Bitcoin Surges Past $125,000 as US Shutdown Ripples Globally; Shawbrook's £2B Floatation Boosts UK Fintech
Bitcoin has surged past $125,000, drawing retail investors and alternative funds. Meanwhile, the US government shutdown due to debt limit deadlock is impacting G7 countries. In the UK, fintech expansion is welcomed, but caution is advised around private equity-owned banks like Shawbrook. The company is set to return to public markets with a £2 billion floatation.
Bitcoin's recent rally has seen it climb above $125,000, with other cryptocurrencies following suit. This has attracted a wave of retail investors and alternative funds, eager to capitalise on the digital asset's volatility.
The ongoing stalemate over debt limits in Washington has led to a partial shutdown of the American government. This has ripple effects, affecting several G7 countries due to interconnected economies.
In the UK, the Shadow Chancellor, Rachel Reeves, is contemplating a bank tax in her upcoming budget. This could potentially raise the current surcharge of 3%.
Tech giant AMD is bolstering its chip supply by signing a deal with OpenAI. This will allow OpenAI to purchase up to 10% of AMD's chips.
Shawbrook, a UK-based fintech company, is set to return to public markets with an estimated £2 billion floatation on the London Stock Exchange. The company's £37 billion loan book has been built by offering credit to mid-sized borrowers struggling to access funds via traditional High Street lenders.
Bitcoin's climb above $125,000 is drawing increased investment, while the US government shutdown impacts global economies. In the UK, a potential bank tax is under consideration, and Shawbrook's return to public markets could boost the fintech sector. Meanwhile, AMD's chip supply deal with OpenAI signals a significant partnership in the tech industry.
