Will South Korea's New President Launch a New Era for Crypto?
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Miami Herald
3 hours ago
- Miami Herald
Trump administration sanctions Mexico over air carrier trade pact
The Transportation Department has announced a series of actions against Mexico for violating a years-old bilateral air carrier trade pact. The department said Mexico has not been in compliance with the airline competition agreement since 2022 when it took back some slots for flights for U.S. air carriers at Benito Juarez International airport in Mexico City and forced U.S. cargo planes to shift their operations to other parts of the city. 'Since 2022, Mexico has altered the playing field significantly for airlines that reduce competition and allow prominent competitors to gain an unfair advantage in the U.S.-Mexico market,' a release from the Transportation Department said. 'The United States and Mexico have an air services agreement... that commits both parties to a liberalized operating environment for all has walked away from its commitments.' Mexico has said it rescinded the slots to make room for construction at the airport, but the work has yet to materialize three years later, the transportation department contended. 'By restricting slots and mandating that all-cargo operations move out of [Mexico City International Airport], Mexico has broken its promise, disrupted the market and left American businesses holding the bag for millions in increased costs,' the release continued. The 'America First' actions enacted by the Trump administration require Mexican airlines to file schedules with the transportation department for all of their U.S. operations, mandate prior DOT approval before operating any large passenger or cargo aircraft charter flights from the United States and addressing anti-competitive issues in the market. Mexico seized slots from U.S.-based carriers American Airlines, Delta Airlines and United Airlines, as well as from three Mexican airlines -- Aeromexico, Viva Aerobus and Volaris -- to make room for the construction. 'Despite repeated outreach from the Department, Mexico has not provided any information regarding when these slots would be returned or any major construction projects at MEX will ever materialize,' the release continued. Duffy added that the United States is also reviewing trade agreements with other countries to determine if they are being violated, including pacts with some European nations. Copyright 2025 UPI News Corporation. All Rights Reserved.
Yahoo
4 hours ago
- Yahoo
ETH's ‘Most Hated' Rally Could Trigger $331M in Liquidations Near $4K, Says Analyst
Ether's summer surge has ignited fierce debate among market analysts, with many pointing to mounting short positions and shifting capital flows as key drivers behind the rally. The world's second-largest cryptocurrency is now trading near $3,755, up nearly 5.7% in the past 24 hours and more than 25% over the past week, according to CoinDesk Data. ETH holders have welcomed the rally, and some analysts believe it could accelerate further if a short squeeze forces bearish traders to close their positions. '$ETH is the most hated rally right now,' posted Crypto Banter on X, referring to the unusually high level of bearish positioning in the market. According to the CoinGlass data cited by the analyst, approximately $331 million worth of short positions could be liquidated if ether hits the psychologically significant $4,000 level. That liquidation cascade would likely accelerate price momentum in a classic feedback loop. Others see ether's outperformance as a clear sign of shifting market dynamics. Pentoshi, a well-followed trader on X, pointed to the steepest weekly drop in BTC dominance in four years as evidence of capital rotating into ETH. 'Enjoy the next few weeks,' the pseudonymous analyst wrote, adding that ether's current trajectory resembles a 'melt up' — a term used to describe rapid price increases driven more by fear of missing out (FOMO) than fundamentals. Pentoshi also noted a new structural tailwind: the emergence of ETH treasury strategy companies, which are aggressively accumulating ether on their balance sheets. 'Now we have ETH treasury companies that are only a month old and into buying, competing to get 1% of the supply each,' he said. While not naming names, this likely refers to publicly traded firms like Bitmine Immersion Technologies and SharpLink Gaming, whose large-scale ETH acquisitions have drawn increasing attention. Adding to the chorus, crypto analyst Benjamin Cowen highlighted that altcoins continue to underperform relative to ether. 'Alt/BTC pairs go up but they are lagging ETH/BTC,' he posted, suggesting that ether is capturing a disproportionate share of market flows. Cowen argued that ETH now carries lower relative risk than other altcoins and is behaving similarly to how Bitcoin did during previous cycles.
Yahoo
4 hours ago
- Yahoo
Ethena's ENA Soars 20% as Protocol Sees $750M Inflow Amid Rising Crypto Funding Rates
Ethena's token ENA (ENA) surged on Sunday to its highest price in four months, as the decentralized finance (DeFi) protocol behind the token saw a fresh wave of inflows amid a broader crypto rally. The token, which serves as the governance token for Ethena, advanced roughly 20% during the day to over $0.50, topping that level for the first time since early February, according to CoinDesk data. Ethena is benefiting from the recent surge in crypto prices, generating higher yields for investors. The protocol issues the dollar-pegged USDe, marketed as a "synthetic dollar" with its price anchored at $1. It uses bitcoin (BTC), ether (ETH) and Solana's SOL (SOL)as backing assets, pairing them with an equal value of short perpetual futures positions on exchanges. The strategy generates revenue on its backing derivative assets when the perpetual funding rates are positive and passes on some of the income as yield to investors. Funding rates rose over the past few days after a long spell of near-neutral levels, CoinGlass data shows. The protocol's strategy now pays out almost 10% annualize yield to investors, more than double what money market funds pay out as a risk-free rate. Amid higher yields, the protocol's USDe attracted over $750 million in fresh inflows through the last few days, per DefiLlama data. At $6.09 billion supply, USDe is just shy below its February record supply of $6.1 billion, the project's dashboard shows.
