Nasdaq-listed company SunCar plans to spend $10 million to purchase cryptocurrencies.
ChainCatcher reported that Nasdaq-listed company SunCar announced its board of directors has authorized the allocation of $10 million to purchase certain mainstream cryptocurrencies, which are expected to benefit from the rapid growth of risk-weighted asset (RWA) tokenization. From a strategic perspective, SunCar believes that blockchain integration and RWA tokenization represent a natural evolution of its AI-based cloud technology in the fields of digital auto insurance and automotive services.
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Saudi Arabia's oil production in October surged by 26%, reaching the highest level since the onset of the conflict, while Brent crude has dropped over 20% this month
OPEC's monthly report shows that Saudi Arabia's average daily crude oil production in October rose to 10.56 million barrels, just several hundred thousand barrels lower than the pre-war level in February and slightly above its quoted limit under the OPEC framework. Iraq's daily output in October also reached approximately 4.9 million barrels, a new high since the outbreak of war. Meanwhile, after the UAE exited OPEC and began competing in the market independently, both the UAE and Saudi Arabia recently slashed their official December cargo prices for Asian buyers, intensifying the competitive landscape.
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