Bitcoin soars to all-time peak just shy of US$112,000
It touched a record peak of US$111,988.90 and was last up 0.4 per cent at US$111,259. Since the beginning of the year, bitcoin has advanced more than 18 per cent.
"Bitcoin is the only asset I am aware of where it becomes less risky as it grows in size," wrote Anthony Pompliano, founder and CEO of Professional Capital Management in a letter to investors on Wednesday.
"There were few sophisticated capital allocators who could gain exposure when bitcoin was US$100-200 billion market cap. Now that the asset is measured in trillions, almost every capital allocator on the planet can put the exposure on."
The Trump administration's crypto-friendly policies have bolstered digital assets overall, opening pools of capital to the sector.
For instance, Trump Media & Technology Group, run by the US president's family, is looking to launch an exchange-traded fund that will invest in multiple crypto tokens, including bitcoin, ether, solana and ripple, according to a filing with the US markets regulator on Tuesday.
Bitcoin's rally also spread to other cryptocurrencies.
Ether, the second-largest digital currency in terms of market capitalization, also rallied, hitting a one-month high of US$2,794.95. It last traded up 5.4 per cent at US$2,740.99.
Other crypto-related stocks also gained. Strategy, co-founded by the leading voice in the bitcoin treasury movement Michael Saylor, rose 4.7 per cent to US$415.41, while Coinbase Global advanced 5.4 per cent to US$373.85.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malay Mail
an hour ago
- Malay Mail
Trump's addictive tariff doctrine: Pinching, pummelling, and the price of global compliance — Phar Kim Beng
JULY 12 — The leaked audio of former President Donald J. Trump during a 2024 fundraiser—recently revealed by CNN—should not be dismissed as mere campaign bravado. When Trump admitted that he had initially asked for one million dollars but walked away with twenty-five times that amount, he sounded both amused and amazed. More revealing, however, was his offhand remark: 'It's about getting into the mindset.' That moment of candour explains far more than his fundraising psychology—it offers a blueprint for his foreign economic policy. Indeed, Trump's second presidency has been shaped not just by tariffs as an economic tool, but by tariffs as psychological warfare. Whether allies or adversaries, all are subject to his self-proclaimed principle of 'maximum extraction.' Tariffs are no longer just about market correction or economic protectionism; they are a means of tribute, coercion, and ultimately submission to Trump's worldview of American primacy. The executive order that redefined trade On January 20, 2025—the very first day of his second term—President Trump signed a sweeping Executive Order instructing the Secretary of Commerce and the Treasury Secretary to ensure that every possible tool be used to extract maximum revenue from global trade. Section B of the second paragraph of that Executive Order makes the objective brutally clear: to increase tariffs, duties, levies, and restrictions to yield up to US$400 billion in revenue for the US government within the calendar year. This is not trading policy. It is economic conquest. Unlike the tariffs of previous administrations that targeted dumping or strategic industries, Trump's approach is indiscriminate. It is premised on the idea that friends are easier to squeeze than enemies because they are less likely to retaliate in kind. 'It's easier to get more from friends—they won't fight back,' he was heard saying in another portion of the leaked audio. This has led to punitive tariffs on countries like Japan, South Korea, Germany, and Malaysia—nations that have historically enjoyed stable ties with the United States. Tariffs as tools of tribute Trump's method of tariff pummelling has three consistent features: First, it begins with a shock tariff—a sudden, often unannounced imposition of duties. This was evident on July 8, 2025, when the White House abruptly imposed 25 percent tariffs on key sectors from Asean, Japan, and South Korea, well before the previously floated deadline of August 1. The idea is to throw diplomatic teams off balance and create maximum psychological leverage. Second, Trump offers exemptions or 'carve-outs' as bargaining chips. Malaysia, for example, found its exports of semiconductors and integrated circuits—making up the bulk of its US$80 billion two-way trade with the US—exempted from the new tariffs. But this was no accident. Malaysia had just announced the purchase of 30 Boeing aircraft. The pattern is unmistakable: pay tribute in kind (defence purchases, foreign direct investments, or public endorsements of Trump), and you might receive reprieve. Third, he escalates the pressure through vague threats of future penalties. These are often announced at rallies or in interviews, keeping the world perpetually guessing about what comes next. The unpredictability is intentional, a form of controlled chaos that he believes gives America the upper hand in negotiations. Why the addiction? Trump's use of tariffs is not simply strategic. It is compulsive. The psychological high he receives from watching countries scramble to adjust, to mollify, or to appease him, feeds into a cycle of economic brinkmanship. His personal satisfaction seems rooted not in policy outcomes but in submission rituals—press conferences by foreign leaders pledging allegiance to US supply chains, or headlines about retaliatory restraint from trading partners. As former National Security Adviser John Bolton once observed, Trump sees foreign policy as a series of transactions. But in his second term, it has evolved into something more primal. The leaked audio proves that Trump sees economic policy as theatre—and he, the self-appointed master of ceremonies. The world is a stage for his psychological dominance. The friends he loves to punish The irony of Trump's doctrine is that it targets allies far more often than adversaries. China, for all its geopolitical rivalry with the US, remains cautiously respected by Trump for 'playing hardball.' On the other hand, allies like Canada, Germany, and South Korea are routinely slapped with tariffs not because they are unfair traders—but because they are perceived as 'too comfortable' under the US umbrella. In Asean's case, Trump's tactics are creating deep anxiety. Malaysia, as Group Chair of Asean and Chief Coordinator of Asean-China relations, finds itself pulled in multiple directions. While attempting to chart a neutral and balanced foreign policy, it is simultaneously exposed to unilateral US economic coercion. Even though key exports like semiconductors remain exempted, the message is clear: exemptions today can become punishments tomorrow, unless political alignment is made explicit. Revenue as power, not policy The US$400 billion target is not just about balancing America's books. It is about transforming revenue into geopolitical leverage. Trump believes that with enough economic weight, the US can force the world to comply with its rules—whether on trade, technology standards, digital taxation, or military basing rights. The logic is rooted in power, not principle. For Trump, tariffs are not a bridge to negotiation; they are a test of fealty. Countries that comply may get exemptions or defence guarantees. Those that resist face tariffs, travel bans, or diplomatic snubs. This reconfiguration of trade as tribute has turned even America's closest allies into cautious participants in an asymmetric relationship. Asean's narrow path Asean now faces the challenge of balancing Trump's tariff addiction with its own strategic autonomy. The region must avoid being perceived as either too accommodating or too resistant. Countries like Malaysia, Indonesia, and Vietnam must reinforce intra-regional trade, accelerate digital transformation, and deepen supply chain resilience to avoid being trapped in Trump's tariff vise. Track 2 diplomacy, regional summits, and multilateral coalitions—whether through Brics+, Asean+3, or the East Asia Summit—must be mobilised not to oppose the US, but to insulate against its erratic policies. If Trump's first term taught the world about disruption, his second term is teaching them about addiction—to tariffs, tribute, and total control. In conclusion, the Trump Doctrine in 2025 is not just about 'America First.' It is about 'America Extracts.' And as long as this addiction goes unchecked, the world must brace itself—not for another trade war, but for a global system held hostage by a leader who equates economic pain with political gain. * Phar Kim Beng is a professor of Asean Studies and Director of the Institute of Internationalization and Asean Studies at the International Islamic University of Malaysia ** This is the personal opinion of the writer or publication and does not necessarily represent the views of Malay Mail.
BusinessToday
2 hours ago
- BusinessToday
Safe-Haven Demand Strengthens Gold Prices
Gold prices climbed on July 11, buoyed by safe-haven demand amid ongoing geopolitical uncertainty and heightened volatility in global markets. Spot gold closed at US$3,354.76 per oz, marking a 0.9% gain from the previous session. The advance marks the third straight day of gains for the precious metal, as investors continue to seek shelter from mounting risks, including trade tensions and uncertain monetary policy trajectories. Front-month gold futures also saw a strong session, reaching an intraday high of US$3,381.60, up approximately US$43.50 from July 10's close. Trading ranged between US$3,332 and US$3,381 throughout the day. The rally came as US President Donald Trump's tariff threats rattled financial markets globally, adding to the appeal of gold as a hedge against political and economic shocks. Looking ahead, market participants will closely watch upcoming economic indicators and central bank commentary. Analysts caution that while gold could continue to benefit from risk-off sentiment, strong economic data or a shift in interest rate expectations could temper its momentum. Related
Malaysian Reserve
2 hours ago
- Malaysian Reserve
High-Speed Cable Market Size to Reach USD 24.99 billion in 2031, Growing at a CAGR of 10.2%,
NEW YORK, July 11, 2025 /PRNewswire/ — According to a new comprehensive report from The Insight Partners, the global high-speed cables market is observing significant growth owing to the growing deployment of data centers and rising investments in enterprise IT infrastructure. The high-speed cables market is expected to reach US$12.90 billion by 2024 from US$24.99 billion in 2031, at a CAGR of 10.2% during the forecast period 2025-2031. The demand for high-performance, reasonably priced data center interconnects has increased as cloud services grow at a never-before-seen rate. High-speed cables have become more widely used as a result of this. To explore the valuable insights in the High Speed Cables Market report, you can easily download a sample PDF of the report – High-speed cables such as DAC and AOC offer a direct physical layer connection between two ports utilizing twin-axial cables, guaranteeing signal integrity across predetermined lengths without the use of active optical components, in contrast to optical interconnects that rely on optical modules for signal conversion. The electronics, automotive, communication, and networking industries are continuously evolving by innovating their product offerings to support high speed data transfer. Thus, a rising demand for high speed cables to facilitate easy connectivity is propelling the market growth. Automotive manufacturers are installing more electronic and infotainment systems in vehicles to provide high connectivity. The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the High Speed Cables are applicable in a vast array of applications that are expected to register strength during the coming years. For Detailed High-Speed Cables Market Insights, Visit: Overview of Report Findings Rising Investments in Enterprise IT Infrastructure: Rising enterprise IT infrastructure investments are directly fueling demand for high-speed interconnects such as AECs (Active Electrical Cables), AOCs (Active Optical Cables), and DACs (Direct Attach Copper). The need for quicker, more dependable, and more efficient data transfer across servers, switches, and storage systems has increased as businesses update their data centers and implement cutting-edge technologies such as edge computing, hybrid cloud, and AI/ML workloads. As businesses grow to 25G, 100G, and 400G Ethernet infrastructures, these high-speed cables are crucial for providing the low-latency and high-throughput connectivity needed by today's enterprise applications. For instance, over 40% of larger enterprises will adopt edge computing as part of their IT infrastructure by 2025, as it enables real-time analytics for smart cities, autonomous vehicles, and industrial IoT. Developments in 5G Network Services: Passive DACs, which are basically premium copper wires without any embedded electronics, are far less expensive than the cables due to these components. Advanced chipsets in AECs and VCSEL lasers in AOCs add a premium that can increase the cost by at least two to five times. DACs are frequently utilized in 5G networks for short-range connections that occur in the same area, such as O-RAN cell sites and edge data centers. These cables support high-speed data transport with low latency and power consumption. For instance, passive QSFP28 DACs are appropriate for in-cabinet direct connections since they can support 100 Gb/s, while SFP28 DACs can support 25 Gb/s. The dense cells and high traffic of 5G networks necessitate backhaul connections capable of handling hundreds of gigabits. This necessitates greater speed Ethernet connections, such as 400G or greater. DACs are essential in order to facilitate these high-speed Ethernet connections across short distances and guarantee effective data transfer between network devices. The lowest power consumption per port is also provided by passive DACs, which use between 91% and 97% less power per port than fiber cabling with independent transceivers. The volume of short-reach server network access connections quickly mounts up. Stay Updated on The Latest High Speed Cables Market Trends: Geographical Insights: In 2024, North America led the market with a substantial revenue share, followed by Europe and Asia-pacific. Asia Pacific is expected to register the highest CAGR during the forecast period. Market Segmentation Based on type, the market is segmented into DAC, PCLe, SAS, AEC, ACC, AOC, and others. The RF AOC segment held the largest market share in 2024. Based on application, the high speed cable market is segmented into switch-to-switch interconnect, switch-to-server interconnect, server-to-server interconnect, and server-to-storage interconnect. The switch to switch Interconnect segment held the largest market share in 2024. The High Speed Cables market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America. Competitive Strategy and Development Key Players: A few major companies operating in the high speed cables market include Amphenol Corporation, Axon Cable SAS, Molex LLC, Volex PLC, NVIDIA CORPORATION, Samtec INC, Shenzhen Sopto Technology Co., Ltd., TE Connectivity Corporation, Edge Optical Solutions, and JPC Connectivity. Trending Topics: AI-Driven Infrastructure Expansion, Advancements in High-Speed Connectivity Standards, Smart Infrastructure and IoT Integration, Automotive Data Cables, among others. Global Headlines on High Speed Cables 'Amphenol Communications Solutions (ACS) and Semtech Introduce 1.6T Active Copper Cable at OFC 2025' 'Molex Launches PCIe Cable Connection System for Open Compute Project Servers' 'Molex Launches PCIe Cable Connection System for Open Compute Project Servers' Purchase Premium Copy of Global High Speed Cables Market Size and Growth Report (2021-2031) at: Conclusion There is a high need for intra-rack and inter-rack connections in data centers. High-speed cables are ideal for these conditions as they provide fast connectivity with less than 0.1W of power usage and heat generation. The cooling demand on data center air conditioning systems is decreased by this efficiency. Furthermore, a crucial benefit of high speed cables is their longevity, which reduces the possibility of failures in high-density environments as they are less vulnerable to bending or other physical stressors. The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system technology integrators, system manufacturers and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities. Trending Related Reports: The Medium Voltage Cable Market Size is expected to reach US$41.28 billion by 2031. Medium Voltage Cable and Accessories Market Size is expected to reach US$58.88 billion by 2031. Sewer Cable Market Size is expected to reach US$121.6 million by 2031. Wire & Cable Compounds Market is expected to register a CAGR of 8% from 2025 to 2031. Cable Modem Termination System (CMTS) Market is expected to CAGR of 8.3% from 2025 to 2031. The Medical Cables Market Size is projected to reach US$16,048.76 million by 2031. The Wire and Cable Plastics Market Size is projected to reach US$17.88 billion by 2031. The Submarine Power Cable Market Size is projected to reach US$13.45 billion by 2031. The Low Smoke Halogen Free Cable Market Size is projected to reach US$5.80 billion by 2031. The Wire and Cable Market size is projected to reach US$306.36 billion by 2031. About Us: The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials. Contact Us:If you have any queries about this report or if you would like further information, please contact us:Contact Person: Ankit MathurE-mail: +1-646-491-9876Press Release – Logo: View original content:
