On December 12, there were reports that U.S. federal prosecutors could move aggressively against Binance and file criminal charges against several individual executives, including Zhao. Since the 2018 investigation of anti-money laundering laws, Binance had been used for illicit funds transferring as seen as suspected criminal sanctions violations and the evidence was gathered. The crypto markets have been shaken among investors since last month’s rapidly collapsed month of FTX. Binance was cemented regarding bankruptcy, accordingly.           Justice Department regulations say that money laundering charges against a financial institution must be approved by the MLARS chief. Leaders from the other two offices, along with higher-level DOJ officials, would likely also have to sign off on any action against Binance. The charges under investigation are unlicensed money transmission, money laundering conspiracy, and criminal sanctions violations. No final charging decisions have been made, though prosecutors consider Zhao and some other executives to be subjects of the investigation, one source familiar with the situation said.           Binance said in September it

          A report from Marcel Thieliant (senior Japan economist at Capital Economics) stated that the Japanese economy will get into a recession the following year which is driven by a shrinking in exports of which the trade deficit in October dropped more than expected at $15 billion. Comparing the year-on-year record, even though, the export hiked to 25.3% yet  but slower than year-on-year when the import was a hike to 45% Moreover, before Japan released a report on the third quarter of GDP on 8th Thursday, December 2022, Japanese analysts forecasted that GDP would decline to 1.1% for July to September period, after formerly a report that GDP had sunk to 1.2%. However, on 8th December 2022, the report of the third quarter GDP was released, the report mentioned that GDP sank to only 0.8% when which is better than when compared with the forecast’s analysts. Therefore, the Japanese government adjusted increasingly the number of the third quarter GDP, as the determinant is the economy recovered from COVID-19.           Furthermore, analysts predicted

          Thai Interest rates have been raised by 0.25% with a unanimous decision of The Bank of Thailand’s Monetary Policy Committee. This 0.25% raised interest rate was validated immediately straight after the meeting summarized on 30 November 2022. This adjustment caused continued increasing interest rates from 1.00% to 1.25% per year which aimed to decline inflation and the steady increase in growth projection rate.           The economic growth rate expectation is projected to reach 3.2% this year, 3.7% next year, and 3.9% in 2024. From the conclusion of the meeting, the committee agreed that the tourism sector is recovering, as obvious by the number of tourist arrivals as well as increasing consumer consumption owing to increased employment and income, even though exports have declined.           Moreover, The Thai Baht seems to be more depreciated against the USD referring to the FED had been hiking the interest rates, and there tend to be more strongly increased than the market expectation. However, the committee will keep an eye on the

          On 28 November 2022, BlockFi successfully filed for bankruptcy in the US, as the dramatic collapse of FTX continues in the crypto industry to be shaken. Since BlockFi has been a cryptocurrency-leading platform, it previously announced the suspending of customer withdrawals since the business had been severely influenced by the bankruptcy of the FTX on 11 November 2022.         In a court filing of the Chapter 11 bankruptcy, New Jersey-based BlockFi stated that there are more than 100,000 creditors with total assets and liabilities between $1 billion and $10 billion. It listed crypto exchange FTX as its second-largest creditor, with $275m owed on a loan issued earlier this year. Regarding chapter 11, BlockFi has had $256.9m in cash on hand which would be allowed the firm to develop a “reorganization plan that maximizes value for all stakeholders, including our valued clients”.           According to its Chapter 11 plans, BlockFi Wallet customers would be paid back in full and other account holders and creditors would receive a mixture of

          On 23 November 2022, a Bloomberg reporter mentioned that the FED staff economists were recommending to policymakers that the chance of a US recession in the following year had risen to 50%, as drop-down consumer spending, more world economic risks, and hike of interest rates. The discussion from the conference mentioned the negative factors which are affecting the US economy as follows; decelerating real private domestic spending, sinking global outlook, and intensity in financial conditions. Nonetheless, when compared with Bloombergs’ economists forecasted this month the chance of a US recession in the following year is 65%, based on the median estimate which puts the probability at 100%.           Moreover, the FOMC still voted to raise interest rates by 0.75% for the fourth time in a row to slow inflation. However, the FED showed a signal that it will slow down to tighten financial policy soon. Published 30/11/2022 By Windy K.

         On 16 November 2022, missiles crossed into Poland, killing two Polish citizens and setting off a chain of reactions across the globe. Poland said the missile was Russian-made, calling on the Russian ambassador for an explanation. The explosion, near the Ukraine border, came as Russia launched a massive wave of missiles at Ukrainian cities and energy facilities just before dusk.        While Russia’s Foreign Ministry said on Sunday that the G-20 summit should focus on global economic challenges rather than security issues, after NATO claimed that the deadly missile hit near a Polish village wasn’t a Russian attack, the Polish died. Moreover, If Russia had intentionally targeted Poland, that could have risked drawing NATO into the conflict. Still, Stoltenberg, NATO Secretary-General Jens, and others laid overall but not specific blame on Russian President Vladimir Putin’s war.           Notwithstanding, The euro was last up 0.06% at $1.0331 after falling as much as 0.44%. The euro had earlier risen as much as 1.5% against the greenback following economic data. Currently, The euro

          On 2 November 2022, The official Vietnam News Agency reported that some gas stations in Vietnam’s two biggest cities and adjoining districts have temporarily closed related that distributors have been unable to stand their rising costs due to the set gasoline prices by the Vietnamese government, according to industry sources. While the smaller distributors have been intensively affected, discouraging them from supplying owing to the shrunken profit. In addition, gas stations are temporarily closing because of the lack of refineries in the southern part of Vietnam, where Ho Chi Minh City is located and which is about 45% of the country’s demand for oil and petrochemical products.           According to the government-set prices, The commanded prices for oil products resulted in losses as the distributors still had to pay high prices on the international market. Currently, the companies are unable to maintain sufficient stocks. Minister Dien on Friday blamed fluctuations in the foreign exchange rate and difficulties faced by some fuel importers accessing credit from banks for the situation. But he

          On 2 November 2022, FED stepped up its fight against a 40-year high in US inflation by announcing a 0.75 percent point raising the interest rate. The moves aimed at inflation may soon slow down with the cost of living crisis suffering consumers. Powell was speaking after the Federal Open Market Committee voted unanimously to increase the federal funds rate to a target range of 3.75% to 4% as it’s the highest level since 2005.           The impact of raising interest rates takes time to be adjusted through to the wider economy. Meantime, the US real estate market appears to be slowing down but the employment rate remains powerful. However, When the Fed raises interest rates it becomes more expensive for banks to borrow money from one another. Banks pass on these higher rates to consumers by making it more expensive for them to get a mortgage, or a loan, pay off credit card debt, and more.           In addition, The Fed’s predictions show a possible hike