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June 17 – According to sources, European Council President António Costa has contacted the Kremlin in an attempt to push Russian President Vladimir Putin to discuss ending the Russia-Ukraine conflict. Sources indicate that Costas chief advisor has spoken twice with a senior Russian official close to Putin, aiming to pave the way for more substantive negotiations in the future. Last month, Costa stated, "We need to engage in dialogue with Russia at the appropriate time to address the security issues we both face." The three largest European economies – Germany, France, and the UK – have also discussed strategies for coordinating with Ukrainian President Volodymyr Zelensky and encouraging Putins participation in peace talks. European officials believe that the current difficulties faced by Russian troops on the battlefield, Ukraines increased attacks on Russian territory, and the rising economic costs of the war have created an opportunity to bring Putin to the negotiating table. A senior European official stated that as the war enters a new phase, senior European officials are working to coordinate their positions and prepare for increased communication with the Kremlin in the future.June 17 - Iranian state television reported today (June 17) that three Iranian oil tankers carrying approximately 5 million barrels of crude oil have broken through the US maritime blockade and passed through the Strait of Hormuz, heading towards their destination.On June 17th, Bank of America analysts stated in a report that the Bank of England is unlikely to follow the European Central Bank in raising interest rates on Thursday, but this would not substantially damage market confidence in the pound. The market is currently concerned about a potential policy misstep by the ECB. Analysts said the "second-round effect" triggered by high energy prices will be closely scrutinized, which should support further rate hikes in the UK in the future. However, the market would welcome a more balanced stance from the Bank of England between high inflation risks and weak employment risks. If the price shock persists, the Bank of England might be seen as lagging behind, but this is not currently the case. Bank of America expects the Bank of England to keep interest rates unchanged on Thursday, but raise rates in July and September.June 17th - It was learned today that the State Administration for Market Regulation has revised and released three national standards: "General Technical Requirements for Bicycles," "Bicycle Assembly Requirements," and "Technical Requirements for Bicycle Testing Equipment and Instruments." These standards systematically regulate the technical performance, assembly process, and testing equipment and instruments for bicycles, providing solid standard support for improving the quality and performance of bicycle products in my country and promoting the high-quality development of the industry.Fitch Ratings: The outlook for more emerging market sectors has deteriorated due to the war in Iran.

Banking Behemoth Barclays Buys a Stake in Crypto Firm Copper

Skylar Shaw

Jul 26, 2022 11:35

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One of the biggest banks in the UK, Barclays, has participated in a fundraising round for Copper and is anticipated to spend millions of dollars in the cryptocurrency company, which counts Lord Philip Hammond, a former chancellor of the exchequer, among its advisors.


The investment round for Copper, which offers custody, prime broking, and settlement services to institutional investors investing in cryptoassets, is expected to be completed in the coming days.

Delay of nine months

Despite the recent cryptocurrency meltdown wiping away roughly $40 billion in investor money and more than $2 trillion in market value, Copper has still been able to attract investment from one of the most reputable banks in the world.


Barclays, the world's largest bank, has finished the lengthy investor negotiations that had been put off since November of last year as Copper struggled with a temporary regulatory registration in the UK.


More precisely, the Financial Conduct Authority (FCA) mandates interim registration for digital asset service providers in compliance with money laundering laws. This implies that in order to operate, all crypto-asset enterprises must first seek full FCA registration.


However, Copper subsequently made the decision to become regulated in Switzerland as a result of the financial watchdog's refusal to accept its license registration.


Blockchain.com and Revolut are just two of the many companies that operate under the Temporary Registration Regime (TRR), and more than 100 businesses filed for registration when the FCA took over as the UK's anti-money laundering and counter-terrorism funding body in 2020.

Banking Megacorp

Bloomberg reports that although Barclays has made an undisclosed investment in the "millions of dollars," individuals with knowledge of the situation indicated last year that the funds might increase Copper's worth to around $3 billion. Additionally, the sources said they were uncertain whether the sum raised would be made public.


In 2015, Barclays became one of the first traditional banks to promote cryptocurrency when it started enabling charities to accept contributions made in Bitcoin (BTC) as a form of alternative payment.


However, the bank also has a murky history with cryptocurrencies, having prevented UK-based clients from sending money to Binance by forbidding them from paying the exchange using a credit or debit card. The restriction was implemented soon after the Financial Do Authority said that Binance Markets Limited was no longer permitted to conduct cryptocurrency business in the nation.


Similar to this, Barclays already severed connections with Coinbase and is no longer the bitcoin exchange's financial provider.


In a Series B fundraising round that included Illuminate Financial Management, LocalGlobe, and MMC Ventures and was co-led by Dawn Capital and Target Global last year, London-based Copper received $50 million.

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