Tuesday☕️

Jun 13, 2023 • 4 min read

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Markets/Economies:

China's first tokenized security on Ethereum:

Chinese bank, BOCI, in partnership with UBS, has successfully issued China's first tokenized security on the Ethereum blockchain. These tokenized securities are a part of CNH 200 million worth of fully digital structured notes that BOCI has distributed to its clients.
This development marks China's significant leap into the digital asset industry. The UBS collaboration, led to the issuance of 50 million tokenized fixed-rate notes in 2022, which was a precursor to this development.
The release of these digital securities has established a new legal and blockchain standard, as this is the first product of its kind under Hong Kong and Swiss law. BOCI Deputy CEO, Ying Wang, expressed optimism about the digital transformation of Hong Kong's financial industry.

J.P. Morgan Epstein Victim Settlement:

J.P. Morgan Chase has agreed to a $290 million settlement to resolve claims from victims of Jeffrey Epstein. The case, approved as a class-action lawsuit in the U.S. District Court in Manhattan, alleged that the bank had knowingly benefited from Epstein's illicit activities.
Despite the settlement, JPMorgan Chase has not admitted to any liability. The agreement follows a similar settlement reached by Deutsche Bank last month, which paid out $75 million to Epstein's victims. Epstein became a client of Deutsche Bank after his relationship with JPMorgan ended.
However, JPMorgan's legal entanglements relating to Epstein are not completely resolved. Litigation with the U.S. Virgin Islands, where Epstein owned a private island, is ongoing. Moreover, the bank's claims against former executive Jes Staley, a known associate of Epstein, are still active.
Meanwhile, the U.S. Virgin Islands is committed to pursuing full accountability for any violations of the law, aiming to prevent any future instances of the bank potentially aiding and profiting from illicit activities.

SpaceX Launch:

Yesterday, SpaceX successfully carried out two separate Falcon 9 rocket launches. The first launch took place at 3:10 a.m. ET from Cape Canaveral Space Force Station, Florida, deploying 52 Starlink satellites into low-Earth orbit. This marked the booster's ninth launch and landing, having been used in five previous Starlink missions and others.
The second launch happened at 2:35 p.m. PT from Vandenberg Space Force Base in California. It was part of SpaceX’s Transporter-8 mission, a dedicated service for launching small satellites.
This marked the ninth launch and landing for its Falcon 9 booster. The payload included 72 various types of spacecraft, including CubeSats, MicroSats, a re-entry capsule, and orbital transfer vehicles.

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