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Cryptocurrency and Currency News

June 25/26, 2025

Cryptos: (Near Live)

Bitcoin $107,912.10 USD -1.68%
Ether $2,529.63 USD -1.62%
Tether $1.00 USD -0.38%
XRP $2.31 USD - 2.44%
BNB $669.28 USD -1.47%
Solana $172.56 USD -3.48%
USD Coin $1.00 USD -0.42%
Dogecoin $0.2202 USD -4.07%
Cardano $0.7479 USD -1.38%

News

Bitcoin has been making headlines in May 2025, with its price surging to new all-time highs, driven by institutional adoption, regulatory developments, and market momentum. Here's a concise overview of the latest Bitcoin news based on recent reports:

Price Surge and All-Time Highs: Bitcoin reached a record high near $112,000 on May 22, 2025, surpassing its previous peak from January 20, 2025, around the time of President Donald Trump’s inauguration. The cryptocurrency has climbed over 15% in May alone, with analysts attributing the rally to strong institutional demand and corporate buying. Some predict Bitcoin could hit $135,000 to $320,000 by year-end, with options traders eyeing even loftier targets like $300,000 by June 27.

Institutional and ETF Inflows: U.S. spot Bitcoin exchange-traded funds (ETFs) have seen significant inflows, with $3.6 billion in net inflows in May and total assets exceeding $122 billion. Public companies have increased their Bitcoin holdings by 31% since the start of 2025, now totaling about $349 billion, or 15% of the total Bitcoin supply.

Regulatory Tailwinds: Positive regulatory shifts, including the U.S. Senate advancing a bill to regulate stablecoins, have bolstered market sentiment. Support from the Trump administration and comments from JPMorgan CEO Jamie Dimon, a former Bitcoin skeptic, about allowing clients to buy Bitcoin signal growing mainstream acceptance.

Market Dynamics and Predictions: Analysts note this rally differs from past ones, driven more by institutional ownership than retail speculation. Bitcoin’s market cap hit $2.17 trillion, with a realized cap of $911.5 billion. Some experts forecast a potential correction due to high-leverage zones, but others see sustained growth, with targets like $150,000 by August 2025.

Global Developments: Posts on X highlight international interest, with Dubai accepting Bitcoin payments, Missouri removing Bitcoin capital gains tax, and Pakistan allocating 2,000 megawatts for Bitcoin mining and AI data centers. These moves suggest growing global adoption.

Market Sentiment: Polymarket betting data indicates a 38% likelihood of Bitcoin reaching around $110,000 by the end of May, aligning with current trends. However, some traders anticipate volatility due to macro uncertainties like tariffs and geopolitical tensions.

While the bullish momentum is strong, analysts warn of potential short-term pullbacks due to liquidations or negative regulatory news. Always approach Bitcoin investments with caution, as the market remains volatile. (Grok)

News

Bitcoin Quotes

“Bitcoin is a tool for freeing humanity from oligarchs and tyrants, dressed up as a get-rich-quick scheme.” – Naval Ravikant, former CEO of AngelList

“We have elected to put our money and faith in a mathematical framework that is free of politics and human error.“ – Tyler Winklevoss, co-CEO of Gemini

"You can't stop things like Bitcoin. It will be everywhere, and the world will have to readjust. World governments will have to readjust." —John McAfee, Founder of McAfee Associates

“There are 3 eras of currency: Commodity based, politically based, and now, math-based.“ – Chris Dixon, Venture Capitalist at Andreesen Horowitz

“As the value goes up, heads start to swivel and skeptics begin to soften. Starting a new currency is easy, anyone can do it. The trick is getting people to accept it because it is their use that gives the “money” value.“ - Adam B. Levine, CEO of Tokenly

“Trading Bitcoin is like trading Apple, Amazon, Google, or Facebook a decade ago. The more you obsess over timing the market, the more mistakes you make. They were all technology networks that were dominant & destined to grow.” - Michael Saylor, Former CEO of MicroStrategy

"Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly." - Vitalik Buterin, Co-Founder of Ethereum

"The Latin American countries where you have this combination of inflation or hyperinflation cycles – deflation as well – and then you have very high friction for financial transactions, a high percentage of people who are unbanked, cryptocurrencies make total sense." – Fred Thiel, CEO of Thiel Advisors & Marathon Digital Holdings

“…we know gold is a $12 trillion asset, bitcoin’s about a 10th of gold. Could they be half of gold? At one point, Sure, it could … And at some point, it will be larger than gold… that money is finding its way to Gen Z and Millennials, and they feel much more comfortable with digital gold than old clunky gold.” - Mike Novogratz, CEO of Galaxy Digital

“If you don't believe me or don't get it, I don't have time to try to convince you, sorry.” - Satoshi Nakomoto, Founder of Bitcoin

News

Divorced couples using crypto to hide cash in divorces KordaMentha warns

KordaMentha partner Brendan Read claims that couples are increasingly making use of cryptocurrencies to hide assets during divorce proceedings, and that most lawyers do not have the skills to detect hidden crypto assets. Research from Roy Morgan has found that over one million Australians hold cryptocurrencies, with people over the age of 50 having the largest holdings, with average holdings of $56,200. Roy Morgan also found that the average investment in crypto by men is $23,400, almost twice the average for women, which is $12,800. (Roy Morgan Summary)

News

Markets: Australia

What now for ailing resource giants?

Australia's benchmark S&P ASX/200 has gained 10 per cent since the start of 2024, while the S&P 500 in the US has risen by 22 per cent. Wall Steet's rise has been driven to some extent by the rally in technology stocks. However, there has not been an equivalent rally in Australia's market-dominant resources sector. Indeed, shares in Australian-listed minerals and energy companies have fallen by between 14 per cent and 47 per cent. A number of factors have weighed on the sector, such as lower commodity prices and falling demand, the outlook for the global economy and the Trump administration's tariffs regime. (RMS)

News

Bitcoin Movies: News

Unbanked: A new Bitcoin documentary titled Unbanked has generated buzz, with its trailer released recently. Posts on X praise the work of filmmakers Lauren Sieckmann and David Kuhn, indicating strong anticipation for its release.

Bitcoin FilmFest: The second day of the Bitcoin FilmFest is currently live, featuring discussions and films focused on Bitcoin’s impact and future, as shared on X.

Crypto Man: A South Korean crypto-themed film, Crypto Man, based on true events, is set for a January 2025 theatrical release. It was in post-production as of December 2024.

Satoshi Nakamoto Film: A feature film about Bitcoin’s enigmatic founder, Satoshi Nakamoto, directed by Sophia Banks, is in development. It’s based on Andrew O’Hagan’s article “The Satoshi Affair” and explores the mystery of Nakamoto’s identity.

Money Electric: The Bitcoin Mystery: This HBO documentary, released October 2024, investigates Satoshi Nakamoto’s identity, sparking debate by suggesting Bitcoin developer Peter Todd as a candidate, though Todd denied it. Critics, including economist Peter Schiff, expressed frustration over the film’s speculative narrative.

God Bless Bitcoin: A documentary exploring Bitcoin as an alternative to fiat currency, co-directed by Brian and Kelly Estes, was released globally for free on July 25, 2024, with a premiere at the Bitcoin Conference in Nashville.

Biggest Heist Ever: Netflix’s documentary, released December 2024, covers the 2016 Bitfinex heist by Ilya Lichtenstein and Heather Morgan, dubbed “Bitcoin’s Bonnie and Clyde,” who laundered $4.5 billion in stolen Bitcoin.

Cold Wallet: A thriller about cryptocurrency fraud, released March 2025, has been praised for its suspenseful narrative and ironic finale, presented by Steven Soderbergh.

Ross Ulbricht Documentary: Filmmakers Jonah Tulis and Blake J. Harris are nearing completion of a documentary featuring over 60 hours of interviews with Ross Ulbricht, the pardoned Silk Road founder, focusing on his role in popularizing Bitcoin.

These projects reflect growing interest in Bitcoin’s cultural and financial impact, with narratives ranging from investigative mysteries to real-world crypto crimes. (Grok)

News

Best Quotes Of The Day

Gold

"Gold is the money of kings." - Anonymous

"Gold is the universal language understood by all nations." - George Herbert

"Gold gives to the ugliest thing a certain charming air, for that without it were else a miserable affair." - Moliere

"The desire for gold is the most universal and deeply rooted commercial instinct of the human race." - Gerald M.

"Truth, like gold, is to be obtained not by its growth, but by washing away from it all that is not gold." - Leo Tolstoy

About Gold and Money:

"Money is gold, and nothing else." - Bullion by Post

"Because gold is honest money, it is disliked by dishonest men." - Bullion by Post

"I like gold because it is a stabilizer; it is an insurance policy." - Bullion by Post

"We have gold because we cannot trust government." - Bullion by Post

"Never trust money more than gold." - Bullion by Post

"Although gold and silver are not by nature money, money is by nature gold and silver." - Bullion by Post

News

Bitcoin Gaming: News

Bitcoin gaming is seeing significant developments in 2025, with innovations in blockchain integration, gamified education, and crypto casino advancements. Here’s a concise overview of recent news based on available information:

Crypto Casinos Surge: Platforms like JACKBIT and MyStake are leading the Bitcoin casino space, offering over 6,000 games, including slots, live dealers, and blockchain-powered titles. JACKBIT supports 19 cryptocurrencies, processes payouts in minutes, and features promotions like 3+1 FreeBet and Drops & Wins with a $2,000,000 prize pool. MyStake is noted for its speed, averaging under 15 minutes for withdrawals. Other platforms like BitStarz, BC GAME, and Trustdice are also recognized for no-deposit bonuses and instant withdrawals, reshaping online gaming with secure, crypto-optimized experiences.

Jippi’s AR Bitcoin Game: Launched at Bitcoin Conference 2025 (May 27-29, Las Vegas), Jippi’s mobile augmented reality game, similar to Pokémon GO, gamifies Bitcoin education. Players hunt “Bitcoin Beasts,” answer trivia, and earn sats (Bitcoin’s smallest unit). Partnering with six Bitcoin companies, it aims to onboard young adults to cryptocurrency through engaging gameplay.

Web3 Gaming Momentum: Blockchain gaming is evolving, with a focus on user retention and interoperability. Despite a dip in April 2025 to 4.8 million daily active wallets, platforms like Avalanche are advancing with titles like Off the Grid, offering players true asset ownership. SUI’s rumored Pokémon integration boosted its token by 60%, while Ultra and Illuvium are gaining traction for AAA-quality Web3 games.

Crime Concerns: A $263 million crypto theft ring, involving 4,100 Bitcoin stolen in August 2024, was linked to a group that met through online gaming. The U.S. DOJ charged 12 individuals with wire fraud and money laundering, highlighting risks in gaming-related crypto schemes.

Play-to-Earn and NFT Integration: Ubisoft and Sega are experimenting with NFTs and play-to-earn mechanics in games like KAI: Battle of Three Kingdoms. Gala Games partnered with Binance Smart Chain for new titles, signaling mainstream adoption of crypto gaming models.

While speculative hype in blockchain gaming has cooled, infrastructure and game quality are improving, driving long-term growth. However, declining user activity and risks like scams suggest caution. (Grok)

News

Markets

May 26, 2025

ASX futures are pointing down 30 points/ 0.4 per% to 8350

AUD +0.0% to US64.89¢

Bitcoin -0.9% to $US107,862
Wall St:
Dow -0.6%
S&P -0.7%
Nasdaq -1%
VIX +2 to 22.29
Gold +1.9% to $US3357.51 an ounce
Brent oil +0.5% to $US64.78 a barrel
Iron ore -1% to $US98.05 a ton
10-year yield: US 4.51% Australia 4.42%

Movie Box Office (U.S)

Early Bird Numbers For The Weekend

May 24, 2025

1. Lilo & Stitch - $175m +

2. Mission Impossible: The Final Reckoning - $77m +

3. Final Destination: Bloodlines

4. Thunderbirds

5. Sinners

6. The Last Rodeo

7. Friendship

8. A Minecraft Movie

9. The Accountant 2

10. Hurry Up Tomorrow

*Developing news and numbers. More specifics within 24 hours!

News

Memorial Day Weekend record to be broken! Weekend numbers will best Top Gun: Maverick numbers: $160.5m

Business, Markets, Culture and World News Today

May 21, 2025

Google Announces $250 Per Month ‘AI Ultra’ Plan

Fans of Google AI products can now access the technology giant’s best offerings in one bundle.

At the Google I/O developers conference Tuesday, the company announced an “AI Ultra” plan that costs $249.99 per month. It has the “highest usage limits and access to our most capable models and premium features,” Google said on its website.

The plan is available today and includes access to Gemini models, the Flow AI film making tool, a higher usage limit Notebook LM, and 30 terabytes of storage.

News

Media giant Warner Bros. downgraded to junk by S&P

The media and entertainment company Warner Bros. Discovery was downgraded to below investment grade by S&P Global Ratings, according to a report on Tuesday. The issuer credit rating was lowered to BB+, one notch below investment-grade’s lowest rung of BBB-.The downgrade to junk status was largely the result of continued revenue and cash flow declines at its linear television business, S&P said.Moody’s and Fitch ratings agencies still both have Warner Bros. rated a step above junk status, at Baa3 and BBB-, respectively. As long as the company retains two high-grade ratings, many investors will still view the company as investment grade.

News

Musk says he will be Tesla boss for next five years

Elon Musk said he’s committed to leading Tesla as chief executive officer in five years’ time, easing the concerns of some investors wary about his level of commitment to the carmaker. Musk, 53, commented on his future at Tesla during a remote appearance Tuesday at the Qatar Economic Forum in Doha. While he criticised a Delaware Chancery Court judge who has twice ruled against the huge pay package the company awarded him in 2018, he said he doubted the issue would affect his decision to stay. “The compensation should match that something incredible was done,” Musk said. “But I’m confident that whatever some activist posing as a judge in Delaware happens to do will not affect the future compensation.”

News

Markets
May 21
Sydney

ASX futures up 47 points/0.6% to 8416
AUD -0.6% at US64.18¢
Bitcoin +1.3% to $US106,932
Dow -0.4% S&P -0.5% Nasdaq -0.5%
Gold +2.0% to $US3294.01 an ounce
Oil +0.2% at $US65.64 a barrel
Iron ore +0.1% at $US99.50 a ton

News

Australia: Mining Business

NSW gold, copper hopeful LinQ Minerals launches IPO

Former Rothschild banker Clive Donner’s LinQ Minerals, set up more than 20 years ago to invest in promising mines, is seeking a spot on the ASX boards.

The 100 per cent owner of the Gilmore gold and copper project in NSW’s North Parkes mining region, LinQ, has hired Alpine Capital and Bell Potter for its sharemarket float.

Fund managers told Street Talk the brokers are seeking to raise $7.5 million to $10 million for a $25 million enterprise valuation. This represents an EV of $15 per ounce, making LinQ a fraction the size of bigger players such as Spartan Resources at $600 per ounce, according to the pitch.

The Gilmore project owns 597 square kilometres, with the most recent mineral resource estimate from last year listing 516 million tonnes that contain about 3.7 million ounces of gold and 1.2 million tonnes of copper across six deposits.

LinQ is hoping to be listed by June 30 and would use part of the proceeds to launch a rig mobilisation and drilling campaign. Prospective investors are to be advised of the expected timeline for the final investment decision and production as the IPO talks progress. (AFR)

News

Australia: Media

Magazines matter to most Australians: over 65%, or 14.9 million, read magazines in print or online (Roy Morgan Summary)

The Roy Morgan Australian Readership report for the 12 months to March 2025 shows that 11.2 million Australians aged 14+ (49.2%) now read print magazines. This market broadens significantly to more than 14.9 million Australians aged 14+ (65.4%) who read magazines in print or online either via the web or an app. Overall, seven of the top 25 most widely read magazines increased their readership over the last year. The most widely read magazine category is Food & Entertainment, with a readership of 7,175,000 (over 3 million ahead of any other category and reaching well over 30% of the population). Meanwhile, Better Homes and Gardens is still Australia's most widely read paid magazine, with a print readership of 1,744,000; the second-placed The Australian Women's Weekly has a print readership of 1,180,000. Australia's two most widely read free magazines are still Coles Magazine (with a print readership of 5,245,000) and Woolworths' Fresh Ideas (4,645,000). These are the latest findings from the Roy Morgan Single Source survey of 69,305 Australians aged 14+ in the 12 months to March.

News

Australia: Media

New Australian free-to-air TV rules could allow alcohol ads from 10am, even on weekends and school holidays

Free TV Australia has proposed a revised code of practice for the nation's commercial broadcasters. Amongst other things, the industry lobby group is pushing for M-rated TV programs to be broadcast for five hours during the daytime, rather than 3 at present; alcohol advertisements are permitted during M-rated blocks of programming, and Free TV Australia wants there to be no restrictions on such ads during weekends and school holidays, when children are most likely to be watching TV. It also proposes retaining the current loophole that allows alcohol ads to be shown during live sports broadcasts.

News

Business News Today

UK-EU Trade Deal Progress: Northern Irish businesses have welcomed a new UK-EU trade agreement that reduces checks on agrifood products moving from Great Britain to Northern Ireland, easing post-Brexit trade frictions. However, some companies, like Mid-Ulster Garden Centre, have already shifted away from British suppliers, reducing the deal’s immediate impact for them.

Home Depot’s Pricing Strategy: Home Depot announced it will maintain current pricing levels despite tariff pressures, leveraging its scale and supplier partnerships. This contrasts with Walmart’s plan to raise prices due to higher tariff costs. Home Depot’s first-quarter earnings missed Wall Street expectations, reporting $3.43 billion in net income, down from $3.60 billion last year.

China’s Economic Moves: China cut benchmark lending rates for the first time since October to support its economy amid ongoing trade tensions with the U.S. Major state banks also lowered deposit rates to stimulate growth.

Cyber Attack on UK Logistics: Peter Green Chilled, a supplier to major UK supermarkets, was hit by a cyber attack. While transport operations continued unaffected, smaller firms like this are less equipped to handle such incidents compared to larger competitors.

Australia’s Interest Rate Cut: Australia’s Big Four banks responded to the Reserve Bank’s decision to cut interest rates by 0.25 percentage points to 3.85%, effective May 30. This move, the lowest rate since May 2023, aims to ease borrowing costs for homes and businesses.

Nvidia’s AI Push: Nvidia announced new technology at Computex 2025 to maintain its AI computing leadership, including NV Link Fusion for semi-custom AI infrastructure. The company also opened its ecosystem to rival chipmakers to counter in-house semiconductor development by clients like Microsoft and Amazon.

Microsoft’s AI Vision: Microsoft is pushing for interoperable AI agents with enhanced memory capabilities, as outlined by its chief technologist ahead of the Build conference. The company also offered to unbundle Teams from Office suites to address EU antitrust concerns.

Crypto Business Concerns: Two co-founders of Dough Finance, a defi startup hit by a hack last year, are now involved in the Trump family’s crypto venture, World Liberty Financial, raising questions about past client losses and liability. (Grok)

News

In Case You Missed It

Pro Wrestling/Sports Entertainment: TKO Group (WWE)

May 14, 2025

TKO COO Mark Shapiro Says WWE Cut Live Events By 75 Percent

WWE has significantly cut back the number of live events it runs, and TKO COO Mark Shapiro recently suggested it will continue to do so. While at the JP Morgan 53rd Annual Global Technology, Media and Communications Conference (credit: Fightful), Shapiro said that the company will ‘continue to prune’ after cutting 75% of their live events.

He said: We cut those house shows down to where now we’re doing 200 events a year. We cut them 75%, the number of house shows that we do. We feel that’s a good place to be and we’ll continue to prune as we go through. WWE has tremendous upside on global partnerships. Tremendous upside on ticket pricing. Tremendous upside on site fees, dynamic pricing, yield management. All areas we’re really focusing and pushing in on as it related to live events. As you saw on our first quarter, our margins significantly expanded as it relates to WWE live events.

News, Markets, Energy, Politics and Culture - Australia, US and World

Markets

May 20, 2025

Australian Dollar: $0.6456 USD (up $0.0060 USD)
Iron Ore June Spot Price (SGX): $99.45 USD (down $0.25)
Oil Price (WTI): $62.71 USD (up $0.22)
Gold Price: $3,230.61 USD (up $29.39)
Copper Price (CME): $4.6640 USD (up $0.0725)
Bitcoin: $105,357.30 USD (up 1.04%)
Dow Jones: 42,792.07 (up 137.33 points)

News

Big tech is back after a brutal reality check, but will the rally last?

Wall Street's so called magnificent seven tech companies have recovered strongly from the hit they took when US President Donald Trump annnounced his 'Liberation Day' tariff splurge on 2 April. They are now up 28 per cent on their April lows, beating the S&P 500 Index, which has returned 19 per cent in the same period. Nick Griffin from Munro Partners is one investor that is confident that US big tech will continue its recovery in the second half of the year, with Griffin claiming that companies like Amazon and Meta are a safer investment than US Treasuries. (RMR)

News

Judge queries Qantas outsourcing 'remorse'

The Federal Court has commenced a hearing to determine the financial penalty Qantas will pay for illegally outsourcing the jobs of ground-handling workers in October 2020. The Transport Workers' Union wants the court to impose the maximum fine of $121m; the union's barrister, Noel Hutley SC, told the court that the outsourcing was the "largest ever" breach of the general protection provisions of the Fair Work and previous industrial relations legislation. Qantas's chief people officer Catherine Walsh told the court that she was "deeply sorry" about the outsourcing, even though it occurred before she joined the airline; Justice Michael Lee responded by noting that Qantas had argued that the affected workers should not be entitled to compensation. (RMR)

News

Telstra's Brady to face grilling over returns

Telstra will hold its investor day in Sydney on 27 May, with its shareholders wanting to see evidence that the telco is increasing returns on invested capital (ROIC). Telstra has conceded it needs to improve ROIC and is investing in artificial intelligence to become more efficient; its ROIC was at eight cent in the six months to December 31, up from 6.8 per cent in the same period a year earlier. Hugh Giddy from Investors Mutual, which owns around $200 million worth of Telstra shares, says that to improve its returns, the telco must raise the prices it charges its wholesale customers – and ensure the increases are passed onto consumer. (Roy Morgan Summary)

News

Gaming

M&A deals on the cards for Light & Wonder

Light & Wonder CEO Matt Wilson says the gaming group is looking at more acquisitions at a time when it is considering if its future lies as a company listed solely on the ASX, or on both the Nasdaq and the ASX. Light & Wonder acquired the charitable gaming assets of Grover Gaming and G2 Gaming in February under a deal worth $US850 million ($1.3 billion), while Wilson says it is looking at possible acquisitions in class II gaming, a term used to refer to games such as Bingo that are played for prizes. (RMS)

News

Personal motive for Ainsworth family's $50m gift

Roy Morgan Summary

The Ainsworth family has donated $50 million to the University of NSW to establish the Ainsworth Endometriosis Research Centre; endometriosis is a chronic disease that impacts up to one in seven women. Lily Ainsworth, the granddaughter of Aristocrat Leisure founder Len Ainsworth, suffers from the condition, as does her mother Anna; Lily Ainsworth says she has endured endometriosis pain since she was 15. Endometriosis occurs when tissue that is similar to the inner lining of the uterus grows outside the uterus, and it causes pain, inflammation and scarring, and can impact fertility. (RMS)

News

Lachlan Murdoch's Nova under scrutiny for not lodging accounts

Owned by billionaire media mogul Lachlan Murdoch for more than a decade, Nova Entertainment owns the Australian radio brands Smooth FM and Nova. It has been under scrutiny from the Australian Taxation Office for more than a year, while earlier this year, it admitted it had failed to file more than 40 annual account statements with the Australian Securities & Investments Commission over 15 years. Nova's latest accounts reveal that it had revenue of $187.8 million in 2024, up from $185.9 million the year before; it posted a profit of $24.1 million, down from $27.9 million. (RMS)

News

MinRes lands new chair with $8.3m carrot

Iron ore and lithium producer Mineral Resources has appointed Malcolm Bundey to succeed executive chairman James McClements. Bundey's remuneration will include an annual salary of $750,000 in cash and shares, plus 780,000 stock options that will vest over three years; Bundey could potentially gain about $8.3m over this period if he succeeds in turning around the company. Jeffrey Jackson from shareholder advisory group Open Engagement has questioned the options component, noting that stock-based remuneration is usually reserved for a company's executives rather than directors. Bundey's lack of experience in the mining sector may also attract scrutiny. (RMS)

News

New Hope's boom over as coal price slump hits sales

New Hope Corporation's shares fell 7.1 per cent to $3.65 on Monday, after the coal miner posted underlying earnings of $155.2m for the three months to 30 April; this is 27 per cent lower than previously. New Hope received an average of $US147.50 per tonne for its thermal coal during the quarter, compared with $US159 per tonne in the previous quarter; the price of thermal coal had peaked at $US432.45 per tonne in 2022. Meanwhile, the company expects full-year production to be within the range of 15.93 million to 17.45 million tonnes, which is three per cent higher than previously. (RMS)

News

Perenti's Barminco inks $500m Agnew underground contract renewal with Gold Fields

Barminco has secured a $500 million contract renewal with Gold Fields to continue its underground mining work at Gold Field's Agnew mine near Leinster in Western Australia. Barminco, which is the underground mining services division of Perenti, has been working underground at Agnew since 2010, and currently employs around 300 people there. Barminco's new contract with Gold Fields will run for three years, with the option of an additional year, while Agnew produced 229,500 ounces of gold in 2024, compared to 244,900oz. (Roy Morgan Research)

News

World Headline News

Gaza Crisis: The first aid trucks have entered Gaza after nearly three months of Israel’s blockade, but allies are threatening sanctions and urging more aid. Israel announced "Operation Gideon's Chariots," a new ground offensive, while stating it will allow a "basic amount of food" to prevent a hunger crisis.

Ukraine-Russia Conflict: Russia launched its largest drone attack on Ukraine, deploying 273 drones, ahead of a call between U.S. President Donald Trump and Russian President Vladimir Putin aimed at stopping the "bloodbath." Trump later backed off a direct meeting with Putin, pushing for Ukraine-Russia talks, but peace negotiations show little progress.

UK-EU Relations: The UK and EU struck a post-Brexit "reset" deal, including a defense partnership and reduced trade barriers. Discussions also cover fishing rights, youth schemes, and UK access to EU passport e-gates.

Romanian Election: Liberal mayor Nicusor Dan won Romania’s presidency, defeating a right-wing nationalist in a tense race amid political turbulence.

Papal Inauguration: Pope Leo XIV called for unity at his inaugural Mass, attended by world leaders including Ukraine’s Volodymyr Zelensky. He offered to host peace talks for Ukraine.

Mexican Navy Incident: A Mexican navy ship crashed into the Brooklyn Bridge during a celebration of Mexico’s independence, killing two sailors and injuring 22.

U.S. Terrorism Incident: A bombing at a Palm Springs fertility clinic, deemed an "intentional act of terrorism," killed one person. The FBI has a person of interest, possibly the deceased.

These stories reflect major global events as of May 20, 2025. (Grok)

News

Pop Culture/Pro Wrestling: WWE

May 19, 2025 (South Carolina, USA)

Red Hot WWE RAW On Netflix

Paul Heyman Guys aka 'Trifecta Of Terror'
Jey Uso vs Bron Breakker; Warm Up For Uso To Face Lon Paul at Saturday Night's Main Event This Weekend!

Phenomenal Penta Tag Team Match - Penta and Styles vs Judgement Day

Australia's Rhea Ripley Progresses In Women's Money In The Bank Qualifiers; Stark gets legit injury off missile dropkick attempt

Judgment Day: Rozanne Perez Gifts Chicken Tenders For Dom and Apples For Carlito!

Aussie Grayson Waller Cops Beating By Sheamus, Waller's tagteam partner Austin Theory Laughs And Grin To Grin at Waller's fall!

Aussie Tsunami Bronson Reed Continues To Post On X With Rehab Of Leg And Foot Recovery re leap of top of cage month ago at Survivor Series: WarGames.

News

Movie Box Office (US)

May 18, 2025

1. Final Destination: Bloodlines - $51m
2. Thunderbolts* - $16.5m
3. Sinners - $15.4m
4. A Minecraft Movie - $5.9m
5. The Accountant 2 - $5m
6. Hurry Up Tomorrow - $3.3m
7. Friendship - $1.4m
8. Clown in a Cornfield $1.3m
9. Until Dawn - $800,000
10. The Amateur - $712,000

*correct at time of publication to best of knowledge

News

Best Quotes

Mining

Mining is the art of exploiting mineral deposits at a profit. An unprofitable mine is fit only for the sepulcher of a dead mule.

Don't die without mining the gold in your mind.

Anyone can find the dirt in someone. Be the one that finds the gold.

Praise like gold and diamonds, owes its value only to its scarcity.

Make new friends, but keep the old; Those are silver, these are gold.

Everything has its limit - iron ore cannot be educated into gold.

The desire of gold is not for gold. It is for the means of freedom and benefit.

Best Quotes

News

News from afar is seldom sooth."

"A reporter is always concerned with tomorrow. There's nothing tangible of yesterday."

"If you don't read the newspaper, you're uninformed."

"News is something somebody doesn't want printed; all else is advertising."

"TV news has no intention of suggesting that any story has any implications, for that would require viewers to continue to think about it when it is done and therefore obstruct their attending to the next story."

Cryptos and Markets

Cryptos

Cryptos Today: (Near Live)

May 19, 2025
Sydney, Australia

Bitcoin $104,266.52 USD +0.52%
ETH $2,421.78 USD -3.18%
Tether $1.00 USD -0.41%
XRP $2.39 USD +1.05%
BNB $644.71 USD -0.00%
Solana $168.47 USD +0.54%
USD Coin $1.00 USD -0.13%
Dogecoin $0.2251 USD +3.48%
Cardano $0.7427 USD -0.85%
TRON $0.2662 USD -2.40%
Wrapped Bitcoin $104,441.92 USD +0.75%

News

XRP News

Price Movement: XRP is trading around $2.40-$2.55, with a recent peak at $2.65 on May 14, 2025. It’s up over 366% in the past year but dipped 1.6% recently due to market consolidation and legal uncertainties. Analysts suggest a potential rally to $3.00 if it breaks the $2.72 resistance, supported by bullish indicators like RSI and low exchange inflows. Some predict explosive growth to $5.90, $15, or even $123 based on technical patterns, though these are speculative.

SEC vs. Ripple Lawsuit: The ongoing legal battle with the SEC remains pivotal. On May 15, Judge Analisa Torres rejected a joint SEC-Ripple motion to amend a prior settlement due to procedural issues, leaving the case in limbo. Despite this, Ripple’s legal chief confirmed XRP’s non-security status remains intact. A $50 million settlement was briefly finalized, but renewed scrutiny and the SEC’s push to lift restrictions on institutional XRP sales have stirred uncertainty. A resolution could pave the way for XRP-spot ETF approvals.

ETF Speculation: Hopes for an XRP-spot ETF have driven price surges, with filings from firms like 21Shares, Bitwise, and Franklin Templeton. However, BlackRock’s silence after SEC talks and a delayed decision on Solana ETFs (with XRP ETF deadlines looming in June) have tempered optimism. Experts warn an ETF might not fully align with XRP’s utility-driven adoption.

Market and Adoption: XRP hit $1.2 billion in daily trading volume in South Korea, surpassing Bitcoin and Ethereum. Ripple’s technological advancements include EVM sidechains for blockchain interoperability and shared MPC wallets for secure custody. President Trump’s endorsement of XRP as a potential strategic reserve currency and Missouri’s crypto tax break law have fueled bullish sentiment. Ripple’s acquisition of Hidden Road could lock up 5% of XRP’s circulating supply, potentially driving prices to $5-$15 short-term.

Futures and IPO Buzz: The CME Group is set to launch XRP futures today, May 19, 2025, a move seen as a step toward institutional adoption and potential ETF approval. Speculation about a Ripple IPO, possibly valuing the company at $100 billion, continues to grow, with SBI Holdings noting XRP in escrow won’t count toward valuation until the IPO.

Community Sentiment: XRP’s community is optimistic, with commentators like “J4b1” calling May 19 a potentially historic day, possibly tied to the futures launch or legal developments. However, claims of a finalized SEC settlement by May 19 appear unverified. Posts on X highlight excitement but also speculative narratives, like BlackRock buying XRP, which lack confirmation.

Critical Note: While bullish projections abound, some analysts caution that historical patterns may not hold, and regulatory hurdles could persist. Always verify claims, especially from X posts, as they can be speculative or misleading. For the latest, check trusted sources or monitor Ripple’s official channels. (Grok)

News

Dogecoin News

Price Movements and Market Performance: Dogecoin has shown significant volatility, with a recent 48.7% surge over the past month, trading around $0.223 as of May 18, 2025. It reached a high of $0.248 in early May but faced a slight pullback, consolidating near $0.22–$0.23. Analysts suggest a potential breakout above the $0.25–$0.26 resistance could spark a new bull run, with price targets ranging from $0.30 to $0.70 in the next 30 days, and some optimistic forecasts eyeing $1 in 2025. However, a "death cross" on technical charts indicates midterm bearish risks, making the $0.21 support level critical.

Whale Accumulation: On-chain data reveals that Dogecoin whales have accumulated over 1 billion DOGE in the past month, signaling strong confidence in future price gains. This activity, coupled with an 800% surge in daily active addresses (reaching 674K, the highest since November 2024), suggests robust network engagement and potential for an explosive price move if support holds.

ETF Speculation: Enthusiasm is growing around four Dogecoin ETF applications under SEC review, including one from 21Shares in partnership with the Dogecoin Foundation. Bloomberg analysts estimate a 75% chance of approval in 2025, which could drive mainstream adoption and price growth. This news contributed to a 528% spike in active addresses on May 13, from 74,640 to 469,477.

Network and Ecosystem Developments: The Dogecoin Foundation is pushing for broader adoption through DogeOS, an app layer for gaming, AI, and DeFi, backed by $6.9 million in investment. This aims to transform Dogecoin from a meme coin to a utility-driven asset, potentially supporting its $100 billion market cap goal.

Market Sentiment and Speculation: Posts on X reflect bullish sentiment, with unverified claims of PayPal accepting Dogecoin payments circulating, though these lack confirmation. Additionally, Dogecoin’s futures open interest surged from $989 million to $1.62 billion, indicating heightened speculative trading. Some analysts warn of overheating risks, but others see room for growth before a cycle top.

Cautions and Risks: Dogecoin creator Billy Markus warned about a potential asset bubble that could crash the global economy, though specifics were vague. Geopolitical tensions and trade policy shifts continue to influence crypto markets, adding uncertainty. The coin’s volatility and reliance on speculative momentum remain concerns. (Grok)

News

Bitcoin Movie News

Michael Saylor’s $40BN Bitcoin Bet: The Financial Times released a documentary exploring Michael Saylor’s bold corporate investment in Bitcoin, highlighting his journey from corporate strategy to crypto prominence. Posts on X indicate strong interest, describing it as a must-watch for Bitcoin enthusiasts.

Everyone Is Lying To You For Money: Set to premiere at SXSW London in June 2025, this crypto-skeptical documentary features interviews with former FTX and Celsius CEOs, Sam Bankman-Fried and Alex Mashinsky, and examines El Salvador’s Bitcoin adoption under President Nayib Bukele.

Crypto Man: A South Korean crypto-themed film based on true events, slated for release in January 2025, was in post-production as of December 2024.

Satoshi Nakamoto Film: Directed by Sophia Banks, this upcoming feature film, based on Andrew O’Hagan’s “The Satoshi Affair,” will explore the mystery of Bitcoin’s enigmatic creator.

Biggest Heist Ever: Netflix’s 2024 documentary details the 2016 Bitfinex hack by Ilya Lichtenstein and Heather Morgan, who laundered $4.5 billion in Bitcoin, dubbed “Bitcoin’s Bonnie and Clyde.”

Aimy in a Cage: This 2015 dystopian horror film, adapted from a graphic novel, was the first movie fully funded by Bitcoin, allowing director Hooroo Jackson to maintain creative control.

Cold Wallet: A 2025 thriller about cryptocurrency fraud, presented by Steven Soderbergh, has been praised for its suspenseful take on a home invasion tied to crypto.

These projects reflect growing cinematic interest in Bitcoin’s cultural, financial, and criminal dimensions.

News

Best Quotes Of The Day

“If you don't believe me or don't get it, I don't have time to try to convince you, sorry.” - Satoshi Nakomoto, Founder of Bitcoin

Markets

ASX futures down 7 points/0.1% to 8360 on Sat

Australian dollar +0.1% to 64.10 US cents

Wall Street:
S&P 500 +0.8%
Dow Jones +0.7%
Nasdaq +0.5%

Europe:
Stoxx 50 +0.3%
FTSE +0.6%
DAX +0.3%
CAC +0.4%

Bitcoin +0.9% to $US104,244

Spot gold -1.1% to $US3203.65 per ounce on Saturday

US oil +1.4% to $US62.49 a barrel on Saturday

Brent crude oil +1.4% to $US65.41 a barrel on Saturday

Iron ore -1.5% to $US99.70 per ton (Singapore 62% grade)

10-year yield:
US 4.48%
Australia 4.45%
Germany 2.59%

News, Markets, Comms and Culture

May 15, 2025

Sydney, Australia

Markets

Australian Dollar: $0.6420 USD (down $0.0050 USD)
Iron Ore June Spot Price (SGX): $101.70 USD (up $2.10 )
Oil Price (WTI): $62.89 USD (down $0.74)
Gold Price: $3,179.41 USD (down $72.13)
Copper Price (CME): $4.6435 USD (down $0.0650)
Bitcoin: $103,541.08 USD (down 0.93%)
Dow Jones: 42,051.06 (down 89.37 points)

News

Australia

Miners, energy help ASX to sixth day of gains

The Australian sharemarket posted a modest gain on Wednesday, with the S&P/ASX 200 adding 0.1 per cent to close at 8,279.6 points. Fortescue was up 2.2 per cent at $16.97, Woodside Energy rose 3.4 per cent to $22.31 and the Commonwealth Bank firmed 0.8 per cent to end the session at $167.50. However, Insignia Financial shed 15.8 per cent to finish at $3.37 and Aristocrat Leisure was down 8.9 per cent at $62.10. (Roy Morgan Summary)

News

Media

CNN and Fox take on their own legacies with new streaming services

Fox Corporation is set to launch its third streaming service in the US. Fox One will feature content from across the media group's operations, including news, sport and entertainment. It will complement Fox Corp's existing Fox Nation streaming news channel and Tubi, a free advertising supported general entertainment streaming platform. Meanwhile, Warner Bros Discovery-owned CNN plans to launch a news streaming service that will be bundled with subscriptions to http://cnn.com. Fox Corp and CNN are both confident that their new streaming products will not cannabilise the customer base for their cable TV services. (RMS)

News

Rio shows we must invest in green iron: Fortescue boss

Rio Tinto recently advised that the iron content of its flagship 'Pilbara Blend Fines' product will be downgraded by nearly one percentage point, to 60.8 per cent; BHP had previously reduced the iron content of two iron ore products in 2024. Fortescue CEO Dino Otranto says the trend underlines the need for Australia to invest in more domestic refining, in order to produce higher-grade iron ore. Otranto has indicated that Fortescue is on track to finish construction of a green iron plant at its Christmas Creek iron ore hub and produce commercial quantities of green iron by the end of 2025. (Roy Morgan Summary)

News

Beware the rally in iron ore above $US100, it might not last

The iron ore price has peaked at more than $US101 per tonne in Singapore trading on Wednesday, which is its highest level in about six weeks. Factors such as the easing of trade tensions between the US and China have bolstered the price of the steel input, although market watchers say the rebound is unlikely to be sustained. Headwinds include steel production cutbacks in China and a looming increase in global iron ore supply as new projects in Africa start to commence shipments. (RMS)

News

Core Lithium plan to revive mothballed Finniss

Perth-based Core Lithium has advised that it may resume operations at its Finniss mine in the Northern Territory. The mine was placed in 'care and maintenance' mode in 2024, in response to a sharp downturn in the price of lithium. Core hopes a plan to significantly reduce mining and processing costs at Finniss, while also boosting productivity, will enable the mine to reopen. CEO Paul Brown says the quality of the Finniss deposit and its proximity to the Port of Darwin gives it an advantage over rival lithium mines in Western Australia. (RMS)

News

Australian Mining News

WA Mining Conference and Exhibition: Scheduled for October 8–9, 2025, in Perth, this event will focus on critical minerals, mine waste management, and innovative technologies shaping the industry’s future. It aims to be a key platform for networking and industry insights.

Global Resources Innovation Expo (GRX25): Set for May 20–22, 2025, in Brisbane, GRX25 will feature industry leaders like Owen Hegarty, discussing transformation and sustainability in mining.

Carbine Resources: The company secured a 21-year mining lease for its Muchea West silica sand project in Western Australia, marking a significant milestone.

Federal Government Cabinet: Following the re-election of Prime Minister Anthony Albanese, the new cabinet has been welcomed by mining bodies. The government is pushing the Critical Minerals Production Tax Incentive (10% refundable tax offset for processing 31 critical minerals) and a Hydrogen Production Tax Incentive ($2/kg for renewable hydrogen).

Prospect Awards 2025: Nominations are open for the Australian Mining Prospect Awards, recognizing excellence in safety, occupational health, and industry leadership.

Legacy Minerals: The company is advancing the Nico Young nickel-cobalt project in New South Wales, leveraging prior work by Jervois Global to reduce costs and accelerate development.

Rio Tinto’s Winu Project: Rio Tinto and Sumitomo Metal Mining signed final joint venture agreements for the Winu copper-gold project in Western Australia’s Great Sandy Desert.

Sibanye-Stillwater: The company reported a 92% increase in zinc production (25,000 tonnes) at its Century zinc retreatment operation in Queensland for the March 2025 quarter, with a feasibility study for the Mt Lyell copper mine in Tasmania due by late 2025.

Tivan’s Speewah Fluorite Project: Tivan formed a joint venture with Sumitomo Corporation, supported by a $5.3 million investment and government funding, to develop Australia’s first fluorite operation in Western Australia.

Hillgrove Resources: The Kanmantoo copper mine in South Australia produced 811 tonnes of copper in April, with annual guidance set at 12,000–14,000 tonnes for 2025.

Critical Minerals and Sustainability: Australia’s mining sector is poised to lead in the global energy transition, with growing demand for critical minerals and a focus on innovation and sustainable practices.

Queensland Mining Coroner: Wayne Pennell was appointed Queensland’s first mining and resources coroner to investigate fatalities and address a backlog of inquests, enhancing safety accountability.

Social Media Sentiment: Posts on X highlight ongoing exploration (e.g., Verity Resources’ Monument Gold Project) and acquisitions (e.g., Terra Metals’ Dante Project expansion), reflecting active industry momentum. However, a 119% mining rate hike by a Goldfields council has sparked concern among local explorers. (Grok)

News

Pop Culture/Entertainment

Media Movies

Network (1976) - Directed by Sidney Lumet, this satirical drama follows a TV network exploiting a deranged anchor’s rants for profit, highlighting media sensationalism. Stars Faye Dunaway and Peter Finch.

Nightcrawler (2014) - A thriller by Dan Gilroy about a drifter (Jake Gyllenhaal) who becomes a freelance crime journalist, blurring ethical lines for fame. It’s a sharp critique of modern media’s vulture-like tendencies.

Zodiac (2007) - Directed by David Fincher, this film chronicles a cartoonist-turned-detective’s obsession with the Zodiac Killer, exploring media’s role in public fear and fascination.

Citizen Kane (1941) - Orson Welles’ classic traces the life of a newspaper magnate, loosely based on William Randolph Hearst, examining media power and personal ambition.

Sweet Smell of Success (1957) - A biting satire about a ruthless press agent and a powerful columnist, showcasing media manipulation with sharp dialogue.

News

Gold: Movie

Gold (2016) is a crime drama inspired by the 1990s Bre-X mining scandal. Matthew McConaughey stars as Kenny Wells, a prospector who partners with geologist Michael Acosta (Édgar Ramírez) to find gold in Indonesia. After striking it rich, their success unravels amid fraud and betrayal. Directed by Stephen Gaghan, the film explores greed and ambition but received mixed reviews for its uneven tone and pacing. It grossed $14.8 million against a $20 million budget. Available on platforms like Hulu or Amazon Prime (check current listings). (Grok)

News/Profile

Gold (1974)

Gold (1974) is a British thriller directed by Peter R. Hunt, based on Wilbur Smith's novel Gold Mine. Set in South Africa, it follows Rod Slater (Roger Moore), a mining engineer, who uncovers a conspiracy to flood a gold mine to manipulate global gold prices. The plot involves corporate greed, sabotage, and high-stakes action, with Slater racing to stop the scheme.

Cast: Roger Moore, Susannah York, Ray Milland, Bradford Dillman.

Key Details: 120 min, rated PG, released August 1974 (UK). Filmed on location in Johannesburg, featuring intense mining scenes.

Reception: Mixed reviews; praised for action and Moore’s charisma, criticized for pacing and dated elements. IMDb rating: 5.7/10.

Availability: Limited streaming; available for rent/purchase on platforms like Amazon or on DVD.

News

Bitcoin Movies Streaming

Money Electric: The Bitcoin Mystery (2024, HBO)

A documentary by Cullen Hoback exploring Bitcoin’s origins and the identity of Satoshi Nakamoto. It’s a thrilling investigation into Bitcoin’s rise and its potential impact on global finance.

Streaming: Available on HBO’s streaming platform, Max. Check JustWatch for additional services or free options like Apple TV+ trials.

Bitconned (2024, Netflix) A true-crime documentary about three individuals who scammed millions in the unregulated crypto market to fund lavish lifestyles. Streaming: Exclusively on Netflix.

Banking on Bitcoin (2016)

A popular documentary diving into Bitcoin’s impact, its challenge to centralized banking, and its early history. It’s a great pick for understanding Bitcoin’s ethos. Streaming: Available on Amazon Prime Video (free for subscribers), Fandango at Home, and for purchase/rent on Amazon, YouTube Primetime, or Apple TV.

The Rise and Rise of Bitcoin (2014)

Follows programmer Daniel Mross and early Bitcoin adopters, offering insights into Bitcoin’s volatile early days. Ideal for beginners.
Streaming: Available on Prime Video, Fandango at Home, and for purchase on iTunes or Amazon.

Bitcoin: The End of Money as We Know It (2015)

A concise documentary tracing the history of money and Bitcoin’s potential to disrupt fiat systems. Features experts like Andreas Antonopoulos.

Streaming: Available on Amazon Prime, YouTube, and Fandango at Home. Free on YouTube in some regions (e.g., Ulterior States).

Notes on Streaming with Bitcoin:

Major platforms like Netflix and HBO Max don’t directly accept Bitcoin payments. However, you can use crypto via gift cards purchased from platforms like Bitrefill, Coinsbee, or eGifter, which offer cards for services like Amazon, Fandango, or Rakuten, usable for streaming or movie tickets.

For example, Bitrefill sells Showtime or Rakuten gift cards (for US, Spain, Portugal, Italy) payable with Bitcoin, Ethereum, or Dogecoin.

Crypto debit cards from providers like http://Crypto.com or Coinbase can also convert Bitcoin to fiat for subscriptions or purchases at non-crypto-accepting platforms.

Additional Tips:

Check platforms like JustWatch or IMDb for real-time streaming availability, as services change frequently.

Some older documentaries, like Ulterior States (2014), are freely available on YouTube, offering ideological perspectives on Bitcoin’s early days.

Be cautious with free streaming sites; some, like Openload or Streamango, have been linked to crypto-jacking schemes that mine Monero using your device’s CPU. (Grok)

Cryptos Today: (Near Live)

May 13, 2025
Sydney, Australia

Bitcoin $102,452.96 USD -1.57%
ETH $2,473.59 USD -1.39%
Tether $0.9993 USD -0.10%
XRP $2.53 USD +7.21%
BNB $662.27 USD +1.78%
Solana $172.50 USD -0.12%
USD Coin $0.9993 USD -0.07%
Dogecoin $0.2295 USD -1.04%
Cardano $0.8162 USD +0.72%
TRON $0.2732 USD +3.10%
Wrapped Bitcoin $102,406.50 USD -1.66%

News

Cryptocurrency News

Bitcoin Price Surge: Bitcoin has surpassed $100,000, briefly touching $105,000, driven by optimism around global trade deals, particularly U.S.-U.K. agreements and ongoing U.S.-China talks. Analysts warn of a potential short-term sell-off ahead of the May 13 CPI print, with BlackRock noting quantum computing as a risk for Bitcoin ETFs.

Ethereum Rally: Ethereum (ETH) has surged over 44% in three days, reaching $2,600, fueled by the Pectra network upgrade and declining Bitcoin dominance. Analysts speculate ETH could hit $10,000 or even $12,000 in 2025 due to institutional adoption, DeFi growth, and a high ETH burn rate.

Altcoin Momentum: Altcoins like Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) are rallying, with DOGE up 27% and ETH leading with a 32% weekly gain. Bitcoin’s dominance has dropped to 63.89%, signaling a potential altcoin season.

Meta’s Crypto Plans: Leaked reports suggest Meta is exploring cryptocurrency support for its 3 billion users, potentially integrating stablecoins for creator payments, which could boost market sentiment.

Regulatory Developments: SEC Chairman Paul Atkins is prioritizing a rational crypto regulatory framework, with XRP noted as the only regulated cryptocurrency in the U.S. However, a bipartisan stablecoin bill (GENIUS Act) stalled due to concerns over Trump’s personal crypto ventures, raising conflict-of-interest issues.

Market Inflows: Crypto investment products saw $882 million in inflows last week, with U.S. crypto ETFs hitting a record $62.9 billion in cumulative net inflows since January 2024. BlackRock’s Bitcoin ETF recorded a 19th consecutive day of inflows on May 9.

Other News: Coinbase acquired Deribit for $2.9 billion, expanding its derivatives offerings. New Hampshire passed a law allowing state investment in cryptocurrencies. France’s rumored crypto ban was mentioned on X but lacks credible confirmation and should be treated as speculative. (Grok)

Blockchain News

Meta’s Blockchain Push: Meta is reportedly exploring a blockchain-based payment system, potentially offering low-cost digital transfers. This follows their unsuccessful Diem project, signaling renewed interest in blockchain integration.

Crypto in Education: Animoca Brands’ Yat Siu highlights blockchain’s potential in education, particularly through DeFi student loan financing. Ripple’s $25 million donation to a crypto education fund underscores growing academic influence.

XRP and Interoperability: XRP is expanding into multichain interoperability, connecting with Cosmos and EVM sidechains. With 200+ financial partners, it aims to bridge traditional finance and crypto ecosystems.

Avalanche and Web3 Gaming: Avalanche’s John Nahas emphasizes blockchain as seamless backend infrastructure for gaming, citing examples like Gunzilla Games’ “Off the Grid,” which leverages blockchain for user ownership.

Policy Shifts: The Trump administration is driving a pro-crypto agenda, with plans to integrate blockchain into financial systems. Bank regulators are exploring blockchain-based payment systems, a stark contrast to previous skepticism.

Robinhood’s Blockchain Platform: Robinhood is developing a blockchain-based platform for trading tokenized US securities in Europe, potentially partnering with Arbitrum or Solana.

Ethereum’s Pectra Upgrade: Ethereum’s latest upgrade introduces features like smart wallets and lower fees but has raised concerns about a new attack vector that could allow hackers to drain funds.

Other Developments: Brave is integrating Cardano into its browser wallet, and MBS Global plans a $9 billion blockchain financial hub in the Maldives.

For real-time updates, platforms like Cointelegraph or CryptoSlate on X are active sources,

News

Crypto market slows down, nearing a top

Market Picture

The crypto market slowed down but continued to move upwards over the weekend, reaching $3.35 trillion. For the past few days, it has been trading in the region of the highs since early February. Ethereum and Dogecoin have been the stars of this movement, adding around 40% in seven days, although the former's contribution is certainly more significant.

The crypto market's sentiment is consolidating in the greed zone, leaving the corresponding index at 70 for the last three days. This is a good basis for continued gains: not too hot to take profits and not too cold to leave traders on the sidelines.

Bitcoin rallied above $105.5k on Monday morning, entering the area of highs where it has twice failed to hold over the past six months. The impressive corrective pullback from late January to early April, in our opinion, created substantial margin for a new wave of growth. Therefore, we will not be surprised if, along with the positive dynamics of stocks, BTCUSD will move to the renewal of historical highs already this week.

News Background

On the weekly bitcoin chart, after the upward breakout of the ‘bull flag’ pattern, a further rise to $182,000 is possible, given the growth before the downward consolidation. Cointelegraph presented such a scenario.

Significant inflows into spot bitcoin ETFS in the US continued for the third week in a row. According to SoSoValue data, weekly net inflows into spot BTC-ETFS totalled $921 million, bringing the total to $41.16 billion since bitcoin-ETFS were approved in January 2024.
Inflows into spot Ethereum-ETFS in the US broke after two weeks, recording a small net outflow of $38.2 million to $2.47 billion since last July.

Cryptoquant noted that the strategy firm's pace of bitcoin purchases exceeds the rate at which miners are issuing new coins. The firm's holdings alone imply an annual deflation of the asset of 2.23%.

Public mining companies sold about 70% of mined bitcoins in April against a falling mining profitability, TheMinerMag calculated. Since March, miners seemed to be moving away from the HOLDing strategy that had prevailed last year.

Over the years, Coinbase has considered investing a significant portion of its savings in bitcoin, following the example of Strategy, but abandoned the idea because of the risks, said Brian Armstrong, head of the exchange. (FxPro)

News

Markets

ASX futures are pointing up 97 points/1.2% to 8364

AUD -0.0% to US63.70¢

Bitcoin -1.6% to $US102,525
Wall St:
Dow +2.8% S&P +3.3% Nasdaq +4.4%
VIX -3.51 to 16.03
Gold -0.03% to $US3235.57 an ounce
Brent oil +1.8% to $US65.03 a barrel
Iron ore +3.2% to $US100.00 a ton
10-year yield: US 4.47% Australia 4.36%

News

May 12, 2025

Investors ramp up crypto spree as bitcoin nears record high

Australian investors have pounced on the plunge in bitcoin earlier this year and have been ramping up exposure to the cryptocurrency in a bold bet that could pay off handsomely, with analysts tipping prices to hit $US200,000 this year.

The world’s largest digital asset crossed the key $US100,000 level last week for the first time since February. Bitcoin extended that rally on Monday to trade near $US105,000, just shy of its record of around $US109,000 on January 20 – the day US President Donald Trump was inaugurated.

It represents a stunning turnaround for the cryptocurrency, which traded as low as $US74,000 in early April amid Trump’s escalating trade war. But sentiment started to shift as traders hunted for alternatives to US assets as they questioned the stability of the world’s largest economy.

“Bitcoin appeared to benefit from capital rotation associated with ‘sell-America’ positioning and growing scepticism around US monetary dominance,” Global X investment analyst Justin Lin told The Australian Financial Review after upgrading his year-end price target to $US200,000.

The trend was reinforced by a resurgence in global bitcoin exchange-traded funds in April, with investors adding $US2.9 billion ($4.5 billion) to those vehicles. That marked a sharp reversal from February and March, when more than $US5 billion in total was pulled from the space.

A further $US1.58 billion of flows moved into global bitcoin ETFs in the first eight days of May, according to US-listed crypto exchange Coinbase.

In Australia, local ETFs have attracted $148 million in inflows so far this year – more than double compared to the same period in 2024.

And unlike the US, Australian investors have been consistent buyers throughout this year. Local bitcoin ETFs experienced $6.9 million of inflows in March and $20.5 million in new flows in April, according to Global X.

Trump gala

The second-largest digital token, ethereum, has also been swept up in last week’s rally, surging as much as 33 per cent in its steepest weekly gain since 2021, when low interest rates fuelled the pandemic-era crypto boom.

While ether has benefited from easing global trade tensions, the token was boosted by a network upgrade designed to reduce fees, improve network efficiency and enable more complex wallet functionalities – moves seen as necessary to fend off competition from faster-growing rivals like solana.

Trump has become an advocate of digital assets during his second term by rolling back legal actions against many companies in the sector, establishing a bitcoin reserve, easing regulation and even launching his own memecoin.

The president is due to host a private gala dinner on May 22 with the top 220 holders of the Trump memecoin, an event that could mark a “turning point” for the broader cryptocurrency market, according to Global X’s Lin.

“[The event’s] symbolic value is significant,” he said. “It could serve as a launchpad for broader crypto-friendly rhetoric and possibly renewed regulatory commitments. Any such pivot would inject momentum into the sector.” (AFR) *Full article and coverage via subscription to The Australian Financial Review.

News

Cryptocurrency Movies

Here’s a concise rundown of notable cryptocurrency-themed movies and documentaries, blending education and entertainment, based on their relevance to blockchain, Bitcoin, and digital currencies:

Documentaries

The Rise and Rise of Bitcoin (2014)
Follows early Bitcoin adopters like Daniel Mross, exploring Bitcoin’s origins, volatility, and potential to disrupt finance. Insightful for understanding the early crypto community. Available on various streaming platforms.

Banking on Bitcoin (2016)
Chronicles Bitcoin’s ideological roots and its impact on financial systems, featuring interviews with key crypto figures. Great for grasping Bitcoin’s societal implications. Available on Netflix and other platforms.

Trust Machine: The Story of Blockchain (2018)
Explores blockchain’s broader applications beyond cryptocurrency, demystifying the technology’s potential. Funded and distributed via blockchain, it’s a unique watch. Available on Prime Video.

Bitcoin: The End of Money as We Know It (2015)
A 60-minute dive into the history of money and Bitcoin’s role in challenging centralized finance. Features experts like Vitalik Buterin. Streamable on platforms like YouTube.

Trust No One: The Hunt for the Crypto King (2022)
A Netflix documentary investigating the mysterious death of QuadrigaCX CEO Gerry Cotten and the $250 million in missing investor funds. Gripping for scam enthusiasts.

Biggest Heist Ever (2025)
A Netflix documentary detailing the 2016 Bitfinex hack, where 120,000 Bitcoin (worth over $4 billion) were stolen. Focuses on Heather Morgan (aka Razzlekhan) and Ilya Lichtenstein. A fresh take on crypto crime.

Feature Films

Crypto (2019)
A crime thriller starring Beau Knapp, Luke Hemsworth, and Kurt Russell. Follows a Wall Street banker uncovering a cryptocurrency-fueled money laundering scheme in his hometown. Critically mixed but engaging for drama fans. Available on Google Play and Prime Video.

Silk Road (2021)
A crime drama about Ross Ulbricht and the dark web marketplace Silk Road, where Bitcoin was the primary currency. Explores the legal and ethical complexities of crypto in illicit markets. Available on streaming services like Fandango.

Dope (2015)
A coming-of-age comedy-drama where high schoolers use Bitcoin for a dark web drug transaction. Not crypto-centric but an early mainstream nod to Bitcoin’s cultural presence. Streamable on Netflix.

Bitcoin Heist (2016)
A Vietnamese action-comedy about undercover agents chasing a crypto hacker, “The Ghost.” Blends suspense and humor, offering a lighthearted take on crypto crime. Available on Prime Video.

Why Watch These?
These films range from educational documentaries to thrilling fictional tales, reflecting crypto’s rise, scandals, and societal impact. Documentaries like Banking on Bitcoin and Trust Machine are ideal for learning about blockchain’s mechanics and potential, while thrillers like Crypto and Silk Road dramatize the risks and allure of digital currencies. For 2025, Biggest Heist Ever is a must-watch for its fresh perspective on a massive crypto theft.

Where to Watch

Most are available on Netflix, Prime Video, Google Play, or Fandango. Check specific platforms for availability in your region. (Grok)

News

Bitcoin Movies On Netflix

Netflix currently offers a few movies and documentaries focused on Bitcoin and cryptocurrency. Here are the most notable ones available as of my last update:

Bitconned (2024) - A true-crime documentary about three individuals who exploited the cryptocurrency market, scamming millions from investors to fund lavish lifestyles. It dives into the darker side of crypto with a focus on the Centra Tech scam. [IMDb: 6.5]

Trust No One: The Hunt for the Crypto King (2022) - This documentary explores the mysterious death of Gerald Cotten, founder of the QuadrigaCX exchange, and the $250 million in investor funds that vanished. It follows investors turned amateur detectives unraveling the scandal. [IMDb: 6.3]

Hotel Bitcoin (2024) - A Spanish comedy film where four friends discover a fortune in lost bitcoins, sparking a chaotic adventure to protect their windfall and friendships. It’s a lighter, fictional take on Bitcoin’s allure.

Biggest Heist Ever (2024) - A documentary covering the Bitfinex hack, where a couple, dubbed the "Bitcoin Bonnie and Clyde," allegedly laundered nearly 120,000 bitcoins. It’s a deep dive into one of crypto’s most infamous crimes.

Crypto Boy (2023) - A Dutch drama about a young man drawn into the world of cryptocurrency after a fallout with his father, exploring themes of ambition and deception. It’s more character-driven than educational.

Notes:

Availability may vary by region, so check Netflix in your area.

Some older Bitcoin documentaries, like Banking on Bitcoin or The Rise and Rise of Bitcoin, are not currently on Netflix but may be available on other platforms like Amazon Prime or YouTube.

For a broader list, posts on X also mention Bitcoin: The End of Money as We Know It and The Blockchain and Us, but these are not confirmed on Netflix at this time. (Grok)

News

Memecoins Today:

Memecoins are seeing significant activity today, May 13, 2025, with several coins rallying and ongoing controversies shaping market sentiment. Here's a concise overview based on recent developments:

Market Performance:

Dogwifhat (WIF), Book of Meme (BOME), and FLOKI are extending double-digit rallies, driven by a risk-on sentiment in crypto markets following US-China tariff reductions. Technical indicators suggest potential for further gains.

Moo Deng, a Solana-based memecoin, surged 153% in the past 24 hours, fueled by institutional demand for SOL and retail interest after Bitcoin’s rally above $103,000.

FLOKI is highlighted on X as a top performer, with posts suggesting it could lead the memecoin rally alongside DOGE, SHIB, and PEPE.

Political and Controversial Developments:

Trump’s $TRUMP Memecoin: The coin remains in the spotlight due to a May 22 dinner for top holders at Trump’s Virginia golf club, sparking ethical concerns and political backlash. The coin surged over 50% after the announcement, reaching a $2.7 billion market value, though 764,000 investors have lost money compared to 58 wallets profiting significantly.

Melania’s $MELANIA Memecoin: Launched January 19, it saw sniper traders earn $99.6 million by buying minutes before its public announcement. The team recently sold $1.5 million in tokens, amid a weakening memecoin market.

Legislative Pushback: Senate Democrats blocked stablecoin legislation due to controversies surrounding Trump’s crypto ventures. Proposed bills, like the End Crypto Corruption Act, aim to ban presidents and officials from issuing digital assets to curb potential conflicts of interest.

Market Sentiment:
X posts reflect active interest in memecoins, with users seeking recommendations and shilling coins like FLOKI and letsBONK. However, some posts highlight the speculative nature, describing pump-and-dump cycles.

Discussions on memecoins hit a year-to-date high, shifting focus from Bitcoin and layer-1 protocols, though some argue the memecoin frenzy is cooling as stablecoins gain traction on Solana.

Broader Context:

Memecoins face criticism for lacking intrinsic value, with some viewing them as celebrity-driven schemes. However, advocates suggest AI agents could drive a “memecoin renaissance” by adding utility.

The $TRUMP token’s performance has been lackluster compared to its peak, with onchain activity spiking after the dinner announcement but still down 79% from its all-time high.

Critical Note: While memecoins are rallying, their volatility and speculative nature carry significant risks. The political ties to certain coins, especially $TRUMP, raise ethical and legal questions, potentially influencing market stability. Always verify information, as X posts can contain unverified claims, and memecoin investments are highly speculative. (Grok)

Bull Market: Def

"Bull market" describes a financial market where prices are rising or are expected to rise. It commonly refers to the stock market but can be applied to anything that is traded, such as bonds, real estate, currencies, and commodities.

Markets and Cryptos

May 10, 2025
Sydney, Australia

Markets:

ASX futures up 12 points/0.2% to 8261
AUD +0.1% at US64.09¢
Bitcoin +1.8% to $US103,152
Dow -0.3%
S&P -0.1%
Nasdaq -0.00%
Gold +0.6% to $US3326.57 an ounce
Oil +1.7% at $US63.92 a barrel
Iron ore +0.5% at $US97.00 a tonne

Cryptos Today: (Near Live)

Bitcoin. $102,887.02 USD. - 0.18%
Ethereum. $2,331.30. +6.50%
Tether $1 USD -0.10%
XRP. $2.35. +1.83. +2.4%
BNB. $638.149. +2.35%
Solana. $172.18. +6.56%
USD Coin. $1 USD -0.17%
Dogecoin: $0.2045 USD +5.52%
TRON. $0.2562 USD +3.06%
Cardano $0.7801 USD +2.20%
Wrapped Bitcoin $102,930.51 -0.28%

News Media, Markets, Business, Comms, Culture

May 12, 2025

Australian Dollar: $0.6414 USD (up $0.0011 USD)

Iron Ore June Spot Price (SGX): $97.00 USD (up $0.20) Oil (WTI): $61.02 USD (up $0.75)

Gold: $3,326.15 USD (up $19.89)

Copper (CME): $4.6540 USD (up $0.0535)

Bitcoin: $104,232.62 USD (up 0.94%)

Dow Jones: 41,249.38 (down 119.07 points)

News

News Headlines

U.S.-China Trade Deal Reached: The White House announced a trade agreement with China following two days of talks in Geneva, with Beijing describing it as “important first steps.” U.S. officials, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, hailed the deal as a “total reset” in relations, potentially easing global economic tensions.

India-Pakistan Ceasefire Strained: Despite a U.S.-mediated ceasefire agreement on May 10, explosions were reported in Kashmir, with both nations accusing each other of violations. The Indian Army reported killing over 100 terrorists in Operation Sindoor, while Pakistan claimed to have repelled Indian attacks.

Ukraine Proposes Ceasefire with Russia: President Volodymyr Zelenskyy called for a 30-day unconditional ceasefire starting May 12, expressing willingness to meet Russian President Vladimir Putin in Türkiye. The proposal follows Ukraine’s reported drone and missile attacks on Russian targets.

Pope Leo XIV Appeals for Peace: In his first Sunday message, Pope Leo XIV, formerly Cardinal Robert Prevost, urged an end to global conflicts, emphasizing the Catholic Church’s role as a “beacon of light” amid rising tensions.

Tata Steel Recognized for Sustainability: Tata Steel was named a 2025 Steel Sustainability Champion by the World Steel Association during a meeting in Sydney, Australia. The company also faces a 12% provisional safeguard duty on certain steel products in India to counter import surges. (Grok)

News

World News

India-Pakistan Ceasefire: A fragile ceasefire between India and Pakistan, negotiated overnight, has been welcomed by Pope Leo XIV. Both nations claim victory, with celebrations in Pakistan and cautious optimism in Kashmir. However, underlying tensions and nuclear risks suggest future conflicts remain possible. Military officials from both sides are discussing next steps.

US-China Trade Talks: US and Chinese officials, including Treasury Secretary Scott Bessent and Vice-Premier He Lifeng, held "very good" discussions in Geneva to address escalating trade tensions. Investors welcomed the talks, boosting US stock futures, though no major breakthrough is expected yet. President Trump described it as a "total reset" in trade relations.

Ukraine-Russia Developments: Ukrainian President Volodymyr Zelenskyy proposed a 30-day unconditional ceasefire starting May 12, expressing willingness to meet Russian President Vladimir Putin in Türkiye. This follows Trump’s urging for direct talks. Russia claims Ukraine violated past ceasefires, and negotiations remain uncertain.

Middle East Updates: Hamas announced it will release Israeli-American hostage Edan Alexander, but Israel clarified it is only committed to a safe corridor for US hostage release, not a full ceasefire with Hamas. Pope Leo XIV called for peace in Gaza and the release of all hostages.

Papal Message: In his first Sunday address, Pope Leo XIV, the first North American pope, appealed for an end to global conflicts, describing the world as facing a "Third World War being fought piecemeal." He urged peace in Ukraine, Gaza, and beyond.

Trump’s Gulf Visit: President Trump is set to visit Saudi Arabia, Qatar, and the UAE starting May 13, marking his first state visit of his second term. Qatar’s offer of a luxury Boeing 747-8 for Air Force One has raised concerns. (Grok)

News

US and China cut deal that Trump calls 'total reset'

(Roy Morgan Summary)

Treasury Secretary Scott Bessett has announced that the US and China have held "productive talks" on a deal aimed at de-escalating a damaging trade war between the two countries, and that full details on the agreement would be announced on Monday. US President Donald Trump had overnight used his Truth Social platform to give a positive update on the talks, stating the two sides had negotiated "a total reset" in what was a "friendly, but constructive, manner", while China Daily has reported that Chinese vice premier He Lifeng described the talks as "candid, in-depth and constructive." (Grok)

News

Australia

Media

Nine shareholders in line for $780m dividend from Domain sale

US real estate company CoStar has agreed to acquire property sales portal Domain after almost six weeks of due diligence, with CoStar to pay $4.43 a share for Domain, valuing it at $3 billion. Domain's 60.1 per cent owner Nine Entertainment has stated it expects to receive $1.4 billion from selling its stake in Domain, and that it expects to give around $777 million of the proceeds to its shareholders in the form of a fully franked dividend. The deal is expected to make Domain a stronger competitor to News Corp's REA Group. (Roy Morgan Summary)

News

Australia

Content/Streaming

Local content quotas still on the table despite US tariff threat

Released at the start of 2023, Labor's National Cultural Policy calls for the adoption of Australian content quotas for overseas streaming companies such as Netflix and Amazon Prime, but the government has not yet made any move to put the policy into practice. However, with Labor having been re-elected, it is understood that the policy is still under consideration, despite US President Donald Trump's plan to introduce a 100 per cent tariff on all films that are "produced in foreign lands". Arts Minister Tony Burke has previously suggested that the delay in implementing the policy was due to Australia's free trade agreement with the US. (RMS)

News

Australia

Resources/Energy

What is Gina Rinehart's plan for lithium miner Liontown?

There are ongoing questions whether Liontown Resources' Kathleen Valley mine is viable at current lithium prices. Although its latest quarterly report showed some indications of promise, its cash balance fell by almost 10 per cent during the three months to 31 March, while the spodumene concentrate sold by Liontown fetched $US815 a tonne during the period, well below the $US8,000 that some of Liontown's peers were securing in early 2023. Gina Rinehart's Hancock Prospecting bought 19.9 per cent of Liontown in 2023, although she has so far show no indication that she wants to acquire the rest of it, while she has the financial resources to assist through its current tough times. (Roy Morgan Summary)

News

Lynas CEO says company is eyeing rare earths buys in Malaysia, Brazil

May 7, 2025

Mining Dot Com

Lynas Rare Earths CEO Amanda Lacaze has told the Macquarie Australia Conference in Sydney that the company is looking at the purchase of rare earths deposits in Malaysia and Brazil. Lynas Rare Earths is the biggest rare earths producer outside of China, with rare earths used in industrial magnets and in some defence applications. Lacaze says that new supplies of rare earths are difficult to develop and can take many years, while she noted that Malaysia, where Lynas has processing operations, has a lot of the same geology that is present through much of Southeast Asia, such as Myanmar, which is a significant supplier to China's rare earths industry. (RMS)

News

BHP's Andes copper project just got bigger

It has been revealed that BHP's Filo del Sol copper project high in the Andes in Argentina may contain up to five times more of the metal than was previously thought. It acquired 50 per cent of the project and the nearby Josemaria project in 2024 for $U2.1 billion ($3.2 billion) as part of a deal that saw it jointly buy the Toronto-listed Filo Mining with the Fundin family. BHP believes there will be strong demand for copper over coming decades as the world continues to electrify, with its 'thirst' for copper having the potential to consume as much as $US15 billion in capital spending over the next decade. (RMS)

News

Australian Mining News

Sibanye-Stillwater’s Century Operation: Zinc production at the Century zinc retreatment operation in Queensland surged by 92% in the March 2025 quarter, reaching 25,000 tonnes. This follows weather resilience measures implemented in 2024, contributing $US10 million to group adjusted EBITDA. A feasibility study for the Mt Lyell copper mine in Tasmania is expected to be completed by late 2025.

OreSand Inc. Recognition: A University of Queensland startup, OreSand Inc., was named a top global innovator by the World Economic Forum. The company, backed by Australian government initiatives, helps mining firms reduce waste and produce sand byproducts, addressing surging global sand demand.

FIFO Mining Camp Study: Monash University is conducting a first-of-its-kind study on how design choices in fly-in, fly-out (FIFO) mining camps impact worker well-being, highlighting the importance of small design tweaks for mental health and productivity.

Labor’s Re-election Impact: Following Prime Minister Albanese’s re-election, the government’s “Future Made in Australia” plan continues, focusing on critical minerals with a $1.2 billion strategic reserve and tax incentives for processing. Industry reactions are mixed, with some supporting the policy stability and others questioning the reserve’s commercial viability.

Kalgoorlie Gold Mining: Kalgoorlie Gold Mining reported success with its Lighthorse gold discovery and aims for further exploration to expand its resource base.

Queensland Mining Coroner: Wayne Pennell was appointed Queensland’s first mining and resources coroner to address a backlog of inquests, with seven mining deaths reported since 2022.

Tivan’s Fluorite Project: Tivan formed a joint venture with Sumitomo Corporation for the Speewah fluorite project in Western Australia, supported by a $5.3 million investment and government funding, aiming to align with national strategic priorities.

Hillgrove’s Kanmantoo Mine: Hillgrove Resources produced 811 tonnes of copper in April at its Kanmantoo mine in South Australia, with annual guidance set at 12,000–14,000 tonnes for 2025.

Catalyst’s Old Highway Acquisition: Catalyst Metals acquired the Old Highway gold project from Sandfire Resources for $32.5 million, eyeing exploration upside in Western Australia’s Plutonic Belt.

Digital Transformation: The mining sector is embracing 5G networks and AI-powered analytics to enhance safety, productivity, and connectivity, with companies like Moxa and Vocus leading innovations. (Grok)

News

Australian Casino News

Star Entertainment's Financial Struggles and Bailout: Star Entertainment, a major Australian casino operator, reported a significant $302 million loss for the first half of the financial year, driven by remediation costs, casino operating reforms, and market share loss. The company was on the brink of collapse but secured a $300 million lifeline from U.S.-based Bally’s Corporation, which will take a 57% equity stake. Bally’s plans a major overhaul, with Chairman Soo Kim stating the casinos need new management and a transformation to become profitable. Star also sold its Sydney events centre for $60 million and divested parts of its Brisbane casino to raise cash.

News

Pokies and Billionaires: Poker machines remain a focal point. Sam Arnaout, a Sydney billionaire, has amassed a $3.1 billion fortune through pubs and pokies, notably in Alice Springs, raising concerns about their social impact in poorer communities. Len Ainsworth, a pokies pioneer, has shifted his wealth toward philanthropy, though he emphasized personal responsibility for gamblers. Pokies account for 52–57% of gambling harm in Australia, with $15.8 billion lost in 2022–23.

Online Gambling Trends: New online casinos like Spinsy are gaining traction, offering large bonuses (e.g., AU$4,000) and cryptocurrency payments. However, concerns about addictive tactics, similar to those used by apps like Temu, have emerged, with “dark patterns” manipulating user behavior.

Legal Disputes: A six-year legal battle between Hong Kong businessman Linong Ma and SkyCity Adelaide concluded, resolving disputes over millions in casino winnings. (Grok)

News Media

Australia

Media Ownership and Acquisitions: Seven West Media has acquired regional television assets and licenses from Southern Cross Media Group for $3.75 million, covering areas like Tasmania, Darwin, and Broken Hill. This move strengthens Seven West’s presence in regional broadcasting.

Journalistic Transitions: Laura Tingle, previously the political editor for ABC’s 7.30, has moved to a global affairs role, covering world events across ABC platforms, including the Asia Pacific newsroom and Foreign Correspondent. This follows her 35-year career with outlets like the Australian Financial Review and The Age. (Grok)

News

Gold News

Price Movements: Gold prices have seen fluctuations, with a notable 1.8% drop reported on May 12, 2025, due to easing US-China trade tensions reducing safe-haven demand. Earlier in the week, prices hit a two-week high of $3,413.29 per ounce on May 6, driven by renewed tariff fears and post-holiday buying in China. However, by May 8, spot gold fell 1.8% to $3,368.42 per ounce, influenced by a stronger dollar and Federal Reserve Chair Jerome Powell’s cautious stance on interest rates.

Regional Updates: In India, gold prices fell to Rs 90,150 per 10 grams for 22-carat in Mumbai on May 9, despite geopolitical tensions. In Bangladesh, prices dropped slightly by May 11, with 21-carat gold per bhori at Tk 1,63,004. In the UAE, Dubai’s gold rate hit a record high but slipped to AED 405.25 for 24K by May 8. Pakistan saw gold prices surge to Rs 356,100 per tola on May 7, reflecting global bullish trends.

Market Sentiment: Posts on X indicate heightened public interest, with US jewelry merchants experiencing a frenzy as people sell old jewelry or invest in gold bars for stability. A Gallup poll cited on X shows 23% of US adults view gold as a top long-term investment, trailing real estate at 37%.

Other Developments: China’s Zijin Mining is reportedly planning a Hong Kong IPO for its overseas gold business, signaling strategic expansion. Meanwhile, a tragic incident in Peru highlighted risks in the sector, with 13 miners killed at a gold mine amid rising illegal mining activity.

Gold’s trajectory remains tied to geopolitical events, trade policies, and Federal Reserve decisions, with investors closely watching for signals on interest rates and global economic stability. (Grok)

News

Australian Sports Entertainment/Pro Wrestling

WWE

Aussie's In WWE Looking For Additional Success: Grayson Waller, Bronson Reed (healing up from cage leap injury), Rhea Ripley (seeking gold again and appearing on WWE RAW On Netflix tonight)!

RIP Sabu

Australian Pro Wrestling Promoters Remember Legendary Grappler Sabu; TNT (AWF) and others have found memories of Hardcore Innovator who helped elevate the ECW style into world's leading promotion WWE. Even the late Terry Funk was influenced by some of Sabu's daredevil moves. RVD and a host of greats enjoyed classics with Sabu in the 90s. Global tributes buzz on social media including X (Media Man Group)

Comms/Search Engines

Website portals such as Media Man, MSN, Yahoo! Go Up In Value As Consumers Lose More Trust In AI And BOT Scams. Google trending fine line with A.I. (Media Man Group)

Crypto: (Near Live)
May 12, Syd

BTC $104,266.90 USD +0.68%
ETH $2,508.70 USD +0.04%
TET $1.00 USD -0.34%
XRP $2.37 USD
BNB $651.59 USD -0.75%
SOL $172.26 USD -0.54%
USD Coin $0.9978 USD -0.20%
Dogecoin $0.2305 USD -2.85%
Cardano $0.8048 USD -1.63%
TRON $0.2641 USD +0.85%

Markets and Cryptos

May 10, 2025
Sydney, Australia

Markets:

Cryptos Today: (Near Live)

News

Crypto News

Bitcoin Surges Past $100,000: Bitcoin reclaimed the $100,000 mark for the first time since February, driven by optimism around a U.S.-UK trade deal announced by President Trump and UK Prime Minister Keir Starmer. The deal, which includes a 10% U.S. tariff on UK goods and reduced UK tariffs, has fueled a broader market rally. Bitcoin was trading at $102,700 late Thursday, with analysts noting potential support at $100,000 and resistance near $107,000.

Other Cryptocurrencies Rally: Ether surged over 14% to $2,050.46, its highest since late March, while Solana and Dogecoin gained 10% and 12%, respectively. The total crypto market cap rose 2.5% to $3.09 trillion.

Stablecoin Bill Blocked: The GENIUS Act of 2025, aimed at regulating stablecoins, was stalled in the U.S. Senate on May 8 by Democratic lawmakers, citing concerns over President Trump’s ties to the crypto industry, including his family’s World Liberty Financial stablecoin venture.

German Seizure of Crypto Assets: German authorities seized €34 million ($38 million) in cryptocurrencies, including Bitcoin, Ether, Litecoin, and Dash, from the eXch platform, linked to laundering funds from Bybit’s $1.4 billion hack in February 2025.

SEC and Ripple Settlement: The SEC and Ripple filed a joint letter on May 8 to dissolve an August 2024 injunction against Ripple and return $75 million of $125 million in penalties held in escrow.

Trump’s Crypto Ventures: World Liberty Financial, a Trump-affiliated firm, unveiled a stablecoin and secured a $2 billion deposit deal with an Emirati fund. However, Democratic senators, including Elizabeth Warren, are pushing back against crypto legislation, alleging corruption tied to Trump’s crypto ventures.

Bitcoin Investment Moves: Strategy (formerly MicroStrategy) announced a $180 million Bitcoin purchase, adding 1,895 BTC, while a new whale withdrew $50 million in Bitcoin from Binance.

Ethereum Upgrades: Ethereum’s Pectra protocol upgrade went live on May 7, boosting investor interest. Analysts predict ETH could hit $5,925 in 2025, with long-term forecasts up to $15,575 by 2030.

Market Sentiment: The crypto market is in a transitional phase, with Bitcoin down 14% from its January 2025 high of $109,079. Analysts like Standard Chartered’s Geoff Kendrick forecast Bitcoin reaching $120,000 by Q2 2025 and $200,000 by year-end. (Grok)

News

A sharp crypto market awakening

Market Picture

TThe crypto market has added about 5.8% to its capitalisation over the past 24 hours, bringing it to $3.24 trillion. This is roughly the area where the market has been consolidating for most of February. A pause halfway to the area of historical highs above 3.50 looks like a logical respite. Back in November, the market surged without major pauses—but this time, the momentum appears more measured, with less of the earlier excitement.

The crypto market sentiment index reached 73, which is only a couple of steps away from extreme greed and is the highest since late January. Often, this is a working sentiment for continued growth.

Bitcoin has been reaching levels above 104000 this morning, adding an impressive 5% in the last 24 hours and 33% in 30 days. At current highs, all eyes are on how soon it will reach the all-time highs, which are less than 6% away, and whether or not it can overcome them outright. While similar rallies have broken records in the past, we still expect some consolidation near the highs before any decisive move higher.

The rocket of the last few days has certainly been Ethereum, which soared 23% in the last 24 hours, strengthening twice as fast as Bitcoin over the month. The technique worked perfectly. ETHUSD stomped around the 50-day moving average for a long time and rose in value by a third in less than two days to $2380. The rise to 2700 looks like an ‘easy part’ of the growth. Further upside will already have to be fought for.

News Background

On May 8, bitcoin's realised capitalisation reached a record $890.74 billion, which could indicate that BTC is poised for significant growth, CryptoQuant noted. The metric is the aggregate value of all coins in circulation based on the quotes at which they were last transferred.

Ethereum shows the best weekly performance in the top 20 cryptocurrencies. Nansen notes the accumulation of ‘smart money’ by institutions like Wintermute.

U.S. banks can perform crypto transactions on customer requests, provide custodial services through third parties, and generate tax returns on digital assets. This is stated in a clarification from the US Office of the Comptroller of the Currency (OCC).

Payments company Stripe has launched a product called Stablecoin Financial Accounts. It will allow businesses in 101 countries to hold balances in dollar-denominated Stablecoins and receive and send fiat and cryptocurrencies. (FxPro)

Best Quotes Of The Day

An investment in knowledge pays the best interest." — Benjamin Franklin

"Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows." — Jim Rogers

"Be fearful when others are greedy and greedy only when others are fearful." — Warren Buffett

Crypto and Markets Today

Cryptos Today: (Live/Near Live)

Bitcoin. $98,598.45 +2.10%
Ethereum. $1,838.50. +0.65%
Tether $1.00 USD -0.03%
XRP. $2.15. -0.04%
BNB. $606.22. -0.441%
Solana. $149.72. +2%
USD Coin. $.9997USD -0.03%
Dogecoin: $0.1766 USD +2.74%
Cardano $0.6901 USD -1.1896%
TRON. $0.2477 USD -0.03%

News

Crypto market tests range ceiling

Market Picture

Market capitalisation rose 1.7% in the last 24 hours to $2.98 trillion, approaching the upper end of the consolidation range where the market has been hovering for almost two weeks. The previous consolidation in April took about the same amount of time before the last move up. Rest after the rise may favour further growth.

Greed characterised market sentiment on Tuesday, with the corresponding index rising to 67, repeating the highs of May 2.

Bitcoin rose significantly on reports of events in India and Pakistan, briefly surpassing the $97.5K level. This growth momentum has not yet found support in other assets - gold is getting cheaper, and the equity index is mostly down. Perhaps the assault on local highs will continue soon. A consolidation above $98K may trigger a growth scenario up to $112K.

News Background

Riot Platforms, the fourth-largest bitcoin mining company by bitcoin reserves, mined 463 BTC in April and sold 475 BTC for $38.8 million. The firm sold coins from the reserve for the first time in about a year.

BlackRock's IBIT is the defining contribution to the ETF's positive performance. According to Lookonchain, BlackRock additionally purchased 5,613 BTC (over $529 million). The company now holds 620,252 BTC (worth over $58bn).

Bitwise investment director Matt Hougan said the crypto market could face difficulties this summer if the US Congress does not continue to work on profile bills. He noted a bill to regulate stablecoins, the passage of which has been delayed. (FxPro)

News

Crypto News

Price Movements: Bitcoin rose 3.2% to around $97,714, driven by optimism over potential de-escalation in US-China trade tensions, boosting demand for risk assets like cryptocurrencies. Ether also climbed 4.2%. However, Bitcoin recently pulled back from a January 2025 high of $107,000 amid tariff-related volatility.

Strategic Bitcoin Reserves: New Hampshire became the first US state to establish a Bitcoin and Digital Asset Reserve Fund, allowing up to 5% of state funds to be invested in Bitcoin or assets with a $500B+ market cap. Meanwhile, efforts in states like Florida and Arizona to create similar reserves have stalled, with bills withdrawn or vetoed. President Trump signed an executive order to establish a US strategic Bitcoin reserve, though skepticism persists, with investor Kevin O’Leary calling it unlikely.

Corporate Adoption: Strive Enterprises, co-founded by Vivek Ramaswamy, is merging with Asset Entities Inc. to form a Bitcoin treasury company, following Michael Saylor’s strategy. Saylor’s company, Strategy, recently acquired 1,895 BTC for $180.3 million, holding a total of 555,450 BTC.

Price Predictions: Binance founder Changpeng Zhao predicted Bitcoin could hit $500,000 or even $1 million in this bull cycle, potentially reaching a $19.8 trillion market cap. Other forecasts include $167,598 by year-end from Coinpedia and $250,000 by some Wall Street experts, though former Maryland Governor Martin O’Malley warned Bitcoin might be a Ponzi scheme.

Political Tensions: US Democrats, led by Maxine Waters, are scrutinizing Trump’s crypto ventures, blocking a digital asset bill hearing and launching inquiries into potential corruption tied to his cryptocurrency projects, including the $TRUMP meme coin.

Market Sentiment: Bitcoin’s resilience is supported by institutional interest and untapped issuance capacity among Bitcoin-holding companies, potentially driving significant price gains. However, macroeconomic factors and Federal Reserve rate decisions are creating volatility, with traders eyeing Fed Chair Jerome Powell’s statements for clues on future rate cuts.

Other Developments: The IMF now classifies Bitcoin alongside traditional reserves like gold, with governments holding an estimated 471,000 BTC worth $16.3 billion. Apple’s relaxation of App Store restrictions on crypto could spur adoption, while Trump’s pro-crypto policies, including promoting mining, are raising concerns about noise pollution from mining facilities. (Grok)

News

Markets:

Australian Dollar: $0.6430 USD (down $0.0060 USD)
Iron Ore June Spot Price (SGX): $98.25 USD (up $0.55 USD)
Oil (WTI): $57.95 USD (down $1.05 USD)
Gold: $3,364.45 USD (down $67.73 USD)
Copper (CME): $4.6200 USD (down $0.1350 USD)
Bitcoin: $97,096.63 USD (up 2.72% in last 24 hours)
Dow Jones: 41,113.97 (up 284.97 points)

News

Gold

Gold prices fell over 1% on Wednesday, May 7, 2025, pressured by a stronger U.S. dollar and easing U.S.-China trade tensions. Federal Reserve Chair Jerome Powell’s cautious remarks on the U.S. economy also disappointed traders, contributing to the decline. Spot gold dropped to around $3,350 per ounce after hitting a two-week high of $3,396.43 earlier in the week, driven by post-holiday buying in China and tariff concerns. Analysts suggest gold may stabilize near $3,200, with support levels at $3,351 and $3,304. Investors are focused on the Federal Reserve’s recent policy meeting outcomes, with no immediate rate cuts expected, potentially capping gold’s upside. Geopolitical tensions and safe-haven demand could support prices, but trade optimism may limit gains. Forecasts from JPMorgan and TD predict gold could reach $4,000 by mid-2026, averaging $3,675 by year-end 2025. (Grok)

Best Quotes Of The Day

Media

"The TV business is uglier than most things. It is normally perceived as some kind of cruel and shallow money trench through the heart of the journalism industry, a long plastic hallway where thieves and pimps run free and good men die like dogs, for no good reason." Hunter S. Thompson

Markets and Cryptos

May 7, 2025
Sydney, Australia

Markets

ASX futures down 23 points/0.3% to 8146

AUD +0.3% to US64.87¢

Bitcoin flat at $US94,534

Wall St:
Dow -1.0%
S&P -0.7%
Nasdaq -0.9%
VIX +1.18 to 24.82
Gold +2.4% to $US3414.77 an ounce
Oil +3.4% to $US62.26 a barrel
Iron ore +1.2% to $US97.70 a tonne
10-year yield: US 4.31% Australia 4.33%

News

Bitcoin. $95,096. 2.41%
Ethereum. $1,789.65. 1.60%
Tether. $1.99. +0.16%
XRP. $2.14. -0.46%
BNB. $599.88. 0.05%
Solana. $144.79. 1.351%

News

Crypto News Today

Bitcoin Price Outlook: Binance founder Changpeng "CZ" Zhao predicts Bitcoin could reach $500,000 to $1 million this market cycle, citing institutional adoption, government accumulation, and pro-crypto U.S. policies. Bitcoin is currently trading around $94,376, with some analysts forecasting a 2025 high of ~$168,000.

Florida Bitcoin Reserve Bills Withdrawn: Florida’s House Bill 487 and Senate Bill 550, which aimed to establish a state Bitcoin reserve, were withdrawn from consideration on May 3, marking a setback for state-level crypto initiatives.

Trump Family Crypto Ventures: The Trump-affiliated World Liberty Financial (WLFI) is gaining traction. Its stablecoin, USD1, is being used for a $2 billion investment by Abu Dhabi’s MGX into Binance. The Trump family’s crypto activities, including a $TRUMP meme coin, have sparked Senate backlash, with Democrats raising concerns over conflicts of interest and pushing for stricter stablecoin regulations.

BNB ETF Filing: VanEck has filed for the first U.S. BNB exchange-traded fund, which could stake BNB tokens, signaling growing institutional interest in Binance’s native token.

Crypto Market Trends: Bitcoin remains steady at ~$93,831, while Ethereum (ETH) and XRP are seeing slight declines. Analysts suggest ETH may outperform XRP in May due to stronger technical setups. The broader crypto market cap dipped slightly, with mixed altcoin performance.

Regulatory and Institutional Moves: Morgan Stanley plans to offer crypto trading on its E*Trade platform by 2026. U.S. banks no longer need Federal Reserve notification for crypto activities, a significant regulatory win.

Crypto-Related Crime: French police rescued the father of a crypto entrepreneur kidnapped for ransom, highlighting a rise in crypto-related abductions in France. (Grok)

News

Blockchain News Today

Ethereum Pectra Upgrade: Ethereum’s mainnet is undergoing the Pectra upgrade today, marking its most significant code change since the Merge in 2022. This upgrade includes 11 Ethereum Improvement Proposals (EIPs) aimed at enhancing user-friendliness, staking experiences, wallet features, and overall blockchain efficiency. Originally planned for 2024, the upgrade was delayed due to its complexity.

Crypto Market Trends: As of May 6, Bitcoin remains stable at around $93,831, while Ethereum and XRP have seen slight declines. Analysts are watching for potential bigger moves in 2025, with Bitcoin predicted to possibly hit $167,598.22 this year and surpass $900,000 by 2030, driven by increased adoption and whale activity.

Maldives Blockchain Hub: A $9 billion blockchain hub project in the Maldives is gaining attention as a transformative initiative for the region’s crypto ecosystem, highlighting blockchain’s growing global infrastructure.

Tether’s AI Platform: Tether’s CEO, Paolo Ardoino, has unveiled a new AI platform with crypto payment support, building on their December 2024 announcement. This move signals further integration of blockchain with AI technologies.

Regulatory Shifts: Recent U.S. policy changes allow banks to offer Bitcoin and crypto services without Federal Reserve notification, a significant win for crypto adoption. This has sparked bullish sentiment, particularly for Ethereum, which is seen as a hub for stablecoin and onchain services.

Worldcoin’s U.S. Expansion: Sam Altman’s Worldcoin is deploying biometric “orbs” in U.S. cities to streamline crypto wallet security, aiming to make transactions more user-friendly and secure. (Grok)

News

The US ran a record trade deficit in March. It will be worse in April

In March, the US trade deficit with other countries reached unprecedented levels, driven by a rush to purchase goods ahead of anticipated tariffs. This surge comes amidst the backdrop of the US President’s striking ‘America’s Liberation Day’ tariff announcement, with retaliatory tariffs following in April.

The trade deficit is an important fundamental pressure factor on the dollar, and it promises to become even stronger in April’s data. As a result, we are seeing temporary anomalies in the import numbers, which have been on a tear since December, adding over 27% to March last year.

Exports, on the other hand, are still within the trend of the last three years, adding 6.7% YoY to $278.5bn. Still, it doesn’t quite match the record-breaking $140.5 billion deficit and $419 billion in imports.

These alarming numbers are likely just a preview, with a downturn expected in the coming months—though it will probably be less dramatic. This will give the illusion that tariffs are working. However, it’s more accurate to take a long-term view, factoring in both the unusual spike in imports and the potential drop that may follow. It would not be surprising if the net effect is very controversial. (FxPro)

News

Gold News Today

Gold prices rose to a two-week high on Tuesday, May 6, 2025, driven by post-holiday buying from China and concerns over potential U.S. tariffs on pharmaceutical imports. Spot gold gained over 2%, reaching around $3,317 per ounce, supported by a weaker U.S. dollar and safe-haven demand. Investors are focused on the Federal Reserve’s policy meeting outcome on May 7, as higher interest rates typically reduce the appeal of non-yielding gold. In India, 24-carat gold prices climbed to ?95,740 per 10 grams, while silver saw a slight decline to ?96,900 per kilogram. Geopolitical tensions, including Middle East conflicts, and uncertainty over U.S.-China trade talks continue to bolster gold’s appeal.

News: Business, Markets, Comms, World News, Headlines, Australia

May 5, 2025

Markets

Australian Dollar: $0.6444 USD (up $0.0061 USD)
Iron Ore June Spot Price (SGX): $96.00 USD (up $0.80 USD)
Oil Price (WTI): $58.29 USD (down $0.70 USD)
Gold: $3,241.82 USD (up $4.35 USD)
Copper (CME): $4.6730 USD (up $0.0415 USD)
Bitcoin: $95,720.18 USD (down 0.61%)
Dow Jones: 41,317.43 (up 564.47 points)

Markets: Update

ASX futures up 0.4%/32 points, to 8280 points

AUD +0.3% $US64.55¢
Bitcoin -0.6% to $US95,679

Wall Street:

Dow +1.4%
S&P +1.5%
Nasdaq +1.5%
VIX -1.9 to 22.68 points
Gold steady at $US3240.49 an ounce
Oil -1.4% to $US61.29 a barrel
Iron ore +1% to $US96 a tonne
10-yr yield: US 4.31% Australia 4.21%

News

'Return to office' push to go on

The Minerals Council of Australia's chairman Andrew Michelmore says the Coalition's bungled policy on public servants working from home is likely to have been one of many issues that contributed to its massive election loss. Michelmore and property developer Tim Gurner both contend that working from home is more appropriate in specific industries, rather than across the economy; the latter believes that companies that encourage staff to engage with each other in the office rather than remotely are the most likely to succeed over the next decade. (Roy Morgan Summary)

News

Media

Foxtel boss welcomes a bold new era

Foxtel CEO Patrick Delany says companies that "stand still" are unlikely to survive in Australia's current media landscape. He adds that Foxtel will have greater capacity to adapt and evolve following its acquisition by UK-based DAZN, which will in turn result in a better product for its pay-TV and streaming customers. Delany has rejected suggestions that the quality of Foxtel's coverage of Australian sports will be adversely affected by a move to cut about 100 jobs. Foxtel was previously majority-owned by News Corp, which will emerge from the deal with a six per cent stake in DAZN. (RMS)

News

Main parties focused ad spend on TV

Analyis by Australian video measurement firm Adgile shows that the nation's political parties spent more than $54m on free-to-air and broadcast video-on-demand advertising during the election campaign. Free TV Australia CEO Bridget Fair says this demonstrates that TV is still a trusted and highly effective platform for connecting with voters. Meanwhile, a total of $17m was spent on YouTube advertising across all parties. (RMS)

News

'Force big tech to pay up': Media firms

News Corp Australia's executive chairman Michael Miller has urged the re-elected federal government to overhaul the news media bargaining code. He says it is more than a year since the nation's political leaders resolved that technology platforms must renew their revenue-sharing deals with news publishers, and he contends that Labor must set a timetable for the tech giants to negotiate new deals. Nine Entertainment CEO Matt Stanton and Seven West Media CEO Jeff Howard have expressed similar views. (Roy Morgan Summary)

News

Rio Tinto weighs up rare earths market

May 2, 2025

Rio Tinto CEO Jakob Stausholm said last Thursday the mining company's board had discussed rare earths during the week, with Stausholm speaking after its AGM in Perth. He said the board would take a "serious Dlook" at the potential role that rare earths could play in Rio Tinto's portfolio, while he commented that critical minerals are often present in Rio's existing operations as a by-product. Rio Tinto chairman Dominic Barton says that expanding into critical minerals could help strengthen Rio's social licence to operate, while he noted that big mining companies like Rio Tinto are yet to establish much of a presence in the critical minerals sector. (Mining Dot Com)

News

Headlines Today

International News:

Russian President Vladimir Putin expresses hope that nuclear weapons won't be needed in Ukraine, ahead of a unilateral three-day ceasefire from May 8-10 to mark the 80th anniversary of WWII victory. Ukrainian President Volodymyr Zelenskyy doubts Russia’s commitment to the truce.

India-Pakistan tensions escalate after a terror attack in Pahalgam; India bans imports from Pakistan and suspends postal and maritime links.

An Air India flight from Delhi to Tel Aviv was diverted to Abu Dhabi due to a missile attack near Tel Aviv’s airport, with flights suspended until May 6.

Chinese President Xi Jinping to visit Russia from May 7-10 for WWII victory celebrations.

U.S. News:

Texas Governor signs the largest U.S. school voucher law, marking a conservative shift in education policy.

President Donald Trump proposes a $163 billion cut to the U.S. budget, targeting domestic spending.

Trump sparks controversy by posting an AI-generated image of himself as a pope, drawing online backlash.

Trump announces 100% tariffs on foreign films made outside the U.S., impacting international cinema.

Business & Economy:

Billionaire Warren Buffett announces he will step down as CEO of Berkshire Hathaway by the end of 2025, naming Greg Abel as successor.

State Bank of India (SBI) reduces lending rates, with Repo Linked Lending Rate down to 8.25% and External Benchmark Based Lending Rate to 8.65%, effective April 15, 2025.

Entertainment & Culture:

The Met Gala 2025 in NYC highlights Black dandyism, drawing global attention.

Columbia University to announce the 2025 Pulitzer Prize winners in journalism, books, drama, and music.

Fans celebrate Tatsuya Fukazawa’s 33rd birthday, member of Japanese idol group Snow Man, trending on X.

Sports:

Norway’s Casper Ruud wins the Madrid Open final against Jack Draper in a 7-5, 3-6, 6-4 match.

China’s Liu Shengshu and Tan Ning win the women’s doubles badminton final at the BWF Sudirman Cup in Xiamen, China.

Regional News:

Myanmar’s Shwedagon Pagoda attracts over 2.5 million visitors in the first four months of 2025.

Australia’s Labor Party projected to win a huge majority in the 2025 federal election, with around 90 seats.

Other Notable Events:

Cinco de Mayo celebrations highlight the Mexican army’s 1862 victory over French forces at the Battle of Puebla, distinct from Mexican Independence Day.

The upcoming Papal Conclave to elect a new pope begins May 7 in Rome, with global focus on the process.

These headlines reflect a mix of global, political, economic, and cultural developments. (Grok)

Media Man Int

News

Meme Man Brands Of The Day: Dogecoin, Xbox and The Perth Mint

Markets and Cryptos

May 2, 2025

Sydney, Australia

Markets:

ASX futures down 9 points/0.1% to 8153
AUD -0.3% at US63.86¢
Bitcoin +2.6% to $US96,560
Dow +0.7% S&P +1.2% Nasdaq +2.1%
Gold -1.9% to $US3227.23 an ounce
Oil +1.5% at $US61.95 a barrel
Iron ore -1.2% at $US95.20 a ton

Crypto Today:

Bitcoin. $96,857.23. 2.30%
Ethereum. $1,848.94. 2.43%
XRP. $2.2249. 0.71%
BNB. $599.84 USD +0.01%
Solana. $150.61 USD +2.64%
USD Coin. $1.00 USD -0.01%
Dogecoin. $0.1816 USD +4.87%

Crypto News

Ripple’s Regulatory Milestone: Ripple became the first blockchain-powered payments provider licensed by Dubai’s DFSA, enabling regulated cross-border crypto payments in the UAE, a key global trade hub.

XRP Market Dynamics: Despite a 30% price drop, XRP analysts highlight strong fundamentals and institutional integration, suggesting the dip may be a strategic shakeout before a potential rally to $3.

SoFi’s Crypto Push: Fintech SoFi plans to reintroduce crypto investing by year-end, leveraging new U.S. regulatory guidance. They aim to integrate blockchain across lending, savings, and payments within 24 months.

UK and US Regulatory Alignment: The UK announced draft rules to regulate crypto exchanges and dealers, aiming to align with the U.S. under Trump’s pro-crypto policies, despite EU concerns.

Stablecoin Developments: Visa and Bridge partnered to launch stablecoin-linked cards in Latin America, while Abu Dhabi’s ADQ, IHC, and First Abu Dhabi Bank plan a dirham-backed stablecoin.

Worldcoin’s U.S. Entry: Sam Altman’s Worldcoin (now World) will debut in U.S. cities like Atlanta and San Francisco, offering its WLD token for identity verification via Orb scans.

Security Concerns: North Korea’s Lazarus Group is targeting crypto developers with malware through fake U.S. companies, escalating cyber threats.

Markets and Cryptos

May 2, 2025

Sydney, Australia

Markets:

Crypto Today:

Bitcoin. $96,857.23. 2.30%
Ethereum. $1,848.94. 2.43%
XRP. $2.2249. 0.71%
BNB. $599.84 USD +0.01%
Solana. $150.61 USD +2.64%
USD Coin. $1.00 USD -0.01%
Dogecoin. $0.1816 USD +4.87%

Crypto News

XRP Market Dynamics: Despite a 30% price drop, XRP analysts highlight strong fundamentals and institutional integration, suggesting the dip may be a strategic shakeout before a potential rally to $3.

UK and US Regulatory Alignment: The UK announced draft rules to regulate crypto exchanges and dealers, aiming to align with the U.S. under Trump’s pro-crypto policies, despite EU concerns.

Stablecoin Developments: Visa and Bridge partnered to launch stablecoin-linked cards in Latin America, while Abu Dhabi’s ADQ, IHC, and First Abu Dhabi Bank plan a dirham-backed stablecoin.

Worldcoin’s U.S. Entry: Sam Altman’s Worldcoin (now World) will debut in U.S. cities like Atlanta and San Francisco, offering its WLD token for identity verification via Orb scans.

Security Concerns: North Korea’s Lazarus Group is targeting crypto developers with malware through fake U.S. companies, escalating cyber threats.

Markets and Cryptos

April 28. 2025

Sydney, Australia

Markets:

ASX futures up 2 points/0.02% to 8078
AUD -0.1% at US63.91¢
BTC +0.1% to $US94,422
Dow +0.1% S&P +0.7% NAS +1.3%
Gold -0.9% to $US3319.72 an ounce
Oil +0.5% at $US66.87 a barrel
Iron ore -0.9% at $US98.60 a ton

Cryptos Today:

Bitcoin $94,380.95 USD -0.08%
Ethereum $1,803.59 USD -0.80%
Tether $1.00 USD -0.14%
XRP $2.28 USD +3.50%
BNB $606.29 USD -0.46%
Solana $149.14 USD +0.08%
USD Coin $0.9995 USD -0.12%
Dogecoin $0.182 USD +0.42%
Cardano $0.7146 USD +0.94%
TRON $0.2474 USD -2.16%

Markets and Cryptos

April 24, 2025

Markets:

ASX futures down 8 points/0.1% to 7925
AUD -0.2% at US63.57¢
BTC +2.1% to $US93,467
Dow +0.9% S&P +1.5% NAS +2.3%
Gold -2.7% to $US3291.17 an ounce
Brent oil -2.1% at $US66.02 a barrel
Iron ore +1.7% at $US100.30 a ton

Cryptos Today:

Bitcoin $93,462.51 USD +0.36%
Ethereum $1,793.04 USD +2.35%
Tether $1.00 USD +0.18%
XRP $2.22 USD -0.49%
BNB $606.23 USD -0.68%
Solana $150.92 USD +2.35%
USD Coin $0.999 USD -0.01%
Dogecoin $0.1784 USD +0.43%
Cardano $0.6953 USD +3.18%
TRON $0.2469 USD +0.02%

Markets and Cryptos

Markets:

April 23, 2025

ASX futures up 103 points/1.3% to 7939
AUD -0.7% at US63.68¢
BTC +4.5% to $US91,358
Dow +2.7%
S&P +2.1%
NAS +2.5%
Gold -1.5% to $US3371.27 an ounce
Oil +1.5% at $US67.22 a barrel
Iron ore -0.7% at $US98.65 a ton

Cryptos Today:

Bitcoin $91,075.31 USD +4.29%
ETH $1,695.23 USD +7.53%
Tether $1.00 USD -0.02%
XRP $2.16 USD +3.57%
BNB $607.70 USD +1.95%
Solana $144.34 USD +5.47%
USD Coin $0.9994 USD -0.08%
Dogecoin $0.1728 USD +9.13%

Markets

April 15, 2025

ASX futures up 31 points/0.4% to 7805

AUD +0.7% to US63.32¢

Bitcoin +0.3% to $US84,895

Wall Street:

Dow+1%
S&P +0.9%
Nasdaq +0.9%
VIX -5.94 to 31.62
Gold -0.9% to $US3209.82 an ounce
Oil -0.3% to $US64.58 a barrel
Iron ore +0.8% to $US97.90 a ton
10-year yield: US 4.36% Australia 4.40%

Cryptos Today:

Pi Network. $0.7407. -1.07%
XRP. $2.14. -1.38%
Bitcoin. $84,578.00. -0.22%
Dogecoin. $0.1605. -3.55%
Shiba. $0.000012. -1.06%
Pi Network [IOU... pi. $0.7411. -1.01%
MEMES. $0.000100. +0.06%
Solana. $129.78. -1.17%

Cryptocurrency, Fintech, Markets, Comms, Biz, Politics

April 7, 2025

Markets

ASX futures down 331 points/4.3% to 7388
AUD -0.3% at US60.21¢
Bitcoin -4.3% to $US79,283
Dow -5.5%
S&P -6.0%
Nasdaq -5.8%
Gold -2.5% to $US3038.24 an ounce
Brent oil -6.5% at $US65.58 a barrel
Iron ore flat at $US98.00 a tonne

News

April 7, 2025

Crypto Today:

BTC. $78,820.93. 4.67%
ETH. $1,577.20. 10.02.
USDT. $0.9998. 0.03%
XRP. $1.9566. 7.10%
BNB. $552.66. 6.00%
USDC. $1.0002. 0.03%
SOL. $106.55. 9.74%
DOGE. $0.1499. 9.96%

News

Countries Respond to U.S. Tariffs with Negotiation Offers

Following President Trump's announcement of new tariff policies, Vietnam and Taiwan have both offered to eliminate all tariffs on U.S. goods. Additionally, over 50 countries have reached out to the U.S. to begin trade negotiations, as stated by U.S. National Economic Council Director Kevin Hassett. These actions are in response to the U.S. imposing tariffs, with countries seeking to negotiate new trade deals to mitigate the impact of these tariffs. (Grok)

News

Bitcoin Dips Below $80,000, Hits $78,000 Amid Market Liquidation

On April 6, 2025, Bitcoin experienced a significant price drop, falling below $80,000 and reaching as low as approximately $78,000. This decline was accompanied by a $200 million liquidation from the cryptocurrency market within the past hour. Ethereum also saw a decrease, falling below $1,700, marking a notable downturn in the broader crypto market. (Grok)

News

Trump's Tariffs Prompt Global Trade Shifts

President Trump has recently imposed tariffs on several countries, prompting a variety of responses globally. Vietnam has proposed eliminating tariffs on U.S. goods following discussions with Trump, with plans to send diplomats to Mar-a-Lago to finalize the agreement. In the UK, Prime Minister Keir Starmer has acknowledged the failure of globalization and expressed understanding of Trump's tariff strategy. Meanwhile, business leaders like Elon Musk have advocated for a zero-tariff system between the U.S. and Europe to establish a free trade zone. Public opinion on these tariffs is divided, with some seeing an increase in Trump's approval ratings, while others, including investors, express concerns over economic impacts. (Grok)

World News, Biz, Markets, Resources, Politics, Media

April 4, 2025

Tariff wars made the dollar a risky asset

Gold

Movements in metals have been monumental. A 3% rise deep into the region of all-time highs for Gold was followed by a collapse of more than $100 from $3,170 to $3,050 an ounce. On Friday, trading stabilised near $3100, minimally adding to levels at the opening of the week.

Tactically, this is a good time for the bulls to exhale and lock in profits. This is confirmed by the fulfilment of an important growth target and the entry into extreme overbought on weekly timeframes on RSI. Multi-week corrections started in similar conditions in 2024.

Oil

Oil took a double hit in the week in less than 24 hours when it came under pressure from the macroeconomy due to tariffs and OPEC+ actions. Tired of waiting for the global economy to accelerate, the Cartel switched gears in the battle for market share, pledging to ramp up production faster than the previously announced plan.

Similar moments occurred in March 2020 and December 2014. On both occasions, oil dipped below $30 a barrel before finding support in the form of coordinated action by global producers. In theory, coordination is now at a higher level, but that doesn't negate the powerful pressures expected due to the trade shock and supply expansion.

Technically, oil is breaking through the bottom of the three-year range, and the 50-week moving average worked as resistance for the third time since September. (FxPro)

News

Cryptos Today

BTC. $83,789.09. 0.70%
ETH. $1,812.44. 0.36.
USDT. $0.9997. 0.00%
XRP. $2.1330. 2.61%
BNB. $596.22. 0.09%
SOL. $120.95. 3.74%
USDC. $1.0000. 0.01%
DOGE. $0.1696. 3.20%

News

Markets

ASX 200 futures are pointing down 93 points/1.2 per cent to 7786

AUD +0.4% to US63.22¢

Bitcoin -4.7% to $US82,018

Wall St:
Dow -4%
S&P -4.8%
Nasdaq -6%
VIX +8.26 to 29.77
Gold -0.9% to $US3108.38 an ounce
Brent oil -6.7% to $US69.91 a barrel
Iron ore -1.5% to $US101.25 a tonne
10-year yield: US 4.04% Australia 4.26%

News

Germany Considers Gold Withdrawal from U.S. Vault

Germany is contemplating the withdrawal of approximately 1,200 tons of gold, valued at around $124 billion, from a U.S. Federal Reserve vault in New York. This consideration comes in the context of recent U.S. tariffs imposed by President Trump. The decision-making process involves senior officials from the Christian Democratic Union (CDU) Party, who are set to lead the next German government in the Bundestag. The potential repatriation of gold has not occurred since World War II, highlighting the significance of the current deliberations. (Grok)

News

Bitcoin Holds Steady Amid Stock Market Turmoil

On April 4, 2025, the US stock market experienced a significant drop, with over $1.5 trillion in value being erased. Amidst this turmoil, Bitcoin has shown resilience, maintaining its value around $80,000. Some observers and investors view this as a sign of Bitcoin decoupling from traditional financial markets and emerging as a potential safe haven asset, similar to gold. US Treasury Secretary Scott Bessent has publicly stated that 'Bitcoin is becoming a store of value,' reflecting a viewpoint that is gaining traction among some in the financial community. (Grok)

News

Coffee Tariffs Prompt Debate on U.S. Production

The United States is currently facing a discussion around proposed tariffs on imported coffee, which could impact consumer prices. While coffee is grown in the U.S., primarily in Hawaii, the production volume is significantly less than the national demand. Increasing domestic production to meet this demand presents logistical and time-related challenges, as coffee plants require several years to mature and produce a full crop. Opinions vary on the feasibility and desirability of relying more heavily on American-grown coffee to circumvent the potential tariff-induced price increases.

Markets

April 4, 2025

ASX futures down 74 points or 0.9% to 7805

AUD +0.6% to US63.35¢

Bitcoin -4.6% to $US82,296

Wall St:

Dow -3.3%
S&P -4.1%
Nasdaq -5.2%
VIX +6.02 to 27.53
Gold -0.7% to $US3112.12 an ounce
Brent oil -6.5% to $US70.09 a barrel
Iron ore -1.5% to $US101.25 a tonne
10-year yield: US 4.05% Australia 4.26%

Cryptos Today:

BTC. $81,846.87. 5.49%
ETH. $1,774.30. 6.24.
USDT. $0.9997. 0.02%
XRP. $2.0101. 6.23%
BNB. $587.77. 2.64%
USDC. $1.0000. 0.01%
SOL. $113.95. 12.19%
DOGE. $0.1581. 8.06%

Markets

March 29, 2025

ASX futures down 91 points/1.1% to 7929
AUD -0.3% at US62.87¢
Bitcoin -3.9% to $US83,810
Dow -1.7%
S&P -2%
Nasdaq -2.7%
Gold +0.7% to $US3077.49 an ounce
Brent oil -0.6% at $US73.61 a barrel
Iron ore -0.2% at $US103.25 a tonne

Markets

March 24, 2025

ASX futuresdown 0.5 per cent or 41 points to 7945

AUD flat at US62.73¢

Bitcoin +1.2% to $US85,147

Wall St:
Dow +0.1%

S&P +0.1%

Nasdaq +0.5%

VIX -0.52 points to 19.28

Gold -0.8% to $US3022.15 an ounce

Brent oil +0.2% to $US72.16 a barrel

Iron ore -0.5% to $US100 a tonne

10-year yield: US 4.25% Australia 4.39%

Crypto Today

BTC. $85,293.57. 1.15%
ETH. $2,001.72. 0.75.
USDT. $1.0001. 0.03%
XRP. $2.4026. 0.56%
BNB. $622.52. 0.78%
SOL. $132.21. 2.11%
USDC. $1.0003. 0.02%
ADA. $0.7082. 0.59%

Media Man Group Market Feed

News, Crypto, Markets, Biz, Politics, Media

March 13/14, 2025

Crypto: just a bumpy downtrend

Market picture

The crypto market declined during the week to a total capitalisation of $2.5 trillion, a third lower than the peaks in December last year. However, towards the end of the week, we could see attempts to stabilise the market, with a rebound of $2.67 trillion.

Despite the growth attempts, only if the market breaks above its 200-day moving average will we be able to take it as a signal of a return to growth. For now, the market dynamics resemble no more than just a bumpy downtrend.

The story is similar in Bitcoin, where the bears are regaining control of the market on bounces to the $83,500 area. A 200-day moving average is near this level.

Ethereum is in a steep decline, having pulled back below $1900. At its low point, it was below $1750. It hasn't been this cheap since October 2023, losing over half of its price since its peak in mid-December.

News Background

Outflows from spot bitcoin-ETFs in the US continue for the seventh day in a row, with 19 trading sessions out of 21 already.

CryptoQuant calls the range of $75,000 - 78,000 as support, which coincides with the lower boundary of the realised price. If the quotes are fixed below this zone, the $63,000 mark may become a benchmark.

Senator Cynthia Lummis introduced an updated Bitcoin Act bill in the US Senate that would allow the government to store more than 1 million bitcoins as part of a newly created crypto reserve. The US can buy 200,000 BTC each year for five years, reallocating funds from the Fed and Treasury Department.

The US SEC has extended the deadlines for several applications to launch spot ETFs based on XRP, Solana, Litecoin and Dogecoin. Bloomberg called the regulator's move ‘expected’ and in line with standard procedures. (FxPro)

News

The crypto bounces back from extreme fear

Market picture

The cryptocurrency market bounced 2% in the last 24 hours to $2.67 trillion. So far, the situation looks like a small rebound after the collapse. We should not talk about the beginning of recovery as long as the market is below its 200-day moving average of $2.83 trillion.

Sentiment in the crypto market has shifted from dread to fear at 34. The indicator was last higher more than three weeks ago, indicating that now is a good time to buy. However, it's worth paying attention to the nervous stock market before considering investments in more volatile cryptocurrencies.

Bitcoin was climbing above $83,000 on Tuesday, hitting resistance in the form of the 200-day moving average. If a long-term trend line is repurposed as resistance, that's a worrisome bearish fact.

Ethereum ended Tuesday with growth and was trading near $1900 at the start of Wednesday, but this is a timid rebound within the steep peak the coin has been in since February 24th and the broader downtrend of the past three months.

News Background

CryptoQuant states a sharp drop in open interest in Bitcoin and Ethereum futures, suggesting a ‘leverage washout’ and a chance of market stabilisation. The Kobeissi Letter admits a wave of short position unwinding in risk assets after extreme fear levels are reached.

Clearstream, the post-trading arm of Deutsche Börse, will offer cryptocurrency settlement and custody services to institutional clients as early as next month, starting with Bitcoin and Ethereum. It then plans to add support for other cryptocurrencies and services for staking, lending and brokerage.
Glassnode notes that Solana fell below its realised price of $134 for the first time in three years. The metrics show the average cost for investors to purchase the coin.

According to Arkham Intelligence, on 11 March, bankrupt exchange Mt. Gox transferred 11,501 BTC (~$905 million) to an unknown address. Mt. Gox-related addresses hold a total of 35,915 BTC worth $2.89bn. (FxPro)

News

Gold hits fresh record

March 14, 2025

Spot gold hit a fresh record high on Friday after the US threatened higher tariffs on the EU, adding to growing concerns that levies could hamper economic growth.Prices rose as high as $US2990.02. It came after spot gold notched its biggest intraday gain this year on Thursday, rising 1.9 per cent. US President Donald Trump overnight threatened to impose 200 per cent tariffs on alcohol from the European Union, after the block set a 50 per cent tariff on American whisky.

News

Trump crypto venture has talked to Binance about doing business

March 14, 2025

World Liberty Financial, one of the Trump family’s crypto ventures, has discussed doing business with the world’s largest digital-asset exchange, Binance Holdings, according to four people with knowledge of the talks.

The exchange’s founder pleaded guilty to failing to take required measures to prevent terrorists, child abusers and entities in sanctioned nations from using its services.

It’s not clear what stage the discussions have reached or whether they’ll result in any transactions or ventures, said the people, who asked not to be named because the talks are private.

Two of the people who spoke said conversations have included the possibility of Binance developing a stablecoin – a dollar-backed cryptocurrency – with World Liberty, which President Donald Trump and his sons began promoting in September. The Trumps receive three-quarters of World Liberty’s net revenue, according to its founding documents.

In addition, representatives of the Trump family have held talks with Binance about taking a stake in its US arm, Binance US, The Wall Street Journal reported on Thursday (Friday AEDT), citing people familiar with the matter. In a post on X, Binance founder Changpeng Zhao said he has not held discussions about a Binance US deal with anyone.

Zhao pleaded guilty in 2023 to anti-money laundering failures that allowed Binance to be used by criminal groups and terrorist organisations, including Hamas.

Zhao, known as “CZ”, was released from a halfway house in Long Beach, California, in September after serving a four-month sentence. Binance paid a $US4.3 billion fine. Zhao has been pushing for the Trump administration to grant him a pardon, according to the Wall Street Journal’s report.

Three months after leaving the halfway house, Zhao met with Steve Witkoff, a co-founder of World Liberty, in Abu Dhabi at the Bitcoin MENA 2024 conference, two of the people said. Witkoff is the president’s Middle East envoy. He is slated to meet with Russian President Vladimir Putin this week as part of the Trump administration’s efforts to halt the fighting that began when Russia invaded Ukraine three years ago.

The substance of Witkoff’s meeting with Zhao in December is not clear. Talks between the crypto companies they founded have taken place since then, according to the four people with knowledge of the matter.

Witkoff did not immediately respond to a request for comment, nor did a White House spokesperson. Witkoff has said he’s in the process of divesting from his crypto assets as well as his holdings in real estate, transferring holdings to his sons to manage potential conflicts of interest.

A representative for Binance US declined to comment on Thursday, and representatives for World Liberty did not respond to requests for comment.

Zhao is still Binance’s controlling shareholder, with a net worth of $US36.9 billion ($58.7 billion), according to the Bloomberg Billionaires Index. He stepped down as its chief executive officer in November 2023, when he pleaded guilty to failing to maintain an anti-money laundering program.

Richard Teng, who replaced Zhao, said in February that he sees an opportunity for a “fresh reset and a restart” under Trump, though he did not specify any plans. (Full article and coverage via subscription to The Australian Financial Review)

News

SEC Proposes XRP as Key U.S. Financial Asset

The U.S. Securities and Exchange Commission (SEC) has released a document titled 'Comprehensive Proposal: XRP as a Strategic Financial Asset for the U.S.' This proposal explores the potential for XRP to become a key financial asset, discussing the replacement of the SWIFT system, legal clarity for XRP, and economic benefits like unlocking $1.5 trillion in banking liquidity. Discussions are also underway regarding whether XRP should be classified as a commodity, similar to Ethereum, which could influence its regulatory and market future.

News

Rumble's Strategic Bitcoin Acquisition

March 13, 2025

Rumble, a video platform and competitor to YouTube, has announced the purchase of 188 Bitcoins for approximately $17.1 million. This acquisition is part of Rumble's strategy to integrate Bitcoin into its treasury management, aiming to hedge against inflation and participate in the growing trend of corporate cryptocurrency adoption. The move reflects a broader acceptance of Bitcoin as a legitimate financial asset among companies.

March 11, 2025

Bitcoin Plunge and U.S. Crypto Reserve Plan

Bitcoin experienced a significant price drop, falling below $80,000 after reaching a high of over $84,000. This decline contributed to a market cap loss of $100 billion in the cryptocurrency sector. Concurrently, the U.S. government has announced plans for a Strategic Bitcoin Reserve, intended to hold cryptocurrency forfeited through legal actions, sparking discussions on market stability and government involvement in crypto. (Grok)

News

US confirms its critical minerals agenda as fallen miner AVZ chases an improbable African prize

A spokesman for the US State Department has confirmed that the Trump administration is interested in entering into a critical minerals partnership with the Democratic Republic of the Congo (DRC). DRC President Felix Tshisekedi is said to want to strike a deal with the US to help resolve a conflict with Rwanda-backed M23 rebels, while any deal between the DRC and the US could help Australian company AVZ Minerals. AVZ is seeking to regain control of the Manono lithium deposit, which it contends was illegally seized from it by Chinese company Zijin, and it is understood that the Trump administration would want to see AVZ regain control of at least some part of Manono as part of any deal with the DRC. (Roy Morgan Summary)

News

Markets

Australian Dollar: $0.6282 USD (down $0.0035 USD)
Iron Ore Apr Spot Price (SGX): $102.20 USD (up $1.60 USD)
Oil: (WTI): $66.61 USD (down $1.09 USD)
Gold: $2,983.88 USD (up $52.14 USD)
Copper (CME): $4.9240 USD (up $0.0815 USD)
Bitcoin: $80,472.06 USD (down 2.82% in last 24 hours)
Dow Jones: 40,813.57 (down 537.35 points)

News

Roy Morgan wins Media Man 'News Services Company Of The Month' award

News Media

Australia Peter Dutton More Crypto Friendly And Switched On Than Albanese (Media Man Group)

News

"Dutton A Genuine Contender" (Sky News Australia)

Crypto, Fintech, Markets, News and Politics via Media Man

March 12/13, 2025

The crypto bounces back from extreme fear

Market picture

Bitcoin was climbing above $83,000 on Tuesday, hitting resistance in the form of the 200-day moving average. If a long-term trend line is repurposed as resistance, that's a worrisome bearish fact.

News Background

Glassnode notes that Solana fell below its realised price of $134 for the first time in three years. The metrics show the average cost for investors to purchase the coin.

News

SEC vs Ripple Case: Negotiations Underway for Settlement

Recent developments indicate that the legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) could be nearing a conclusion. Reports suggest that Ripple's legal team is currently negotiating more favorable terms related to a $125 million fine and an injunction on XRP sales to institutional investors. The anticipation of a settlement has led to increased interest and speculation within the cryptocurrency community regarding the outcome and its potential impact on XRP. (Grok)

News

U.S. Plans Strategic Bitcoin Reserve Acquisition

Senator Cynthia Lummis has reintroduced the BITCOIN Act, which proposes that the United States government purchase one million Bitcoins over five years to create a strategic reserve. This legislative move reflects a growing acknowledgment of Bitcoin as a digital asset for national economic strategy, garnering support from both traditional financial sectors and cryptocurrency advocates. Alongside this, there is an ongoing debate about the implications, risks, and potential benefits of such a reserve. (Grok)

News

Trump's Crypto Banking Deregulation

President Donald Trump is reportedly planning to sign an executive order that would reverse regulations set by the Biden administration aimed at restricting banking activities for cryptocurrency firms. This move could impact how crypto companies interact with the Federal Reserve, potentially leading to greater integration of cryptocurrencies within the traditional financial system. (Grok)

News

Rumble's Strategic Bitcoin Acquisition

News

Trump Predicts Market Surge Amid Economic Indicators

President Trump has publicly stated his belief that the U.S. financial markets are poised for significant growth, making his comments at an event with business leaders. This optimistic forecast follows recent economic indicators showing inflation cooling to levels not seen in years, despite mixed responses from markets regarding Trump's economic policies including tariffs. (Grok)

News

Ethereum's Lowest BTC Ratio Since 2020 Triggers Liquidation Risk

The Ethereum Foundation faces potential liquidation of over $100 million in assets if Ethereum's price drops to $1,100, amidst a historic low in the ETH/BTC trading ratio not seen since May 2020. This financial maneuver is part of Ethereum's strategy to manage its treasury through decentralized finance (DeFi), highlighting both the risks and innovative approaches to crypto-asset management in a volatile market. (Grok)

News

Gold funds burst out of the blocks in 2025 as returns rocket

Australian gold funds are shaping up for a bumper year as mining companies start to capitalise on record prices, helping the stocks to finally catch up to the performance of the precious metal.

Portfolio managers were left frustrated last year after a jump in production costs held back ASX-listed gold producers from riding the rally in the spot prices to record levels. The VanEck Gold Miners exchange-traded fund climbed nearly 20 per cent in 2024 versus a 38 per cent rally for the gold price in Australian dollars.

But easing cost inflation that has plagued the mining sector for the last three years and an ongoing surge in prices has seen the trend reverse course. VanEck’s Gold Miners ETF is up 17 per cent already this year while the Aussie dollar spot price has climbed 6.3 per cent.

Local fund managers are bullish that gold has much further to run after the US dollar price climbed above $US2942 an ounce for the first time and the Australian dollar gold price breached $4500 an ounce.

Victor Smorgon Partners’ Resource Gold Fund returned a chunky 13.3 per cent in January and portfolio manager Cameron Judd believes the valuations of ASX gold stocks still don’t reflect the outlook for the yellow metal.

“Gold’s performance in times of uncertainty or crisis could see it push towards $US3600,” Mr Judd said. “Despite the strong gold price performance and fundamentals supporting further appreciation, gold miners are trading at discounted valuations on the ASX.”

Wall Street’s biggest banks believe a $US3000 price tag is imminent. Citi said it was possible within the next three months, while JPMorgan has a year-end target of $US3150. Bank of America said on Thursday that gold could reach $US3500 an ounce if investment demand rises 10 per cent this year.

The unprecedented surge in the gold price has been fuelled by investors seeking safe haven assets as US President Donald Trump unleashes aggressive trade and geopolitical policies. There are fears the president will accelerate inflation, forcing central banks to raise rates in a way that damages global growth.

Victor Smorgon’s top holdings include ASX-listed Vault Minerals and the world’s largest gold miner, US-based Newmont, which recently acquired Newcrest. The fund also owns Australia’s biggest gold miner Northern Star, which agreed to buy rival De Grey in a $5 billion deal. (AFR) *Full article and coverag via subscription to The Australian Financial Review.

News

Australia

Northern Star paying top dollar for gold rival

Northern Star has offered $5 billion to buy De Grey Mining, with De Grey shareholders to vote on the offer on 16 April. De Grey is the company behind the Hemi gold prospect in Western Australia, which is thought to hold at least 11 million ounces of gold and which is slated to produce 530,000 ounces annually in its first decade of operation. KPMG, which was engaged to provide an independent assessment of Northern Star's offer, has valued DeGrey at between $4 billion and $4.79 billion, inclusive of a premium for control. It concludes that the offer is "fair and reasonable and therefore is in the best interests of De Grey shareholders, in the absence of a superior proposal". (Roy Morgan Summary)

News

March 12, 2025

Crypto market tumbles after stocks

Market picture

Crypto market capitalisation has been falling to $2.5 trillion following the rumbling fall of the US stock market. It is dipping below the peaks of early 2024 and late 2021. Previously, a similar decline would complete a corrective pullback, attracting buyers. However, the chances of such an outcome are now lower than in previous years due to the powerful influence of traditional financial companies, which has strengthened the link between the crypto market and stock dynamics.

For now, though, we can argue that there is less terror in crypto. The Fear and Greed Index is at 24 (+4 points for the day), while the low point was a week earlier at 10.

Bitcoin slipped towards $76.5K in the early hours of Tuesday but has popped above $80K at the time of writing, approaching Monday’s consolidation levels. A bearish pattern persists on the daily timeframes, which suggests a strengthening sell-off after a failure under the 200-day moving average. The scenario of a pullback to the $70-74K area still looks the most probable for us. This is all the truer as the consolidation and rebound in early March has taken the short-term oversold stance out of the market.

Ethereum is trying to find a pivot point after falling towards $1750 at the start of Tuesday. These were the lowest values in the last 17 months. On weekly timeframes, the RSI oscillator hit its lowest point since mid-2022 - near the bottom of the bear market. Does this signify an opportunity for the recklessly bold or a breakdown in the leading altcoin? We will find out in the coming days.

News Background

According to CoinShares, global crypto fund investments fell by $876 million last week after record outflows of $2.911 billion a week earlier. Investments in Bitcoin fell by $756 million; in Ethereum, by $89 million. Investments in Solana rose by $16 million, in XRP by $6 million, and in Sui by $3 million.

As a result of another recalculation, Bitcoin mining difficulty increased by 1.43% to 112.15T. The growth did not compensate for a 3.15% drop two weeks ago. However, the figure came close to the all-time high of 114.17T reached in January.

Strategy (former MicroStrategy) intends to raise $21bn through the sale of preferred shares as part of its At-The-Market program. The proceeds will be used to buy Bitcoin and other corporate purposes. (FxPro)

News

March 11, 2025

US Senator And Congressman Introduce Strategic Bitcoin Reserve Bills To Buy One Million BTC

Speaking at the “Bitcoin for America” summit, lawmakers announced their plans to create a federal bitcoin reserve that would see the U.S. buy one million BTC.

Today at the Bitcoin Policy Institute’s “Bitcoin for America” summit in Washington DC, U.S. Senator from Wyoming Cynthia Lummis announced that she is going to reintroduce her strategic Bitcoin reserve legislation in the Senate today.

“I am so pleased to announce that today I will be reintroducing The Bitcoin Act,” Senator Lummis stated. “And I’ll be joined here shortly by Senator Justice of West Virginia, who is one of the cosponsors. And we have several other additional cosponsors. And a lot of it is a result of the excitement that’s been building.” (Bitcoin Magazine). *Full article via Bitcoin Magazine

News

XRP wins Media Man 'Crypto Of The Month' award

News

Markets

Australian Dollar: $0.6317 USD (up $0.0020 USD)
Iron Ore Apr Spot Price (SGX): $100.60 USD (up $0.15 USD)
Oil (WTI): $67.70 USD (up $1.14 USD)
Gold: $2,931.74 USD (up $13.03 USD)
Copper (CME): $4.8425 USD (up $0.0500 USD)
Bitcoin: $82,880.91USD (up 0.32% in last 24 hours)
Dow Jones: 41,350.93 (down 82.55 points)

News

Roy Morgan wins Media Man 'News Services Company Of The Month' award

News Media

Australia

Peter Dutton More Crypto Friendly And Switched On Than Albanese (Media Man Group)

News

"Dutton A Genuine Contender" (Sky News Australia)

March 10, 2025

ASX futures are pointing up 69 points, or by 0.9 per cent, to 8011.

All US prices are as of 4.15pm Sunday in New York:

Bitcoin -3.7% to $US83,138
On Wall St: Dow +0.5% S&P +0.6% Nasdaq +0.7%
VIX -1.5 to 23.37
Gold -0.1% to $US2909.10 an ounce
Brent oil +1.3% to $US70.36 a barrel
Iron ore +0.3% to $US100.70 a tonne
10-year yield: US 4.3% Australia 4.4%

January 10, 2025

ASX futures up 33 points or 0.4%

AUD -0.3% to 61.98 US cents
UK pound -0.4% to $US1.2309
Bitcoin -2.9% to $US91,275 at 7.23am AEDT
US markets closed for Jimmy Carter’s funeral
Stoxx 50 +0.4% FTSE +0.8% DAX -0.1% CAC +0.5%
Spot gold +0.3% to $US2671.00/oz at 1.55pm in New York
Brent crude +1.2% to $US77.08 a barrel
Iron ore +1% to $US97.40 a tonne
10-year yield: US 4.69% Australia 4.48% Germany 2.56%
US prices as of 1.59pm in New York

Media Man Group Market Feed

March 10, 2025

ASX futures are pointing up 69 points, or by 0.9 per cent, to 8011.

All US prices are as of 4.15pm Sunday in New York:

Markets

January 4, 2025

ASX futures up 23 points or 0.3% near 8am AEDT

AUD +0.2% to 62.16 US cents

Bitcoin +1.2% to $US98,195 at 8.27am AEDT

On Wall St at 4pm: Dow +0.8% S&P +1.3% Nasdaq +1.8%

In New York: BHP -0.8% Rio -0.3% Atlassian +3.3%

Tesla +8.2% Apple -0.2% Nvidia +4.7% Microsoft +1.1%

Alphabet +1.3% Amazon +1.8% Meta +0.9%

Mara +14.1% MicroStrategy +13.2% Iren +8.4%

VIX -1.8 to 16.13 QQQ +1.6% TLT -0.3%

Stoxx 50 -0.9% FTSE -0.4% DAX -0.6% CAC -1.5%

Spot gold -0.7% to $US2639.37oz at 4.51pm in New York

Brent crude +0.9% to $US76.58 a barrel

Iron ore -2.6% to $US98.30 a tonne

10-year yield: US 4.60% Australia 4.38% Germany 2.42%

US prices as of 4.54pm in New York

Markets and Commodities

October 10, 2024

Australian Dollar: $0.6710 USD (down $0.0040 USD)

Iron Ore Nov Spot Price (SGX): $105.15 USD (unchanged - public holiday)

Oil Price (WTI): $73.36 USD (down $0.55 USD)

Gold Price: $2,607.14 USD (down $15.75 USD)

Copper Price (CME): $4.4080 USD (down 0.0605 USD)

Bitcoin: $60,908.07 USD (down 2.11% in last 24 hours)

Dow Jones: 42,512.00 at 4.20pm NY time (up 431.63 points on yesterday's close)

Pop Culture News, Trending News

September 26, 2024

Under The Media Man Watercooler

Dana White Contender Series (UFC) broadcast today/tonight via ESPN.

WWE Raw: New Intercontinental Champion Jey Uso.

Netflix: 'Mr. McMahon' docu-series due to hit 'Big N' around the time you read this in most global markets; Vince McMahon requests "open mind" and cites "distorts the viewers perception"

Media And Entertainment Industry: Global Layoffs Continue: Big end of town, medium through to smaller operations. A.I, M&A and overall cost cutting cited as some of the numerous reasons.

News Corp - Rupert Murdoch Family Dynasty. Real life 'Succession' meetings occuring at Washoe County Courthouse, Reno, Nevada, with Rupert Murdoch, other key family members and legal representatives. Re restructuring of Murdoch Family Trust. $19bn trust! 7 blacked out SUV's pulled up ... Some documents unsealed via The New York Times.

Box Office Movies (North America)

1. Beetlejuice Beetlejuice - $26m

2. Transformers One - $25m

3. Speak No Evil - $5.9m

Combat Sports News

MMA: UFC Fight Night: France. September 29

WWE NXT. Florida. Broadcast today. WWE and TNA Wrestling collaboration and appearances tipped and ongoing!

WWE SmackDown - September 27. Oklahoma City

WWE Bad Blood - October 5. Atlanta, Georgia. Cody Rhodes and Roman Reigns vs The Bloodline (Solo Sikoa and Jacob Fatu)

UFC 307 - October 6. Salt Lake City, Utah

Netflix: Queen Of The Villains based on Dump Matsumoto and Japanese pro wrestling industry continues to impress both new and more experienced and knowledgeable audiences.

Netflix: Terminator: Zero gets big thumbs up. Adult supervision recommended!

News Media And Politics: Distrust in sectors at all time and and for good reason: Media Man Group.

YouTube And Netflix in battle for same and similar type audiences; Household continue to "cut the cord"! YouTube making viewer friendly changes to web interface with TV broadcast audiences in mind. Remaining smartphone friendly.

Online Newspapers Continue To Order Subscribers Significant Discounts To Retain Readership Numbers.

Pro Wrestling: Numerous World Class Wrestlers Tipped To Appear On WWE TV in near future. The names Lucha Bros and Motor City Machine Guns keep coming up!

Niche Audiences With Some Scoops And Inside Intel helps success of online based media companies; High traffic websites and solid social media performance key elements of success.

Blockchain/Crypto: Celebs And Brands Keep Experimenting With Memecoins! Not many will enjoy a Doge/Musk And/Or Logan Paul type profile! ... for better or worse! Logan Paul back to family matters and worldwide audiences yearning for LP return to WWE rings already! Cheers with Prime!

Market, Commodities and Financial News Snapshot via Media Man

October 7, 2024

ASX futures up 26 points or 0.3% to 8215 near 6am AEST

AUD +0.1% to US68.01¢

Bitcoin +1.3% to $US62,692

US 10-year yield +13bp to 3.97%

Dow +0.8% S&P +0.9% Nasdaq +1.2%

FTSE flat DAX +0.6% CAC +0.9%

Gold -0.1% to $US2653.60 an ounce

Brent oil +0.6% to $US78.05 a barrel

Iron ore -0.3% to $US108.70 a tonne

Markets and Commodities

October 7, 2024

Australian Dollar: $0.6786 USD (down $.0054 USD)

Iron Ore Nov Spot Price (SGX): $108.70 USD (down $0.05 USD)

Oil Price (WTI): $74.38 USD (up $0.67 USD)

Gold Price: $2,653.25 USD (down $2.79 USD)

Copper Price (CME): $4.5675 USD (up 0.0240 USD)

Bitcoin: $62,679.21USD (up 1.48% in last 24 hours)

Dow Jones: 42,352.75 (up 341.16 points on Thursday's close)

Combat Sports

September 11,2024
WWE Speed
Naomi vs Blair Davenport

September 13, 2024
WWE SmackDown
Cody Rhodes vs Solo Sikoa - Steel Cage Match - Undisputed WWE Title
Climate Pledge Arena Seattle, Washington

September 13, 2024
Bare Knuckle Fighting Championship
BKFC 66 - Blass vs Reber
Seminole Hard Rock Hotel. Hollywood, Florida

September 14
UFC
UFC Noche aka UFC 306
Sphere, Las Vegas
O'Malley vs Dvalishvili

September 14
Premier Boxing Champions
MGM T-Mobile Arena

News

Streaming Entertainment via Grok; X TV Tipped To Eventually Go Head To Head With YouTube, Netflix, But Will Take Many Years To Get To That Point; Customers Waiting To Churn/Switch. Changes Ahead For WBD, HBO, Binge, Paramount And Many Others - Too Many To List! Media Man Founder and Subscriber TV Veteran

Streaming entertainment has transformed how we consume media, offering a vast array of movies, TV shows, music, and more directly to our devices. Here's a breakdown of what's happening in this space as of my last update:

Major Players:

Netflix: Known for its original content like "Stranger Things," "The Crown," and "Squid Game." They've been pushing into gaming and have been experimenting with ad-supported models.

Amazon Prime Video: Comes with Amazon Prime membership. Notable for "The Marvelous Mrs. Maisel," "The Boys," and its integration with shopping and other Amazon services.

Disney+: A powerhouse for family entertainment, featuring Marvel, Star Wars, Pixar, and classic Disney content. It's also expanding its library with more adult-oriented content under the Star banner in some regions.

HBO Max: Offers premium content like "Game of Thrones," "Chernobyl," and a vast library of movies. It's also known for its DC Universe shows.

Apple TV+: While newer, it's making waves with high-quality originals like "Ted Lasso," "The Morning Show," and "See."

Peacock (NBCUniversal): Provides a mix of free and premium content, including "The Office," WWE, and original series like "Punky Brewster."

Paramount+: Combines CBS All Access with content from Paramount, Nickelodeon, MTV, and more, featuring shows like "Star Trek: Discovery" and "The Stand."

Trends and Developments:

Original Content: There's a massive push towards creating exclusive content to attract subscribers. This includes movies, series, documentaries, and even live sports.

Global Expansion: Services are increasingly focusing on international markets, either by offering local content or by making their service available in more countries.

Bundling: Companies are bundling their streaming services with other products. For example, Disney has bundles with Hulu and ESPN+.

Ad-Supported Models: To combat rising costs, some platforms like Netflix have introduced or are considering ad-supported tiers.

Direct-to-Streaming Releases: Movies are increasingly bypassing traditional theatrical releases, going straight to streaming platforms, especially noted during global health crises.

Quality Over Quantity: While there's a lot of content, platforms are also focusing on high-quality, award-winning productions to stand out.

Interactive Content: Some platforms are experimenting with interactive movies or shows where viewers can choose the plot direction.

Technological Integration: Enhanced with technologies like 4K, HDR, Dolby Vision, and Dolby Atmos for audio, providing a cinematic experience at home.

Challenges:

Content Saturation: With so many platforms, there's a risk of content fatigue among viewers.

Churn: Subscribers frequently switch between services based on what's currently available, leading to high turnover.

Regulatory Scrutiny: Issues like market dominance, content licensing, and privacy are increasingly under regulatory lenses.

Piracy: Despite advanced measures, piracy remains a challenge, especially for content not easily accessible in certain regions.

If you're interested in a specific aspect of streaming entertainment or want to know about recent developments since my last update, feel free to ask! If there's a particular service or type of content you're curious about, I can dive deeper into those areas. (Grok)

News

Streaming TV

Streaming TV has revolutionized how we consume television content, offering a vast array of shows, movies, and original programming through internet-based platforms rather than traditional cable or satellite TV. Here's a breakdown of what you might be interested in regarding streaming TV as of my last update:

Key Players:

Netflix: Known for its extensive library, original content like "Stranger Things," "The Crown," and "Squid Game," and a global reach.

Amazon Prime Video: Comes with an Amazon Prime subscription, offering shows like "The Marvelous Mrs. Maisel," "The Boys," and movies, plus the integration with shopping services.

Hulu: Offers a mix of current TV episodes, a robust library of older content, and originals like "The Handmaid's Tale." It's also notable for its live TV option.

Disney+: Focuses on family-friendly content, including Marvel, Star Wars, Pixar, and National Geographic. Hits include "The Mandalorian" and "WandaVision."

HBO Max: Home to HBO's acclaimed series like "Game of Thrones," "Chernobyl," plus a wide range of Warner Bros. movies and new originals.

Apple TV+: While newer, it's gaining traction with high-quality originals like "Ted Lasso," "The Morning Show," and "Foundation."

Peacock: NBCUniversal's service, offering a mix of free and premium content, including "The Office," "Parks and Recreation," and new originals.

Trends and Features:

Ad-Supported vs. Ad-Free: Many services now offer tiers where you can choose between watching with ads for a lower price or paying more for an ad-free experience.

Live TV Streaming: Services like Hulu + Live TV, YouTube TV, and Sling TV allow streaming of live broadcast channels, appealing to sports fans and those who still want traditional TV experiences.

Bundling: Some platforms offer bundles with internet service providers or other streaming services to reduce costs.

Original Content: There's a significant push towards exclusive, original content to differentiate services, leading to a golden age of TV with high-quality, diverse programming.

Global Expansion: Services are increasingly focusing on global markets, offering localized content or subtitles/dubbing in multiple languages.

Technological Considerations:

4K and HDR: Many services now offer content in 4K resolution and HDR, enhancing viewing quality.

Offline Viewing: Most services allow downloading content for offline viewing, which is great for travel or areas with poor internet.

Smart TVs and Devices: Streaming is not just for computers or smartphones anymore; smart TVs, streaming sticks (like Roku, Amazon Fire Stick), and gaming consoles have made streaming accessible on almost any screen.

Challenges:

Content Fragmentation: With content spread across multiple services, there's a growing issue of "streaming fatigue" where consumers feel overwhelmed by the number of subscriptions needed.

Price Increases: As content quality and exclusivity rise, so do subscription costs, leading to discussions about the cost-effectiveness of streaming vs. traditional cable.

Piracy: The fragmentation and cost have somewhat revived piracy concerns as viewers look for ways to access content without multiple subscriptions.

If you're looking for recommendations or have specific questions about streaming services or shows, feel free to ask! If there's been a significant update or new service since my last update, you might want to check the latest reviews or news for the most current information. (Grok)

Streaming Media Industry Disruptions Continue

Additional Mergers And Acquisitions Forecast

Live Sport Major Draw As Per Netflix

Compelling Storylines And Series Keeps Audience Coming Back For More As Per WWE

Combat Sports Storytelling And Talent Elevation As Per Dana Whites Contenders Series

Free Services With Ads Supported Has Taken Some Audience As Per Tubi

YouTube Cemented As Major Challenge To Netflix

Paramount's Quality And Iconic Movies Keep Them Valuable Commodity, Despite Bottom Line Loss

X Corp's X Platform One To Watch For Major Industry Disruption; WWE Speed Deal With WWE Just A Minor Preview Of What's On The Cards

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Streaming Movies Top 10 (North America)

August 27, 2024

1. Furiosa (Max)

2. The Union (Netflix)

3. Jackpot (Prime Video)

4. The Instigators (Apple TV+)

5. Alien (Hulu)

6. The Bikeriders (Peacock)

7. Immaculate (Hulu)

8. Kingdom of the Planet of the Apes (Hulu)

9. Alien: Covenant (Hulu)

10. Twister (Max)

News

Top 10 Streaming TV (North America)

August 27, 2024

1. Bad Monkey (Apple TV+)

2. The Umbrella Academy (Netflix)

3. Industry (Max)

4. The Bear (Hulu)

5. From (Prime Video)

6. Presumed Innocent (Apple TV+)

7. Emily in Paris (Netflix)

8. Time Bandits (Apple TV+)

9. A Good Girl's Guide to Murder (Netflix)

10. Evil (Paramount+)

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News (Australia) via Roy Morgan

Shares climb for fifth session; miners drop

August 16, 2024

(Roy Morgan Summary)

The Australian sharemarket posted another modest gain on Thursday, with the S&P/ASX 200 adding 0.2 per cent to close at 7,865.5 points. NRW Holdings rose 9.7 per cent to $3.50, Magellan Financial Group was up 7.6 per cent at $10.44. However, a fall in the iron ore price weighed on local producers of the steel input, with Fortescue down 2.9 per cent at $16.82 and Rio Tinto retreating 3.6 per cent to end the session at $108.40.

(Roy Morgan Summary)

News

Apple opens up tap-and-go but banks wary

Westpac CEO Peter King has welcomed an announcement by Apple that it will allow banks to offer payments directly from their customers' iPhones without the use of its Apple Pay platform. Apple's decision appears to have been forced upon it by a European antitrust deal in July, with Australia's banks having been involved in an ongoing stoush with Apple in a bid to force it to open up its devices to other financial services operators. King said Apple's decision could result in more competition and choice for consumers.

News

ASIC 'was warned about problems with ASX CHESS upgrade'

The Australian Securities & Investments Commission launched legal action against the ASX this week, alleging it made "misleading and deceptive" statements to investors about the status of the upgrade of the CHESS clearing and settlement system. It has been revealed that a technology vendor that was liaising with the ASX in regard to the CHESS upgrade wrote a letter to ASIC in 2021 outlining various concerns it had about the upgrade, while former Sydney Futures Exchange and ASX senior manager Phillip Galvin raised concerns over the CHESS program with the then Reserve Bank assistant governor Michele Bullock in 2021.

News

Qld govt, Rio forge deal to keep smelter viable

Rio Tinto wrote off the value of its stake in the Boyne smelter aluminium smelter in 2023, citing high energy costs. However, the resources group has committed to operating Boyne at full capacity until the end of 2040 after securing a deal with the Queensland government that is believed to include subsidised energy costs for the smelter. Premier Steven Miles says the Rio Tinto deal will help protect Queensland jobs; the Gladstone smelter directly employs more than 1,000 people and boasts annual production capacity of more than 500,000 tonnes of aluminium.

News

Virtual power plant as big as coal power station

Origin Energy has used the release of its annual results on Thursday to advise that its virtual power plant had grown to 1.385 gigawatts from 815 megawatts last year, with 1.385 gigawatts equating to the size of an average coal-fired power station. It comes a day after AGL stated that its virtual power plant had grown to 1.25GW from 1.1GW last year. Virtual power plants are 'aggregations' of customer-owned energy resources such as solar panels, home batteries and electric vehicle chargers; they can be commandeered by an energy retailer with the customer's permission during grid 'squeezes' to avert blackouts and moderate prices.

News

KPMG partner income slides 9pc to $650,000

Consulting firm KPMG has reported 2023-24 revenue of $2.2 billion, down 3.6 per cent, while average partner income was down nine per cent to $650,000; KPMG's average partner income compares to average partner income of about $814,000 at EY and between $430,000 and $516,000 at Deloitte. Like its consulting firm rivals, KPMG has been hit by the downturn in demand for advisory services from the public sector, while private sector demand is down as a result of companies cutting costs in response to higher interest rates.

News

Judge slams Victoria over class actions

NSW Chief Justice Andrew Bell has told the Association of Litigation Funders that 2020 legislation in Victoria that introduced contingency fees had "skewed" the market for class actions. He noted there had been a blanket prohibition on contingency fees prior to then, and that the new class action regime in Victoria had overridden both solicitor conduct rules and the Legal Profession Uniform Law (LUPL) of 2015. Bell claims the recent increase in the number of class actions being filed in Victoria was not because of the quality of its judges but because of the opportunity for solicitors "to take a slice of the outcome of litigation".

News

Telstra rejigs game plan

Telstra is to ask the federal government to reconsider the so-called universal service obligation, which requires it to connect Australians through a copper network at a time when the use of home phones is on the decline. The network is still used for home phones and some NBN connections, but Telstra is suggesting it could be replaced in some areas with quicker satellite connections or other technologies that make it easier to download data. Telstra's call for the universal service obligation to be changed came as it reported its latest annual results, with its net profit for the 12 months to June 30 down 13 per cent to $1.79 billion.

News

'Woefully short': Dearth of cyber security specialists leaves Australians vulnerable

A report by security firm StickmanCyber claims Australia has just 11,300 cyber security workers spread across hundreds of thousands of businesses, with StickmanCyber CEO Ajay Unni saying the number of cyber security specialists is "woefully short" of what is required to combat modern cyber security threats. StickmanCyber's report also found that just 16 per cent of cyber security workers in Australia are female, while the majority of them are migrant workers; its report comes at a time when Australia has experienced a big increase in cyber attacks on companies in recent times, with those on Optus and Medibank two of the more notable ones.

News

IV scandal: excuses are fluid

The Therapeutic Goods Administration is claiming that there is a global shortage of intravenous fluids such as saline, but health authorities in other parts of the world do not seem to be having the same problems as Australia, where hospitals are experiencing a severe shortage of IV fluid bags. People from within the pharmaceutical industry contend the IV crisis is due to the lack of a functional national procurement policy, with state governments each having contracts for the supply of saline fluid. For its part, the TGA states that the federal government is working with state and territory governments, and with private hospitals, to minimise any impact on patient care.

News

Bookies join call to ban gambling ads on jerseys

Bookmaking firms Sportsbet, Pointsbet and Entain contend that excluding wagering companies' logos on jerseys and signs at stadiums from a clampdown on gambling advertising on TV is "illogical". Sportsbet is the biggest online bookmaker and the sector's largest advertiser, and it is the first time it has publicly backed a ban on wagering logos on jerseys and signs. Their comments come as the federal government continues to come under attack for its apparent reluctance to implement a complete ban on gambling advertising, as recommended by a bipartisan inquiry led by late Labor MP Peta Murphy.

News

Casinos to get cash reprieve in NSW after carded play delay

A spokesperson for NSW Gaming Minister David Harris has confirmed that The Star Sydney and Crown Barangaroo casinos will be able to accept cash bets of up to $5,000 for another 12 months, instead being limited to $1,000 from Monday as was previously planned. The spokesman also said that Harris had agreed to extend The Star's deadline to roll out mandatory carded play across its operations until 19 October, with the extension of the deadline by a month coming as a result of a request from new Star CEO Steve McCann.

News

United States

Signed up to Disney+? Disney says you can never sue the company, even for wrongful death

An American man is suing Walt Disney Parks and Resorts over the death of his wife, with Jeffrey Piccolo claiming she died as a result of an allergic reaction to food served at an eatery in Walt Disney World Resort. Disney is seeking to have the case thrown out because Piccolo had previously signed up to a free trial of Disney+, and that in doing so he had agreed never to sue it. His lawyers have described Disney's argument as "absurd", while they also argue while he may have agreed to its term, he did not do so on behalf of his wife or her estate.

News

Live music industry on its knees and pleading for a government lifeline on insurance costs

An increasing number of Australian music festivals are being cancelled or deferred, with many citing increased insurance costs as one of the main reasons for their action. Live music venues are also being hit by higher insurance costs, with one Adelaide pub reporting an increase in its public liability insurance from $10,000 to $40,000 as a result of it offering live music. The National Cultural Policy Senate inquiry used its interim report to recommend that the federal government work with festival providers and the insurance sector to reduce insurance premiums for festivals, as well as investigating options to ensure "access to insurance is available to small and medium operators".

News

Mining And Resources

Pilbara takes $560m punt on Brazil lithium project

Lithium producer Pilbara Minerals will diversity its operations beyond Western Australia with a takeover bid for Latin Resources, which owns the Salinas project in Brazil. Pilbara Minerals is offering 0.07 of its shares for every share in Latin Resources, valuing the latter at about $560m. Pilbara Minerals CEO Dale Henderson has defended the takeover bid for Latin Resources, amid doubts among some analysts about the merits of the deal. Kaan Peker from RBC Capital Markets contends that there may be few synergies given the distance between WA and Brazil.

News

Indonesia learns a lesson from cosying up to China

Chinese investments have helped Indonesia to become the world's dominant producer of nickel, which is a key mineral in the production of electric vehicles. However, the Chinese investment in its nickel sector makes it difficult for Indonesia to access the tax credits available under the US Inflation Reduction Act; tax credits are not available to minerals produced by companies with more than 25 per cent Chinese ownership, with China viewed as a 'foreign entity of concern". Another problem that Indonesia has in regard to accessing the IRA tax credits is that it does not have a free trade agreement with the US, which is a requirement for its nickel to be IRA-compliant.

News

Inquiry leaves door ajar for WA gas exports

A Western Australian parliamentary inquiry has concluded that the state's onshore gas producers should be permitted to export their output, so long as the sector can address a looming domestic shortage, with WA facing a shortfall of up to 30 per cent of its total gas demand in the next decade. Onshore gas producers have argued that being able to export gas would make it easier for them to access greater international investment, and produce more domestic gas, while Wesfarmers and other large gas consumers oppose overturning the current ban on onshore producers exporting their gas.

News

Chinese cuts drive iron ore price to 21-month low

The price of iron ore has fallen to its lowest point since November 2022, being at $95.25 a tonne, with the price of iron ore having topped $US144 on 3 January. It comes after the National Bureau of Statistics of China revealed that steel production in July was 82.94 million tonnes, down nine per cent on the previous month, while production for the first seven months of 2024 was down 2.2 per cent on the same seven months in 2023; China Baowu Steel, the country's largest steel maker, has warned the sector faces a crisis more severe than the downturns of 2008 and 2015.

(Roy Morgan Summary)

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July 1, 2024

Buyers failed to pick up on the crypto market

Market picture

The crypto market has been enjoying an influx of buyers since Saturday, with a visible acceleration on Monday. Over the past 24 hours, capitalisation has risen 3.6% to $2.33 trillion. Last week’s drop in the crypto sentiment index to 30 (fear zone) reversed the price twice, showing that the market is dominated by a ‘buy the dip’ pattern.

Bitcoin is trading near $63.3K, adding 5% since Saturday morning and reaffirming the importance of support at 61.8% of the Jan-March rally. From another perspective, Bitcoin is adding and bouncing off the lower boundary of the downward channel. Likely, the price is now moving towards the upper boundary at $67K. However, cautious buyers may prefer to wait for confirmation with the price rising above $72-73K - the pivot area of the last four months - which would be confirmation of the start of a new impulsive wave of growth.

Bitcoin ended June down 8.5% to $61.9K. In terms of seasonality, July is considered quite successful for BTC, adding eight times (22.3% on average) out of the last 13 and declining on five occasions (-7.8% on average).

News background

In terms of on-chain analysis, quotes have crossed the realised price level of short-term holders at $62,000, which historically can act as support during corrections in bull markets.

According to Arkham data, German authorities sent another 595 BTC worth ~$36.6 million to crypto exchanges on 26 June. Authorities began actively moving the cryptocurrency on 19 June, when some of it first hit the Kraken and Bitstamp exchanges.

Bitwise forecasts net inflows into spot ETH-ETFs in the US of $15bn in the first 18 months. Bloomberg expects trading in the new product to start on 2 July.

Solana Foundation has launched tools that enable it to turn any website or app into a gateway for cryptocurrency payments and other blockchain transactions.

On 26 June, the Blast development team completed the first phase of an airdrop, distributing 17 billion BLAST tokens (17% of the total issuance). Blast is an Ethereum-based layer 2 (L2) network that was launched in November 2023 by Blur founder under the pseudonym Pacman. In terms of blockchain value locked (TVL), the Blast ecosystem is ranked sixth in the DeFi Llama ranking with a value of $1.58bn.

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Pop Culture/Streaming Entertainment

Top 10 Movies Streaming (United States)

1. The Kingdom of the Planet of the Apes (Hulu)

2. Deadpool 2 (Disney+)

3. Twister (Max)

4. Deadpool (Disney+)

5. Ghostbusters: Frozen Empire (Netflix)

6. Tarot (Netflix)

7. If (Paramount+)

8. Wicked Little Letters (Netflix)

9. Challengers (MGM+)

10. Abigail (Peacock)

Others

The Beekeeper (Prime Video)

Find Me Falling (Netflix)

My Spy: The Eternal City (Netflix)

*correct at time of publication

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Top 10 TV

1. House of the Dragon (Max)

2. A Good Girl's Guide to Murder (Netflix)

3. Presumed Innocent (Apple TV+)

4. Batman: Caped Crusader (Prime Video)

5. Time Bandits (Apple TV+)

6. The Decameron (Netflix)

7. The Bear (Hulu)

8. The Boys (Prime Video)

9. Mayor of Kingstown (Paramount+)

10. Evil (Paramount+)

Streaming Service

An online provider of entertainment (music, movies, multi-episode series, etc.) that delivers content over an Internet connection to the subscriber's computer, TV or mobile device.

Netflix, Amazon Prime, Binge (Australia), Kayo Sports (Australia), Hulu, HBO, Disney, ESPN Plus, Gaia, Passionflix, Spotify, Discovery, Peacock, Paramount Plus, Triller TV, UFC Fight Pass, WWE Network and Apple TV+ are examples of paid streaming services.

Examples of free services include Amazon ABC iView, Freedive, Free TV, Hoopla, Kanopy, Pluto TV, Roku Channel, Snagfilms, Sony Crackle, SBS On Demand, Tubi TV, VUDU and Xumo.

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Elon Musk’s X Files Antitrust Suit Against Global Advertising Alliance

August 6, 2024

Elon Musk’s social media platform X has launched a significant antitrust lawsuit against the Global Alliance for Responsible Media (GARM) and several of its member companies, alleging an illegal ad boycott that targeted the platform. The lawsuit, filed in Texas, is aimed at GARM, its parent firm World Federation of Advertisers (WFA), and members including CVS Health, Mars, Orsted and Unilever.

In an open letter to advertisers, X CEO Linda Yaccarino highlighted the reasons behind the lawsuit, stating that it was a direct response to GARM’s actions which allegedly cost the company billions of dollars. “This is not a decision we took lightly, but it is a direct consequence of their actions,” Yaccarino wrote. “The illegal behavior of these organizations and their executives cost X billions of dollars” per The New York Post.

The lawsuit is seeking trebled compensatory damages and injunctive relief, according to a complaint viewed by The New York Post. GARM, led by Robert Rakowitz, is an initiative of the WFA, which represents many of the world’s largest companies and ad organizations, including Disney and Coca-Cola. Its members control 90% of global marketing spending, nearly $1 trillion per year.

Yaccarino emphasized that the issue extends beyond financial damages. “This case is about more than damages — we have to fix a broken ecosystem that allows this illegal activity to occur,” she added.

According to The New York Post, the suit argues that the boycott undermined the marketplace of ideas by financially harming certain viewpoints over others. (Credit: PYMNTS)

Full article and coverage via PYMNTS

https://pymnts.com/cpi-posts/elon-musks-x-files-antitrust-suit-against-global-advertising-alliance/

PYMNTS is a former Media Man 'Business News Outlet Of The Month' award winner and finalist

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Elon Musk takes GARM, several companies to court over alleged advertising boycott of X outlined in bombshell report

August 7, 2024

Tech billionaire Elon Musk has taken several companies and an advertising alliance to court over allegations of a "boycott" of X.

Elon Musk has waged “war” against advertisers as his social media platform X filed an antitrust lawsuit against a global ad alliance and several major companies, accusing them of illegally boycotting the site.

X filed a suit in a federal court in Texas against the World Federation of Advertisers (WFA), the Global Alliance for Responsible Media (GARM) and its members CVS Health, Mars, Orsted and Unilever.

The suit comes after a report from the US House of Representatives Judiciary Committee found GARM and its members “directly organised boycotts” and employed other indirect tactics to target disfavoured “platforms, content creators” and news organisations to demonetise them.

It alleges that GARM’s boycott led advertisers to pull money from X under the guise of “brand safety” concerns.

X’s CEO Linda Yaccarino argued this tactic hindered users on the social media platform from accessing a wide breadth of ideas by funding alternative viewpoints.

“The consequence - perhaps the intent - of this boycott was to seek to deprive X’s users, be they sports fans, gamers, journalists, activists, parents or political and corporate leaders, of the Global Town Square,” she wrote.

“To put it simply, people are hurt when the marketplace of ideas is undermined and some viewpoints are not funded over others as part of an illegal boycott.”

Mr Musk shared his colleague’s statement to the platform and boldly declared: “We tried peace for 2 years, now it is war.”

He later encouraged “any company who has been systematically boycotted” to file a suit.

Following his post, video sharing platform Rumble joined Mr Musk’s lawsuit, claiming it has also been impacted towards GARM’s alleged skew away from right wing voices and ideologies.

The platform announced its move on X where it accused GARM of being “a conspiracy to perpetrate an advertiser boycott of Rumble and others, and that's illegal”.

Since Musk took over the social media platform in October 2022, X has suffered a serious dive in ad dollars with the platform taking in US$2.5 billion in 2023, according to Bloomberg.

This was down from the US$1bn it was bringing in every quarter of 2022.

Musk triggered controversy again in November 2023 when he endorsed an anti-Semitic conspiracy theory that Jewish communities push “hatred against whites”.

The X owner responded: “You have said the actual truth,” sparking an advertiser exodus that was reported to have lost the company as much as $75m, per The New York Times.

He made headlines again in the same month after blasting advertisers boycotting the social media platform, boldly declaring: “Go f**k yourself”.

“If somebody is going to try to blackmail me with advertising, blackmail me with money, go f**k yourself. Go f**k yourself. Is that clear? I hope it is,” he said. (Sky News Australia)

Full article and coverage via Sky News Australia

https://www.skynews.com.au/business/media/elon-musk-takes-garm-several-companies-to-court-over-alleged-advertising-boycott-of-x-outlined-in-bombshell-report/news-story/7bac6243aada770042d14ca84afc23e7

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August 7, 2024

Australian Dollar: $0.6520 USD (up $0.0024 USD)

Iron Ore Sep Spot Price (SGX): $102.85 USD (down $0.70 USD)

Oil Price (WTI): $72.96 USD (down $1.02 USD)

Gold Price: $2,389.45 USD (down $19.96 USD)

Copper Price (CME): $4.0095 USD (up $0.0085 USD)

Bitcoin: $56,485.71 USD (up 3.10% in last 24 hours)

Dow Jones: 38,997.66 at 5.02pm NY time (up 294.39 points on yesterday's close)

(Roy Morgan Summary)

Paramount+ to become an Official Partner of Formula 1 in a new multi-year deal

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August 2, 2024

News

U.F.C. Abu Dhabi Fight Card

The UFC event in Abu Dhabi on August 3rd, 2024, is generating significant discussion among fans and analysts. The main event features Umar Nurmagomedov against Cory Sandhagen, with Nurmagomedov being favored by many. The card includes other notable fighters like Deiveson Figueiredo, Marlon Vera, and Shara. Predictions and betting odds are being shared across social media, and Khabib Nurmagomedov is expected to be in Umar's corner. The event is free to watch on ABC Network, further enhancing its accessibility and viewership. Tony Ferguson has expressed his desire to continue fighting in the UFC, while other fighters like Figueiredo and Vera are also generating interest among fans. The event promises to be an exciting showcase of talent and competition in the world of mixed martial arts. (Grok)

News

UFC Abu Dhabi Event

The upcoming UFC event in Abu Dhabi on August 2, 2024, is generating significant buzz, featuring a main event between undefeated Umar Nurmagomedov and Cory Sandhagen. The event is free to watch on ABC Network and includes notable fighters such as Deiveson Figueiredo and Marlon Vera. The card also features Tony Ferguson, who has expressed his desire to continue fighting in the UFC. The event is anticipated to be a major one, with Khabib Nurmagomedov expected to be in Umar's corner. Betting predictions and discussions are prevalent across social media platforms, with various analysts and fans sharing their insights and picks for the fights.

News

Survivor Series: WarGames in Vancouver

WWE has announced that Survivor Series 2024 will be held in Vancouver, Canada, marking the first WWE pay-per-view event in the city since 1998. The event, featuring the WarGames match format, is scheduled for November 30 at Rogers Arena. This decision has sparked excitement among wrestling fans and local residents, with many expressing enthusiasm about attending the event in Vancouver. (Grok)

News

SummerSlam Predictions and Anticipation

WWE SummerSlam 2024 is generating significant anticipation among fans, with many expressing excitement and making predictions about the outcomes of various matches. Key discussions revolve around potential returns of prominent wrestlers such as Roman Reigns and The Rock, as well as the outcomes of matches like Cody Rhodes vs. Solo Sikoa and Liv Morgan vs. Rhea Ripley. The event is set to feature a variety of matches that fans are eagerly awaiting, including those involving LA Knight, Logan Paul, and Gunther. The overall sentiment is one of excitement and speculation, with fans looking forward to a thrilling event. (Grok)

News

Rampage Debuts for MxM & Private Party on AEW

All Elite Wrestling (AEW) is gearing up for an exciting lineup of events, including the highly anticipated All In event scheduled for August 25, 2024. The event is generating significant buzz among fans and is anticipated to surpass the success of the previous year's event. The card for All In features high-stakes matches such as Bryan Danielson putting his career on the line against Swerve, MJF facing Will Ospreay, and a tag team grudge match involving Darby Allin, FTR, and ROH Champion Sussex Co. Chicken against formidable opponents. AEW is also promoting other shows like AEW Dynamite and AEW Rampage, which feature matches like Hangman Page vs. Darby Allin and MxM Collection's debut against Private Party, respectively. The promotion is leveraging various platforms and media to engage with fans and build anticipation for these events. (Grok)

News

Crawford vs Madrimov: Pre-Fight Press Conference

Terence Crawford and Israil Madrimov are set to face off in a highly anticipated boxing match on August 3rd, as part of the Riyadh Season Card. The event, which will be available on PPV, has generated significant buzz among boxing fans and media. The undercard for the event is also noted for its quality, featuring a heavyweight bout between Andy Ruiz Jr. and Jarrell Miller, as well as other notable fights. The event is expected to be a major draw, with fans eagerly anticipating the outcome of the main event between Crawford and Madrimov. (Grok)

News

TNA Wrestling: Rascalz vs. Bailey, Seven & KUSHIDA

TNA Wrestling's iMPACT episode on August 1, 2024, featured a lineup of exciting matches and events. The show included a TNA World Title match between Nic Nemeth and Mustafa Ali, as well as the wedding of PCO and Steph De Lander. Other matches included The Rascalz in action against Mike Bailey, Trent Seven, and KUSHIDA in a six-man tag team match, Frankie Kazarian vs. Ryan Nemeth, and Jody Threat vs. Masha Slamovich. The event was broadcasted on various platforms including TNA+, AXS TV, DAZN, and YouTube, catering to a wide audience. Fans and wrestling enthusiasts expressed their anticipation and excitement for the event across social media platforms. (Grok)

ROH

Ring of Honor (ROH) is a professional wrestling promotion recently acquired by Tony Khan, CEO of All Elite Wrestling (AEW), Chief Football Strategy Officer of the Jacksonville Jaguars, and GM/Sporting Director of Fulham F.C. ROH has been holding events and television tapings, with notable developments including Sammy Guevara's return to help Dustin Rhodes against the Dark Order at the July 28th tapings. The promotion has been building new stars and continues to feature high-profile matches and events. (Grok)

News

WWE 2K24 Online Stability Hotfix

WWE 2K24 released Patch 1.14 to address online stability issues, which was automatically applied upon game loading. The update aimed to fix problems with the Pat McAfee Show Pack DLC for PS5 users, which was resolved, allowing the pack to be downloaded. However, the patch also caused issues with mods on PC, and some users reported problems with Titantrons in create an entrance and the unavailability of DLC for PlayStation 5 users. Despite these issues, WWE 2K24 encouraged players to participate in a giveaway for SummerSlam and provided a locker code for 7500 VC. (Grok)

Max Verstappen's Potential Mercedes Move

Speculation is rife about Max Verstappen potentially joining Mercedes, fueled by recent high-profile departures from Red Bull Racing. Despite the rumors, some fans express skepticism about the likelihood of such a move. The discussion also touches on the stability of other drivers' positions within their teams, with some questioning the rationale behind certain team decisions. Additionally, there is discussion about the performance comparison between Verstappen and his teammate, Perez, at Red Bull Racing. (Grok)

News

Wheatley's Move from Red Bull to Audi F1

Jonathan Wheatley, the long-serving sporting director at Red Bull Racing, is set to leave the team at the end of the 2024 season to become the new team principal of the Audi Formula 1 project. This move has been confirmed by Red Bull and widely reported across various Formula 1 news outlets. Audi has not officially commented on Wheatley's appointment, and there are indications that they were not expecting the announcement. Wheatley's departure marks a significant change in leadership for Red Bull and a notable acquisition for Audi as it prepares to enter Formula 1. The transition is expected to take place after the 2024 season, with Wheatley remaining in his current role until then. (Grok)

News

WWE NXT Great American Bash Week One

The WWE NXT Great American Bash kicked off with a series of exciting matches and events, including a WWE Women's Tag Team Championship match where Alba Fyre & Isla Dawn defended their titles against Jakara Jackson & Lash Legend. Other highlights included a NXT Women’s Championship match between Roxanne Perez and Thea Hail, a live concert by Joe Hendry, and a NXT Heritage Cup match between Tony D'Angelo and Tavion Heights. Fans and commentators expressed excitement and anticipation for the event, with many rooting for their favorite wrestlers and speculating on potential outcomes. (Grok)

News

NXT Women's Championship: Roxanne Perez Retains

Roxanne Perez successfully defended her NXT Women's Championship against Thea Hail in a highly acclaimed match at NXT GAB. The match was praised for its intensity and the young ages of the competitors, with both being under 23 years old. The event also featured other notable matches, including Joe Hendry expressing frustration with Gallus and a confirmed match between Joe Hendry and Joe Coffey for the following week. The overall event was well-received, highlighting the talent and potential of the NXT roster. (Grok)

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Bowlin Graham's Pocono Win Secures Playoff Spot

Graham Bowlin secured a spot in the 2024 eNASCAR Coca-Cola iRacing Series playoffs with a win at Pocono Raceway. Despite missing out on the playoffs, drivers from Spire Motorsports expressed pride in their team's efforts. Nick Ottinger also secured a playoff spot, marking the seventh consecutive season Team Conti has fielded at least one car in the post-season. The playoff lineup includes Steven Wilson, Parker White, Nick Ottinger, Graham Bowlin, Vicente Salas, Bobby Zalenski, Tucker Minter, Garrett Lowe, Dylan Duval, and Daniel Faulkingham. (Grok)

News

CM Punk's Top 5 Wrestlers of All Time

During an interview on ESPN's First Take, CM Punk named his top-5 wrestlers of all time, which included Harley Race, Terry Funk, Stone Cold Steve Austin, Eddie Guerrero, and initially Ricky Steamboat, but he later switched to Roddy Piper. This selection sparked discussions among fans and commentators, with some expressing surprise at the absence of Bret Hart from the list. Punk also highlighted Stone Cold Steve Austin as the biggest superstar in the industry. The interview took place ahead of SummerSlam 2024, which is set to occur in a few days, generating anticipation among wrestling fans. (Grok)

News

Cedric Alexander's NXT Victory

Cedric Alexander emerged victorious in a match against Brooks Jensen on the WWE NXT show. The win was unexpected by some fans and commentators, and it was celebrated by many on social media. The event also featured other matches and announcements, including a promo by Pete Dunne about his upcoming match with Trick Williams. (Grok)

News

UFC Abu Dhabi Event

The Ultimate Fighting Championship (UFC) is set to host a highly anticipated event in Abu Dhabi this Saturday, featuring a stacked card of fights. Notable fighters on the card include Tony Ferguson, Cory Sandhagen, and Mackenzie Dern. The event is free and open to the public, with a live broadcast on various platforms. Fans and analysts are discussing the matchups and sharing their predictions and betting tips for the fights. Cory Sandhagen is a key focus of the event, with many fans and analysts predicting a strong performance from him in his fight against Umar Nurmagomedov. (Grok)

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AEW Returns and Criticisms

The recent episode of AEW's Dynamite received mixed reactions from fans and critics, sparking discussions on various aspects of the show. Topics included the return of a star after a five-month absence, the company's approach to pushing certain talents, and comparisons between AEW and WWE. Some fans expressed disappointment in the show's content and booking decisions, while others praised specific moments and storylines. The discourse highlighted a range of opinions and critiques regarding AEW's current direction and its relationship with its audience and competitors. (Grok)

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AEW Collision Viewership Drop Amid Summer Events

AEW Collision viewership experienced a significant drop, averaging 383,000 viewers with a 0.12 P18-49 rating, marking a 19% decrease from the previous week. This decline was attributed to tough competition from the Olympics. Meanwhile, WWE's SummerSlam is generating anticipation, with fans expressing mixed feelings about the event and the potential outcomes for their favorite wrestlers. (Grok)

News

Grok Search: TNA Wrestling

Total Nonstop Action Wrestling (TNA) is an American professional wrestling promotion founded in 2002 by Jeff Jarrett and Jerry Jarrett. It is currently owned by Anthem Sports & Entertainment and is based in Nashville, Tennessee. TNA was initially known as NWA: Total Nonstop Action until 2004 when it rebranded to its current name.

TNA has been known for its innovative matches and storylines, and it has featured many notable wrestlers such as Kurt Angle, Sting, AJ Styles, Samoa Joe, and Jeff Hardy. The promotion has also been praised for its women's division, known as the Knockouts Division, which features some of the top female wrestlers in the world.

TNA has faced a number of challenges over the years, including changes in ownership and a decline in viewership. However, the promotion has continued to produce entertaining and innovative content, and it remains a significant player in the world of professional wrestling. (Grok)

News

Umar vs Sandhagen for Title Shot

Umar Nurmagomedov is set to face Cory Sandhagen at UFC Abu Dhabi, with the winner potentially earning a title shot against the victor of the Sean O'Malley vs Merab Dvalishvili bout. The event also features Tony Ferguson, who is looking to make a comeback. The fight card is generating significant interest and betting activity among fans and analysts. Additionally, there are discussions about potential matchups for Shakur Stevenson, including a verbal agreement for a fight with William Zepeda, although no official agreement has been reached yet. The event is also notable for Khabib Nurmagomedov's involvement in Umar's corner. (Grok)

News

Ruiz vs Miller: Boxing Showdown in Riyadh

On August 3, 2024, a significant boxing event is set to take place featuring several high-profile matches. The main event includes a face-off between Andy Ruiz and Jarrell Miller, which has garnered significant attention and anticipation. Other notable fights on the card include a matchup between Isaac Pitbull and Jose Valenzuela, which is expected to be a highlight of the evening. Additionally, the event features the return of Andy Cruz against Antonio Moran, adding to the excitement. The event is part of the Riyadh Season and will be broadcasted on ESPN Plus PPV. (Grok)

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Russell Disqualified, Hamilton Wins Belgian GP

Lewis Hamilton was declared the winner of the Belgian Grand Prix after his teammate George Russell was disqualified for having an underweight car. Russell initially crossed the line first but was stripped of his win due to the technical violation. Hamilton's victory marked his second win in three races, sparking discussions among fans and commentators about the nature of his win and Russell's performance. The disqualification also led to Oscar Piastri being promoted to second place, and Charles Leclerc finishing third for Ferrari. (Grok)

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F1 Drivers Pole Positions and Race Outcomes Debate

In recent Formula 1 races, Charles Leclerc has been praised for his ability to secure pole positions and maintain leads in a slower car, contrasting with Lando Norris's performance in a faster car. Max Verstappen has consistently performed well, often starting from lower positions and finishing higher, despite debates about the relative performance of his car. The current season is highly competitive, with several drivers from different teams closely competing in points, highlighting the tight competition in Formula 1. (Grok)

News

US Women's Rugby Wins First Olympic Medal

The United States women's rugby sevens team won their first Olympic medal, a bronze, in a dramatic match against Australia at the 2024 Paris Olympics. The victory was sealed by a last-minute try and conversion by Alex Sedrick. Meanwhile, Simone Biles led the United States to a dominant victory in the women's gymnastics team final, securing her fifth career Olympic gold medal and becoming the most decorated U.S. Olympic gymnast in history with a total of 8 medals. (Grok)

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Showbiz News from Hollywood; Screenwriters reach tentative deal with studios to end strike

The show must go on - eventually, anyway! With or without a dash of AI et al.

The Writers Guild of America, which represents thousands of Hollywood writers, advised Sunday PM that it has reached a tentative agreement on a new contract with the major entertainment studios, paving the way to end the 146-day strike that has brought television and film production to a standstill. That's right - 146 days! That's some kind of record.

"The WGA and [Alliance of Motion Picture and Television Produces] have reached a tentative agreement," according to an online WGA statement that discloses that more details will follow after the contract language has been finalized...ink had dried, you know the drum.

Though the AMPTP trade alliance of major film and television producers has yet to comment on the development, WGA described the contract to members in a letter as "exceptional." It contains "meaningful gains and protections for writers in every sector of the membership," it said.

The roughly 11,000 writers were demanding "economic fairness," streaming-service residuals and regulation on the use of AI (artificial intelligence) - take that, you bots!

"What we have won in this contract ... is due to the willingness of this membership to exercise its power, to demonstrate its solidarity, to walk side-by-side, to endure the pain and uncertainty of the past 146 days. It is the leverage generated by your strike, in concert with the extraordinary support of our union siblings, that finally brought the companies back to the table to make a deal," it said.

The language of the contract was being finalized, it said, with guild members to vote on whether to accept it in the coming days.

Union members are being advised that "no one is to return to work" unless specifically authorized by the guild.

"We are still on strike until then," it said, though it was suspending picketing.

The Hollywood writers went on strike early May after negotiations with the studios and streaming services fell through, following six weeks of talks, which brought a halt to television productions.

Many insiders as well as regular consumers of streaming media shows and other had noticed a dive in overall quality.

In mid-July, the Screen Actors Guild-American Federation of Television and Radio Artists joined the movement, shutting down any active studio productions.

The deal announced late Sunday does not mean the resumption of Hollywood productions, as SAG-AFTRA members remain on the picket lines, and WAG is encouraging its members to join in the actors' fight.

SAG-AFTRA issued a statement congratulating WGA on the deal it said it would review.

"We remain on strike in our TV/Theatrical contract and continue to urge the studio and streamer CEOs and the AMPTP to return to the table and make the fair deal that our members deserve and demand," it said.

The agreement was reached following a recent breach in a stalemate in negotiations, which began about mid-August.

The two sides were quiet until Sept. 14, when they said they had agreed to return to the negotiating table, and they have been hashing out a deal since Wednesday.

"After a nearly five-month long strike, I am grateful that the Writers Guild of American and the Alliance of Motion Picture and Television Producers have reached a fair agreement and I'm hopeful that the same can happen soon with the Screen Actors Guild," Los Angeles Mayor Karen Bass said in a statement.

"Now, we must focus on getting the entertainment industry, and all the small businesses that depend on it, back on their feet and stronger than every before."

The strike, which has waylaid productions for months, has hurt the bottom line of studios, with Warner Bros. Discovery telling the Securities and Exchange Commission earlier this month in a filing that the strikes have "negatively impacted" the company by a cost of up to $500 million. Some folks in and around the biz are pleased that that likes of a somewhat "woke and broken" Disney had lost so much money.

Under the watercooler Media heard, "More about fairness, distribution of funds, and a fair days pay for a fair days work. We showed the world and this script kind of wrote itself"!

If 99pc of start-ups fail, how do AirTree and Blackbird make money?

Starting an ambitious technology company is undeniably hard, but fresh data suggests failure rates aren’t as high as parts of the industry say.

On a darkened screen, a line of text lays out the stakes for The New Hustle, a 2017 documentary series: “Over 92 per cent of start-ups fail. What separates those who don’t?”

Six years later, the production company behind that feature, Founder Films, was back with a new documentary series called Founder on the same topic. This time, the odds seemed to be stacked even higher against start-up founders. “Ninety-nine per cent of start-ups fail,” the on-screen text from the documentary reads.

Apparently, those six years were a grim time for start-ups, whose founders were portrayed as valorous figures surmounting almost impossible odds. Yet between 2017 and early 2022, start-up funding soared in Australia, giving even questionable firms war chests of cash to sustain their dreams for years.

Statistics requested by The Australian Financial Review from the country’s biggest tech venture investors suggest many more start-up companies are staying afloat than the most heightened founder mythology suggests.

The disparate figures reflect an industry that does not have a uniform definition of failure even as commentators contend that failure is discussed too harshly, or too much, or not enough. And they show how failure rates are deployed to either showcase investment performance or valorise founders.

Startmate, the long-running accelerator, has reported that 63 per cent of the more than 230 companies it has a stake in are still active. AirTree Ventures, the large Sydney-based fund that was founded in 2014, said its failure rate – defined using the fairly common rule of investments where it has got back less than it invested – is lower than 20 per cent. Company closures in its portfolio are even lower, at less than 3 per cent.

Blackbird Ventures, meanwhile provided data from its first fund, raised in 2013, where 25 per cent of the companies have closed down, compared with the same number of exits and 10 that are still operating. Square Peg, the third major Australian venture fund, did not make any data available.

Better than regular businesses

Those start-up failure rates compare fairly favourably to the economy as a whole. For the past four years, failure rates for all Australian businesses with staff have hovered around 8 per cent, according to data from the Bureau of Statistics.

But unlike small-business investors who want to preserve capital and grow slowly, venture capitalists bet on a host of companies hoping a small percentage will become enormously valuable in the knowledge many will fail.

That has led some start-up industry figures such as Finder founder Fred Schebesta to argue some high-profile failures should be celebrated to avoid discouraging founders.

James Alexander, a partner at early-stage investor Galileo Ventures, said he did not support the idea of “celebrating” failure, though he acknowledged that founding a business, whether small business or start-up, was very hard.

“Do I think failure is positive? No, I don’t,” Mr Alexander said. “I don’t think [failures] are positive, but I don’t think they’re anywhere near as bad as people make them out to be.”

Mr Alexander’s portfolio has four failures, defined as firms shut down or sold that returned less than invested capital, out of 18 bets. But he said that if one of those surviving companies became a super valuable firm akin to Google, “No one’s going to mind if we lose money on five, 25 or 30 per cent of the investments or even more.”

Founder Films, owned by the founder of $2.7 billion start-up SafetyCulture Luke Annear, declined to comment on its figures, but a spokesman pointed to a 2012 Wall Street Journal article reporting Harvard research that 95 per cent of start-ups fail to hit projected figures. The 92 per cent failure rate number is also all over the internet, with the figure derived from a 2011 report by an organisation called Startup Genome that no longer appears online.

Mr Alexander said that high failure rate figures were a reflection of the way venture firms sought out exceptional results.

“When people throw out these things like ‘90per cent of businesses fail’, I think usually they mean 90 per cent of businesses never become big,” Mr Alexander said.

Murray Hurps, who runs the industry survey project Startup Muster, did not provide data on failure rates because the varying definitions make it hard to collect. But he said that average failure levels were not as useful as understanding the proposition of investing or building an individual firm.

“There are many kinds of lower risk, technology-enabled entrepreneurial pursuits that entrepreneurs should be considering, and more today than there ever were before,” Mr Hurps said.

What Lachlan Murdoch told fundies in Sydney two weeks ago - September 23, 2023

Lachlan Murdoch’s been in and around Australian business circles for most of his working life, but had little to do with the country’s big investors. Until a few weeks ago.

A couple of weeks ago, Lachlan Murdoch, 52, broke cover with Australia’s investor ranks.

Not one to normally front Australia’s fund managers on roadshows, Murdoch was the headline attraction at a small and private dinner held only a few kilometres from his home in Sydney’s inner-east.

The small crowd were all fund managers – big name stock pickers from the larger institutional equities shops in Sydney – most of who had little to do with Murdoch or his father Rupert over the years, and some of who had never met him despite him being in and out of Australian business circles his whole working life.

Murdoch spoke off the cuff. There were no notes or powerpoint slides, no script and no minders, just an update on the family’s two businesses News Corporation and Fox Corporation, and where he wanted to take them.

Perhaps playing to the small crowd, he repeatedly stressed he was 100 per cent focused on creating shareholder value, according to those at the dinner. It was a friendly crowd; money is the name of the game in funds management, and fund managers tend to bow down to billionaires. He was valued at $3.35 billion on this year’s AFR Rich List.

He was clearly proud some of the investments he had overseen – high growth and conviction bets like News Corp’s $13 billion stake in REA Group, student loans business Credible and streaming business Tubi Corporation for example – and gave the impression of a hands-on and pretty passionate senior executive.

He travels back to US head office every second week from his home in Sydney, where his children go to school. When he’s in Sydney, he tends to work New York hours. That’s the sort of stuff that top Sydney money managers are glad they do not have to worry about.

There were no hints about what was to come and fund managers left the dinner not knowing that only a few weeks later, Murdoch would finally get the keys to his father Rupert’s News Corporation.

He was announced as News Corp’s executive chairman on Thursday night, the same role he holds at sister company Fox Corporation, while his 92-year-old father would step off the board and become chairman emeritus of both companies.

Changing of the guard

Lachlan Murdoch’s succession may end a tumultuous 12 months for the family’s two companies. This time last year, the Murdochs were planning to reunite their News Corp and Fox businesses, calling it the next logical step of the strategy that led the media billionaires to sell entertainment giant 21st Century Fox to Disney in 2017 for $US52 billion.

It was about bringing together live sport and news, two things that consumers want immediately and are arguably less discretionary than TV entertainment and movies – but the deal was off a few months later called “not optimal for shareholders of News Corp and Fox at this time”.

In reality, it also faced considerable backlash from investors including Sydney-based Airlie Funds Management, who didn’t want to see News Corp combined with Fox. News Corp owns the company’s stake in REA and Move in the United States, Foxtel in Australia, Dow Jones and HarperCollins, among other businesses, and trades at a significant discount to its asset backing.

Soon after, it also abandoned talks to sell its US digital real estate business Move for about $US3 billion ($4.4 billion).

Murdoch’s comments from the dinner were ringing through those fund managers’ heads on Friday, as they tried to work out what it meant for the future of the family’s media empire.

It was a timely introduction to a man who’s well known in media circles – there are plenty of former News Corp executives who’ll give their two cents worth and recount fronting him when they hadn’t made budget or wanted money for something – but less in local markets.

Those close to him say he’s been fronting investors in the US for a while, just not Australia. Fox Corp isn’t listed in Australia, while News’ ASX-listing is small.

One thing that stuck in the Australian fund managers’ heads were Murdoch’s remarks about M&A.

He said large media sector deals were hard to get past the antitrust regulator in the United States – which is similar to deals in every concentrated sector (banking, energy, tollroads) in Australia.

So, investors are thinking there is unlikely to be any giant strategic pivot in the near to medium term, at least, although are fully aware that deals (big and small) have been a big part of the family business under Rupert Murdoch and Lachlan has been at the table for plenty of them.

“Evolution not revolution” is how his backers were putting it on Friday, pointing out that he’s done a long apprenticeship under his father at News Corp and has been Fox executive chairman since 2105 (it was 21st Century Fox before a $US50 billion sale of its film production business to Disney) . It is still all about news, sport and digital, and looking forwards not backwards.

Closing the gap in value

The ASX-listed shares were up 1.9 per cent to $32.25 in Friday afternoon trade.

Murdoch junior’s most notable was paying about $10 million for a 44 per cent stake in realestate.com.au (later REA Group), following a direct approach from Sydney real estate agent and company director John McGrath, while others for the company include Credible, where loans are up three-times since News Corp’s acquisition, Tubi, which has tripled subscribers.

Of course, it has not been all winners. He’s still remembered for One.Tel, a telecommunications company that collapsed in 2001, and Channel Ten owner Ten Network Holdings, which went into administration in 2017. News Corp’s betting play is also in trouble.

One of his loudest supporters in Australian markets is Sydney stockbroker Angus Aitken, who is known for backing family-led businesses and was quick to tell clients that News Corp was in good hands.

“Lachlan Murdoch has the same entrepreneurial genes as his Dad and has zero to prove, he already has proved himself in spades,” he said in a 1400 word note to fund managers that hit inboxes as the sun rose over Sydney Harbour.

“Anyone who has heard Lachlan talk about these businesses knows he knows these businesses inside out and knows how to allocate capital and back people within these firms with that capital for the long term.”

He said Rupert Murdoch had turned a three-paper tiddler into $US100 billion of assets, if you add the market capitalisations of News and Fox (about $US30 billion) and some of the big asset sales (c$US70 billion). “It is hard to think of anyone who will replicate that in life.”

Lachlan Murdoch will likely struggle to create anywhere near that much value, but he also doesn’t have to. Investors will be happy enough if he can close the discount between New Corp’s share price and asset value – which funds like Melbourne’s L1 Capital have talked about for years. That discount was so glaring that stockbroker UBS for a while was putting out a regulator News Corp note, pointing out the difference between the sum of its parts and share price.

The bigger news on Friday was the end of the Rupert Murdoch-era, after a career stretching seven decades. Lachlan’s ascension to the top of both companies was telegraphed by his father in the past few years. Second son James moved to the fringes of the family business after the Fox/Disney deal in 2019.

'Take it over’: Perth lands WWE’s first Aussie event in six years - September 23

One of the world’s biggest sporting organisations is coming back to Australia for the first time since taking over the MCG in 2018.

The WWE will return to Australian shores for the first time since 2018 in February after the Elimination Chamber event was announced for Perth’s Optus Stadium.

After months of speculation, the sports entertainment behemoth announced that the 60,000 seat stadium would host the live event on Saturday February 24.

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The last time the WWE came down under was in 2018 when the Super-Show Down took over the MCG with Ronda Rousey stunning a packed house before Triple H pinned The Undertaker.

In the meantime, Aussie Rhea Ripley has become one of the sports’ biggest names and is expected to star as the WWE comes back to Australia, while Grayson Walker is also a near certainty to fight.

While the schedule has not yet been released, it will culminate in at least one six-man cage match with some of the promotion’s biggest names set to visit just one month out from WrestleMania 40.

Wrestlers Kofi Kingston and Xavier Woods joined WA Premier Roger Cook for the announcement.

“These are set to be the hottest tickets in town and fans can pre-register and secure their spot from today,” Cook said.

“We expect the premium live event at Optus Stadium will be a sellout with thousands of east coast and international fans flocking to Perth, Western Australia to witness this exclusive show.”

The show is expected to reach an audience of one billion people worldwide and Kingston, who is one of the members of The New Day alongside Woods and Big E, said the Elimination Chamber could “totally change the trajectory of whatever is going on in the WWE landscape”.

“Two combatants enter and there are four pods with the other combatants within them,” Woods added.

“As time passes, one of those pods will open until all of their combatants are inside of the ring.

“And then the match officially begins and you lose by pinfall or submission until there is one combatant standing and they are the winner.

“And the reason that this is so intense is because you are waiting for people to get into this match.”

The wrestlers involved are expected to have community activations and meet-and-greets with fans, and Kingston said they “really come into a town and take it over”.

The WWE has recently merged with the UFC, which had a massive show earlier this year in Perth when Alexander Volkanovski lost a controversial bout to Islam Makhachev for the lightweight title.

Expend4bles

A new generation of stars join the world's top action stars for an adrenaline-fueled adventure in Expend4bles. Reuniting as the team of elite mercenaries, Jason Statham, Dolph Lundgren, Randy Couture, and Sylvester Stallone are joined for the first time by Curtis "50 Cent" Jackson, Megan Fox, Tony Jaa, Iko Uwais, Jacob Scipio, Levy Tran, and Andy Garcia. Armed with every weapon they can get their hands on and the skills to use them, The Expendables are the world's last line of defense and the team that gets called when all other options are off the table. But new team members with new styles and tactics are going to give "new blood" a whole new meaning.—Lionsgate

The Unbreakable Bunch

An Alien Force Came To Conquer - They Had No Idea This Bunch Was In Town.

Producers Ray “Glacier” Lloyd and Steve Luther Wilson, aka “Big Sexy” Luther Biggs, trained at the Power Plant and broke into the business about the same time. A decade ago, the two started talking about a movie.

“We had this idea,” says Lloyd, “What if a bunch of pro wrestlers had to step out of their wrestling world and into a fantasy world where they have to battle aliens?”

“We’re both big fans of The Magnificent Seven, The Wild Bunch, The Dirty Dozen, and The Professionals. They were all ensemble casts, and most of them were somewhat diverse. We thought, ‘What if we could make a movie like that and celebrate the wrestling business?’”

Most wrestling movies either focus on the dark side, or they go for the campy humor,” says Lloyd. “They make movies like The Wrestler, which was very good and yes, that is how some guys turn out. Or they make fun of wrestling and wrestling fans. We wanted to celebrate what’s great about being a wrestling fan and what’s fun about the business without making fun of it. We didn’t think that anyone else was going to make a movie like that, and even if they did, they probably wouldn’t get it right.”

“The story changed a lot from that first draft, but we tried to stay true to the essence of the characters and what they stood for,” explains Lloyd.

Ernest “The Cat” Miller

Stan Hansen

Tonga Uli’uli Fifita, aka Haku, aka Meng

Larry Zbyszko

Diamond Dallas Page

David “Gangrel” Heath.

“An ensemble cast like this has never been done in a wrestling film.” says Lloyd. “We also worked with some great actors we cast in the non-wrestling roles. Nicholas Logan did a tremendous job in our movie, and he’s had some great roles before and after The Unbreakable Bunch. I’m excited to see where his career goes.”

“These are men like us who have their life together,” says Lloyd. “They have good jobs, a nice home. You also see how these guys come together to put on a show. It’s a team effort, whether it’s for one night or a tour. Then they all go their separate ways. That’s something we’ve never seen in a movie about wrestling, and we wanted to portray that.”

“Wrestling is at its best when everyone can enjoy it,” says Lloyd. “A lot of the fans I meet at shows and convention are grown ups who were kids when I was first on TV. Now they’re bringing their kids because they want the next generation to enjoy wrestling like they did. There’s definitely some action, but we kept it to a PG or PG-13 level. We really want families to enjoy this picture, even if they don’t watch wrestling.”

“We want this movie to be something that wrestlers and wrestling fans will be proud to recommend to people,” says Lloyd. “At the end of the day, it’s about camaraderie, loyalty, friendship. It’s about the noble side of professional wrestling.”

WWE Hall of Famer Larry Zbyszko via aQ&A on AdFreeShows.com. In addition to taking fan questions, he also talked about the movie, “The Unbreakable Bunch” that Ernest Miller, himself, and several other wrestlers are in:

"Ray Lloyd, Luther Biggs, had been working their butts off for some years to get this movie going. They wrote it, and then they had to get financed. At the end of 2009, we filmed it and it really came out great. I mean, it's a movie about wrestlers saving a town from aliens, but it's not a wrestling movie. It's kind of a science fiction action movie with emotion and you'll find yourself laughing when you don't expect to. I mean, it was really well done. It's a family friendly movie. Nothing dirty, nothing raunchy. I mean, if you're not a wrestling fan, you're gonna love it too because it's not about wrestling. But it was really well done. I've been dying to see it. As soon as we finished it, like at the end of 2019 right before Christmas, a couple of months later this stupid COVID hit and slowed it down a little bit with the editing, but there was the guy alone editing in the booth. So it's finally all done with the editing and the sound and the music and the special effects, and I hear it's going to come out October 13th. I can't wait to see it."

Zbyszko talking about two movies he should have been in:

"I should have been in two big movies. I'll tell you a story quickly. Alright, 1976 or something I was wrestling in California a little bit. I was wrestling a man and I got a message to talk to some producer in the audience. So after the match, I went to talk to this guy. He said, 'Hey, I'm making my first movie. It's a low budget movie, but I'd like to have you in it because I like the way you look and move.' So I said, 'Okay.' So I went down to his office which turned out to be a crap hole and got a script and read it and I'm going, oh my God. Three weeks in the desert shooting this movie for hardly any money for the guy's independent little movie. It's eating babies and stuff. I said, 'Oh God.' So I nicely told the guy I couldn't do it. I was busy. It turned out the guy's name was West Craven and it was his first movie, 'The Hills Have Eyes.' It became a classic and I'm supposed to be it."

"Then some years ago in like the mid 80s or something. I got a message at the NWA office to call Jerry Reed. I'm thinking Jerry Reed? The only Jerry Reed I know is the country western singer, unless it's Jerry Reed the IRS guide. So I call this number and it's Jerry Reed the singer. He says, 'Son, you're my favorite guy.' We talked and he wanted me to be in the last Smokey and the Bandit movie they were going to make because Jackie Gleason just died and they wanted me to play the part of a young a**hole sheriff after the bandit in the last movie. But right when they were going to do the last movie, that's when Burt Reynolds went off the deep end taking all the Halcyon pills and getting divorced from Loni and getting wiped out, so they never made the movie. So I was supposed to be in the Hills Have Eyes and the last Smokey and the Bandit never happened, but The Unbreakable Bunch, I'm in like the whole movie and I can't wait to see the thing."

AEW WrestleDream - October 1, 2023

Broadcast into Australia via FITE

Bryan Danielson vs. Zack Sabre Jr.

Hangman Page vs. Swerve Strickland

AEW Tag Team Champions FTR defend against Aussie Open

ROH Tag Team Champions Adam Cole & MJF defend against The Righteous (Vincent & Dutch)

NJPW Strong & ROH World Champion Eddie Kingston defends both titles against ROH Pure Champion Katsuyori Shibata

TNT Champion Christian Cage defends against Darby Allin in a two out of three falls match

TBS Champion Kris Statlander defends against Julia Hart

Will Ospreay, Konosuke Takeshita, and Sammy Guevara vs. Kenny Omega, Kota Ibushi, and Chris Jericho

Additional matches have been added to next Sunday's AEW WrestleDream card.

Don Callis on Saturday’s Collision revealed that Will Ospreay will team with Konosuke Takeshita and his newest family member Sammy Guevara against Kenny Omega, Chris Jericho, and Kota Ibushi. This stems from events that took place on Friday’s Ramapge, where Omega made the save for Jericho after Guevara and Takeshita jumped Jericho.

In addition, Christian Cage will defend the TNT title in a two out of three falls match against Darby Allin. On Saturday’s Collision, Allin had a three-way title match won between himself, Cage, and Luchasaurus when Cage posted Allin, allowing himself to pin Luchasaurus. In a backstage interview, Tony Schiavone told Cage he would be defending the title at WrestleDream.

Eddie Kingston in a promo revealed that he will be putting up both the ROH and New Japan Strong titles against Katsuyori Shibata at WrestleDream, saying that he wanted a match that would honor Antonio Inoki.

WWE PPVs

Saturday, Oct. 7

WWE Fastlane

Indianapolis

WWE Crown Jewel 2023

November 4, 2023

Riyadh, Saudi Arabia

Saturday, Nov. 25

WWE Survivor Series

Chicago

WWE Survivor Series 2023

November 25, 2023

Rosemont, Illinois (Chicago) - Allstate Arena

Lachlan Murdoch inherits a daunting to-do list. Observers are divided over how he will cope -23rd September 2023

First among equals is how media mogul Rupert Murdoch once described his eldest son Lachlan, when asked about the succession plan at his global media empire. Now with Rupert’s retirement this week from the boards of Fox Corporation and News Corporation, Lachlan’s position at the top of the family-controlled empire is cemented.

However, 52-year-old Lachlan inherits a daunting task. He takes control of the global newspaper and television businesses as both face major challenges. He becomes head of one of the most influential American media companies as the US goes into perhaps its most important presidential election in recent history. And, his every step will be measured against his father’s legacy.

Former News Corporation executive John Cowley has no doubt that Lachlan is up to the task. “He was trained by the best. His father would have rubbed off on him, but he’s also his own man. He will do a good job,” Cowley said.

Lachlan’s first real job in the Murdoch empire was working for Cowley. It was three decades ago, when at the age of 22, he joined Queensland Newspapers as its general manager. Fresh from having studied philosophy at Princeton University, the young Murdoch would walk the newsroom floor with his shirt sleeves rolled up – exposing a tribal tattoo on his left arm – discussing stories with journalists, much as his father had once done.

Over seven decades, Rupert Murdoch, 92, built a global media empire from a single Australian newspaper. As his business expanded so did his influence and he became one of the world’s most powerful, polarising and right-wing businessmen, owning outlets such as Fox News, the Wall Street Journal, The Times, and The Australian.

R?upert pitted ?Lachlan from an early age against two of his siblings, older sister Elisabeth and younger brother James, to take over the family empire. ?

Lachlan, Elisabeth and James would come and go from the family business, vying for their father’s affection and at times falling out with him. But it would be Lachlan who would return to the fold and stay.?

The Murdoch family governs News Corporation and Fox Corporation through a family trust. Rupert has six children from three wives. The family trust owns almost 40 per cent of the voting shares in both companies.

Each of Murdoch’s children know how difficult it is being the progeny of a successful parent. Put simply, if the adult children of successful parents make good, it’s because of what their parents left them. If they don’t, people ask what’s wrong with them.?

This is what Lachlan is up against, even in his middle age.

Billionaire James Packer can sympathise, as he spent most of the first half of his life being compared against his father – the late media tycoon Kerry Packer.

James multiplied the wealth he inherited from his father. But then his publicly listed Crown casino business became embroiled in a Chinese money-laundering scandal. It was fined, and he sold it, and since then, has focused on private investments.

“Lachlan will do very well. He’s following in a legend’s footsteps, one of the biggest, being Rupert, and that’s never easy,” says Packer, who has been friends with Lachlan for more than three decades. “But I think Lachlan’s ready, and he’s the right man for the job.”

Not everyone agrees.

Rod Tiffen is an emeritus professor at the University of Sydney, who has published books on the news media, including about Rupert Murdoch. He’s critical of Lachlan’s rise to the top of News Corporation and Fox Corporation.

“The idea that a position like that should go by heredity belongs more in the age of Jane Austen than of the contemporary corporate world,” Tiffen says. “It might be okay for the corner store to pass from father to son, but a global corporation should be based on some sort of merit, and not just having the same surname.”

Lachlan becomes chair of News Corporation, which owns newspaper and real estate assets, and also the chair and chief executive of Fox Corporation, which owns Fox News and Fox broadcasting.

In 2019, Fox sold its $US71.3 billion film and television business to Walt Disney, predicting the streaming war that is now playing out, and which has cost companies such as Disney, Netflix and Amazon billions. It was a clever move hailed as Rupert’s crowning achievement.

However, it has left Fox much smaller than many of its peers, with a focus on news and sport. The broadcast and cable TV outlets in the US are declining, and Fox is also competing against bigger players such as Amazon, Netflix, Comcast, Disney and Warner Brothers in securing sporting rights.

The embattled news arm was also sued after broadcasting conspiracy theories and claims of vote rigging promoted by Donald Trump in the 2020 election. Earlier this year, Fox settled a defamation lawsuit with Dominion Voting systems for $US787.5 million ($1.2 billion). It is now facing another lawsuit from a voting machine manufacturer, Smartmatic, which is likely to be at the top of Lachlan’s to-do list to resolve.

?Another problem for Lachlan is that Donald Trump is shaping up as the most likely Republican candidate for the 2024 election, if he’s able to overcome the legal cases that he is facing.

However, it would be hard for Fox News to back him given Rupert has publicly criticised Trump and disowned him.? And yet, much of the Fox News audience are Trump supporters. Fox News will risk alienating its audience more if Trump becomes the Republican candidate, and it doesn’t back him.

News Corporation has real estate assets such as REA Group and owns newspapers such as The Times, The Australian and the Wall Street Journal. The print assets are declining while the digital side of those newspapers has been growing, particularly the Dow Jones group in the US.

Matt Williams is head of Australian equities at Airlie Funds Management. It owns 2 per cent of the voting shares in News Corporation, which he argues remains undervalued. “Over the last ten years management have done a very good job with the Dow Jones business in re-aligning the business from being reliant on advertising to much more now a subscription-based business.”

He says Lachlan has been a good steward of News Corporation, and expects the strategy of that group to remain unchanged.

However, Tiffen expects there will be pressure to shut print newspapers when Rupert dies. “Everyone rightly goes on about what a terrific global media empire Rupert Murdoch has built. On the other hand, if you were writing his obituary now, you would say that he’s lost more money on newspapers than anyone else in history. And chances are that won’t continue after he dies.”

Tiffen expects that Lachlan will not make any significant changes to either Fox Corporation or News Corporation’s strategy while his father remains alive. “It’s much more likely that any changes will have to be after Rupert’s death, and then it’s quite unpredictable.”

The unpredictability is over whether Lachlan’s siblings who have voting rights in the trust – Prudence, Elisabeth and James – will be happy with his leadership of Fox Corporation and News Corporation, and the right-wing agendas they have pursued.

“In the short term, while Rupert’s alive, the other three children are going to be respectful,” says Tiffen. “But after he dies, then Lachlan’s relations with his other siblings will be much more difficult to predict.”

(SMH)

Rear Window - September 14, 1999

Kostya, TAB go down fighting

It had more celebrities than a Saturday night in Atlantic City. In one corner, "Break Even" Bill Mordey; in the other, Russian-born dynamo Kostya Tszyu and a gaggle of heavy-hitters including Packer confidant Theo Onisforou and Jeff Fenech.

Mordey won round one when NSW Supreme Court Justice Russell Bainton last year ordered Tszyu to pay $7.3 million to Mordey's Fightvision Pty Ltd for breach of contract, in the process describing the Russian-born boxer as a "spoiled brat".

Yesterday, round two ended with a TKO to Break Even, who managed to deliver a haymaker to TAB boss Warren Wilson. Having bought Sky Channel from Packer's Publishing & Broadcasting and Rupert Murdoch's News Corp last year, TAB will now have to partially foot a $7.3 million damages bill after three appeal judges found Sky Channel had induced Tszyu to breach his contract with Mordey.

Sky Channel will have to pay the costs of Fightvision's original claim against Sky Channel and its appeal in a result Wilson said was disappointing. TAB is considering whether it has any further legal avenues.

The stoush began when Tsyzu appealed against last year's decision, claiming the damages awarded against him were excessive. That prompted Mordey's counterpunch, appealing against the cases he lost to the other five defendants: Fenech, Sky Channel, Onisforou, Tszyu's new promoter, Vlad Warton, and Tszyu's company, Tszyu Enterprises.

The NSW Court of Appeal yesterday dismissed Tszyu's appeal. Mordey had a victory against Sky Channel, Warton and Tszyu Enterprises, but struck out against Onisforou and Fenech. Warton and Tszyu Enterprises will be back for a third round after the court ordered a new trial in relation to Mordey's claims.

Mordey and Fightvision had sought compensation from Tszyu for lost promotion revenue after the fighter breached his contract in early 1995 by agreeing to give Optus Vision or Sky Channel exclusive rights to broadcast his bouts.

In his judgement, Justice Bainton found Tszyu entered into a binding three-year contract with Mordey's Classic Promotions in 1992 and that contract contained an option of renewal for two years. The company wound up in 1993 and Fightvision took over its promotions.

Justice Bainton found that the renewal option in Tszyu's contract had been effectively exercised in January 1995, and that the boxer had broken that contract almost immediately.

Fightvision was entitled to recover from Tszyu profits it would have made from promoting his fights from January 1995 to January 1997 in total $7.3 million.

Room with a view? Er, I'll settle for the ground floor, thanks all the same

While travelling always presents its challenges, Rear Window's Tasmanian tourism operative appears to have struck an unusual problem while cycling through the Apple Isle.

During a bracing journey down the Midland Highway from Launceston to Hobart, our peleton wanabee sought refuge at a cosy bed and breakfast in the hamlet of Campbell Town, where the civic motto is: "Reaching out across the land, over the sea, through the air, towards the stars, Campbell Town is reaching out to you."

Noting the prominent "Vacancy" sign, our operative entered, only to be told by the landlady: "Sorry, we have no vacancies."

But what about the sign? "We haven't got around to making a `No Vacancy' sign yet. Getting the floors fixed comes a long way ahead of a `No Vacancy' sign in our priorities."

We'd advise getting a room on the ground floor.

Rupert shows UK interest but his ratings keep falling

Not content with wading into the murky world of Chinese-Tibetan relations, Rupert Murdoch has turned his hand to matters economic.

Murdoch has attacked the Bank of England in the wake of last week's surprise decision to lift British interest rates, expressing dismay that the central bank should be worried about the United Kingdom's 1.5 per cent economic growth when "the US economy is charging along at 4 per cent with no sign of inflation".

In an interview with London's Sunday Business newspaper, Murdoch also attacked UK Chancellor of the Exchequer Gordon Brown, claiming Brown was "wrong" to give the BoE the power to determine interest rate policy one of the central tenets of central bank indepence worldwide.

"We elect governments to govern, not to give up power to faceless bankers," Murdoch reportedly said, highlighting his growing schism with the government of Tony Blair, who only a few years ago attended News Corp's Hayman Island executive love-fest.

Just last week, Murdoch was kowtowing to the Chinese Government, claiming he had heard cynics say the Dalai Lama was "a very political old monk shuffling around in Gucci shoes" and questioning whether Tibet a "terrible old, autocratic society out of the Middle Ages" had any culture before China invaded.

It is all reminiscent of Murdoch's comments at News Corp's 1995 annual general meeting in Adelaide, where he blasted the Australian economy as "a disgrace" as he offered an opinion on all manner of non-media topics.

By 1997, a chastised Murdoch said son Lachlan had told him he was "not allowed" to talk about Australian politics. "I'm now under very strong instructions from my son to keep my mouth shut because I can go back to America and he has to live with what I have said," the elder Murdoch said.

The Sun King might be better off worrying about the performance of his News Corp empire, which recently suffered a hefty drop in profitability and has kicked off the latest United States television season in unspectacular fashion.

Ratings for News Corp's core Fox group are down an average 6 per cent, with not even the 10th series of its old standby, Beverly Hills 90210, improving the situation.

Guess who's late for dinner?

Here's hoping the 2000 Olympics are better organised than Rear Window, which battled the gremlins in yesterday's paper only to have an item about tomorrow night's glamour Australian Olympic Committee 1999 Countdown Dinner run about two weeks too late. Times have changed since the AOC first sought a plug for the function: the dinner is now sold out, with 1,000 people each paying $1,000 to raise a more than $700,000 for the Australian team. A number of team members will be there on the night, with dual gold medallist Kieren Perkins one of the 100 past and present Olympians who will each sit at the tables snapped up by companies including Telstra, CUB and Westfield. Major Olympic sponsor Westpac is holding its own function.

(AFR)

News

High Stakes: The ‘life-or-death’ battle over a company name

Two stars of Australia’s new economy – the similarly named share trading platform Stake and online cryptocurrency casino juggernaut stake.com – are locked in a life-or-death court battle over naming rights amid growing concerns the gambling outfit has major plans for its home country.

Stake the share platform launched legal action in the Federal Court in August seeking to enforce its trademarks and stop stake.com, a multibillion-dollar enterprise, from using that name for its business in Australia.

The fast-growing Sydney-based share trading platform, the third-largest broker in the country, alleges that the casino group stake.com has been breaking Australian consumer law and has misled consumers through the use of its brand in Australia and its marketing, including its sponsorship of the Alfa Romeo team and the sale of apparel.

Stake the share trading platform, which owns the URL stake.com.au, alleges stake.com’s use of the name in Australia has potentially led to consumers believing the two brands are related when they are not.

The share trading platform Stake, founded in 2017 by entrepreneurs Dan Silver and Matt Leibowitz, alleges there is a threat that more consumers could be misled if stake.com is allowed to continue with its plans to grow its business significantly in Australia under the brand name Stake.

The casino group, led by Melbourne-based twenty-somethings billionaires Ed Craven and Bijan Tehrani, is expected to seek to have the matter summarily dismissed.

A spokesperson for stake.com said: “We are aware of a frivolous claim lodged in the Federal Court by Stakeshop, which in part claims that our global Formula One team sponsorship impinges on their ability to sell trucker hats.”

“We are proud of the global stake.com brand. As a group, we abide by the laws of the countries in which we operate, and do not offer our stake.com platform to Australian customers. We believe the claim has no legal merit and will vigorously defend our rights.”

The court case has shed new light on stake.com’s expansion plans for Australia, where it remains blocked to Australian users.

Court documents reveal the casino group has sought to buy the stake.com.au website from the sharemarket trading platform business. According to the court documents, the casino group has also registered several Australian website domains for its Australian expansion and applied to register a slew of trademarks including Stake Australia, Stake Bet and Stake Casino.

The Federal Court action comes after years of simmering tensions between the two groups over the use of stake.com’s name in Australia.

Stake.com was established in 2017 but flew under the radar in Australia until late 2021, when this masthead revealed the local origins of the business that had grown to be one of world’s largest online casinos, processing hundreds of billions of bets on sports, virtual table games and online slot machines.

In early 2022, stake.com signed hip-hop megastar Drake as its lead ambassador. Later in 2022 it signed a multi-year deal to become lead jersey sponsor for English Premier League team Everton FC as well as its sponsorship of Alfa Romeo’s F1 team.

The significant increase in stake.com’s marketing and media presence was noticed at the share trading platform group that built its user base during the COVID-inspired boom in Gen Y and Gen Z investors, thanks in part to its ultra-low cost brokerage fee model, savvy marketing and the broadening into other financial services including a superannuation product.

A spokesman for Stake the share trading platform said that since the group was founded in Australia it had built a client base of more than 500,000 and more than $2.5 billion in assets under management.

“Over the past six years, we have established a trusted and culturally relevant Australian brand that reflects our dedication to meeting customer needs. It permeates all parts of our business, spanning products, content, internal culture, customer interactions and much more, making it our most valuable asset. We are committed to protecting the Stake brand and the high level of consumer trust associated with it,” the spokesman said.

“We are concerned by the threatened use of the Stake brand in Australia by stake.com in relation to gambling, casino and sports betting services, due to the potential for customer confusion and damage to our brand and reputation.”

Stake.com is not available in Australia but according to court documents, the group is already making arrangements for a major expansion in this country and is seeking a sports betting licence.

In October 2022, stake.com casino executive Brais Pena Sanchez contacted Stake share trading founder Silver on LinkedIn and arranged a video conference meeting where the pair discussed Stake the share platform selling its Australian URL, stake.com.au, to the Curacao-registered, Australian-operated casino group.

During those discussions, Sanchez – the casino group’s chief strategy officer – informed Silver that stake.com planned to launch in Australia under the name Stakebet, or similar, according to court documents. A deal never ensued and the website remains owned by the share trading platform.

Tensions flared again in early 2023 after stake.com the casino was announced as the new team sponsor for Formula 1 team Alfa Romeo, sparking a flurry of legal letters between the two groups ahead of the Melbourne race.

According to the court documents, the casino group’s lawyers assured the share trading Stake that it would not use its logo in conjunction with the Melbourne Grand Prix and did not intend to display the name on any vehicles or uniforms or as part of the Alfa Romeo team name.

However, the share trading Stake alleges that during the four days of the Grand Prix, Stake casino logos appeared on banners for official team merchandise, the team display and on signs at the event and in the race program.

In May, Stake.com was applying to register a large number of new trademarks for goods and services. This included Stake Australia, Stake Bookie, Stake Betting, Stake Gaming, Stake Esports, Stake Casino, Stake Sportsbook, Stake Bet, Stake Punt, Stake Sports, Stake Pokes and Stake Slots.

The casino group has also registered a series of Australian website names under the “.au” domain including stakebet.au; stakecasino.au, stakesports.au and playstake.au.

The case continues.

Crown to launch digital self-exclusion scheme for casinos - July 2023

People with gambling problems will be able to ban themselves from Crown casinos over the internet instead of having to do so in person, as part of a wider overhaul of the group’s approach to harm minimisation.

Crown Resorts’ new safer gambling program also includes the establishment of a dedicated gambling policy team, which will monitor customer playing behaviour and create interventions to better prevent gambling harm from occurring.

Crown boss Ciaran Carruthers joined the business last year following an overhaul of Crown’s management, after a series of bruising inquiries into the company. Carruthers, who has led other global casino groups including Wynn Macau, said the new leadership of Crown was committed to making gambling safer, even if it meant less turnover in its casinos.

“I have been in this business for 34 years and I can tell you – no one does this,” Carruthers said.

“It is critically important to me that when I look at the long-term viability of this business that people see our resorts as entertainment to enjoy safely.”

Under the changes, customers will be able to block themselves from entering a Crown casino through a new digital self-exclusion portal. Those who wanted to ban themselves from Crown venues were previously required to visit, in person, a designated responsible gambling centre run by the group.

The group has also moved to cashless gaming at Crown Melbourne and Crown Sydney – a condition of its temporary gaming licences in NSW and Victoria– as well as introducing $10 maximum bet limits on poker machines at Crown Perth. The technological overhaul required to facilitate the changes has so far cost the business $13 million.

Carruthers pointed to changes Crown has already made which go beyond government regulation, such as encouraging customers to take breaks every three hours, as an indicator of its commitment to shifting problem gambling patterns.

The group said it wanted to establish advisory panels to work with state regulators and community groups to improve gambling harm education and share its research.

Carruthers conceded some aspects of its new approach to harm minimisation, called Crown PlaySafe, would not be welcomed by heavy gamblers. But he argued the changes would make the casinos more appealing to the general public.

Crown’s new head of gambling policy research, Dr Jamie Wiebe, said the most critical shift in the groups gambling policy was a move away from harm minimisation to prevention.

“We want to prevent a problem from ever happening,” she said.

The new program was unveiled just weeks after the Federal Court determined Crown will pay one of the biggest penalties in Australian corporate history to the financial crimes watchdog, after past anti-money laundering and counter-terrorism failings in its Perth and Melbourne casinos.

The $450 million fine is about five per cent of Crown’s last listed market capitalisation before it was taken private by Blackstone Capital for $8.9 billion in May last year.

In 2019, an investigation by this masthead and 60 Minutes revealed Crown had been infiltrated by international criminal syndicates and money launderers.

Crown was forced to overhaul its board, management and procedures to satisfy the regulators, who approved a conditional licence for Crown to operate its Barangaroo casino in June 2022. The conditional licence is valid until the end of this year.

Carruthers said the integrated hospitality offerings at Crown meant the casino could afford to embrace the shift.

“I want people to enjoy the experience of our casinos whether they’re coming for dining, casino or retail. I’m fairly agnostic across which one of those experience or how many of those experiences you want to enjoy,” he said.

Reclusive Sydney gambling mogul emerges as kingmaker in South Africa -
September 2023

Reclusive online gambling mogul Martin Moshal is playing an increasingly influential role in a push to oust the South African government.

Mr Moshal, who lives on the exclusive Sydney Harbour row of Camp Cove alongside shopping centre billionaire Steven Lowy, is not on many rich lists but has made a fortune from online casino technology.

Herman Mashaba is the leader of ActionSA, one of a handful of opposition parties Mr Moshal has backed in the lead up to the 2024 South African national election. Mr Mashaba, known for taking a tough line on immigration and endorsing hard labour for prisoners, is hoping the gambling tycoon will continue his support.

“I wish he won’t give up on us and help us democratically remove the [incumbent African National Congress] and bring about a peaceful transition... please help ActionSA,” Mr Mashaba said in an interview with The Australian Financial Review.

“I have been lucky to have known Martin long before I went into politics,” he added. “I approached him and he was willing to back me up because he knows me as a capitalist... Martin was one of the first to come to the party.”

President Cyril Ramaphosa’s social democratic African National Congress party is set to come under pressure next year amid South Africa’s dire economic troubles. A senior party official has warned the country could become a failed state.

Mr Moshal is the largest individual political donor in South Africa in the last two years. He has given 46.5 million rand ($3.8 million), according to electoral records analysed by My Vote Counts, a non-profit advocating for more transparency in politics.

“Given the amounts donated it has become clear to us he now has a large stake in our politics,” said Robyn Pasensie, a researcher at the organisation.

The size of Mr Moshal’s wealth is unknown. He is extremely private and only admitted to his ownership of online gambling giant Betway after UK journalists traced his ownership back to offshore trusts. Mr Moshal did not respond to a request for comment.

Aside from ActionSA, Mr Moshal has donated to the Democratic Alliance (DA), Build One South Africa and said he also intends to support the Inkatha Freedom Party. Mr Moshal is ActionSA’s biggest backer. The Australian Financial Review is not suggesting Mr Moshal supports the party’s policies.

“I’m not saying these parties are all perfect, but we shouldn’t let perfect be the enemy of good... They are all far better than the government we have today,” Mr Moshal told The Jewish Report earlier this year.

“Pirkei Avot was my late dad – John Moshal’s – favourite part of the Talmud within which Rabbi Tarfon is quoted as saying, ‘It’s not up to you to finish the task, but you aren’t free to avoid it’.”

Mr Moshal said he believed South Africa needed a new government and was on its way to becoming a failed state.

“[This is a] government that’s corrupt, cannot provide basic security and opportunity to its citizens... we need the change of government and leadership that these parties can provide.”

ActionSA is known for advocating for life sentences and hard labour for serious offenders and also wants to repeal the ANC’s Broad-based Black Economic Empowerment (B-BBEE) policy, a form of affirmative action introduced post-apartheid.

“Martin knows my views on racial policies and how dangerous they are,” said Mr Mashaba, who started off in business and was the founder of African hair care brand, Black Like Me.

ActionSA has also been vocal on immigration, views labelled as “xenophobic” by some critics and politicians.

“We recognise that South Africa was built... on the back of migrants,” said Mr Mashaba. “But they must come here legally... you break our laws, we will send you back to your country, the country where you came from.”

One of South Africa’s main economic problems is mismanagement and corruption inside the country’s electricity utility Eskom. The utility has been forced to implement rolling blackouts, which have further stymied economic growth.

“If Eskom cannot run on a commercial basis then it must die a natural death,” Mr Mashaba said, adding changes were needed to give other companies the opportunity to compete.

Mr Moshal’s Entrée Capital is one of Israel’s most active funds in the Israeli VC space. He is the beneficiary of a trust which is the largest individual shareholder in Super Group, which became the parent of Betway and online casino brand Spin after a 2022 listing. The group reported net gaming revenue of €1.3 billion ($2.1 billion) in 2022.

“Moshal is one of the least visible betting entrepreneurs in the world,” Guardian reporter Rob Davis wrote in his book Jackpot: How Gambling Conquered Britain.

“Moshal made much of his fortune from his home in Durban where he patented a series of technological solutions for the online gambling world and developed them via his company Microgaming. The company has since become one of the industry’s leading software players”

A philanthropist, he sits on the capital management advisory committee of Sydney’s Moriah College, alongside Steven Lowy and former Babcock & Brown chief executive Phil Green. He is also a life trustee of the Moriah Foundation and previously donated to Israel’s SpaceIL project attempting to land spacecraft on the moon.

SkyCity puts aside $45m for potential AUSTRAC penalty - August 2023

SkyCity Entertainment set aside $45 million for a penalty if it is convicted of breaches of anti-money laundering and counterterrorism laws.

The financial crimes watchdog, AUSTRAC, lodged proceedings against SkyCity in December over alleged serious and systemic non-compliance with the laws at its Adelaide casino.

SkyCity said on Monday it was difficult to determine the size and timing of the penalty, given the proceedings are in the early stages. But it decided to lodge a $45 million provision on the basis that each breach attracts a maximum civil penalty of between $18 million and $22.2 million.

“Estimating the potential exposure to penalties with any degree of accuracy at this stage of that ongoing process remains challenging, particularly given the outcome is highly dependent on a range of factors which are not yet known,” a statement said.

AUSTRAC has alleged “serious noncompliance” with anti-money laundering laws against SkyCity, claiming the company allowed 59 suspicious patrons to churn more than $4 billion in dirty cash through its Adelaide casino. The independent review is on hold because of the Federal Court action.

The company cut full-year earnings expectations at an investor day in May, with a slowdown in revenue from the international business and rising legal and compliance costs related to a crackdown on money laundering weighing on its bottom line. Analysts have provisioned about $50 million for the AUSTRAC fine, but there is no guarantee that will be enough.

In late May, SkyCity announced it would hire an independent expert to review its anti-money laundering and counter-terrorism programs. It is still waiting for South Australia’s investigation into whether it should hold a casino licence to recommence.

“Judgements in civil penalty proceedings bought by AUSTRAC to date demonstrate that the Court’s determination of the appropriate penalty ... is very specific to the fact in each case and that the Court will have regard to a broad range of factors,” SkyCity said.

SkyCity’s provision announcement coincided with a $45.6 million write-down of the Adelaide casino licence, which was attributed to the value and timing of future discounted cash flows.

The company said the impairment and provision were non-cash and would not affect earnings for fiscal year 2023. Earnings before interest, tax, depreciation and amortisation remain in line with guidance of $NZ300 million ($276.6 million) to $NZ310 million.

SkyCity’s provision comes a month after the federal court agreed on rival casino operator Crown’s $450 million fine for breaches of anti-money laundering and counter-terrorism laws. The fine is being paid over a two-year period without interest.

Shares closed on Friday at $2.09.

Hotel room rates plummet for F1 Las Vegas Grand Prix weekend - September 2023

Hotel room rates for Las Vegas Grand Prix weekend have fallen by nearly 60 percent in some cases since they were first posted last fall. But an industry expert says that does not necessarily mean interest in the event is failing to meet expectation.

When select Las Vegas resorts in November 2022 opened their booking schedules for race weekend, listed prices were as high as they have been seen in the city’s history. While still at higher than normal rates, a major decrease has occurred.

When a drop in booking pace occurs, it automatically triggers revenue management systems to suggest the lowering of room rates, according to Dr. Mehmet Erdem, professor of hotel operations and technology at UNLV’s William F. Harrah College of Hospitality.

Pennsylvania online casinos cross $5 billion in lifetime revenue - September 2023

Business is booming in Pennsylvania. The Keystone State is the clear market leader when it comes to online casino revenue within the US. After August’s total of $171.9 million, Pennsylvania surpassed the $5 billion threshold for lifetime revenue.

Pennsylvania online casinos are constantly upgrading and adding new content, and customers are responding. It doesn’t appear the market will be slowing down anytime soon, either.

Pennsylvania has set the US online casino revenue record four times over the last 11 months, and almost did so again. August’s revenue total of $171.9 million came second to March’s figure of $181.5 million. It was the second-best month of all time for any state with legal online casinos.

Atlantic City: Five-year turnaround of Ocean Casino Resort among city’s greatest successes - September 2023

In the winter of 2019, if any New Jersey sportsbook had tried to offer odds on the Atlantic City casino hotel then known as Ocean Resort Casino making it through another summer, no gambler in their right mind would have taken the bet.

Fast forward to the end of summer 2023, and the property now called Ocean Casino Resort is one of the city’s best performers. In fact, an argument can be made that Ocean’s rise to the upper echelon of the Atlantic City casino market is the most remarkable turnaround of any gambling parlor in history.

From its failed origins as Revel Casino Hotel to its seemingly doomed trajectory in February 2019, the $2.4 billion casino at the north end of the AC Boardwalk felt almost cursed (if you believe in that kind of stuff). But, apparently, the gambling gods decided Ocean was deserving of a better fate.

Once shunned by casino operators, responsible gaming campaign turns 25

At a time when problem gambling matters were rarely mentioned in gaming company boardrooms, Harrah’s Entertainment decided the issue needed to be raised on casino floors.

But it wasn’t just rival corporate executives that looked askance at the idea of employees learning how to spot signs that a customer might have a gambling problem.

“Our own lawyers tried to block it,” recalled Jan Jones Blackhurst, who was then a Harrah’s senior vice president. With the support of company CEO Phil Satre, she led Harrah’s launch of the casino industry’s first responsible gaming initiative in the mid-1990s.

“We had employees that wanted to be educated on the subject. They wanted to be able to help,” said Jones Blackhurst, who completed two terms as Las Vegas mayor before joining Harrah’s. “Maybe because I came out of politics. You have a responsibility to your communities, your customers and your employees. We believed it was the right thing to do.”

Sportsbooks ratchet up targeted advertising at start of NFL season

Shortly after the NFL forged authorized gaming partnerships with a host of leading sportsbooks in the 2021 offseason, operators began flooding the airwaves with a series of humorous spots that featured celebrities hawking their products.

Caesars Sportsbook spent lavishly on an ad package starring the Manning Brothers and actor J.B. Smoove as the eponymous emperor. During Super Bowl LVII last February, Kevin Hart expressed his displeasure for “taking the under” in a DraftKings spot while standing mere feet from WWE wrestler The Undertaker. Another commercial from FanDuel featured a live field goal attempt by former New England Patriots tight end Rob Gronkowski, one that drifted wide left of the upright at the last second.

Former lieutenant governor calls for Nevada Gaming Commission cyber briefing after MGM and Caesars hacks - September 2023

In light of cyberattacks on MGM Resorts International and Caesars Entertainment, former Nevada Lt. Gov. Brian Krolicki, now a Nevada Gaming Commission member, called for a briefing on the hacking incident to shed more light on what happened and how it can be prevented in the future.

The suggestion comes the same day the Massachusetts Gaming Commission met in executive session “to consider information related to an MGM cybersecurity issue.” It held a similar closed meeting on Monday.

After it returned to the public session on Thursday, the Commission entered into an executive session regarding security at MGM Springfield, according to the Commission agenda.

Krolicki made his comments at the end of Thursday’s five-hour meeting of the Nevada Gaming Commission. Since it was made during the public comment session, the commission could not take up the matter, but it’s likely the issue will return to the Commission and the Nevada Gaming Control Board at some point.

In the latest cyberattack that started being felt Sept. 10 and went into this week, hackers knocked slot machines out of commission and created havoc with ATMs and computer systems. MGM, which is reported by a Wall Street analyst to have lost between $4.2 million and $8.4 million a day with the hack, said its systems were operating normally across their properties nationwide as of Wednesday. Caesars reported it was hacked in late August and had customer information stolen but paid a $15 million ransom that avoided any shutdowns.

In December, the Commission approved cybersecurity regulations for the state’s gaming industry to protect operators’ information systems from attacks that could shutter casinos and compromise customer data. The rules went into effect Jan. 1. That approval came right after BetMGM reported that its customers’ personal information – including Social Security numbers – was obtained in an unauthorized manner and included information on their transactions.

In the regulations, casinos were required to do a risk assessment of their systems by the end of 2023 and take any necessary steps on an ongoing basis to ward off an attack. If any breach was successful that compromised player data, credit card information and other records, including that of employees, properties would be required to report it to gaming regulators within 72 hours.

“It would be important and enlightening given the recent events of the past week regarding cyber security and ransomware in particular at MGM and our friends at Caesars and look at how it impacts our world and regulatory responsibilities,” Krolicki said, later adding, “I think at some point in time when there’s the energy and understanding of what just happened if we could get some kind of briefing of what transpired that’s appropriate for public record and perhaps policies going forward of how do we avoid these things and if they do happen whether the reporting schemes on whether it was immediately reported to the Gaming Control Board. There are a lot of questions and a lot of publicity. It’s a global story, and I just think it would behoove all of us to get a good handle on what just happened.”

The Nevada Gaming Control Board released a statement on Sept. 13 saying Gov. Joe Lombardo and the board “are monitoring the cybersecurity incident with MGM Resorts and are in communication with company executives. Additionally, the Nevada Gaming Control Board remains in communication with other law enforcement agencies.”

Casino consultant Brendan Bussmann, managing partner of B Global, which tracks gaming boards and commissions, said the Massachusetts hearing won’t be the last and expects states across the country to hold similar sessions wanting to hear from MGM executives.

“Nevada is the second regulator that I know has raised their hand on this after Massachusetts,” Bussmann said. “It should be about what happened and how it happened, which should be considered confidential information. This is going to be a question that every regulator for both commercial gaming and tribal gaming is going to be concerned about. Since we’re still trying to figure out what happened, then we can see what tools we need as an industry to beef up our efforts on cyber-related events.”

While everyone is focused today on MGM and Caesars, this is not the first cyber attack, Bussmann said.

“This can go back to the Las Vegas Sands attacks in 2014 from the Iranians and any other data breaches that happened between then and now,” Bussmann said. “I would expect every state at a minimum has MGM and Caesars in it to at least say what happened and what can we do regulatory to help this and what can we do with testing and what can we do IT and host of things.”

Bussmann said the regulators can’t be reactionary but instead should get evidence on how it happened and use the best resources outside of the casino industry, such as security firms, to do it right.

“There’s no one better suited to regulate Nevada on this issue than the Gaming Control Board in working with law enforcement partners across the country,” Bussmann said.

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Elon Musk loses $30 billion in one day amid Wall Street’s tech wipeout - 21st July 2023

Elon Musk’s fortune slumped $US20.3 billion ($29.5 billion) after Tesla warned it may have to keep cutting the prices of its electric vehicles, sending shares tumbling.

The drop in net worth to $US234.4 billion is the seventh-largest decline ever among those in the Bloomberg Billionaires Index, and further narrows the wealth gap between Musk and Bernard Arnault, the world’s two richest people. Musk’s fortune still exceeds that of Arnault, chairman of luxury goods maker LVMH, by about $US33 billion.

Musk wasn’t the only US technology billionaire having a tough day. Amazon.com’ s Jeff Bezos, Oracle Corp.’s Larry Ellison, former Microsoft CEO Steve Ballmer, Meta’s Mark Zuckerberg and Alphabet co-founders Larry Page and Sergey Brin shed a collective $US20.8 billion in net worth as the tech-heavy Nasdaq 100 fell 2.3 per cent.

Shares of Tesla slid 9.7 per cent to $US262.90 in New York, the most since April 20, after the company warned of more hits to its already-shrinking profitability. Months of markdowns have taken a toll on automotive gross margin, which fell to a four-year low in the second quarter. Musk, the company’s CEO, said Tesla will have to keep lowering prices if interest rates continue to rise.

In addition to potentially having to budge further on pricing, Tesla is pouring money into new models, including the behind-schedule Cybertruck, plus Dojo, the in-house supercomputer Musk plans to spend at least $US1 billion on by the end of next year. While Tesla remains on track to produce around 1.8 million vehicles in 2023, output will dip this quarter due to factory upgrades.

“It does make sense to sacrifice margins in favour of making more vehicles, because we think in the not-too-distant future they will have a dramatic valuation increase,” Musk said, referring to his belief Tesla will eventually offer autonomous-driving capability that will make already-sold cars worth more.

Adding to Tesla’s challenges is its growing inventory of cars. The company said it now has 16 days’ worth of supply globally, up from 15 days last quarter and just four days a year ago. Inventory continued to build despite steep discounts on Tesla’s best-selling models, and perks including free charging that the carmaker offered consumers.

Musk, 52, derives his wealth primarily from his stake in the EV manufacturer, as well as his holdings in Space Exploration Technologies and Twitter. His wealth had increased about $US118 billion this year through Wednesday, as shares of Tesla climbed 136 per cent.

Arnault, 74, has seen his net worth rise by $US39 billion this year to $US201.2 billion. Shares of Paris-based LVMH have gained 26 per cent in 2023.

FIFA deletes Matildas fans’ World Cup videos from social media

Fans who shared footage taken inside World Cup stadiums have had their videos wiped from social media after complaints from football’s organising body FIFA.

Strict rules buried in the 13 pages of fine print that accompany match tickets specify that people not broadcast “live or near live” material from the grounds on their personal social media accounts, to protect broadcaster’s rights.

But the fine print gives FIFA discretion to decide what constitutes a “near live” broadcast, so that fans who uploaded mobile phone footage of crowds celebrating several hours after the Matildas’ one-nil win over Ireland at Stadium Australia on Thursday had footage deleted.

This masthead also is not allowed to use any images legally from these videos.

“I took some footage throughout the game, including the penalty, which was at the far end of the ground,” said Dan, who requested that his surname not be published. “Then I sort of looped around and got some of the amazing crowd reactions.

“Later, around midnight, I uploaded it on Instagram. In the early hours of the morning I opened Instagram and there was a copyright notice and the video had been deleted.”

Dan later received an email from Instagram saying he could contact the complainant, Fédération Internationale de Football Association, to resolve the issue. He reposted his video, which at the time of writing is still live.

FIFA did not comment directly on Dan’s case but said some people posting social media videos would have them removed because the organisation was conducting a large operation against digital piracy.

Some innocuous social media posts may be swept up by algorithms searching for pirate broadcasters, especially those that feature snippets of on-field action, it said.

“Digital rights are quite restricted so as to protect broadcast rights,” a spokesman said.

FIFA said it broadly encouraged people to post images from matches on social media. While some videos have been deleted, most are still up, including one posted by environment minister Tanya Plibersek, who captured the same goal as Dan from a different angle and posted it to her Instagram page.

“It does seem like overreach to target people who are just sharing content of a major sporting event,” said Isabella Alexander, a law professor at the University of Technology Sydney.

“I think it’s common for live sporting events to be very strictly controlled because of the value of the broadcast rights - and because there’s no copyright on the actual sporting event itself the way they can enforce it is via the fine print on the tickets,” she said.

“It’s probably not common for tickets to have quite the range of provisions like this, but since nobody ever reads them, how would we know?”

Other social media platforms have seen World Cup content removed this week. Journalist Hamish McNeilly from the Stuff website had a tweet that contained a short video from the match between New Zealand and Norway deleted on Thursday night, and posted a take down notice he received from FIFA shortly afterwards.

FIFA’s control of imagery can seem extreme. During the 2018 men’s world cup, football’s governing body ordered Twitter to take down a short video of seven-year-old England fan Alex Conn dancing in his living room because a TV showing a match could be glimpsed in the background.

“It just seems a bit pathetic,” Alex’s mother Kathryn told NBC at the time. “The fact that the TV is on in the background is largely incidental. He’s just enjoying himself and enjoying the game.”

FIFA struck controversy earlier this month when a directive to cover up plaques of seven Australian athletes at Allianz Stadium met outrage from some in the sporting community.

The move, part of FIFA’s “clean site” policy to remove all non-World Cup branding from venues, was reversed last week.

‘What, so betting markets can be changed?’ Robinson backs Matildas over Kerr injury

Three-time NRL premiership winning coach Trent Robinson has emerged as an unlikely ally for Matildas counterpart Tony Gustavsson after he attracted criticism for keeping Sam Kerr’s World Cup injury a secret.

Kerr’s shock withdrawal from Australia’s tournament-opening win over Ireland due to a calf injury was kept under wraps by the Matildas right up until final teams were named 90 minutes before kick-off on Thursday night.

Kerr and Gustavsson spoke at a pre-game press conference as though the world’s best player was not in any doubt despite knowing she had suffered the injury earlier in the day and wouldn’t play.

In his post-match press conference, Gustavsson appealed for understanding as to the tactical advantage gained by not flagging Kerr’s injury, and told host broadcaster Channel 7 in a separate interview that “we weren’t honest in the press conference [because] we didn’t have all the information either”.

Robinson was at the centre of a similar narrative around Cooper Cronk leading into the Roosters’ 2018 grand final triumph, when the star half was in doubt with a serious shoulder injury and Robinson ducked and weaved around the question of whether the star halfback would play until 30 minutes before kick-off. Cronk played the match despite having suffered what was revealed to be a badly broken shoulder blade.

“What, are you saying we should tell everyone so the betting markets can be changed?” Robinson responded when asked about keeping team secrets under intense scrutiny.

“There was a bit written about it [in 2018], but it’s not going to change people turning up. The objective of a coach is to win a game – other people might have a difference of opinion – but our job is to create intrigue and guessing in the opposition.

“Showing your cards days and weeks before a game is giving a bit of a tip sheet to the opposition. People wouldn’t have turned up if they found out? People wouldn’t have watched?

“The coach’s job for Australia is to win the game, and if that was a tactical advantage so Australia could win the game then I think we’re happy with that as Australians rather than having the knowledge hours before that Sam wasn’t playing.”

Gustavsson declined to answer a pre-game question about the fitness of his players and was similarly coy after Australia’s win when pressed on Kerr’s availability for the rest of the tournament.

Questions about how Kerr was injured and the nature of her calf issue were dead-batted, confirming only that the Chelsea superstar will miss next Thursday’s clash against Nigeria, with a match against Canada following four days later.

There is then a week’s break until Australia’s prospective round of 16 fixture on August 7.

“She’s going to be out for two games, and then we’ll reassess afterwards,” Gustavsson said. “That tells you a little bit about what grade it is, but we don’t want to go into more details on that at this point.”

Nike versus Puma: The ambush marketing campaign dividing the Matildas

Football Australia has blocked players from the pioneering 1975 Australian women’s team from referring to themselves as former Matildas as part of an ambush marketing campaign by a rival apparel brand that has bitterly divided the national team’s alumni network.

A long-running debate over who should be regarded as the ‘first Matildas’ – and thus the true matriarchs of the sport in Australia – has erupted in the build-up to the FIFA Women’s World Cup, implicating current players and, according to one source who did not wish to be named due to the sensitive nature of the situation, has even ruined friendships between ex-teammates.

It relates to the team that wore green and gold at the 1975 Asian Cup Ladies Football Tournament in Hong Kong, whose groundbreaking role in Australian women’s football was given overdue formal recognition by FA for the first time in May 2022, after almost half a century in the shadows.

But because FA’s historical committee unanimously ruled they were a club team – with the majority of the 16 players drawn from all-conquering Sydney side St George Budapest, including coach Joe O’Connor, and the rest from NSW rivals – the federation stopped short of classifying them as full-blown Matildas due to the absence of a competitive national selection process.

The team had gained permission from Sir Arthur George, the chair of the FIFA-affiliated Australian Soccer Federation, to wear the national colours and coat of arms – although the ASF had no involvement at the time with the women’s game, which was run by the Australian Women’s Soccer Association, which formed a year earlier.

The 1975ers were offered unnumbered caps by FA, inclusion in the federation’s official records, recognition as the first women’s team to represent Australia in an internationally sanctioned tournament, and entry into the Matildas Alumni club, which holds various functions and events for ex-players.

But they thumbed their nose at FA’s offer, and 10 of them have since linked up with Puma – a direct competitor to the Matildas’ apparel sponsors Nike – which has launched a reported six-figure advertising campaign spotlighting the 1975 players with billboards, social media advertising and various other pieces of content telling their remarkable story.

The 1975ers are shown shedding tears as they read out a letter of recognition from Puma’s Oceania general manager Pancho Gutstein in one video. In another, current Matildas Charli Grant and Aivi Luik, as well as AFL stars Toby Greene and Scott Pendlebury – who all have individual endorsement deals with Puma – announce the names of the players who will take part in a ‘walking football’ rematch against New Zealand, their rivals at that tournament in Hong Kong, to be held on Cockatoo Island in Sydney this weekend.

The players, who have been dubbed the ‘OGs’ by Puma, were reunited for the first time since 1975, supplied with branded tracksuits and shoes, and have also been provided tickets for Thursday night’s clash between Australia and Ireland. They will watch it with their New Zealand counterparts – despite the Football Ferns hosting Norway in the tournament’s opener in Auckland on the same day.

FA says it planned to produce similar video content highlighting the players’ contributions had they taken up the offer made to them last year. Gutstein confirmed that when Puma’s campaign launched, an FA executive made contact and warned them about not breaching the federation’s IP, including use of the term ‘Matildas’, the trademark for which is owned by FA.

Last month, FA submitted another trademark request for ‘Tillies’, a shortened version of the team’s nickname commonly used by fans.

FA said it did not “hold a view” on the Puma campaign as it didn’t infringe on any trademarks or their partnership with Nike, which was also contacted for comment.

FA’s board will review the 1975ers’ claims again after the World Cup, with the players believed to be undeterred in their pursuit of further recognition – despite FA’s historians and some ex-Matildas, while recognising the significance of their achievements, believing they are overreaching by demanding numbered caps.

“With regard to the debate, that’s really not our call at all,” said Gutstein. “We just think that they have an amazing story. It’s a wonderful year to celebrate and share that story.” Puma sponsors only two of the 32 teams at the World Cup, while Adidas has a longstanding deal with FIFA.

Unnumbered caps were also recently offered to – and accepted by – the 1978 Australian team, which FA says was the first senior women’s side selected through a national process, but since they competed against club teams at an invitational tournament in Taiwan that year, and not against other nations, those matches are also not seen as full ‘A’ internationals.

Of the 16 players from the 1975 team, two have since passed away, as has coach O’Connor, and only three went on to earn numbered caps by playing in full ‘A’ international matches. Inaugural Matildas captain Julie Dolan was one of them, and featured in the 1979 clash against New Zealand that FA recognises as the Matildas’ first ‘A’ international, as well as the 1978 team.

Dolan is not involved with the Puma campaign. She declined to comment; sources close to Dolan claim her family was verbally abused the last time she weighed in on the topic. Dolan is the holder of Matildas cap No.1, a status which has led to prominent roles in FA and FIFA activities at World Cup events, and one she would theoretically lose if the caps were to be reshuffled to accommodate the 1975ers – as some of her ex-teammates seem to insist should happen.

In a public Facebook post, former FA director Heather Reid alleges the Puma campaign’s narrative “smacks of deception”, sparking a slanging match in the comments where 1975 player Trixie Tagg accuses her of trying to “rewrite our history” and describing the team’s treatment as that of “illegitimate cousins”. Others questioned what they said was an exclusionary approach.

Tagg said in an article on The Roar in 2020 that simply being acknowledged by FA – as they were last year – would “mean the world to us”, and that the players would never expect cap numbers to be changed.

In another post on a private Matildas Alumni group, seen by this masthead, one ex-player wrote: “Given the choice between honesty and kindness, most of us have chosen kindness. But after the Puma campaign ... it’s time for honesty.

“A team that isn’t nationally selected doesn’t pass the test to be classified as a national team – regardless of what colours they were allowed to wear. We all played many games in green & gold that weren’t classified as A international caps, for a whole range of reasons. A team where nobody else has an opportunity to be chosen simply isn’t a national team.

“Whoever is giving them false expectations is not doing them, or football, any favours. It’s sad to see this divide our game.”

McGregor 'will not be intimidated' over sexual assault allegation from Miami Heat NBA finals game - June 2023

Thee NBA and the Miami Heat are investigating an allegation former UFC champion Conor McGregor sexually assaulted a woman inside an arena bathroom after Game 4 of the NBA Finals.

The woman’s attorney, Ariel Mitchell, said her client has provided Miami police with the clothing she was wearing on the night and a report had been filed.

McGregor’s attorney said the fighter denied any wrongdoing. “McGregor will not be intimidated,” said lawyer Barbara Llanes.

In letters sent to the NBA, the Heat and McGregor’s representatives, Mitchell detailed her client’s allegations and said the client would discuss “reasonable settlement offers” before June 12 or else proceed with litigation.

“We are aware of the allegations and are conducting a full investigation,” read a statement from the Heat. “Pending the outcome of the investigation, we will withhold further comment.”

The NBA had a similar statement, saying it was working with the Heat to gather information.

The alleged incident happened on the same night McGregor knocked out the Heat mascot in a midgame bit that went wrong.

Burnie, more specifically the man who occupies Burnie’s costume, briefly sought medical attention Friday night after taking two punches from McGregor during a third-quarter stoppage of Game 4 of the NBA Finals between the Heat and the Denver Nuggets.

The employee, who was not identified, received pain medication and was recovering, the team said.

McGregor was there as a promotional gimmick for a pain-relief spray and was booed by many in the Miami crowd even before the bit started.

The flame mascot was wearing oversized boxing gloves and a robe akin to what a fighter would wear entering the ring for a bout.

McGregor hit Burnie with a left hook, knocking him down, then punched the mascot again after he hit the floor.

McGregor then tried to “spray” the mascot with the pain-relief product, while several members of the Heat’s in-game promotional team dragged Burnie off the court.

McGregor hasn’t fought since injuring his left leg in a loss to Dustin Poirier at UFC 264 in July 2021. His last win came in January 2020.

Roman Reigns agrees to put his Tribal Chiefdom on the line against Jey Uso! - July 21, 2023

On a frenetic Friday Night SmackDown, the stakes between Undisputed WWE Universal Champion Roman Reigns and Jey Uso got magnified as Reigns agreed to put his Tribal Chiefdom on the line as well as his title against Jey at SummerSlam! Plus, “Dirty” Dominik Mysterio won his first NXT North American Title defense against Butch, Rey Mysterio advanced in the U.S. Title Invitational Tournament, Charlotte Flair overcame IYO SKY so much more!

Combat Sports News - Nate Diaz explains how Jake Paul trash talking Conor McGregor and Dee Devlin helped influence him into accepting the fight - 21st July 2023

Diaz (21-13 MMA) will be making his boxing debut against ‘The Problem Child‘ who has a 6-1 record in the ring, 4 of those wins via knockout.

Nate Diaz opened up about why he agreed to take the fight with Paul when speaking on the ‘Raw Talk’ podcast:

“This guy (Paul) actually thinks he’ll beat up everyone’s ass and he’s louder than all you fools who are really beating people’s ass. So, now I have to step the f**k out the box real quick and whup this motherf**ker’s ass so everyone knows who’s the real ass-whupper. You understand what I’m saying?”

Continuing the 38 year old shared:

“This fool was poppin’ off on everybody. Like, ‘Oh, we’re real fighters.’ Well prove it, motherf**ker. Go beat his ass for talking sh*t. He was going after everybody. On that big of a stage where he’s making everybody believe that, like you’re letting this guy talk sh*t to the whole roster? And ain’t no one saying sh*t? Louder than the roster? The UFC’s big, but the roster?”

Addressing what Jake Paul was saying about Conor McGregor, Nate Diaz continued:

“And then he was talking sh*t to Conor, talking sh*t to Conor and dissing his wife and sh*t? Some real disrespectful stuff that he shouldn’t have been saying. And nobody’s saying sh*t. I’m the one who said ‘Shut the f*ck up, b**ch. I’ll whup your ass. Have some respect.’ You’re gonna disrespect somebody’s wife and stuff like that who would actually whup your ass? To get a fight like that, that suppresses the fight fight game.”

Concluding, Nate Diaz said (h/t MMAMania):

“Like, that’s a real fight and you should shut the f*ck up, and no one’s saying anything because everyone’s acting like the whole roster, the UFC, everyone’s acting like ‘He can’t really.’ But he should shut the f*ck up. And no one’s speaking up, saying ‘Shut the f*ck up.’ So … shut the f*ck up.”

With the fight just 2 weeks away, it’s anyone’s guess as to who will be the victor after 10 rounds in the boxing ring.

UFC RAISES MORE THAN $130,500 FOR THE UFC FOUNDATION DURING INTERNATIONAL FIGHT WEEK

July 22, 2023

During the 11th Annual International Fight Week, UFC raised a total of $130,790 with net proceeds benefitting the UFC Foundation.

To commemorate International Fight Week, UFC raised funds across three charitable campaigns surrounding the week-long celebration, including VIP sweepstakes with digital charity platform 15 Seconds of Fame, the 2023 UFC Hall of Fame Induction Ceremony, and a week-long 50/50 raffle.

To coincide with IFW, UFC launched a statewide online and in-venue 50/50 raffle. Fans were able to participate in the raffle by purchasing tickets during the UFC Hall of Fame Induction Ceremony at T-Mobile Arena, at the Las Vegas Convention Center during UFC X, at ceremonial weigh-ins, and during UFC 290: VOLKANOVSKI vs. RODRIGUEZ at T-Mobile Arena. The raffle generated a total jackpot of $78,240, with 50% ($39,120) benefitting the UFC Foundation.

The winner of the remaining 50% of the jackpot, Jonathan Weber of Poinsettia, Ariz., who was making his second consecutive International Fight Week trip, will receive $39,120 after purchasing his 50/50 raffle ticket during UFC 290.

“We always contribute to the 50/50 raffle at every UFC event we attend,” said Weber. “We love watching the jackpot grow and build for the foundation. We have attended many UFC events and every time we go we buy raffle tickets! We’re going to take our winnings and pay some bills and create funds for our nine and four-year old daughters' savings accounts!”

Other funds raised during the week included $17,000 from a VIP sweepstakes for two tickets to sit in Dana White’s section during UFC 290 and $35,550 in ticket sales proceeds from the UFC Hall of Fame Induction Ceremony.

UFC’s CSR activations during International Fight Week also included athletes visiting patients currently undergoing treatment at the Cure 4 The Kids Foundation and hosting a two-day youth freestyle wrestling clinic in partnership with Wrestle Like a Girl at UFC X.

The UFC Foundation works in tandem with UFC’s corporate social responsibility program, #UFCInTheCommunity, to strategically collaborate with partners, sponsors, and athletes to develop additional charitable programs and funding sources to help bolster and inspire the local community.

Since 2017, UFC has organized 29 50/50 raffles throughout North America that have grossed more than $1.55 million, with net proceeds benefitting local charitable organizations in the communities that have hosted UFC events throughout the United States and Canada.

UFC’s next 50/50 raffle will take place from Friday, September 15 – Saturday, September 16 at T-Mobile Arena as part of NOCHE UFC: GRASSO vs. SHEVCHENKO 2. For more information, please visit UFCFOUNDATION.

(UFC)

WWE® ANNOUNCES 27 ADDITIONAL DATES TO 2023 FALL LIVE EVENT TOURING SCHEDULE

STAMFORD, Conn., July 7, 2023 – WWE® (NYSE: WWE) today announced 27 additional live events as part of the company’s 2023 touring schedule. Tickets go on sale next Friday, July 14.

The schedule includes:

- Saturday, Sept. 9: WWE Saturday Night’s Main Event – Nassau Coliseum in Uniondale, N.Y.

- Sunday, Sept. 10: WWE Sunday Stunner – John Paul Jones Arena in Charlottesville, Va.

Friday, Sept. 15: SmackDown® – Ball Arena in Denver, Colo.

Saturday, Sept. 16: WWE Supershow – Toyota Center in Kennewick, Wash.

Sunday, Sept. 17: WWE Supershow – Extra Mile Arena in Boise, Idaho

Monday, Sept. 18: Raw® – Delta Center in Salt Lake City, Utah

Friday, Sept. 22: SmackDown® – Desert Diamond Arena in Glendale, Ariz.

Saturday, Sept. 23: WWE Supershow – Acrisure Arena in Greater Palm Springs, Calif.

Sunday, Sept. 24: WWE Supershow – Save Mart Center in Fresno, Calif.

Monday, Sept. 25: Raw® – Toyota Arena in Ontario, Calif.

Friday, Sept. 29: SmackDown® – Golden 1 Center in Sacramento, Calif.

Saturday, Sept. 30: WWE Supershow – Chase Center in San Francisco, Calif.

Sunday, Oct. 1: WWE Supershow – Tahoe Blue Event Center in Lake Tahoe, Nev.

Monday, Oct. 2: Raw® – SAP Center in San Jose, Calif.

Friday, Oct. 6: SmackDown® – Enterprise Center in St. Louis, Mo.

Saturday, Oct. 7: WWE Fastlane – Gainbridge Fieldhouse in Indianapolis, Ind.

Monday, Oct. 9: Raw® – CHI Health Center in Omaha, Neb.

Friday, Oct 13: SmackDown® – BOK Center in Tulsa, Okla.

Saturday, Oct. 14: WWE Supershow – T-Mobile Center in Kansas City, Mo.

Sunday, Oct. 15: WWE Supershow – Great Southern Bank Arena in Springfield, Mo.

Monday, Oct. 16: Raw® – Paycom Center in Oklahoma City, Okla.

Friday, Oct. 20: SmackDown® – AT&T Center in San Antonio, Texas

Saturday, Oct. 21: WWE Saturday Night’s Main Event – Bert Ogden Arena in Edinburg, Texas

Sunday, Oct. 22: WWE Sunday Stunner – Sames Auto Arena in Laredo, Texas

Monday, Oct. 23: Raw® – American Airlines Center in Dallas, Texas

Friday, Oct. 27: SmackDown® – Fiserv Forum in Milwaukee, Wis.

Monday, Oct. 30: Raw® – Bon Secours Wellness Arena in Greenville, S.C.

About WWE

WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, premium live events, digital media and publishing platforms. WWE’s TV-PG programming can be seen in more than 1 billion homes worldwide in 25 languages through world-class distribution partners including NBCUniversal, FOX, BT Sport, Sony India and Rogers. The award-winning WWE Network includes all premium live events, scheduled programming and a massive video-on-demand library and is currently available in more than 180 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home to WWE Network.

Additional information on WWE can be found at wwe.com and corporate.wwe.com.

Aussie Open win Tag Team titles at ROH Death Before Dishonor

The duo won the titles in a four-way match.

Aussie Open are the new ROH Tag Team Champions.

Mark Davis and Kyle Fletcher won the titles at Friday’s Death Before Dishonor event, defeating former champions Penta El 0 M and Rey Fenix, Best Friends, and The Kingdom in a four-way match. The finish had Davis and Fletcher hitting Coriolis on Trent Beretta to win the titles for the first time.

Lucha Bros. had held the titles for 113 days, winning them back at Supercard of Honor on March 31 in a Reach for the Sky ladder match. The titles had been vacated due to the death of Jay Briscoe back in January.

Aussie Open had to vacate the IWGP and NJPW Strong Tag Team titles after Davis suffered a knee injury that required surgery. This was the first time since May that Aussie Open had teamed up, and the first time since they had signed with AEW.

The rest of the card saw champions retain their titles. The double main event had Claudio Castagnoli successfully retain the ROH World title against PAC, and Athena retain the ROH Women's title against Willow Nightingale.

Wrestling and sports announcing legend Jim Ross on AEW - July 2023

"Ian (Riccaboni) really distinguished himself in Calgary, I thought. I thought he and Nigel McGuinness had a hell of a night. I don't trust anybody any more than Ian Riccaboni to get the stuff in. We've got a great anchor with Excalibur and another great anchor with Ian Riccaboni and you just got to try it and see what kind of chemistry there is between teams. The team of Taz and Tony Schiavone and Excalibur is excellent. They really are excellent and they're getting their timing together. They're not talking over each other. They're trying, I think, not to use so many fu**ing pronouns. Then Nigel and Ian had a hell of a night, and that's leaving out Kevin Kelly in this debate. He'll be back as I understand it to do Collision, but I don't know how all that's gonna work out. I don't have any idea. But anyway, you just got to see if they got chemistry. The skill set it takes to have the patience to talk in sound bites and not make your dialogue about you. That's what we're waiting to see how that was all going to transfer.” - Jim Ross

AEW's Matt Hardy On The Pros & Cons Of Social Media - July 2023

Matt Hardy has remained a top star for several decades. However, his career was rejuvenated in a big way with the emergence of his break-out "Broken" character in TNA. The new persona wound up going viral on social media, thanks to wrestling fans. As a result of leveraging social media to his benefit, Hardy has a pretty solid grasp on the pros and cons of its usage, which he shared during a recent appearance on "Busted Open Radio."

"I have said this for a long time. Social media is the best thing ever to happen and social media is the worst thing to ever happen," Hardy explained. "When you are on social media, it gives guys that are hungry and driven a great platform to promote themselves, to promote their business, to promote their projects — whatever it may be. But it also allows people to come on social media without accountability and without responsibility. And they can insult people and troll people."

Hardy recently encountered some toxicity at the hands of Jim Cornette and his fans on social media, but Hardy does his best to not let it affect him.. "Just because there are a group of people that may follow someone who is an antiquated relic in terms of his opinions — if they came at me and insult me that doesn't bother me at all," said Hardy. "Matter of fact, it is kind of like a badge of honor because I am picking up attention in some capacity". Hardy has realized the best response is not to waste energy arguing or trying to change opinions.

Hardy also recognizes social media isn't going anywhere, and he pushed that to thrive in society you needed to embrace technology and adapt to societal changes. "Social media is a magical thing. It is a monster. It is so powerful," said Hardy. "I just hope people try hard to be very responsible and use it for good."

ONE Championship To Host Four U.S. Events In 2024

ONE Championship, the world’s largest martial arts organization, today announced that the promotion will host four events in the United States in 2024.

Coming off a successful U.S. debut in May at 1stBank Center in Colorado with ONE Fight Night 10, ONE will look to carry its momentum into 2024 with a recurring cadence of ONE Fight Night events in America, which will air live on Prime Video in the U.S. and Canada. Cities, venues, and ticketing information will be announced at a later date.

Chatri Sityodtong, Chairman and CEO of ONE Championship, stated: “I am thrilled to announce that ONE Championship is coming back to the U.S. with four massive events in 2024. When we made our historic U.S. debut with ONE Fight Night 10 on Prime Video, I was blown away by the support we received from our fans in the U.S. ONE is home to the greatest martial artists in the world, and I’m excited to once again showcase our World Champions on American soil. To our fans that haven’t seen a live ONE event, I promise you an experience unlike anything you’ve ever seen.”

ONE Fight Night 10 featured Demetrious “Mighty Mouse” Johnson defending the ONE Flyweight World Title, the return of “Super” Sage Northcutt, the U.S. debuts of Thai superstars Rodtang Jitmuangnon and Stamp Fairtex, and more. Milestones for the event included:

Tickets: Sold out 1stBank Center in Colorado

Viewership: Most watched event to date for ONE on Prime Video

Search: A new peak on Google Trends for “ONE Championship” in the U.S.

Social: #ONEFightNight10 trended #1 on Twitter in the U.S. and Canada for Sports

Prime Video Partnership: Merch on Demand QR codes for ONE apparel, in-stadium Twitch Watch Parties featuring ONE athletes, live coverage throughout fight week

Stage Front VIP, the exclusive U.S. VIP experience partner of ONE, will continue to provide fans with unrivaled access through immersive VIP experiences that include premier seating, premium hospitality offerings, athlete meet-and-greets, event collectibles, after-party access, and more.

Streaming quotas decision would ease Hollywood strike headache: studio boss - July 16, 2023

Australia’s film and television sector will avoid major disruption as a result of union strikes in Hollywood, although the Albanese government is being urged to finalise its decision over proposed local content quotas to ease uncertainty in the industry.

Former chief executive of Nine Entertainment Hugh Marks – who last year founded Australian studio Dreamchaser alongside former Endemol Shine boss Carl Fennessy – said the writer and actor strike had added a layer of complexity to the Australian industry.

After announcing in January it would implement local content requirements for international streaming services, the government is yet to set a number for the quota. A spokesperson for Tony Burke, minister for the arts and for workplace and employment relations, reaffirmed a decision would be made this side of the new year, ahead of its implementation in July 2024.

Marks said the local offices of the likes of Netflix, Disney and Apple will be affected by the strikes, with Australian content pitches increasingly being angled towards a global audience.

The strikes have coincided with a period where streamers have shifted gears from “a gold rush of global domination”, Marks says, to being forced to figure out how to monetise their vast audiences.

Several, including Netflix, Disney+ and Binge locally, have turned to advertising as a contributing solution. A clear direction from the government, he says, would ease the headache over decision-making on domestic content.

“The one thing that would really be beneficial now would be the release of the new proposed laws about quotas in this market because that would certainly give everyone some focus as to at least what’s got to be done domestically,” Marks says.

“I’m certainly encouraging the government to act sooner rather than later to remove that unnecessary lack of certainty from the local market.”

In a positive for the local industry, a statement on Friday from Screen Producers Australia (SPA) noted the strike does not apply to non-scripted productions, including documentaries, light entertainment and reality shows – the latter of which is widely noted to be a beneficiary of the writers’ strike in 2007.

SPA said it anticipated a limited number of non-Australian productions will be affected by the strikes locally. The body said all scripted local productions produced and controlled by Australian production companies that have engaged Australian and Imported SAG members will continue unaffected, provided they engage all cast under Australian Industry Contracts in accordance with the Global Rule One Agreement between SAG-AFTRA and the Media Entertainment & Arts Alliance (MEAA).

While it has been suggested prolonged strikes in the US could see an additional influx of Australian-produced content, Marks believes it is too early in the process to think that might be the outcome.

The country’s biggest streaming services are required under legislation introduced by the Morrison government to report their spending on Australian content to the authority. The big five – Netflix, Stan, Amazon Prime Video, Disney+ and Paramount+ – reported that in 2021-22 they collectively spent $668.5 million on “Australian” and “Australian-related” content.

Last month, NBC Universal walked away from its $180 million sci-fi series, Metropolis, which had pre-production under way at Docklands Studios in Melbourne. After the actors union voted to strike last week, the Sam Neill/Annette Bening drama Apples Never Fall, halted on Friday. Production was already under way in Queensland, budgeted at an estimated $79 million.

NBC Universal signed a content deal with Foxtel in November, with an extended deal with Warner Bros. Discovery, owner of the highly regarded network HBO, in February.

Foxtel’s streaming service Binge has relied heavily on content from HBO for its sustained growth since launching in 2020, with popular shows such as White Lotus, Succession, and The Last of Us. Binge was responsible for 11.9 per cent of all new Streaming Video on Demand subscriptions in the first quarter of this year, according to data from Kantar, with 18 per cent of all of its new user acquisitions driven by The Last of Us, its blockbuster nine-part series that debuted in January.

Local players including Foxtel and Stan (owned by Nine) were approached for comment on the impact of their programming schedules.

One of the streamer’s largest subscription drivers in 2022, House of the Dragon, will continue filming in the UK, due to the show being largely comprised of British actors with contracts governed by the local union, Equity.

Paramount, which owns Network Ten and streaming service Paramount+, is understood to not be affected by the strikes. While it benefits from a constant stream of content from Paramount Studios, the local arm of the company has focused its efforts on Australian-produced content, which includes shows such as The Last King of the Cross, Five Bedrooms, and the recently green-lit series NCIS: Sydney, being produced locally by Endemol Shine.

Screen Producers Australia wants a 20 per cent levy on the streamers’ Australian revenue, while the streamers insist they are spending plenty already, with local TV networks in agreement.

In May, a submission by industry body Free TV, which represents Nine, Seven West Media and Network Ten, said it opposed the introduction of quotas for local productions, arguing the screen production industry in Australia is already booming.

Free TV doubled down this week, calling for a balanced approach to the introduction of streaming quotas. In response to comments by Bryan Brown AM in an address to the National Press Club, Bridget Fair, CEO of Free TV Australia said the group invests $1.5 billion every year in Australian content.

“But if the Government is going to impose content quotas on streaming services, it needs to carefully consider the impact this will have on the Australian public who rely on free services from our local broadcasters,” she said.

Australian tech billionaire Mike Cannon-Brookes splits from wife - 22nd July 2023

An Australian tech billionaire worth $19 billion has reportedly split from his wife after 13 years of marriage.

Australian tech billionaire Mike Cannon-Brookes has reportedly split from his wife after 13 years of marriage.

Sources close to the family of Mr Cannon-Brookes, who is Australia’s sixth-richest person and the co-founder of Atlassian, have confirmed he is separating from his wife, Annie, according to Nine newspapers.

The couple married in 2010.

Their separation comes just a week after the high-profile split of Australia’s richest couple, Twiggy and Nicola Forrest.

The Forrests, who had been married for 31 years, said they were living apart but insisted the separation will not impact their mining and philanthropy empire.

Mr Cannon-Brookes made his estimated $19 billion fortune alongside fellow Aussie billionaire Scott Farquhar, with whom he co-founded software firm Atlassian in 2002.

The company is widely considered a great Australian success story, its share price having quintupled since it was listed on the US stock exchange in 2015.

Atlassian has, however, suffered a tough 12 months amid broader turmoil in the tech sector. In March, the company laid off 500 workers just a few months after a dramatic hiring blitz.

In a self-described “no bulls**t” note to staff, Mr Cannon-Brookes and Mr Farquhar said it was a “very hard day in our 20 year history” and they were “deeply sorry” to make the job cuts.

“To be clear, this decision is not a reflection of Atlassian’s own financial performance, as we will be reinvesting in roles that better support our priorities,” they wrote.

The Cannon-Brookes family owns an impressive property portfolio, including the 1.1-hectare Fairwater estate, previously the home of the late Lady Mary Fairfax, which they acquired in 2018 for a reported $100 million. It was believed to be the priciest property sale in Australian history.

In June, the couple forked out $14.25 million to buy a home in Newport, on Sydney’s northern beaches, neighbouring the $24.5 million estate they purchased in 2020.

The five-bedroom home is set on a 3000-square-metre block of land and features a 1000-square-metre netted bathing area.

Cannon-Brookes, who was previously a fashion designer, was born in the US.

It’s believed he and Annie met at a Qantas lounge during a trip between Sydney and San Francisco.

Endeavour calls on states to work together on gambling reform

Endeavour Group boss Steve Donohue has urged state and territory governments to work more closely together when considering policies to fight problem gambling, as the hotels’ operator promises to get a jump on implementing gaming reforms unveiled in Victoria this week.

Donohue said on Thursday that Endeavour, one of the largest operators of poker machines in the country, has written to state governments calling for a “more co-ordinated and collaborative approach” and to make sure that knowledge is shared across all states on proposals such as cashless gaming and facial recognition technology.

He said there was room for the states to share more insights with each other about the impact and efficacy of different policy measures.

“What we are saying is we think there is an opportunity for deeper collaboration and more co-ordination in relation to various approaches, suggestions and ideas,” he said.

“We can learn from the experiences that each state and territory is having.”

A spokesperson for New South Wales Gaming and Racing Minister David Harris said the state was committed to working with all stakeholders to deliver evidence-based gambling reform.

“We will be paying very close attention to the activities of other jurisdictions, such as the Victorian government and the evidence they unearth through the work of their implementation working group,” they said.

“Just this week the minister met with the ACT minister for gaming to continue collaboration and discussion on gambling reform across jurisdictions.”

Endeavour told shareholders on Thursday that the company would move swiftly to implement changes after the Victorian government unveiled proposed reforms to gaming machine regulations on Sunday.

The state’s plan for reducing gambling harm includes slower spin times for games, mandatory closing periods for gaming room floors, mandatory pre-commitment limits and a load-up limit of $100, which will cap how much an individual can put in a machine at a time.

Endeavour confirmed it would adjust the hours of gaming machine areas at its ALH Hotels in Victoria, so they close between 4am and 10am by August 31; 10 months ahead of the government’s proposed timeline.

This would bring Victoria’s rules in line with operating-hours regulations in NSW and South Australia.

The company also confirmed it supported the $100 load-up limit and would bring this into operation for Victorian machines “as soon as is practicable”.

Shares in the business closed 9.9 per cent weaker on Monday as investors and analysts considered what impact the reforms would have on the group’s earnings.

Goldman Sachs analysts said on Monday that the exact impact would be difficult to estimate, but said it could lower earnings by 0.5 per cent to 1.8 per cent during the 2024 financial year.

E&P Financial analyst Philip Kimber said policies such as the $100 load-up limit were likely to have a smaller impact on Endeavour’s financials than the Victorian government’s policy on pre-commitment limits.

“There is no change to our view that the Victorian government proposal with the potential to have the most material impact on electronic gaming machine spend in Endeavour’s Victorian pubs is mandatory pre-commitment limits [via carded play],” he said in a note to clients on Thursday.

Endeavour shares opened stronger but did not maintain momentum during Thursday’s session as the broader market stayed flat. The stock was up 0.3 per cent to $5.91 in late afternoon trade, but still down by 5.6 per cent over the past five days.

Media Man commentary for David Rowe Illustrations as per The Australian Financial Review

Pen Dan Thon Games For Four. Great art.

No Pentathlon. No nothing. Gang of four. Gonzo and satire +. Commentary open to interpretation, as per pro wrestling legend John Cena's Instagram. Beauty of otherwise in the eye of the beholder. Alternative commentary: Sports biz blessing in disuise and doddged a bullet from the range.

Media Man commentary for Mike Mooneyham feature on 'The Bloodline' and wrestling factions news in the WWE

Exactly. But, hopefully it becomes the "new normal" for the WWE version of pro wrestling. The Judgement Day faction also looks very promising to me with Dirty Dom as a heat seeking "killer heel" element, while going after all of the belts. Tony D gets seen on today's WWE SmackDown backstage and he's got "mob" and family business history with Escobar, so LWO also gets a shot in the arm. So much better than 3 to 5 years ago. The Triple H era with apparent assistance by Shawn Michaels and a few others who listened to fans of pro wrestling. Paul Heyman fingerprints over the "crime scenes" for the past 56 months or so. And WWE business is at historic levels. Feel welcome to quote me.

Media Man commentary for recent scribes in Search Engine Journal - 2023

SEJ's Kristi on the latest on the Hollywood writers strike connection with AI, human writers and the like..To paraphrase the world's leading tech entrepreneur/innovator, Elon Musk, "Once you summon the beast (of AI) there's no turning back". For me, founding and overseeing a modest size independent media and online publishing firm.Insew both opportunity and threats with AI. More threats at this stage of the game.. Circa 1980 pro wrestling legend, "The American Dream" Dusty Rhodes cut a promo which was decades ahead of its time and included the verse, "A computer took my job Daddy"..and "that's hard times". Well, we may not be quiet at that point but social is inching closer. We are somewhat reluctantly starting to embrace some A.I elements. Twitter Spaces broadcast raised interesting points on AI in business and life over the past week. The part about "summoning the demon" is still giving me mild nightmares. AI can certainly save publishers and the like a considerable amount of money? How? By reducing if not elimination of human writers, web-coders and so on. Ying and yang. AI wins and a human loses. But, humans are still in control right?! This is getting me even more fired up for the potential match: Musk vs Zuck! Man vs Machine!

Media Man commentary for Search Engine Journal: Supercharge your Alt text SEO strategy

SEJ - Alt Text AI.. motivated to work on an AI project to help get the best parts of the subject and have AI write one of these AI articles for us. Open AI, xAI, Bard and/or other! AI tender wars could be a potential growing trend. Save time and save money by not having to pay a human to do a job an AI robot machine can do! "Never pay a human to do a machines job". (Agent Smith -;The Matrix). In AI and SEJ we trust. Man over machine or Machine vs Human? Can they both co-exist in the AI SEO space or will a battle be looming or more a Darwinism for the AI writer and scribe. An AI writer will work for nothing and around the clock 365 right? Little wonder the article was done or largely done by AI. A growing trend, or a one-off? All the news that's fit to print on SEO. AI SEO all the way to the bank.

Netflix reveals jaw-dropping result after password sharing crackdown

The streaming giant has unveiled the results of its controversial password-sharing crackdown – and they’re quite staggering.

Netflix has revealed that subscriptions to their streaming service climbed by nearly six million in the wake of its crackdown on password sharing.

The streaming giant finished the recently ended quarter with a total of 238 million subscribers and a profit of $US1.5 billion ($1.77 billion), according to an earnings release.

The pick-up in subscribers came as a potentially crippling writers and actors strike hits the US entertainment industry, but with analysts saying Netflix is better positioned than its rivals to weather the storm.

“We are constantly at the table negotiating with everyone across the industry,” Netflix co-chief executive Ted Sarandos said during an earnings presentation.

“We need to get to this strike to a conclusion so that we can all move forward.”

Revenue came in lower than expectations with Netflix posting $US8.2 billion ($12 billion) in sales over the April to June period, pushing the company’s shares down more than eight per cent in after hours trading on Wall Street.

Netflix in May expanded its crackdown on users sharing passwords with people beyond their immediate family as it seeks to shore up revenue after a rough patch last year.

Earlier this year the company complained that more than 100 million households were sharing accounts at the service.

“Let’s face it, the crackdown on passwords is working,” Navellier and Associates chief investment officer Louis Navellier said of Netflix.

“I was ecstatic with the results; I think they hit the ball out of the park with subscriber growth.” In its earning statement, the company said that the policy would expand to all its markets worldwide.

To convert non-paying users, Netflix has introduced “borrower” or “shared” accounts, in which subscribers can add extra viewers for a higher price or transfer viewing profiles to new accounts.

Netflix launched an ad-subsidised offering around the same time as the crackdown, and on Wednesday eliminated its lowest priced ad-free plan that cost $10 a month in the US.

“The decision to cut its basic tier is an effort to bolster advertising by elevating the price difference between its advertising and non-advertising tiers,” said Insider Intelligence principal analyst Ross Benes.

“Building an ads business from scratch isn’t easy and we have lots of hard work ahead, but we’re confident that over time we can develop advertising into a multi-billion dollar incremental revenue stream,” Netflix said in the letter to shareholders.

Benes estimates that Netflix will generate $US770 million ($1.13 billion) in advertising revenue in the US this year, and more than US$1 billion by 2024.

“Netflix’s increased focus on password sharing will occur alongside heightened pressure to expand ad revenue,” Benes said.

“As the service’s subscriber base plateaus in more countries, Netflix will focus on moving price-sensitive freeloaders to its cheaper ad-supported plan.”

Actors on strike

The earnings report came as Netflix and other film and television makers see productions halted by an actors and writers strike in the United States.

“The share price is down a bit after market; there is worry they will run out of content because of the Hollywood strike,” Navellier told AFP.

Screen Actors Guild (SAG-AFTRA) members joined writers who have been on strike for weeks, triggering the first industry-wide walkout for 63 years and effectively shutting down Hollywood.

“Our experts say that Netflix is best positioned to weather the strike compared to competitors, but it could start to feel pressure if its content pipeline gets increasingly strained,” said Third Bridge analyst Jamie Lumley.

Sarandos said on an earnings call in April that the company has a “pretty robust slate of releases” and a large base of upcoming films and shows from around the world to help it endure a strike.

The company touted the success of fresh Murder Mystery and Extraction films, as well as series such as Bridgerton, The Witcher and Never Have I Ever.

“This year we’ll have more returning seasons than any other streamer,” Netflix told shareholders, sharing a list that included The Crown and Virgin River.

Netflix scraps huge comeback movie for beloved 80s franchise - July 2023

Netflix has scrapped a huge comeback movie for a beloved 80s series, despite already spending more than $44m developing it.

Netflix has scrapped a huge comeback movie for a beloved 80s series.

Despite spending more than $44m on the project, it seems the upcoming film has officially been given the axe by the streaming giant.

The Masters of the Universe – based on the He-Man and other Mattel toys – has been in the works at Netflix since 2019.

The streaming giant already released an animated series, He-Man and the Masters of the Universe in 2021, and two other shows were also in development.

However according to Variety, despite the extortionate amount of money spent on development costs, the project has been axed.

The news reportedly comes after “budget concerns” were raised.

The project previously had a tough time trying to find its way to the big screen as it went through both Warner Bros. and Sony Pictures.

Many writers have been involved in the project since 2007, as well as acclaimed directors Jon M. Chu and McG.

Huge names were attached to the film including The Lost City directors Adam and Aaron Nee and lead actor Kyle Allen, 28, who is best known for roles in West Side Story and American Horror Story.

Significant pre-production procedures took place even though producers worked to get the budget down.

Netflix reportedly rejected a $180 million budget as it never officially gave the project the green light.

Although the film is no longer at Netflix, Mattel is reportedly looking for a new home for the film.

CEO of the company Ynon Kreiz recently told The New Yorker: “It’s hundreds of pages of characters and sorcerers and vehicles and weaponry – you name it.

“And then you flip through the pages, and here’s a movie, and here’s a movie, and here’s a TV show. . . . it’s endless!”

The film is based off a toy line franchise of the same name, which was also a hit cartoon series that aired from 1983 to 1985 and consisted of 65 episodes.

The series was so successful that it spawned a spin-off series, She-Ra: Princess of Power, following the adventures of He-Man’s sister, Princess Adora.

A live action movie version was released in 1987 which starred the likes of Dolph Lundgren, Courteney Cox and Frank Langella.

‘They Live’, starring Roddy Piper, returning To U.S theaters For 35th Anniversary

John Carpenter’s classic They Live, starring WWE star Roddy Piper, Keith David, and Meg Foster, came out in 1988. The film is based on “Eight O’Clock in the Morning” by Ray Nelson. As AMC Theatres summarized, They Live centers around “aliens who are gaining control of the earth by masquerading as humans and the one man determined to stop them.” This special anniversary event will feature an exclusive intro from director John Carpenter.” To commemorate the movie’s thirty-fifth anniversary, it is returning to theaters on September 3 and 6 through Fathom Events. The special edition will include an exclusive intro from Carpenter.

Meta and other social media giants blocking news in Canada - July 2023

Some Instagram users in Canada are finding their access to news accounts restricted as Meta and other social media companies prepare for the country’s Online News Act to come into effect. Meta, the company that owns Instagram and Facebook, says it underwent testing in June to limit some users and publishers from viewing or sharing news content in Canada. It says tests impact up to five per cent of Canadian users. Many have questions about the federal government’s Online News Act, why it’s being opposed by social media companies and how the friction between the two will impact Canadian users. Here are some of your questions, answered.

What is the Online News Act?

The Online News Act, or Bill C-18, is a piece of Canadian legislation that requires tech companies like Google and Meta to compensate news outlets for sharing links to their pages. The law received royal assent on June 22 and is slated to take effect “no later than 180 days” after that date.

What are the concerns for social media companies?

Critics, including Meta and Google, say Bill C-18 is unfair, unworkable and amounts to a tax on links, with no recognition of the traffic or “free marketing” the tech companies provide to news publishers. Along with blocking access to some users, Meta has begun an ad campaign on its Facebook and Instagram platforms, criticizing the law and explaining its decision to remove news links.

“The Online News Act is based on the incorrect premise that social media companies benefit unfairly from news content shared on our platforms, but the reverse is true,” said Lisa Laventure, spokesperson for Meta, in a statement Monday. “News outlets voluntarily share content on social media to expand their audiences and help their bottom line. Unfortunately, the only way we can reasonably comply with this legislation is to end news availability for people in Canada in the coming weeks.”

Is this what the bill’s proponents wanted?

No. Heritage Minister Pablo Rodriguez called Meta’s move “disappointing” and said Canadians will not be intimidated by these tactics. Meanwhile, Paul Deegan, the head of News Media Canada, called Meta’s move a “kick in the shins” to Canadians at a time when the value and need for credible information has never been greater.

“Meta’s decision to ‘unfriend’ Canada by denying access to trusted sources of news for some of their users, as wildfires burn and when public safety is at stake, is irresponsible and tone deaf,” Deegan told CBC News in an email. “This hard-nose lobbying tactic is more evidence of the power imbalance that exists between dominant platforms and publishers.”

Will this happen to all of us soon?

In order to comply with the law, both Google and Meta have stated they would remove news links in Canada before the law comes into effect by the end of the year. Rodriguez has said Google and Meta do not have obligations under the law because the regulatory process is just beginning.

“We’re deeply convinced that Google’s and Facebook’s concerns can be resolved through the regulatory process. If Facebook truly believes that news has no value, they can say so at the negotiating table,” Rodriguez said in a statement on Monday. “Threats to pull news instead of complying with the laws in our country only highlight the power that platforms hold over news organizations, both big and small.” Google has said it will work with the government throughout the regulatory process, while Meta believes the process isn’t equipped to make changes to parts of the legislation with which it disagrees.

What is CBC doing about this?

Legacy media and broadcasters have praised the bill, which promises to “enhance fairness” in the digital news marketplace and help bring in more money for shrinking newsrooms. Tech giants including Meta and Google have been blamed in the past for disrupting and dominating the advertising industry, eclipsing smaller, traditional players. CBC/Radio-Canada’s corporate position is that the Online News Act will help level the playing field and contribute to a healthy news ecosystem in Canada “at a time when 80 per cent of digital ad revenue goes to Facebook and Google,” said spokesperson Leon Mar. In an editor’s blog, CBC News editor-in-chief Brodie Fenlon has suggested audiences follow the broadcaster on TikTok and other apps, such as Gem and CBC Listen.

Has there been pushback?

Meta, which is based in Menlo Park, Calif., has taken similar steps in the past. In 2021, it briefly blocked news from its platform in Australia after the country passed legislation that would compel tech companies to pay publishers for using their news stories. It later struck deals with Australian publishers. Gregory Taylor, a communications, media and film professor at the University of Calgary, pointed to Australia as an example for why Canadian news publishers should hold strong on their position.

“Facebook is really trying to assert itself, but in the end they can’t afford to lose a lot of these markets,” Taylor previously told CBC North. “I believe that we are at the leading edge of getting these companies to contribute to our democracy by bringing in this kind of funding model.”

What is the answer to combat this?

Alfred Hermida, a journalism professor at the University of British Columbia, believes C-18 is a “flawed piece of legislation” that doesn’t address greater issues in the news industry, such as the concentration of private media ownership.

“It doesn’t take into account the record profits of media conglomerates like Bell and Rogers,” he previously told CBC News. “And it doesn’t really do anything to support for more than 140 journalism startups that have been created in Canada since the year 2000.” In the near term, private messaging and chat groups may also be alternatives as Meta’s Facebook Messenger does not appear to be affected by the company’s plans to block news links.

In conclusion, the implementation of Canada’s Online News Act has led to restrictions on news accounts for some Instagram users in the country. Meta and other social media companies have undergone testing to limit the viewing and sharing of news content in Canada. The Online News Act requires tech companies to compensate news outlets for sharing links to their pages. Social media companies like Meta and Google oppose the law, stating that it is unfair and amounts to a tax on links. Meta’s decision to block news links has been criticized by proponents of the bill, who argue that it is irresponsible and highlights the power imbalance between platforms and publishers. Both Google and Meta have announced plans to remove news links in Canada before the law comes into effect. CBC/Radio-Canada supports the Online News Act, believing it will enhance fairness in the digital news marketplace. There has been pushback from social media companies, with Meta previously blocking news in Australia but later striking deals with publishers. The answer to combat this issue is still being debated, with some arguing that the legislation does not address larger issues in the news industry. In the meantime, private messaging and chat groups may serve as alternatives for accessing news content.

Top 5 Movies about writers on Netflix

Movies are a great part of our lives. They make us happy and sad, inspire us to embark on journeys to unknown lands, and become our escape when everything seems to go down. You can find a movie about literally anything and use it as a tool to get out of a crisis.

This is especially relevant for academic writers and their blocks. The writing industry knows no boundaries, starting with novel writers who spend years on their books and finishing with professional essay writers who can finish a difficult assignment in 8 hours. SmartWritingService is a great sample of such websites.

Both get writer’s blocks from time to time. Just like batteries, they need to be recharged to continue their work. Sometimes it’s the feeling of the worthlessness of what they do, while other times, it’s just general exhaustion.

If you’re in a similar situation, let us help you recharge with the 5 best movies about writers!

TOP 5 MOVIES ABOUT WRITERS

These will enchant you with interesting stories and help get your mind off the struggle. Get some popcorn, a blanket for extra coziness, and let’s begin.

STRANGER THAN FICTION

This is an extraordinary story that comes alive thanks to an amazing cast. Here you can see legends such as Dustin Hoffman and Emma Thompson. Another treat is Will Ferrel in an unusual role for him. We all know the actor for his humor and sarcasm, but in this movie, he’s a completely different, serious, character.

With this movie, you will experience all the stages of the writing process, a unique interpretation of it, and the way to make your characters open from new sides on screen. It’s unique, creative, and very engaging. The movie will leave an impression you won’t be able to shake off for several days. And you won’t have to!

MIDNIGHT IN PARIS

If you’re more into romantic stories, this movie is a great choice for your rewind time. This is Woody Allen at his best! The movie shows a story, filled with romance and comedy, about a promising writer on a journey to the most loving and loved city of the world, Paris, with his fiancee.

The author, played by the talented Owen Wilson, is filled with fears, a lot of writers have, no matter the genre, experience, or era. The movie takes a fantastic twist when the writer meets a lot of authors he was inspired by before their famous breakthroughs. Their stories help him overcome every doubt and fear, coming out a completely new person and giving himself a chance.

The story is enhanced by the beauty of the French capital, which is just magical.

SWIMMING POOL

This movie is more of a thriller, for those who like to be on the edge of their seats, thinking of nothing more but the plot. It’s about deadlines (the most powerful thriller for a writer anyway) and inspiration in unexpected places. The main character, played by Charlotte Rampling, is nearing her deadline that comes as quickly as an express train. She has a new novel to present to her publisher, and it should become as good as her previous successful book, maybe even better.

She goes to the countryside in France and meets a teen played by Ludivine Sagnier. As teenagers can be, she’s quite rebellious, but the writer, unexpectedly, finds inspiration and motivation in their interaction that drives her to make the book much better. The story is filled with mystery, as well.

WILDE

The name of the movie says everything. Oscar Wilde is one of the most unique and famous writers in the world. This story highlights certain parts of his personal life, where a lot of writers can find similarities or explanations to some of their questions.

The author appreciated beauty in everything, was quite witty and painfully honest in his works. This movie can help you gain a new understanding of the world of writing, personal crisis, and more. Besides, you’ll find out a lot of new information about the writer, which is always interesting.

SHAKESPEARE IN LOVE

For everyone who loves pretty things, this is an incredibly beautiful movie. It stars Gwyneth Paltrow and is a special film in her life. The actress won an Academy Award for it! This is a drama-comedy about a writer that everyone around the world knows.

We learn about Shakespeare in school, and some continue to do it due to their major or sheer interest in this extraordinary person and a talented writer. The movie is highly entertaining and beautiful, shot in a traditional British manner. If you’re struggling with writer’s block, this film is a must-watch!

Pop Culture Podcast Wars; Media Man Monthly awards

4 Way Tie: Logan Paul's Impaulsive, WWE's Out Of Character, Joe Rogan and Russell Brand

TMZ wins Media Man 'Pop Culture News Outlet Of The Month'

WWE wins Media Man 'Wrestling Promotion Of The Month' Runner-ups: All Elite Wrestling, Game Changer Wrestling and National Wrestling Alliance

Search Engine Journal wins Media Man 'Search News Outlet Of The Month'; Runner-up: Search Engine Land

News

News.com.au holds number one news traffic ranking in April for fourth consecutive month - May 22, 2023

News.com.au has retained the number one news website traffic ranking for the fourth month in a row, reaching 12.71 million Australians in April.

The latest Ipsos Iris report showed the news website has resolidified its market-leading stance, although there was a three per cent dip month-on-month in unique audience. Average time on site per person, sitting at 29 minutes and 55 seconds, also slipped modestly compared to March.

Oliver Murray, news.com.au editor, pointed out April was a month when many should’ve switched off to enjoy Easter and the school holidays.

“It’s testament to our team that we kept serving up news they needed to read,” he said.

That content offering drew in the largest and most engaged audience in the news category, he pointed out – six in 10 online Australians.

“We saw a 17 per cent month-on-month increase in our sports audience to become the number one sports brand, driven by our NRL and AFL coverage,” Murray said.

“Australians also turned to us for travel news, reaching an audience of 2.541 million and leading the travel news category.”

The gap between news.com.au and rival ABC News, sitting in second spot, is sizeable. The national broadcaster’s web offering attracted the eyeballs of 11.14 million Aussies.

Rounding out the top five was nine.com.au with 10.73 million unique viewers, 7news.com.au on 10.06 million, and Daily Mail Australia on 8.35 million.

The Ipsos Iris report found 20.2 million people used a news website or app in April, with engagement increasing by 1.2% to almost six hours per person, per month.

Major news events ranging from the death of comedian Barry Humphries to the arrest of former US President Donald Trump and the federal budget helped fuel the increase, it said.

The report called out travel-related browsing in the month, given Easter and the school holidays, with 16.9 million Aussies aged 14 and above visiting a travel website or app in April.

Those in the 55-plus age bracket spent the most time browsing – 33% more than those under 55 – while women were more likely to use travel sites and apps than men. People aged 25 to 39 are the largest cohort engaging with travel content online.

(News.com.au)

News

Sydney Morning Herald is the country’s best-read masthead May 22, 2023

The Sydney Morning Herald has retained its position as Australia’s top masthead, with more readers across all platforms than any other over the 12 months to March this year.

Total News figures from the industry’s official data provider, Roy Morgan, showed 7.7 million people, or about one in three Australians, read the masthead. It puts the Herald ahead of its traditional NSW rival, the News Corp-owned Daily Telegraph, which has 3.98 million readers.

The Herald’s sister paper, The Age, cemented its place as the most-read Victorian masthead with 5.2 million readers, and the outlets’ Good Weekend magazine was the premier Saturday insert. It had an average print readership of 754,000 people, up 4 per cent for the quarter.

Print was a particular bright spot for this masthead, with the Monday to Friday newspaper recording 17 per cent growth year over year and quarterly growth of 4 per cent, taking its average readership per edition to 417,000. It marks the sixth consecutive quarter of growth for the physical newspaper, while the Sun Herald’s Sunday print edition was steady, up 1 per cent, to a readership of 423,000. In the last four weeks, an average of almost 1.9 million people read the printed paper.

The Herald and Age’s Good Food and Traveller titles had audiences of 1.49 million and 1.56 million, respectively, each month. Sunday Life had an average issue print readership of 419,000, and Domain defied a softening real estate market, seeing annual growth of 7 per cent and quarterly growth of 5 per cent, to record an average issue print readership of 537,000.

“I am proud of our team for achieving such a strong result, particularly given the challenging environment all publishers are finding themselves in right now,” Herald editor Bevan Shields said.

“The Herald continues to set the benchmark for quality journalism in Australia and I want to thank our subscribers and readers for their continued support for what we do.”

Roy Morgan’s data covers all news brands and digital news websites and tracks audiences on Apple News and Google News.

(The Sydney Morning Herald)

News

Financial Review most-read business masthead. By Sam Buckingham-Jones - May 22, 2023

The Australian Financial Review is the country’s most-read premium business masthead, reaching a print and digital audience of 3.5 million people, figures released by Roy Morgan show.

More than 1.1 million people read the print edition of the Financial Review over the past four weeks, and the masthead reported its third consecutive quarter of growth and a year-on-year increase of 6 per cent. The Australian suffered an annual drop of 17 per cent in print readership for the same period.

The Financial Review’s combined print and digital audience fell slightly from last quarter, from 3.6 million to 3.5 million, but the decline was smaller than rivals.

The AFR Weekend print edition readership grew 59 per cent, on the Roy Morgan figures, and 11 per cent in the last quarter. The weekend and weekday print editions have recorded their highest quarterly result since 2018.

The Australian Financial Review Magazine recorded a print readership of 481,000, after quarter-on-quarter growth of 12 per cent and annual growth of 14 per cent. This is AFR Magazine’s highest quarterly result since 2018.

“After the hit from COVID-19, it’s encouraging to see readers return to the newspaper edition of the nation’s premium business, finance and political publication,” said the masthead’s editor-in-chief, Michael Stutchbury.

“That’s an endorsement of the newsroom’s journalism, including our breaking and ongoing pursuit of the PwC tax scandal.

“At the same time, the Financial Review continues to hold the most digitally focused readership of any newspaper brand as we increase our share of that national market.”

Nine’s total publishing assets – including the Financial Review, nine.com.au, The Sydney Morning Herald, The Age, WA Today, Domain Digital and more, reach a de-duplicated audience of 16.6 million Australians across print and digital.

ThinkNewsBrands, a group representing news publishers, says 16.5 million Australians read news each week and 20.6 million or 96 per cent of Australians read news each month.

The Total News readership figures are produced each quarter by Roy Morgan for ThinkNewsBrands.

(The Australian Financial Review)

Pop Culture, Streaming, Wrestling, MMA, Combat Sports, Movies, Sports Business...

Netflix finally reveals how much it makes from Australians - 1st June 2023

Netflix made more than $1 billion from Australians last year, a figure the company reported for the first time after deciding no longer to funnel revenues through a Netherlands-based subsidiary.

Accounts lodged by the streaming giant show Netflix Australia made $1.06 billion in 2022, up from $30.7 million the year before.

The increase in reported revenue came after the company’s local subsidiary changed how it bills. It now describes itself as a “distributor of access” to Netflix Service as opposed to a provider of services for its parent company.

It was previously estimated that Netflix made between $790 million and $1.4 billion from Australians, but customers were billed by Netflix International BV. But from January 1 last year, customers were billed by Netflix Australia, meaning subscription revenue was recognised and taxed locally.

The accounts, filed with the Australian Securities and Investments Commission, show Netflix Australia paid $966 million to the Netflix Group in distribution fees and other costs, meaning it made just $22.7 million from total revenues of $1.06 billion.

After paying $6.9 million in income tax, it reported $15.8 million profit for the year.

“As Netflix continues to grow and invest in Australia, we want our corporate structure to reflect our business activities here,” a spokesman for Netflix said last year when The Australian Financial Review reported the structural change.

In 2021, Netflix Australia reported $30.7 million in revenue, $2.4 million in profit pre-tax, and $1.5 million in profit after its $868,000 income tax bill.

Netflix does not disclose subscriber numbers for Australia, but the revenue figures included in its latest accounts implies the service has around five million customers locally, if its standard plan, $16.99 per month, is used as a guide. It has four monthly price tiers including a new, cheaper one that now adds some advertising.

According to the Australian Communications and Media Authority, streaming services made a combined $2.49 billion in Australia in 2021.

The disclosure of Netflix’s true Australian revenue comes as the federal government considers introducing quotas that would force streaming companies to spend a certain amount making shows locally.

Some suggestions have been forcing them to spend between 10 and 20 per cent of local revenue on Australian shows, meaning Netflix would be required to spend, depending on the rate, between $100 million to $200 million.

ACMA estimates streaming providers spend $335.1 million on Australian content in the 12 months to the end of June last year, up from $178.9 million the year before.

Netflix has been contacted for comment.

News

Mistakes and miscalculations: How the Murdochs and Fox got it so wrong - 30th May 2023

In August 2021, the Fox Corp. board of directors gathered in Los Angeles. Among the topics on the agenda: Dominion Voting Systems’ $US1.6 billion ($2.5 billion) defamation lawsuit against its cable news network, Fox News.

The suit posed a threat to the company’s finances and reputation. But Fox’s chief legal officer, Viet Dinh, reassured the board: Even if the company lost at trial, it would ultimately prevail. The First Amendment was on Fox’s side, he explained, even if proving so could require going to the Supreme Court.

That determination informed a series of missteps and miscalculations over the next 20 months, according to a New York Times review of court and business records, and interviews with roughly a dozen people directly involved in or briefed on the company’s decision-making.

The case resulted in one of the biggest legal and business debacles in the history of Rupert Murdoch’s media empire: an avalanche of embarrassing disclosures from internal messages released in court filings; the largest known settlement in a defamation suit, $US787.5 million; two shareholder lawsuits; and the benching of Fox’s top prime-time star, Tucker Carlson.

And for all of that, Fox still faces a lawsuit seeking even more in damages, $US2.7 billion, filed by another subject of the stolen election theory, voting software company Smartmatic.

Caught flat-footed

Repeatedly, Fox executives overlooked warning signs about the damage they and their network would sustain, the Times found. They also failed to recognise how far their cable news networks, Fox News and Fox Business, had strayed into defamatory territory by promoting President Donald Trump’s election conspiracy theories — the central issue in the case. (Fox maintains it did not defame Dominion.)

When pretrial rulings went against the company, Fox did not pursue a settlement in any real way. Executives were then caught flat-footed as Dominion’s court filings included internal Fox messages that made clear how the company chased a Trump-loving audience that preferred his election lies to the truth.

It was only in February that Murdoch and his son with whom he runs the company, Lachlan Murdoch, began seriously considering settling. Yet they made no major attempt to do so until the eve of the trial in April, after still more damaging public disclosures.

At the centre of the action was Dinh and his overly rosy scenario.

Dinh, a high-level Justice Department official under President George W. Bush, declined several requests for comment, and the company declined to respond to questions about his performance or his legal decisions. “Discussions of specific legal strategy are privileged and confidential,” a company representative said in a statement.

The second half of 2020 brought Fox News to a crisis point. The Fox audience had come to expect favourable news about Trump. But Fox could not provide that on election night, when its decision desk team was first to declare that Trump had lost the critical state of Arizona.

In the days after, Trump’s fans switched off in droves.

The Fox host who was the first to find a way to draw the audience back was Maria Bartiromo. Five days after the election, she invited a guest, Trump-aligned lawyer Sidney Powell, to share details about the false accusations that Dominion, an elections technology company, had switched votes from Trump to Joe Biden.

Soon, wild claims about Dominion appeared elsewhere on Fox, including references to the election company’s supposed (but imagined) ties to the Smartmatic election software company; Hugo Chávez, the Venezuelan dictator who died in 2013; George Soros, the billionaire investor and Democratic donor; and China.

‘Fox News did its job, and this is what the First Amendment protects. I’m not at all concerned about such lawsuits, real or imagined.’

Fox’s chief legal officer Viet Dinh

On November 12, a Dominion spokesperson complained to Fox News Media chief executive Suzanne Scott and Fox News Media executive editor Jay Wallace, begging them to make it stop. “We really weren’t thinking about building a litigation record as much as we were trying to stop the bleeding,” said Thomas A. Clare, one of Dominion’s lawyers.

As Fox noted in its court papers, its hosts did begin including company denials. But as they continued to give oxygen to the false allegations, Dominion sent a letter to Fox News general counsel Lily Fu Claffee, demanding that Fox cease and correct the record. “Dominion is prepared to do what is necessary to protect its reputation and the safety of its employees,” the letter warned.

Fox, however, did not respond to the Dominion letter or comply with its requests — now a key issue in a shareholder suit filed in April, which maintains that doing so would have “materially mitigated” Fox’s legal exposure.

Three months after the election, another voting technology company tied to the Dominion conspiracy, Smartmatic, filed its own defamation suit against Fox, seeking $US2.7 billion in damages. Dominion told reporters that it was preparing to file one, too.

Dinh was publicly dismissive.

“The newsworthy nature of the contested presidential election deserved full and fair coverage from all journalists. Fox News did its job, and this is what the First Amendment protects,” Dinh said at the time. “I’m not at all concerned about such lawsuits, real or imagined.”

The Fox legal team based much of the defence on a doctrine known as the neutral reportage privilege. It holds that news organisations cannot be held financially liable for damages when reporting on false allegations made by major public figures as long as they don’t embrace or endorse them.

An early warning came in late 2021. The judge in the case, Eric M. Davis, rejected Fox’s attempt to use the neutral reportage defence to get the suit thrown out, determining that it was not recognised under New York law, which he was applying to the case. Even if it was recognised, Fox would have to show it reported on the allegations “accurately and dispassionately”, and Dominion had made a strong argument that Fox’s reporting was neither, the judge wrote in a ruling.

That ruling meant that Dominion could have access to Fox’s internal communications in discovery.

That was a natural time to settle. But Fox stuck with its defence and its plan.

Treasure trove

At nearly every step, the court overruled Fox’s attempts to limit Dominion’s access to private communications exchanged among hosts, producers and executives. The biggest blow came mid-last year, after a ruling stating that Dominion could review messages from the personal phones of Fox employees, including both Murdochs.

The result was a treasure trove of evidence for Dominion: text messages and emails that revealed the doubts that Rupert Murdoch had about the coverage airing on his network, and assertions by many inside Fox, including Carlson, that fraud could not have made a material difference in the election.

The messages led to even more damaging revelations during depositions. After Dominion’s lawyers confronted Rupert Murdoch with his own messages showing he knew Trump’s stolen election claims were false, he admitted that some Fox hosts appeared to have endorsed stolen election claims.

During Carlson’s deposition last year, Dominion’s lawyers asked about his use of a crude word to describe women — including a ranking Fox executive. They also mentioned a text in which he discussed watching a group of men, who he said were Trump supporters, attack “an Antifa kid”. He lamented in the text, “It’s not how white men fight,” and shared a momentary wish that the group would kill the person. He then said he regretted that instinct.

There is no indication that Carlson’s texts tripped alarms at the top of Fox at that point.

The alarms rang in February, when reams of other internal Fox communications became public. The public’s reaction was so negative that some people at the company believed that a jury could award Dominion more than $US1 billion. Yet the company made no serious bid to settle.

All along, the Fox board had been taking a wait-and-see approach.

But the judge’s pretrial decisions began to change the board’s thinking. Also, in those final days before the trial, Fox was hit with new lawsuits. One, from former Fox producer Abby Grossberg, accused Carlson of promoting a hostile work environment. Another, filed by a shareholder, accused the Murdochs and several directors of failing to stop the practices that made Fox vulnerable to legal claims.

The weekend before the trial was to begin, the board asked Fox to see the internal Fox communications that were not yet public but that could still come out in the courtroom.

The board learned for the first time of the Carlson text that referred to “how white men fight”. Dinh did not know about the message until that weekend, according to two people familiar with the matter.

By the time the board learned of the message, the Murdochs had already determined that a trial loss could be far more damaging than they were initially told to expect. A substantial jury award could weigh on the company’s stock for years as the appeals process played out.

“The distraction to our company, the distraction to our growth plans — our management — would have been extraordinarily costly, which is why we decided to settle,” Lachlan Murdoch said at an investment conference this month.

The text also helped lead to the Murdochs’ decision to abruptly pull Carlson off the air. Their view had hardened that their top-rated star wasn’t worth all the downsides he brought with him.

Still pending is the Smartmatic suit. In April, Fox agreed to hand over additional internal documents relating to several executives, including the Murdochs and Dinh. In a statement reminiscent of Dinh’s early view of the Dominion case, the network said that Fox was protected by the First Amendment.

“We will be ready to defend this case surrounding extremely newsworthy events when it goes to trial, likely in 2025,” the statement said.

News

Lachlan Murdoch explains $1.2b settlement, says Fox News won’t change ‘successful strategy’ - 10th May 2023

Fox News paid $US787 million ($1.16 billion) to settle a recent lawsuit on its reporting after the 2020 election to avoid a divisive trial and lengthy appeals process, its parent company’s chief executive said.

Lachlan Murdoch, executive chairman and CEO of Fox Corp., also noted that a Delaware judge “severely limited” Fox’s defences against Dominion Voting Systems, which said the network defamed it by airing bogus charges of election fraud that it knew was untrue.

Fox Corp announced that it had lost $US50 million the previous three months, which it attributed to the lawsuit settlement. Murdoch, who answered questions from financial analysts, was speaking in public for the first time since the case ended and Fox fired its most popular anchor, Tucker Carlson. Carlson has just announced he is launching a new show on Twitter.

Murdoch said viewers, and investors, should expect no change in direction from Fox News.

“We made the business decision to resolve this dispute and avoid the acrimony of a divisive trial and multi-year appeal process, a decision clearly in the best interests of the company and its shareholders,” he said.

Fox still believes it was properly exercising its First Amendment rights to report on newsworthy fraud allegations made by former President Donald Trump, even though that defence was shot down in a pre-trial court ruling in the Dominion case, Murdoch said.

That’s important, since Murdoch said Fox intends to use the same defence against a similar lawsuit by another elections technology company, Smartmatic. That case is not expected to go to trial until at least 2025, he said.

Despite being asked directly about Carlson’s exit, Murdoch didn’t mention the former prime-time host’s name and referred to his reign obliquely. Fox has not explained why it cut ties with Carlson.

“There’s no change in programming strategy at Fox News,” he said. “It’s obviously a successful strategy. As always, we are adjusting our programming and our lineup and that’s what we continue to do.”

Although hurt by the Carlson exit, Fox News remains the leading cable news network.

Fox has lost viewers following Carlson’s firing. Last week’s substitute host, Lawrence Jones, reached between 1.28 million and 1.7 million last week in a time slot where Carlson usually drew around 3 million, the Nielsen company said.

Yet Fox has gained more than 40 new advertisers in that hour, the network said, confirming a report in Variety. Advertisers like Gillette, Scott’s Miracle Gro and Secret deodorant that had considered Carlson’s show a toxic environment have signed on.

(AP)

News

Jesse Armstrong on the roots of Succession: ‘Would it have landed the same way without the mad bum-rush of Trump’s presidency?’ - 27th May 2023

It has been the TV drama of our time – a brutal, hilarious unpicking of how power works. As the series comes to an end, its creator looks back at its origin and the unholy trinity of men who helped inspire Logan Roy

My first vivid memory of the project that would develop into Succession was trying to get out of it. It was about 2008 and I was on location for the filming of Peep Show, the UK sitcom my longtime writing partner Sam Bain and I wrote together. Between that show and my work on The Thick of It and In the Loop, and a bunch of other things, I was feeling overcommitted. That particular day we were pretending a very normal field in Hertfordshire was a safari park. I sloped off from set and, hiding from imaginary lions, tried to elegantly step away from the project.

I failed. And in the following months as I wrote, slowly, I became certain the script was a dud. It was stodgy and odd. The original idea, a faux-documentary laying out Rupert Murdoch’s business secrets, with them delivered straight to camera, evolved as I worked into a sort of TV play, set at the media owner’s 80th birthday party. Channel 4 were supportive, but it was an odd form, this docudrama/TV-play, and difficult to make happen. Around 2011, after a read-through in London where John Hurt played Rupert, the project essentially died.

My US agent was the first person I recall suggesting a totally different approach. A fictional family, a multi-series US show. For five years or so, I dismissed the idea, certain that a portrayal of a fictional family would never have the power of a real one. Four works changed my mind: HBO’s excellent Robert Durst documentary, The Jinx; Sumner Redstone’s grimly business-focused autobiography, A Passion to Win; James B Stewart’s propulsive DisneyWar; and Tom Bower’s fascinating Robert Maxwell biography Maxwell: The Final Verdict. These turned the idea of doing a media-family drama without a singular real-life model from a terrible betrayal of reality into a tantalising chance to harvest all the best stories. Here was an opportunity to explore all the most fascinating family dynamics within a propitiously balanced fictional hybrid media conglomerate. I took a long, deep dive into rich-family and media-business research.

I talked about this, as-yet-unwritten, idea in half-ironised terms as ‘Festen-meets-Dallas’

When Sam and I decided to bring things to a close on Peep Show, I flew out to pitch this media show around LA. I had a clear idea of where I wanted to develop it, but my agent persuaded me appetites would be whetted if we had a number of potential homes. So I spent three days doing a round of pitch meetings where I talked about this as-yet-unwritten idea in half-ironised terms as “Festen-meets-Dallas”. No stars, Dogme 95 camerawork. Scared of driving on the five-lane highways, I bumped around town in the back of a Honda Civic while a nice young man from my US agent’s mailroom ferried me between rooms stocked with identical tiny bottles of water and executives of vastly varying degrees of interest.

Eventually, I got to HBO, the place I most wanted the show to land, home to The Sopranos and Six Feet Under. I knew they might be receptive. Frank Rich – once known as the “Butcher of Broadway” for his theatre criticism, but now an in-house consigliere – had championed my work there to the boss, Richard Plepler, and I’d previously developed a show with them. So, out the back of a French-style bistro on a three-cappuccino high, I pitched it to their head of drama and comedy, Casey Bloys.

Sometimes a pitch stretches thin and threadbare, the fabric renting as you go, the other party peeping grimly through the holes. Other times, the air thickens, and you can feel the atmosphere in the room turn oxygen-rich as the enthusiasm you are trying to project transforms into an enthusiasm you are actually feeling.

By the time I left LA, HBO had made an offer and Adam McKay, fresh from The Big Short, had said he would be interested in directing. I’d written another Succession forerunner, a script about the US political strategist Lee Atwater, for Adam and his producing partner Kevin Messick. It had been one of the few LA experiences I’d had where the excitement expressed at the start of the project sustained through the writing and attempts to get it made.

This was 2016 and, once back in the UK, I wrote the pilot through the spring and summer in a one-room flat I rented on Brixton Hill, south London, walking across Brockwell Park each morning, listening to podcasts and reading news about the Brexit referendum. Scotland had recently voted by a narrow majority to stay inside the UK and the abiding sense right before the Brexit vote was, yeah, change looms, it glistens, menacingly, promisingly, but it doesn’t happen. Not really. Really, everything stays the same.

But then it did happen. And across the Atlantic, the Trump campaign was igniting – even if initially his candidacy felt like a slightly amusing, slightly too-vivid flash in the pan. Into early autumn, in fact, all serious people were still explaining to one another that Trump couldn’t happen. Although I suppose, looking back, there was a notable lack of detail in terms of the mechanism by which he would be stopped.

I think a lot of the better films and TV shows I’ve been involved with have at their heart a quite simple impulse around which the more subtle layers are spun. In the Loop’s spark was anger at the Iraq war. Chris Morris’s Four Lions I think was driven by his gut feeling that something was very wrong with the way we understood jihadi terrorism in the UK. Peep Show was about oddball male friendship, perhaps even “masculinity”.

I guess the simple things at the heart of Succession ended up being Brexit and Trump. The way the UK press had primed the EU debate for decades. The way the US media’s conservative outriders prepared the way for Trump, hovered at the brink of support and then dived in. The British press of Rothermere, Maxwell, Murdoch and the Barclay brothers, and the US news environment of Fox and Breitbart.

The Sun doesn’t run the UK, nor does Fox entirely set the media agenda in the US, but it was hard not to feel, at the time the show was coming together, the particular impact of one man, of one family, on the lives of so many. Rightwing populism was on the march across the globe. But in the fine margins of the Brexit vote and Trump’s eventual electoral college victory, one couldn’t help but think about the influence of the years of anti-EU stories and comment in the UK press, the years of Fox dancing with its audience, sometimes leading, sometimes following, as the wine got stronger, the music madder. It was politically alarming and creatively appealing: to imagine the mixture of business imperatives and political instinct that exist within a media operation; to consider what happens when something as important as the flow of information in a democracy hits the reductive brutality of the profit calculation inside such a company. How those elements might rebound emotionally and psychologically inside a family as it considered the question of corporate succession.

For Logan Roy, Murdoch, Redstone and Maxwell were my holy trinity of models. But Conrad Black, Brian L Roberts of Comcast, Robert Mercer of Breitbart, Julian Sinclair Smith of Sinclair, Tiny Rowland, Rothermere, Beaverbrook and Hearst all fed in. The three central models were wildly different, of course: the self-made refugee Maxwell and the already-rich Murdoch, a scion of Australian journalistic royalty, both so different from the tough Boston lawyer Redstone who started with a couple of his father’s drive-in cinemas.

But they were connected by a strong interest in a few things: a refusal to think about mortality (Redstone and Murdoch both used to make the same joke about their succession plan: not dying); desire for control; manic deal-making energy; love of gossip and power-connection; a certain ruthlessness about hirings and firings. And most of all, an instinct for forward motion, with a notable lack of introspection.

Perhaps the best part of Redstone’s autobiography for a casual reader is the opening, where he recounts clinging by one hand to a hotel balcony through a fire. Despite suffering third-degree burns over half his body, years of rehabilitation, excruciatingly painful skin grafts, he says this event, after which he made all his biggest business plays, had no impact whatsoever on the trajectory of his life.

Whether due to all this grist, or the aligning of the political planets (in)auspiciously, the pilot came unnervingly easily. Getting names in a script to feel real can be hard for me – they’re a tell-tale sign of whether I’m living inside it. Kendall, Shiv, Roman, Connor. They all felt right straight off the bat. Their inspirations, I suppose, were the children of these magnates: three of the Maxwell kids, the ones closest to the business (the boys, Ian and Kevin) and to their father (Ghislaine). Brent and Shari Redstone, with whom Sumner played a tough and complicated game of bait-and-switch over CBS-Paramount succession. And the Murdoch children, Prudence, Lachlan, James, Elisabeth, Chloe and Grace.

But getting those names for the Roy children made them feel like their own individuals to me. It allowed me to pour in just what I wanted from the real world, fill each with all the faults they might have inherited, while giving me room to add some extra, just for them.

Greg and Tom came fast, too. Tom from two roots. One was thinking about the sort of lunks I’ve occasionally seen powerful women choose as partners. Plausible, manly men with big watches and a soothing affable manner. That mixed with the deadly courtier, a more 18th-century figure, minutely attuned to shifts in power and influence, an invisible deadly gas that occurs in certain confined places and rises to kill anyone unwise enough not to take precautions. A hanger-on sustained by some Fitzgeraldian illusions about the world, a sense that perhaps the rich really are different from us and a romantic ambition to make it in New York City.

Greg, I guess, was a distant relative of the sort of political adviser I had myself briefly been. Gormless, clueless, out of place and gauche. But not without an eye for a deal. And, I hope, a little more wheedling and insinuating than I ever was.

The scenes flowed. I put all research aside and followed my nose and wrote pretty much exactly what I wanted

The charge between these two semi-outsiders struck me from the start as toxic and comic. Tom, the interloper, is like an organism that has found a precarious but rewarding perch above some deep oceanic vent and adapted itself to conditions perfectly. He is not pleased at all to see a similar creature scuttling along hoping to share the same cramped evolutionary niche. That first half-bullying, half-provocative exchange they share in the outfield at a softball game in the pilot landed them right in the middle of a stew they’ve been cooking in ever since.

The scenes flowed. I had eaten a very large amount of research, but once I was writing I put it all aside and followed my nose and wrote pretty much exactly what I wanted. It felt funny but odd and broken-ended, fragmentary, abrupt, oblique and slightly brutal. When I emailed it off, I had the familiar feeling that Adam, Frank and HBO might email back to say not only was it not good, it wasn’t even actually, technically, a script. But their response was frighteningly positive. Almost as though the script was finished, after what was, I thought, a quick first draft. I think every other episode of Succession has gone to at least 30 drafts – usually 50. The pilot barely hit 15.

We had our read-through in New York on US election day 2016. Before we started, I made the sort of joke lots of people made that day, assuming the polls were right and Hillary Clinton was going to squeeze it. That night we gathered in Adam McKay’s apartment to watch the results roll in. Much later, I walked a long walk back from Soho to where I was staying near the United Nations looking at the electoral college numbers projected on to the Empire State Building.

We started filming the next day.

I still wonder whether Succession would have landed in the same way without the mad bum-rush of news and sensation Trump’s chaotic presidency provided. Trump wasn’t the firebombing of German civilians, and nor is Succession Slaughterhouse-Five, but I do sometimes think about Vonnegut saying no one in the world profited from the firebombing of Dresden, except himself.

This is an edited extract from Succession: The Complete Scripts – Seasons One, Two and Three (Faber & Faber), out now at £20 each. To support the Guardian and Observer, order your copies for £17.60 each from guardianbookshop.com.

The final episode of Succession airs in the UK on Sky Atlantic/Now on Monday. Jesse Armstrong donated the fee for this article to the Writers Guild of America strike assistance fund.

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LIV Golf announces new pay-per-view option - 26th May 2023

"The hope for LIV is to grow off the success first seen on YouTube in 2022, where the league attracted tournament audiences of several hundred-thousand views in the U.S. and abroad."

Going forward, LIV Golf Series events will be available via a pay-per-view option on YouTube.

The new deal was detailed by James Colgan of Golf.com.

“Less than six months after signing a media rights agreement with the CW, LIV announced Friday that it has created a new, pay-per-view broadcast option to run on YouTube,” Colgan reported. “The PPV broadcast will cost $3 per tournament day, LIV said in a release announcing the decision, and will run in addition to the league’s agreement with the CW.”

Colgan also detailed that “A LIV source indicated that the CW is aware of the decision to introduce a pay-per-view model, and that the decision does not violate any of the league’s preexisting broadcast agreements.”

“The hope for LIV is to grow off the success first seen on YouTube in 2022, where the league attracted tournament audiences of several hundred-thousand views in the U.S. and abroad. The league already has its own direct-to-consumer subscription platform, LIV Golf Plus, which the PPV channel will run counter to. LIV broadcasts will continue to be streamed for free on the CW app.”

This announcement comes less than two weeks after a rather embarrassing moment for the tour. One week before LIV’s Brooks Koepka triumphed at the PGA Championship, the Saudi-backed golf series was in Tulsa.

On one hand, it was a perfect showcase event for LIV. Two of its most high-profile players, Dustin Johnson and Cam Smith, went to a three-way playoff (along with Branden Grace). But most of the people watching did not get to see Johnson’s eventual triumph.

The CW, the league’s primary broadcast partner, went away from coverage in the vast majority of its markets, showing “regularly scheduled programming.” Jim Nantz was quick to make a joke at LIV’s expense on the matter at the PGA Championship. The CW also announced a change, saying that all events will be shown to their conclusions going forward.

[Golf.com]

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WWE Night Of Champions Reportedly Earned Highest Viewership Of Any Saudi Arabia Show - 31st May 2023

According to a report from Fightful Select, Saturday's Night of Champions PLE scored WWE the highest viewership out of any of the company's Saudi Arabia events since the partnership between the two began in 2013. The report states that Night of Champions brought in an 18% increase in viewership compared to last year's Crown Jewel event, and the company is reportedly quite happy with its holiday weekend results.

Night of Champions was headlined by Kevin Owens and Sami Zayn successfully defending the Undisputed WWE Tag Team Championship against Roman Reigns and Solo Sikoa of The Bloodline, with a major angle taking place on the show that saw The Usos turn on Reigns after more than a year of build-up and tension.This marks the second time a tag team match has served as the main event of a major WWE show in recent months. Additional matches on the show included Seth Rollins vs. AJ Styles to decide the first WWE World Heavyweight Champion, a singles match between Becky Lynch and Trish Stratus, and a Backlash rematch pitting Brock Lesnar against Cody Rhodes, among others.

To date, WWE has held nine PPVs and PLEs in Saudi Arabia, along with three house shows. Back in 2019, WWE announced that they had "expanded their partnership" with Saudi Arabia, and that they would be hosting two major events per year in the Middle Eastern nation through at least 2027. Though it hasn't been announced yet, WWE will likely return to Saudi Arabia for another Crown Jewel event later this year.

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Pat McAfee Comments On Empty Seats At AEW Double Or Nothing - 31st May 2023

All Elite Wrestling's Double or Nothing pay-per-view took place this past weekend at the T-Mobile Arena in Las Vegas, Nevada. During the event, Wrestlenomics' Brandon Thurston tweeted images of empty seats inside the venue. Wrestling Observer's Bryan Alvarez also posted a photo from his ringside position, which showed many unoccupied places behind Orange Cassidy after he retained the AEW International Championship in a Blackjack Battle Royal. Former "WWE SmackDown" commentator Pat McAfee has weighed in with his thoughts.

"Anytime you get a shot away from hard cam, you know what I mean, you can really see a lot of things," McAfee said on "The Pat McAfee Show." "AEW found out this weekend or whatever at one of their events, it's like three quarters of an arena completely empty. They don't want that photo out anywhere."

Ahead of the pay-per-view going live on Sunday night, WrestleTix revealed 10,229 tickets had been distributed for an 11,641 setup inside the T-Mobile Arena, leaving 1,412 tickets available. An Anarchy in the Arena match headlined the show, with Blackpool Combat Club's Bryan Danielson, Jon Moxley, reigning ROH World Champion Claudio Castagnoli, and Wheeler Yuta picking up the win in that bout against The Elite's Kenny Omega, Matt Jackson, Nick Jackson, and "Hangman" Adam Page.

AEW's next major standalone show, All In, which will take place on August 27 at Wembley Stadium in London, England, has currently sold over 65,000 tickets and has a gate of over $8 million. No matches have been announced for AEW's first event across the pond as of this writing. Ticket sales for All In have slowed following an initial surge.

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WWE-UFC merged company to be called ‘TKO Group Holdings’ - 16th May 2023

A name has emerged for the group.

Coming out of WrestleMania, it was announced by Endeavor that an agreement had been reached with WWE and the company would be merging with UFC to form a new sports and entertainment company.

The deal has not been formally finalized but a name for the merged group has been revealed. CNBC’s Alex Sherman and Mike Calia published a story and an Endeavor spokesperson confirmed to the outlet that the new group is going to be called ‘TKO Group Holdings’.

It will trade under the New York Stock Exchange as ‘TKO’.

The merger between WWE and UFC is being valued at $20 billion. Endeavor CEO Ari Emanuel will be the CEO of TKO Group and Vince McMahon is going to serve as Executive Chairman.

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Nick Khan Says WWE In Talks With International Cities For 2024 PLEs

It sounds as though WWE will continue expanding its PLEs into international markets next year. Speaking at the JP Morgan Global Technology, Media & Communications Conference, WWE CEO Nick Khan stated that the company was discussing the potential for additional overseas shows in 2024.

"We're in conversations now with a lot of international cities about doing 2024 shows there," Khan said. "Also, part of the intent is to match those up with our media rights, even if they're not up to over-deliver for incumbent partners who can then invite their partners in the international city to the event, and host them. It's good for our overall business." Khan's comments came as part of a conversation about countries offering subsidies to WWE for bringing shows there, as the company brings a great deal of revenue to the city for major events. Khan cited recent events in Puerto Rico as well as the Dallas, Texas area as examples.

Previous rumors pointed toward Australia as a potential location for a future international WWE PLE. However, it's unknown if negotiations with the country have progressed in the months since.

WWE has steadily ramped up its major international shows over the last five years, with the company holding several yearly events in Saudi Arabia, as well as last year's Clash at the Castle and the upcoming Money in the Bank both being held in the United Kingdom. It seems fans around the world should stay on the lookout for upcoming announcements regarding WWE's international schedule in 2024.

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“We Let People Go”: Months After $21.4 Billion UFC-WWE Deal, Endeavor CEO Recalls “Horrible” Time for Organization - 2nd June 2023

The year 2020 brought unprecedented challenges for individuals and organizations alike, and the UFC was no exception. The promotional frontman Dana White has reflected on those uncertain times and shared the struggles the organization faced in keeping things going. Despite the pandemic, White was determined to keep the show running and provide entertainment for fight fans worldwide. While the rest of the world was shut down, the UFC managed to organize consistent events, albeit on a smaller scale. However, this arduous journey was not without its fair share of hardships.

Ari Emanuel, the CEO of Endeavor, the parent company of the UFC and William Morris Endeavor talent agency, revealed the significant challenges they encountered during the COVID-19 pandemic. Even though Endeavor recently secured a massive $21.4 billion deal to acquire the WWE, during the COVID-19 days, the company found itself at rock bottom struggling to stay afloat.

When Covid-19 posed a threat to the UFC

In an interview on the “Freakonomics Radio” podcast, Emanuel shared how the pandemic affected the company financially. During the interview, podcast host Stephen Dubner asked Emanuel, “Did you think COVID might kill Endeavor?”. Reflecting on this, the 62-year-old CEO replied, “It was bad,” He continued, “I’d never had to fire that many people.”

Emanuel mentioned that the continuation of UFC fights during the pandemic played a crucial role in saving the company, accounting for approximately 70% of their revenue that year. Further talking about the struggles to keep the organization alive during the pandemic, the Endeavor CEO stated, “We had our ESPN deal. We then started making deals for writers. So we stored all the cash. We didn’t let anything out. We let people go, which was horrible, or furloughed them.”

Through the storm, Endeavor’s leadership team, led by Emanuel, proved to be the lighthouse that guided them to safer shores. The UFC’s resilience and the implementation of innovative strategies, such as the ‘Fight Island’ events, not only salvaged the company but also became a beacon of hope for other professional sports leagues.

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“Very, Very Easy for Jon Jones”: Ex-UFC Star Ruthlessly Shuts Down Tyson Fury Days After Boxer’s Callout of UFC Champ in Ugly Public Feud - 1st June 2023

The claim made by Joe Rogan that Tyson Fury would stand no chance against Jon Jones has sparked an intense and never-ending debate. Recently, another prominent figure from the UFC, the world of mixed martial arts, has jumped into this heated discussion. However, ‘The Gypsy King’ himself strongly opposed the take of the UFC commentator and didn’t hold back in expressing his views. In fact, he went as far as bashing Rogan and proudly proclaimed himself to be ‘the baddest man on the planet’.

As the back and forth continued between Fury and Rogan, UFC president Dana White has stepped in, proposing a potential fight between Fury and Jones. However, the WBC heavyweight champion firmly refused to step into the octagon, dismissing the idea altogether. This decision faced an immediate backlash from fans who had eagerly anticipated the materialization of this debate inside the fighting arena.

Despite the disappointment felt by fans, it becomes evident that the 34-year-old boxer has no intention of venturing into the octagon. On the contrary, a former UFC welterweight challenger believes that Fury would fare well in the realm of mixed martial arts. However, he warns that there may be unforeseen challenges along the way.

Tyson Fury will have a Jon Jones threat in MMA

During a recent interview, the former UFC fighter Dan Hardy shared his reflections on the latest happenings in the combat sports world, ranging from boxing to MMA. However, it was the Tyson Fury-Jon Jones debate that took center stage.

The 41-year-old Hardy began by heaping praise on ‘The Gypsy King’ for his potential in MMA, stating, “Tyson Fury doesn’t come from a boxing background. He comes from a fighting man background. Tyson Fury sees himself as a fighter first that boxes, and I think he looks at mixed martial arts and sees lots of ways he can capitalize on the changing of the rules.”

Continuing his analysis, Hardy mentioned Fury’s collaboration with Tom Aspinall and how he has showcased proficient elbows and knees in the videos shared with him. ‘The Outlaw’ confidently stated, “I feel like Tyson Fury would be really good if he crossed over to mixed martial arts. Of course, there’d be a lot for him to learn. The main issue would be, he’d be very, very easy for Jon Jones to take down. And I think that’s something that Tyson has not experienced and has not and has not really quite comprehended.”

Meanwhile, Jon Jones recently made a strong statement in his heavyweight debut, securing a first-round victory against Ciryl Gane at UFC 285 after returning from a three-year-long hiatus.

This certainly explains Dan Hardy’s warning to Tyson Fury. How do you think ‘The Gypsy King’ would fare in MMA?

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Dwayne Johnson to Return as Luke Hobbs in New ‘Fast and Furious’ Standalone Film - 7th June 2023

Dwayne Johnson is returning to the “Fast and Furious” universe with a new standalone film, reprising his franchise role as Luke Hobbs.

Universal Pictures announced the project on Thursday. Longtime “Fast and Furious” collaborator Chris Morgan wrote the untitled film’s script. Plot details were not available, though individuals familiar with the deal said the new movie will bridge between the events of the just-released “Fast X” and the upcoming “Fast X: Part II,” which is expected in 2025. Johnson just appeared as Hobbs, a diplomatic security service agent, in a credits scene for “Fast X.”

Johnson will produce the film with Dany Garcia and Hiram Garcia for their Seven Bucks Productions, along with Vin Diesel and Samantha Vincent via their One Race Films. Additional producers include Chris Morgan for his Chris Morgan Productions, Jeff Kirschenbaum for Roth/Kirschenbaum Films and Neal Moritz for Original Film.

Screenwriter Morgan wrote and produced “Fast and Furious Presents: Hobbs & Shaw” and “The Fate of the Furious.” He’s also scripted and executive produced the fifth, sixth and seventh entries in the franchise. Directed by Louis Leterrier, “Fast X” opened at No. 1 around the world in May with $320 million and became the second-biggest global opening of 2023.

Johnson announced Hobbs’ return with a video posted to social media with the caption: “Your reactions around the world to Hobbs’ return in ‘Fast X’ have blown us away. The next ‘Fast & Furious’ film you’ll see the legendary lawman in will be the Hobbs movie that will serve as a fresh, new chapter & set up for ‘Fast X: Part II.'”

“Last summer Vin Diesel and I put all the past behind us,” Johnson added. “We’ll lead with brotherhood and resolve – and always take care of the franchise, characters & fans that we love. I’ve built my career on an ‘audience first’ mentality and that will always serve as my north star.”

Johnson is repped by WME, lawyers Gang, Tyre, Ramer, Brown & Passman, Inc. and The Lede Company.

Seven Bucks has co-produced films like Disney’s “Jungle Cruise” and the DC Studios entires “Black Adam” and “DC League of Super-Pets.” Original series include NBC’s “Young Rock” and “The Titan Games.” Johnson will next produce and star in “Red One” at Amazon Studios and Disney’s live-action “Moana.”

News

13 States Comment On Possibility Of Allowing Gambling On WWE Matches

In March 2023, CNBC reported that WWE was working toward legalizing gambling on wrestling matches, enlisting the services of accounting firm Ernst & Young, with Michigan, Colorado, and Indiana mentioned as the initial targets. As of now, betting on WWE matches is only available at offshore sportsbooks like BetOnline.ag, based out of Antigua, and Bovada, based out of Latvia. Betting on matches in America would open up new streams of revenue for WWE and add some mainstream legitimacy to the sports entertainment powerhouse.

Since that report broke, however, it's been nothing bad news for WWE in the gambling department. Dave Meltzer has reported that WWE's efforts aren't going well — Colorado denied talking to WWE and said that "By statute, wagers on events with fixed or predicted outcomes ... are strictly prohibited in Colorado." Indiana told Casino.org that it had "no interest in approving wagering on scripted events," and Michigan also denied any recent talks with WWE, while New Hampshire Lottery Commission executive director Charlie McIntyre deemed it "very unlikely" betting on WWE gets approved in New Hampshire.

In light of this, Wrestling Inc. reached out to multiple states about the possibility of legalized betting on WWE matches. Each gambling commission was asked 1) how likely WWE would be to succeed if they pitched gambling on matches to them, and 2) if there were any regulations, laws, or statutes that barred betting on something with predetermined outcomes. 13 states -– Arizona, Connecticut, Iowa, Maine, Maryland, Massachusetts, Montana, New Jersey, New Mexico, Ohio, Oregon, South Dakota, and Washington -– responded. While their responses varied slightly, overall, they paint a picture of increasingly fewer opportunities, and increasingly more obstacles, for legal gambling on WWE matches to get approved.

At least three states say they wouldn't allow gambling on WWE as a matter of policy, even if there are no explicit laws against it.

Kerry Hemphill, Manager of Sports Betting Product at the Oregon Lottery, made it clear that gambling on WWE wouldn't be allowed as a matter of policy in the Beaver State: "Although there is no law or statute that forbids it, Oregon Lottery sports betting policy is to not accept wagers on scripted events with predicted outcomes."

Seth Elkin, Assistant Director of Communications for Public Affairs for Maryland Lottery and Gaming, also told us his state had made a determination on the matter. "Maryland's sports wagering law and regulations prohibit forms of wagering that are contrary to public policy or unfair to bettors," he said. "We've determined that it is unfair to bettors, and therefore not in the public's interest, to accept wagers on sports entertainment events that have predetermined outcomes, like professional wrestling."

Meanwhile, a representative from the South Dakota Department of Revenue simply said, "WWE wrestling matches would not be eligible for sports wagering in South Dakota."

Iowa and Ohio say no to betting on predetermined events

Two more states said that predetermined events weren't permitted, but made a point to highlight policy and procedure. Brian J. Ohorilko, Administrator of the Iowa Racing and Gaming Commission, also shot down gambling on wrestling for the time being.

"Predetermined events are not permitted in the State of Iowa," he told Wrestling Inc. "Iowa law defines and permits professional sporting events and sports-related events; however, fixed or predetermined outcomes are not explicitly permitted. As such, and for other integrity concerns, the commission has not permitted predetermined events in any of the approved wagering markets."

Ohorilko also brought up the process that would be required for any kind of legalization: "From a practical standpoint, any request would need to come with a legal opinion as to how this would be permitted under Iowa law," he said. "It would need to go through legal review with consultation from the AG office. If legal review passes, the commission would still need to review policy and integrity concerns with respect to the activity having predetermined outcomes. Approval would be needed before this type of wagering activity could take place."

Ohio tells a similar story. Jessica Franks, Director of Communications for the Ohio Casino Control Commission, pointed us towards Rule 3775-11-01 of the Ohio Administrative Code — the process for adding to Ohio's catalog of wagers and events. She said the Commission's review of such requests includes, but is not limited to, the following criteria:

The quality of the governing body's documented integrity program.

The general availability of information related to the governing body.

The professional or skill level status of athletes.

The history of integrity related to events sanctioned by the governing body.

This already puts the WWE in shaky territory, but it's seemingly locked out for good with the following consideration: "Please note that the Commission will not approve requests for wagers/events involving 'Events which are pre-recorded or in which the outcome has been otherwise previously determined.'"

Arizona and Connecticut have laws against betting on fixed outcomes

At least two states have laws in place that would ban gambling on WWE matches.

Max Hartgraves, Public Information Officer at the Arizona Department of Gaming, provided a straightforward statement: "Arizona statute prohibits gambling on fixed events."

Meanwhile, when asked how likely WWE would be to garner approval for gambling on matches, Kaitlyn Krasselt, Communications Director at Connecticut Department of Consumer Protections, said "I cannot speculate on that." That said, she did inform Wrestling Inc. about state regulations on gambling: "Connecticut law only allows wagering on sporting or athletic events. WWE is sports entertainment. The 'matches' are predetermined by the company and are scripted. There is no regulation body for professional wrestling, and WWE is one of several companies that offers this type of entertainment. With a predetermined outcome, this would not be considered a sport. It is considered entertainment. Wagering on the Oscars, for example, is also not permitted in Connecticut."

That last part is significant, since CNBC's report mentioned that WWE executives were using Oscar betting as an example for regulators.

Maine and Montana agree with most of their colleagues

Two states specifically cited the statements from Colorado, Indiana, Michigan, and New Hampshire in their responses. After hearing that four other states had expressed skepticism over betting on WWE, Maine Gambling Control Unit Executive Director Milton Champion said, "On the surface, without looking into the matter, I would concur with my colleagues. Operators will submit with their application events that they want to take wagers on, and I shall approve them."

Daniel Iverson, Content Manager for the Montana Lottery, said something similar. "Montana does not intend to add WWE markets, for the same reasons our counterparts cited," he advised, before directing any questions on state law to the Montana Department of Justice Gambling Control Division.

New Jersey and Massachusetts punted, for now

Two states we contacted declined to comment on the matter, not wanting to address issues that haven't come before them yet. Thomas Mills, Communications Division Chief of the Massachusetts Gaming Commission, said, "I appreciate your question, but am unable to speculate on a hypothetical action the Commission may or may not take."

Dan Prochilo, Public Information Officer at the New Jersey Attorney General's Office, responded that "The Division of Gaming Enforcement (DGE) cannot comment on any hypothetical discussion with an operator or league about future sports betting opportunities." He added that "In New Jersey, an entity seeking permission for a contest to be authorized for wagering on a sports event is required to submit its proposal to DGE for evaluation and approval pursuant to state law and regulations."

Prochilo also provided the state's legal definition of a "sports event" for the purposes of gambling. Notably, it includes the phrase "A 'sports event' shall include any live competition or talent contest, including awards competitions[.]"

New Jersey and Massachusetts are two of the only states that allow betting on the Oscars, with New Jersey okaying it in 2019 (the first state to do so) and Massachusetts greenlighting it in 2023. It's unknown if WWE will approach either state or how each state would respond, but at bare minimum, WWE's argument to treat wrestling like the Oscars for betting purposes might carry some weight.

Washington and New Mexico illustrate the challenges of Tribal gaming

Washington is unique among the states who responded to us, in that sports wagering is only available on Tribal lands yet still regulated by the state. Sports wagering was legalized, subject to terms of Tribal/State Compacts, on Tribal lands in 2020. All wagering, even online betting, must take place on Tribal lands, and each casino decides bets within certain limitations. The Angel of the Winds Casino and Resort and the ilani Casino Resort, for example, don't 100% overlap on sports offered for betting.

But WWE, or any wrestling, won't be joining those offering under current rules and regulations. Dan Wegenast, Agent In Charge for the Tribal Gaming Unit of the Washington State Gambling Commission, pointed Wrestling Inc. towards the Tribal/State Compacts for sports wagering. He also stated that "Washington State law and the Tribal/State Compacts for sports wagering ... prohibit wagers on events with known outcomes."

To further illustrate the complications of garnering approval for gaming on Tribal lands, a representative from the New Mexican Gaming Control Board told Wrestling Inc. that sports betting is illegal in their state, but legal with some Tribes. That said, New Mexico does not regulate Tribal gaming, meaning that approval would likely have to be worked out with each Tribe individually.

There are other obstacles, too

It's worth noting that gambling laws are constantly changing. Many states without gambling –- such as North Carolina -– have spent years hammering out legislation that would approve gambling off Tribal lands. Additionally, for states with legalized gambling, internal policies are not inherently laws, and can be subject to change under the right circumstances.

That said, even if WWE manages to get gambling on matches approved anywhere, that's only one part of the battle: They still need casinos and/or sportsbooks to be willing to accept wagers at all, and there's resistance in this field, as well, as demonstrated in subsequent coverage from CNBC. FanDuel deems it unlikely that they'd ever accept bets on WWE, noting that the Academy Awards –- which held once per year -– are vastly different than dealing with WWE's weekly programming. Additionally, when BetCEO Adam Greenblatt was asked if he had any interesting in accepting bets on WWE, he responded "NFW."

Between the overwhelming majority opinions of the 13 states who responded to Wrestling Inc., the states that have already responded, and the reluctance of sportsbooks to include anything that looks less than credible, WWE faces an increasingly uphill battle if they want to make betting on wrestling matches legal anywhere in the United States.

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Over the last couple of years, the U.S. government has become one of the largest whales of Bitcoin (CRYPTO: BTC/USD), with over 214,046 bitcoins at minimum.

The Department of Justice (DOJ) seized around 50,676.17 bitcoins (roughly $1 billion at today’s prices) in November 2021 from a Bitcoin trader named James Zhong, who defrauded darknet marketplace Silk Road.

The seizure is notable—it’s the third largest in cryptocurrency history by Crypto Briefing’s count—especially considering the amount of Bitcoin the U.S. government already has under control.

In addition to the 50,676 bitcoins seized from Zhong, the U.S. government has acquired at least 163,370 bitcoins over the last two years, totaling 214,046 bitcoins, or about $4.43 billion, minimum.

According to BitInfoCharts, only one bitcoin wallet, Binance’s cold storage wallet, contains 252,597 bitcoins, mostly belonging to Binance customers, not the exchange itself.

The U.S. government generally liquidates its Bitcoin holdings through the U.S. Marshalls Service through public auctions. Most likely, the seized bitcoins by the DOJ will be similarly offered to the public.

In November 2021, DOJ auctioned off $56 million worth of cryptocurrencies seized from a BitConnect promoter at the height of the bull market.

It is yet to be seen if DOJ will wait for bitcoin prices to bounce back before liquidating. So far, it has restrained itself from liquidating the proceeds from the Individual X and Razzlekhan confiscations.

The agency seized 69,370 bitcoins (worth $1.4 billion) from Individual X in 2020 and 94,000 bitcoins from Razzlekhan (worth $1.9 billion).

Crypto.com Exchange Suspends Withdrawals on Solana Blockchain as Crypto Prices Crash – Another Exchange in Trouble? - 10th November 2022

In an email to users on Wednesday, the platform reportedly said that they are suspending deposits and withdrawals of USDC and USDT on the Solana Blockchain, effective immediately.

The note did not mention the exact reason for the move. However, it said stablecoin withdrawals and deposits in other blockchains like Ethereum and Cronos would resume normally.

In a Thursday tweet, Crypto.com CEO Kris Marszalek said the recent developments around FTX and Alameda Research, which are two of the biggest backers of Solana, led to the decision.

"FTX was an important bridge/venue for SOL-based stablecoins, we do not want any additional risk to our users coming from this area, hence disabling it,"

"This is a critical moment for the entire industry. Transparency is more important than ever, and safety and security of users and funds remains the priority. It requires full and collective commitment,"

Kris | Crypto.com

However, some users suggested that sharing proof of reserves alone would not be enough. It is also important that crypto platforms do not trade with users' funds and be transparent with where the yield comes from.