The US Securities and Exchange Commission (SEC) has granted approval for 11 spot bitcoin exchange-traded funds (ETFs), marking a significant milestone for the cryptocurrency industry. This long-awaited regulatory approval comes after years of demand from the industry, and it paves the way for greater institutional participation in the bitcoin market.
The approved ETFs, which are tied to the spot price of bitcoin, will soon begin trading in the US. This development is expected to attract a broader range of investors, including traditional asset managers like BlackRock, Ark Investments/21Shares, Fidelity, Invesco, and VanEck. The entry of these major players into the bitcoin market could potentially lead to increased liquidity and stability.
In another move that highlights the growing interest in digital currencies, Circle Internet Financial has confidentially filed for an initial public offering (IPO) in the US. The company, which is behind the stablecoin USDC, plans to become a publicly-traded company. Stablecoins like USDC are cryptocurrencies pegged to the value of a traditional currency, in this case, the US dollar.
Meanwhile, the US and the UK have launched military strikes in the Red Sea in response to attacks on commercial ships by Houthi rebels. The strikes were conducted to protect personnel and ensure freedom of navigation in the vital commercial route. The action involved support from countries like Australia, Bahrain, Canada, and the Netherlands, sending a clear message against such threats.
Google has announced layoffs across multiple teams as it continues its efforts to cut costs. The tech giant is letting go of hundreds of employees, including co-founders of Fitbit, James Park and Eric Friedman. The layoffs are part of Google’s broader restructuring strategy, with the company making reductions in its Voice Assistant unit, hardware team, and augmented reality (AR) team.
Tesla has reduced prices for its domestically produced Model 3 and Model Y in China, signaling further discounting amid a slowdown in the country’s electric car market. The price cuts aim to make Tesla’s vehicles more affordable and competitive in the world’s largest electric car market.
China’s commerce minister has expressed concern over US restrictions on chip-making technology exports. The US has been using export controls to limit China’s access to advanced chips and chip-making tools, which are crucial for AI development and military applications.
In Argentina, rising meat and vegetable prices have made traditional asado barbecues unaffordable for many. Inflation in the country is expected to have exceeded 200 percent in 2023, one of the highest levels in the world. This has resulted in a significant impact on people’s wallets as salaries and pensions fail to keep up with the rising grocery costs.
Microsoft briefly surpassed Apple in market capitalization, becoming the most valuable publicly traded company globally. However, Apple quickly regained the top spot, and the positions continued to fluctuate throughout the trading session.
Former American vice president Al Gore and former Boeing CFO James Bell will be stepping down from Apple’s board after over 20 years of service. Their retirement will take place at the upcoming annual shareholder meeting, and Wanda Austin, former CEO of Aerospace, is expected to succeed them pending a shareholder vote.
Tesla has implemented pay increases for factory workers in the US as part of a “market adjustment.” This move follows similar wage increases by other major car companies, signaling a shift in the industry’s approach towards improving compensation for workers.
Overall, these developments across various sectors reveal the dynamic nature of the business and economy, with regulatory approvals, military actions, layoffs, price adjustments, and personnel changes shaping the landscape.
The source of the article is from the blog elperiodicodearanjuez.es