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August 4th - Recently, the Cyberspace Administration of China (CAC) launched a special campaign called "Clean Up the Online Environment and Rectify Malicious Hype of Enterprise-Related Information." Based on letters from relevant departments and local cyberspace administrations, a number of illegal and irregular accounts that infringe upon the legitimate online rights and interests of enterprises and entrepreneurs will be dealt with severely.According to JLC Network Technology, several airlines will lower domestic fuel surcharges starting from midnight on August 5th, marking the third reduction this year. After the adjustment, adult passengers will be charged 40 yuan for flights of 800 kilometers or less, and 70 yuan for flights over 800 kilometers, a decrease of 10 yuan and 30 yuan respectively compared to before the adjustment. 1. This fee has fluctuated throughout the year: it remained low in the first quarter (10 yuan for flights under 800 kilometers, 20 yuan for flights over 800 kilometers); due to geopolitical conflicts, international crude oil and jet fuel prices rose, leading to consecutive increases in April and May, peaking in May (90 yuan/170 yuan); subsequently, with the easing of geopolitical tensions and falling oil prices, it decreased twice in June and July, finally seeing a third consecutive drop on August 5th. 2. Domestic fuel surcharges are linked to aviation kerosene prices and are determined by the National Development and Reform Commission and the Civil Aviation Administration of China based on international oil prices, which airlines then implement. Currently, it is still summer vacation, and long-distance travel is increasing; this reduction will slightly lower the cost of long-distance air travel for the public.On August 4th, Japanese Economy, Trade and Industry Minister Minoru Jonouchi stated that the cost increases caused by the Middle East conflict have so far had a limited impact on consumer prices, and offered a relatively optimistic assessment of inflation risks. Jonouchi said, "The overall Consumer Price Index (CPI) rose 1.7% year-on-year in June, indicating that the rate of price increases remains relatively moderate." He made these remarks in response to the Bank of Japans warning last week regarding the "increased risk of inflation exceeding expectations." However, Jonouchi added, "We do need to remain vigilant, as costs may gradually be passed on to food and other consumer goods prices from this summer to autumn."The China Earthquake Networks Center officially reported that a magnitude 3.4 earthquake occurred at 10:25 a.m. on August 4 in Gao County, Yibin City, Sichuan Province (28.53 degrees north latitude, 104.67 degrees east longitude), with a focal depth of 5 kilometers.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.3 occurred at 10:25 AM on August 4th near Gao County, Yibin City, Sichuan Province (28.53°N, 104.67°E). The final result is subject to the official rapid report.

Crypto Assets Shed $800 Billion in Market Value in A Month

Skylar Shaw

May 11, 2022 10:34

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According to statistics site CoinMarketCap, crypto assets have lost about $800 billion in market value in the last month, reaching a low of $1.4 trillion on Tuesday, as the end of free monetary policy dampens desire for risk assets.


Bitcoin, which accounts for roughly 40% of the cryptocurrency market, fell to a 10-month low on Tuesday before rebounding to $31,450, only six days after hitting $40,000. It was down more than 54% from its all-time high of $69,000 on November 10th.


Prices of digital assets have fallen, reflecting a drop in stocks on worries of aggressive interest rate rises throughout the world to combat decades-high inflation. The Nasdaq, which is heavily weighted in technology, was down 28% from its all-time high in November 2021.


According to CoinMarketCap, the total crypto market worth was $2.2 trillion on April 2, down from an all-time high of $2.9 trillion in early November.


"Bitcoin remains closely tied to larger economic circumstances, implying that the road ahead may regrettably be bumpy, at least for the time being," stated blockchain data firm Glassnode in a note.


Investors were also alarmed by signs of weakness in stablecoins, which are normally a safer crypto currency. TerraUSD, the fourth-largest stablecoin in the world, lost a third of its value on Tuesday after losing its dollar peg.


According to a study issued on Monday by digital asset management Coinshares, despite bitcoin's price drop, funds and products related to it saw inflows of $45 million last week as investors took advantage of market weakness.


"An enormous amount of liquidity has inflated some of these cryptocurrencies," said Nordea Asset Management's senior macro analyst, Sebastien Galy. As various central banks tighten their monetary policies, he expects crypto, which is also tied to high-growth equities, will face pressure.

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