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On August 30, the China Coast Guard conducted law enforcement patrols in the territorial waters and surrounding areas of Huangyan Island. Since August, the China Coast Guard has continuously strengthened law enforcement patrols in the territorial waters and surrounding areas of Huangyan Island, dealt with illegal and infringing vessels in accordance with laws and regulations, further strengthened the control of relevant sea areas, and resolutely safeguarded national territorial sovereignty and maritime rights and interests.On August 30, President Xi Jinping departed Beijing by special plane for Bishkek to attend the 2026 Shanghai Cooperation Organisation Summit and pay state visits to Kyrgyzstan and Egypt at the invitation of Kyrgyz President Sadyr Japarov and Egyptian President Abdel Fattah al-Sisi. Accompanying President Xi were his wife Peng Liyuan, Cai Qi (Member of the Standing Committee of the Political Bureau of the CPC Central Committee and Director of the General Office of the CPC Central Committee), and Wang Yi (Member of the Political Bureau of the CPC Central Committee and Minister of Foreign Affairs).U.S. National Hurricane Center: Lowell has strengthened slightly.On August 30th, economists predicted that the U.S. Bureau of Labor Statistics monthly jobs report, to be released Friday, would show a 55,000 increase in nonfarm payrolls in August, following an unexpected decline in July. If this is the case, the result would be roughly in line with the average monthly increase this year. The unemployment rate is expected to remain at 4.1%. Analyst Anna Wong stated that Warshs hawkish speech in Jackson Hole increased the likelihood of a September rate hike and changed market expectations regarding how to interpret next weeks data. The August nonfarm payroll report remains headline data, but the expected weak performance may not be as decisive as usual. Warsh described the labor market as healthy and pointed out that slowing job growth is often a demographic issue rather than a recession.August 30th - According to the Wall Street Journal, President Trump spent months touting his move to overthrow Venezuelas leader as bringing the countrys oil "under American control." However, when U.S. energy companies were unwilling to invest at the pace and scale he desired, his administration devised an extraordinary solution to realize his vision—the U.S. government becoming the investor itself. The oil deal with Venezuela announced Friday evening will transform the U.S. governments role from "middleman" in U.S.-funded oil investment in Venezuela to "investor" itself. The agreement will grant Washington a direct financial interest in a private company that will be granted a century-long right to exploit some of the worlds largest proven oil reserves. Led by the controversial Venezuelan businessman Alejandro Bertancott, the company will have the opportunity to develop 17 oil fields estimated to contain 65 billion barrels of crude oil, equivalent to one-fifth of the countrys reserves. According to sources involved in the negotiations, the U.S. plans to hold a 35% passive stake in Bertancotts North American Blue Energy Partnership and have the right of first refusal to purchase 20% of its production at cost.

Crypto Prices Slump Over the Weekend

Skylar Shaw

May 09, 2022 09:59

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The Bitcoin market dropped over the weekend, matching the stock market's decline.


According to CoinDesk pricing, the world's biggest cryptocurrency, bitcoin, plummeted to $34,656 on Sunday afternoon, down 3.9 percent from Friday evening. Bitcoin fell below $34,000 earlier this afternoon, about half of its all-time high of $67,802 set in November.


Ethereum, the second-largest cryptocurrency, was trading at about $2,565 on Sunday afternoon, down 5.1 percent from Friday at 5 p.m. EDT.


Bitcoin and other cryptocurrencies are notorious for their wild price volatility


For years, individual investors dominated the market, but institutional investors, such as hedge funds and money managers, have begun to take control.


The market has become more aligned with regular markets as more professional investors trade crypto. Many institutional investors that acquire cryptocurrencies see them as high-risk investments, akin to equities in the technology sector. During periods of market turmoil, investors prefer to flee to safer areas.


Last week, the stock market fell the day after the Federal Reserve issued a half-point rate hike, the largest since 2000, to combat inflation. Additional rate hikes are possible this summer, according to Fed Chairman Jerome Powell. 


Some of the central bank's $9 trillion asset portfolio is also being unwound.


The Nasdaq Composite, which is heavily weighted in technology, fell to a 52-week low of 12144.66 on Friday. It is down 22% so far this year.


For most of 2022, cryptocurrency prices remained flat as investors braced for higher interest rates. According to CoinMarketCap, the crypto market was busy over the weekend, with $112 billion in market volume in a 24-hour period. The total value of the cryptocurrency market is currently $1.59 trillion.