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On September 5th, a mudslide and landslide occurred in Shixia Group, Mingkeng Village, Gaoping Town, Suichuan County, Jiangxi Province. The Ministry of Emergency Management immediately dispatched and deployed rescue and relief efforts, demanding all-out efforts to search for trapped personnel, verify the number of casualties and missing persons, and deploy nearby communication support and engineering rescue teams and equipment. Rescue personnel were to be organized to advance into the disaster area as soon as possible, and hydrological and geological disaster monitoring and early warning were to be strengthened. Scientific rescue measures were to be implemented, and secondary disasters to be prevented. The National Disaster Reduction and Relief Commission and the Ministry of Emergency Management activated a Level IV emergency response for natural disaster relief and a Level IV emergency response for geological disasters, dispatching working groups to the scene to guide rescue and disposal efforts. The National Emergency Survey Team for Production Safety Rescue, equipped with slope radar and other equipment, was also dispatched to the scene. Local fire departments have dispatched 41 vehicles and 224 personnel to the scene, and communication and reconnaissance drones from surrounding areas have been deployed.September 5th - The Asia-Pacific Media High-Level Forum was held in Shenzhen on September 5th. At the forum, Zhu Min, former Vice Governor of the Peoples Bank of China, emphasized promoting the digital and intelligent transformation and connectivity of the Asia-Pacific region. He called for deepening cooperation in cutting-edge technologies and strengthening collaboration in the field of artificial intelligence (AI). He also stressed the need to promote the development of the digital economy, expand digital public services, and facilitate standards interoperability.On September 5th, Russian Deputy Foreign Minister Sergei Ryabkov, commenting on the potential visit to Russia by US Presidential Envoy Joshua Witkov and Trumps son-in-law Jared Kushner, stated that the US government should consider the actual situation on the battlefield in its mediation efforts in Ukraine, and that the situation is developing unfavorably for Kyiv. Ryabkov pointed out that the key issue is whether the US government is prepared to invest the effort to find a genuine solution to the current crisis, including considering the realities of the battlefield, not only the root causes of the conflict frequently cited by Russia, but also the constantly evolving situation that is developing against Ukraine. Ryabkov said the question is whether the Anchorage meeting between the Russian and US leaders in August 2025 and subsequent events demonstrate that the US position on resolving a range of issues can remain within a rational framework, without succumbing to pressure from the situation and opposing mediators. These issues remain unresolved.September 5th - According to reports, after Zhipus first store on Tmall was launched, several major model manufacturers, including Kimi, MiniMax, and Jieyue Xingchen, are also in talks with Tmall to open official flagship stores and sell Token subscription packages.September 5th - In accordance with the "National Natural Disaster Relief Emergency Plan," and in response to the severe impact of recent typhoons and extreme heavy rainfall on Putian and Ningde in Fujian Province, the National Disaster Prevention, Reduction and Relief Commission and the Ministry of Emergency Management raised the national natural disaster relief emergency response level for Fujian to Level III on September 5th. An additional disaster relief working group was dispatched to the disaster area to assess the situation and guide and assist local authorities in ensuring the basic living needs of affected people and in post-disaster emergency recovery efforts.

Binance plans to buy rival FTX in bailout as crypto market crumbles

Skylar Shaw

Nov 09, 2022 16:47

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To aid with a "liquidity bottleneck" at the rival exchange, cryptocurrency giant Binance reached a non-binding deal on Tuesday to purchase FTX's non-U.S. unit. This surprising bailout has renewed investor fears about cryptocurrencies.


Sam Bankman-Fried, the CEO of FTX, and Changpeng Zhao, the CEO of Binance, reached an agreement despite their high-profile rivalry when withdrawals totaling $6 billion were made from FTX in the 72 hours leading up to Tuesday morning.


Zhao, who had tweeted on Sunday that Binance would liquidate its holdings of the rival's token owing to vague "recent developments," played a part in the pressure put on FTX.


Dan Raju, CEO of financial services company Tradier, a brokerage, said: "It's frightening to think that FTX, one of the top cryptocurrency exchanges in the world, got bitten by liquidity worries and Binance, their greatest competition, is coming to their rescue."


The 30-year-old billionaire Bankman-spectacular Fried's turnaround in fortunes is the third emergency cryptocurrency rescue this year as investors fled riskier assets due to increasing interest rates. From its peak, the cryptocurrency market has decreased by around two-thirds, reaching $1.07 trillion.


On hearing of the agreement on Tuesday, major cryptocurrencies initially rose, but those gains were swiftly lost.


The price of FTX token, which grants owners discounts on FTX trading fees, was recently $5.33 after falling by more than three-quarters. The largest digital token, bitcoin, was down 11%.


After FTX's shares dropped more than 10%, Coinbase Global Inc. reassured investors in a blog post that it had no exposure to the stock.


Forbes estimates Bankman-net Fried's worth at $16.6 billion; he has claimed to have billions on hand to support faltering digital asset firms. He disclosed a 7.6% ownership holding in Robinhood Markets Inc. in May, taking advantage of the trading app's declining share price.


According to those familiar with the situation, Tuesday's developments left FTX investors rushing to understand what the arrangement with Binance implies for their investment in FTX.


Bankman-Fried attempted to reassure FTX investors in a note to investors shared on Twitter and verified by a source with knowledge of the situation late on Tuesday. In the note, Bankman-Fried stated that "protecting shareholders is our highest priority," but added that specifics of the deal were "still being worked out." A request for comment from FTX was not immediately complied with.