SCO summit strengthens Azerbaijan–China partnership
The Shanghai Cooperation Organisation (SCO) summit opened in Tianjin on 31 August, gathering leaders from across Eurasia and the Global South....
Bitcoin fell below $100,000 on Monday, hitting an 11-day low as market caution spiked following the debut of a Chinese AI model that triggered a selloff in Western tech stocks.
The world’s largest cryptocurrency, which recently rallied past $100,000 after U.S. President Donald Trump’s election, lost momentum last week. By 11:56 GMT, Bitcoin was trading at $98,852.17, down 6% for the day and marking its lowest level since January 16.
The decline mirrored a sharp drop in tech stocks, as investors reacted to concerns that Chinese startup DeepSeek's AI model could challenge Western dominance in the sector. Analysts referred to this as AI’s “Sputnik moment,” comparing it to the 1950s space race ignited by the Soviet Union’s launch of a satellite.
"Bitcoin’s losses appear tied to risk-off sentiment across markets due to DeepSeek," noted Simon Peters, an analyst at eToro. Geoffrey Kendrick, global head of digital asset research at Standard Chartered, said Nasdaq futures' decline negatively impacted crypto markets, while disappointment over the Trump administration’s crypto-related announcements further fueled the selloff.
President Trump’s executive order last week created a working group to develop crypto regulations and explore a cryptocurrency stockpile. However, crypto investors were disappointed when the topic was largely absent from Trump’s initial day-one policy announcements. The SEC also recently shelved accounting guidance that the crypto industry had criticized for hindering adoption.
Rising concerns over interest rates staying higher for longer added pressure on risk assets, noted Thomas Puech, CEO of digital asset hedge fund Indigo. The U.S. Federal Reserve is set to meet this week, with expectations it will maintain current interest rates.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 31th of August, covering the latest developments you need to know.
Russian President Vladimir Putin arrived in the northern Chinese port city of Tianjin on Sunday for a regional security summit, Chinese and Russian state media reported.
China’s largest city and global financial hub, Shanghai, has set a new heat record, state media reported on Saturday. Temperatures in the city exceeded 35°C (95°F) for 25 consecutive days, breaking the previous record set in 1926.
Indian Prime Minister Narendra Modi arrived in Japan on Thursday to meet his Japanese counterpart, Shigeru Ishiba, with trade and security high on the agenda.
Spain has condemned the U.S. decision to revoke visas for Palestinian President Mahmoud Abbas and 80 other officials, calling it “unacceptable” and urging the European Union to take a leading role in defending Palestinian representation at the UN.
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