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Iranian President: The relevant "memorandum of understanding" is a bilateral matter, and if the US abides by the terms of the agreement, Iran will also fulfill its own obligations.Sources say Comcast may build data centers to capitalize on the growth of artificial intelligence.The Dow Jones Industrial Average rose 305.97 points, or 0.59%, to close at 52,182.08 on Monday, June 29; the S&P 500 rose 86.34 points, or 1.17%, to close at 7,440.36; and the Nasdaq Composite rose 522.53 points, or 2.07%, to close at 25,820.14.On June 30th, Paul Ziana, head of technical research at Bank of America, stated that investors should hedge against further rallies in the S&P 500 and prepare for a potential "three-wave correction" in the coming months. Ziana wrote that the S&P 500 has risen nearly 17% since its March lows, but the rally has shown signs of fatigue since the benchmark index hit its recent peak on June 2nd. He indicated that the S&P 500 could fall to 6850 points, a drop of approximately 7.6% from current levels. Ziana stated, "The post-Iran ceasefire rally is becoming increasingly volatile as the risk of a correction accumulates." He added that price action appears "overstretched" and momentum is deteriorating, therefore a "defensive stance" should be adopted between July and September.June 30th - U.S. stocks closed Monday with the Dow Jones Industrial Average up 0.59%, the S&P 500 up 1.1%, and the Nasdaq Composite up 2.07%. Western Digital (WDC.O) rose 11%, Seagate Technology (STX.O) rose over 7%, SpaceX (SPCX.O) rose 7%, Micron Technology (MU.O) rose 1%, and Nvidia (NVDA.O) rose 1%. The Nasdaq China Golden Dragon Index closed up 1.4%, and Baidu (BIDU.O) rose over 7%.

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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