Binance Resumes Services After AWS Outage

CRYPTO
Binance Resumes Services After AWS Outage

Trading services on Binance, the world’s largest crypto exchange, resumed after a brief disruption caused by a problem with Amazon’s cloud computing platform. The issue forced Binance to pause withdrawals on Tuesday for about nine minutes. Binance announced on X that all services, including withdrawals, had been restored, following a temporary interruption at an Amazon Web Services (AWS) data center. AWS confirmed the problem was resolved, and service was operating normally.

The disruption affected some trading orders, with Binance reporting that while some orders were successful, others failed. In response, Binance temporarily suspended withdrawals to ensure safety.

Binance was not the only crypto platform affected. KuCoin, another exchange, also experienced a service disruption due to the same AWS outage. The exchange's CEO, BC Wong, assured customers that deposits, withdrawals, and trading were fully restored, with no risk to user funds.

Cloud computing outages like this are not rare, with previous incidents affecting other major services.

FINANCE
U.S. Tourism Faces Major Decline

The U.S. economy is facing significant losses in 2025 due to a decline in foreign tourism and boycotts of American products. Non-citizen arrivals dropped nearly 10% in March from the previous year, and Goldman Sachs estimates that this trend could cost the economy 0.3% of GDP, or nearly $90 billion.

Foreign tourism had been a growth driver following the end of pandemic restrictions, but increased border hostility, geopolitical tensions, and economic uncertainty are causing potential visitors to reconsider travel plans. Many, like Canadian videographer Curtis Allen, are canceling trips and avoiding American products. This trend is impacting tourism revenue, which hit a record $254 billion in 2024. As a result, key sectors, including retail and hospitality, are seeing early signs of a slowdown, especially in regions that rely on Canadian visitors.

Despite these challenges, some regions, like Oregon, continue efforts to attract international tourists, while also shifting focus toward domestic markets.

TECH
ASML Misses Order Expectations, Shares Fall

Dutch semiconductor equipment giant ASML missed order expectations for the first quarter of 2025, citing uncertainty from new U.S. trade restrictions that could impact demand for its crucial chipmaking machines. The company reported net bookings of 3.94 billion euros ($4.47 billion), falling short of the 4.89 billion euros forecast. As a result, ASML's shares dropped 6% on Wednesday.

Despite this, ASML's net sales of 7.74 billion euros and net profit of 2.36 billion euros were slightly above analyst expectations. CEO Christophe Fouquet remained optimistic about the demand outlook, particularly driven by artificial intelligence, but acknowledged uncertainty from U.S. tariffs affecting market demand.

ASML projects 2025 revenue to range between 30 billion to 35 billion euros, but the impact of U.S. tariffs remains uncertain. Equity analyst Ben Barringer noted that the effects of the tariffs on ASML are still unclear, with the company likely to continue supporting its global customer base.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.