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On January 26th, a video claiming to show "gold refining" went viral on social media. In the video, a blogger claimed to have extracted a 191.73-gram piece of gold from a pile of discarded SIM cards and electronic chips through a series of complex processes. Based on current market prices, this small gold nugget would be worth over 200,000 RMB. Facing the public outcry, the blogger later clarified that he used 2 tons of raw materials, not all of which were shown in the video, and that it wasnt all SIM cards or credit card chips, but rather a collection of discarded electronic chips rich in gold plating. Mr. Lin, who has long been involved in the precious metals recycling industry, stated that the industry is very mature, and SIM cards, keyboards, and various electronic devices generally have gold plating. However, some self-media claims contain factual errors. Compared to the 0.02 grams of gold in a SIM card, the commonly used Nano-SIM card is only capable of yielding about 0.02 milligrams of gold, a difference of 1000 times from what is claimed online.Shenzhen Stock Exchange: The list of securities eligible for the Hong Kong Stock Connect has been adjusted, with Aneng Logistics being removed, effective January 26.According to Futures News on January 26, as of 8:30 AM Beijing time, spot platinum rose 0.22% and spot palladium rose 1.98%.January 26th - The Hong Kong Economic Journal, citing Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, reported that deposit rates have fallen back to zero, leaving banks with limited room to further lower their prime lending rates. From a risk management perspective, Yuen stated that banks should avoid further narrowing their net interest margins and should maintain a prudent strategy. Hong Kongs non-performing loan ratio rose slightly to 1.98% in the third quarter of last year.Yoshihiko Noda, leader of Japans Constitutional Democratic Party: The government must avoid interfering with the Bank of Japans efforts to raise interest rates.

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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