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North Korean leader Kim Jong Un examined a finished military spy satellite, which his country is expected to launch soon, during a visit to an aerospace facility where he described space-based reconnaissance as crucial for countering the US and South Korea.

Kim during Tuesdays visit approved an unspecified future action plan in preparations for launching the satellite, North Koreas official Korean Central News Agency said Wednesday.

North Korea hasnt disclosed a target date for the launch, which some analysts say may be in the next few weeks.

That launch would use long-range missile technology banned by past U.N. Security Council resolutions, although previous missile and rockets tests have demonstrated North Koreas ability to deliver a satellite into space.

There are more questions, however, about the satellites capability.

Some South Korean analysts say the satellite shown in North Korean state media photos appears too small and crudely designed to support high-resolution imagery.

Photos that North Korean media released from past missile launches were low-resolution. North Korean leader Kim Jong Un examined a finished military spy satellite, which his country is expected to launch soon.via REUTERS

Photos released by the Rodong Sinmun newspaper of Tuesdays visit showed Kim and his daughter dressed in white lab coats talking with scientists near an object that looked like the main component of a satellite.

The newspaper did not identify the object, which was surrounded by a perimeter of red tape.

KCNA said the satellite was deemed ready to be loaded onto a rocket after scientists examined the devices assembly and put it through tests to confirm whether it would withstand the environment of space.

South Koreas Foreign Ministry said North Korea has yet to inform international maritime and telecommunication authorities of any launch plans. Tuesdays visit showed Kim and his daughter dressed in white lab coats talking with scientists near an object that looked like the main component of a satellite. AP

It said a North Korean satellite launch would violate various U.N. Security Council resolutions banning the North from any launches involving ballistic technologies and threaten regional peace and stability.

The announcing of the satellite launch plan shows yet again that the North Korean regime is preoccupied with continuing its illegal provocations while ignoring the plight of its people, the ministry said in a statement, in referring to North Koreas broken economy and deepening international isolation.

The visit was Kims first public appearance in about a month, following a previous visit to the aerospace center on April 18 as state media announced that the satellite had been built.

Kim said acquiring a spy satellite would be crucial for his efforts to bolster the countrys defense as US imperialists and (South) Korean puppet villains escalate their confrontational moves against the North, KCNA said. Rodong Sinmun newspaper did not identify the object, which was surrounded by a perimeter of red tape.AP

He was apparently referring to the expansion of joint military exercises between the United States and South Korea and the allies discussions on strengthening their nuclear deterrence strategies to cope with threats from North Korea, which has test-fired around 100 missiles since the start of 2022.

The next step in North Koreas launch preparations, or the future action plan state media mentioned, could be installing the satellite on what would likely be a three-stage space rocket, said Kim Dong-yub, a professor at Seouls University of North Korean Studies.

Depending on how North Korean preparations go, the launch could be conducted as early as mid-June, although Pyongyang might also time the event to major state anniversaries that fall in July, September or October, the professor said.

Recent commercial satellite images indicate rapid construction activities at North Koreas northwest rocket launch facility, where the country last conducted a satellite launch in 2016, the North Korea-focused 38 North website said Monday. North Korea hasnt disclosed a target date for the launch, which some analysts say may be in the next few weeks.via REUTERS

The activities include construction on the facilitys main satellite launch pad and possible efforts to establish a new launch pad at the edge of the site near the sea, 38 North said in its report.

Spy satellites are among a slew of advanced weapons systems Kim Jong Un has vowed to develop. Others on his wish list include solid-fuel intercontinental ballistic missiles, nuclear-powered submariners, hypersonic missiles and multiwarhead missiles.

North Korea has tested some of those weapons in recent months, including its first flight-test of a solid-fuel ICBM last month, but experts say the North may need more time and technological breakthroughs to make those systems functional.

In response to North Korean plans to launch a military spy satellite, Japans military last month ordered troops to activate missile interceptors and get ready to shoot down fragments from the satellite that may fall on the Japanese territory.

North Korea placed its first and second Earth observation satellites into orbit in 2012 and 2016, but foreign experts say neither transmitted imagery back to North Korea.

The U.N. Security Council issued sanctions over those launches.

North Korea has avoided new Security Council sanctions for its recent ballistic tests in 2022 and this year as Moscow and Beijing continue to block US-led efforts to dial up pressure on Pyongyang, underscoring a divide between the councils permanent members that deepened over Russias war on Ukraine.

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Canada’s new prime minister once said Bitcoin had ‘serious deficiencies’

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Canada’s new prime minister once said Bitcoin had ‘serious deficiencies’

Canada’s new prime minister, Mark Carney, once said recreating a virtual global gold standard like Bitcoin “would be a criminal act of monetary amnesia.”

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Sports

Bell rings up first Cup 3-race win streak since ’21

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Bell rings up first Cup 3-race win streak since '21

AVONDALE, Ariz. — Christopher Bell became the first NASCAR Cup Series driver to win three straight races in the NextGen car, holding off Joe Gibbs Racing teammate Denny Hamlin by 0.049 seconds to win the second-closest race in Phoenix Raceway history Sunday.

Bell started 11th in the 312-mile race after winning at Atlanta and Circuit of America the previous two weeks. The JGR driver took the lead out of the pits on a caution and stayed out front on two late restarts to become the first driver to win three straight races since Kyle Larson in 2021.

The second restart led to some tense moments between Bell and Hamlin — enough to make their team owner feel a bit queasy.

“I was ready to upchuck,” JGR Racing owner Joe Gibbs said.

Bell became the fourth driver in Cup Series history to win three times in the first four races — and the first since Kevin Harvick in 2018. The last Cup Series driver to win four straight races was Jimmie Johnson in 2007.

“We’ve had four races this year, put ourselves in position in all four and managed to win three, which is a pretty remarkable batting average — something that will be hard to maintain, I believe,” Bell’s crew chief Adam Stevens said.

The Phoenix race was the first since Richmond last year to give teams two sets of option tires. The option red tires have much better grip, but start to fall off after about 35 laps, creating an added strategic element.

A handful of racers went to the red tires early — Joey Logano and Ryan Preece among them — and it paid off with runs to the lead before they fell back.

Bell was among those who had a set of red tires left for the final stretch and used it to his advantage, pulling away from Hamlin on a restart with 17 laps left.

Hamlin pulled alongside Bell over the final two laps after the last restart and the two bumped a couple of times before rounding into the final two turns. Bell barely stayed ahead of Hamlin, crossing the checkered flag with a wobble for his 12th career Cup Series win. He led 105 laps.

“It worked out about as opposite as I could have drawn it up in my head,” Bell said. “But the races that are contested like that, looking back, are the ones that mean the most to you.”

Said Hamlin: “I kind of had position on the 20, but I knew he was going to ship it in there. We just kind of ran out of race track there.”

Larson finished third, Josh Berry fourth and Chris Buescher rounded out the top five.

Katherine Legge, who became the first woman to race on the Cup Series since Danica Patrick at the Daytona 500 seven years ago, didn’t get off to a great start and finished 30th.

Fighting a tight car, Legge got loose coming out of Turn 2 and spun her No. 78 Chevrolet, forcing her to make a pit stop. She dropped to the back of the field and had a hard time making up ground before bumping another car and spinning again on Lap 215, taking out Daniel Suarez with her.

“We made some changes to the car overnight and they were awful,” Legge said. “I was just hanging on to it.”

Logano, who started on the front row in his first race at Phoenix Raceway since capturing his third Cup Series at the track last fall, fell to the back of the field after a mistake on an early restart.

Trying to get a jump on Byron, Logano barely dipped his No. 22 Ford below the yellow line at the start/finish. NASCAR officials reviewed the restart and forced the Team Penske driver to take a pass through on pit road as the entire field passed him on the track.

“No way,” Logano said on his radio. “That’s freakin’ ridiculous.”

Logano twice surged to the lead after switching to the red tires, but started falling back on the primary tires following a restart. He finished 13th.

Preece took an early gamble by going to the red option tires and it paid off with a run from 33rd to third. The RFK Racing driver dropped back as the tires wore off, but went red again following a caution with about 90 laps left and surged into the lead.

Preece went back to the primary tires with 42 laps to go and started dropping back, finishing 15th.

The series heads to Las Vegas Motor Speedway next weekend.

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Bitcoin falls over 5% as volatility continues after Trump’s bitcoin reserve plan

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Bitcoin falls over 5% as volatility continues after Trump's bitcoin reserve plan

Jonathan Raa | Nurphoto | Getty Images

Bitcoin fell on Monday as volatility in the price of the world’s largest cryptocurrency continues following an executive order signed by President Donald Trump to create a strategic bitcoin reserve for the United States.

Bitcoin was trading at $81,712, down over 5% but off earlier lows, at 9:42 a.m. Singapore time, according to Coin Metrics.

The reserve will be funded by coins that have been seized in criminal and civil forfeiture cases and there are no plans for the U.S. government to buy more bitcoin. After the strategic reserve announcement last Thursday, crypto prices declined as investors were disappointed it wasn’t a more aggressive program.

Other cryptocurrency prices also dropped on Monday. Both ether and XRP were down about 7.5% at around 9:43 a.m. Singapore time.

Some investors, however, said the move to establish a reserve was bullish in the long-term.

“I absolutely think the market has this wrong,” Matt Hougan, chief investment officer at Bitwise Asset Management, told CNBC’s “Squawk Box Asia” on Monday. “The market is short-term disappointed” that the government didn’t say it was immediately going to start acquiring 100,000 or 200,000 bitcoin, he added.

Hougan pointed towards comments on X from White House Crypto and AI Czar David Sacks, who said the U.S. would look for “budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers.”

“I think the right question to ask is: did this executive order make it more likely that in the future, bitcoin will be a geopolitically important currency or asset? Will other governments look to follow the U.S.’s lead and build their own strategic reserve? And to me, the answer to that is emphatically yes,” Hougan said.

“The reason that questions matters is that’s the question that determines if bitcoin is $80,000 a coin or $1 million a coin.”

Hougan called the decline in crypto prices a “short-term setback.”

“I think the market will soon find its footing and realize that actually this is incredibly bullish long term for this asset and for crypto as a whole,” he said.

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