OneLiners
China Expands Financial Influence in Southeast Asia via CIMB
China Merchants Bank has signed a letter of intent with Malaysia's CIMB to scale cross-border payments, trade finance, settlements, and investment banking services between China, Malaysia, and ASEAN countries. The focus is on CIMB's regional network and its position in Southeast Asia. For the Chinese bank, this is a way to deepen its presence in the region through a local player and accelerate financial flows between markets. Currently, it is a framework agreement: the parameters, volumes, and timelines for launching specific products have not been disclosed.Bitcoin ETF Outflows Hit Record $2.8 Billion
Bitcoin declined amid a record series of outflows from spot ETFs in the US: over nine trading sessions, investors withdrew approximately $2.8 billion. This marks the longest series of net outflows since the funds were launched in January 2024. (CoinDesk) The largest pressure was on BlackRock's IBIT. On May 27 alone, the fund lost $527.8 million, followed by $177.9 million on May 28, and $68.2 million on May 29. The total net outflow for the market on May 29 was $125.3 million. CoinDesk notes that against this backdrop, Bitcoin appeared weaker than stocks of companies in the AI and semiconductor sectors.Coinbase Launches Direct Rupee Transactions in India
Starting June 1, cryptocurrency exchange Coinbase enabled direct deposits and withdrawals in Indian rupees for users in India via the Immediate Payment Service (IMPS). Users can transfer funds directly from their bank accounts to Coinbase and withdraw them back without using P2P services or third-party intermediaries.BlackRock Records $1.26 Billion Sale of IBIT
A major investor reportedly exited a position in BlackRock's spot Bitcoin ETF, IBIT, through an OTC deal worth $1.26 billion. On May 26, 29.21 million shares of IBIT were transferred off-exchange at $43.16 per share. The total transaction was approximately $1.26 billion. The price was $1.01 below the fund's market value of $44.17, with a discount of 2.3% and estimated execution losses of about $29.5 million.We use cookies to improve the quality of our service.
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