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On June 26, Leapmotor launched its first MPV model, the D99, equipped with dual Qualcomm SA8797 chips, a full-modal AI large model, and standard four-wheel drive system and continuously variable damping shock absorbers. It offers two power options: range-extended and pure electric, with prices starting from 249,800 yuan.On June 26th, according to Qichacha APP, Hangzhou Feikuo Technology Co., Ltd. recently underwent industrial and commercial registration changes, adding Zhiyuan Innovation (Shanghai) Technology Co., Ltd., an affiliate of Zhiyuan Robotics, as a shareholder, and increasing its registered capital to 1.07 million yuan. Qichacha information shows that the company was established in 2024, and its business scope includes: R&D of intelligent robots; manufacturing of industrial robots; manufacturing of intelligent unmanned aerial vehicles; and sales of artificial intelligence hardware. Public information shows that Feikuo Technology, as a secondary development company, accurately targets the scenario-based application of robot-embodied intelligence.On June 26, Xi Jinping, General Secretary of the CPC Central Committee and President of China, met with Hun Sen, Chairman of the Cambodian Peoples Party and President of the Senate, at the Great Hall of the People. Xi Jinping emphasized that the current international and regional situation is undergoing complex and profound changes, and China and Cambodia should work together to demonstrate their responsibility amidst change and uphold justice amidst chaos, injecting more stability into regional peace and development. China is willing to establish a security partnership with Cambodia. China highly appreciates Cambodias determination and actions in combating telecommunications and online fraud and is willing to work with Cambodia to continue its efforts to completely eradicate this "cancer" of telecommunications fraud.On June 26th, XPeng Robotics Center announced the establishment of nine new secondary departments. He Xiaopeng, who previously announced his personal appointment as head of the Robotics Center, also currently serves as the head of the Product Department, directly reporting to the heads of various organizations within the Product Department. Additionally, He Xiaopeng reports directly to Gu Jie, Liu Xianming, and Yu Tao, who respectively head the Embodied Systems Engineering Department, the General Base Department (virtual), and the Brand Marketing Department (acting). Previously, He Xiaopeng stated in an internal letter that he dedicates a full day each week to "in-depth thinking and discussion about the robotics business and the robotics team." Currently, XPeng Robotics Center comprises nine secondary departments: Product Department, Embodied Systems Engineering Department, Control and Safety Development Department, Embodied Intelligence Department, Data Closed-Loop Department, General Base Department (virtual), Product Matrix Department (virtual), Brand Marketing Department, and Project Management Department.June 26 - According to information released by Moscow Mayor Sergei Sobyanin via social media on June 26 local time, between 2:24 AM and 7:23 AM that day, Russian air defense systems shot down 47 drones heading towards Moscow. The Russian Ministry of Defense also reported early on the 26th that overnight, Russian air defense forces intercepted and destroyed 660 Ukrainian fixed-wing drones in multiple locations.

California’s DFPI Investigating Multiple Crypto Lending Companies

Jul 14, 2022 14:28

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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.