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Major cryptocurrency tokens, including bitcoin and BNB, reached record highs this week amid government turmoil around the world that drove up alternative asset prices, which elated China’s crypto community as the country reconsiders digital assets such as stablecoins.

Bitcoin passed the US$126,000 level on Monday, a new all-time high for the world’s largest cryptocurrency token, before falling more than 1% to below US$124,000 on Tuesday.

BNB, the native token of the world’s largest crypto exchange Binance, also hit its own record of US$1,268 on Tuesday. The latest crypto boom propelled Binance founder Changpeng Zhao’s personal fortune to US$89.7 billion, according to a Forbes billionaire ranking.

Still, Zhao on Tuesday denied that figure, saying on social media platform X, formerly Twitter, that it was “way too high”.

While the reaction of Chinese crypto enthusiasts to bitcoin’s new high was muted on mainland social media, many celebrated the token’s latest achievement on X and envisioned an unprecedented crypto bull market.

The latest gains came as global investors flocked to assets outside major currencies such as the US dollar, which has been under pressure amid a week-long US government shutdown.

Gold prices also set another record by approaching US$4,000, having gained more than 50% since the beginning of this year.

Bitcoin’s surge “signals its role as a hedge against fiscal uncertainty, as the US government shutdown wavers confidence in safe assets”, said Nick Ruck, director at LVRG Research.

Bitcoin and gold have attracted the so-called debasement trade from investors “seeking refuge from a volatile monetary landscape”, Ruck said. Debasement trade, a term that recently gained popularity, refers to the trading strategy where investors turn to alternative assets to hedge against fiat currency devaluation.

With bitcoin prices gaining 10% over the past week amid the US government shutdown, the token’s “safe-haven appeal is reasserting itself”, digital asset trading firm QCP Capital said in a note on Monday.

The value of bitcoin has nearly doubled over the past year amid a digital asset industry boom driven by US President Donald Trump’s favourable policies towards the sector, including the US Genius Act, which aims to establish a regulatory framework for stablecoins.

These moves recently spurred intense discussions in China, where experts have called for the country to reexamine its ban on crypto amid rising US influence in digital finance.

While Beijing has given no indication that it will loosen its grip on cryptocurrency, offshore yuan stablecoins have emerged as an area of potential importance for the global competitiveness of the Chinese currency.

Conflux, a government-backed blockchain operator, has been allowed to experiment in the field as Beijing sought to secure a position in the new global financial order, its founder told the Post last week.

Sabine Hossenfelder is one of the people I regularly watch on the YouTube platform. She is a physicist but also veers into other areas such as artificial intelligence and quantum computing. For her latest video — In Which I Lose Faith In Quantum Computing — she makes a number of interesting observations. In short, apart from some very specific applications, quantum computing, even if it is scalable from current technology, has limited application. It also has the potential of bringing down a number of current companies highly focused on this technology, or at least some of their divisions. Artificial intelligence takes up a lot of the space that quantum computing could do well in, but for the present at least, AI does it better. The next 10 years, or less, will be important to see how both of these directions develop, or not. If you are interested at all in physics, maths and occasionally quantum computing, then Sabine Hossenfelder provides some interesting perspectives.

– I’ve learned a new word this week — workslop. This is the machine-learning equivalent of spam. As noted in earlier articles, AI can make people lazy. According to an ongoing study by Stanford’s Social Media Lab and behavioural research business BetterUp Labs, 40% of US workers are reporting that workslop has crossed their desk over the past month.

– So, people are sending impressive looking, AI-generated material, containing little in terms of actionable facts and figures. Someone often then needs to go through this and turn it into something useful. According to the report, the amount of work involved in the process of sorting the wheat from the chaff, or facts from hallucinations, costs around US$186 (6,000 baht) per employee per month in lost productivity. Those receiving workslop break down as being annoyed, with a third claiming to be confused and a quarter claiming the received material offended them. People also saw those sending the material as untrustworthy, 42%, with a third concluding the sender was less creative and intelligent than they first thought. Many said such material was more trouble than it’s worth. Workers sent 18% of workslop directly to managers, with 16% of such material coming from managers.

– If you expand this study across the world, study not yet done, this will be occurring in more than just the US. If you also look at some of the latest ads for IT, companies are asking for people with AI tool experience presumably because senior management believes it will boost productivity and reduce costs. People use AI tools, but if and when they generate poor outputs someone then must fix it. A recent study by the UK government found no clear productivity improvement from introducing Microsoft 365 Copilot to the Department for Business and Trade. Then there is research by MIT which reports that about 95% of organisations see no measurable return on investment from generative AI efforts. So, on one side there are those pushing AI and on the other, workers using it and generating rubbish. This will not end well. One exception I’ve seen is in code generation, but unless you check the results and just hand it on, that can lead also to failure.

– Some of you will have seen the Boston Dynamics robots doing parkour. I remember at the time being impressed. I recently watched a video on how robotics has progressed since then. Some of the new Chinese robots are getting very capable, like being knocked down and immediately getting back up again and even performing a cartwheel. The target here is apparently more on industrial work. Then there are robot faces that can mimic expressions with such detail and accuracy that people are calling it eerie. I found it to be so-so. Over to Europe, and they are working on a robot with simulations of muscle movements. They currently look like some kind of ghoul but the final result will be a robot that moves like a human.

– I also watched a discussion with one of the fathers of AI, Geoffrey Hinton. He explained that any gross level of physical work will soon be replaced by a combination of AI and robot forms. In contrast to some positions, he said that AI would be able to do creativity well because of something he called strange anomalies. He gave the example of two identical AI’s looking at different parts of the Internet. Instead of being independent, they would share interesting findings giving them more weight. Doing this at a trillion times faster than a regular human, they can find strange associations missed by us. Try putting the question, “What is the similarity between an atom bomb and a compost pile?”, to your favourite Chatbot. Hinton, who won the Nobel Prize in Physics, did suggest that the last ability to fall would be our advantage in small manipulations, noting that plumbers should be safe for a while yet.

– And finally, there will be no Tesla phone but rather from next year, a number of new phones will have a dedicated Starlink chip built in to support a direct connection to Starlink satellites. Yes, I was looking forward to a new Tesla phone myself.

The government’s “Khon La Khrueng Plus” co-payment scheme, worth 44 billion baht, is expected to bolster GDP in the fourth quarter, said Finance Minister Ekniti Nitithanprapas.

The cabinet on Tuesday approved the budget for the scheme, which will be effective from Oct 29 until the end of this year, with the aim of preventing the economy from becoming trapped in contraction in the current quarter, the minister said.

Mr Ekniti, also a deputy prime minister, said the cabinet’s approval of the scheme reflects the government’s policy as declared to parliament, and recognises the urgent need to stimulate the economy.

The scheme is intended to increase household income and reduce expenditures, thereby enhancing people’s purchasing power for everyday consumption, he said.

This is especially important as the Thai economy faces a risk of contraction and slowdown in the fourth quarter.

The Khon La Khrueng Plus initiative is positioned as a flagship measure, complementing the recent top-up in welfare card balances that the cabinet also approved last week, to promote a more distributed and lasting economic recovery.

According to Mr Ekniti, Khon La Khrueng Plus will provide 20 million entitlements, under which the government will contribute half of the spending.

The aim is to aid small and micro businesses by stimulating consumer demand. Over the medium to long term, the programme also targets tax-registered citizens, who will receive 2,400 baht each, as well as support for local vendors via technology and training to reduce costs and modernise trade.

“The government emphasises that this scheme is intended to act as the engine to drive Thailand’s economy and prevent a negative trajectory,” he said.

Unlike the previous version [for persons aged 18 and above], eligibility in this round is extended to all persons 16 and above, recognising that younger generations have purchasing power and engage in online commerce.

“The government will also raise its daily subsidy contribution from 150 to 200 baht, thereby increasing purchasing power and driving short-term economic stimulus.

“Meanwhile, subsidies for those in the tax system will rise to  2,400 baht, in contrast to the general subsidy of 2,000 baht. The scheme will run from Oct 29-Dec 31, and those who have registered but not yet used their entitlement must make their first transaction by Nov 11 to retain their eligibility,” Mr Ekniti said.

He said the purpose of the scheme is to help ease living expenses for 20 million people, requiring citizens to also contribute 44 billion themselves — thereby injecting a total of 88 billion into the economy.

Furthermore, at the previous cabinet meeting, the government also approved top-ups for 13.4 million welfare card holders, 1,700 baht each, funded by another 23 billion baht budget allocation, Mr Ekniti said.

This means that by year’s end, more than 100 billion baht will have been mobilised to stimulate the economy, which is expected to raise GDP by an additional 0.3-0.4%, he said.

While economic growth was forecast at 0.3 % for the quarter, these measures could see it double that target, he said.

“The government will sequentially roll out stimulus measures each week to push the Q4 GDP to expand by at least 1%,” he said.

A 51-year-old man accused of committing multiple home burglaries while naked has been arrested in Nakhon Ratchasima.

Chaliaw Khramkrathok was arrested while riding a motorcycle in Chok Chai district on Tuesday afternoon.

He was named in arrest warrants for multiple burglaries in the area since March this year.

According to police, the suspect has a house in Chok Chai district but tried to avoid arrest by living outside in paddy fields.

He had broken into several houses in March and four in September, police said.

Mr Chaliaw stole personal valuables and cash and was often naked when he committed the thefts. He was filmed by security cameras.

He told police that he took off his clothes because he did not want to be recognised by his clothing. Sometimes he stripped off because his clothes were soaked by rain.

The Senate yesterday set up a committee to probe the background, conduct and ethics of the 15 nominees to be selected as new members of the National Anti-Corruption Commission (NACC).

The nominees, who must assume their duties within 60 days pending Senate approval, are Pol Col Kob Ajanakitti, Kiattichai Maitriwong, Noraset Pratchayakon, Nirat Yuphakdi, Niwet Phancharoenworakul, Prapas Pintoptaeng, Prayat Jatupornphithakkul, Soot Rattanawong, Phaibul Nabutchom, Wirat Rakphan, Wiwat Rungkaeo, Wirayut Sroithong, Wutthichai Kalayanamit, Gen Sawas Thatsana, and Anek Wiraphotchananan. The NACC consists of nine members, including one chairman, each serving a seven-year term.

During yesterday’s Senate session, Senator Tewarit Maneechai proposed extending the deadline for considering the nominations by 30 days, to 90 days.

He said the extension was necessary because a petition signed by 105 Senators had just been submitted to the NACC, accusing former justice minister Pol Col Tawee Sodsong and Pol Maj Yutthana Praedam, director-general of the Department of Special Investigation, of unfair treatment toward 138 Senators allegedly involved in the Senate election collusion case.

If a probe was to proceed now, he said, it could raise concerns about conflicts of interest.

The Senate committee is also being accused of partiality by Senator Nantana Nantavaropas, leader of a Senate minority group calling itself “independent”.

Ms Nantana reiterated her group’s opposition to the Senate’s involvement in reviewing and approving appointments to key positions in independent bodies, especially amid allegations that many senators were implicated in vote-rigging during the 2024 Senate election.

She added that since the majority dominate the Upper House, membership in such scrutiny committees has always been limited to their allies, leaving no opportunity for members of her group to participate.

Senator Seranee Anilbol, a member of the independent Senate group, said the 21 Senators who filed a petition concerning the qualifications of the 138 Senators allegedly involved in vote rigging, are now being sidelined in the Upper House, and given a seat in any committee.

Thai League 1 leaders Buriram United have parted ways with their Brazilian coach Osmar Loss Vieira, the defending champions announced on Tuesday.

Osmar became the third coach in the top flight to lose his job only seven weeks into the new season. Dusit Chalermsan (Kanchanaburi Power) and Supachai Komsilp (BG Pathum United) were the first two coaches to be dismissed this season.

The Brazilian joined Buriram United last season and helped the Thunder Castle lift the Thai League 1, FA Cup, League Cup, and Shopee Cup trophies.

A short statement by the club on Tuesday said: “Buriram United Football Club would like to express its gratitude to Osmar Loss Vieira, the head coach who led the team to success and created memorable moments with the club.

“For the management of the team moving forward, the club has appointed Emerson Pereira da Silva as the acting head coach on a temporary basis.”

While Buriram lead the Thai League 1 table, their performances in the regional Shopee Cup and the AFC Champions League Elite group stage have been lacklustre.

Buriram drew 1-1 with Malaysia’s Selangor in their opening Group A match of the Shopee Cup at home, and the defending champions were then held 2-2 by hosts BG Pathum United, leaving them winless in the Asean club championship.

The northeastern giants are currently in fifth place with two points in Group A.

Buriram’s unbeaten run since the start of the season was halted on the night of Sept 30, when the Thai League 1 holders suffered a heavy 3-0 defeat to FC Seoul in their AFC Champions League Elite clash at Seoul World Cup Stadium.

This was followed by a 2-2 draw against BG Pathum United at home in a pulsating encounter that kept the hosts atop the Thai League 1 table but cut their lead to three points.

It marked the first time the Thunder Castle have dropped points in seven league games this season.

Tourists are being warned to stop plastering stickers over a big road sign in Thong Pha Phum district that has become an unofficial ‘check-in’ point for visitors travelling the highway.

Local Department of Highways chief Apilak Tosaporn issued the warning on Wednesday, saying the culprits could face legal action.

The sign is on a tall gantry above highway 3272 and informs motorists they are approaching Ban Pilok.

‘Tourists have attached stickers to the poles and also climbed up to attach more on the Ban Pilok sign itself,” Mr Apilak said. “Tourists frequently stop there and take photos of the sign, which has become a sort of ‘check-in’ point.’

He said after passing the sign motorists must negotiate 399 curves over the next 63 kilometres of road to visit Ban E-Tong, where there is a popular ancient mine.

The local highway office will erect signs prohibiting attaching stickers and climbing up to the sign.

He said the sticker-fiends are effectively damaging government property, obscuring the sign and breaking the highway law. Offenders were liable to up to six months in prison and/or a fine of 10,000 baht.

They also put themselves at risk and litter the area, Mr Apilak said.

The recent road collapse caused by a sinkhole in front of Vajira Hospital has drawn attention to insurance coverage for large-scale construction projects in Bangkok, with industry executives saying rising risks in the capital could push up premiums for large projects in the future.

The incident occurred near the future Vajira Hospital Station, prompting the Mass Rapid Transit Authority of Thailand to order a temporary halt to construction on the project, which is part of the new MRT Purple Line.

According to industry sources, the project was insured for a combined value of 19.4 billion baht by three major insurers: Bangkok Insurance (BKI) (40%), Dhipaya Insurance (40%), and Muang Thai Insurance (20%).

The policies cover assets under construction, machinery, third-party property damage, and accidents affecting external parties. The cause of the collapse, whether due to a water pipe leak or ongoing construction, remains under investigation.

If construction is found to have been the trigger, liability is covered by the project’s insurance policy.

BKI chief executive Apisit Anantanatarat said despite the recent incident, insurers expect more large projects to proceed under government stimulus measures, including high-speed and dual-track rail developments. They said rising risks mean “higher premiums are likely”.

Global reinsurers have reduced renewal premiums over the past 2-3 years, increasing insurers’ profitability.

“With disaster risks in Thailand rising, reinsurance costs, particularly for excess of loss coverage, are expected to climb,” said Mr Apisit.

For instance, BKI’s earthquake protection covers up to 5 billion baht per event, with reinsurers absorbing 4.9 billion baht and BKI 100 million. To strengthen resilience, he said BKI topped up its protection to 8 billion baht, though this added 400 million baht in costs this year, weighing on profits.

Flooding in October also poses a major concern, with forecasts pointing to water levels comparable to 2011. This could trigger a spike in auto claims, particularly for electric vehicles (EVs), which carry higher risks.

BKI is the only insurer to expand its catastrophe coverage to 8 billion baht this year, the highest level in the industry, said Mr Apisit.

GROWTH AMID HEADWINDS

Thailand’s insurance sector faces headwinds from the economic slowdown caused by sluggish exports, a high level of household debt, and the impact of cheaper Chinese imports on small local producers. GDP growth is projected at less than 2% this year.

Against this backdrop, the insurance industry grew 3% in the first half of the year, with full-year growth forecast at 1.5-2%. Government stimulus programmes such as the 60-billion-baht “Khon La Khrueng” co-payment scheme are expected to provide a temporary boost.

Auto insurance remains a key driver, with total car sales estimated at 600,000 units. EV sales have surged nearly 40% year-on-year in 2025 to around 120,000 units, lifting the demand for insurance. However, BKI’s motor insurance portfolio contracted by 5% as the company avoided aggressive price competition in the high-risk EV segment.

Fire insurance is expected to expand by 1% in the second half, while large projects such as the 200-billion-baht high-speed rail linking three airports, dual-track railways, and new data centres are set to support premium growth.

BKI targets premium growth of 2.6-3% in 2025 and 5-6% by 2026, though the short government tenure (4-8 months) limits near-term economic recovery.

With exports and tourism, traditional growth engines, remaining weak, Thailand’s economy is likely to see subdued growth over the next 2-3 years, said Mr Apisit.

England and Portugal are in pole position to win their respective 2026 World Cup qualifying groups with two games to spare, with several other European nations also hoping to secure berths at the finals in the upcoming matches.

Norway may also be only one victory away from reaching the tournament for the first time since 1998, which would leave Italy staring at a third successive World Cup watching from the sidelines.

Thomas Tuchel’s England laid down a marker last month with an impressive 5-0 thrashing of Serbia in Belgrade and are yet to concede a goal in five qualifiers.

They are not in Group K action until Tuesday when a victory over Latvia in Riga would secure a place at next year’s finals in the United States, Mexico and Canada, if Serbia do not beat Albania on Saturday.

England boast a seven-point lead over Albania with three matches to play, with Serbia a point further back but with a game in hand.

Several players who were not previously considered first-choice starred in Serbia, leading Tuchel to leave out big names Jude Bellingham, Phil Foden and Jack Grealish from his latest squad.

“Keep on pushing,” Tuchel, whose side play Wales in a friendly on Thursday, said as his message to those missing out.

“It is a decision for this camp, it was the best camp (in September) in terms of team spirit and team work, this was the best camp so far.

“We decided to invite the same group of players to make more stable what we built on.”

Serbia’s clash with Albania could prove crucial in deciding which team finishes second and goes into the play-offs.

In-form Portugal eye early qualification

Portugal racked up eight goals in their first two qualifiers in September and will likely need just two more wins over this international break to wrap up top spot in Group F.

Roberto Martinez’s side will qualify with victories against the Republic of Ireland on Saturday and Hungary on Tuesday, unless Armenia beat both those same opponents.

Cristiano Ronaldo scored three goals in September, including one in a tense 3-2 success against Hungary in Budapest, sealed by a late Joao Cancelo penalty.

Portugal are targeting a seventh successive World Cup appearance.

Norway have enjoyed a dream start to qualifying, scoring 24 goals in five successive wins to move to the brink of the finals.

Erling Haaland, who is yet to play at a major tournament, already has a remarkable nine goals in their group, after netting five in the 11-1 thumping of Moldova last time out.

Norway host Israel on Saturday, knowing that victory would end their 28-year absence from the World Cup if Italy fail to beat either Estonia or Israel in Group I.

But the Scandinavians will be without skipper Martin Odegaard after he suffered a knee injury playing for Arsenal last weekend.

“We lost our captain, and we have to live with that,” said coach Stale Solbakken.

“Of course you get angry and upset and those kinds of feelings, but then you quickly get into a mode where you have to think constructively.”

Four-time world champions Italy will be desperate to avoid the play-offs, after losing at that stage in qualifying for both the 2018 and 2022 World Cups to Sweden and North Macedonia respectively.

France, the 2018 World Cup winners and runners-up three years ago, could also qualify with victories against Azerbaijan and Iceland, if Iceland draw with Ukraine.

European champions Spain too have an opportunity to book a ticket to North and Central America if they defeat both Georgia and Bulgaria, but only if multiple other results go their way in Group E.

Croatia and Switzerland could also qualify in the coming week.

Germany, though, have little margin for error in Group A after a shock defeat by Slovakia in their opening qualifier.

Julian Nagelsmann’s side face Luxembourg on Friday before heading to Windsor Park to take on Northern Ireland three days later.

Shrewsbury International School Bangkok Riverside, has once again excelled on the global academic stage, announcing its exceptional 2025 examination results and underscoring its position as one of the Thailand’s leading international schools. The Class of 2025 achieved outstanding academic outcomes whilst also securing places at many of the world’s most prestigious universities.

Graduates from the Class of 2025 are set to continue their studies at more than 65 top universities worldwide, including four Ivy League institutions, 38 Russell Group universities, the University of Cambridge, and the University of Exeter. Over 40% will attend leading UK universities such as UCL, Imperial College London, University of Bath, University of Exeter, and University of Warwick, while 25% will study in the United States at institutions including Cornell University, New York University, Babson College, Boston University, and Columbia University. The others will join top universities in Thailand, across Europe, Asia, and Australia, affirming Shrewsbury Bangkok Riverside’s role as a gateway for global academic excellence. In addition, graduates are pursuing diverse fields of study, spanning Business, Science, Medicine, Law, Humanities, and Creative Arts, reflecting the diversity of interests across the cohort.

Shrewsbury Bangkok Riverside also reported record success across examination results. At A-Level, 65% of grades were awarded at A*/A. At AS-Level, 90% of students achieved grades A/B, while at IGCSE, 74% of grades were awarded at A*/A. These results further highlight the school’s commitment to academic excellence and consistent delivery of world-class outcomes across all stages of senior school examinations.