US not competing with Beijing on digital currency, says Fed chair

US not competing with Beijing on digital currency, says Fed chair

(ATF) China's rapid development of a heavily controlled digital yuan is not a model for Washington to emulate, Federal Reserve chair Jay Powell said on Wednesday, adding that the US would pursue its own research at its own pace. Powell, said the Fed's primary goal is not speed but avoiding …

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Google surges, Baidu lags for now

Google surges, Baidu lags for now

(ATF) Google ad sales rose +32% in the first quarter, enabling parent Alphabet to beat revenue estimates and a $50 billion share buyback announcement helped its shares to rise +4.5% after the US market closed on Tuesday April 27. Nasdaq-listed shares in Google's Chinese rival Baidu were unmoved but could …

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Musk drags down bitcoin after Tesla shares dip on results

Musk drags down bitcoin after Tesla shares dip on results

(ATF) Shares of Tesla fell more than 4% on Tuesday as its first-quarter earnings results failed to alleviate investor concerns, while the electric vehicle (EV) company's bitcoin selloff sent the cryptocurrency sinking. The automaker's quarterly revenue made it barely past estimates, relying mostly on sales of environmental credits sold to …

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MicroStrategy tops Tesla in corporate bitcoin assets

MicroStrategy tops Tesla in corporate bitcoin assets

(ATF) While Tesla's purchase of $1.5 billion worth of bitcoins hit headlines earlier this year, the US electric carmaker is far from the biggest corporate holder of the cryptocurrency, data released this week show. US business intelligence provider MicroStrategy has more than $5 billion in bitcoin assets, well ahead of …

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Japan sitting on digital currency edge but will it jump? 

Japan sitting on digital currency edge but will it jump? 

(ATF) Japan moved a step closer to creating its own central bank digital currency (CBDC) this week when its Ministry of Health, Labour and Welfare revealed it is looking into paying workers digitally. Having up until now taken a conservative approach to the implementation of a CBDC, Japan has in …

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Bitcoin plunges on China mining fears and concern about regulation

Bitcoin plunges on China mining fears and concern about regulation

(ATF) Bitcoin fell by over 15% before recovering some ground to $56,100 by late on Sunday April 18. The digital currency had been as low as $51,500 at one point in the day, or over 20% below the record of almost $65,000 seen last week just ahead of the direct …

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3 million users ditch Alipay insurance service Xiang Hu Bao

3 million users ditch Alipay service Xiang Hu Bao

(ATF) Chinese people have been more sceptical about products on Alipay since Ant Group's IPO was cancelled late last year. As the largest third-party payment platform and one of the most commonly used software in China, Alipay has an important position in the e-commerce sector, and its various services and …

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