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On July 4, the South Korean Joint Chiefs of Staff reported that the South Korean military controlled a North Korean person who crossed the military demarcation line on the evening of the 3rd. The South Korean Joint Chiefs of Staff stated that after the South Korean military found the relevant personnel in the area of the military demarcation line in the central and western parts of the country on the evening of the 3rd, they tracked and monitored them, carried out induced operations, and then controlled the relevant personnel. At present, the relevant departments are investigating them. The Joint Chiefs of Staff also stated that as of now, the North Korean army has no special movements.According to a Reuters poll: 31 of 37 economists believe the Reserve Bank of Australia will cut the cash rate to 3.60% on July 8, while six believe the rate will remain unchanged. The median forecast of economists shows that the Reserve Bank of Australia will cut the cash rate to 3.10% by the end of 2025 (down from 3.35% in the May survey).Japanese government officials: Japans household spending growth in May was the fastest year-on-year since August 2022, and the month-on-month growth rate was the highest since March 2021.Trump praised U.S. Treasury Secretary Besant, U.S. Senate Republican leader Thune and U.S. House Speaker Johnson for the passage of the "Big, Beautiful Act."Japans total household spending in May was 4.7% year-on-year, in line with expectations of 1.20% and the previous value of -0.10%.

Tumbling bitcoin overshadows El Salvador’s crypto conference

Skylar Shaw

Nov 18, 2022 16:27

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The eagerly anticipated bitcoin conference in El Salvador, which was in the spotlight in 2021 after the small country became the first in the world to accept cryptocurrencies as legal tender, has lost its shine this time around due to a severe downturn in the world of digital currencies.


At the "Adopting Bitcoin: A Lightning Summit in El Salvador," which started on Tuesday and finishes on Thursday in the nation's capital of San Salvador, it was clear that prominent figures from the bitcoin community were missing, as were the vacant chairs.


Juan Fonseca, a 41-year-old Guatemalan who attended the conference, stated that the low pricing and other concerns create an uneasy environment.


Like other cryptocurrencies, bitcoin experienced a steep decline over the course of the year as investors fled riskier investments in response to U.S. Federal Reserve interest rate hikes and extremely high inflation.


Following the remarkable collapse of cryptocurrency exchange FTX, which is now trading around $16,600 from an all-time high of around $69,000 in November last year, Bitcoin, the biggest and best-known cryptocurrency in the world, has fallen even more.


Some enthusiasts consider the issues of today to be merely a passing phase.


Bitcoin exchange According to Paolo Ardoino, chief technical officer of the company, "Bitfinex will step up efforts to create a free, unstoppable, resilient, and open bitcoin and technological infrastructure for El Salvador."


The parent company of Bitfinex, Ifinex, has committed to assist with El Salvador's government to develop a framework for regulating digital assets and securities.


"El Salvador will emerge as Central America's financial and technological hub. After talking with El Salvador's president, Nayib Bukele, Ardoino stated that the noise wouldn't keep the builders from working.


The cryptocurrency will be accepted as legal tender alongside the dollar, according to Bukele, who announced on Twitter on Wednesday night that "we are buying one Bitcoin every day starting tomorrow."


According to unofficial calculations, his administration has so far purchased 2,381 bitcoins for a total of around $107 million.