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On March 25, law enforcement agencies from China and the Philippines recently cooperated to repatriate Zheng, suspected of organizing others to illegally cross the border. An investigation revealed that Zheng, for personal gain, organized citizens of the Philippines and other countries to illegally enter China to provide domestic services through smuggling and visa fraud, leading to problems such as illegal residence and employment, seriously endangering social order. The embassy reminds intermediary agencies and individuals to regulate their professional and employment practices and not to embark on a path of illegality and crime in pursuit of profit.U.S. Department of Defense: Lockheed Martin will place the delivery of Presys strike missiles under wartime conditions.The MBA 30-year fixed mortgage rate in the U.S. for the week ending March 20 was 6.43%, unchanged from the previous week.On March 25th, the first Joint Meeting of Financial Regulatory Authorities of Guangdong, Hong Kong, Macao, and Shenzhen was held in Nansha, Guangzhou, from March 23rd to 24th. The meeting was hosted by the Guangdong Provincial Financial Regulatory Bureau, with representatives from the Hong Kong Monetary Authority, the Hong Kong Insurance Authority, the Monetary Authority of Macao, and the Shenzhen Financial Regulatory Bureau in attendance. Representatives from relevant departments of the State Monetary Regulatory Commission, as well as local governments of Guangdong Province and Guangzhou City, were also invited to participate. During the meeting, participants engaged in in-depth exchanges on industry development, regulatory work, and the latest market developments. Other key topics included the banking sectors support for the construction of the Greater Bay Area International Science and Technology Innovation Center, the regulation of the safe development and application of artificial intelligence; the insurance industrys role in high-quality urban governance development, the facilitation of insurance services in cross-border medical scenarios, and consumer protection. The meeting aimed to deepen financial regulatory cooperation among Guangdong, Hong Kong, Macao, and Shenzhen, build consensus, actively promote the high-quality development of the banking and insurance industries, and jointly advance the sound development of the financial market and consumer protection.On March 25th, Pinduoduo Group officially announced the formation of "New Pinmu," launching its own brand operation and continuing its heavy investment in the Chinese supply chain. Zhao Jiazhen, Co-Chairman and Co-CEO of Pinduoduo Group, announced the groups next-stage strategy, proposing to "strive to recreate another Pinduoduo in three years." According to reports, "New Pinmu" has established a new dedicated company in Shanghai, with an initial cash injection of 15 billion yuan. Over the next three years, it plans to invest a total of 100 billion yuan to integrate the supply chain resources of "Pinduoduo + Temu," launching a self-operated brand model with a focus on the global market.

Crypto derivatives volumes surge to $3.12 trillion in July

Skylar Shaw

Aug 12, 2022 14:53

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According to researcher CryptoCompare, trade in cryptocurrency derivatives on centralized exchanges increased to $3.12 trillion in July, up 13% month over month, as cryptocurrency values begin to rebound from the recent market crisis.


According to CryptoCompare, the derivatives market now accounts for 69% of all crypto transactions, up from 66% in June, and helped drive total crypto volumes on exchanges to $4.51 trillion in July.


On July 29, derivatives exchanges transacted up to $245 billion, which is 9.7% greater than the $223 billion top daily high for June.


Spot cryptocurrency trade, however, dipped to $1.39 trillion in July, the lowest level since December 2020 and a monthly fall of 1.3%, according to CryptoCompare.


In May and June, the price of cryptocurrencies fell precipitously as investors fled riskier investments due to concerns about soaring inflation and Federal Reserve interest rate rises. Several cryptocurrency organizations have slashed staff after a significant pair of tokens collapsed, and other cryptocurrency lenders have frozen client withdrawals.


With bitcoin rising 17% in July, prices have somewhat recovered. It is still a long way from its record high of $69,000 in November, which it reached at roughly $24,300.


Since there is no U.S. Federal Reserve meeting in August, CryptoCompare said, "the jump in futures trading volume signals an increase in speculative activity as traders feel there is opportunity for more upside in current rally."


According to CryptoCompare, traders are also making predictions on the impending Ethereum merge, which is a network update anticipated for September.


Since its $880 low in June, ether has increased to over $1,900.


According to CryptoCompare, BinanceUSD, a stablecoin released by the cryptocurrency exchange Binance, gained popularity in July as spot volumes for transactions between bitcoin and BinanceUSD for the first time surpassed those between bitcoin and dollars.


With a 54% market share, Binance continued to dominate the exchange landscape, while Atom Asset Exchange (AAX), which saw its volume increase by 26.5% in July, moved into second place.


Trading volumes more than half in the second quarter of 2022, according to a data released on Tuesday by American exchange Coinbase.

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