EUR/USD 1.16843
0.080%
Gold 4617.67
1.634%
Oil 104.478
-0.839%
USD/JPY 159.620
-0.511%
GBP/USD 1.34919
0.122%
GBP/JPY 215.363
-0.387%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 30th, Yu Minhong stated that granting equity is a standard employee incentive method for listed companies, and he had initially explicitly refused it. Since the founding of Oriental Selection, he has never received a single penny of salary. However, the board of directors and shareholders believe that without equity incentives, it would be disproportionate to the efforts made for Oriental Selection. Yu Minhong also promised that after the equity is vested and taxes are paid, all cash proceeds will be used for three main purposes: first, to establish a chairmans reward fund to reward employees who have made outstanding contributions to Oriental Selection; second, to donate to the New Oriental Foundation, entirely to support rural primary and secondary school students; and third, to donate a portion to Peking University to help students from rural areas.Piper Jaffray raises its price target for Amazon (AMZN.O) from $260 to $315.On April 30th, Hang Seng Indexes Company Limited announced the launch of four new indices: the Hang Seng Biotech Index Short Position Index, the Hang Seng Biotech Index 2x Short Position Index, the Hang Seng Biotech Index 2x Leveraged Index, and the Hang Seng Biotech Index Dividend Cumulative 2x Leveraged Index. These new indices aim to reflect the performance of short-position or leveraged investment strategies in the Hang Seng Biotech Index, with each strategy investing daily according to a predetermined leverage ratio.Italys unemployment rate in March was 5.2%, below the expected 5.3% and the previous figure revised from 5.30% to 5.4%.April 30 (Interfax) – Russian Deputy Prime Minister Novak said on Thursday that the OPEC+ group of major oil-producing countries will assess various possibilities for supplying oil to the global market at its meeting on Sunday. Novak stated, "In the current situation, supplying oil and petroleum products to the market is crucial. Therefore, it may be necessary to examine existing potential opportunities." Three sources familiar with the discussions told Reuters that despite the US-Israel war in Iraq disrupting most OPEC+ exports and the withdrawal of key member UAE, the organization may still reach an agreement on a slight increase in oil production quotas at its Sunday meeting.

California’s DFPI Investigating Multiple Crypto Lending Companies

Jul 14, 2022 14:28

微信截图_20220714142242.png


The California Department of Financial Protection and Innovation (DFPI), which regulates the activities of state-licensed financial institutions such as banks and premium finance businesses, has announced that it is investigating whether businesses that suspended customer withdrawals and transfers broke any laws.


More specifically, the government is looking at a number of cryptocurrency businesses with U.S. headquarters after some reputable lenders permanently stopped allowing transfers and withdrawals between user accounts.

Accounts for crypto assets that pay interest

In particular, the Department of Financial Protection and Innovation is concentrating on "multiple companies" that provide customers with interest-bearing crypto asset accounts, also known as crypto-interest accounts, as well as service providers who "may not have adequately disclosed risks customers face when they deposit crypto-assets onto [lenders'] platforms."


To ascertain if they are breaking any laws that fall within the purview of the Department is the main goal of the inquiry.


The DFPI previously emphasized that providers of crypto-interest accounts are not subject to the same regulations and safeguards as banks and credit unions, which is particularly concerning in light of some platforms' restrictions on customers' ability to withdraw money from and transfer funds among their accounts.


Because of this, the agency has advised customers to proceed with "great care" before answering any inquiries about investments or financial services.


Also pointing to two cease and desist orders it recently sent to BlockFi and Voyager Digital to suspend their sales in California, DFPI has shown how certain crypto-interest account providers have been promoting unregistered securities.

securing customer property

Following Voyager Digital, the second well-known cryptocurrency business to file for Chapter 11 bankruptcy in recent weeks, DFPI made its statement. The Toronto-based company calculates that it has between $1 and $10 billion in assets, over 100,000 creditors, and liabilities of the same amount.


According to Voyager Digital, the action is a part of a "Plan of Reorganization" that intends to provide customers access to their accounts once again. Customers will have the option of receiving cryptocurrency, money recovered from Three Arrows Capital, common shares in the newly reorganized business, and Voyager tokens.


Due to worries about liquidity, Celsius (CEL) has stopped withdrawals and transfers since June 12. There are rumors that the management of the firm has been discussing Chapter 11 bankruptcy with attorneys.


As it faces with the potential of bankruptcy, the business is presently seeking restructuring guidance from the advising firm Alvarez & Marsal.


Additionally, the turbulent market circumstances last week caused the Singapore-based cryptocurrency platform Vauld to stop operations. The business instantly halted all trading, deposits, and withdrawals, and said that, up until further notice, it would only accept client deposits for its collateralized loans product.


Currently, numerous platforms have had client money frozen for many weeks while the future of their depositors' assets is still unknown.


Suggestion