• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 23, Ukrainian President Volodymyr Zelenskyy stated that Ukraine did not participate in any actions to sabotage the Nord Stream gas pipeline connecting Russia and Europe. This comes after a Ukrainian suspect wanted by Germany was arrested in Croatia, becoming the second Ukrainian suspect detained in the case. Zelenskyy said, "Ukraine has never participated in this operation, not even in the first place. I hope the investigation will be fruitful. We are ready to provide assistance." Zelenskyy indicated that the Ukrainian Prosecutors Office and the Ministry of Foreign Affairs are investigating the matter.On August 23, some Japanese citizens held a rally in Tokyo to protest the Sanae Takaichi governments attempts to revise the constitution and its series of military expansion initiatives. Participants strongly opposed the governments push to revise the "Three Security Documents" and attempt to amend the "Three Non-Nuclear Principles."On August 23, Federal Reserve Chairman Neel Kashkari downplayed market concerns about rising U.S. Treasury yields, stating that the market is functioning well and the recent surge is unlikely to affect discussions on monetary policy. Kashkari said on Sunday, "All indications suggest that the U.S. Treasury market is functioning normally, trading is proceeding smoothly, and market liquidity is ample, therefore we can use the federal funds rate as the primary policy tool for reducing inflation." Last week, yields on U.S. Treasury bonds of all maturities rose, with the benchmark 10-year Treasury yield closing at around 4.73%. The 30-year Treasury yield remained near its highest level since 2007. Kashkari stated that while current Treasury yields are high relative to recent historical levels, yields in the 1990s were much higher. "We need more data, but I dont want to prejudge the outcome of the next meeting," he said. "However, I dont currently believe that inflation will fall back to the target level in the short term."Russian President Vladimir Putin: Ukraines 40-day "influence operation" against Russia has failed to change the situation, and Russian forces are continuing their advance.On August 23, affected by Typhoon Zitan (No. 19 of this year), many parts of Guangxi experienced heavy to torrential rain, with some areas experiencing extremely heavy rain. Several rivers exceeded warning levels, and some towns in Fangchenggang and Chongzuo cities faced flooding risks. On August 23, Guangxi held a video conference to coordinate flood and typhoon prevention efforts. According to statistics, as of 6 PM on August 23, 64 townships (subdistricts) in 17 counties (cities, districts) of 6 cities including Fangchenggang, Chongzuo, and Nanning experienced heavy torrential rain, with some areas experiencing extremely heavy rain. 92 townships (subdistricts) in 30 counties (cities, districts) of 10 cities experienced heavy rain. 15 stations on 10 rivers, including the Mingjiang River and its tributaries Gongan River and Pailian River, and the Zuojiang River and its upstream Pinger River, exceeded warning levels. The typhoon has affected 61,000 people, with 54,000 relocated and 8,087 people urgently relocated and resettled. All flood control and disaster relief work is being carried out in an orderly and solid manner.

Cryptocurrencies at crossroads after annus horribilis

Eric Stanberg

Dec 21, 2022 15:40

微信截图_20221221104629.png


To paraphrase Queen Elizabeth of the United Kingdom, the bitcoin industry won't look back on 2022 with pure joy.


Investors began to pose major existential issues at the end of the year as a result of the rapid series of crashes, contagion, and breakdowns.


After all, the biggest cryptocurrency, bitcoin, has struggled to maintain its value for more than a week at a time and has dropped by almost 75 percent from its high of $69,000 in November of last year.

Many of the 22,000 or so tokens and coins are comatose, if not dead, and their market value is now less than a third of their high $3 trillion worth in November 2021.


That came as a harsh reality check for an industry that began 2022 with hopes for widespread institutional adoption, the replacement of gold as the primary inflation hedge by bitcoin, endorsements from people like Tesla Inc. CEO Elon Musk, and the frenzied celebration of non-fungible tokens valued at billions of dollars.


The Fed's extreme hawkishness didn't only hit cryptocurrencies hard; TerraUSD's collapse, a stablecoin, also caused a "Lehman moment" when funds and brokers like Celsius and Voyager went bankrupt.


The collapse of Sam Bankman-FTX Fried's exchange last month, which some saw as the death knell for cryptocurrencies, was one such event.