U.S. Treasury Downplays Role of Crypto in Financing Palestinian Militant Groups
Finance
FinCEN Report Unveils Bitcoin's Role in Human Trafficking and Child Exploitation
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Gold Prices Plunge Below $2,000 as Stubborn Inflation Dashes Rate Cut Hopes
"Gold prices tumbled below the critical threshold of $2,000 per ounce, marking the lowest point in two months, as a U.S. inflation report that exceeded expectations dampened hopes for an imminent reduction in interest rates by the Federal Reserve. -
Dow Faces Sharp Decline Amid Hotter-Than-Expected Inflation Data
"The stock market experienced a significant downturn on Tuesday, with the Dow Jones Industrial Average plummeting over 500 points, marking one of its steepest declines since March 2023. This sell-off was spurred by unexpectedly high inflation data for January, which has cast doubts on the anticipated series of Federal Reserve rate cuts that many investors had been banking on to bolster the equity market.
The Latest
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Bitcoin Briefly Drops Below $60,000 as Crypto Market Cools Off Ahead of Halving Event
Bitcoin (BTC) has given up its recent gains, plunging below the $60,000 level during the morning hours of the U.S. trading session on Wednesday. The world's largest cryptocurrency briefly fell as low as $59,888, marking its weakest price since early March and a decline of more than 18% from its all-time high of $73,797 reached on March 14. 
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U.S. Crude Oil Dips Below $85 as Market Discounts Risk of Wider Israel-Iran Conflict
U.S. crude oil prices fell for the third consecutive trading session on Wednesday, dipping below $85 a barrel as the market appeared to dismiss the risk of a wider war between Israel and Iran that could potentially disrupt supplies. 
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Citi Analyst Predicts Gold Prices to Reach $3,000 per Ounce in 6-18 Months
Gold prices continue to shine near record highs, with Citigroup forecasting that the precious metal could reach $3,000 per ounce in the next 6 to 18 months. The bullish outlook comes amid heightened geopolitical tensions in the Middle East and strong physical demand from central banks in emerging markets. 
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Bitcoin Faces Volatility Ahead of Halving Event: ETFs See Outflows Amid Market Uncertainty
Bitcoin, the world's largest cryptocurrency, is experiencing significant volatility as the highly anticipated "halving" event approaches. The halving, which is expected to occur around April 19, will reduce the block reward for miners from 6.25 BTC to 3.125 BTC, effectively cutting Bitcoin's inflation rate in half from approximately 1.7% to 0.85%. This event has the potential to impact the cryptocurrency's price and its status as a store of value. 
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Lagarde Indicates ECB Rate Reduction on the Horizon, With Caution Over Middle East Tensions
European Central Bank (ECB) President Christine Lagarde has signaled that the bank is poised to cut interest rates in the near future, contingent on the absence of major disruptions. This announcement came during her interview with CNBC at the IMF Spring Meetings, where Lagarde underscored a cautious optimism about the ongoing disinflationary process in the eurozone. 
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Justice Department Prepares Antitrust Lawsuit Against Live Nation and Ticketmaster
The U.S. Department of Justice is reportedly gearing up to sue Live Nation Entertainment, the parent company of Ticketmaster, on grounds of antitrust violations. This impending lawsuit, first disclosed by The Wall Street Journal, stems from allegations that Ticketmaster has abused its dominant position in the ticketing market to stifle competition and control the live events space. 
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Oil Prices Dip as Middle East Tensions Show Signs of Easing
Oil prices saw a modest decline on Monday as fears of a broader regional conflict eased following Iran's weekend attack on Israel. Brent crude futures for June delivery dropped by 0.9% to $89.64 a barrel, and West Texas Intermediate (WTI) for May delivery decreased by about 0.8% to $84.97 a barrel. This shift came despite a previous hike in oil prices last Friday in anticipation of the attack, marking the highest prices since October. 
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Goldman Sachs Reports Strong Q1 Earnings, Led by Investment Banking Surge
Goldman Sachs has reported its highest earnings per share since 2021, marking a significant rebound with a 28% rise in profit to $4.13 billion for the first quarter, or $11.58 per share, surpassing Wall Street expectations of $8.56 per share. This financial uplift was primarily driven by a resurgence in its investment banking sector, which saw a 32% increase in fees, amounting to $2.08 billion. 
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Hong Kong Advances Spot-Crypto ETFs, Eyes Financial Hub Status
Hong Kong has taken significant steps towards establishing itself as a global digital-asset hub by conditionally approving the launch of spot Bitcoin and Ether exchange-traded funds (ETFs), setting the stage for what could be a major shift in the cryptocurrency landscape in Asia. 
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Big Banks Warn of Fading Benefits from High Interest Rates as Depositors Seek Higher Yields
The nation's biggest banks are beginning to feel the sting of high interest rates as depositors increasingly move their funds to higher-yielding accounts, leading to a decline in a key revenue source for these financial giants. JPMorgan Chase, Wells Fargo, and Citigroup all reported a drop in net interest income (NII) during the first quarter of the year, signaling that even the largest institutions are not immune to the challenges posed by elevated interest rates. 
