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  • Apr 15, 2025

China debates how to handle criminal crypto cache

China's growing pile of cryptocurrencies seized from illegal transactions is prompting local governments to find ways to dispose of the hoard and spurring calls from courts and the financial industry for better regulation. Together with senior judges and police, attorneys are debating changes to rules they said will soon change the way confiscated virtual currencies are treated. That could be a game-changer for China's crypto industry, and comes at a time of heightened Sino-U.S. tensions in Donald Trump's second presidency, coinciding with Trump's plans to deregulate cryptocurrencies and build a bitcoin reserve.

  • Apr 15, 2025

US Treasury secretary: no risk of China weaponizing Treasuries despite bond market volatility

"If Treasuries hit a certain level or if the Federal Reserve believed that a foreign — I won't call them an adversary — but a foreign rival were weaponizing the U.S. government bond market or attempting to destabilize it for political gain, I am sure that we would do something in conjunction with each other, but we just haven't seen that," Bessent said. "We have a big tool kit."

  • Apr 15, 2025

Ad firm Omnicom misses revenue estimates as economic uncertainty weighs

Omnicom witnessed declines in revenue growth across segments including healthcare, public relations, branding and retail, in the quarter, countering a 7.2% rise in the media and advertising business, the company's biggest. As businesses rein in ad budgets amid geopolitical tensions and stubborn inflation, the slowdown in client spending is weighing on revenue growth for major advertising firms like Omnicom. Omnicom's revenue stood at $3.69 billion in the quarter ended March 31, compared with analysts' average estimate of $3.72 billion, according to data compiled by LSEG.

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