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Binance users withdraw $1B as CEO faces charges

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Binance users have withdrawn nearly $1 billion from the cryptocurrency exchange following the resignation of its CEO, who is now facing potential legal troubles.

The abrupt departure of the CEO has sent shockwaves through the crypto community, raising concerns about the future of one of the world’s largest crypto platforms.

CEO Changpeng Zhao, stepped down amidst mounting regulatory pressure and investigations into Binance’s operations.

Reports suggest that authorities in several countries are probing the exchange for potential violations related to money laundering, securities laws, and tax evasion.

This uncertainty has prompted Binance users to take action, moving their assets out of the exchange.

The exodus of funds has left Binance scrambling to reassure its users and investors.

The exchange has vowed to cooperate fully with regulatory authorities and conduct a thorough internal review to address any compliance issues.

However, the damage to its reputation may be substantial, and questions loom about the impact of these developments on the broader cryptocurrency market.

 

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Australia’s GST debate heats up amid tax reform push

Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.

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Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.


Australia is facing a fierce debate over tax reform, with fresh calls to broaden the Goods and Services Tax as the government searches for more stable revenue streams. With an ageing population putting pressure on health, pensions and long-term spending, economists argue the current reliance on personal income tax may not be sustainable.

Dr Steven Enticott from CIA Tax joins Ticker to break down the real impact of expanding the GST, including how it could affect lower-income households, whether taxing unrealised gains would change investor behaviour, and what compensation mechanisms could soften the blow on essential goods. The political risks are high, but so are the fiscal stakes.

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Big tech stocks slide amid AI spending concerns

Tech giants like Microsoft and Amazon lose billions as investors prioritize earnings over AI, while TSMC and Samsung thrive.

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Tech giants like Microsoft and Amazon lose billions as investors prioritize earnings over AI, while TSMC and Samsung thrive.

Microsoft, Amazon, Apple, Nvidia, and Alphabet have all suffered steep losses this year, with Microsoft dropping 17% and Amazon falling nearly 14%. Investors are growing cautious as AI spending concerns weigh heavily on valuations.

This shift signals a market focus on immediate earnings rather than the long-term promise of AI, marking a notable change in investor sentiment across the tech sector.

Despite the setbacks for these giants, the tech landscape is not uniform, with other companies managing to grow despite market turbulence.

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AI fears rattle global markets and investors

AI developments cause market volatility, with European software and US tech firms facing significant declines amid rising uncertainty.

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AI developments cause market volatility, with European software and US tech firms facing significant declines amid rising uncertainty.

Global stock markets are experiencing heightened volatility as concerns about AI disruption sweep across industries. Investors are closely monitoring which sectors could be most affected as the technology continues to evolve.

Recent announcements from major US AI companies sent waves through international markets, highlighting the interconnected nature of global finance and technology. European software giants such as Dassault Systèmes and RELX saw significant declines, underscoring the global reach of AI developments.

UBS analysts warn that the impact of AI disruption could intensify in 2026 and 2027, with potential ramifications for a wide range of sectors.


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