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U.S. stock index futures fell sharply amid fears of a government shutdown and shifting interest rate expectations, as Congress struggles with President Trump's spending bill. The Federal Reserve has raised its inflation forecast for 2025, contributing to market volatility.In Russia, the central bank maintained its key interest rate at 21%, surprising markets that expected a hike. This decision aims to combat inflation, currently at 9.5%, while facing criticism from business leaders who argue that high rates hinder investment in a strained economy.
Cryptocurrency theft surged to $2.2 billion in 2024, with North Korean hackers responsible for 61% of the losses, totaling $1.34 billion across 47 incidents. While decentralized finance platforms were primary targets in early 2024, the focus shifted to centralized services later in the year, highlighted by significant breaches at DMM Bitcoin and WazirX. The ongoing threat from these cybercriminals emphasizes the urgent need for enhanced security measures in the crypto industry.
In 2024, crypto thefts surged to $2.2 billion, a 21% increase from the previous year, with North Korean hackers responsible for 61% of the total, stealing $1.34 billion across 47 attacks. The hacking incidents rose to 303, with centralized exchanges becoming the primary targets, particularly after a notable decline in thefts following the Putin-Kim summit in late June.
South Korea has delayed the implementation of a crypto tax until 2027, reaffirming its pro-crypto stance amid political uncertainty following President Yoon Suk-yeol's impeachment. The government aims to develop a comprehensive regulatory framework while monitoring global trends, particularly U.S. policies under President-elect Donald Trump. Despite the turmoil, trading activity remains strong on major exchanges as investors seek cryptocurrencies as a hedge against the weakening Korean Won.
The BRICS alliance is set to expand in 2025, with growing interest from African nations eager to join. This expansion could enhance bilateral trade and local currency settlements, appealing to developing countries seeking alternatives to the US dollar. Additionally, discussions around cryptocurrency adoption are intensifying, with proposals for an electronic payment infrastructure that may position Bitcoin as a viable alternative to the dollar, potentially reshaping global economic dynamics.
Bitcoin has surged to a record high of $106,533, with large wallet holders increasing by 9.9% since October 10, reflecting growing confidence among institutional investors. The total cryptocurrency market cap has reached $3.8 trillion, with Bitcoin gaining 65% in Q4. Speculation around a U.S. Bitcoin reserve and comments from global leaders highlight Bitcoin's rising significance, despite concerns over market stability.
Anton Tkachev, a Russian lawmaker, has proposed the establishment of a strategic Bitcoin reserve, urging the Finance Minister to evaluate its feasibility. He argues that Bitcoin could serve as a stable alternative to traditional currencies, which are vulnerable to sanctions and inflation, and highlights its growing importance in global trade.This initiative follows President Putin's endorsement of Bitcoin as an "unstoppable technology" and a potential global reserve asset, particularly in light of the financial challenges posed by Western sanctions. The proposal reflects a broader trend among nations exploring cryptocurrencies as viable reserve options.
Russian State Duma deputy Anton Tkachev has proposed the establishment of a Strategic Bitcoin Reserve (SBR) to mitigate vulnerabilities in traditional foreign exchange reserves amid geopolitical instability. He advocates for Bitcoin as a stable alternative, highlighting its potential for substantial returns and its role in facilitating international trade for countries under sanctions. Tkachev's initiative aligns with a growing trend among nations exploring similar reserves, following supportive remarks from President Vladimir Putin on the inevitability of digital currencies.
A Russian lawmaker has proposed creating a national Bitcoin reserve to counter economic sanctions and enhance financial stability. Anton Tkachev's plan, which follows positive remarks from President Putin about Bitcoin, aims to leverage digital assets amid restricted access to global financial systems. This initiative could position Russia as a leader in adopting cryptocurrencies for national financial strategy, potentially inspiring other sanctioned nations to explore similar options.
The swift overthrow of Bashar al-Assad's regime in Syria by rebel forces has significant global implications, particularly for Russia and Iran, who are seen as major losers. The U.S., Turkey, and Israel emerge as key beneficiaries, with potential shifts in regional power dynamics and market confidence. Analysts warn of a possible power vacuum in Syria, which could lead to instability, while Turkey's influence may grow if a stable government replaces Assad.
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