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On May 30th, the State Administration for Market Regulation announced that, in order to adapt to the needs of combating and rectifying pyramid schemes under the new circumstances, protect the legitimate rights and interests of natural persons, legal persons, and unincorporated organizations, and maintain market order and social stability, it has organized the revision of the "Regulations on Prohibiting Pyramid Schemes," resulting in the "Draft Regulations on Prohibiting Pyramid Schemes (Revised Draft for Public Comment)," which is now open for public comment. The public comment period is from May 29th to June 28th, 2026. The draft revisions focus on the following aspects: adding specific content on combating online pyramid schemes; strengthening the working mechanisms and measures for preventing and combating pyramid schemes; and increasing the legal liabilities for pyramid schemes.On May 30, at the invitation of Valentina Matviyenko, Chairwoman of the Federation Council of Russia, and Volodin, Chairman of the State Duma, Zhao Leji, Chairman of the Standing Committee of the National Peoples Congress, paid an official friendly visit to Russia from May 27 to 30. In Moscow, he held separate talks with Matviyenko and Volodin and attended the 11th meeting of the China-Russia Parliamentary Cooperation Committee. Zhao Leji stated that the exchange mechanism between the legislative bodies of China and Russia is increasingly完善 (perfected/improved), playing an important role in optimizing the legal environment for bilateral cooperation and consolidating the public opinion foundation of bilateral relations. Both sides should, based on the functions and responsibilities of their legislative bodies, maintain the good momentum of multi-level and multi-field exchanges, enhance mutual understanding and trust, strengthen exchanges and mutual learning, and better serve the development of the China-Russia comprehensive strategic partnership of coordination for a new era. Exchanges of legislative experience should be conducted in areas such as national security, ecological and environmental protection, artificial intelligence, and foreign-related legal affairs.According to AXIOS, the first Windows PCs equipped with NVIDIA (NVDA.O) chips will be unveiled next week.On May 30th, Xiaomi officially unveiled its end-to-end optimization solution for the inference system of the MiMo-V2.5 series models. According to Xiaomi, the team systematically reconstructed the entire inference stack, from KVCache management, hierarchical caching, and prefix caching to scheduling strategies and the Prefill/Decode link, based on a hybrid architecture of Hybrid SWA+MoE+multimodal. KVCache storage was compressed to approximately 1/7 of comparable solutions, significantly reducing inference costs in long-sequence scenarios—this is the core technological foundation for this price reduction. On May 27th, the MiMo-V2.5 series API underwent a permanent price reduction, with a maximum reduction of 99%, regardless of input length.On May 30, the nations first green computing power full-stack AI platform was officially launched in the Hohhot Area of the Inner Mongolia Pilot Free Trade Zone, filling the gap in the regions one-stop computing power model word element comprehensive service transaction.

Crypto Market Daily Highlights: Fed Fear and Regulatory Jitters Weigh

Cory Russell

Feb 28, 2023 15:13

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On Monday, the top ten cryptocurrency index had a split session. While XRP defied the negative pattern, MATIC topped the top ten in losses. For the third session in a row, Bitcoin fell shy of $24,000 due to the negative session.


Short-term early afternoon support came from US economic data and the NASDAQ Composite Index. US orders for core durable products rose by 0.7% in January, correcting a 0.4% drop in December. A 0.1% increase is predicted by economists. The favored Goods Purchases Non-Defense Ex Aviation index of the Federal Reserve rose by 0.8%, correcting a 0.3% decline from December.


The most recent figures from the US, however, are yet more encouraging economic signs, backing a more active interest rate track from the Fed to bring inflation back to goal.


The introduction of a worldwide crypto regulatory structure has added regulatory ambiguity, which has continued to dampen investor interest. Investors were given a preview of what to anticipate by G20 news and G20 post-meeting remarks.


A Forbes story on Binance moving $1.8 billion in user assets to hedge funds on Monday put the market's perception to the test amid intensified regulatory and parliamentary examination. As of the time of writing, CZ, the Leader of Binance, had not commented on the story.


The Day Ahead Buyers should keep an eye on the crypto news channels for any regulation developments and any congressional chitchat. Along with news from the current SEC v. Ripple lawsuit, developments on Binance and FTX are important to take into account.


The midday session will be influenced by US economic data and the NASDAQ Composite Index. There will be a lot of curiosity in the February US consumer sentiment numbers. The Fed would feel more confident making more bold steps to fight inflation if consumer confidence rose.


As a result of decline purchasers providing much-needed assistance, the NASDAQ Composite Index increased by 0.63% on Monday. Today's morning saw a 9-point gain for the NASDAQ mini.