As the digitalization of money becomes increasingly mature worldwide, a significant new development is emerging in the stablecoin market. According to reports, over 100 financial and technology institutions, including Visa and Stripe, have joined forces to form the Open Standard alliance, which is expected to launch the US dollar stablecoin Open USD later this year.

Around 20 years ago, current-account imbalances were an important issue in the global economy. The current account comprises imports and exports of goods and services, as well as the difference in returns on cross-border investment, with the former being the main component.

Recently, Interactive Brokers announced that users can now connect large language models like ChatGPT, Claude, and Grok directly to their investment accounts for market research, portfolio analysis, and even trade generation. Large language models are evolving from conversation tools that simply answer questions and generate content into intelligent agents capable of calling external tools, connecting to real-world systems, and participating in complex decision-making.

After pouring away the remaining half bottle of distilled water, you put the plastic bottle, with its cap and label still attached, into the brown bin on the street corner. As far as you are concerned, that is the end of the bottle’s story.

In recent years, a wave of artificial intelligence (AI) has swept the globe, and the popularization of generative AI has led to a sharp increase in demand for compute resources. Behind the impressive models and products, the infrastructure underpinning this technological revolution is an array of data centres located across the world.

In the past, buying things online was a bit like going on a blind date. First, you check out the photos—mm, looking sharp. Then, you read the bio—genuine, professional, and trustworthy. Finally, you look at the reviews—five stars, repurchased three times, buy it with your eyes closed. So, you place the order, silently whispering to yourself: ‘Even though we’ve never met, I’m willing to bet you’re not a catfish.

Recently, the China Securities Regulatory Commission (CSRC) introduced a new plan to rectify problems in cross-border securities, futures, and fund business activities. With the support of the Securities and Futures Commission of Hong Kong and the Hong Kong Monetary Authority, the rules governing the opening of securities investment accounts in Hong Kong by Mainland clients were also updated simultaneously.

Whenever monumental news breaks, I tend to use this column to examine a basic principle. SpaceX’s current bid to come to market in what could be the largest initial public offering (IPO) in history undoubtedly highlights an enduring tug of war in the world of valuation: narrative vs numbers.