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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Oil Prices Decline Amid Chinese Demand Concerns and Hopes for Gaza Ceasefire
Oil prices have seen a significant drop, with Brent crude and West Texas Intermediate (WTI) both falling over 1% on Friday. This decline is attributed to growing concerns about Chinese demand and optimism surrounding a potential ceasefire in Gaza, which could alleviate some Middle East tensions and supply worries. 
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Russian Central Bank Raises Rates to 18% Amidst Economic Overheating and Inflation Concerns
The Russian central bank has sharply increased its key interest rate by 200 basis points to 18%, marking the highest level in more than two years. This move, announced on Friday, is part of a broader effort to curb soaring inflation in an economy experiencing significant overheating. The central bank also indicated that further tightening is likely until inflation rates stabilize. 
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China's Major Banks Cut Deposit Rates Amid Economic Struggles
China's major state-owned banks have initiated cuts to deposit rates in a bid to alleviate pressure on their profit margins and support economic growth amid a challenging economic environment. 
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Oil Prices Drop Amid Concerns Over Chinese Demand and Global Economic Outlook
Oil prices experienced a notable decline on Thursday, driven by weak demand signals from China, despite positive inventory data from the United States. This drop comes as the market grapples with the implications of lower Chinese consumption, which overshadowed the previous day's data showing significant draws on U.S. inventories. 
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Gold Prices Rise Amid Speculation on U.S. Rate Cuts and Economic Data
Gold prices rose on Wednesday as traders anticipated forthcoming U.S. economic data and the potential for interest rate cuts by the Federal Reserve. Spot gold increased by 0.4% to $2,417.63 per ounce as of 1208 GMT, while U.S. gold futures climbed by 0.5% to $2,418.20. The market is keenly focused on key economic indicators due later in the week, including the U.S. GDP data on Thursday and the personal consumption expenditure (PCE) price index on Friday, which could further shape expectations around the Fed's monetary policy. 
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Ether ETFs Surge to $1 Billion in First-Day Trading Amid Strong Market Debut
U.S. exchange-traded funds (ETFs) tied to the price of ether enjoyed a robust debut, with trading volumes surpassing $1 billion on their first day. 
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Ethereum Spot ETF Debut Sees Strong Investor Interest with $500 Million Trading Volume
On July 23, Ethereum spot ETFs made their public trading debut in the United States, attracting significant investor interest. Media estimates suggest that the combined trading volume of the first nine Ethereum ETFs surpassed $500 million within hours of opening. 
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Oil Prices Slump to Five-Week Low Amid Algorithmic Selling and Global Uncertainties
Oil prices tumbled to a five-week low on Tuesday, driven primarily by a wave of algorithmic selling that pushed the U.S. benchmark West Texas Intermediate (WTI) down by 1.6% to nearly $77 per barrel. This sharp decline followed the breach of critical technical levels, notably the 50-day and 100-day moving averages, which typically serve as support thresholds. The low liquidity typical of the summer months further exacerbated this downward trend. 
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Ether ETFs Launch Amid Mixed Investor Sentiment, Concerns Over Staking Exclusion
Ether (ETH) prices surged above $3,500 ahead of the anticipated launch of Ether-based exchange-traded funds (ETFs) in the United States. This move has sparked a mixture of excitement and caution among investors, as the new financial products are set to begin trading on Tuesday. However, the market remains wary about potential inflow limitations and the impact of existing large-scale holdings, such as Grayscale's substantial ETH Trust. 
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Biden Bows Out, Trump Trade Falters
The recent decision by President Joe Biden to withdraw from the presidential race and endorse Vice President Kamala Harris has introduced new uncertainties regarding former President Donald Trump's return to the White House. This shift has caused the once-surging "Trump trade" to show signs of weakening. 
