Investors pulled a net US$218 million (RM1.04 billion) from US bitcoin exchange-traded funds, one of their worst daily outflows as demand for risky investments takes a knock from fading hopes for Federal Reserve interest-rate cuts.

US bitcoin ETFs suffer one of their worst outflows as digital token wavers

Binance co-founder Changpeng Zhao is facing up to three years in prison if efforts by US prosecutors to secure his sentencing prove successful. More than 160 friends, colleagues and investors are determined for the crypto executive to escape incarceration entirely.

Friends, family, royalty seek mercy for crypto’s richest man

The US Department of Justice (DOJ) recommended a 36-month prison sentence for Changpeng Zhao, the former chief executive officer of Binance, the world’s largest crypto exchange.

The sentence “will not just send a message to Zhao but also to the world”, the DOJ wrote in a court filing on Tuesday, adding the price for violating US law “must be significant to effectively punish Zhao for his criminal acts and to deter others”.

US seeks three-year prison sentence for ex-Binance CEO Zhao

The US Securities and Exchange Commission (SEC) wants to impose a US$5.3 billion (RM25.32 billion) fine on Terraform Labs Pte Ltd and its co-founder Do Kwon, the inventor of the failed TerraUSD stablecoin.

US regulator seeks US$5.3b fine for Terraform Labs, Kwon

Hong Kong is set to follow in the footsteps of the US by listing a batch of cryptocurrency exchange-traded funds (ETFs), providing a window on whether the city is making progress on fashioning a hub for digital assets.

Hong Kong's crypto ETF launches to test its ambition to be digital-asset hub

Digital payments company Block Inc, formerly known as Square, has finished the development of its Bitcoin mining chip as chief executive Jack Dorsey continues to advocate for a more accessible and decentralised system — an effort he’s championed since 2021.

Jack Dorsey’s block finishes development of Bitcoin mining chip

Crypto exchanges are eating into Binance’s share of bitcoin trading outside the US as overseas expansion efforts and changing regulations reshape the competitive dynamics of the digital-asset industry.

Binance’s rivals muscle in on bitcoin trading around the world

Bitcoin's so-called halving event has had little impact on its price so far, with industry insiders on Monday saying the cryptocurrency's fortunes were more closely tied to broader financial market sentiment and geopolitics.

Bitcoin enthusiasts had eagerly waited for the "halving" — a change to the cryptocurrency's underlying technology that happened around 0014 GMT on Saturday and is designed to cut the rate at which new bitcoins are created.

Bitcoin traders shrug off 'halving' to focus on broader market risks

A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.

Bitcoin ‘halving’ cuts supply of new tokens in threat to miners

A trader accused of exploiting Mango Markets rules to steal US$110 million (RM526.2 million) from the exchange was convicted of fraud in the first US trial involving criminal charges tied to cryptocurrency manipulation.

Crypto trader convicted in US$110m Mango Markets fraud

(April 18): The world’s largest crypto exchange Binance has converted the entire pool of assets held in an emergency fund for users into USDC, the stablecoin issued by US firm Circle Internet Financial.

Binance converts its billion-dollar ‘Safu’ emergency fund into stablecoin USDC

Federal jurors in New York heard sharply contrasting arguments on whether a trader manipulated the Mango Markets cryptocurrency exchange to steal US$110 million (RM527.1 million) or executed a perfectly legal strategy that was permissible under the rules of the platform.

Crypto trader’s US$110m manipulation case now with jury

Hong Kong gave initial approvals for asset managers to start spot bitcoin and Ether exchange-traded funds (ETFs), the firms said, a development that boosted both digital assets as well as the wider crypto market.

Hong Kong gives initial bitcoin, Ether ETF nod, issuers say

For enthusiasts of bitcoin, a once-every-four-years software update called the “halving” has long been held as one of the keys to propping up its value.

Bitcoin ‘halving’ will deal a US$10b blow to crypto miners

Wilmar International has posted net profit of US$302.9 million (RM1.44 billion) for the first quarter ended March 31 (1QFY2024), 22.6% lower y-o-y. Core net profit fell 14.0% y-o-y to US$328.4 million during the period.

Wilmar's 1QFY2024 core net profit falls 14% y-o-y to US$328m

Spanish inflation accelerated for a second month as the government continued to remove support that had helped keep a lid on soaring energy costs.

Spanish inflation quickens as government energy aid removed

RIYADH (April 29): The Securities Commission Malaysia (SC) on Monday signed a memorandum of understanding (MOU) with the Islamic Development Bank (IsDB) Group, paving the way for greater cooperation in Islamic capital market (ICM) and broadening the reach of Islamic fintech and social finance, particularly waqf.

SC partners Islamic Development Bank to advance Islamic capital market, social finance

The Philippines has closed schools down and warned of overloading on its power grid, as authorities across Southeast Asia issued a series of health alerts for a crushing and deadly heat wave.

Heat wave in Southeast Asia closes schools, triggers health alerts

Shares in LPI Capital Bhd snapped a three-day losing streak on Monday, after the general insurer reported a 37% net profit surge in the first quarter, thanks largely to sharply lower net expenses from reinsurance contracts held and higher investment income.

LPI Capital’s 1Q net profit surges 37%, shares snap losing streak after results

Automated test equipment maker ViTrox Corp Bhd, which has just seen its net profit halve in the first quarter of 2024, is expecting a gradual recovery in the semiconductor sector towards the second half of the year (2H2024) and is continuing to ramp up its research and development (R&D) investments in anticipation of that.

ViTrox to continue to ramp up R&D investment on anticipated semiconductor recovery in 2H2024

KUALA LUMPUR (April 29): The government is currently studying amendments to the Sexual Offences Against Children Act 2017 (Act 792) to address the challenges posed by present day technology, including artificial intelligence (AI).

Azalina: Govt studying amendments to Sexual Offences Against Children Act due to technological challenges

Japan’s top currency official opted to keep market players in the dark over whether Tokyo had intervened in the currency market on Monday, following a sharp move in the market that sliced 2% off the dollar-yen exchange rate.

Japan opts to keep traders in dark on whether it intervened in yen

HULU SELANGOR (April 29): Pakatan Harapan (PH) candidate Pang Sock Tao on Monday uploaded her academic results in the Ujian Pencapaian Sekolah Rendah (UPSR) and Sijil Pelajaran Malaysia (SPM) in reply to the challenge raised by PAS information chief Ahmad Fadhli Shaari recently.

KKB by-election: Pang takes up challenge to reveal academic results

When Deutsche Bank AG announced its takeover of British investment bank Numis in April last year, some in the City of London wondered whether their cultures would mesh. A year on, changes are becoming visible.

Deutsche Bank merger ends boutique freedom for Numis dealmakers

QSR Brands (M) Holdings Bhd is suspending over 100 KFC outlets temporarily nationwide after about half a year of boycott movement, Nanyang Siang Pau reported, citing information from Google Maps.

Boycott causes over 100 KFC outlets to suspend ops, report says

Berjaya Corp Bhd (BCorp), which last week denied that its founder Tan Sri Vincent Tan Chee Yioun had participated in talks to revive a US$100 billion (RM477.60 billion) Forest City casino resort as reported recently, has lodged reports for the police to commence investigation into the above matter, specifically to, amongst others, ascertain and find out the purported “unnamed source” who disseminated complete untrue and false statements.

Berjaya Corp lodges police report to identify 'unnamed source' in Forest City casino resort debacle

Shares of YTL Power International Bhd and YTL Corp Bhd rose to fresh highs on Monday as investors piled on stocks with exposure in artificial intelligence (AI).

YTL Power, YTL Corp touch new highs

Shares of YNH Property Bhd surged to their highest in three weeks after the real estate developer said it has remedied the technical default of its sukuk programme.

YNH Property surges 11% to three-week high after default remedy

KUALA LUMPUR (April 29): Mercury Securities Sdn Bhd has recommended investors to “subscribe” to ACE Market-bound Farm Price Holdings Bhd at an initial public offering (IPO) price of 24 sen and a fair value (FV) of 29 sen based on 13x FY2024F earnings per share, translating to 21% upside to IPO pr...

Mercury Securities advises investors to subscribe to ACE Market-bound Farm Price with fair value of 29 sen 

Engineering solutions provider Kawan Renergy Bhd on Monday began taking orders from investors for its ACE Market initial public offering (IPO) that would raise up to RM33 million.

Kawan Renergy sets IPO price at 30 sen apiece in bid to raise RM33m 

Real estate developer UOA Development Bhd said it plans to launch two new projects worth an estimated RM2.7 billion in gross development value (GDV) this year.

UOA Development to launch two projects worth RM2.7b by June

Top Glove Corporation Bhd bagged the Platinum Trusted Brand Award in the Hygiene/Disposable Gloves category at the Reader’s Digest Malaysian Trusted Brand 2024 awards.

AAX, Capital A lift off on merger proposal to extend rally

Three people, including a two-year-old boy, died after a Huawei-backed Aito M7 SUV burst into flames following a collision with a truck on a highway in the Chinese city of Yuncheng in the northern province of Shanxi, state media said.

China crash involving Huawei-backed Aito electric vehicle kills three

TotalEnergies, a global energy supplier based in France, has stated its commitment to increasing its investment in Malaysia’s upstream oil and gas (O&amp;G) sector, said Prime Minister Datuk Seri Anwar Ibrahim.

TotalEnergies has stated commitment to boost investment in Malaysia's upstream O&G sector — Anwar

When South Korea decided to host a US anti-ballistic missile system, the lucrative flow of tourists from neighboring China suddenly dried up. When Australia accused Beijing of meddling in its domestic politics and demanded answers over the origins of Covid-19, China stopped buying exports like coal, wine and beef.

US ramps up help as countries plan response to China’s bullying

Shares of Turiya Bhd rallied on Monday to their highest in over three years after Tan Sri Mohan MK Swami and his partner agreed to acquire a 58% stake in the property management firm for RM52.86 million.

Turiya rallies to over three-year high with entry of Mohan Swami, partner

Shares in LPI Capital Bhd snapped a three-day losing streak on Monday, after the general insurer reported a 37% net profit surge in the first quarter, thanks largely to sharply lower net expenses from reinsurance contracts held and higher investment income.

SUPERMAX Holdings Sdn Bhd (SHSB), which holds 40.3% in Supermax Corp Bhd, is the subject of a winding-up petition.

SHSB is the private company of Datuk Seri Stanley Thai and his wife, Datuk Wira Cheryl Tan Bee Geok. The couple, who have been and still are having differences in their rel...

Newsbreak: Supermax's Cheryl Tan seeks to wind up holding company

An appliance maker in southern China is finding it hard to ship its products to Russia, not because of any problems with the gadgets but because China's big banks are throttling payments for such transactions out of concern over US sanctions.

China firms go 'underground' on Russia payments as banks pull back

After eight consecutive weeks of net selling, foreign investors shifted to become net buyers on Bursa Malaysia last week, with a total investment of RM292.2 million.

MIDF: Foreign investors ended eight weeks of selling with total inflow of RM292m last week

The yen jumped suddenly against the dollar on Monday, with traders citing yen-buying intervention by Japanese authorities to try to underpin a relentless tumble in the currency to levels last seen over three decades ago.

Japan's yen jumps against the dollar on suspected intervention

Malakoff Corp Bhd has inked a partnership with China Northeast Electric Power Engineering &amp; Services Co Ltd (NEPCS) for technical manpower supply for the operation and maintenance (O&amp;M) of combined cycle power plant (CCPP) projects under NEPCS in Bangladesh.

Malakoff inks deal to expand operation and maintenance services to Bangladesh

The yen jumped sharply against its peers on Monday after it slid past 160 per dollar earlier in the session, leading to speculation that Tokyo could have intervened in the currency market while the country was out for a holiday.

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