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VinFast reported a 149.9% increase in Q1 2025 revenue, totaling 16,306.4 billion dong (US$656.5 million), despite a net loss of 17,693.8 billion dong (US$712.4 million), up 15% from the previous year. The company delivered 36,330 EVs, a 296% year-on-year rise, and is focusing on expanding in Asia while diversifying its product offerings to meet the needs of emerging markets.
Bitcoin's price surged past $107,000 during Europe's afternoon trading, following a morning below $106,000. This rally liquidated approximately $60 million in short positions, coinciding with significant whale activity on the decentralized exchange Hyperliquid, where over $5 million was deposited to open a leveraged long position.The price increase is likely tied to renewed optimism surrounding US-China trade talks, with delegations from both nations arriving in London to negotiate a resolution on tariffs. The US team is led by Treasury Secretary Scott Bessent, while the Chinese delegation is headed by Vice Premier He Lifeng.
Sony Block Solutions Labs has launched "Soneium For All," an incubator program aimed at developing consumer and gaming applications on its Ethereum Layer-2 blockchain, Soneium. In collaboration with Astar Network and Startale Cloud Services, the initiative targets Web3 developers and offers access to a user base of over 7 million, along with grants and mentorship opportunities.This move comes amid significant growth in blockchain gaming, with the market projected to expand from $128.62 billion in 2022 to $614.91 billion by 2030. By leveraging its extensive IP portfolio and existing user base, Sony aims to enhance its market position while addressing challenges in user acquisition and scalability within the evolving Web3 ecosystem.
Rapido is set to launch a food delivery service in Bengaluru, offering commission rates between 8% and 15%, significantly lower than the 16% to 30% charged by Zomato and Swiggy. The new model includes fixed fees of 25 rupees for orders under 400 rupees and 50 rupees for larger orders, aiming to alleviate financial pressures on small restaurants. This disruptive pricing strategy could reshape India's food delivery market, which is currently dominated by Zomato and Swiggy.
Geely, China's second-largest carmaker, has paused new plant construction to address global overcapacity and intense price competition in the automotive sector. Despite a challenging market, the company reported a 32% increase in vehicle deliveries and a 52% rise in net profit, driven by a strategic focus on international sales and a multi-energy approach. As domestic competition intensifies, Geely's pivot towards exports and localized manufacturing aims to enhance profitability and mitigate risks.
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British Prime Minister Keir Starmer and Nvidia co-founder Jensen Huang will announce a new initiative on June 9 to enhance AI education and research in the UK, supported by a £187 million program. This partnership aims to address the UK's AI skills gap, with only 15% of organizations classified as "AI pros," and to boost productivity amid economic challenges. The collaboration reflects a strategic shift towards leveraging private sector expertise to foster innovation and tackle labor market concerns related to AI displacement and job creation.
The Reserve Bank of India (RBI) has implemented a 50-basis point rate cut and injected ₹2.5 trillion to stimulate borrowing and capital market activity. This aggressive monetary policy is expected to boost IPO demand, with HDB Financial Services' upcoming offering serving as a key indicator of market response.India's IPO market is already thriving, leading globally by deal count in 2024, and the rate cut aligns with a favorable global IPO recovery trend. However, the effectiveness of this policy will depend on how quickly banks transmit these rate reductions to borrowers, which historically takes time.
Circle Internet Financial, a stablecoin issuer, saw its shares surge 48% on June 6, 2025, following a successful debut on the New York Stock Exchange, reaching a high of $123.49 and a valuation of $32.1 billion. This milestone reflects growing institutional confidence in regulated crypto infrastructure amid a recovering IPO market, where selectivity is key. Despite ongoing economic uncertainties, investor interest remains strong, particularly in sectors like fintech, as companies demonstrate robust financial fundamentals.
Bitcoin transactions have plummeted to their lowest levels since October 2023, with a seven-day moving average of around 317,000 and only 256,000 transactions on June 1. This decline, despite high prices, indicates a shift towards viewing Bitcoin as a long-term store of value rather than a medium of exchange, as investors increasingly hold rather than transact.Additionally, a statement from 31 Bitcoin Core developers highlights ongoing governance tensions regarding transaction filtering, reflecting the community's struggle to balance Bitcoin's original vision with evolving technical needs. The low transaction volumes are creating unique economic challenges for miners, who are now competing for a shrinking pool of fee revenue in a post-halving environment.
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VinFast reports significant revenue growth despite rising net losses in Q1 2025
14:43 09.06.2025
Bitcoin price surges past 107000 amid US China trade talks in London
13:26 09.06.2025
Sony launches blockchain incubator for consumer and gaming applications
11:00 09.06.2025
Rapido disrupts food delivery market with lower commission rates for restaurants
10:50 09.06.2025
Geely halts new plant construction amid global automotive overcapacity challenges
10:10 09.06.2025
Qualcomm acquires Alphawave for 2.4 billion dollars to enhance AI capabilities
09:10 09.06.2025
UK government partners with Nvidia to enhance AI education and skills training
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08:30 09.06.2025
RBI rate cut expected to enhance IPO and bond market activity
08:10 09.06.2025
Circle shares surge 48 percent in successful New York Stock Exchange debut
07:32 09.06.2025
bitcoin transaction volumes decline as fee policy ignites governance debate
07:00 09.06.2025
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