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On September 11, Tencent Music (01698.HK) announced the completion of its public offering of US$1 billion in principal amount of senior unsecured notes on September 10, 2026 (Eastern Time). This includes US$500 million in notes with a coupon rate of 5.050% due in 2031 and US$500 million in notes with a coupon rate of 5.65% due in 2036. These notes are registered under the U.S. Securities Act of 1933 (as amended) and are expected to be listed on the Hong Kong Stock Exchange on September 11, 2026. After deducting underwriting discounts and commissions and estimated offering expenses, the company received net proceeds of approximately US$992 million from the offering. The company intends to use the net proceeds from the offering for general corporate purposes, including refinancing of offshore debt and share buybacks.According to the Financial Times, the EU is seeking new ways to access frozen Russian assets.On September 11, two US officials stated that Saudi Crown Prince Mohammed bin Salman called President Trump twice on Thursday, urging him to launch an attack on the Houthi rebels after the group seized a strategic coastal city in Yemen, bringing it closer to the Bab el-Mandeb Strait. Trump rejected the request, and US officials emphasized that the government currently has no plans for direct intervention in the Houthi campaign. With Iran already disrupting traffic in the Strait of Hormuz, the Houthi control of the Bab el-Mandeb could give Tehran significant new leverage to pressure the US and its Gulf allies. The US, concerned about the rapid escalation of the situation in Yemen, is increasing its support for Saudi Arabia while simultaneously trying to avoid direct military intervention. Saudi Arabias request for direct US intervention marks a sharp reversal of its stance in July, when Riyadh told Washington it could handle the Houthis on its own. However, as the fighting intensified, Saudi Arabia began seeking increasing support.According to the Financial Times, a meeting between Iran and Gulf states is scheduled for next Monday in Salalah, a coastal city in Oman, according to two sources familiar with the matter. One of the sources said that details have not yet been finalized, but some countries have confirmed their attendance, and the meeting is expected to proceed as scheduled.According to the Financial Times, Iran and Gulf states will hold a meeting to push for the Hormuz Agreement.

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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