Binance founder Zhao released from US custody: Bloomberg

Binance founder Zhao released from US custody: Bloomberg

BINANCE founder Zhao Changpeng was released from a correctional facility in California on Friday (Sep 27), Bloomberg News reported, citing a spokesperson for the Bureau of Prisons. Former chief executive Zhao was sentenced to four months in prison earlier this year, after pleading guilty to violating US laws against money laundering at the world’s largest…

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China urges local companies to stay away from Nvidia’s chips

China urges local companies to stay away from Nvidia’s chips

BEIJING is stepping up pressure on Chinese companies to buy locally produced artificial intelligence chips instead of Nvidia products, part of the nation’s effort to expand its semiconductor industry and counter US sanctions. Chinese regulators have been discouraging companies from purchasing Nvidia’s H20 chips, which are used to develop and run AI models, according to…

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Dollar weakens after inflation data, yen surges on Ishiba win

Dollar weakens after inflation data, yen surges on Ishiba win

THE dollar fell on Friday (Sep 27) after a reading of US inflation signalled price pressures continue to ebb, while the yen strengthened against the greenback after Shigeru Ishiba, seen as an interest rate hawk, was set to become Japan’s next prime minister. The US personal consumption expenditures (PCE) price index rose 0.1 per cent…

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