Financial Markets
Bitcoin crashes amid trade war renewal and market fears
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Bitcoin has entered a bear market, dropping over 30% from its early October peak of around $126,000, following a flash crash triggered by President Trump's renewed trade war with China. The cryptocurrency wiped out $1 trillion in value over six weeks, with a single-day loss of $19 billion on October 10 due to panic selling and liquidations. While recovering slightly to about $88,000 on Monday, concerns over Federal Reserve rate decisions and leveraged positions continue to unsettle investors.
BingX, a prominent cryptocurrency exchange, has introduced BingX TradFi, a new platform allowing users to trade futures on traditional assets like commodities, forex, stocks, and indices. This move expands beyond crypto trading to integrate real-world financial instruments directly into its ecosystem. The feature aims to provide crypto enthusiasts with diversified investment options amid growing demand in regions like the Middle East and North Africa.
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PicPay, the digital bank controlled by Brazil's Batista family of JBS, has filed for an initial public offering on a US exchange, aiming to raise up to US$ 500 million. The Dutch-incorporated firm reported a 79% profit increase in the first nine months of 2025, driven by higher revenues. Marcelo Claure's Bicycle fund plans to support the deal by purchasing up to US$ 75 million in shares.