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On May 23, local time, the Iranian military issued a statement emphasizing its readiness to launch a resolute and comprehensive counterattack against any invasion by the enemy.On May 23, Ukrainian President Volodymyr Zelensky signed a presidential decree imposing sanctions on the Russian "shadow fleet" and Russian personnel involved in the missile attacks on Ukrainian territory. The package of sanctions was adopted by the Ukrainian National Security and Defense Council. One resolution targets the Russian "shadow fleet," involving 29 civilian merchant ships that provide supplies and troop deployments to the Russian military. Most of these ships are already under sanctions by the US, EU, and UK, and are considered by many international parties to be part of Russias military logistical support capacity. Western countries accuse Russia of using commercial vessels such as oil tankers to evade Western sanctions, referring to these vessels as the "shadow fleet." Another sanctions resolution involves 127 Russian personnel who were directly involved in the missile attacks against Ukraine, targeting key infrastructure and civilian facilities within Ukraine, causing serious damage to local livelihoods, social order, and the safety of peoples lives and property.On May 23, the joint China-Nepalese scientific expedition team successfully summited Mount Everest from the Nepalese side and conducted scientific sampling work, including ice core drilling, completing the first-ever drilling of a complete ice core sample from the summit of Mount Everest. Currently, all expedition members have safely descended to the Everest South Base Camp, having collected ice and snow core samples at multiple altitudes during the descent. The samples will be transported to the laboratory according to cryogenic preservation requirements for research on climate and environmental changes, cryosphere changes, and high-altitude atmospheric environmental records in the worlds highest region.On May 23, Changqiao Securities issued further clarification regarding recent regulatory matters concerning cross-border securities business in China. Changqiao Securities stated that the Hong Kong Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC), among other mainland regulatory authorities, have recently issued new regulatory requirements for cross-border securities business, establishing unified industry-wide standards for related services to mainland investors. These regulatory rules apply to all overseas financial institutions. Changqiao is actively responding to the regulatory guidelines from both regions and will strictly adhere to the relevant requirements to steadily advance its compliance work. Changqiao Securities stated that the scope of accounts targeted for this regulatory cleanup is limited and clearly defined, primarily targeting two types of accounts: investment accounts opened using suspicious or forged documents, and investment accounts with zero balances and no activity. Normal, compliant client accounts with genuine assets and holdings are not within the scope of this cleanup. Changqiao firmly supports the regulators zero-tolerance attitude towards fraudulent account openings and will strictly handle such cases in accordance with regulatory requirements.The General Staff of Ukraine stated that Ukraine attacked Russias Seshkalis Black Sea oil terminal and the nearby Grushnova oil depot.

Cryptoverse: Bitcoin beats the heat in a jumpin’ July

Alice Wang

Aug 02, 2022 14:37

微信截图_20220802093818.png


After months of freefall, it jumped more than 17% in July, its best performance since October. Ether rose 57%, its strongest monthly gain since January 2021.


The rally was in step with gains of riskier assets such as stocks as investors bet that economic weakness could deter the Fed from aggressively tightening monetary policy.


Bitcoin’s 40-day correlation to the tech-focused Nasdaq now stands at 0.90 – up from 0.41 in January – where 1 means their prices move in perfect lockstep.


The leading cryptocurrency has been consistently positively correlated with the Nasdaq since late November, unlike in previous years where it would routinely turn negative, meaning they moved in opposite directions.


Itai Avneri, deputy CEO at cryptocurrency trading platform INX, described July’s convergence as “good news”.


“It means institutional investors are looking at bitcoin like any other asset,” he said. “When the market turns – and it will turn – these institutions will come back and invest in crypto.”


Gains were not limited to bitcoin, as the value of the global cryptocurrency market crept back above $1.15 trillion last month, adding over $255 billion since the end of June, CoinGecko data showed.


Assets under management in digital asset investment products rose 16.9% to $25.9 billion in July, reversing June’s decline of 36.8%, according to research firm CryptoCompare.


However, trading has been thin – indicating plenty of investors gauge it’s too early to turn bullish in a deeply uncertain macro backdrop with inflation rampant, and America and Europe staring down the barrel of a recession, not to mention the implosion of some big crypto players.


Average daily volumes across all digital asset investment products fell by 44.6% to $122 million, the lowest since September 2020, CryptoCompare found.


“On a medium-term horizon, we’re bearish (on crypto) despite the current bounce, this aligns with our stance on equities,” researchers at MacroHive wrote on Friday, citing inflation, recession risks and rate hikes.


Bitcoin correlation with Nasdaq: https://tmsnrt.rs/3d0Goex

A LONG WAY FROM $60,000

Bitcoin is currently trading at $23,336, consolidating around the $24,000 mark after touching that level last week.


It will likely continue to trade in a tight range of around $20,000, plus or minus 10% to 15%, until there is more clarity over the economy’s trajectory, according to Chris Terry, vice-president at lending platform SmartFi.


“We could be in this stalled market for weeks and weeks.”


On the flip side, if the United States enters a prolonged recessionary period and the Fed is forced to cut interest rates, bitcoin could benefit, said Russell Starr, CEO of Valour, which creates exchange-traded products for digital assets.


“You’re going to have to see another quarter of recession before you see a resumption back up to the lofty $60,000 levels,” he said.


For investors who dove into crypto during its surge at the height of pandemic-era easy monetary policy, the next several months could be quite bumpy, according to Adrian Kenny, senior sales trader at GlobalBlock.


“There is still an undoubtedly considerable mountain to climb in terms of ‘normality’ or the hopes of a return to the highs of 2021 anytime soon.”