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July 21 – Capital Economics strategist Thomas Mathews stated in a report that gold remains valuable as a hedge against a stock market crash. Recently, golds performance has arguably been more of a "risk" asset than a "safe" one, given its recent price volatility, which has mirrored that of the benchmark S&P 500. Golds poor performance amidst Middle East conflicts appears to have weakened its supposed inflation-hedging role. However, the link between gold and real bond yields appears to remain intact, and any decline in real yields is expected to boost gold. If the US economy is hit and prompts the Federal Reserve to significantly cut policy rates, the recent positive correlation between gold and the stock market will not be sustained.The ChiNext index rose by more than 1%, with memory chips, semiconductors, and gaming sectors leading the gains.Newly listed stock N Tainuo-U opened 246.82% higher; the prospectus shows that the company is dedicated to blood product replacement therapy.On July 21st, Z.ai announced the completion of a 1GW-level domestically produced AI computing power data center, utilizing entirely domestically produced AI chips. Simultaneously, Z.ai also officially completed its acquisition of XCore Sigma, a domestic AI heterogeneous computing power software company. XCore Sigma originated from the Compiler Laboratory of the Institute of Computing Technology, Chinese Academy of Sciences, and has long been deeply involved in heterogeneous computing power software stacks and compiler optimization, considered one of the top AI infrastructure teams in China. Sources indicate that these two moves respectively fill two key gaps in computing power supply and release capabilities. The former provides the computing resources needed for large-scale model training, while the latter improves the utilization rate of heterogeneous chips, reduces inference costs, and enhances model deployment efficiency through basic software capabilities such as compilers, runtimes, and inference engines.On Tuesday, July 21, the Hang Seng Index opened 7.49 points higher, or 0.03%, at 25,150.54; the Hang Seng Tech Index opened 3.51 points higher, or 0.07%, at 4,755.66; the H-share Index opened 0.71 points lower, or 0.01%, at 8,381.19; and the Red Chip Index opened 4.19 points lower, or 0.1%, at 4,069.11.

Owning Government Officials From Working on Regulation

Cory Russell

Jul 07, 2022 16:31

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Government personnel who actively engage in cryptocurrencies or are discovered to be in possession of any are prohibited from taking part in the creation of legislation and policies pertaining to cryptocurrencies, according to a recent directive from the US Office of Government Ethics.

With Some Exceptions

Additionally, the advisory notice made clear that even if the restriction is in effect, it only does so with a de minimis exception.


Owners are still able to invest in cryptocurrencies via publicly listed shares and mutual funds of businesses offering cryptocurrency and blockchain services because to this exception. Stablecoins and all other forms of cryptocurrency are included.


Government personnel are still permitted to acquire cryptocurrencies; but, doing so will prevent them from contributing to the development of crypto-related regulations.


They may still work on such initiatives, however, provided they divert their cryptocurrency holdings into other financial opportunities.


The notification went on to further describe the situation, saying "An employee may not engage in a specific topic if the employee understands that particular item might have a direct and predictable influence on the value of their cryptocurrency or stablecoins."


However, even for those who are permitted to invest in cryptocurrency-related stock index listings, a $50k threshold has been imposed over which the de minimis exemption is no longer applicable.

Crypto investors suffer a loss

The cryptocurrency market isn't in the greatest of health right now, even if the Biden administration is concentrating on creating laws for cryptocurrencies after the POTUS issued an executive order for the same.


The continued bearishness is having an impact on cryptocurrency firms as the overall market value of all cryptocurrencies is struggling to reach $1 trillion.


Voyager Digital has filed for Chapter 11 bankruptcy a week after stopping the platform's withdrawal, trading, and deposit services after Harmony almost went bankrupt a while back.


Thus, even without the US GOE's decision, it would only have taken these investors a little longer to leave the market, similar to how many other investors are already doing.

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