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Trump will meet with Hungarian Prime Minister Viktor Orbán to discuss Russian oil and economic cooperation.Sources say Japans Ministry of Finance is considering a regular mid-year review of its government bond issuance plans.JPMorgan Chase raised its target price for GlaxoSmithKline from 1,400 pence to 1,500 pence.November 7th - The impact of gold on the Thai currency has fallen to its lowest level in nearly two years, suggesting that policymakers efforts to curb the bahts appreciation may finally be starting to pay off. Data shows that the 60-day correlation between the baht and gold fell below 0.43 earlier this week, the lowest level since November 2023. The 30-day and 45-day correlations, reflecting recent volatility, also fell to their lowest levels since February. Thai authorities have been trying to weaken the bahts link to gold by encouraging gold transactions to be settled in US dollars and considering a tax on physical gold transactions. In June 2023, the 60-day correlation between the baht and gold reached 0.8. Officials said this correlation exacerbated the bahts rise to a four-year high in September, putting pressure on exports and tourism. "The risk of potential fiscal or monetary policy measures is a moral deterrent," said Kobsidthi Silpachai, head of capital markets research at Kasikornbank in Bangkok. He believes this "seems to have deterred speculators from participating in gold long and USD/THB short trades."Market news: Google will build a new artificial intelligence data center at a small outpost in the Indian Ocean off the coast of Australia.

New FTX chief says bankrupt crypto exchange could restart

Skylar Shaw

Jan 20, 2023 11:43

According to Chief Executive Officer John Ray, the bankrupt cryptocurrency exchange FTX is considering ways to resurrect its operations. He made the announcement to the Wall Street Journal on Thursday.


According to Ray, who took over the company's leadership in November, a task group has been established to look at reviving FTX.com, the organization's primary international exchange.


The CEO also said in an interview with the Journal that he would research if resurrecting FTX's international exchange would generate more value for the company's clients than his team could get by simply selling the platform or liquidating its assets.


Following the news, FTT, the native token of FTX, increased by around 30%.


I'm relieved Mr. Ray is now only pledging to restart the exchange after months of blocking such attempts! Sam Bankman-Fried, the founder and former CEO of FTX, said in a tweet.


Bankman-Fried said, "I'm still waiting for him to eventually acknowledge FTX US is solvent and return clients' money.


An inquiry for comment from Reuters was not immediately answered by an attorney representing FTX.


Bankman-Fried is accused of robbing the exchange's users of billions of dollars to settle debts accrued by his cryptocurrency-focused hedge fund, Alameda Research. He's denied the allegations of fraud.


Customer money' future, however, is still unknown. In a note to creditors earlier this week, FTX said that since declaring bankruptcy in November, hackers had stolen nearly $415 million in cryptocurrency from its worldwide and American exchanges.


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