Chip Giant Tsmc Reports Blockbuster Results Even As Questions Over Ai Mania Loom

Eric Trump, son of presidential candidate Donald Trump, has been announced as a guest speaker at Bitcoin MENA (Middle East & North Africa) Conference 2024. The conference in Abu Dhabi on December 9 – 10, is intended to “advance the understanding and adoption of Bitcoin and blockchain technology”, according to the conference’s website. Trump’s inclusion in the conference as a guest speaker has arisen from his involvement in Donald Trump’s pivot to cryptocurrency.

The Italian government announced plans to raise the taxes on crypto capital gains from 26% to 42%. Italy’s Deputy Minister of Economy Maurizio Leo shared his intention to increase taxes on cryptocurrency-related capital gains drastically, local financial news outlet Il Sole 24 Ore reported. If adopted, the measure would mean that profits from selling assets such as Bitcoin (BTC) would be taxed at 42%, as would the profits from staking. The details The Minister proposed the crypto tax hike as part of a broader coordinated action to generate additional revenue to support families, young people, and businesses in Italy.

A former senior judge in Macao has been chosen as the next leader of the gambling outpost, in a move that appears to signal a further shift in line with Chinese policy.  Sam Hou Fai will assume office in December, following an unopposed ‘ceremonial’ election on Sunday when 394 of the entire 400-member selection committee gave him their backing.  Sam, 62, was the sole candidate in the process but his background represents a notable juncture.  He was president of Macao’s highest court for more than 20 years and the shift toward a chief executive from outside the Chinese territory’s traditional business community is significant.  Sam will also be the first Macao leader born on the Chinese mainland, as the former Portuguese colony prepares for change. The shift in the city’s leadership from the gambling and business community to a figurehead drawn from the legal professional will come with efforts to diversify its economy away from reliance on the gambling market.  There is an expectation that Beijing’s policy agenda for Macao will be prioritized, with the government office responsible for the city, as well as Hong Kong, describing Sam as a ‘patriot’.  The regime has talked up his appointment in what appears to be a deliberate placement after the former justice previously railed against the “wild” expansion of the gambling sector.  Sam Hou Fai, who was elected by an overwhelming majority as the sixth-term chief executive designate of China's Macao Special Administrative Region (SAR) on Sunday, pledging to unwaveringly implement the "one country, two systems" policy.

The U. S. Federal Trade Commission (FTC) has announced a “click to cancel” rule to make it easier for consumers to end subscriptions. The “click to cancel” rule will force subscription sellers and companies to make it as easy to cancel a subscription as it was to sign up in the first place. Provided there are no legal challenges to the rule, it will go into effect in the U.

Amazon has signed three new deals to support the development of nuclear energy in the form of Small Modular Reactors (SMRs). Amazon’s agreements are more like traditional upfront investments, the company said on Wednesday (Oct, 16). Google’s recently announced step into nuclear energy was a commitment to purchase power from a company if they get reactors online. Microsoft has also entered into a deal to secure nuclear energy from Three Mile Island’s owners. The tech giants are scrambling to fuel their generative artificial intelligence ambitions after it became clear that the existing US power grid is struggling to cope with the extremely high power demands of AI data centers.

As the end of 2024 approaches, the cryptocurrency market shows signs of recovery, with meme coins leading the rally. With the market up by 1.4% and trading volume increasing by 14%, it’s a green day for investors. Bitcoin sits at $67,000, marking a 30-day high, which could lead to a broader market pump. As Bitcoin continues to rise, we expect meme coins to follow.