Cryptocurrencies bounce back from Sunday sell-off, bitcoin still down 30% in May
Bitcoin jumped more than 10% during a surge in cryptocurrencies Monday, regaining some ground lost during a weekend sell-off that was sparked by renewed signs of a Chinese crackdown on the emerging sector.
Bitcoin fights back after Sunday sell-off
Cryptocurrencies fought back on Monday, clawing back ground after a bout of weekend selling fuelled by further signs of a gathering Chinese crackdown on the emerging sector.
SHARES WARY ON U.S. INFLATION, BATTERED BITCOIN CHARTS RECOVERY
Asian shares got off to a cautious start on Monday as investors anxiously awaited a key read on U.S. inflation this week for guidance on monetary policy, while Bitcoin took a hammering after China cracked down on mining and trading of the cryptocurrency.
Tesla’s bitcoin value dives; Musk signals hold with ‘diamond hands’ tweet
The market value of Tesla Inc’s (TSLA.O)bitcoin holdings have fallen by half to $1.26 billion, close to the electric car maker’s purchase cost, as the cryptocurrency’s value plunged following a crackdown by the Chinese government.
Tencent Q1 profit rises 65% as online gaming revenue climbs
Chinese gaming and social media giant Tencent Holdings Ltd (0700.HK) reported a forecast-beating 65% rise in quarterly profit on Thursday, driven by a surge in users for its video games in China and international markets.
ByteDance founder to step down as CEO, hand over to college roommate
Zhang Yiming will step down as chief executive of TikTok-owner ByteDance, leaving the task of navigating a rising number of Big Tech regulations worldwide to college roommate, long-time colleague and current human resources head Liang Rubo.
China bans financial, payment institutions from cryptocurrency business
China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading.
Analysis: To tackle climate change, China must overhaul its vast power grid
One of the most pressing challenges for China to meet its pledge to cap carbon emissions this decade and pivot toward renewables is overhauling its electricity grid, the world’s largest, officials and analysts say.
China’s Baidu posts 25% rise quarterly revenue on ad, cloud boost
China’s Baidu Inc reported a 25% rise in quarterly revenue on Tuesday, powered by advertising on its core search and video-streaming platforms. The Beijing-based company’s aggressive push into cloud services, artificial intelligence, autonomous driving and smart transport technology has helped grow its non-advertising revenue and offset competition to its core search platform from Alibaba and […]
Global stocks press pause, gold hits 3-mth high on inflation concerns
Global shares hit the pause button and gold briefly crested a three-month high as surging COVID-19 cases in some Asian countries and inflation pressures tempered demand for riskier assets. Markets have been skittish in recent weeks as bumper supplies of central bank stimulus and rising prices in the United States and other countries fuel concerns […]
