FINANCE

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Bitcoin extended its sharp decline Thursday as selling pressure intensified across digital asset markets, dragging the world's largest cryptocurrency below a closely watched support zone. The move mirrors broader risk-off sentiment in global markets, where U.S. equities slid amid disappointing earnings and growing macroeconomic uncertainty.

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Binance, the world's largest cryptocurrency platform, and its founder, billionaire Changpeng Zhao, are facing a US lawsuit brought by victims and families of the October 7, 2023, attacks in Israel. The legal action accuses the company of illegally facilitating the transfer of millions of dollars to US-designated terrorist organizations, including Hamas and Hezbollah.

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Crypto giant Coinbase has been hit with a hefty 21.5 million euro ($24.7 million) fine by Ireland's Central Bank, which accused the firm of severe transaction monitoring failures, including those potentially enabling criminal activities. The Central Bank of Ireland announced Thursday that Coinbase "breached its anti-money laundering and counter-terrorist financing transaction monitoring obligations between 2021 and 2025.”

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The UK's Financial Conduct Authority (FCA) has fined Barclays Bank £42 million, citing failures in its money laundering risk management processes. The FCA found that Barclays had not adequately vetted two clients, Stunt & Co and WealthTek, leading to the facilitation of "the movement of funds linked to financial crime" and "an increased risk" of money laundering.

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Financial markets plunged into chaos Monday as President Donald Trump announced sweeping 25% tariffs targeting Japan and South Korea, marking a dramatic escalation in his trade war strategy. The announcement sent shockwaves through Wall Street, with major indices experiencing their steepest declines in months. The Dow Jones Industrial Average slipped 447 points, or 1%. The S&P 500 fell 0.8%, and the Nasdaq Composite lost 0.9%. Trading floors witnessed panic selling as investors processed the implications of Trump's latest trade offensive.