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On April 14th, it was learned from the Beijing Municipal Commission of Transport that the Beijing Municipal Transportation Law Enforcement Team has recently launched an investigation into Shanghai Hello Bike Technology Co., Ltd. for illegally deploying excessive numbers of shared bicycles in Beijing. Going forward, Beijings transportation authorities will continue to strengthen supervision of the shared bicycle industry, urging all operating companies to earnestly fulfill their responsibilities and operate in accordance with laws and regulations. For issues such as illegal deployment and untimely data access, measures such as interviews, administrative penalties, and dynamic control of the total number of bicycles will be taken in accordance with the law. Companies that repeatedly violate regulations and refuse to rectify their practices will be severely punished according to law.The China Earthquake Networks Center officially determined that a magnitude 3.1 earthquake occurred in Tongliang District, Chongqing (29.61 degrees north latitude, 106.07 degrees east longitude) at 11:53 on April 14, with a focal depth of 8 kilometers.On April 14th, Japans 20-year government bond auction attracted the strongest demand since 2019, with higher yields continuing to attract investors despite ongoing conflicts in the Middle East. The bid-to-cover ratio for Tuesdays auction was 4.82, compared to 3.25 in the previous auction and a 12-month average of 3.27. Prices of Japanese government bonds rose after the auction.DeepX, a South Korean AI chip startup, is preparing for an IPO in South Korea.On April 14th, the Shenzhen Intermediate Peoples Court of Guangdong Province held a public hearing from April 13th to 14th, 2026, for the case brought by the Shenzhen Municipal Peoples Procuratorate against Evergrande Group Co., Ltd. for illegally absorbing public deposits, fundraising fraud, illegally issuing loans, fraudulently issuing securities, illegally disclosing important information, and corporate bribery; Evergrande Real Estate Group Co., Ltd. for fraudulently issuing securities; and Xu Jiayin for illegally absorbing public deposits, fundraising fraud, illegally issuing loans, illegally using funds, fraudulently issuing securities, illegally disclosing important information, embezzlement, and corporate bribery. During the trial, the court presided over the investigation and debate between the prosecution and the defense regarding the facts alleged. The defendant companies and Xu Jiayin made final statements. Xu Jiayin pleaded guilty and expressed remorse in court. The court will announce its verdict at a later date.

Bitcoin falls below $19,000 as cryptos creak under rate hike risk

Skylar Shaw

Sep 20, 2022 14:27

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On Monday, cryptocurrency prices hit new lows as a result of regulatory worries and a general investor reluctance to engage in risky assets due to impending interest rate increases.


By market value, Bitcoin, the most valuable cryptocurrency, dropped almost 5% to a three-month low of $18,387.


The second-largest cryptocurrency, ethereum, lost 3% to a two-month low of $1,285 and had lost more than 10% in the previous day. The majority of the smaller tokens had larger losses.


Over the weekend, a significant update to the Ethereum blockchain—which supports the ether token—called the Merge changed how transactions are handled and reduced energy consumption.


The value of the token has decreased amid rumors that comments made last week by Gary Gensler, chairman of the U.S. Securities and Exchange Commission, suggested the new structure would draw further regulation. The upgrades' surrounding trades were likewise unwound.


The regulatory outlook is guesswork, according to Matthew Dibb, COO of Singapore's Stack Funds cryptocurrency platform.


Since the Merge, the markets have shed a lot of their excitement, he said. Given the uneasy global background, he said, "It's truly been a sell-the-news sort of event," and predicted that ether will test $950 in the near future.


"From a basic and technological standpoint, the current situation does not appear promising. There isn't a clear quick positive trigger that will support these markets and inject a ton of fresh cash and liquidity, in our opinion.

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