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On May 13th, Alibaba announced at its earnings conference that Taobao Flash Sales overall order volume for the first quarter of this year was 2.7 times that of the same period last year, with non-food retail orders reaching 3 times that of last year. The company is confident of achieving positive UE (Unified Product) before the end of the new fiscal year. Last April, Alibaba launched its food delivery campaign. This means that after a year of competition, Taobao Flash Sales scale is nearly three times that of a year ago.Israel Defense Forces: Strikes have been carried out against Hezbollah infrastructure in southern Lebanon.On May 13th, Tencent executives stated in a conference call following the release of the first-quarter financial report that the companys capital expenditures will increase going forward, and more domestically produced chips will be put into use in the second half of this year. Tencent Cloud has consistently lacked sufficient GPU resources, making it difficult to meet all the needs of external customers, which has impacted revenue generation and market share. The Tencent executives stated that investments in AI include both short-term and long-term investments, and the company will not manage each related product on a quarterly basis, but rather review it based on the asset portfolio and lifecycle.Ukrainian President Zelensky: Sanctions are effective, our remote capabilities are effective, and various pressure tactics are working. We maintain close contact with the United States.Ukrainian President Zelensky: We will not give up diplomatic efforts and hope that pressure on Russia, along with various forms of negotiations, will help bring about peace.

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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