News

Jinse Finance reported that the Singapore dollar remained range-bound against the US dollar during the Asian trading session, supported by risk-on investor sentiment. US stocks closed higher overnight as investors regained their appetite for risk. OCBC Global Markets Research stated in a report that the market appears to widely believe that the Federal Reserve will cut interest rates at next week's Federal Open Market Committee meeting. The USD/SGD exchange rate was little changed, quoted at 1.2955.

Jinse Finance reported that the Australian Bitcoin Industry Body (ABIB), a cryptocurrency industry organization, has filed a formal complaint with the Australian Broadcasting Corporation (ABC), requesting a correction to a recent report containing multiple false statements and factual errors about bitcoin. In its complaint, the association stated that the report portrayed bitcoin as a highly volatile asset and a tool for criminals, while ignoring bitcoin's value in grid optimization and humanitarian aid. "This report distorts the core use of bitcoin, conflates it with criminal activity, omits long-standing publicly available information, and is not based on facts. Instead, it uses sensational language to mislead readers," the Australian Bitcoin Industry Body (ABIB) accused.