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August 25th – The third China-US Track 1.5 Dialogue was held in Beijing today. Representatives from relevant Chinese ministries, local governments, think tanks, and the Asia Society, among others, will engage in in-depth discussions on topics such as enhancing political mutual trust, expanding economic and trade cooperation, and exploring cooperation in artificial intelligence and science and technology. Established in 2023, the China-US Track 1.5 Dialogue, situated between official diplomatic dialogue (Track 1) and purely non-governmental (Track 2) dialogue, serves as an important communication platform for political parties, strategic circles, business communities, academia, and the general public in both countries. It has previously put forward numerous concrete suggestions for strengthening exchanges and cooperation between the two countries in the political, economic, trade, scientific, technological, and cultural fields.According to JLC Network Technologys calculations, as of the seventh working day on August 25th, the average price of benchmark crude oil was $88.87 per barrel, with a change rate of 7.54%. Domestic gasoline and diesel retail prices should be increased by 410 yuan per ton. The adjustment is based on: 1. the domestic crude oil import structure and settlement benchmark varieties; 2. minor adjustments may be made during the pricing mechanisms operation based on import structure, etc., and JLC Network Technology will revise accordingly; 3. At 24:00 on August 14th, domestic gasoline and diesel retail prices were reduced by 230 and 220 yuan per ton respectively. Based on the "ten working days" principle, the adjustment window for this round is 24:00 on August 28th.Lei Jun posted on Weibo that the Xuanjie O100, based on Xuanjies innovative high-bandwidth matrix bus, achieves edge AI performance far exceeding that of traditional flagship SoCs. It will be applied to a full range of product categories, including mobile phones, automobiles, and robots.Futures News, August 25th: Crude oil prices rose and then corrected, slightly cooling the bullish sentiment in the fuel oil market. Refineries faced increased resistance to pushing prices higher, but tight supply of some products supported refineries in maintaining prices. It is expected that today, most fuel oil products will remain stable with shipments, while some major contracts may see significant price increases.A Reuters poll of 35 economists showed that 18 of them expect the Bank of Korea to raise its benchmark interest rate to 3.00% on August 27, while the rest believe the rate will remain unchanged at 2.75%.

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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