Crypto derivatives exchange Deribit and trading software provider SignalPlus have announced 'The Island,' a 35-day trading competition featuring a prize pool of up to $600,000 USDC for eligible retail traders.
Analysts at Bernstein describe the current Bitcoin downturn as 'rather comforting,' noting its 54% correction is significantly shallower than the 75-90% drawdowns seen in previous cycles, suggesting increased market maturity.
The blank-check company and the Bitcoin investment firm have scrapped their initial deal, citing the need for new terms that reflect current market conditions. The parties will attempt to negotiate a revised transaction.
U.S. Treasury yields declined on Monday after the June nonfarm payrolls report came in significantly below expectations. Investors are now awaiting the release of the Federal Reserve's latest meeting minutes for further guidance on monetary policy.
South Korea has initiated nearly round-the-clock trading for its currency, the won, a major reform aimed at improving access for foreign investors and securing an upgrade to developed market status from index provider MSCI.
Taiwan's central bank intervened in the foreign exchange market in June, causing the nation's forex reserves to fall to $597.15 billion amid a strengthening U.S. dollar.
The Bank of Israel delivered its second consecutive interest rate cut, lowering the benchmark rate to 3.50% as policymakers prioritize countering the shekel's persistent strength and its impact on exporters.
The South African rand traded in a narrow range against the U.S. dollar as investors looked to the upcoming release of Federal Reserve meeting minutes for clues on the future path of interest rates.
The central bank lowered its benchmark rate for the second consecutive time by 25 basis points, citing the negative impact of a strong currency on exporters and moderate inflation expectations.
