China Finance Inc
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Company profile

China Finance, Inc., through its wholly owned subsidiary, Shenzhen Hua Yin Guaranty and Investment Limited Liability Corporation (SHY), is engaged in providing surety guarantees for privately owned small and medium enterprises (SMEs) (or operating companies) in the People’s Republic of China entering into transactions, whereby the SME will be acquired by a publicly traded United States reporting company in a reverse merger or other merger and acquisition transaction; providing loan guarantees to assist SMEs and individuals in China in obtaining loans from Chinese banks for business operations and/or personal use, and making direct loans to SMEs for business operations. In addition, the Company is seeking direct investments (including, without limitation, controlling investments) in SMEs that would be made through the Company’s wholly owned subsidiary, Value Global International Limited.

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Crypto stocks and funds close sharply lower, as bitcoin plunges briefly to a 2-year low

4:22 pm ET November 8, 2022 (MarketWatch)

By Frances Yue

Crypto company shares and funds closed sharply lower on Tuesday as bitcoin dropped briefly to a two-year low, even though the three major U.S. equity indexes ended higher.

Bitcoin tumbled to as low as $17,484 Tuesday, the lowest level since Nov. 2020, after Binance, the world's largest crypto exchange, said it had signed a letter of intent to acquire the non-U.S. assets of rival FTX, which faces a "significant liquidity crunch."

Read:Bitcoin falls to two-year low after crypto exchange Binance proposed to buy rival FTX

Bitcoin lost over 12% to around $18,374 over the past 24 hours, according to CoinDesk data. Ether fell 17.6% over the past 24 hours. The 50 largest cryptocurrencies, except some dollar-pegged stablecoins, are all in red Tuesday.

Shares in Crypto exchange Coinbase(COIN)closed down 10.6% at around $50.92, according to Dow Jones Market data. MicroStrategy (MSTR) finished 21% lower at around $211.8.

Mining company Riot Blockchain (RIOT) shares went down 7.4% to around $5.30, and Marathon Digital Holdings (MARA) shares lost 5.2% to $9.96. Another miner, Ebang International Holdings Inc.(EBON) shares dropped 1.4% to around $0.31.

Among crypto funds, ProShares's Bitcoin Strategy ETF (BITO) plummeted 13.2% to $11.15, while its Short Bitcoin Strategy ETF (BITI) rallied 13.2% to $40.06. Valkyrie Bitcoin Strategy ETF (BTF) tanked 13.5% to $6.94, and Grayscale Bitcoin Trust (GBTC) dived 12.5% to $10.55.

-Frances Yue


(END) Dow Jones Newswires

November 08, 2022 16:22 ET (21:22 GMT)

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