In Depth: Will the Bear Market End the Blockchain Funding Frenzy?
Investors have been pumping money into crypto and blockchain companies at an unprecedented rate in 2022, but some say this trend will slow as the bear market diminishes their appetite for speculative investments.
Crypto and blockchain firms raised at least $26.4 billion across 992 transactions in the first five months of the year, triple the $8.8 billion recorded in the same period last year. last year, according to data from Dove Metrics, a crypto fundraising database.
The Bitcoin tumble sends Thailand’s tech stock from first to last in the world
New Oriental /
Analysis: New Oriental’s live stream is a success, but there are still obstacles to long-term success
Chinese tutoring giant New Oriental’s pivot to live e-commerce took off in the first half of June thanks to favorable social media attention, but the struggling company’s ability to sustain this success will depend on product selection and quality as well as supply chain management.
Once the largest private-sector education company in China, New Oriental Education and Technology Group Inc. has been struggling to transform itself since Beijing launched a draconian crackdown on private education last summer. profit that devastated the company’s operations.
Health code /
Local officials punished for abusing China’s health code system
Four officials and an executive of a big data firm in Zhengzhou have been punished, local graft breakers said on Wednesday, after they were found guilty of abusing a Covid control system to prevent people from withdrawing their money troubled local banks.
The decision to abuse the system was made by Feng Xianbin, deputy executive secretary of the political and legal commission of the Zhengzhou municipal party committee, and Zhang Linlin, an official with the city’s anti-epidemic authority, according to a official statement from the local administration. discipline inspection authority.
FINANCE & ECONOMY
Chinese financial regulators have cracked down on structured bond issuance.
Xiangtan Construction Investment banned from bond issues for two years
Chinese Interbank Bond Market Regulator punished another company for issuing debt securities in violation of rules and disrupting market order, the third such sanction in less than two years.
Xiangtan Construction Investment Ltd. Co. has been banned from borrowing money in the bond market for two years and ordered to conduct a full rectification of the issues exposed in its regulatory violations, the National Association said Tuesday. financial market institutional investors (NAFMII). statement. NAFMII is an interbank market self-regulatory body supported by China’s central bank.
Quick shots /
Hong Kong Monetary Authority buys local dollar at record pace as peg is tested
Opinion: A possible tariff dismantling will not change the American strategy to contain China
COMPANY & TECHNOLOGY
Evergrande has rattled China’s property sector and global bond markets since its liquidity crunch deepened late last year.
Evergrande says debt restructuring plan slated for end of July
Debt-ridden property developer China Evergrande Group reaffirmed that a preliminary debt restructuring plan can be expected on schedule by the end of July in the company’s latest effort to ease creditors’ concerns about its ability to pay off a mountain of debt.
Struggling with more than $300 billion in debt, Evergrande has rattled China’s real estate sector and global bond markets since its inception. liquidity crisis intensified at the end of last year when it missed payment on a $260 million bond guarantee, triggering cross-defaults on its offshore debts.
The Chinese developer accepts wheat, garlic for installments
Insider Trading /
Sacked chief of Chinese real estate firm claims conspiracy amid insider trading allegations
The former boss of a Chinese property developer defends himself against the charges of insider trading that led to his recent detention by police, claiming he is the target of a conspiracy.
Lu Junsi, former chairman of Gree Real Estate Co. Ltd. (GRE), said police in Shangrao, a city in east China’s Jiangxi Province, acted illegally during their investigation after reporting six people for insider trading, according to letters that have aired Sunday on the Internet.
Nearly 80% of Chinese logistics firms report lower profits in first five months, survey finds
Nearly 80% of Chinese logistics companies said their profits had gone down in the first five months, according to an industry survey, as weakening demand, rising costs and a cash crunch due to the effects of the Covid-19 pandemic continued to weigh on business .
Road freight volumes for more than 60% of those surveyed by the China Federation of Logistics and Purchasing fell 5% to 30% year-on-year between January and May, according to a report released by the industry group on Tuesday.
Quick shots /
Apple job offer indicates CarPlay push in China
TikTok wins the rights to broadcast the FIFA World Cup
Long read /
Chinese History Deals lessons on sustaining charitable giving
Chinese swimmers triumph in Budapest
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