Sam Bankman-Fried ordered ‘special privileges’ for Alameda account on FTX — Gary Wang
Former Binance CEO Changpeng “CZ” Zhao will begin advising the Kyrgyz Republic on blockchain and crypto-related regulation and tech after signing a memorandum of understanding with the country’s foreign investment agency.
“I officially and unofficially advise a few governments on their crypto regulatory frameworks and blockchain solutions for gov efficiency, expanding blockchain to more than trading,” the crypto entrepreneur said in an April 3 X post, adding that he finds this work “extremely meaningful.”
His comments came in response to an earlier X post from Kyrgyzstan President Sadyr Zhaparov announcing that Kyrgyzstan’s National Investment Agency (NIA) had signed a memorandum with CZ to provide technical expertise and consulting services for the Central Asian country.
The NIA is responsible for promoting foreign investments and assisting international companies in identifying business opportunities within the country.
Source: Changpeng Zhao
“This cooperation marks an important step towards strengthening technological infrastructure, implementing innovative solutions, and preparing highly qualified specialists in blockchain technologies, virtual asset management, and cybersecurity,” Zhaparov said.
The Kyrgyzstan president added: “such initiatives are crucial for the sustainable growth of the economy and the security of virtual assets, ultimately generating new opportunities for businesses and society as a whole.”
Kyrgyzstan, which officially changed its name from the Republic of Kyrgyzstan to the Kyrgyz Republic in 1993, is a mountainous, land-locked country.
It is considered well-suited for crypto mining operations due to its abundant renewable energy resources, much of which is underutilized.
Over 30% of Kyrgyzstan’s total energy supply comes from hydroelectric power plants, but only 10% of the country’s potential hydropower has been developed, according to a report by the International Energy Agency.
CZ has met with several other state officials in Asia
Malaysia also recently tapped CZ for guidance on crypto-related matters, with Prime Minister Anwar Ibrahim meeting him personally in January.
CZ has also met with officials in the UAE and Bitcoin-stacking country Bhutan — however, it isn’t clear what those meetings entailed.
Related: Is Bitcoin’s future in circular economies or national reserves?
CZ’s latest pursuits come a little over six months after he was released from a four-month prison sentence in the US for violating several anti-money laundering laws.
Since being released, CZ has made investments in blockchain tech, artificial intelligence and biotechnology companies.
CZ also recently donated 1,000 BNB (BNB) — worth almost $600,000 — to support earthquake relief efforts in Thailand and Myanmar after the natural disaster in late April.
Magazine: Financial nihilism in crypto is over — It’s time to dream big again
Donald Trump has acted for his country and I will act in Britain’s interests, Sir Keir Starmer has said after the US president imposed 10% tariffs on UK goods.
The prime minister told business chiefs at an early morning meeting in Downing Street: “Last night the president of the United States acted for his country, and that is his mandate.
“Today, I will act in Britain’s interests with mine.”
Politics latest: Starmer says UK will react to tariffs with ‘cool and calm head’
Mr Trump announced sweeping tariffs on countries around the world, with the UK getting off relatively lightly with 10% tariffs – branded “kind reciprocal” by the president – compared with China, which will have to pay 54% tariffs and 20% for the EU.
A previously announced 25% tariff on British car imports to the US came into effect at 5am on Thursday.
Sir Keir said the government is moving “to the next stage of our plan” after negotiations failed to fend off any tariffs ahead of Wednesday’s announcement.
He promised any decisions “will be guided only by our national interest, in the interests of our economy, in the interests of businesses around this table, in the interests of putting money in the pockets of working people”.
Sir Keir Starmer hosted business leaders in Downing Street on Thursday morning. Pic: Simon Dawson/No 10 Downing Street
“Clearly, there will be an economic impact from the decisions the US has taken, both here and globally,” he told the business leaders.
“But I want to be crystal clear: we are prepared, indeed one of the great strengths of this nation is our ability to keep a cool head.”
Business Secretary Jonathan Reynolds told the Commons on Thursday the government is considering retaliatory measures and requested British businesses let him know what the tariff implications will be for them.
An “indicative list of potential products” that could be targeted was later published, with 8,364 categories covering about 27% of UK imports from the US.
Earlier, Mr Reynolds told Wilfred Frost on Sky News Breakfast his “job is not done” when it comes to negotiating a trade deal
Mr Reynolds refused to say if the tariffs might cause a global recession and said the UK has safeguards in place to ensure it is not flooded with goods that would have gone to other countries.
“We’ll take any powers we need to protect the British people and the British economy from that,” he said.
“What we have directly within our power, alongside that is, of course, the ability to negotiate a better deal in the national interest for the UK. That’s been our approach to date and we’ll continue with that.”
Read more:
World reacts to Trump’s tariff announcement
Tariffs will have consequences for globalisation, the US economy and geopolitics
Trump’s tariffs explained
Please use Chrome browser for a more accessible video player
Moment Trump unveils tariffs chart
UK will be template for other nations’ deals
The business secretary also suggested if the UK is successful in negotiating a deal with the US “there’ll be a template there” for other countries to “resolve some of these issues”.
He reiterated statements he and the PM have made over the past few days as he said: “America is a friend, America’s our principal ally.
“Our relationship is an incredibly strong economic one, but also a security one, a political one as well.”
Please use Chrome browser for a more accessible video player
Sky’s Ed Conway examines how economies across the world are impacted by tariffs
Government ‘very slow’ to start talks
Conservative shadow home secretary Chris Philp told Sky News the government had been “very slow” to start negotiating a free trade agreement with the US, and they should have started when Mr Trump was elected in November, even though he did not get sworn in until the end of January.
He said the UK being hit by a lower tariff than the EU was “one of the benefits of Brexit”.
However, he said the 25% tariff on car exports to the US is “very, very serious” and the global impact is “bad news for our economy”.
The list has landed.
More than 400 pages of thousands of goods that could be affected by reciprocal tariffs against the US.
Everything from fresh domestic ducks to sea-going dredgers makes the cut; most symbolic, however, are iconic American items like jeans, motorcycles and whiskey.
Would Donald Trump stand for a levy on Levi’s? It’s not the first time this battle has played out.
When the US president announced tariffs on steel and aluminium in his first term, the EU responded with its own – including a symbolic 25% tax on American whiskey.
At the time, the UK, then an EU member, followed suit.
But as the UK tries to carve its own path outside the bloc, vindicated by the baseline 10% tariffs imposed instead of the EU’s rate of 20%, the aim is to avoid retaliation.
The government want us to know “all options are on the table” – but that is not how they want this to play out.
“This is not a short-term tactical exercise,” the prime minister said this morning.
Despite the business secretary’s best efforts during his recent trip to Washington to try to secure a UK tariffs carveout, no deal was reached in time.
Please use Chrome browser for a more accessible video player
How will tariffs hit working people?
Mr Trump wanted his big bang, board brandishing moment; carveouts for certain countries would have softened the impact of his speech.
But with 90-plus countries on the tariff billboard, how far along the queue is any UK deal?
And how much are we willing to give? Will the sensitive subject of chlorinated chicken be on the table? What of the agreement to cut taxes on big tech companies that Mr Trump wants?
Lots of questions. The day after the surreal night before is too soon to know all the answers, but this is about politics as much as it is about economics.
Read more:
There were no winners from Trump’s tariff gameshow
Do Trump’s numbers on tariffs really add up?
As the prime minister launched Labour’s local election campaign in Derbyshire today, he talked about potholes, high streets and school meals. Every question I heard was about tariffs.
Decisions made across the Atlantic are looming large. Tariffs may not directly sway many votes in the local elections, but the consequences for Rachel Reeves’s fiscal headroom and the amount of money she has to spend, or save, will have an impact before too long.
-
Sports2 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports12 months agoStory injured on diving stop, exits Red Sox game
-
Sports1 year agoGame 1 of WS least-watched in recorded history
-
Sports2 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports4 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment2 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment2 years agoGame-changing Lectric XPedition launched as affordable electric cargo bike
-
Business3 years agoBank of England’s extraordinary response to government policy is almost unthinkable | Ed Conway