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Ukrainian President Volodymyr Zelenskyy announced that he has appointed former Ukrainian Ambassador to the United States, Irina Markarova, as his advisor on reconstruction and investment.On November 30th, Canadian Solar announced that it plans to adjust its US market business by establishing two new joint ventures, M and N, with its controlling shareholder, Canadian Solar Inc. (CSIQ). CSI will hold 24.9% of the shares, and CSIQ will hold 75.1%. Company M will focus on the US photovoltaic business, while Company N will focus on the US energy storage business. Simultaneously, the company plans to restructure its US manufacturing plant, with CSIQ holding 75.1% and CSI holding 24.9%, to obtain a one-time equity transfer consideration and subsequent ongoing equity gains from the 24.9% stake in the US business. This transaction and the waiver of commitments have been approved by the board of directors and are subject to shareholder approval.On November 30th, Baili Tianheng announced that its wholly-owned subsidiary, SystImmune, recently received a $250 million milestone payment from BMS. According to the cooperation agreement, the company is also eligible for up to $250 million in near-term contingent payments, as well as additional payments of up to $7.1 billion upon achieving specific development, registration, and sales milestones.On November 30th, Zhuochuang Information announced that it submitted an application to the Hong Kong Stock Exchange on November 28th, 2025, for the issuance of overseas listed shares (H shares) and listing on the Main Board of the Hong Kong Stock Exchange. The application materials for this issuance and listing were also published on the Hong Kong Stock Exchange website on the same day. The issuance and listing are subject to approval, authorization, or filing by relevant government agencies, regulatory bodies, and stock exchanges, and will be implemented only after comprehensive consideration of market conditions and other factors. Therefore, the matter remains subject to uncertainty.On November 30th, Japanese Finance Minister Satsuki Katayama stated on Sunday that the recent sharp fluctuations in the foreign exchange market and the rapid depreciation of the yen were clearly not driven by fundamentals. "Our position is to issue a warning about such events," Katayama said. She reiterated that currency intervention is still possible in response to excessive yen volatility and speculative movements. This aligns with the September Japan-US joint statement, which stated that exchange rates should be determined by the market. On Monday, the market will closely watch for comments from Bank of Japan Governor Kazuo Ueda to see if he signals a possible interest rate hike at the Bank of Japans December meeting.

XRP Price Action Turns Bearish as the SEC v Ripple Case Gains Momentum

Alice Wang

Oct 26, 2022 15:26

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3.32% less XRP was traded on Monday. XRP lost the 0.75% gain it had on Sunday and finished the day at $0.45344. For the first time in four sessions, XRP closed the day below $0.46, snapping a three-day gain run.


The day got off to a rocky start with XRP reaching an early high of $0.47322. The price of XRP dropped to a low of $0.44800 in the early afternoon after failing to pass the First Major Resistance Level (R1) at $0.4768. Before temporarily returning to $0.46, XRP breached the First Major Support Level (S1) at $0.4565. However, a negative day's finale caused XRP to retrace through S1 and finish at $0.45344.


Investor perception of the SEC v. Ripple lawsuit has changed to one of caution as the parties get closer to a potential resolution.

Investors Grow Wary of the SEC v. Ripple Decision

Over the weekend, the market provided support, but on Monday, sentiment shifted to the downside. After the parties submitted public, redacted copies of the opposing papers on Monday, updates have not yet been made.


Although the Defendants have recently received positive court rulings, the case's advancement is starting to pick up speed. We anticipate that XRP price volatility will increase as the case develops in reaction to updates and chitchat from both sides.


The materials associated with the Hinman speech continue to be a topic elsewhere. The SEC requested "in camera review suggested redactions to two versions of Director Bill Hinman's June 2018 speech that reference ongoing findings before the Commission," and investors are awaiting the court's reaction.


The SEC intends to use redactions to keep the information from becoming public after failing to protect the documents relating to the Hinman speech under the attorney-client privilege. Investor resolve would be put to the test if the SEC won the case.


Despite the SEC's best efforts, William Hinman continues to play a significant role in the SEC v. Ripple case. Bitcoin (BTC) and Ethereum (ETH) are not securities, according to William Hinman, Division of Corporation Finance, in a well-known 2018 lecture.

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