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On April 4, the Yangtze River Delta Railway ushered in the peak of passenger flow during the Qingming Festival. It is expected to send 4.1 million passengers today, 365,000 more than the same period last year, an increase of about 9.8%, and is expected to set a new record for single-day passenger volume. This years Qingming Festival railway transportation will start from April 3 to 7. The Yangtze River Delta Railway is expected to send 17.6 million passengers in 5 days, with an average daily passenger flow of 3.52 million, a year-on-year increase of 6.8%.The yield on the two-year U.S. Treasury note fell to a six-month low of 3.6550% and was last at 3.6611%.On April 4, local time on April 3, U.S. Secretary of Health and Human Services Robert Kennedy Jr. said that about 20% of the layoffs in the Department of Government Efficiency were wrong and needed to be corrected. The U.S. Department of Health and Human Services laid off about 10,000 people on the 1st. Kennedy said that people who should not have been laid off were laid off, and the department is restoring their positions. Kennedy said that canceling the entire lead poisoning prevention and monitoring department of the Centers for Disease Control and Prevention was one of the mistakes. At present, it is unclear what other projects Kennedy may plan to restore.Bank of Japan Governor Kazuo Ueda: Will consider the impact of food costs on consumers.On April 4, local time on the 3rd, the automobile company Stellantis said that due to the impact of the US import automobile tariff policy, the company decided to lay off 900 employees in its five US factories and suspend production operations at two assembly plants in Canada and Mexico. Antonio Filosa, Chief Operating Officer of Stellantis Americas, said that the US factories that were laid off were powertrain and stamping parts factories, which produced spare parts for two assembly plants in Canada and Mexico. According to the plan, the assembly plant in Canada will stop production for two weeks, and the assembly plant in Toluca, Mexico will suspend production throughout April. Filosa said the company is "continuing to evaluate the medium- and long-term impact of tariffs on operations."

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.”