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#JoinGrowthPointsDrawToWiniPhone17 Thankful to Meet at the Square Let’s Celebrate Thanksgiving Together! Gate Square Community Growth Value – Thanksgiving Lottery Carnival (Phase 14) is Now LIVE! This Thanksgiving season, Gate Square is giving back to the community with a special event packed with premium rewards, exciting tasks, and nonstop chances to win. Whether you're a daily participant or a new explorer, this carnival is designed to celebrate your journey, your growth, and your presence in the Square family. ✨ Start Your Lucky Draw Now: 👉 https://www.gate.com/activities/pointprize?now_period=14 🌟 How to Participate Follow these simple steps and jump right into the celebration: 1️⃣ Open the Square App and head to the Points Center 2️⃣ Complete daily tasks to earn Growth Points 3️⃣ For every 300 points, you unlock 1 lucky draw entry 4️⃣ Spin the wheel and try your luck rewards are waiting! 🎁 Thanksgiving Rewards You’ll Love This carnival brings a lineup of premium prizes that add excitement to every draw: 🎁 iPhone 17 Pro Max 🎁 Exclusive Gate Square Merchandise 🎁 Special Community Souvenirs 🎁 Surprise Gifts & More! Every spin brings a new chance and the gratitude gifts don’t stop! 📅 Event Duration 🗓 November 27 – December 07 (UTC+8) Make sure to join before the deadline and enjoy the festive celebration with the Square community. 💝 Gratitude That Keeps Giving Gate Square’s Thanksgiving Carnival is more than just an event it’s a celebration of the community that makes Web3 brighter every day. Whether you win big or collect memories, this season is all about connection, joy, and appreciation. More info 👉 https://www.gate.com/announcements/article/48423
JAPAN JUST CROSSED ONE OF THE MOST IMPORTANT FINANCIAL RED LINES IN ITS MODERN HISTORY And almost nobody is paying attention. The Bank of Japan is now sitting on ¥32.83 trillion in unrealized losses, the largest loss ever recorded by a major central bank. For the first time since the global financial crisis, the BOJ’s interest expenses are higher than its income, which means the system is no longer self-sustaining. The stress is showing up directly in the bond market: The 10-year JGB has climbed to around 1.9%, a level avoided for nearly two decades. Long bonds are breaking into uncharted territory, 30-year yields near 3.4%, and the 40-year above 3.7%. Japan’s bond market has now delivered six straight years of negative returns, the worst run across 44 tracked sovereign debt markets. The losses aren’t limited to the central bank: Japan’s four largest insurers are carrying roughly $67B in mark to market losses on domestic bonds. Regional banks hold around ¥3.3 trillion in unrealized losses. Analysts estimate banks need roughly ¥20 trillion in asset strength to be considered stable, most regional banks are nowhere close. Now adding this: Public debt is near 230% of GDP, the highest in the developed world. Inflation has been above target for over 40 consecutive months. Markets see an 80% probability of another rate hike. And the BOJ now owns over half of the entire JGB market, making meaningful unwinding nearly impossible without triggering further instability. For three decades, ultra low Japanese rates supplied the world with cheap liquidity. That mechanism is now reversing. When the carry trade breaks, global risk assets feel it long before policymakers react. This isn’t a small domestic issue, it is the unwinding of one of the largest monetary experiments ever attempted, and the effects of this will be massive.
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