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Octava Minerals Limited (ASX:OCT) (“Octava” or the “Company”), a Western Australia focused explorer of the new energy metals antimony, REE’s, Lithium and gold, is pleased to report that laboratory assays have now been received from the two metallurgical core drillholes at the Byro REE’s / Li Project in the Gascoyne Region of Western Australia.

Highlights

  • Assay results received from metallurgical drilling at the Byro REE & Li Project confirm historic REE / Li mineralisation intercepts.
  • Intercepts of over 50m from surface with grades including 500ppm Total Rare Earth Oxides (TREO) with 20% magnetic REE’s, 375ppm Lithium Oxide (Li2O) and 523ppm Vanadium Pentoxide (V2O5).
  • Mineralisation has been intercepted in historic drilling over 30km of strike.
  • The drilling was to provide fresh samples of the Byro black shale to undergo metallurgical extraction testwork.

Octava’s Managing Director Bevan Wakelam stated;

”Octava is investigating the potential for Australia’s first, large scale, low cost sedimentary basin deposit of REE’s, lithium and base metals. Metal extraction from black shales is a proven, low- cost technology used in other operations around the world. We will commence initial metallurgical testwork to determine the viability of extracting these metals from the black shale at Byro. We look forward to providing further updates as this work proceeds.

The Byro Project is located on the Byro Plains of the Gascoyne Region, Western Australia, 220km south-east of Carnarvon and consists of two granted Exploration Licences – E 09/2673 and E 09/2674 – totalling 798 km2. The Byro Project also has Native Title agreements in place. Nearby infrastructure includes accessibility to a commercial port (Geraldton) and power from the NW gas pipeline and future potential access to Western Australian government proposed green energy sites.

Two metallurgical HQ3 coreholes were drilled for a total of 204m. The holes were drilled adjacent to previously drilled RC holes to confirm mineralisation and to provide fresh sample material for metallurgical testwork.

The Byro project lies at the centre of the Permian Byro Sub-basin of the Carnarvon Basin. The Byro Group hosts sedimentary packages of sandstones, siltstones and mudstones, including black shales and coal seams. The dominant unit in the tenure is the Bulgadoo shale, which consists of banded carbonaceous shale and arenite, containing beds of enriched pyrite, bivalves and bryozoans.

The black shales in the Byro sub basin appear to have formed a metal sink that contains large volumes of anomalous REE, Li and base metals. The source of the metals at Byro is likely the Archean basement rocks of the Yilgarn Craton located ~40km to the east. The REE host rocks at Byro have been transported to their current location, unlike typical REE clay exploration targets in Australia which are formed in situ, from weathered granitic basement rocks.

Permian Black shales are known worldwide for their potential to host enriched poly-metallic deposits. These deposits contain considerable volumes of lower concentration resources of base metals, rare earths, lithium and other strategic minerals. They offer the opportunity for large-scale, low-cost mining operations capable of supplying the metals for a number of years. Octava is examining the black shales at the Byro project for the same potential.

Click here for the full ASX Release

This post appeared first on investingnews.com

Here’s a quick recap of the crypto landscape for Monday (February 24) as of 9:00 p.m. UTC.

Bitcoin and Ethereum price update

Bitcoin (BTC) is currently trading at US$94,006.38 reflecting a decrease of 1.9 percent over the past 24 hours. The day’s trading range has seen a high of US$95,658 and a low of US$93,775.

Ethereum (ETH) is priced at US$2,640.58, marking a decline of 5.58 percent over the same period. The cryptocurrency reached an intraday high of US$2,678 and a low of US$2,633.

Altcoin price update

  • Solana (SOL) is currently valued at US$151.06, down 9.8 percent over the past 24 hours. SOL experienced a high of US$158 and a low of US$150 during Monday’s trading session.
  • XRP is trading at US$2.43, reflecting a 4.8 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday high of US$2.48 and a low of US$2.40.
  • Sui (SUI) is priced at US$3, showing a 9.9 percent decrease over the past 24 hours. It achieved a daily high of US$3.19 and a low of US$2.98.
  • Cardano (ADA) is trading at US$0.7176, reflecting a 6.4 percent decrease over the past 24 hours. Its highest price on Monday was US$0.7327, with a low of US$0.7133.

Crypto news to know

Hackers steal US$1.5 billion from Bybit in ‘biggest digital heist ever’

Cryptocurrency exchange Bybit has suffered what is believed to be the largest digital theft in history, losing US$1.5 billion worth of Ethereum to hackers this past Friday (February 21).

The Dubai-based platform reported that the attacker gained access to one of its Ethereum wallets during a routine transfer between cold and warm storage, successfully moving the funds to an unknown address.

Bybit CEO Ben Zhou has reassured users that the exchange remains solvent and has enough funds to cover losses, ensuring all customers are fully reimbursed.

However, the platform has experienced a surge in withdrawal requests, causing processing delays. In response, Bybit has offered a 10 percent reward — up to US$140 million — for assistance in recovering the stolen funds.

Some security analysts suspect the involvement of North Korean state-backed hacker group Lazarus, known for previous large-scale crypto heists.

Ethena raises US$100 million for institutional token

Bloomberg reported on Monday that Ethena, the issuer of stablecoin USDe and token ENA, has raised US$100 million in a private sale of ENA to fund a new token aimed at institutional investors.

This new token will be built on Ethena’s blockchain and will be similar to USDe, but with added features to comply with financial regulations, potentially paving the way for greater institutional adoption of Ethena’s products.

Strategy’s Bitcoin stockpile nears 500,000

Strategy (NASDAQ:MSTR), formerly MicroStrategy, completed the sale of US$2 billion worth of convertible senior notes due in 2030 in a private offering to institutional investors, the company announced on Monday.

As expected, CEO Michael Saylor also disclosed the acquisition of 20,356 additional Bitcoin for roughly US$1.99 billion, bringing the company’s total holdings to 499,096 acquired for US$33.1 billion, or US$66,357 each. Rounding the current Bitcoin price down to US$94,000, the holdings are worth about US$46.92 billion.

Nasdaq seeks to list Hedera ETF

The Nasdaq has applied to list an exchange-traded fund (ETF) designed to hold the Hedera Network’s native token, HBAR, according to a 19b-4 form filed with the US Securities and Commission Exchange on Monday.

The token is one of a very small number of cryptocurrencies starting the week in the black, up 0.3 percent in 24 hours to US$0.21 at the time of this writing. If approved, the ETF would be managed by Canary Capital, which filed to list a proposed Canary HBAR ETF in November.

Citadel Securities eyes increased crypto market involvement

Sources for Bloomberg said financial firm Citadel Securities is looking to increase its involvement in the cryptocurrency market by joining the roster of approved market makers on major exchanges like Coinbase, Binance and Crypto.com. If approved, the firm plans to set up international teams, according to people familiar with the matter.

Testing begins for Ethereum’s Pectra upgrade

Ethereum will initiate the testing phase of its latest upgrade, Pectra, on the Holesky testnet at epoch 115968 on Monday, marking another advancement in Ethereum’s ongoing development.

The Pectra upgrade is designed to enhance the network’s scalability, security and overall efficiency, addressing some of the current limitations of the Ethereum blockchain such as transaction fees and network congestion.

This testing phase will help developers identify potential issues before the upgrade is deployed on the Ethereum mainnet, which is scheduled for later this year.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

South Korean President Yoon Suk Yeol faces a string of legal battles as the suspended leader fights to save his political career – and avoid prison – following his brief imposition of martial law last year.

Yoon’s December 3 decree threw South Korea into turmoil when he banned political activity and sent troops to the heart of the nation’s democracy – only to reverse the move within six hours after lawmakers forced their way into parliament and voted unanimously to block it.

The decree was swiftly met by widespread public anger, reviving painful memories of strongmen leaders who curtailed rights and freedoms in the country after the Korean War until its transition to democracy in the late 1980s.

Even several members of Yoon’s own conservative ruling party turned on him. On December 14, parliament voted to impeach him, suspending his presidential powers.

But a defiant Yoon has vowed to “fight to the end,” as the country’s top court reviews his impeachment and as he also appears in a separate criminal trial for insurrection.

Here’s what we know.

What’s happening in Yoon’s impeachment trial?

South Korea’s Constitutional Court will decide whether to remove Yoon from office permanently or reinstate him. It is now reviewing his impeachment by parliament after hearing weeks of testimony by high-ranking current and former officials.

Lawyers for parliament have argued that if Yoon is reinstated, he could try to impose martial law again or undermine constitutional institutions.

Yoon has argued that he had a right as president to issue his martial law decree. The former prosecutor-turned-politician said his move was justified by political deadlock and threats from “anti-state forces” sympathetic to North Korea.

Lawyers for Yoon have also argued that he never actually intended to stop parliament from operating, even though the order was publicly declared, and troops and police were deployed to the legislature.

Yoon also sent troops to the National Election Commission and later said the decree was necessary, in part, because the body had been unwilling to address concerns over election hacking, a claim rejected by election officials.

A ruling in the impeachment case is expected in March.

If the Constitutional Court upholds Yoon’s impeachment, he would become the shortest-serving president in South Korea’s democratic history, having taken office in May 2022. The country must then hold new presidential elections within 60 days.

If Yoon’s impeachment is upheld, it would also remove his immunity from most criminal charges.

What other charges does he face?

Prosecutors indicted Yoon on separate criminal charges related to his martial law decree of leading an insurrection. He was arrested in January after a weeks-long standoff between investigators and his presidential security team. He has since been held in solitary confinement at a detention center near Seoul.

Insurrection is one of the few criminal charges from which a South Korean president does not have immunity. It is punishable by life imprisonment or death, although South Korea has not executed anyone in decades.

The indictment alleges that Yoon’s imposition of martial law was an illegal attempt to shut down the National Assembly and arrest politicians and election authorities. Yoon has said his decree was intended as a temporary warning to the liberal opposition and that he always planned to respect lawmakers’ will if they voted to lift the measure.

Yoon’s lawyers have also repeatedly argued that his arrest was politically motivated and that the warrant was invalid because of flaws in the way the investigation was conducted.

The next preliminary hearing for the criminal proceedings is set for the end of March.

Yoon’s insurrection trial is expected to take months. A verdict could be reached by late 2025 or early 2026, according to legal analysts.

Meanwhile, the court is reviewing a request by Yoon’s lawyers to revoke his arrest order and release him from custody, though such challenges are rarely successful.

What important details did we learn from Yoon’s trial?

The impeachment proceedings offered dramatic details illustrating how Yoon and the military enacted the ultimately short-lived martial law order.

South Korea’s former Defense Minister Kim Yong-hyun said it was he, not the president, who first proposed the ill-fated brief period of military rule.

Kim said he wrote the controversial decree himself, which included a sweeping ban of political activity across South Korea.

“All political activities, including the activities of the National Assembly, local councils, and political parties, political associations, rallies and demonstrations, are prohibited,” the martial law decree said.

Both Yoon and Kim strongly denied ordering military commanders to “drag out” lawmakers inside the National Assembly. However, former Army Commander Kwak Jong-geun consistently testified he received direct orders from Yoon himself to forcibly remove assembly members.

Kim and lawyers for Yoon maintained the order was misheard – arguing the Korean word for lawmakers was confused with the similar sounding word for agents or soldiers.

Former first deputy director of the National Intelligence Service (NIS) Hong Jang-won also repeatedly testified Yoon told him to take advantage of martial law. He said Yoon described it as an opportunity to “arrest” a list of 14 political and legal adversaries and to “clean everything up” – which Yoon denies.

Possibly not: Yoon also faces the prospect of another legal battle.

Police have been investigating Yoon on suspicion of the special obstruction of public duty since around January 3, a police spokesperson told Reuters on February 22.

The crime is punishable by up to five years in jail.

A South Korean court issued an arrest warrant for Yoon on December 31 in the criminal investigation over his martial law decree. The warrant, however, was not executed until January 15 after Yoon did not comply, remaining holed up in his heavily fortified presidential compound as the Presidential Security Service blocked investigators for days.

In the months since Yoon’s martial law declaration, South Korea has been in political disarray with parliament also voting to impeach its prime minister and acting president Han Duck-soo. Finance minister Choi Sang-mok is now acting president.

Additional reporting by Reuters and the Associated Press.

This post appeared first on cnn.com

Australia learned about Chinese live-fire naval drills off the country’s coast that forced dozens of flights to be diverted via an alert from a commercial pilot, authorities said on Monday.

The People’s Liberation Army (PLA) Navy’s unprecedented show of firepower in waters between Australia and New Zealand has raised alarm in both countries in recent days as a clearer picture emerges of how much warning Beijing gave about the exercises.

The first notice of the Chinese drills in the Tasman Sea came in a radio transmission on an emergency frequency monitored by a Virgin Australia passenger jet on Friday, according to Australian officials.

The Virgin pilot relayed the information to Australian aviation authorities, who then issued a “hazard alert” via air traffic control, Airservices Australia CEO Rob Sharp told a parliamentary hearing.

Airservices Australia Deputy CEO Peter Curran told the hearing that at least 49 aircraft diverted their flight paths on Friday to avoid the flotilla of three Chinese warships conducting the exercise.

The New Zealand and Australian governments said China did not issue a Notice to Airmen (NOTAM) about the drills, which they said took place in two rounds in the Tasman Sea on Friday and Saturday.

A NOTAM tells aviators about airspace changes and can be issued up to seven days before events like the live-fire drills, according to US authorities.

China’s Ministry of Defense said Sunday that the exercises conducted in international waters complied with international law and did not affect aviation safety. It also slammed Australia for “hyping up” the drills and making “unreasonable accusations.”

Though the drills were held in international waters, Beijing could have given Australia and New Zealand a heads-up much sooner in the interests of safety, naval experts said.

Defense analyst Jennifer Parker, a former Australian naval officer, wrote in a blog post Sunday that the Chinese ships did not violate international law and were well within their rights to conduct the live fire drills where they did, in the open ocean.

“It’s not aggressive, it’s just what warships do on the high seas,” Parker wrote. “There is no legal obligation for foreign warships to notify coastal nations over 300 nautical miles away about live firing activities on the high seas.”

But Parker said the Chinese ships may not have followed best practices, under which live-fire drills should maintain a safe distance from commercial flight routes.

“Indications from flight diversions suggest that the Chinese warships may have been too close to civilian air transit routes. If this is the case, it represents poor practice that warrants diplomatic discussion,” she wrote.

Analyst Carl Schuster, a former US Navy captain, was blunter.

“Forcing aircraft to divert from their internationally recognized routes is considered unsafe and irresponsible,” Schuster said.

Australia’s Prime Minister Anthony Albanese said on Saturday that while China’s drills complied with international law, Beijing “could have given more notice.”

Judith Collins, the defense minister of New Zealand, said China’s warning should have come hours earlier.

“There was a warning to civil aviation flights, that was basically a very short amount of notice, a couple of hours, as opposed to what we would consider best practice, which is 12-24 hours’ notice, so that aircraft are not having to be diverted when they’re on the wing,” she told public broadcaster Radio New Zealand (RNZ).

‘Standard procedure’

By Tuesday, the Chinese ships had moved to about 160 miles east of Hobart on the southern island of Tasmania, and Australian and New Zealand defense forces were monitoring their movements, the Australian Defense Ministry said.

Australian officials said Monday that flight diversions continued throughout the weekend but did not cause any major disruptions to air traffic.

In such circumstances it’s best to exercise caution, analysts said.

“Airliners listen out on the standby radio to the 121.5 international distress frequency. The naval group will contact the aircraft on 121.5 before it reaches a ’threat’ range and demand it alter course to avoid overflight,” said Byron Bailey, a former Emirates airline senior captain.

“It is standard procedure not to overfly a naval battle group,” he said.

Bailey recounted how, when flying a 777 airliner over the Persian Gulf, a US Navy aircraft carrier strike group once ordered him to alter his course to avoid going over the US flotilla.

The PLA Navy ships – a frigate, a Type 055 destroyer and a replenishment vessel – had been sailing down the coast of Australia since mid-February, according to the Australian Defence Force.

Collins, the New Zealand defense minister, said the Chinese naval exercises were unprecedented in those waters.

“We’ve certainly never seen a task force or task group of this capability undertaking that sort of work,” Collins told RNZ.

While the exercises may be a first for China in the southern waters, such maneuvers are standard practice around the world, including by Australia and its allies in the South China Sea.

“Australia does this on our deployments, and we should avoid overreacting,” said Parker, the Australian analyst.

That fact was noted by Chinese netizens on social media, where the PLA Navy deployment has received significant attention.

“Our 055 went to Australia for live-fire exercises, and they conducted them twice,” one person wrote on X-like platform Weibo, referring to the powerful Chinese surface vessel in a post that hinted at tensions around the South China Sea’s contested Paracel Islands, which Beijing calls the Xisha Islands.

“We should have used this way to communicate long ago. I think the Australian side will understand! If you intrude my Xisha Islands, I will come to your doorstep.”

But Bailey, the former Emirates senior captain and a former Australian air force fighter pilot, said it was China that was being provocative.

The PLA Navy drills were “unprofessional and deliberately disrespectful,” he said. “The PLAN was just ‘giving the finger’ to Australia and New Zealand.”

This post appeared first on cnn.com

Broadcaster YTN aired dashcam footage showing the towering deck of the overpass suddenly collapsing and slamming onto the road below.

The massive road network is still being built and no passenger cars were around the construction site.

Acting Interior and Safety Minister Koh Ki-dong urgently ordered relevant agencies, including the fire and police departments, to “mobilize all available equipment and personnel for rescue efforts, while ensuring the safety of firefighters,” according to the ministry’s press release.

This post appeared first on cnn.com

Millions of people in sub-Saharan Africa rely on money sent to them by relatives living abroad.

But it costs more to send this money — known as remittances — to sub-Saharan Africa than any other region in the world, according to the World Bank.

In recent years, a number of African-founded financial technology (fintech) companies have emerged, with the aim of bringing down costs and carving into the dominant market share of traditional players like Western Union and MoneyGram.

The potential benefits are huge; the less it costs to send money to Africa, the more money is likely to be sent. An increased flow of foreign currency can act as a lifeline for both individuals and national economies.

Worth $54 billion to sub-Saharan Africa in 2023, remittances account for more than a fifth of GDP of the Gambia, Lesotho, and Comoros, and more than a tenth of Liberia, Cape Verde, and Guinea-Bissau. They are more valuable to Kenya than its key exports.

And estimates are generally assumed to be lower than the real figure due to the prevalence of unrecorded payments made through informal networks.

“Not only do (remittances to low-and-middle income countries) exceed foreign direct investment and official development assistance (combined), but it also somehow remains constant,” said Christian Kingombe, managing partner of “impact investment” advisor 4IP group, and formerly with the African Development Bank. “So it is really a very important source of development,” he added.

The problem with cash

Sending money to sub-Saharan Africa costs the sender an average of 8.37% of the total value of the transaction, as of Q2 2024, according to the World Bank, compared to 5.53% in South Asia. How can fintechs bring that number down?

The first challenge is to move customers away from making cash payments.

A survey by Visa found that 12% of global consumers still send remittances by mail as cash, checks or money orders.

Processing cash is more expensive than digital money, explained Andy Jury, CEO of Mukuru, a big remittance player serving Africa and founded by a Zimbabwean entrepreneur, that processes both cash and digital payments, because cash requires a large physical infrastructure, including booths, tellers, and supplies of cash.

While the average cost of sending money to sub-Saharan Africa is the highest in the world, the cost of digital remittances to the region is less than the global average. If more Africans sent money home via digital services rather than cash, average remittance fees should fall, but receiving money online requires the internet, which is used in sub-Saharan Africa by only 37% of people, according to the World Bank.

Even when users have access to mobile apps, it’s not always easy to persuade them to move over from the tried and trusted cash model.

“Imagine a world in which you’ve grown up in a cash-to-cash ecosystem — it’s a sort of leap of faith to leave your money in this esoteric, intangible thing,” explained Jury. “(But) if you get somebody to use it, they educate themselves on the benefit, and they can get that ‘aha!’ moment. That’s the most powerful conversion tool.”

It’s mainly young people who are making the switch, said Nicolai Eddy, COO of NALA, a remittance fintech founded in Tanzania that facilitates payments to 11 African countries and last year raised $40 million from investors. “It’s really like 35 (year olds) and below where there’s a huge focus on the digital side of things,” he said. “People in their fifties and sixties, they’re used to the person at the shop who they know, and they just continue to go there.”

Building trust is a challenge, but with a growing youth population and a steady flow of migrants moving abroad, the potential user base is expanding.

Bypassing the middlemen

Luring customers over from cash is one piece of the puzzle. But digital payments have their own costs.

Historically, sending money to Africa via a remittance company has been a complex process involving many different parties. “It’s so bloody difficult to move money around,” said Jury.

The middlemen — mainly the third parties used to move money between banks, and the foreign exchange traders who find and negotiate the best rates — all want a cut, and they can drive up costs and cause delays.

In recent years, fintechs — like NALA, Flutterwave, LemFi, Chipper Cash, Leatherback, and many more — have emerged with a model of cutting out the middlemen and enabling instant payments.

Many of these new fintechs hold liquidity in every country in which they operate, explained Eddy. This allows them to deposit funds directly into the local bank account or digital wallet of the receiver instantly. Often, these companies use their own software wherever possible to move money around, as well as having their own teams to negotiate on the foreign exchange market, removing the reliance on third parties.

“We’re cutting out two steps, in some cases it’s like five or six steps,” explained Eddy.

But bypassing the middlemen is not easy. As well as developing in-house software, it means working directly with banks and governments to acquire licenses to transfer money internally within African countries, each of which has different requirements.

Sending money between African countries can be especially costly; in Q4 of 2023, fees were an average of 33% for remittances of $200 from Tanzania to neighboring Kenya, Uganda, and Rwanda.

“We’ve got 50 different payment use case licenses in 15 different territories, and that’s taken nearly two decades to build up,” said Jury. “Very few environments have alignment in terms of what they require; one market might require a passport as proof of identity, another one might take a driver’s license. All of that variability increases the costs.”

Although still in its infancy, the Pan African Payment Settlement System (PAPSS) is designed to unify regulation across different African countries.

“I love that sort of stuff because it creates harmony,” said Jury. “Whether it’s centrally dictated, whether it’s ourselves creatively integrating (with other fintechs), we’re constantly on the lookout for those things.”

Regulation

The UN has targeted a global average of 3% for remittance fees. According to Eddy, the biggest inhibitor for fintechs in Africa to lower their costs is the fees charged by banks and digital wallets for locally depositing money to receivers. He wants governments to limit fees for things like sending money to family. “If they cap those fees for those types of transactions, we could be processing at 1% (total fees),” he said.

But according to Dr Joseph Antwi Baafi, senior lecturer at Akentien Appiah-Menka University of Skills Training and Entrepreneurial Development in Kumasi, Ghana, governments should focus on helping to reduce operating costs for remittance fintechs and the companies that operate digital wallets in Africa.

“Governments (can play) a huge role in terms of infrastructure support, in terms of tax support, to help these network operators to operate at their full capacity and full efficiency. And that will bring down charges,” he said.

For Jury, the key to success is to tailor the product to the user’s needs.

“If you come at this with a Silicon Valley mind(set) where you’re going to take a small proposition, throw lots of money (at it) and scale it up, you come unstuck very quickly,” Jury said.

“But if you can take a global platform or infrastructure and ensure you appreciate the local idiosyncrasies and invent something that’s relevant to a customer, there’s a massive, massive tidal wave of opportunity coming.”

This post appeared first on cnn.com

Taiwan’s coast guard detained a cargo ship and its Chinese crew on Tuesday and said it was investigating whether the vessel had deliberately cut an undersea internet cable, in the latest possible breach of the island’s communication lines.

The vessel suspected of damaging the cable connecting Taiwan to its outlying Penghu Islands carried a “flag of convenience” and was crewed by eight Chinese nationals, Taiwan’s coast guard said in a statement.

A “flag of convenience” vessel is one that flies the flag of a country other than the country of ownership.

The ship “Hong Tai,” registered in the West African nation of Togo with Chinese funding, had been lingering near the cable in waters off the southwestern coast of Taiwan since Saturday evening and did not respond to multiple broadcasts from Taiwan’s coast guard, the statement added.

Shortly after the ship dropped anchor in the early hours of Tuesday, Taiwan’s telecom company Chunghwa Telecom detected that the cable had been disconnected.

The coast guard said it intercepted and boarded the vessel, before escorting it back to a port in the city of Tainan for investigation.

Taiwanese authorities said they could not rule out the possibility of a Chinese “gray zone operation,” a coercive or subversive act that falls below the threshold of war.

“Whether it was an intentional act of sabotage or purely an accident needs to be further probed,” the coast guard said in the statement, adding that the matter is now under investigations by prosecutors “in accordance with national security-level guidance.”

In recent years, multiple undersea telecoms cables around Taiwan have suffered suspicious damage.

In January, Taiwanese authorities said a Chinese-linked cargo vessel could have cut an international undersea cable off the island’s northern coast.

In 2023, Taiwan officials blamed Chinese ships for two incidents in which cables connecting Taiwan’s main island to its outlying islands of Matsu were damaged, causing an internet blackout. They stopped short of saying the acts were deliberate.

The incidents have raised concerns among Taiwan authorities of “gray zone” activities that could hamper the island’s internet and communications with the outside world.

Those concerns come as Taiwan has faced increasing intimidation from Beijing, which claims the self-ruled democracy as its own territory and has vowed to take control of it, by force if necessary.

They also follow a string of incidents in recent years of damage to undersea infrastructure worldwide, including communications cables. Two high-profile incidents in the Baltic Sea involved Chinese ships and remain under investigation.

According to NATO chief Mark Rutte, more than 95% of internet traffic globally is carried via undersea cables, with some 1.3 million kilometers of such cabling securing an estimated $10 trillion dollars of international trade daily.

This post appeared first on cnn.com

Bitcoin attracts bold predictions. Recent forecasts show that this top cryptocurrency may soon hit Bitcoin Reach $200000. Many trusted sources, including Yahoo Finance, CoinDesk, Bloomberg, and CNBC, have reported this forecast. This public news reflects rising optimism among market experts amid changing economic conditions.

Market Sentiment and Economic Drivers

Many analysts believe that economic uncertainty and rising prices create a strong chance for Bitcoin to serve as a safe asset. Investors now see Bitcoin as a reliable store of value. They shift funds to cryptocurrencies when they lose trust in traditional assets. In addition, new regulations in key markets push both large and small investors to spread their money across various assets.

Technical Analysis and Price Trends

Technical data supports a potential price surge. Long-term charts show an upward trend, while short-term drops offer good buying points. Trading volumes and network activity grow each day. Experts point to a limited supply and high demand as key reasons that Bitcoin Reach $200000 upto.

Investor Implications and Risk Management

Investors must stay alert in this volatile market. They should manage risk by diversifying their portfolios. Many experts advise reviewing holdings and allocating funds wisely. They also recommend keeping up with the latest market news and technical signals to guide decisions.

Conclusion

This forecast that Bitcoin may reach $200,000 comes from strong market sentiment, positive technical trends, and a unique economic climate. However, investors face a volatile market that demands caution. Experts urge both individual and institutional investors to monitor these trends closely and prepare for various market moves.

While reaching $200,000 is not guaranteed, this forecast offers valuable insight into the ever-changing crypto market. It shows that the market can shift quickly and that informed decisions are key. Investors should act wisely and stay updated on news and trends. By doing so, they can protect their investments and uncover new opportunities in the fast-paced world of cryptocurrencies.

The post Could Bitcoin Reach $200000? Market & Expert Insights appeared first on FinanceBrokerage.

There’s been a lot of wild speculation surrounding gold’s bullish run. When you consider a gold investment, you’re likely to think of the more common factors that come into play: inflation, geopolitical uncertainty, and central bank demand. 

But there’s more to the mix now, especially in light of the Trump administration’s latest initiatives and policies. These new developments are spurring speculations that are likely to change the context surrounding how investors view gold. Here are a few key things to think about:

  • Around 12.5 million ounces of gold have been imported into the US since last November.
  • President Trump announced a possible audit of Fort Knox gold reserves which hasn’t been done since the early 1970s (is it all still there?).
  • The US government’s gold valuations remain at an outdated $42.22 an ounce.

The big rumor (keyword: rumor) is that gold is due for a revaluation. Will Trump use the revaluation to boost the value of the Treasury’s holdings, possibly paying down the national debt? Will his administration attempt a partial return to the gold standard? Will the gold be used to counter China’s reported attempt at launching a gold-backed currency to challenge the US dollar? 

Whatever the case may be, a full revaluation is likely to drive bullish sentiment in gold, sending prices higher. If the government sells gold to weaken the dollar, you can expect some short-term price dips before a rebound. And if, by any chance, the Fort Knox audit reveals a shortfall, then that’s bad news for the economy and markets but good news for gold, which will likely send prices skyrocketing.

To get some near-term context, let’s see how gold has been performing over the last year relative to silver, commodities in general, and the S&P 500.  

FIGURE 1. PERFCHARTS OF GOLD, SILVER, COMMODITIES MARKETS, AND THE S&P 500. Gold and silver outperformed both the broader stock and commodities markets over the past year. Chart source: StockCharts.com. For educational purposes.

It turns out that both gold and silver have been outperforming the broader equities and commodities markets.

Let’s take a long-term view of gold. Below is a weekly chart

FIGURE 2. WEEKLY CHART OF GOLD FUTURES. There are no signs of topping yet, though its ascent has grown increasingly steep. Chart source: StockCharts.com. For educational purposes.

If volume precedes price, then accumulation, as shown by the Accumulation/Distribution Line (ADL) on the chart, has stayed well ahead of it for a little over three years. Momentum-wise, the Relative Strength Index (RSI) may be registering as “overbought” but the reliability of this indicator in the current environment is anyone’s guess.

Trump’s policy blitz is transforming the political and economic landscape, and it brings certain shocks that can make technical and fundamental analysis more fluid. For now, there are no clear signs of topping, which makes it difficult for anyone interested in finding an entry point. So, let’s zoom in on a daily chart.

FIGURE 3. DAILY CHART OF GOLD. There are still no signs of a top except for the declining buying pressure indicated by the Chaikin Money Flow indicator. Chart source: StockCharts.com. For educational purposes.

There are still no clear signs of near-term weakness, aside from a slight drop in buying pressure indicated by the Chaikin Money Flow (CMF). If gold pulls back, the $2,900 high will likely serve as the first support level. Additional support zones, marked by the magenta lines, align with key swing highs and lows based on the Zig Zag lines.

The final three levels define a broad trading range and coincide with the Volume by Price indicator, highlighting areas of concentrated trading activity where support is most likely to hold. If prices retreat, these levels will be crucial to watch for a potential rebound. So, right now, it’s a matter of waiting for a pullback.

Silver is another asset that has outperformed commodities and the broader market. Might the grey metal present a tradable opportunity? Below is a daily chart to consider.

FIGURE 4. DAILY CHART OF SILVER. The grey metal has room to run but watch your entry point. Chart source: StockCharts.com. For educational purposes.

The RSI indicates that silver has more upside to go before reaching an overbought level. Note the relative performance window that I plotted in a manner that replicates the well-known gold/silver ratio (lower panel) . 

Historically, this ratio has averaged around 65:1 since the 1970s, meaning it typically takes 65 ounces of silver to equal the value of one ounce of gold. Note that every time the ratio reaches the 90-line silver tends to rally. 

Silver is currently rallying, but is another entry point on the horizon? Possibly, but patience is key. This relative performance setup highlights the value of the gold/silver ratio in identifying potential silver entry points, whether for short-term trades or long-term positions.

At the Close

Monitor “spot” $GOLD and $SILVER by adding them to your ChartLists. However, you may be interested in entering trades using their ETF equivalents in GLD and SLV. The prices will differ from their spot price, but the chart patterns that define your entry will be highly correlated, given a few slight adjustments.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Let me start by reminding everyone that I believe the most important relationship in the stock market is how consumer discretionary stocks (XLY) perform relative to consumer staples stocks (XLP). This ratio (XLY:XLP) has a VERY strong positive correlation with the S&P 500. In other words, when the S&P 500 advances, a corresponding rise in the XLY:XLP ratio is to be expected. When it doesn’t rise to corroborate the benchmark’s rally, it typically leads to lack of S&P 500 follow through.

I’ll show you visually what this positive correlation looks like since the turn of the century:

From this chart alone, it’s clear that what happens to consumer stocks, and their relationship to one another, really matters in the grand scheme of things.

Now let’s look at an intraday chart of the XLY and XLP from last week:

The top panel is the XLY and the bottom panel is the XLP. Does anything seem odd to you? Well, for me, the action on Friday and the disparity between the performance of both consumer stock groups really stands out. And when I did some research, I found that this type of disparity where the XLY underperforms the XLP by such a large margin has occurred only 10 times since the financial-crisis-related bear market that ended in March 2009. 8 of those times happened during bear markets and 1 happened during a correction. Friday was the 10th. This type of massive rotation from offense to defense should not be overlooked.

In early January 2025, I hosted our MarketVision 2025 event. At that time, I indicated that we were set up for a challenging Q1 and a potential market correction and, on Friday, we got confirmation. I expect we’re going to see much more selling in the coming weeks.

But how much? I plan to discuss that in my next free EB Digest article on Monday. To start your FREE subscription (no credit card required), CLICK HERE and join tens of thousands of other like-minded traders and investors, and find out what to expect over the balance of Q1.

Happy trading!

Tom