SCMP's weekly Asia report features a story on Malaysian tourists facing backlash in China for mocking locals, and mentions a fatal school shooting in the Philippines, among other highlights.
Michael Saylor advocates for Bitcoin's integration into traditional finance, emphasizing corporate and credit-market adoption over spot ETF exposure, as institutional demand faces pressure from market sell-offs and outflows.
Ethereum (ETH) has fallen below $2,000, with traders anticipating a drop to $1,500. Key developers leaving, high-profile sales, and 15 consecutive days of ETF outflows contribute to bearish sentiment, while technicals show lower highs and lows.
XRP fell to $1.25 on Tuesday, erasing recent gains due to a market-wide sell-off. Analysts are divided, with some predicting further drops to $1 or below, while others suggest a potential 'bear trap' is forming, especially as June historically shows weak performance for XRP.
Crypto investment products experienced $1.67 billion in outflows last week, the second-largest weekly withdrawal of 2026, driven by a risk-off sentiment and limited institutional demand. Bitcoin ETPs led the losses, with outflows totaling $1.44 billion.
China's intensified crackdown on citizens trading in foreign markets, citing illegal activities, led to a sharp decline in Chinese stocks listed in the US. Regulatory bodies announced penalties and profit confiscation for unlicensed brokers.
Jim Cramer discussed on CNBC's Mad Money how stock sell-offs can create opportunities for investors willing to focus on fundamentals rather than fear-driven narratives. He highlighted CrowdStrike, Microsoft, Blackstone, and UnitedHealth as examples of stocks that recovered after being written off by Wall Street, arguing that AI tools will actually benefit cybersecurity companies rather than hurt them.
