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August 31st - According to the Wall Street Journal, ahead of its planned IPO, SoftBank-backed SB Energy offered OpenAI a substantial incentive to become a tenant of its data centers. IPO filings show OpenAI received warrants worth approximately $5.5 billion from SB Energy, despite having previously invested in the company. SB Energy is expected to file its IPO documents as early as this week, working with bankers and potentially launching its IPO as early as next month, aiming to raise $5 billion to $7 billion. Currently, SB Energys data center customer base consists of companies that are also investors in the company. The filings show that SoftBank and OpenAI plan to become tenants of three of SB Energys data centers. A fourth data center, located in Scully County, Texas, with a capacity of 900 megawatts, has yet to secure a tenant.According to the Wall Street Journal, OpenAI has reportedly acquired warrants worth approximately $5.5 billion from SB Energy.On August 31, at a press conference held today by the China Council for the Promotion of International Trade (CCPIT), a spokesperson introduced that in the first seven months of this year, the CCPIT had approved 976 exhibition projects for 2026 in countries participating in the Belt and Road Initiative, involving 67 exhibition organizers and 48 countries, with a planned exhibition area of 599,000 square meters. Of these, 347 projects have been implemented, with an actual exhibition area of 126,600 square meters and nearly 9,000 participating companies.On August 31st, the last trading day of August 2026, the Shanghai rubber futures main contract fluctuated slightly throughout the day. It opened at 18,900 yuan/ton and dipped to a low of 18,705 yuan/ton, currently maintaining a narrow range around 18,900 yuan/ton. Trading volume and open interest remained active, indicating continued market tug-of-war between bulls and bears. 1. On the supply side, Southeast Asia has entered its traditional peak production season, but continuous rainfall in parts of Thailand and Vietnam has disrupted tapping efficiency. Thai cup rubber prices remained high at 67.3 baht/kg, providing rigid support for the market. Domestically, Yunnan and Hainan production areas were also affected by intermittent rain, resulting in a lower-than-expected supply of new rubber. Thailands natural rubber exports to China in the first seven months declined by 25% year-on-year, with limited external inflows. 2. Regarding inventory, as of August 23rd, the total natural rubber inventory in Qingdao was 631,500 tons, a decrease of 10,600 tons (1.65%) compared to the previous period. Both bonded and general trade inventories decreased, slightly easing pressure on the spot market. 3. Demand is clearly differentiated. As of August 27, 2026, the operating rate of all-steel radial tire manufacturers in Shandong this week was 62.33%, up 0.91% from last week but down 0.45% from the same period last year. The operating rate of semi-steel radial tire manufacturers in China was 65.38%, down 0.28% from last week and down 9.19% from the same period last year. Downstream tire manufacturers remain cautious in the face of high raw material prices, mainly purchasing based on immediate needs, with weak willingness to actively replenish inventory. The realization of the "Golden September" peak season still needs to be closely monitored for changes in terminal orders. 4. In terms of news, the expectation of El Niño climate-induced production reduction continues to be traded, and the overseas STR20# USD price remains firm, with the domestic and international markets moving in tandem to support rubber prices. Overall, the short-term supply and demand are in a tug-of-war pattern, and rubber prices are expected to remain range-bound. US crude oil fell 0.16%; gold prices fell nearly 3%. It is recommended to operate with a range-bound strategy, focusing on changes in weather in production areas and the improvement of downstream operating rates in September, and being wary of short-term risks brought about by macroeconomic and international market fluctuations.On August 31st, two residential land parcels in Shanghai were auctioned off, with a total starting price of 15.519 billion yuan and a total transaction amount of 15.6 billion yuan. The Songjiang District parcel attracted four bidders, ultimately won by a consortium of Guomao and Fraser & Lion Group for 582 million yuan, with a floor area price of 25,028 yuan/㎡ and a premium rate of 16.41%. The Putuo District parcel was won by China Overseas Land & Investment for the reserve price of 15.019 billion yuan, with a comprehensive floor area price of 37,835 yuan/㎡.

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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