Bhutan’s state-owned Druk Holdings touts digital assets as one of its focus investment groups.
A picturesque landlocked nation between India and China has amassed bitcoin (BTC) holdings worth over $780 million in the past few years, nearly one-third of its gross domestic product (GDP) and the fourth-largest state-owned stash, according to on-chain analytics tool Arkham.
Bhutan, nestled in the Himalayas, considers its fewer than 900,000 citizens’ happiness a better measure of the country’s well-being than money. It is the second nation after El Salvador to officially hold BTC, in this case as part of the state-owned Druk Holdings fund.
“Bhutan has constructed Bitcoin mining facilities in multiple locations, with the largest being on the site of the now-defunct Education City project,” Arkham said in an X post. “Unlike most governments, Bhutan’s BTC does not come from law enforcement asset seizures, but from Bitcoin mining operations, which have ramped up dramatically since early 2023.”
These mines are likely related to mining giant Bitdeer (BTDR). In 2023, the Singapore-based company said it would work with the Bhutan government to establish cryptocurrency mining operations in Southeast Asia and raised over $500 million for the venture. Shortly afterward, Bitdeer said it had built a 100 megawatt (MW) facility in the first phase of the company’s project.
In April 2024, Bitdeer said it was working on expanding Bhutan’s mining capacity to 600MW in 2025.
Bhutan, which is smaller than Switzerland, has little economic diversification and nascent private sector development. It relies on hydropower, tourism and agriculture for revenue. Gross domestic product, the value of all finished goods and services made in the country, was just under $3 billion in 2022, about half that of the Maldives.
But Druk is pushing into various sectors to expand the country’s coffers. Its site shows “digital assets” as one of the primary focus areas in a technology-driven investment strategy, including hydropower projects and metaverses.
The Druk wallets tracked by Arkham show brisk deposit and withdrawal activity in the past few weeks. It has received up to 2 BTC from Foundry, another miner, and other unidentified Bitcoin addresses several times over the past week.
It has periodically sent bitcoin to other addresses and sometimes to crypto exchanges: A transaction from early July shows a tranche of over $25 million worth of BTC was sent to crypto exchange Kraken, where it was likely sold.
Vào giữa tháng 8, Yimeishang (YMS), thuộc Tập đoàn Yifei, đã tổ chức thành công “Triển lãm Sản phẩm Tiêu dùng và Kênh YMS lần thứ 14 năm 2024” tại Trung tâm Hội nghị và Triển lãm Grand Hangzhou.
Sự kiện đã quy tụ hơn 1.000 nhà triển lãm về các sản phẩm xu hướng, hơn 50.000 kênh phân phối và khách tham quan chuyên nghiệp, hơn 100 nền tảng thương mại điện tử, hơn 500 người có ảnh hưởng trong ngành, và hơn 10.000 khách mua hàng VIP chuyên nghiệp từ ngành làm đẹp và thời trang, nhằm tìm kiếm những cơ hội mới trong thương mại điện tử và thúc đẩy sự phát triển kinh doanh.
Gần 40.000 Khách Tham Quan Chuyên Nghiệp Tham Dự, Tiết Lộ Xu Hướng Mới và Thúc Đẩy Sự Phát Triển của Ngành
Năm 2024, ngành công nghiệp làm đẹp và thời trang toàn cầu đang đối mặt với những thách thức lớn hơn bao giờ hết. Nguyên nhân gốc rễ bao gồm nhu cầu tiêu dùng gia tăng, lượng truy cập giảm, chi phí vận hành tăng cao và sự đồng nhất của sản phẩm, tất cả đều tạo ra những rào cản mới cho sự phát triển của các doanh nghiệp trong ngành.
Với hơn 20 năm kinh nghiệm là nền tảng dịch vụ cho ngành công nghiệp sản phẩm tiêu dùng làm đẹp và thời trang toàn cầu, YMS, bao gồm hơn 1 triệu người hoạt động trong ngành, đã nhanh chóng nhận diện các thách thức này và tổ chức “Triển lãm Sản phẩm Tiêu dùng và Kênh YMS lần thứ 14”. Triển lãm này đã trở thành một chất xúc tác mạnh mẽ, mang đến cảm hứng và định hướng cho các chuyên gia trong ngành để vượt qua thách thức và thúc đẩy ngành công nghiệp làm đẹp và thời trang bước vào kỷ nguyên phát triển mới.
Đáng chú ý, đây là sự kiện khai mạc đầu tiên với tên gọi mới “Triển lãm Sản phẩm Tiêu dùng và Kênh YMS” và là lần đầu tiên YMS tổ chức tại Trung tâm Hội nghị và Triển lãm Grand Hangzhou. Theo ban tổ chức, triển lãm kéo dài ba ngày đã thu hút 37.206 khách tham quan chuyên nghiệp, minh chứng cho sự phổ biến của sự kiện.
Song song với đó, sáu hội nghị chuyên đề đã được tổ chức, bao gồm Hội nghị Làm Đẹp và Thời Trang Toàn Cầu “Lưu Lượng Mới & Kênh Mới”, Hội nghị Tiếp Thị KOL lần thứ hai của Tiểu Hồng Thư, Hội nghị Thương mại Điện tử Trực tiếp lần thứ hai, Hội nghị Sản phẩm Tốt Trung Quốc lần thứ hai, Hội nghị Tăng trưởng Bán lẻ Trực tiếp lần đầu tiên, và Hội nghị Thương mại Điện tử Xuyên Biên Giới lần thứ hai. Hơn 200 nhà sáng lập và giám đốc điều hành của các công ty hàng đầu trong ngành sản phẩm tiêu dùng làm đẹp và thời trang đã tham dự sự kiện, nơi các đối tác trong chuỗi cung ứng, thương hiệu, kênh phân phối, các agency người có ảnh hưởng (MCN), và các nhà cung cấp dịch vụ đã cùng nhau chia sẻ triết lý kinh doanh và các hiểu biết về xu hướng, nhằm cung cấp sức mạnh cho các chuyên gia trong ngành khám phá những nguồn lưu lượng mới, mở ra các kênh mới và đạt được những đột phá mới. Trong thời kỳ vàng son của tiếp thị số, với thị trường gia tăng do Internet tạo ra, cuộc chiến về lưu lượng đã chính thức bắt đầu.
YMS tin rằng ngành công nghiệp cần quay trở lại hàng đầu tiếp xúc với người tiêu dùng. Như Giám đốc điều hành YMS Qian Qiu đã nói: “Khi chúng ta quay trở lại với ‘Nguyên tắc Suy nghĩ Đầu Tiên’ và tập trung vào người tiêu dùng, chúng ta có thể đạt được nhiều thành công.” Ví dụ, tối ưu hóa sản phẩm, kịch bản live-streaming, chiến lược quảng bá, trang trí studio và tài liệu thúc đẩy lưu lượng trong các buổi live-streaming; cải thiện tài liệu nội dung, hình ảnh, sao chép và tích hợp công cộng và riêng tư trong thương mại điện tử trên kệ; và phát triển sản phẩm sâu hơn, đề xuất từ những người có ảnh hưởng và vận hành nội dung để xây dựng tính cạnh tranh thương hiệu.
Ngoài ra, nhiều sự kiện như Lựa chọn Người Có Ảnh Hưởng Toàn Cầu, Phiên Kết Nối Đặc Biệt Nền tảng Thương mại Điện tử Nội địa, Phiên Kết Nối Đặc Biệt Nền tảng Thương mại Điện tử Xuyên Biên Giới, và Phiên Kết Nối Đầu Tư của Người Có Ảnh Hưởng đã kết thúc thành công, mang lại hơn 10.000 ý định hợp tác.
Phát Triển Cùng Thời Đại, YMS Trở Thành Nhà Cung Cấp Dịch Vụ Chính Thức Cho Nền Tảng Thương Mại Điện Tử Tiểu Hồng Thư
Trong khuôn khổ Triển lãm Sản phẩm Tiêu dùng YMS lần thứ 14, ba buổi tiệc đêm – Đêm Nhà Sáng Lập do Hongzhi, TUCO và Tập đoàn Hezhong đồng tài trợ; Lễ Trao Giải Thưởng Ngành Làm Đẹp và Thời Trang 2024 và Tiệc Tối Xã Giao do Inno Aesthetics tài trợ độc quyền; và Giải thưởng Lưu lượng Toàn kênh năm 2024 do GREENLAB và Meiqingxu đồng tài trợ – đã kết thúc thành công. Các sự kiện này thu hút gần một ngàn người tham dự từ các chuỗi cung ứng của ngành, các thương hiệu tiêu dùng mới, các thương hiệu làm đẹp, các nhà bán lẻ trực tuyến và ngoại tuyến, những người có ảnh hưởng/agency MCN và các nhà cung cấp dịch vụ, với hơn 1.200 giải thưởng trong ngành được trao tặng.
Đáng chú ý, Bộ Thương mại Quốc tế Vương quốc Anh đã khởi xướng thành lập Liên minh Thương hiệu Làm Đẹp Vương quốc Anh, nhằm thúc đẩy kết nối giữa các thương hiệu Vương quốc Anh với các doanh nghiệp và người tiêu dùng Trung Quốc, đồng thời tạo điều kiện cho sự hợp tác và chia sẻ nguồn lực giữa các thương hiệu và đối tác của Anh và Trung Quốc.
Như là hoạt động quảng bá đầu tiên của liên minh, Bộ Thương mại Quốc tế Anh đã hợp tác với nhiều thương hiệu để thành lập Khu Gian hàng Vương quốc Anh tại triển lãm, trưng bày các sản phẩm sáng tạo về tính bền vững và vẻ đẹp tự nhiên, bao gồm nước hoa, chăm sóc da, chăm sóc tóc, thực phẩm bổ sung sức khỏe, chăm sóc cá nhân và trang điểm.
Hơn nữa, với sự thương mại hóa ngày càng tăng của Tiểu Hồng Thư, nền tảng này đã nổi lên như một động cơ tăng trưởng mới cho các doanh nghiệp và thương hiệu. Nhận ra xu hướng này, YMS đã liên tục thích ứng để nắm bắt cơ hội tăng trưởng mới, nỗ lực cung cấp các dịch vụ tốt hơn cho khách hàng và giúp họ phát triển cùng với thời đại. Do đó, trong Đêm Làm Đẹp và Thời Trang, một thông báo đầy phấn khích đã được đưa ra – YMS chính thức trở thành nhà cung cấp dịch vụ cho Nền tảng Thương mại Điện tử Tiểu Hồng Thư. An Xi, Giám đốc Phát triển Thương mại Điện tử của Tiểu Hồng Thư, đã trao giải thưởng cho YMS, đại diện là Giám đốc điều hành Qian Qiu.
Hơn nữa, xu hướng xuyên biên giới đã tỏa sáng rực rỡ trong năm 2024. Trong phân khúc Đông Nam Á, YMS đã vinh danh những KOL có ảnh hưởng nhất và các agency MCN hàng đầu từ Việt Nam, Thái Lan, Singapore và Malaysia với các giải thưởng “KOL Có Ảnh Hưởng Nhất” và “Agency MCN Xuất Sắc Đông Nam Á”. Thêm vào đó, Giám đốc điều hành YMS Qian Qiu, Sĩ quan Thương mại của Bộ Thương mại Quốc tế Canada Wang Xiaoyi, CMO của Inno Aesthetics Zhang Kai, người nổi tiếng Indonesia Sarwendah, người dẫn đầu livestreamer Việt Nam N.Paia, người có ảnh hưởng hàng đầu về làm đẹp và chăm sóc da Blackmilk, blogger nổi tiếng về chăm sóc da mụn Cui Jianan, KOL nổi tiếng Li Yang, và đối tác kênh nổi tiếng “Nhà chăm sóc da Dajuan” đã cùng nhau chứng kiến sự ra mắt của “Kế hoạch Sản phẩm Mới YMS Global Treasure”.
First launched in 2018, the iPhone Index is an annual ranking by international e-commerce platform Picodi, published with each new Apple release. The index compares the official price of iPhones in various countries with the average income reported by national statistics agencies. It then calculates how many working days (based on 21 days per month) are needed to buy the latest iPhone.
Vietnam made its debut on the iPhone Index in 2023 after the launch of Apple’s Online Store in the country.
This year, to purchase the iPhone 16 Pro (128GB), the average Vietnamese worker needs to save up for 53.1 working days—equivalent to about 2.5 months’ salary. This places Vietnam 4th among countries where workers must work the longest to afford the new iPhone. In comparison, last year, it took 55.6 working days for Vietnamese workers to afford the iPhone.
Ranking of the number of working days needed to own the 128GB version of iPhone 16 Pro (Source: Picodi)
However, according to the General Statistics Office, the average monthly income in Vietnam for the first half of 2023 was 7.5 million VND. With the iPhone 16 Pro priced at 28.99 million VND, Vietnamese workers may actually need around 81 working days—nearly four months’ salary—to afford the device.
At the top of the list is Turkey, where workers need 72.9 working days to buy the iPhone 16 Pro. This is followed by the Philippines (68.8 days) and Brazil (68.6 days).
On the other end of the spectrum, workers in Switzerland need only 4 days to afford the new iPhone. The US comes in at 5.1 days, while Australia and Singapore both require 5.7 days, and Luxembourg 6.1 days.
The Ministry of Labor, War Invalids, and Social Affairs has proposed a 9-day Lunar New Year holiday for 2025, running from January 25 to February 2, 2025 (corresponding to December 26, Giap Thin year, to January 5, At Ty year in the lunar calendar).
The Ministry recently sent its proposal to relevant ministries and sectors for feedback, with plans to submit it to the Prime Minister for approval.
Unlike previous years, the ministry has suggested only one option for the 2025 Tet holiday: a 5-day official break, including 2 days before and 3 days after the New Year. The official break will begin on Monday, January 27, 2025 (December 28 of the lunar year), and end on Friday, January 31, 2025. This period covers the last days of the old year and the first three days of Tet.
In addition to the official break, the holiday will be extended by two weekends on either side. The holiday will start from Saturday, January 25, and end on Sunday, February 2, 2025. This extension gives civil servants and public employees a 9-day break in total, combining 5 official days and 4 weekend days.
During this period, employees working overtime or at night are entitled to a minimum of 300% of their regular salary. Foreign workers in Vietnam may also receive an additional holiday for their national celebrations outside of the country’s official schedule.
Tết Nguyên Đán, commonly known as Tết, is the Vietnamese Lunar New Year and the most important celebration in Vietnamese culture. It marks the arrival of spring based on the lunar calendar, typically falling between late January and early February. Tết is a time for family reunions, paying respect to ancestors, and welcoming the new year with hope, happiness, and prosperity.
Markets are seeing a nearly 70% probability of a bigger 50 bps rate cut to the 4.7%-5% range, up from 25% a month ago.
Bitcoin (BTC) and broader crypto markets have changed little in the past 24 hours as traders await a Federal Open Market Committee (FOMC) meeting on Wednesday, where officials are expected to announce their first rate cuts in four years.
Bitcoin is trading below $58,500 at $58,480 and is relatively flat. The CoinDesk 20 (CD20), a measure of the largest digital assets, is up slightly, trading above 1,800.
Daily inflows into the bitcoin exchange-traded funds (ETFs) came in at $12.9 million, with most going to BlackRock’s IBIT.
The Fed is widely expected to announce an interest rate cut on Sept. 18, kicking off the so-called easing cycle, which has historically supported risk assets, including bitcoin.
As of Asian morning hours Tuesday, the 30-Day Fed Funds futures prices show traders see a 67% probability of big 50 bps rate cut to the 4.7%-5% range. This is a bump from Monday’s 50% implied probability and a large jump from the 25% probability from a month ago.
On Polymarket, traders are giving a 57% chance of a 50+ bps decrease and a 41% chance of a 25 bps decrease.
Elsewhere, the market remains fairly flat. Notable movers include XRP up 3.5%, SUI up 2.5%, and Fantom’s FTM, up 10.5% on continued positive market sentiment from its upcoming re-brand to Sonic.
Trump’s World Liberty Financial to launch WLFI token
On a livestream spanning over two hours, the team behind World Liberty Financial, a project endorsed by former President Donald Trump and his family, confirmed that it was launching a governance token – but only for accredited U.S. investors.
The team emphasized that the token is for governance participation, not economic gain, and did not share a specific launch date during their X Spaces stream.
During the livestream Trump did not mention the token itself or give an endorsement, but rather shared his general views on crypto policy, most of which was a repeat of what he shared during prior public appearances such as at the recent Bitcoin Conference in Nashville.
Figure Markets launches exchange with real estate-backed yield
Crypto exchange Figure Markets is launching on the sidelines of Token2049 in Singapore. Figure, which was founded by SoFi co-founder Mike Cagney, has a unique way of generating yield for those that keep their crypto on the exchange.
Figure says it will be able to offer returns of up to 8% for non-USD and stablecoin balances by leveraging a fund backed by real-world assets, such as home equity loans, according to a release.
Traders on the exchange deposit funds into Figure Markets, which are pooled and lent to Figure Technologies to issue secured home equity loans, a release explains. Borrowers pay interest on these loans, creating a spread that covers costs and provides returns to investors, who benefit from dual recourse protections, daily liquidity, and interest payments that accrue based on the length of their investment.
While Real World Assets (RWAs) are a growing part of crypto, there are very few applications in the industry that attempt to derive yield from them to finance their operations.
In 2023, before the launch of Figure, Cagney withdrew the company’s bid for a U.S. federal bank charter after regulatory scrutiny, opting to focus on partnerships with established banks instead.
On September 12, the search and rescue team, supported by five sniffer dogs from Border Guard Intermediate School 24, conducted a vital search for missing victims in the aftermath of the devastating flood in Phuc Khanh Commune, Bao Yen District, Lao Cai Province.
Border Guard Intermediate School 24 is renowned for its elite sniffer dog training program. These specially trained dogs are highly skilled in locating people, even when buried deep under mud or debris. Their sharp senses and rigorous training have significantly improved the efficiency of rescue operations in Nu Village.
Thanks to the ability of sniffer dogs to detect scents, the authorities have identified two locations with signs that require focused searching.
Accordingly, these are police dogs that have participated in many missions to search for missing people at: Rao Trang 3 Hydropower Plant; Defense Economic Group 337; Tra Leng landslide in 2020; Earthquake in Turkey in February 2023.
Chilop is the most active dog among the five sniffer dogs.In hot weather, the search team let the dogs rest and drink water every 30 minutes to stay healthy.
Three of the five dogs were dispatched to the downstream areas, where thick mud deposits from the flood have complicated the search efforts. After pinpointing the possible locations, heavy machinery was brought in to begin excavation.
Trainer wipes mud from Olat’s nose after hours of searching.Thanks to sniffer dogs detecting suspicious signs, border guards identified two locations to focus their search on.2 meters from the marker, the authorities found a body. Expanding the search area 20 meters around, they discovered 4 more bodies.
The flash flood, which struck on September 10, caused severe damage to both lives and property, leaving many villagers unaccounted for. The search operation continues, with specialized rescue teams working tirelessly to locate the remaining victims.
According to a recent survey by global travel company Flight Centre, Vietnam has been honored to make the list of the top 10 best countries in the world for tourists.
Ha Long Bay – the place known as the “jewel in the crown” of Northern Vietnam. Photo: Pham Ha.
Flight Center, one of the largest travel agencies in Australia, analyzed feedback from over 170,000 travelers from Australia, New Zealand, South Africa, Canada, and the UK to determine the top 10 most highly-rated countries and cities of the year.
According to Flight Center’s rankings, Vietnam was named among the top 10 countries for travelers, alongside other nations such as Portugal (1st), the Cook Islands (2nd), Australia (3rd), Japan (4th), Spain (5th), Singapore (6th), Greece (7th), Ireland (8th), and Turkey (9th).
Ha Long is considered by international tourists as a must-see destination when coming to Vietnam. Photo: Vietnamlocaladventures.
Andrew Stark, CEO of Flight Center Global, remarked, “There were some surprising results, showing that traditional popular destinations don’t always offer something special for tourists.”
Flight Center highlights Vietnam’s appeal through its famous destinations: “Immersed in the charming atmosphere of elegant Hanoi, visitors will find it a unique capital, unlike any other in Asia.”
Continuing on to Ha Long Bay—described as ‘the jewel in the crown ‘ of Northern Vietnam—tourists will experience an incredible voyage aboard traditional sailing boats. The bustling, modern Ho Chi Minh City is particularly captivating with its historical landmarks”.
Hoi An is a popular destination for international tourists. Photo: Elvietnamitablog.
In an article describing Vietnam, Flight Center wrote, “Vietnam is a gem of Southeast Asia—a safe, affordable, and rich experience suitable for travelers of all ages and abilities. The country boasts pristine local villages, numerous UNESCO World Heritage sites, and fresh, abundant local cuisine that will surprise you. Vietnam is the perfect destination for experiencing a harmonious blend of ancient towns and international cities.”
Flight Center also highlighted that one of the main highlights of a trip to Vietnam is its cuisine. Think of fresh, aromatic dishes with enticing flavors such as fish sauce, lemongrass, ginger, chili, soy sauce, and cilantro. The agency recommended must-try Vietnamese dishes including pho, banh mi, banh xeo, chicken rice, bun cha, egg coffee, coconut coffee, condensed milk coffee, spring rolls, cao lau, and balut.
“Dynamic yet graceful, Vietnam’s classic charm will gradually grow on and win over travelers, especially through cross-country tours connecting lively cities with the romantic Ha Long Bay and the nostalgic beauty of Hoi An,” Flight Center noted.
The French newspaper Le Figaro recently released a documentary titled “Panorama of Vietnam: A Feast for the Senses,” highlighting the beauty of the country and its people.
With vivid imagery and sound that reflects various aspects of daily life, the 52-minute documentary by director Eric Bacos takes viewers on a journey through Vietnam.
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Bacos guides the audience from the dynamic economic center in the South, through the Mekong Delta, and up to the North in Hanoi. Vietnam is described by the French publication as a country “stretching like a dragon along the East Sea.”
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The film also likens Vietnam to “a diverse painting, with majestic natural landscapes ranging from terraced rice fields to the impressive limestone islands of Ha Long Bay.”
Through this colorful film, director Eric Bacos takes viewers on a journey across Vietnam, which he promises will undoubtedly become a “feast for the senses”.
According to the Vietnam Railways Corporation (VNR), Storm No. 3 has caused significant economic damage to the railway sector, with estimated losses of over 4 billion VND due to the cancellation of 41 train trips and the refunding of tickets for 18,120 passengers.
Storm No. 3 and its circulation have severely affected the railway industry. Photo: VNA
As a result of Storm No. 3 (Yagi), from September 7 to 12, heavy rain and strong winds caused severe damage to railway infrastructure on the North-South line and northern routes, significantly affecting freight and passenger transport, according to VNA.
By September 12, major railway lines such as Hanoi – Ho Chi Minh City and Yen Vien – Lao Cai were severely impacted by the storm. Fallen trees, broken power poles, and flooded equipment causing significant disruptions to railway traffic.
The Yen Vien – Lao Cai line was the hardest hit, with 15 locations where trees and poles had fallen onto the tracks. Many areas experienced deep flooding, landslides, and debris covering the railway tracks and drainage ditches. Currently, units are concentrating all resources to urgently restore operations.
Vietnam Airlines Group (comprising Vietnam Airlines, Pacific Airlines, and VASCO) has just announced the early sale of nearly 1.5 million seats across its domestic flight network for travel between January 13 to February 12, 2025 (from the 14th of the lunar December to the 15th of the lunar January).
As usual, the peak routes for Tet Lunar New Year 2025 on Vietnam Airlines will focus on flights between the three major cities of Hanoi, Da Nang, and Ho Chi Minh City, connecting with various provinces such as Hai Phong, Vinh, Thanh Hoa, Hue, Quy Nhon, Nha Trang, Pleiku, Da Lat, Buon Ma Thuot, Phu Quoc, and more. Passengers can purchase Tet 2025 tickets starting today (September 16) through the website, mobile app, ticket offices, or official agents of Vietnam Airlines.
Vietnam Airlines Group opens first sale of 1.5 million seats for Lunar New Year 2025
A representative from Vietnam Airlines stated: “This is the first round of ticket sales based on the currently approved flight schedule by the authorities. Vietnam Airlines and its partners will continuously monitor market demand, the availability of aircraft, and slot allocation from the Civil Aviation Authority to open additional ticket sales in the coming rounds, making it convenient for travelers to plan their trips.”
To ensure convenient travel and secure preferred itineraries, Vietnam Airlines encourages passengers to plan and book tickets early. Additionally, to avoid counterfeit tickets or inflated prices during the Tet peak season, the airlines also recommend purchasing tickets through the website, mobile app, official ticket offices, and authorized agents.
“The shortage of aircraft due to the engine recall orders from manufacturer Pratt & Whitney affects Airbus A321NEO aircraft is expected to put pressure on supply during the Tet Lunar New Year 2025. We are actively working with authorities to increase flights, considering leasing additional aircraft, and expediting the delivery and introduction of new aircraft such as Boeing 787-10 and Airbus A320 to Vietnam by the end of the year to maximize transport capacity and provide more seats for passengers,” a representative from the national airline added.
Preliminary surveys show that as soon as the sale opened, ticket prices for some popular routes during Tet Lunar New Year were high.
For example, on January 25, 2025 (26th lunar December), tickets from Ho Chi Minh City to Hanoi across all time slots were priced at a minimum of over VND 3.7 million for economy class, while the cheapest business class tickets were nearly VND 9 million per way. On the same day, flights from Ho Chi Minh City to Da Nang had the lowest economy class fare at nearly VND 2.5 million per way, while business class tickets started at VND 5.1 million per way. The Ho Chi Minh City – Thanh Hoa route, which typically sells out quickly, had only one flight available in this first round of sales, with economy class tickets priced at VND 3.7 million per way.
“Rarely has the market gone into the Fed meeting with maximum uncertainty (halfway between 25bps and 50bps),” Marc Chandler, chief market strategist at Bannockburn Global Forex
The coming week is shaping up to be that rare one when markets are left guessing about the Federal Reserve’s impending interest rate move. The peak uncertainty seems to have put brakes on bitcoin’s (BTC) price bounce.
The Fed is widely expected to announce an interest rate cut on Sept. 18, kicking off the so-called easing cycle, which has historically supported risk assets, including bitcoin.
Traders, however, are split on the size of the impending rate cut, setting the stage for a potential volatility explosion in financial markets after Wednesday’s rate decision. At press time, the Fed funds futures showed a 50% chance of the Fed reducing rates by 25 basis points (bps) to the 5%-5.25% range. At the same time, markets saw a similar probability of a bigger 50 bps rate cut to the 4.7%-5% range.
Bitcoin’s upward momentum from recent lows of $52,530 has stalled amid the rate cut uncertainty. The leading cryptocurrency by market value has pulled from $60,660 to $58,700, at the time of writing.
“Rarely has the market gone into the Fed meeting with maximum uncertainty (halfway between 25bps and 50 bps),” Marc Chandler, chief market strategist at Bannockburn Global Forex and author of “Making Sense of the Dollar,” told CoinDesk in an email.
“I suspect a 50 bps cut would not be good for risk assets on ideas that the Fed is more concerned about the economy and would seem to be acknowledging that it should have cut in July,” Chandler added.
Several analysts have warned that a 50 bps cut could signal panic, denting demand for riskier assets, including cryptocurrencies. The probability of a 50 bps cut rose last week after Wall Street’s Journal’s Nick Timiraos published an article the size of the rate cut was up for debate. A few Fed policymakers also raised the specter of a bigger move, bringing cheer to risk assets.
“The market had been settling on a 25 bps rate cut before what some suspect is a planted story by Fed officials to put 50 bps back on the table Thursday. The market took the bait and ratcheted up the odds of not only one, but two half-point cuts and a quarter-point cut in the three remaining meetings of the year,” Chandler said, adding that traders should also keep an eye on the Fed’s summary of economic and interest rate projections.
“The market is currently pricing in a sub-3% Fed funds target by the end of next year. Also, at 4.3% in July (4.2% in August), the unemployment rate is at the Fed’s long-term equilibrium level. Will this be changed?,” Chandler quipped.
PLUS: Sony’s Soneium blockchain is growing, with Circle announcing that USDC will be listed on the chain.
Bitcoin (BTC) began the trading week down 3%, trading below $58,400, as the CoinDesk 20, a measure of the largest digital assets, was down 5%.
BTC spent much of the weekend over $60,000 after favorable U.S. data fueled a rise late Friday. BTC exchange-traded funds (ETFs) listed in the U.S. recorded over $263 million in net inflows – the highest since July 22 – while ether ETFs recorded their second day of inflows since August 28 at $1.5 million.
However, crypto markets slumped Monday as Asian exchanges opened for trading ahead of a key week where traders worldwide expect the Federal Reserve to make its first rate cuts in over four years.
Polymarket bettors are giving it a 51% chance of a 50 basis points cut and a 48% chance of a 25 basis point cut, while only a 2% chance of no change.
A pivot to lower borrowing costs has historically buoyed bullish sentiment among traders as cheap access to money spurts growth in riskier sectors.
Ether (ETH) led losses among majors with a 5.5% drop over the past 24 hours, per CoinGecko data, to mark its worst one-day slide since early August. Cardano’s ADA fell 5%, Solana’s SOL lost 4%, while BNB Chain’s BNB emerged as the best performer with a 1.1% loss.
Nervos’ CKB was one of the few movers in the green with a 10.5% jump in the last 24 hours on continued positive sentiment after Korean exchange Upbit – where traders have a strong taste for memecoins – listed the token.
Futures traders betting on higher prices lost over $143 million amid the sudden drop, CoinGlass data shows.
Elsewhere, the widely-watched BTC/ETH ratio, which tracks the relative movement of the two largest tokens, fell to four-year lows.
Ethereum as a protocol has had some serious competition in the last year, as Solana looks to be the destination of choice to launch memecoins, and new chains like Base and Telegram-affiliated (TON) capture more mindshare – which has likely impacted demand for ETH.
Sony’s Soneium may also provide some competition as it continues to be built out. Sony and Circle announced today that USDC would be offered on the chain. Absent from the announcement was precisely how much would be issued.
On the afternoon of September 14, Arnaud Dubrac, a French national, donned protective gloves and grabbed a broom to join dozens of volunteers cleaning up storm-damaged streets in Hoan Kiem district. Arnaud had just returned to Hanoi from Paris following Typhoon Yagi and was shocked by the widespread damage, noting fallen trees across the city, including his own neighborhood in Tay Ho district, the local media reported.
Upon learning of a clean-up campaign organized by the Hoan Kiem District Communist Youth Union, Arnaud signed up to help, collecting branches and loading them onto garbage trucks. “I want to contribute to making the city I live in more beautiful and assist the city’s response teams,” he said.
Duncan Withers, a New Zealander living in Hoan Kiem district for nearly two years, also joined the effort with his Vietnamese girlfriend. He expressed sorrow seeing the storm uproot many of the city’s old trees. On the morning of September 14, they cleaned areas around the Opera House, Co Tan Flower Garden, and Dien Hong Flower Garden, before moving to Ly Thai To Street to gather fallen branches.
Joanna Chilicka, a Polish citizen who has lived in Hanoi for eight years, said it was her first time witnessing such devastation in the city. After hearing about the volunteer recruitment, she and her friends quickly signed up. Joanna explained that after spending time in Vietnam, she came to understand the spirit of mutual support among people, which inspired her to participate. Though the work of cutting and collecting tree branches was tiring, the energy of those around her fueled her determination.
The clean-up initiative, involving both foreigners and locals, was co-organized by the Hoan Kiem District Youth Union and the tourism connection company Tubudd. Vu Thi Thai An, a representative of Tubudd, explained that the idea came after seeing fallen trees scattered across the city, while many resources were directed towards flood relief in northern provinces. “We may not be able to help with flood relief, but we can use our energy to clean up the city,” she said.
Within 24 hours of the call for volunteers, more than 200 people registered to help, with over half being foreigners. The clean-up took place on September 14 and 15 in various public spaces.
Thanh Mai, a local resident who encountered the volunteers on Ly Thai To Street, expressed her gratitude upon seeing their efforts. “As a Vietnamese, I don’t know what to say except thank you to my international friends,” she said, before rolling up her sleeves to join in, according to local media.
By September 16, storm No. 3 and resulting floods had claimed the lives of 52 students and children, with 3 students missing and 8 injured, according to Thanh Nien newspaper.
The disaster also left 3 teachers dead and 1 missing. Additionally, 99 schools across six provinces remain unable to resume classes as the floodwaters have yet to recede.
The Ministry of Education and Training reported that as of September 16, 99 schools across Lao Cai (83), Cao Bang (1), Bac Kan (3), Tuyen Quang (1), Yen Bai (3), and Bac Giang (8) were still affected by the floods. Many areas in northern Vietnam were heavily impacted by the storm, with severe flooding, collapsed buildings, and damage to teaching materials and classrooms. Several schools saw their roofs blown off, while teaching equipment and student supplies were either swept away or destroyed.
Local authorities have been instructed to continue assessing the damage and compiling reports for financial assistance. Initial reports suggest widespread destruction, including computers, desks, chairs, and other classroom equipment that are either irreparable or costly to fix. In Yen Bai province alone, nearly 20,000 students lost their textbooks, with the cost of replacement estimated at over VND 9 billion.
Students climbed onto the roof to avoid floods (Photo: Luong Nga).
Minister of Education and Training, Nguyen Kim Son, noted that while many schools in Lao Cai and Yen Bai suffered significant damage, thousands of schools have reopened thanks to local efforts. However, 17 schools in Lao Cai remain beyond repair, prompting the Ministry to propose government support to rebuild these institutions, beginning with temporary facilities.
Despite pundits declaring Kamala Harris the debate winner, a Reuters focus group of undecided voters favored Donald Trump, with six out of ten leaning towards him, while only three chose Harris. A similar trend emerged in a New York Times poll, where voters expressed trust in Trump’s handling of the economy and criticized Harris for vague answers.
Though Trump missed opportunities to more effectively counter Harris’ claims, he could have highlighted his key achievements, such as the secure border during his administration, historically low mortgage rates, and positive reforms in the military and criminal justice systems.
As polls remain deadlocked in a deeply polarized nation, the race to the White House grows tighter. Trump’s appeal lies in his established leadership and first-term accomplishments, which many voters see as a safer choice compared to Biden or Harris. Biden’s age and mixed track record play a significant role, with Harris viewed as untested in top leadership.
Amid pressure from Democratic elites, Biden faces the possibility of stepping down, reminiscent of past instances when Presidents Nixon and Johnson left office after losing party support. Republicans, meanwhile, criticize what they see as Democratic hypocrisy, accusing the party of undemocratic power moves while blaming Trump for undermining democracy.
The narrative that Trump threatens democracy has weakened, especially in light of attacks on Trump, including an attempt on his life, reinforcing the view that democratic processes themselves are under assault.
Under Trump, the economy thrived with a pro-business, low-tax approach, attracting major companies back to the U.S. from Mexico and Asia, where they had fled due to high taxes and regulations. The stock market surged, 401(k)s flourished, and jobs returned. Inflation remained low, and economic optimism reached its peak until the onset of the COVID-19 pandemic.
Despite the pandemic, Trump’s administration led the rapid development of vaccines through Operation Warp Speed, saving millions of lives globally. His handling of the economy prior to the pandemic was also unprecedented. Median household incomes reached record highs in 2019, and the poverty rate fell to its lowest ever. Employment hit a peak of 160 million, and unemployment reached a 50-year low.
Under Trump, unemployment rates for African-Americans, Hispanic-Americans, and those without high school diplomas hit record lows. Wages for blue-collar workers grew faster than those for managers. During COVID, Trump signed the largest relief package in U.S. history to protect workers and families, and the economy rebounded quickly.
Trump also made lasting changes to American law and governance. He returned the decision on abortion to the states, overturning Roe v. Wade, and appointed three Supreme Court justices. His administration oversaw a historic criminal justice reform that even Obama could not achieve.
Energy independence was another hallmark of Trump’s presidency. Under his leadership, the U.S. became the world’s largest energy producer, surpassing Saudi Arabia and Russia. His “America First” agenda, often criticized, led to greater border security and the largest tax cuts since Reagan, reviving manufacturing jobs.
Internationally, Trump’s unconventional approach saw successes. He kept the U.S. out of major conflicts, rebuilt NATO with increased contributions from allies, and improved relations with leaders like Kim Jong-un and Putin. While often accused of being soft on Russia, Trump imposed record sanctions and ended the Nord Stream 2 pipeline project.
Trump’s foreign policy defied traditional doctrines, fostering diplomacy with adversaries and reducing global tensions. When he assumed office, nuclear threats from North Korea were at their peak, but his engagement helped ease tensions and avoid potential war. His tough stance on Russia also laid the groundwork for new strategies to address the nuclear threat from Pyongyang and the ongoing conflict in Ukraine.
Trump’s growing base is drawn to his rejection of political correctness, setting him apart from establishment politicians. He is seen by many as a frank, realistic leader who prioritizes doing what is right over political gamesmanship.
As the race progresses, Trump’s legacy and influence on American politics are undeniable. Whether one supports or opposes him, his impact has reshaped the political landscape, and his second-term campaign is built on core issues that resonate with voters: economic and personal security, and ensuring their voices are heard.
In the eyes of his supporters, Trump has truly delivered on his promise to Make America Great Again, and the global ripple effects of his policies are already being felt. As he eyes a second term, he continues to bridge the gaps that matter most to the American people.
