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On July 25th, the State Internet Information Office released its latest "National Informatization Development Report (2025)," which shows that by 2025, the added value of my countrys core digital economy industries will account for over 10.5% of GDP, with digital industry revenue reaching 39.6 trillion yuan, a year-on-year increase of 8.8%. The scale of digital consumption by Chinese residents will reach 25.3 trillion yuan, a year-on-year increase of 8.7%. Meanwhile, my countrys network infrastructure will be upgraded. By the end of 2025, the total number of 5G base stations in my country will reach 4.838 million, with two-thirds of prefecture-level cities reaching gigabit city standards. The number of active IPv6 users will reach 869 million.On July 25th, according to Ctrips official WeChat account, the State Administration for Market Regulation (SAMR) issued an administrative penalty decision against Ctrip Group and put forward relevant rectification requirements. Ctrip fully accepts and resolutely complies with these requirements and will strictly implement all rectification measures. This penalty serves as a profound wake-up call and lesson for Ctrip. Under the guidance and supervision of the SAMR, Ctrip will earnestly fulfill its platform responsibilities, proactively respond to concerns from all parties, and has already formulated a relevant rectification plan, willingly accepting public supervision. Ctrip Group announced nineteen rectification measures in five areas: immediately ceasing exclusive cooperation practices and protecting hotel operators autonomy; ceasing unreasonable "lowest price across the entire network" demands and protecting hotel operators pricing autonomy; safeguarding the legitimate rights and interests of hotel operators, continuously listening to merchants opinions and demands, and constantly optimizing the business environment for merchants; strengthening consumer rights protection and continuously improving service guarantee levels; and strengthening compliance construction and establishing a sound long-term mechanism.On July 25th, Austrian Minister for Europe, Integration and Family Affairs, Claudia Bauer, stated in an interview that she opposes a "fast track" for Ukraines EU accession, arguing that Ukraines accession must follow normal procedures. Bauer stated that Ukraines agricultural structure differs significantly from that of existing EU member states, and its accession would have a major impact on the EU, thus requiring careful consideration. She also stated that all countries applying for EU membership should follow the same rules and meet the accession requirements through reforms and practical performance.Emergency services say the Russian attack on Komme, Ukraine, has killed three people.According to Al Jazeera: Israeli forces launched a raid on Tubas in the West Bank. Israeli soldiers drove numerous military vehicles into the city, and infantry units were deployed across several city blocks, conducting large-scale searches of residential areas. Israeli forces withdrew from the city after nearly three hours; no arrests have been reported so far.

The Bogged-down Crypto Market

Cory Russell

Oct 08, 2022 14:09

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The market remained inside the range that has been in place since the second half of September once again as a result of the 50-day moving average in BTCUSD acting as local resistance.


At the time of writing, Bitcoin was trading slightly under $20K, down 1.9% over the previous day.


Investors in the cryptocurrency market have been deterred from purchasing as a result of a rapid rise in stock markets that has slowed down in recent days due to uncertainty. The market's capitalization dropped 1.6% over night to $956.

News context

We've lately seen some stability in the bitcoin market, according to Sam Bankman-Fried, CEO of the cryptocurrency exchange FTX. But when the Fed's monetary policy becomes more restrictive, it has an impact on all assets, leading cryptocurrencies as well as fiat money and stock indices to change.


Hoarders have amassed a record 13.7 million coins, or 71.5% of the whole BTC supply, according to Ark Invest, purchasing the cryptocurrency that has been falling since the spring. Additionally, vendors have almost reached the limits of their ability to sell.


Due to a higher dollar last week, the connection between bitcoin and gold hit its highest point in more than a year, according to Kaiko. Despite a Fed rate rise, gold and bitcoin failed to exert their role as haven assets.


The huge centralized and regulated Binance and Coinbase will be the main targets of the EU's ban on Russian cryptocurrency wallets, which may increase demand in smaller exchanges with laxer KYC but generally increase the danger of more active cryptocurrency sales.