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On April 26, according to the Wall Street Journal, in order to simplify the negotiations on reciprocal tariffs, US negotiating officials plan to use a new framework developed by the Office of the United States Trade Representative (USTR), which lists major categories of negotiations, such as tariffs and quotas, non-tariff trade barriers, digital trade, product origin principles, economic security and other commercial issues. In these categories, US officials will put forward specific requirements for individual countries, but people familiar with the matter emphasized that this document may also be adjusted at any time. People familiar with the matter said that the United States initial plan is to negotiate with 18 major trading partners in turn over the next two months. The initial plan is to alternately participate in the talks with six countries per week for three weeks (six countries in the first week, another six countries in the second week, and another six countries in the third week) until the deadline of July 8. If US President Trump does not extend the 90-day suspension period he set by then, those countries that cannot reach an agreement will begin to face reciprocal tariffs.On April 26, after the United States announced additional tariffs on goods from many countries, Peruvian business people expressed concerns that the US governments extreme measures would disrupt the global trade order and may even trigger a global economic recession. Alvaro Barrenechea Chavez, vice president of the Peruvian-Chinese Chamber of Commerce, said that the negative impact of the US tariff policy has begun to emerge and hoped that the US government would rethink. Recognizing the importance of countries working together to promote development, I think this is the best way to become a true "world citizen."Market news: Musks xAI company plans to raise about US$20 billion in a financing round.Conflict situation: 1. Ukrainian top commander: Russia tried to use air strikes as a cover to increase ground attacks, but was repelled by Ukraine. 2. Ukrainian Air Force: Russia launched more than 103 drones in the night attack on Ukraine. 3. Local officials said Ukraine launched an attack in the Belgorod region of Russia, killing two people. 4. The local governor said that Russia launched an attack on the Dnipropetrovsk region of Ukraine, killing one person and injuring eight people. Peace talks: 1. Trump: ① The situation between Russia and Ukraine is gradually becoming clear, and they are "very close" to reaching an agreement. ② Ukraine is unlikely to join NATO. ③ Ukraine has not yet signed the rare earth agreement and hopes that the agreement can be signed immediately. ④ It is foreseeable that the United States will conduct commercial cooperation with Ukraine and Russia after reaching an agreement. 2. Russian Foreign Minister: Russia is "ready to reach an agreement on Ukraine." 3. Russian Presidential Assistant Ushakov: Russia and the United States will continue to maintain active dialogue. 4. Russian Presidential Assistant: Putin discussed the possibility of resuming direct negotiations between Russia and Ukraine with the US envoy. 5. The differences between the United States, Europe and Ukraine are clear. The documents show that European countries and Ukraine have raised objections to some of the US proposals to end the Russia-Ukraine conflict. 6. Market news: As part of the peace agreement, the United States asked Russian President Putin to abandon the demilitarization requirement. Other situations: 1. President of Hungarys OTP Bank: We hope to return to all business areas in Russia after the (Russia-Ukraine) conflict ends. 2. Ukrainian President Zelensky: US ground forces are not necessary for Ukraine. 3. Trump said Crimea will remain in Russia, Zelensky: Never recognize it. Agreeing with Trumps view, Crimea cannot be recovered by force. 4. NATO Secretary-General Rutte met with Trump and senior US officials to discuss defense spending, NATO summit, and the Ukrainian conflict.Rising global trade risks, overall policy uncertainty and the sustainability of U.S. debt top the list of potential risks to the U.S. financial system, according to the Federal Reserves latest financial stability report released on Friday. This is the first time the Fed has conducted a semi-annual survey on financial risks since Trump returned to the White House. 73% of respondents said that global trade risks are their biggest concern, more than double the proportion reported in November. Half of the respondents believe that overall policy uncertainty is the most worrying issue, an increase from the same period last year. The survey also found that issues related to recent market turmoil have received more attention, with 27% of respondents worried about the functioning of the U.S. Treasury market, up from 17% last fall. Foreign withdrawals from U.S. assets and the value of the dollar have also risen on the list of concerns.

Cryptoverse: What crisis? Venture capitalists bet big on crypto

Skylar Shaw

Jul 27, 2022 14:20

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Venture capitalists are investing in blockchain and digital currency firms at a rate that is expected to surpass last year's record, despite the fact that the crypto industry is shivering in the cold winter.


According to information from PitchBook, VCs invested $17.5 billion in these companies in the first half of the year. As a result, investment is on track to surpass the record $26.9 billion raised last year, which will make things better and happier for bitcoin and company.


The founder of Hong Kong investment firm Lemniscap, which specializes in cryptocurrencies and blockchain, Roderik van der Graf, stated, "I don't think investors are alarmed by the current market conditions." The amount of capital accessible is vast.


VC funds provide finance to start-up businesses they consider to have promising growth prospects. Despite a trying six months for the sector, the data indicates a strong belief in the future of cryptocurrency and blockchain technology.


Bitcoin has fallen by around 65 percent from its record high of $69,000 set in November as a result of macroeconomic headwinds and major project failures this year, and the total market value of cryptocurrencies has fallen by almost two-thirds to $1 trillion.


As prices drop, businesses have trembled. Major U.S. exchange Coinbase Global and NFT platform OpenSea are just two of many that have had to lay off hundreds of employees.


Although many VCs have deployed sizable war chests because to their continued confidence in the core technology of crypto coins, some are choosing to ignore the doom.


However, not many investors are that optimistic in the face of the cryptocurrency devastation.


The CEO of California-based crypto management company Wave Financial, David Siemer, claimed that there were indications of a correction from the exorbitant values of crypto enterprises in 2017.


We're a few months into this cycle; things will only get worse. The suffering endured by individuals seeking money during the last cycle lasted roughly a year.

United States hotspot

With $11.4 billion in the six months leading up to June, compared to $15.6 billion for the entire year prior, North America, which has long been the hotspot for VC deals, was once again the center of attention.


The figures stand in contrast to overall venture capital activity in the US, where deals decreased to $144.2 billion in the first half from $158.2 billion in the same period last year as market instability and macroeconomic factors restrain investment.


The statistics, according to Rumi Morales, director of investments at Digital Currency Group, a significant U.S. cryptocurrency investor, showed growing confidence in the cryptocurrency and blockchain industries.


"There used to be an existential risk associated with working in space — that the entire field would vanish and turn out to be a pipe dream. That is no longer the case.


Even while the revolutionary changes that the technology was supposed to bring about in sectors like finance and commodities have yet to materialize, the usage of cryptocurrency as an investment tool mushroomed last year, and blockchain technology has also gained popularity.


The $400 million raised by the American division of cryptocurrency exchange FTX in January, the $450 million financing round by blockchain firm ConsenSys in March, and the $400 million raised by stablecoin issuer Circle a month later are just a few of the major U.S. crypto deals in 2022.


With VC investments totaling $2.2 billion in the first half of the year, activity is also brisk throughout Europe.


Fedi, a Lisbon-based program that makes it easier to accept, store, and use bitcoin, said this month that it had secured $4.2 million in seed funding.


One of its founders, Obi Nwosu, told Reuters that "within seven days we had all of the funding pledges." And in less than a month and a half, we had reached our initial fundraising goal. Done.”

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