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1. According to Al Arabiya TV: Oman and Iran will soon issue a joint statement on the transit corridor in the Strait of Hormuz. 2. USDA data shows that for the week ending July 30, net soybean export sales for the 2025/2026 marketing year in the United States were 32,000 tons, significantly lower than the market expectation of 100,000-400,000 tons, compared to 302,000 tons the previous week; export shipments were 346,000 tons, compared to 490,000 tons the previous week. 3. According to USDA agricultural drought monitoring data, as of August 4, 2026, the drought rate in U.S. soybean producing areas was 26%, unchanged from the previous week; compared to 3% in the same period last year, an increase of 23 percentage points. 4. USDA data shows that private exporters reported selling 122,000 tons of soybeans to China for delivery in the 2026/2027 marketing year. 5. According to data released by the Malaysian Palm Oil Association (MPOA), Malaysian palm oil production is estimated to have increased by 7.54% from July 1-31. Production in Peninsular Malaysia increased by 12.63% month-on-month, Borneo by 1.48%, Sabah by 0.77%, and Sarawak by 7.78%. 6. The World Gold Council: Global gold ETFs attracted $3 billion in inflows in July, reversing two consecutive months of outflows, bringing total assets under management to $530 billion; holdings increased by 23 tons to 4,068 tons. 7. The CEO of Albemarle, a global lithium giant, stated that global lithium inventories are low, and the lithium spot market remains tight due to weak supply failing to meet the growing demand from electric vehicles and battery storage. The company raised its 2026 battery storage production forecast by 11% and its lower limit for the 2030 global lithium demand forecast by 100,000 metric tons. 8. Data from the Southern Peninsula Palm Oil Crushers Association (SPPOMA) shows that from August 1st to 5th, 2026, Malaysian palm oil yield per hectare decreased by 9.3% compared to the same period last month, oil extraction rate increased by 0.18% compared to the same period last month, and production decreased by 8.35% compared to the same period last month. 9. Data released by the Brazilian Sugarcane Industry Association (Unica) shows that in June, sugarcane crushing volume in Brazils central-southern region was 69.791 million tons, compared to 81.622 million tons in the same period last year, a year-on-year decrease of 14.5%; sugar production was 3.903 million tons, compared to 5.298 million tons in the same period last year, a year-on-year decrease of 26.33%. 10. EIA Natural Gas Report: As of the week ending July 31st, total U.S. natural gas inventories were 3.117 trillion cubic feet, an increase of 33 billion cubic feet from the previous week, a decrease of 12 billion cubic feet from the same period last year, a year-on-year decrease of 0.4%, and 195 billion cubic feet higher than the 5-year average, an increase of 6.7%. 11. The Houthi armed forces in Yemen warned Saudi Arabia against any aggressive actions against Yemen and its people, or they would face the consequences of any escalation.BNP Paribas raises its price target for Western Digital (WDC.O) from $660 to $700.A Republican senator has proposed repealing Californias vehicle emissions regulations.The Houthi rebels in Yemen advised those who have been deceived or misled by Yemeni leaders to leave enemy camps in Saudi Arabia and return home before it is too late.U.S. EIA natural gas storage for the week ending July 31 was 33 billion cubic feet, compared with an expected 30 billion cubic feet and a previous reading of 28 billion cubic feet.

Crypto lender Genesis lays off 30% of staff

Cory Russell

Jan 06, 2023 14:09

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A request for comment from Reuters was not immediately answered by the corporation.


Genesis Global Capital, the lending division of the cryptocurrency company, halted client withdrawals on November 16 due to "extraordinary market dislocation" brought on by the demise of significant crypto exchange FTX.


Investors have left riskier assets due to rising interest rates and concerns about an economic slowdown, and recent bankruptcy filings in the industry have increased the unpredictability.