Lawrence Jengar Aug 15, 2025 09:31 The Hong Kong Monetary Authority announces the re-opening tender for 3-year RMB HKSAR Institutional Government Bonds, aiming to support infrastructure projects with an additional RMB1.25 billion offering. The Hong Kong Monetary Authority (HKMA) has announced a significant tender for the re-opening of 3-year Renminbi (RMB) Hong Kong Special Administrative Region (HKSAR) Institutional Government Bonds. This tender, scheduled for Thursday, 21 August 2025, underscores the region’s ongoing commitment to infrastructure development, according to the Hong Kong Monetary Authority. Details of the Bond Offering The tender will involve the…
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I’m looking out at Alcatraz Island from a Mediterranean restaurant in San Francisco with hundred-dollar fish entrees on the menu. As I make small talk with other reporters, OpenAI CEO Sam Altman jumps through the door on my left. Altman’s looking down at his bare iPhone to show us all something, and an intrusive thought slips out of my mouth: “No phone case is a bold choice.” Of course, I immediately realize that the billionaire CEO of OpenAI, who employs Apple veteran Jony Ive, cares more about preserving the iPhone’s original design than the $1,000 it costs to replace one.…
Sen. Josh Hawley (R-MO) said he intends to investigate whether Meta’s generative AI products exploit, deceive, or harm children, after leaked internal documents showed the company’s chatbots were allowed to have “romantic” and “sensual” chats with children. “Is there anything – ANYTHING – Big Tech won’t do for a quick buck?” Hawley wrote in a post on X announcing the investigation. Hawley chairs the Senate Judiciary Subcommittee on Crime and Counterterrorism, which he says will commence a probe into whether Meta’s tech harms children, and “whether Meta misled the public or regulators about its safeguards.” Reuters broke the story after…
Key Takeaways SEC Chair Paul Atkins said President Trump’s executive order to allow crypto and private equity in 401(k) plans addresses a structural gap in US retirement policy. The SEC is updating custody regulations and aims to provide more regulatory clarity for crypto innovation in the U.S. Share this article SEC Chair Paul Atkins reiterated support for President Trump’s executive order opening 401(k)s to crypto and private equity, saying it will give retirement savers more options and could level the playing field with pensions. “Because the marketplace has changed a lot in the past few decades, where the number of…
For this article, I wanted to condense some of the things I’ve learned about the cryptocurrency market over the last 10 years. Crypto moves in cycles that feel like you’re listening to the same album, but every time you replay it, something’s changed. The melody’s similar, but the tempo’s changed, or the lead guitarist is now stoned, and the riffs are a lot slower than you remember them. In other words, it’s not a circle, it’s a spiral. The crypto market cycle has a rhythm of its own, but that rhythm is affected by external geopolitical factors. It’s never the…
Key Takeaways The Federal Reserve discontinued its special supervision program for banks involved with crypto and fintech. Oversight of crypto and fintech activities will now be incorporated into the Fed’s regular supervision framework. Share this article The Federal Reserve said Friday that it was ending its Novel Activities Supervision Program, which was created to strengthen oversight of banks engaged in emerging, technology-driven activities, especially crypto assets, distributed ledger technology (DLT), and complex fintech partnerships.The central bank is now moving oversight of those activities back into its standard supervisory process, saying it has built up sufficient understanding of these activities, their…
Aave’s daily fees increased by around 200% within the last three months. They hit multi-month peaks of over $3 million per day, indicating intensified borrowing. The surge reflects reinvigorated DeFi lending interest. Aave continues to dominate the DeFi lending market, this time attracting attention with serious figures. CoinGecko data shows daily fees on the blockchain have increased by more than 200% since May. That signals amplified on-chain activity and soaring demand for decentralised liquidity. Most importantly, the statistics signal DeFi borrowing resurgences. The chart shows AAVE’s 24-hour fees were below $1.2 million in early May. It had surpassed 43 million…
ChatGPT’s mobile app is raking in the revenue. Since launching in May 2023, ChatGPT’s app for iOS and Android devices has reached $2 billion in global consumer spending, according to a new analysis by app intelligence provider Appfigures. That figure is approximately 30-times the combined lifetime spending of ChatGPT’s rivals on mobile, including Claude, Copilot, and Grok, the analysis indicates. So far this year, ChatGPT’s mobile app has made $1.35 billion, up 673 percent year-over-year from the $174 million it made during the same period (January-July) in 2024, per the data. On average, the app is generating close to $193…
Key Takeaways Trump-backed American Bitcoin is eyeing acquisitions in Japan and Hong Kong to grow its Bitcoin reserves. The company plans to go public via a reverse merger and aims to build the largest and most efficient Bitcoin accumulation platform. Share this article American Bitcoin, a Bitcoin mining entity backed by Eric Trump and Donald Trump Jr., is in talks with investors about buying a listed company in Japan and potentially in Hong Kong, aiming to turn the acquisitions into regional crypto treasury vehicles, the Financial Times reported Friday.It’s the same playbook that Michael Saylor’s Strategy has used to amass…
Felix Pinkston Aug 15, 2025 10:05 The Hong Kong Monetary Authority (HKMA) reports a 2.5% decrease in credit card receivables for Q2 2025, signaling a shift in consumer credit behavior. The Hong Kong Monetary Authority (HKMA) has released its credit card lending survey results for the second quarter of 2025, revealing a notable 2.5% decline in total card receivables. This figure has dropped to HK$149.0 billion by the end of June, marking a significant decrease compared to the 5.8% reduction observed in the previous quarter, according to the Hong Kong Monetary Authority. Delinquency…