News

Jinse Finance reported that Citigroup stated the bullish momentum in the US stock market continues to weaken, and this trend is also reflected in European markets across the Atlantic. European stock market investors are facing political turmoil in France, while the European Central Bank is expected to keep interest rates unchanged for the second consecutive time this Thursday. In a report, Citigroup pointed out: "Bullish positions in the US continue to decline, and the normalization levels of the S&P 500 Index and the Russell 2000 Index are both falling, although there is still some new risk capital flowing into the market." The report added, "Positions in the Nasdaq Index are more resilient, with bullish levels remaining high." The bank believes that recent US labor data has increased the likelihood of a Federal Reserve rate cut.

ChainCatcher News: Egypt-based fintech platform Munify has completed a $3 million seed round, led by Y Combinator, with participation from Digital Currency Group (DCG) and BYLD. According to the introduction, Munify is a blockchain fintech platform targeting the Middle East and North Africa (MENA) region, offering global, mobile-first fund management services. The platform provides multi-currency non-custodial accounts, real-time cross-border payments, virtual USDC cards, and remittance services supporting stablecoins.