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On March 23, Country Garden Holdings Co., Ltd. (02007.HK) announced in Hong Kong that the Group expects its profit for the year ended December 31, 2025 to be between approximately RMB1 billion and RMB2.2 billion, compared to a loss of approximately RMB35.145 billion in 2024. The turnaround to profit this year is mainly due to the non-cash gain recorded from the Groups debt restructuring. Excluding the impact of the aforementioned debt restructuring gain, the Groups loss was mainly due to industry factors, which put pressure on the gross profit margin of the Groups development business, and further impairment provisions for certain assets and property projects.Money markets reduced bets on a European Central Bank rate hike, with deposit rates now expected to be 2.72% by year-end, compared to an earlier forecast of 2.94%.U.S. energy stocks gave back gains in pre-market trading, with Chevron down 1.2%, ExxonMobil down 1.3%, Occidental Petroleum down 4.5%, and ConocoPhillips down 1.8%.On March 23, China Aoyuan (03883.HK) announced in Hong Kong that the company and AddHero are finalizing the distribution arrangements for the relevant trust assets and have exercised their discretion. In accordance with the terms of the China Aoyuan and AddHero schemes, without extending the application deadline (which expired on February 27, 2026), the holding period will be further extended to allow the trust assets to be distributed in accordance with the terms of the holding period trust deed. The holding period will end when the trust assets are distributed.According to RIA Novosti, Russian Foreign Minister Sergey Lavrov stated that the attack on Iranian nuclear facilities is unacceptable.

XRP Bears to Target Sub-$0.3650 on SEC Activity and Fed Fear

Alice Wang

Feb 15, 2023 16:12

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Tuesday saw an increase in XRP of 3.13%. Reversing a Monday decline of 1.14%, XRP finished the day at $0.38228. Since January 13, XRP has twice gone below $0.37.


XRP saw a negative start to the day, dropping to a low point of $0.36491 early on. After avoiding the First Major Support Level (S1) around $0.3624, XRP surged to a high of $0.38373 in the last hour. To close the day at $0.38228 XRP successfully overcame the First Major Resistance Level (R1) at $0.3787.

US Legislators Question Gensler's Strategies

There were no new developments in the SEC v. Ripple lawsuit on Tuesday that may have changed market sentiment. Following SEC actions against Kraken, staking services, Paxos, and Binance USD, US politicians offered relief (BUSD).


Gary Gensler and the SEC were the subject of increased scrutiny on Tuesday in the aftermath of the FTX bankruptcy.


A hearing titled Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets was conducted on Tuesday by the Senate Banking Committee. Gary Gensler and the SEC's shortcomings were brought to light by concerns about their regulation through enforcement and lack of SEC advice to crypto companies.


Legislators noted Gensler's appearances on morning talk programs and called for him to testify as soon as possible.


Investors saw the emphasis on Gensler and the SEC's enforcement-based regulation as advantageous, supporting a bullish day. The timing of Gensler's strategies is crucial for the SEC since Judge Torres, who is presiding over the case, is now in charge of the SEC v. Ripple.


The cryptocurrency markets will be hoping that Ripple succeeds so that US politicians are forced to take action against the SEC Chair. More crucially, the CFTC may take control if the records relating to the William Hinman speech are made public.


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