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Hong Kong-listed chip stocks declined, with Hua Hong Semiconductor (01347.HK) falling over 5%, SMIC (00981.HK) down 3.8%, Innoscience (02577.HK) down 2.5%, and Biren Technology (06082.HK) down 2.4%.On January 20th, U.S. Trade Representative Greer stated in an interview with The New York Times that if the Supreme Court overturns the global tariffs imposed by President Trump under the National Emergency Act, the Trump administration could implement new tariffs almost immediately. The Supreme Court is likely to rule on the tariff case in the coming weeks, possibly as early as Tuesday. This case represents a major test of presidential power and whether the Supreme Court is willing to limit the broad powers Trump has wielded since returning to the White House in January 2025. Greer indicated that the government would replace these tariffs with other taxes "starting the next day."On January 20th, Futures News reported that with the recent easing of tensions in the Middle East, market concerns about oil supply disruptions have diminished, leading to a decline in the geopolitical premium for crude oil prices. The market is now refocusing on the fundamental situation of weakening demand, resulting in weak price fluctuations. Zhuochuang Information predicts that while OPEC+ has suspended production increases, keeping oil supply stable, weak demand remains a drag on fundamentals, causing weak price fluctuations. The outlook is as follows: In the short term, demand is supported, but overall inventory levels remain high, insufficient support for price increases, and a slight stalemate between buyers and sellers. The market is expected to continue its stable-to-strong trend, with prices remaining generally stable and the supply of low-priced goods decreasing.On January 20th, the State Council Information Office held a press conference to introduce the implementation of the spirit of the Central Economic Work Conference and the progress in achieving a good start to the 15th Five-Year Plan. Zhou Chen, Director of the Department of National Economic Comprehensive Affairs of the National Development and Reform Commission, stated that looking ahead to 2026, my countrys economic structure will continue to optimize, development momentum will continue to evolve, and the overall development trend will continue to improve. Specifically, new technologies, new products, and new scenarios will emerge, and the National Development and Reform Commission is currently planning and promoting a number of landmark and leading major projects in high-tech industries during the 15th Five-Year Plan period. Online, the innovation chain, industrial chain, and talent chain are accelerating their integration. By 2025, the added value of my countrys digital economy is expected to reach 49 trillion yuan, accounting for approximately 35% of GDP, creating even greater market space in the future. On a broader scale, the innovation-leading role of power source regions continues to strengthen. Currently, my country has 24 innovation clusters ranked among the worlds top 100, ranking first in the world for the second consecutive year.Zhou Chen, Director of the Department of National Economic Comprehensive Affairs of the National Development and Reform Commission, said at a press conference held by the State Council Information Office on the 20th that a number of landmark and leading major projects for high-tech industries during the 15th Five-Year Plan period are currently being planned and promoted.

Banking Behemoth Barclays Buys a Stake in Crypto Firm Copper

Skylar Shaw

Jul 26, 2022 11:35

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One of the biggest banks in the UK, Barclays, has participated in a fundraising round for Copper and is anticipated to spend millions of dollars in the cryptocurrency company, which counts Lord Philip Hammond, a former chancellor of the exchequer, among its advisors.


The investment round for Copper, which offers custody, prime broking, and settlement services to institutional investors investing in cryptoassets, is expected to be completed in the coming days.

Delay of nine months

Despite the recent cryptocurrency meltdown wiping away roughly $40 billion in investor money and more than $2 trillion in market value, Copper has still been able to attract investment from one of the most reputable banks in the world.


Barclays, the world's largest bank, has finished the lengthy investor negotiations that had been put off since November of last year as Copper struggled with a temporary regulatory registration in the UK.


More precisely, the Financial Conduct Authority (FCA) mandates interim registration for digital asset service providers in compliance with money laundering laws. This implies that in order to operate, all crypto-asset enterprises must first seek full FCA registration.


However, Copper subsequently made the decision to become regulated in Switzerland as a result of the financial watchdog's refusal to accept its license registration.


Blockchain.com and Revolut are just two of the many companies that operate under the Temporary Registration Regime (TRR), and more than 100 businesses filed for registration when the FCA took over as the UK's anti-money laundering and counter-terrorism funding body in 2020.

Banking Megacorp

Bloomberg reports that although Barclays has made an undisclosed investment in the "millions of dollars," individuals with knowledge of the situation indicated last year that the funds might increase Copper's worth to around $3 billion. Additionally, the sources said they were uncertain whether the sum raised would be made public.


In 2015, Barclays became one of the first traditional banks to promote cryptocurrency when it started enabling charities to accept contributions made in Bitcoin (BTC) as a form of alternative payment.


However, the bank also has a murky history with cryptocurrencies, having prevented UK-based clients from sending money to Binance by forbidding them from paying the exchange using a credit or debit card. The restriction was implemented soon after the Financial Do Authority said that Binance Markets Limited was no longer permitted to conduct cryptocurrency business in the nation.


Similar to this, Barclays already severed connections with Coinbase and is no longer the bitcoin exchange's financial provider.


In a Series B fundraising round that included Illuminate Financial Management, LocalGlobe, and MMC Ventures and was co-led by Dawn Capital and Target Global last year, London-based Copper received $50 million.

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