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April 29th - The railways "May Day" holiday transport season began on the 29th, lasting eight days from April 29th to May 6th. The national railway system is expected to transport 158 million passengers, with an average of approximately 12,000 passenger trains scheduled to operate daily. May 1st is expected to be the peak travel day, with an estimated 24 million passengers. According to the head of the China State Railway Groups Passenger Transport Center, travel demand for tourism, family visits, and leisure activities is strong this year, and railway passenger traffic will remain high. Long-distance travel is expected to dominate at the beginning and end of the holiday, while short-distance travel will be the main mode of transport in the middle. As of 8:00 AM on the 29th, the 12306 railway ticketing platform had sold a total of 83.02 million tickets for the May Day holiday.On April 29th, Niu Li, Deputy Director of the Department of Geological Exploration Management of the Ministry of Natural Resources, stated that during the 14th Five-Year Plan period, my countrys oil production will remain stable at over 200 million tons per year. In 2025, national crude oil production will reach 216 million tons, a record high; natural gas production will exceed 260 billion cubic meters, with annual increases exceeding 10 billion cubic meters for nine consecutive years; among which, shale oil production will exceed 8.5 million tons and shale gas production will remain stable at over 27 billion cubic meters, becoming an important supplement to increasing reserves and production. Total oil and gas production will reach 420 million tons of oil equivalent, playing a vital role in ensuring national energy security.On April 29th, it was reported that a policy briefing on the reform of the ChiNext board and an event to promote the high-quality development of listed companies in Liaoning Province were held in Shenyang on April 28th. Liaoning Province called for seizing the opportunities presented by the ChiNext reform, making full use of the fourth set of listing standards and the local governments information dissemination mechanism, accelerating the construction of a tiered development pattern for listed companies, focusing on increasing the number of high-quality listed companies, improving the quality and efficiency of existing listed companies, actively expanding diversified financing channels, and enhancing the service capabilities of intermediary institutions. Promoting the high-quality development of listed companies is a systematic project. All regions and departments should take initiative, optimize the business environment, and jointly create a favorable ecosystem to support the high-quality development of listed companies, effectively transforming the dividends of capital market reform into a strong driving force for the revitalization and development of Liaoning.On April 29, UN Secretary-Generals spokesperson, Stéphane Dujarric, said on the 28th that data shows that vessel traffic through the Strait of Hormuz has decreased by 95.3% since February 28. Dujarric stated at a press conference that day that the latest data from the UNCTADs recently launched online tracking dashboard for the Strait of Hormuz also shows that global food prices have risen by 6%, and crude oil prices in the European market have risen by 53%. It is understood that since the recent escalation of military conflict in the Middle East, UNCTAD launched the online tracking dashboard for the Strait of Hormuz, focusing on shipping conditions, food and energy prices, and financial market dynamics affected by the Strait of Hormuz crisis.On April 29th, the "National Data Resources Survey Report (2025)" was released at the 9th Digital China Construction Summit. The report shows that my countrys data resources are empowering the innovative development of artificial intelligence with greater力度 (intensity/effort). A "token" is the smallest unit of information after data is broken down by large-scale AI models for efficient data processing. In 2025, the daily average token usage nationwide increased exponentially from over one trillion at the beginning of the year to 100 trillion by the end; the total token usage for the year reached approximately 211 trillion.

Crypto Startup Amber Seeks Funding For $10 Billion Valuation

Cameron Murphy

May 06, 2022 10:20


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The Singapore-based company is considering a fourth round of investment.


Amber Group is also thinking at going public in the US.


Despite the market downturn, venture cash continues to pour into crypto businesses.


Amber Group, a crypto trading platform, is considering a new round of investment that would value the firm at $10 billion.


In February, the Singapore-based startup secured a $200 million financing funded by state investment firm Temasek Holdings. The company was valued at $3 billion at the time.


According to a Bloomberg article citing "people with knowledge of the topic," Amber is reportedly in talks about another round.


Venture capitalists are pouring money into cryptocurrency.


VC companies are still hungry for everything crypto and Web3-related, with billions of dollars flowing into digital asset businesses over the last year.


Amber's CEO, Michael Wu, hinted to a second round ahead of a prospective IPO in the United States later this year. Coinbase Ventures, Sequoia China, Pantera Capital, and Tiger Global Management all contributed to the February funding round.


Amber raised $28 million in a Series A financing in February 2020, according to Crunchbase. In June 2021, the company raised a $100 million Series B financing, which was followed by a $200 million round in February of this year.


According to its website, the business, which was launched in 2018 by five former Morgan Stanley traders, operates in 150 countries, has over $5 billion in assets on the platform, and $1 trillion in traded volume.


Andreessen Horowitz and Sequoia Capital, two of the most well-known venture capital firms in the crypto industry, recently backed Elon Musk's acquisition of Twitter to privatize the microblogging platform. Binance, the world's biggest cryptocurrency exchange, has committed $500 million to the project.

Shocking Market Drop

The decision comes as a larger crypto market sell-off intensifies, culminating in one of the year's greatest daily drops.


Over the last 24 hours, total market capitalization has dropped 7.4 percent, wiping away $145 billion from the industry. With a total market valuation of $1.76 trillion, crypto markets are at their lowest point since late February.


As expected, Bitcoin (BTC) led the decline, falling 8.4% on the day to $36,359 at the time of writing. With a drop of 7.1 percent to $2,735, Ethereum (ETH) was not far behind, and many of the other cryptocurrencies were considerably worse.


The daily price action, on the other hand, does not seem to have tempered the excitement of those venture capital behemoths.