Latest Finance-Economy News
Bithumb Crypto Exchange Commits to Reimburse Users After $51B Bitcoin Error
South Korean crypto exchange Bithumb mistakenly distributed 620,000 Bitcoin (worth over $40B) instead of 620,000 won to 695 promotion winners on Feb 6, causing a panic sell-off. The error was corrected within 20 minutes, and Bithumb will reimburse affected customers for losses.
This incident underscores risks in crypto platform operations.
Bitcoin Surges 10% After Dipping Below $70K Amid High ETF Volatility
Bitcoin rose 10% on Friday after falling below $70,000, driven by record volumes in IBIT ETF and options trading. Tokenized treasuries hit $10B, with growing involvement from firms like Templeton and Fidelity signaling 2026 as the year of tokenization.
Crypto remains highly volatile for investors.
AlUla Conference for Emerging Markets Opens Today on Trade and Financial Reset
The IMF and Saudi Ministry of Finance launch the second AlUla Conference on Feb 8-9, focusing on policies amid global trade and financial system resets. Sessions cover monetary policy, fiscal resilience, AI-driven growth, and shock-prone environments for emerging markets.
It aims to enhance policy coordination and economic stability.
Scotiabank Warns of US Job Market Weakness and AI Inflation Risks
Evidence points to US job market deterioration faster than inflation stabilization, with non-tech cap-ex and jobs shrinking. AI spending by Mag7 tech giants, including Nvidia's 2026 guidance, crowds out other sectors and risks inflation.
Forecasts three Fed rate cuts to 3% this year.
Japan Faces Snap General Election Amid Takaichi's Bold 2026 Budget Proposal
Japan calls snap election as Parliament debates Takaichi’s ¥122.3T ($780B) 2026 budget. Rising global influence contrasts with domestic concerns over economy outside tech.
Outcomes could impact fiscal policy execution.
Central Banks in Focus: Peru, Russia Decisions and Fed Speak Expected
Only Peru and Russia central banks announce policies this week, alongside Fed reactions and BoC views on AI. US data releases like jobs and inventories could sway markets.
Global implications for rate paths ahead.
China's Foreign Exchange Reserves Rise to $3.399T
China reports FX reserves at $3.399T, exceeding consensus of $3.36T. This strengthens amid ongoing economic data releases.
Signals stability in reserves management.
Japan Current Account Surplus Hits ¥3.674T, Beats Forecasts
Japan's current account recorded ¥3674B surplus, far above ¥1400B consensus. Bank lending YoY at 4.4%, slightly below expectations.
Key for BoJ policy considerations.
US Business Inventories and Budget Data Due This Week
US business inventories expected at 0.3% MoM, with monthly budget statement forecasted at -$145B improvement. Fed balance sheet at $6.61T and 10-Year Note auction at 4.173%.
Critical for economic health assessment.
ECB and BoJ Speeches Highlight Eurozone and Japan Policy Outlook
ECB's Tuominen and BoJ's Tamura speeches scheduled amid trade balance and employment data for Eurozone. China's new yuan loans and M2 growth also key.
Shapes global monetary expectations.
API Reports Major US Crude Oil Stock Draw of 11.1M Barrels
US API crude oil stocks fell 11.1M barrels, supporting energy prices. Ties into broader commodity and inflation dynamics.
Relevant for Fed inflation watch.
India RBI Market Borrowing Auctions and Korea Unemployment Data
India's RBI holds market borrowing auctions; Korea unemployment steady at 4%. Part of busy Asian economic calendar influencing EM sentiment.
Supports emerging market focus.