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first_img CoolCash's parent company had its payment license revoked and has initiated liquidation

The payment service provider license of CoolCash (Xiao Yi Payment), the parent company of Tianxu International Technology Co., Ltd., has been revoked by the National Bank of Cambodia and has entered liquidation proceedings. The company and its director, Pang Weizhi, were included in the UK government's sanctions list in March this year due to alleged ties with the Prince Group.The National Bank of Cambodia announced on the 10th that it revoked the payment service provider license of Tianxu International Technology on August 3. This license was issued on May 27, 2024, and was originally valid until 2030. The bank also appointed Morrison Kak MKA Audit Accounting Firm as the liquidator in accordance with Article 68 of the Law on Banking and Financial Institutions to handle liquidation matters and return relevant funds to the company's clients in accordance with the legal priority order.UK sanction documents indicate that Pang Weizhi holds Cambodian and Chinese nationality, with the Cambodian name Pang Visal, and serves as a director of Tianxu International Technology and the parent company of Elephant Delivery, U-Life KH Super App Company Limited. The UK side claims to have reasonable grounds to suspect his ties with the Prince Group and that he has provided financial services or funds, economic resources, goods, or technology to the group. The UK side alleges that the Prince Group is involved in operating scam centers in Cambodia, which include forced labor and serious human rights violations. Tianxu International Technology and Pang Weizhi have been listed as targets of sanctions in both corporate and personal capacities.

This week's macro outlook: The Federal Reserve will announce its interest rate decision on Thursday, and the CLARITY Act faces a crucial vote

This week, global markets enter a central bank super week. The Federal Reserve's FOMC will announce its interest rate decision and economic projections summary at 2 AM Beijing time on Thursday, followed by a monetary policy press conference by Chairman Powell; the Bank of England and the Bank of Japan will also announce their decisions on Thursday and Friday, respectively. Meanwhile, the U.S. Senate will hold a key procedural vote on the CLARITY Act on Tuesday local time, and the SEC will hold a roundtable discussion on 24-hour trading on the same day.Tuesday: Key procedural vote on the Cryptocurrency Market Structure Act (i.e., CLARITY Act); U.S. ADP employment change for the week ending August 29; U.S. September New York Fed Manufacturing Index. Wednesday: U.S. API crude oil inventories for the week ending September 11; U.S. August retail sales month-on-month, U.S. August import price index month-on-month, U.S. September NAHB housing market index; U.S. July business inventories month-on-month, U.S. EIA crude oil inventories for the week ending September 11.Thursday: Federal Reserve FOMC announces interest rate decision (2 AM Beijing time on Thursday) and economic projections summary, Federal Reserve Chairman holds a monetary policy press conference; U.S. initial jobless claims for the week ending September 12; Bank of England announces interest rate decision and meeting minutes; SEC holds a roundtable discussion on 24-hour trading. Friday: Bank of Japan announces interest rate decision, Bank of Japan Governor Kazuo Ueda holds a monetary policy press conference.

Bonk Guy: The Fomo project will complete integration on Arc within a few days

Bonk Guy (Unipcs) posted that Fomo is expected to complete integration within a few days after the launch of the Arc chain, which changes its short-term judgment on Arc. He stated that builders related to Arc have recently contacted early on-chain traders multiple times, indicating their desire to generate early traffic for the new chain through Meme coin activities.Bonk Guy believes that the main opportunities on-chain this cycle are still concentrated in Robinhood, BNB, and Solana, and does not think Arc will become the next mainstream chain. However, he pointed out that Fomo has not yet integrated Hyperliquid, Tron, or TON, all of which have seen Meme assets with market capitalizations exceeding 100 million dollars. Therefore, if Arc connects with Fomo early after its launch, it could bring short-term trading opportunities. He revealed that he has purchased the native token LONG of the main launch platform Long, as well as the top three Meme coins on that platform.His core judgments include: Fomo will integrate Arc, Arc is actively attracting early on-chain traders, and Arc may learn from Robinhood's path of launching ecological growth through Meme activities. Bonk Guy also emphasized that the layout related to Arc is a short-term high-risk experiment and reminded to currently avoid using trading bots like Basedbot and GMGN to prevent significant slippage due to routing to incorrect liquidity pools.
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