Noor Bazmi

Islamabad

Writer at Cryptopolitan

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Articles

Asian stocks and US market show mixed moves as oil and gold edge up

2 days ago | cryptopolitan.com | Noor Bazmi

Asian and US stocks showed mixed moves recently, while oil and gold edged up slightly due to the weakening dollar. At the same time, the euro held near a three-and-a-half-year high. The overall mood in the markets improved after a ceasefire between Israel and Iran appeared to hold, easing fears of oil supply disruptions and lifting market sentiment. Still, MSCI’s broadest index of Asia-Pacific stocks was up only slightly, while Tokyo’s Nikkei climbed 1.6 percent to reach a four-month peak.
EU plans new rules for global stablecoins despite ECB warnings

3 days ago | cryptopolitan.com | Noor Bazmi

Brussels plans to bring in new rules for stablecoins, even though the ECB warns those rules could shake up banks when markets get volatile. The European Commission, the EU’s executive branch, plans to issue formal guidance in the coming days, according to the Financial Times. This will allow stablecoins made outside the union to count the same as those issued inside when they bear the same brand.
TSMC plans major share sale to tackle currency risk

3 days ago | cryptopolitan.com | Noor Bazmi

TSMC Global Ltd., the overseas unit of Taiwan Semiconductor Manufacturing Co., said it plans to issue $10 billion of new stock to strengthen its forex hedging amid swings in the Taiwan dollar. TSMC Global said in a statement, reported by Bloomberg, that this move will help it manage exchange-rate risk. It is the third such deal since 2024 and the largest so far. Like the earlier transactions, this one comes as the Taiwan dollar has strengthened, giving the unit more capital to cover its hedges.
Tesla’s woes in Europe continue despite Musk’s public divorce from politics

3 days ago | cryptopolitan.com | Noor Bazmi

Tesla’s electric car sales in Europe have continued their drop for a fifth straight month, even after the company introduced its Y model and Elon Musk quit his political activities in the US. According to the European Automobile Manufacturers’ Association, Tesla delivered 13,863 battery-only cars in the UK and wider Europe in May. FT reported it as a drop of 28% compared with May last year.
Arizona's Bitcoin Reserve bill 'HB2324' passed the House

3 days ago | cryptopolitan.com | Noor Bazmi

Arizona’s House of Representatives has passed the Bitcoin Reserve bill (HB 2324) in a 34-22 vote, setting the stage for Governor Katie Hobbs to sign a proposal that would let the state build a reserve of seized digital assets, including Bitcoin. The HB 2324 reserve bill gives the state of Arizona the authority to set up a “Bitcoin and Digital Assets Reserve Fund” using cryptocurrencies obtained through criminal forfeiture.
Oil climbs and Asian markets steady as fragile Iran-Israel ceasefire holds

3 days ago | cryptopolitan.com | Noor Bazmi

Oil prices edged higher on Wednesday as traders weighed the likelihood of a new ceasefire between Iran and Israel holding firm. At the same time, Asian markets steadied and the dollar fell 0.1% to 144.70 against the Yen. Brent crude futures jumped by 1.3% to $67.99 per barrel by 03:41 GMT. The U.S. West Texas Intermediate climbed 1.4% to $65.24. Both contracts were trading not far above multi-week lows reached on Tuesday.
Musk becomes richest billionaire after Tesla robotaxi launch amid safety concerns

4 days ago | cryptopolitan.com | Noor Bazmi

Elon Musk’s net worth jumped by $19 billion on Monday, making him the day’s top gainer after Tesla launched its long-awaited robotaxi service in Austin. On Sunday, Tesla opened its self-driving taxi service in Austin to a limited number of riders, charging a flat fee of $4.20 per trip. Although employees accompanied each ride for safety, the service, years in the making and heavily promoted by Musk, boosted Tesla’s shares.
Turkey cracks down on crypto to combat illegal betting and fraud

4 days ago | cryptopolitan.com | Noor Bazmi

Turkey is tightening controls on cryptocurrency to stop criminals from laundering money from illegal betting and fraud. Finance Minister Mehmet Şimşek shared an article on X by state-owned Anadolu news agency, saying Turkey plans to set limits on transfers and introduce waiting periods for crypto withdrawals. According to the report, withdrawals will face a 48 to 72-hour delay if the so-called travel rule is not applied.
Trump's tax bill wins 10-year freeze on state AI rules

6 days ago | cryptopolitan.com | Noor Bazmi

Late Saturday, the Senate parliamentarian ruled that Republicans may keep a 10-year pause on state and local artificial intelligence rules in their massive tax and spending bill. Senate Commerce Chair Ted Cruz (R-Texas) revised an AI moratorium that the House had already approved, reshaping it to meet the chamber’s budget rules. Under his draft, states and localities would lose billions in federal broadband expansion dollars if they enforce any AI regulations during the next decade.
Markets head into a complicated week as Iran slams Hormuz Strait shut

6 days ago | cryptopolitan.com | Noor Bazmi

Investors around the world are preparing for a sharp market selloff when U.S. stock markets open on Monday morning. The United States attacked Iran over the weekend, heightening fears of a broader conflict and pushing global oil costs higher. Traders say this sudden turn of events could quickly weigh on equity markets around the globe, as fears of retaliation from Tehran and rising energy prices intensify. The unfolding Middle East crisis is set to dominate trading this week, Reuters wrote.