Hong Kong's securities regulator announced that it will allow retail trading for certain cryptocurrencies from June 1, causing Bitcoin to rise 1.7% to $27,293.64. Ether also advanced nearly 2% to $1851.91. The move is part of efforts to make Hong Kong a global crypto hub, and the regulator has already issued licenses to two platforms, OSL and Hash Blockchain. However, it is not expected to immediately result in a flood of retail buying power. The news will come out when catastrophic events such as big catalysts or trading hit a lull. Bitcoin and Ether are on their way to witnessing their worst month of 2023.
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Australia aims to strengthen economic ties with India and promote it as a top export market. The partnership seeks to leverage Australia's critical minerals to support India's semiconductor self-reliance and deepen strategic relations. Former Senator Lisa Singh emphasizes the need to change the perception that doing business in India is challenging.
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Warner Bros. Discovery, a subsidiary of Warner Bros., reported a loss of $2.1 billion for the interval, or 86 cents per share. The company has been struggling with revamping costs and detriment charges restraining from the 2022 merger of Warner Bros. and Discovery, while trying to push its surging business in the right direction. On Thursday, Warner Bros. executives said they expected to continue essentially cutting debt from its balance sheet in the next two years.
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