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The main fuel oil futures contract rose by more than 5%, currently trading at 3,685 yuan per ton.The chart shows that at 22:00 Beijing time on August 11, there will be large foreign exchange options contracts for Euros, Japanese Yen, etc., expiring. There are 3 large contracts with strike prices of over 1 billion. Please manage your risks.On August 11, the Zaporizhia Regional Military Administration of Ukraine reported that Russia launched a large-scale combined attack on Zaporizhia using missiles and guided-missile bombs in the early hours of the day, resulting in 6 deaths and 19 injuries. The attack damaged four residential buildings and non-residential structures. All the injured have received medical attention. The Russian Ministry of Defense also reported on August 11 that Russian forces used land-based high-precision weapons to strike military industrial enterprises and logistics centers in Kyiv and Zaporizhia in the early hours of the day.Aluminum prices rose for the seventh consecutive day on August 11th as the prospect of a swift agreement to reopen the Strait of Hormuz faded, exacerbating market concerns that Middle Eastern supplies would remain constrained for the foreseeable future. The increasingly hardline stances of both the US and Iran mean a protracted tug-of-war to reach an agreement has dampened hopes for normalizing aluminum supplies, while global inventories are hovering near multi-decade lows. The Middle East accounted for about one-tenth of global production before the war. Aluminum prices surged at the beginning of the war before retreating as the US and Iran entered into negotiations. Prices have since resumed their upward trend, rising more than 8% since the end of June, driven by the continued delays in negotiations to end the war and investors reducing their bets on US interest rate hikes, fueling a broader rally in base metals.The local governor said that an industrial enterprise in Russias Orenburg region caught fire after being attacked by an "enemy drone".

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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