(April 25): 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.

Totaling...

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

(April 12): FTX co-founder Sam Bankman-Fried will appeal his conviction and 25-year prison sentence for committing a multibillion dollar fraud at his once-thriving cryptocurrency exchange.

Bankman-Fried to appeal 25-year sentence, conviction for fraud

BERLIN/MEXICO CITY/WASHINGTON (April 25): Germany is waging a charm offensive inside the Republican Party. Japan is lining up its own Trump whisperer. Mexican government officials are talking to Camp Trump. And Australia is busy making laws to help Trump-proof its U.S. defense ties.

Eve...

How US allies are preparing for a possible second Trump term

Apex Research says Ramssol is kicking off the year with a blast

MORNING CALL: 25/4/24

KUALA LUMPUR (April 25): RHB Retail Research said NationGate Holdings Bhd is observing a technical breakout after climbing above the RM1.70 immediate resistance on surging trading volume.

In a trading stocks note on Thursday, the research house said that as such, the bullish momentum ma...

NationGate is observing a technical breakout, says RHB Retail Research 

KUALA LUMPUR (April 25): RHB Retail Research said Naim Holdings Bhd is likely to resume its uptrend after the recent consolidation above the 97.5 sen breakout level.

In a trading stocks note on Thursday, the research house said that coupled with strong trading volume, it expects the sto...

Naim Holdings likely to resume its uptrend, says RHB Retail Research 

(April 25): A disappointing earnings report from Meta Platforms Inc. has technology investors on edge with results from some of the stock market’s biggest and most important companies due in the coming days.

Shares of Facebook’s parent were down as much as 19% in after-hours trading and...

Meta’s miss sparks fear in tech world with big earnings looming

(April 25): Russia vetoed a United Nations Security Council resolution that would have reaffirmed a global commitment against deploying nuclear weapons in space, rebuffing US efforts to shine a spotlight on Moscow’s reported plans to do so.

The resolution underscored that countries are ...

Russia blocks US bid to reaffirm nuclear-arms ban in space

NEW YORK (April 25): Benchmark S&P 500 closed higher in choppy trading on Wednesday, as investors weighed an uptick in Treasury yields amid positive corporate results particularly from technology giants.

An auction of a record $70 billion worth of five-year U.S. Treasury notes on We...

S&P 500 ends higher as markets weigh rising yields, upbeat corporate results

WOLVERHAMPTON, England (April 25): Bournemouth snapped a three-game winless run in the Premier League with a 1-0 victory at former manager Gary O'Neil's Wolverhampton Wanderers on Wednesday courtesy of a first-half strike from Antoine Semenyo.

The win moved Bournemouth up to 10th place ...

Bournemouth back to winning ways with 1-0 victory over Wolves

LONDON (April 25): Crystal Palace made absolutely sure of Premier League safety with an impressive 2-0 home defeat of Newcastle United on Wednesday with both goals scored by Jean-Philippe Mateta.

It was a well-deserved win for the hosts while Newcastle's European hopes were dealt a blow...

Mateta double fires Palace to win over Newcastle

The daughter of a Chinese nickel billionaire purchased a multimillion-dollar mansion in Singapore, adding to the list of wealthy people seizing buying opportunities during the market lull.

Xiang Yangyang, the daughter of Xiang Guangda, who owns Tsingshan Holding Group Co, the world’s largest nickel and stainless steelmaker, agreed to buy the 2,612 sq m (28,111 sq ft) house in the country’s Bin Tong Park enclave, according to a property record seen by Bloomberg News.

Chinese metal tycoon’s heir buys US$62m Singapore mansion

Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday.

KLCCP, Suria Capital, Capital A, Calsberg, Hibiscus Petroleum, Chin Hin, OCR, Fajarbaru, I-Bhd, Farm Price, United Plantations, AME REIT, Axis REIT, MyEG

KUALA LUMPUR (April 24): Construction outfit Fajarbaru Builder Group Bhd has bagged a RM252.26 million contract from WCT Holdings Bhd to undertake Phase 1 of a two-phase development of two blocks of serviced apartments in Johor Bahru.

Fajarbaru Builder bags RM252m construction job in Johor Bahru from WCT

(April 25): A disappointing earnings report from Meta Platforms Inc. has technology investors on edge with results from some of the stock market’s biggest and most important companies due in the coming days.

Shares of Facebook’s parent were down as much as 19% in after-hours trading and...

Eden Inc Bhd’s major shareholder Tan Sri Abd Rahim Mohamad is proposing to settle a RM45.65 million debt his company owes Eden by transferring the ownership of a 2.4 million sq ft (about 55 acres) leasehold land to the listed entity.

Eden's major shareholder proposes land transfer to settle RM45.65m debt owed to company

KUALA LUMPUR (April 24): Suria Capital Holdings Bhd’s wholly owned Sabah Ports Sdn Bhd has roped in DP World, an Emirati multinational logistics company based in Dubai, to manage Sapangar Bay Container Port (SBCP), in a bid to cement the port’s position as a regional trade hub for the East Asean growth area spanning Brunei, Indonesia, Malaysia and the Philippines (BIMP-EAGA).

Suria Capital’s Sabah Ports ropes in Dubai’s DP World to manage Sapangar Bay Container Port

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EVENING 5: Five things you need to know today

The yen fell on Wednesday to its weakest levels against the dollar since 1990, with markets alert to any signs of intervention from the Japanese authorities to prop up their currency.

Japan's yen hits 155 per dollar, weakest since 1990

The High Court here on Wednesday dismissed a judicial review application by Musang King durian planters around Raub to challenge the Pahang government's decision to issue eviction notices against them.

High Court bins Musang King farmers’ bid to challenge land eviction notice in Pahang

The prosecution succeeded in its appeal at the Federal Court on Wednesday to forfeit RM1,112,700 from 79 investors involved in an illegal deposit-taking scheme.

Apex court allows forfeiture of RM1.11m belonging to investors of illegal deposit-taking scheme

TikTok's chief executive said on Wednesday that the company expects to win a legal challenge to block legislation signed into law by President Joe Biden that he said would ban the popular short video app used by 170 million Americans.

TikTok CEO expects to defeat US restrictions: 'We aren't going anywhere'

US President Joe Biden’s recent polling bump in key battleground states has mostly evaporated, as a deep current of pessimism about the trajectory of the US economy hurts his standing with voters.

Biden trails Trump in six of seven key states, poll shows

CapitaLand Malaysia Trust (CLMT) reported a 63% in its first quarter net property income to RM63.98 million from RM39.24 million a year ago, driven by full quarter revenue contribution from Queensbay Mall, higher occupancies and positive rental reversions.

CLMT’s 1Q net property income jumps 63% to RM64m, DPU up 37%

Benchmark S&amp;P 500 closed higher in choppy trading on Wednesday, as investors weighed an uptick in Treasury yields amid positive corporate results particularly from technology giants.

(April 25): 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.

Totaling...

The strategic collaboration between Sabah Ports Sdn Bhd (SPSB) and DP World, a global port terminal operator, will be a boon to Sabah’s aspiration to promote the Sepangar Bay Container Port (SBCP) as a key transshipment hub in the region, said Chief Minister Datuk Seri Hajiji Noor.

Hajiji: Tie-up between Sabah Ports, DP World to boost state’s aim to become transshipment hub

KOTA KINABALU (April 24): The Sabah government has a deficit of almost RM1 billion to carry out road repairs and maintenance works in the state, the state assembly sitting was told on Wednesday.

Sabah govt has a deficit of almost RM1b for road repairs, maintenance

The Nasdaq outpaced Wall Street peers on Wednesday, with Tesla leading gains among megacap stocks after its quarterly results, while upbeat earnings reports across other sectors also offered support.

Nasdaq outshines Wall Street peers on tech boost, earnings glee 

Cocoa resumed gains in New York, with prices the most volatile in almost five decades amid uncertainty over a historic crunch and as traders pull out of the market.

Cocoa price swings are the craziest since the 1970s

US and European shares finished mixed on Wednesday ahead of more corporate earnings this week, and the yen was mired near 34-year lows, keeping traders wary of intervention from Japan.

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