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August 24th - According to sources familiar with the matter, the Canadian government believes the possibility of resuming negotiations with US President Trump before the midterm elections is extremely slim, as trade talks have broken down. The source stated that Canadian Prime Minister Carney indicated he would prepare a domestic aid package to help businesses affected by US tariffs. Sources say these measures are designed to help businesses weather the remainder of Trumps term if necessary. However, while the Carney government sees no immediate signs of restarting negotiations, some sources warn that the situation remains dynamic, and the US has not ruled out renegotiating. The sudden breakdown of negotiations has forced Carney to prepare for a potentially long winter. Carney reportedly told reporters, "We will support affected businesses for as long as possible, in other words, even beyond the end of this US administrations term. We have established various mechanisms, and all details will be released within the next few days."On August 24th, it was reported that the U.S. Postal Service issued new rules for mail-in ballots on August 23rd local time. The rules require states to submit lists of voters who have applied for mail-in ballots and to affix unique barcodes containing names and addresses to both mailed and returned ballot envelopes for verification and tracking. The U.S. Postal Service stated that the collected data will be managed separately from state voter rosters and will aid in the enforcement of federal law. Due to a court injunction, the new rules will not take effect immediately and will only be implemented after the injunction is lifted. This years midterm elections are crucial for the battle for control of the House and Senate. Regarding mail-in ballots, the Supreme Court rejected a Republican appeal in June, allowing some local governments in the U.S. to still count ballots postmarked no later than Election Day but delivered later.The Nikkei 225 index opened down 153.79 points, or 0.23%, at 65,862.57 on Monday, August 24.On August 24th, according to foreign media reports, ExxonMobil stated in a statement that a fire in the laundry room of a floating vessel off the coast of Guyana forced the company to temporarily suspend operations at the facility. The statement said the fire on the Liza Unity floating production storage and offloading (FPSO) unit was quickly extinguished. An ExxonMobil Guyana spokesperson said that crude oil unloading operations were affected due to the temporary shutdown. The Liza oil field is key to Guyanas transformation into a major crude oil producer, and the Liza Unity FPSO is responsible for producing approximately 250,000 barrels of crude oil per day of the more than 900,000 barrels per day in the Stabrok block.According to Al Jazeera: Israeli airstrikes near a hospital in Gaza have injured several people.

S&P500 Forecast: Is 4300 the Next Stop on the Market’s Upward Climb ?

Jimmy Khan

Feb 16, 2023 15:48

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Wednesday's trading was upbeat, as the market value for cryptocurrencies reached $1 trillion once again. Investor concerns were reduced by Capitol Hill talk and new SEC regulations.


The top 10 cryptocurrencies had a positive day on Wednesday. Strong support was seen for ADA, BNB, and ETH. For the first time since August 2023, BTC took the lead, closing the day at $24,000.


US retail sales numbers that were hotter than anticipated failed to frighten investors. Because January retail sales increased by 3.0%, the cryptocurrency market momentarily fell. Economic experts anticipate a 1.8% rise. Before the noticeable uptick in spending in January, retail sales had declined for two straight months.

Congressmen on Capitol Hill brought a crypto rally

The optimistic midweek session was bolstered by less regulatory risk. After the SEC's actions against Kraken and Binance USD (BUSD), the SEC adopted a new strategy.


On Wednesday, the SEC put up changes to its custody regulations that would include cryptocurrency. The modifications would affect custody regulations as well as accounting requirements, reporting requirements, and investment advisor registration.


SEC Gary Gensler said, "I support this plan because it will assist to guarantee that advisors don't illegally utilize, lose, or misuse clients' funds by using significant tools Congress provided us following the financial crisis."


"Congress specifically granted us power to broaden the advisors' custody rule to apply to all assets, not just funds or securities," Gensler said.


Attention was also drawn to activity on Capitol Hill, as legislators reintroduced a plan to make it easier to invest in cryptocurrencies in retirement accounts. The "Financial Freedoms Act" is about to be reintroduced, according to a tweet from former House speaker Nancy Pelosi.


"It intends to ban the Department of Labor from prohibiting people from investing their 401(k)s in cryptocurrency," the author said. It should be everyone's right to invest their retirement funds anyway they see appropriate.


The revelation on Wednesday came after lawmakers scrutinized the SEC on Tuesday, which could have compelled the SEC to adopt a more cautious stance toward the digital asset market.


The fact that not all US legislators are against cryptocurrency proved advantageous to investors.