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On July 30th, Blerina Uruci, chief U.S. economist at Praxair, stated that assuming no significant rise in oil prices and low inflation, the Federal Reserve is likely to keep interest rates unchanged at its September meeting. In a report, she noted that given the number of dissenting votes at Wednesdays Federal Open Market Committee meeting and the uncertainty surrounding oil prices, market expectations for the September rate decision reflect a 50/50 probability. The market will continue to pressure the Fed and is unlikely to back down until inflation data compels it to act, maintaining its view that interest rates will remain unchanged. The June core CPI data did not influence the Feds decision, adding that Warsh is watching this trend and that "if hes lucky, this trend could work in his favor a few months later."Local officials said a Russian missile attack in Krivirikh, Ukraine, killed six people, including children, and injured eight others.On July 30th, Digitimes analyst Derek Huang stated in a report that the timeline for TSMCs Japanese factory to fully resume production remains to be seen due to ongoing aftershocks. He said that even if the direct financial losses to TSMC are minimal, the extended recertification time for specialized process equipment could cause greater disruption to the supply chain. TSMC stated in a press release that all personnel were evacuated following Tuesdays strong earthquake, and post-earthquake structural inspections confirmed the buildings structural safety. The company added that, however, due to the relatively strong earthquake, the inspection and calibration of related equipment will require some time.On July 30th, at the CDEC Summit Forum held during ChinaJoy, Zhang Yijun, First Vice Chairman of the China Audio-Visual and Digital Publishing Association, released the "China Game Industry Report for January-June 2026". The report shows that in the first half of 2026, the actual sales revenue of the domestic game market reached 188.45 billion yuan, a year-on-year increase of 12.17%. As of June, the number of game users in my country reached 684 million, a year-on-year increase of 0.82%. In terms of overseas game exports, my country continued to maintain high growth, with the actual sales revenue of self-developed games in overseas markets reaching US$12.372 billion in the first half of the year, a year-on-year increase of 30.2%. Meanwhile, mini-games also showed impressive growth, with the revenue of mini-program mobile games reaching 31.66 billion yuan in the first half of the year, a year-on-year increase of approximately 36%. Zhang Yijun mentioned that the game industry saw significant growth in scale in the first half of the year, with AI technology fully penetrating the market and the game economy becoming increasingly robust.On July 30th, media outlets reported that several users had experienced unusual spending on their Meituan accounts. Meituan confirmed that after thorough investigation, these users were highly likely victims of a new type of telecom fraud. Meituan is actively cooperating with the police investigation and has taken various measures to ensure user account security. Meituan (03690.HK) stated that, according to multiple investigations, the modus operandi in this incident is highly consistent: criminals use lures such as "brushing orders for rebates" and "high commissions" to send users links containing Trojan programs. Once a user clicks on the link, their phone is remotely controlled. The criminals then use the users identity to purchase popular restaurant vouchers and scenic spot package tickets in bulk on Meituan, and then quickly resell them for cash through online second-hand platforms, profiting from this. It is understood that public security organs in multiple locations have opened investigations into related cases. Meituan is actively cooperating with the police by providing complete data such as account login logs, order details, and transaction records to assist in tracing the criminal gang. In response to this new type of crime, Meituan stated that it has continuously upgraded its risk control strategies.

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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