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According to Li Autos Weibo account, the all-new Li L9 Livis will be officially released in the second quarter, priced at 559,800 yuan.February 6th - Evergrande Property (06666.HK) announced that the liquidator has received updated offer proposals from several selected bidders and is considering them. The liquidator has no intention of considering any new non-binding offers. The liquidator has not yet formed any opinion on the potential transaction, nor has it reached any formal or legally binding agreement with the potential bidders. The timing and details of proceeding to the next stage of the process and the signing of any transaction documents related to the potential transaction have not yet been finalized.February 6th - Conducting on-site inspections of companies applying for initial public offerings (IPOs) is a crucial part of the entire IPO regulatory process. It is also an important means to urge and guide issuers and intermediaries to strengthen their quality awareness, improve the quality of their applications, and promote the strengthening of the capital markets foundation. In 2025, the China Securities Regulatory Commission (CSRC), adhering to the main themes of risk prevention, strengthened regulation, and promotion of high-quality development, upheld its primary regulatory responsibilities in on-site inspections, strictly controlling the entry point into the capital market while adhering to the principle of materiality to prevent oversimplification and reasonably balance investor protection with institutional inclusiveness. Throughout the year, it completed inspections and handling of 16 randomly selected companies and 4 companies with identified issues, involving 8 companies listed on the main board, 9 companies listed on the Science and Technology Innovation Board (STAR Market), and 3 companies listed on the ChiNext board.Wedbush: Lowered its price target for Amazon (AMZN.O) from $340 to $300.February 6th - With the Japanese House of Representatives election approaching this weekend, the cost of default protection on Japanese government bonds has risen, and investors are remaining cautious ahead of the vote. Patrick Munnelly of Tickmill Group stated in a report that the market is "betting on a victory for Prime Minister Sanae Takaichis ruling Liberal Democratic Party in the upcoming election." S&P Global Market Intelligence data shows that the spread on Japans 5-year sovereign credit default swaps rose by 1 basis point to 26 basis points.

Crypto Market Daily Highlights – SOL Tumbles Out of Top Ten

Cory Russell

Nov 10, 2022 16:34

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For the top 10 cryptos on Wednesday, it was a bearish session. BNB and XRP led the crypto top ten losses, while SOL fell by 38.6% to drop out of the top ten. For the fourth session in a row, BTC saw losses. BTC dropped below $16,000 for the first time since November 2020, which is noteworthy.


On Wednesday, the midterm elections and the US economic calendar took a backseat. Following news that Binance had signed a Letter of Intent (LOI) on Tuesday, the market's attention was still on the FTX and Binance transaction.


However, Binance indicated it would not move forward with the acquisition after doing thorough due diligence.


"As a result of corporate due diligence, as well as the latest news reports regarding the handling of customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com," Binance said in a statement announcing its decision to pull out of the deal.


According to Bloomberg, Sam Bankman-Fried, the CEO of FTX, informed investors that there is a gap of up to $8 billion and that the business will have to declare bankruptcy absent a capital infusion.


Changpeng Zhao (CZ), CEO of Binance, summed up the situation by stating that "FTX going down is not helpful for anyone in the business. DON'T consider it a "victory for us." There is a serious loss of user confidence. Exchanges will be more closely inspected by regulators. Globally, obtaining a license will be more difficult. Because they believe we are the biggest, they will attack us more. Our level of openness, proof of reserves, insurance funds, etc., must be greatly increased. There will be a lot more in this area. We still have a lot of challenging work to do. not to mention the dramatic fluctuations in pricing.


Contagion risk and greater regulatory scrutiny will be a focus in the near future with FTX potentially declaring bankruptcy.


When speaking on the past 48 hours, SEC Chairman Gary Gensler said, "Investors suffer damaged when we don't rely upon the time-tested public policy guardrails."


The recent 48 hours' worth of cryptocurrency market developments caused a greater decoupling from the NASDAQ Composite Index. On Wednesday, the cryptocurrency market declined by 14% while the NASDAQ plummeted by 2.48%.


For the upcoming day, the news wires will continue to control the cryptocurrency market. The cryptocurrency market will likely experience a domino effect for a third day in a row. Investors can nonetheless cling to the dream of a last-minute agreement saving FTX from failure.

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