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July 3 - According to the latest statistics from the European Automobile Manufacturers Association (EAMA), Chinese passenger car manufacturers surpassed Japanese manufacturers in market share in Europe for the first time in May. Data shows that in May, five Chinese automakers sold 138,400 vehicles in 31 European countries, a year-on-year increase of 65%; while six Japanese automakers sold 130,400 vehicles in the same 31 countries, a year-on-year decrease of 3%.On July 3, Faraday Future (FFIE.O) announced that it plans to hold an online extraordinary general meeting of shareholders at 0:00 Beijing time on August 13 to seek approval of proposals aimed at supporting the global deployment and long-term growth of the companys EAI robots. Among the proposals, the Board of Directors is calling on all shareholders to approve the amendment to the companys Third Amendment and Restation of Incorporation Certificate, changing the company name from Faraday Future Intelligent Electric Inc. to Faraday Future Physical AI Ecosystem Inc.On July 3, Russian Deputy Prime Minister Novak instructed relevant departments and enterprises to develop specific measures to stabilize fuel supplies in the regions most severely affected by the situation. TASS reported on July 2 that Novak stated Russia has sufficient fuel reserves to meet domestic market demand, but panic buying has led to a 20% to 30% increase in demand. Shortages at some gas stations are due to adjustments in the logistics of refineries distribution to specific oil depots and gas stations, and readjusting the logistics system will take time. He also indicated that Russia may implement a short-term diesel export ban to ensure domestic supply.The China Earthquake Networks Center officially reported that a 6.2-magnitude earthquake occurred at 10:31 a.m. on July 3 in the sea area near Halmahera Island, Indonesia (1.85 degrees north latitude, 127.40 degrees east longitude), with a focal depth of 120 kilometers.July 3rd - On Friday, the dollar was on track for its biggest weekly drop in nearly three months after a weak June jobs report delayed market expectations of a Federal Reserve rate hike, giving the weak yen some breathing room. The sharp slowdown in U.S. job growth in June prompted traders to lower their expectations for a near-term Fed rate hike, with the market now pricing in a 52% chance of a rate hike at the September meeting, down from 64% the previous trading day. U.S. Treasury yields also retreated from earlier highs, with the two-year Treasury yield ending a three-day winning streak. "Marginally, this data is dovish, helping to ease concerns about an overheated labor market and the need for more aggressive policy tightening," said Sim Moh Siong, FX strategist at OCBC Bank. However, he added that as long as expectations of Fed tightening remain unchanged, the overall outlook for the dollar remains constructive, especially against lower-yielding currencies.

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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