• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
June 12th - Data released by the Federal Reserve on Thursday showed that the size of U.S. commercial paper increased in the week ending June 10th. In the latest week, seasonally adjusted outstanding U.S. commercial paper increased by $11.4 billion to $1.413 trillion. Unadjusted outstanding commercial paper decreased by $6.9 billion to $1.466 trillion. Some analysts believe that the unadjusted data is more reliable than the seasonally adjusted data because the latter is distorted by the financial crisis. Unadjusted outstanding commercial paper from foreign financial institutions decreased by $7.2 billion to $356 billion.On June 12, the commander of the Hatem Anbia Central Headquarters of the Iranian Armed Forces stated that the United States, while talking about agreements and negotiations, is simultaneously taking malicious actions with ulterior motives. This blatant contradiction between US words and deeds is the root cause of instability in the region, jeopardizing trade security, the international economy, and the security of all nations, especially the Strait of Hormuz. We warn that if the United States attempts to attack Iran again, it will face a much harsher response than before, the conflict will become more widespread and escalate, and the region will descend into insecurity. In light of the recent US threats to strike Iranian oil infrastructure, we hereby declare: oil and gas exports are either open to everyone or closed to everyone.The U.S. Treasury Department website shows that the United States has imposed sanctions on Union Cuba Petroleo.On June 12, two sources familiar with the matter in the United States revealed that the area lockdown and evacuation at the Pentagon that morning were triggered by a false alarm. Earlier that day, multiple sources and local fire departments stated that due to a "hazardous materials incident," several floors and corridors within the Pentagon were locked down, and personnel in some areas were evacuated. A Pentagon spokesperson issued a statement via email stating: "An abnormal air quality was detected in the buildings systems, necessitating preventative measures until the cause is determined. The Department of Defense has issued a shelter-in-place order for the affected areas. Emergency response teams are on standby to provide support to those inside the building."UN Secretary-General António Guterres urged all parties to restore the implementation of the comprehensive ceasefire to avoid further escalation of the situation. He called on the United States and Iran to redouble their efforts to reach a peaceful, comprehensive, and lasting agreement.

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.