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On September 16th, European natural gas prices fell below €32/MWh in early trading, pressured by rising renewable energy generation and steady additions to natural gas inventories. ANZ Research analysts stated, "German electricity prices fell to their lowest level since December 31st last year, driven by strong winds expected to drive a significant increase in renewable energy generation this week." Meanwhile, data from the European Gas Infrastructure Association, an industry organization, indicates that EU natural gas inventory levels have exceeded 80%. Traders are awaiting clarity on Western sanctions against Russia, and ample inventories are helping to alleviate market concerns about disruptions in Russian gas supplies.The New York Times (NYT.N) fell 1.3% in premarket trading after Trump sued the company for defamation.On September 16, the National Highway Traffic Safety Administration said on Tuesday that it would launch a so-called "preliminary assessment" on the issue that the electronic door handles of some Tesla Model Y models may lose power and fail. The investigation covers some 2021 Model Y models. A few days ago, an investigation exposed a number of accidents: after the vehicle lost power, the occupants were injured or died because they could not open the door. The National Highway Traffic Safety Administration said: "This investigation focuses on the operability of the vehicles external electronic door locks because in this case, there is currently no way to manually open the door. The agency will continue to monitor all reports involving being trapped when opening the door from the inside of the vehicle, and the Vehicle Defects Investigation Office will take further action as needed."September 16: Building materials trading volume reached 110,500 tons, a 6.04% decrease from the previous trading day. September 15: Building materials trading volume reached 117,600 tons, a 1.03% increase from the previous trading day. September 12: Building materials trading volume reached 116,400 tons, a 26.66% increase from the previous trading day. September 11: Building materials trading volume reached 91,900 tons, a 1.18% decrease from the previous trading day. September 10: Building materials trading volume reached 93,000 tons, a 8.28% decrease from the previous trading day. Last weeks average: Building materials trading volume was 10,308 tons.On September 16th, ING Bank stated in a research report that the US dollar is likely to remain relatively weak. The report pointed out that the US dollar started the week on a weak note, which may be partly related to the markets early positioning for the expected Federal Reserve interest rate cut later this week. ING Bank said that the weakening of the US dollar was also affected by the benign external environment. Global stock markets continued to rise slightly due to the dual effects of resilient business confidence and the expected decline in core borrowing costs. The report stated that this situation would typically prompt capital to flow into risky assets and non-US dollar markets, thereby reducing investor demand for the safe-haven currency, the US dollar. ING Bank said that the focus of the market on Tuesday will be US retail sales data.

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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