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On July 10th, the National Health Commission issued the "Notice on Strengthening the Management of Continuous Medication Use for Residents." The Notice provides policy support for establishing a scientific and standardized mechanism for managing continuous medication use for residents, forming a fair, accessible, systematic, continuous, high-quality, and efficient medication service system. It makes specific provisions in three main aspects: First, establishing and improving a multi-level management mechanism. Based on the actual situation of information technology construction at the provincial, municipal, county, and closely integrated medical consortium levels, the functions of continuous medication use management for residents within the region will be expanded. Second, promoting the co-construction and sharing of medication information, mainly including prioritizing the use of national standards for data collection, recording complete medication information for residents, standardizing individualized medication management for patients, establishing and improving regional medication monitoring and analysis mechanisms, assisting in improving clinical pharmacy service capabilities, strengthening the supply of convenient and beneficial services for residents, and establishing a clinical medication feedback mechanism. Third, standardizing the entire process management of continuous medication use for residents, mainly clarifying the management responsibilities of health administrative departments at all levels and the leading hospitals of closely integrated medical consortia.The National Bank of Kazakhstan reported that Kazakhstans net gold and foreign exchange reserves in June totaled $60.161 billion (a 7.8% decrease month-on-month).On July 10th, the National Energy Administration issued the "Action Plan for Energy Conservation and Carbon Reduction in the Energy Sector (2026-2028)". The plan proposes to conduct research and development on cutting-edge low-carbon, zero-carbon, and negative-carbon technologies. Focusing on key areas such as the clean and efficient utilization of fossil fuels and the large-scale utilization of renewable energy, the plan calls for increased efforts in forward-looking and strategic research on major cutting-edge technologies, accelerating breakthroughs in key technologies such as supercritical carbon dioxide power generation and CCUS, tackling key technologies for flexible and efficient wind and solar hydrogen production and large-scale safe hydrogen storage, and achieving breakthroughs in core technologies such as green hydrogen synthesis catalysis, low-carbon synthesis processes, and long-distance storage and transportation.JPMorgan Chase lowered its price target for Chevron (CVX.N) from $224 to $190.On July 10th, the National Energy Administration issued the "Action Plan for Energy Conservation and Carbon Reduction in the Energy Sector (2026-2028)". The plan proposes optimizing the industrial structure of oil refining and coal-to-oil gas. The oil refining industry will adhere to capacity reduction and replacement, and newly built refineries must meet benchmark energy efficiency standards. It will strengthen coal-to-oil gas production capacity and technology reserves, improve conversion efficiency, and promote energy consumption and carbon emissions per unit of product to reach or exceed industry-leading values. It will accelerate the upgrading and transformation of the oil refining and coal-to-oil gas industries. It will orderly promote the replacement of steam turbine drives with electric drive systems. It will promote the deep integration of coal-to-oil gas, oil refining, and new energy industries, encourage related projects to carry out large-scale replacement of green electricity and green hydrogen, and gradually reduce the use of fossil fuels for hydrogen production. It will promote the large-scale application of CCUS (Coal-to-Gas and Gas).

Crypto broker Genesis owes Gemini’s customers $900 million

Skylar Shaw

Dec 05, 2022 15:25

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The Winklevoss brothers' cryptocurrency exchange Gemini clients are owed $900 million by cryptocurrency broker Genesis and its parent business Digital Currency Group (DCG), the Financial Times reported on Saturday.


According to the publication, which cited persons with knowledge of the situation, cryptocurrency exchange Gemini is attempting to recoup the assets after Genesis was caught off guard by Sam Bankman-FTX Fried's crypto group's bankruptcy last month.


Barry Silbert, the chief executive of venture capital firm Digital Currency Group, informed shareholders last month that Genesis Trading and cryptocurrency asset manager Grayscale owe $575 million to Genesis' crypto lending division.


In order to recover the monies from Genesis and its parent DCG, Gemini, which manages a crypto loan product in collaboration with Genesis, has now established a creditors' committee, according to the newspaper.


Separately, Coindesk reported on Sunday that creditor parties negotiating with Genesis presently account for loans totaling $1.8 billion, and that number is certain to rise.


The law firm Proskauer Rose is representing a second group of Genesis creditors, with loans totaling $900 million, according to CoinDesk, which cited a source.


Reuters contacted Genesis and Gemini for comment, but neither company responded right away.


According to three people familiar with the situation, the New York Times reported last month that Genesis had recruited investment firm Moelis & Company to investigate possibilities, including a potential bankruptcy.


The sudden demise of the cryptocurrency exchange FTX was cited as the reason Genesis Global Capital last month froze customer redemptions in its lending operation.


In the highest-profile crypto meltdown to date, cryptocurrency trading site FTX filed for bankruptcy protection in the US on November 11 after users withdrew billions from the platform in just three days and rival exchange Binance abandoned a rescue plan.