Speculative activity remains closely tied to global funding rates, highlighting crypto’s growing “interconnectedness” with traditional finance, a BIS report claimed. Hundreds of billions of dollars in cross-border cryptocurrency payments flow globally, driven primarily by speculative investment, according to a recent report by the Bank for International Settlements (BIS). The BIS study, published May 8, found cross-border payments using the two largest cryptocurrencies, Bitcoin (BTC) and Ether (ETH), and the two largest stablecoins, USDt (USDT) and USDC (USDC), totaled about $600 billion during the second quarter of 2024, the final observation period covered by the analysis. “Our findings highlight speculative motives and global funding conditions as key drivers of native crypto asset flows,” the BIS said. Read more
Distributie Energie Electrica Romania (DEER), a member company of the Electrica Group, has completed an investment of RON17 million for the modernization of the electricity distribution infrastructure in the locality of Sacele, Brasov County.
Real estate developer Hagag Development Europe, held by businessman Yitzhak Hagag, plans to turn into hotel the old office building of the former Institute of Hydroelectric Studies in capital Bucharest.
The Pakistan Stock Exchange (PSX) gained a record nine per cent on Monday — the restored calm in the market mirroring that in the region after the recent Pakistan-India ceasefire that boosted investor mood. Saturday’s ceasefire, announced by US President Donald Trump, followed four days of tit-for-tat strikes between the nuclear-armed neighbours, as well as diplomacy and pressure from Washington. The KSE-100 index opened with a gain of 9,929.48 points, or 9.26pc, to stand at 117,104.11 points from the previous close of 107,174.63 at 9:30am. Due to the massive gains, the PSX was suspended for an hour after opening to control excessive volatility. Later in the day, the benchmark index reached as many as 117,327.78 points — 10,153.15 points (9.47pc) higher than yesterday’s close, at 3:15pm. This marked the highest intraday gain (points-wise) — more than double the 4,700 points surge in November 2024. Finally, the KSE-100 closed at 117,297.73 points, with a gain of 10,123.10 points (9.45pc) compared to the previo...
Vitalik Buterin backs RISC-V, an open-source chip architecture, to future-proof smart contracts with greater decentralization, lower costs and long-term hardware independence. RISC-V, pronounced “risk five,” is a modern open-source instruction set architecture (ISA) based on reduced instruction set computer (RISC) principles. In simple terms, it’s like a blueprint that defines a set of instructions that a processor can execute. RISC-V is designed to be highly modular, efficient and flexible. Originally developed by the University of California in 2010, the open-source framework gives developers the flexibility to tailor its functionality and use cases, plus offers cost savings compared to proprietary ISAs like ARM or x86. This offers a wide range of uses, from supercomputers to smartphones and now blockchains like Ethereum. Read more