International

Bitcoin surges to $46,905 driven by market expectations of SEC approval for ETFs

Bitcoin is trading at $46,905 as of 2:47 p.m. this Monday, driven by market expectations regarding the possible approval of spot exchange-traded funds (ETFs) tracking the cryptocurrency by the U.S. Securities and Exchange Commission (SEC), according to CoinMarketCap data.

Many cryptocurrency enthusiasts assume that the SEC will give the green light on January 10 to several of the 14 Bitcoin ETFs (financial assets replicating the movements of an index in secondary markets) that have applied for approval. As a result, they have been acquiring satoshis, anticipating that the event will further boost the price.

The recent increase is largely attributed to this expectation-driven buying. However, a significant surge is expected upon the launch of indexed funds, as they would immediately bring a substantial amount of capital (demand) into the market.

Guillermo Contreras, CEO of Ditobanx, a Salvadoran fintech based on Bitcoin, explained to this outlet that increasing demand in this way causes the price of the cryptocurrency, which is a deflationary currency with a limited supply, to rise.

In practice, interested parties bring their capital in fiat currency to the companies that own the funds. These companies then purchase Bitcoin and issue a series of shares to investors that represent ownership of the cryptocurrency. The fund will track the path of Bitcoin, but individuals or companies will not have directly invested in the digital asset.

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International

Florida judge sets 2027 trial in Trump’s $10 billion lawsuit against BBC

A federal judge in Florida has scheduled February 2027 for the trial in the lawsuit filed by U.S. President Donald Trump against the BBC, in which he is seeking $10 billion in damages for defamation.

Trump accuses the British broadcaster of airing a misleading edit of a speech he delivered on January 6, 2021, which, he says, made it appear that he explicitly urged his supporters to attack the U.S. Capitol in Washington.

The president filed the suit in December in federal court in Florida, alleging defamation and violations of a law governing business practices when the program was broadcast ahead of the 2024 election.

Trump is seeking $5 billion in damages for each of the two claims.

Lawyers for the BBC unsuccessfully asked the court to dismiss the case, arguing that Trump had not suffered a “legally recognizable harm,” since the investigative program Panorama, which included the edited footage, aired outside the United States.

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International

Head-of-state diplomacy key to guiding China–U.S. ties, Beijing says

Head-of-state diplomacy plays an irreplaceable strategic guiding role in China–United States relations, Chinese Foreign Ministry spokesperson Lin Jian said on Thursday during a regular press briefing, when asked about high-level exchanges between the two sides.

Lin added that in a recent phone call, U.S. President Donald Trump once again expressed his intention to visit China in April, while Chinese President Xi Jinping reiterated his invitation.

Both sides remain in communication regarding the matter, the spokesperson said.

Lin noted that the essence of China–U.S. economic and trade ties lies in mutual benefit and win-win outcomes.

“Both parties should work together to implement the important consensus reached by the two heads of state, injecting greater certainty and stability into China–U.S. economic and trade cooperation, as well as into the global economy,” he said.

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International

Trump administration to end special immigration operation in Minnesota

The administration of Donald Trump is bringing to a close its special operation targeting illegal immigration in the northern state of Minnesota, border czar Tom Homan announced Thursday, following weeks of unrest and the fatal shootings of two activists by federal agents.

Thousands of federal officers had been deployed to Minnesota in December to carry out large-scale raids against undocumented immigrants.

The operations triggered strong reactions from residents and advocacy groups, leading to daily confrontations and the deaths of two people who were shot by federal agents.

“I proposed, and President Trump agreed, that this special operation should end in Minnesota,” Homan said during a press conference in the state capital, Minneapolis.

“A significant drawdown began this week and will continue into next week,” he added.

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Homan indicated that similar enforcement efforts could be launched in other cities.

“Next week we will redeploy the agents currently here back to their home stations or to other parts of the country where they are needed. But we will continue to enforce immigration laws,” he said.