EUR/USD 1.16675
0.049%
Gold 4721.61
0.051%
Oil 91.532
0.319%
USD/JPY 158.703
0.085%
GBP/USD 1.34044
0.075%
GBP/JPY 212.736
0.172%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Market news: Lebanese authorities say Wednesdays Israeli attack killed 182 people and injured 890.Futures News, April 9th: Styrene prices rose initially this week before falling. As of April 8th, the average closing price in Jiangsu market was 10,250 yuan/ton, a decrease of 150 yuan/ton from April 1st, representing a 1.44% increase. Price fluctuations this week were primarily driven by costs. 1. Costs: Crude oil prices remained high, continuing their upward trend. On April 8th, European and American crude oil futures experienced their largest single-day drop in six years, with Brent crude down 6.34% from April 1st. Benzene prices also fluctuated with oil prices. Simultaneously, influenced by raw material supply, the market anticipated a tighter benzene supply in April, providing some support for prices. As of the close of trading on April 8th, the average price in East China market was down 1.47% from last Wednesday. 2. Supply and Demand: Although some plants restarted, contributing to increased production, many plants in South China reduced their operating rates, resulting in an overall decrease of 1.22% in styrene production this week. Downstream EPS production is expected to decline, PS production to increase slightly, and ABS production to fluctuate narrowly. Consumption may decrease slightly, with domestic demand entering a relatively stable low-level state. Port inventories at major ports increased rather than decreased during the week, somewhat dampening market sentiment. 3. Forecast: In the crude oil market, market sentiment is volatile, and oil prices may continue to rise in the short term. Regarding styrene fundamentals, although 0.3 million tons of export shipments are expected at major ports next week, increased arrivals by road and sea transport may hinder inventory reduction, potentially suppressing market gains.The subscription multiple for the Japanese five-year government bond auction was 3.58, compared to 3.69 in the previous auction.Musk: Teslas V15 Autopilot is far safer than humans in completely unsupervised and complex situations.April 9th - According to CNN, the latest satellite images provided by the European Space Agency show thick black smoke rising from the Abqaiq processing facility in Saudi Arabias Atatürk. This comes after reports that Iran launched an attack on Wednesday. According to Saudi Aramco, the Abqaiq plant is the worlds largest crude oil stabilization unit, supplying approximately 5% of the worlds oil. The facility processes sour crude oil into sweet crude, which is then transported to Saudi Arabias east and west coasts via the "East-West Pipeline." Due to severe trade disruptions caused by the war with Iran, this pipeline is one of only two routes in the region that bypass the Strait of Hormuz.

Banking Behemoth Barclays Buys a Stake in Crypto Firm Copper

Skylar Shaw

Jul 26, 2022 11:35

微信截图_20220726112600.png


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.

Suggestion