, faces the risk of falling behind other nations as local firms and investors may consider relocating abroad. Meanwhile, the proposal to delay the crypto tax law to 2027 narrowly passed before the Assembly's focus shifted entirely to impeachment.
The global Crypto Wallet Market, valued at USD 9.95 billion in 2023, is projected to reach USD 74.52 billion by 2032, growing at a CAGR of 25.09%. North America leads the market with a 33% share, driven by high cryptocurrency adoption and a favorable regulatory environment, while the Asia-Pacific region is expected to experience the fastest growth. Recent developments include PayPal's new crypto wallet and Coinbase's integration of DeFi applications, enhancing user engagement and security in the crypto space.
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