MONEY MASTER

Quick Summary US stocks extended losses , with tech and crypto leading the sell-off Nasdaq 100 suffered its worst three-day drop since April Bitcoin plunged to around US$64,000 , wiping out gains since Trump’s election Weak US jobs data and AI valuation fears  intensified risk-off sentiment What’s Driving the Sell-Off A fresh wave of selling hit Wall Street as investors reassessed  lofty valuations tied to AI, software and crypto , just as  US labour data showed cracks  in economic momentum. The  S&P 500 fell 1.2% , while the  Nasdaq 100  extended its steepest three-day rout in months. Selling broadened beyond growth stocks, with  nine of 11 sectors  in the S&P 500 declining. Tech & AI in the Crosshairs Big Tech earnings added fuel to the fire: Amazon  sank after flagging  even heavier spending  on data centres and chips Microsoft  and  Alphabet  also slid on concerns that massive AI investments may...

Quick Summary Bitcoin plunged over 10% to around US$65,000 , dragging crypto-linked stocks down more than 15% Options data shows no mass exit  — traders are rotating strategies, not abandoning crypto HUT sees short-term put selling , signalling stabilisation rather than a bounce MSTR attracts longer-dated call buying , pointing to rebound expectations over weeks to months What Happened A sharp selloff in  Bitcoin  sent shockwaves through the crypto ecosystem. Mining stocks and Bitcoin treasury names were hit hard, with  Hut 8  and  MicroStrategy  each falling  more than 15% in a single session . Despite the severity of the move,  options markets tell a calmer story . HUT: Volatility Selling Signals Short-Term Stabilisation After HUT slid to around  US$46 , options traders did  not  rush to buy downside protection. Instead: Near-dated puts were sold , clustered around  US$46–US$48 This reflects a view that  immediate d...

China’s biggest tech firms are pressing pause on their stablecoin ventures after regulators in Beijing stepped in to curb private-sector involvement in digital currency issuance. According to a  Financial Times  report,  Ant Group  and  JD.com —two of China’s largest fintech players—have suspended plans to launch stablecoins in  Hong Kong , following directives from the  People’s Bank of China (PBOC)  and the  Cyberspace Administration of China (CAC) . Regulatory Pushback Halts Hong Kong’s Stablecoin Momentum The move comes just months after  Hong Kong’s legislature passed a landmark stablecoin bill in May , establishing a licensing regime for fiat-backed stablecoins. The new framework aimed to position Hong Kong as a regulated digital asset hub and attract global issuers. However, the intervention from Beijing highlights lingering concerns over  monetary control and financial stability . Chinese authorities reportedly worry that al...

  Key Takeaways Eric Trump, EVP of the Trump Organization, called China “a hell of a power” in crypto despite its 2021 ban on digital token trading. He spoke at the  Bitcoin Asia conference in Hong Kong , highlighting both China and the US as the two “bitcoin superpowers.” Eric Trump predicted  bitcoin could reach US$1 million  in the coming years, urging long-term holding. Comments come as US President Donald Trump seeks a  summit with Xi Jinping , following sweeping global tariffs earlier this year. China’s Role in Crypto While China has officially banned cryptocurrency trading since 2021, residents have continued to  circumvent restrictions , keeping the country influential in global digital asset markets. Trump and investor David Bailey suggested China remains a key player, though neither provided detailed reasoning. US Stance Under Trump Administration The US has taken a sharply different approach, with President Trump actively  embracing the indu...

GameStop Diversifies: Bitcoin Investment on the Horizon In a move that's catching the attention of investors and crypto enthusiasts alike,  GameStop  (GME) has officially announced its plans to invest in  Bitcoin . The company's board unanimously approved an update to its investment policy, signaling a shift towards digital assets as part of its strategy to drive new growth. Key Takeaways: Bitcoin as a Reserve Asset : GameStop has confirmed that it will add Bitcoin to its treasury reserve assets, following recent speculation. However, the company has not shared specific details on the amount or timeline of this investment. Mixed Q4 Earnings : For the fourth quarter ending February 1, GameStop reported  net sales of $1.28 billion , falling short of the expected $1.48 billion. However, the company exceeded earnings expectations with  adjusted earnings of 29 cents a share  compared to the 8 cents analysts had anticipated. Challenges in Core Business : While Ga...

  Key Takeaways: Cryptocurrency Rally Fueled by Tariff Relief Hints:  Cryptocurrencies are soaring, with  Bitcoin (BTC)  reaching over  $88,750  and  Ethereum (ETH)  breaching  $2,100 .  Dogecoin (DOGE)  also saw a significant 5.89% jump. The rally is linked to  President Donald Trump's  hints about tariff relief for certain countries, which fueled optimism in both the  stock market  and  cryptocurrency  markets. Bitcoin’s Impressive Momentum:  Bitcoin surged by 1.57%, crossing  $87,627  and briefly touching its highest price in two weeks. It faces a critical point where if it manages to reclaim the  21-EMA  as support, it could breakout to  $93,500 , according to  Rekt Capital , a well-known cryptocurrency analyst. Short Squeeze and Market Sentiment:   Over $158 million  worth of short positions were liquidated in the past 24 hours, with an additional  ...

Eurozone finance ministers  expressed concerns that the  U.S. government’s embrace of cryptocurrencies  could pose risks to  Europe's monetary sovereignty  and  financial stability . Their worries come after  President Trump  signed an executive order to create a  strategic reserve of cryptocurrencies  using tokens already owned by the U.S. government, signaling a shift in policy from the previous administration. Key Takeaways: Policy Shift in the U.S. : The U.S. administration’s new stance on  cryptocurrencies , especially  dollar-denominated stablecoins , has sparked concerns in Europe. Trump’s move to embrace cryptocurrencies as part of the U.S. financial system contrasts with past U.S. policies, raising alarms about the impact on European financial stability. Impact on Europe’s Monetary Sovereignty :  Paschal Donohoe , Chairman of the Eurogroup, highlighted that such developments in the U.S. could directly affect ...

Losses from  cryptocurrency platform hacks soared to US$2.2 billion (RM9.9 billion)  in 2024, marking a  21% increase  compared to the previous year, according to a report by blockchain analysis firm  Chainalysis . Key Highlights Surge in Hacks and Stolen Funds Hacked funds surpassed US$1 billion  for the fourth consecutive year. 303 incidents  were reported in 2024, up from  282 in 2023 , when  US$1.8 billion  was stolen. Factors Behind the Rise The surge coincided with  bitcoin’s 140% rise , surpassing the  US$100,000 mark  this year, attracting institutional investors and increased market activity. Compromises to private keys  controlling user assets were the primary method of theft, with  centralized platforms  as the main targets. Notable Hacks in 2024 DMM Bitcoin (Japan) : Over  US$305 million  stolen in May. WazirX (India) : Lost  US$235 million  in July. North Korea's Record Invol...

  Gapping Up Deere (DE.US): +1.6% after surpassing Q4 earnings forecasts despite challenging market conditions. MicroStrategy (MSTR.US): +13% surge amid widespread gains in cryptocurrency-related stocks. Marathon Digital Holdings (MARA.US): +11% increase, riding the wave of the cryptocurrency sector's strong performance. Snowflake (SNOW.US): +23.3% spike after raising its annual product revenue outlook and announcing a collaboration with AI firm Anthropic to enhance cloud offerings. Novartis AG (NVS.US): +0.2% following improved growth projections, signaling confidence in future performance. Logitech International (LOGI.US): +1% after UBS upgraded its rating to ‘neutral’ from ‘sell’ , citing a stabilizing risk-reward outlook. Gapping Down NVIDIA (NVDA.US): -0.7% after a disappointing revenue forecast hinted at slower quarterly revenue growth, contrasting with its recent robust performance. Palo Alto Networks (PANW.US): -2.8% despite beating quarterly revenue and profit ex...

Bitcoin has soared past $90,000 for the first time following an election-fueled rally that began on Nov 5, when President-elect Donald Trump claimed victory. The original cryptocurrency reached a new peak of $91,085 , driven by expectations of crypto-friendly policies under Trump’s administration, including plans for a strategic Bitcoin stockpile and a regulatory environment favorable to digital assets. Trump’s shift from crypto skeptic to supporter has sparked renewed investor confidence across the digital asset market, pushing the entire crypto market's value to an all-time high. However, some analysts caution that while further gains are possible, much of the optimism may already be priced in. Dogecoin , the meme-inspired token, has been another standout performer, rallying by 80% in recent days . This rise was fueled in part by Trump’s announcement of a new Department of Government Efficiency , co-led by Elon Musk, which many viewed as a nod to Dogecoin’s community. In tra...

MicroStrategy Inc. has purchased 27,200 Bitcoin for approximately $2.03 billion , marking one of its largest acquisitions of the digital asset to date. The purchases were made from Oct. 31 to Nov. 10, using proceeds from stock sales, the company announced. This latest acquisition raises MicroStrategy's total Bitcoin holdings to nearly 279,420 Bitcoin , now valued around $23 billion based on Bitcoin’s recent record price of over $82,000 . The Tysons Corner, Virginia-based firm has invested approximately $11.9 billion in Bitcoin, with an average purchase price of $42,692 per Bitcoin , inclusive of fees and expenses.

Bitcoin surged to a record above US$82,000 on Monday, fueled by expectations of a crypto-friendly regulatory environment following Donald Trump’s presidential election victory . Trump has championed digital assets, vowing to make the US the "crypto capital of the planet" and to build a national bitcoin stockpile. The world’s largest cryptocurrency, bitcoin has more than doubled from this year’s low, reaching US$82,236 after touching a peak of US$82,527 . Crypto stocks also surged, with Coinbase Global up over 16% and Riot Platforms gaining more than 10%. The crypto industry heavily backed pro-crypto candidates in Congress, leading to wins in key states and potentially easing regulatory scrutiny. Trump’s stance signals a shift from the SEC’s recent tight regulation under Chair Gary Gensler , whom Trump has pledged to remove. ETF inflows hit a record with US$1.38 billion pouring into bitcoin ETFs post-election, driven by rising investor confidence. Deutsche Bank an...

Evelyn Tao Yaqiong, the wife of Zhu Su, co-founder of the defunct cryptocurrency hedge fund Three Arrows Capital (3AC), has sold her Singapore mansion for S$51 million (US$38.5 million) . The luxury property, located on Dalvey Road near the Singapore Botanic Gardens, was initially purchased for S$28.5 million in 2020 and redeveloped before its recent sale. Despite a court-imposed freeze on some of Zhu and Tao’s assets , this property transaction went through successfully. Zhu’s fortunes have sharply declined since 3AC’s collapse in 2022, which led to regulatory bans and a brief jail term due to non-compliance with liquidation efforts. The mansion was acquired by Chrispianto Karim , a member of the Indonesian Karim family, which owns the Musim Mas Group, a major palm oil conglomerate based in Singapore.