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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.

Solana Set to Unveil Retail Store in New York as its ‘Cultural Centre’

Alice Wang

Jul 29, 2022 15:12

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One of the largest blockchains in the world by market capitalization, Solana, is opening a permanent physical location in Manhattan, New York, that will serve as the project's "culture center."


The Solana Spaces store will have an interactive art display as well as the option for customers to pay via Solana Pay, which is a unique feature.

The Web3 World

A non-fungible token (NFT) gallery showcasing the Degenerate Ape Academy collection is included at the new store, which is situated in the Hudson Yards neighborhood. 10,000 3D apes created by an algorithm make up the Solana-based collection.


The dynamic art exhibit at Solana Spaces shows real-time visuals based on transactions and newly minted NFTs that are happening on the Solana blockchain.


Solana-branded goods, including limited edition Blanksoles sneakers, are on sale in the one-of-a-kind store. The decentralized shoe brand Blanksoles established an alliance with former NBA champion Metta Sandiford-Artest earlier this year to introduce a line of physical sneakers and NFTs with a Solana, California, base.


Additionally, Solana Spaces allows bitcoin as a form of payment, with Solana Pay helping consumers complete transactions. In addition, the store provides guides for Magic Eden and the Phantom wallet. In particular, Phantom is a well-known non-custodial cryptocurrency wallet created for Solana with more over a million users.

Success for Solana

When it comes to non-fungible tokens and decentralized finance (DeFi), Solana is without a doubt one of the most well-known blockchains in the world. Its native cryptocurrency, SOL, is currently ranked as the ninth largest in the world.


The project gained notoriety in May of this year when its NFT sales produced more money in a 24-hour period than Ethereum's.


Given that the project promises to guarantee transactions will always remain less than $0.01 for both developers and users, Solana has in fact evolved into a substitute for the more expensive Ethereum (ETH) blockchain for trading NFTs. Ethereum, in contrast, charges an average transaction cost of $3.71 as of this writing.


Additionally, Solanart is a fully-fledged NFT marketplace built on the network that enables anyone to buy or sell NFTs with the overall objective of assisting in the promotion of artists and producers.


As of June, the initiative has generated about $2.35 billion in total sales, with average monthly NFT sales of $150 million this year.


This increase is the result of many new purchasers entering the market; by January of this year, there were 153,602 different buyers who completed 1,014,963 deals on Solana. In fact, the project's monthly sales volume that month reached an all-time high of $298.69 million.