Emerging Economies Hit Hardest by Crypto Collapses: BIS Report
• The Bank for International Settlements (BIS) reported that investors outside of major economies were hit hardest by the collapse of Terra and FTX. • The crypto market lost more than $450 billion after Terra’s implosion in May 2022, and another $200 billion after FTX’s bankruptcy in November. • The BIS is owned by 63 central banks from around the world. Crypto Investors in Emerging Economies Hit Hardest The Bank for International Settlements (BIS) reported that crypto app users worldwide lost money on their bitcoin holdings after last year’s collapses of the Terra ecosystem and the FTX exchange, but it was investors outside of major economies who took the biggest hit. More than $450 billion vanished from the crypto market following the collapse of Terra in May 2022, and another $200 billion was lost following FTX’s bankruptcy in November. Background on BIS The BIS is owned by 63 central banks,…
Fed Governor: US Regulators Prefer Keeping Crypto Separate from Banks
• U.S. Federal Reserve Board Governor Christopher Waller has reinforced the preference of U.S. regulators to keep crypto apart from banks, noting that this separation has kept the U.S. financial system out of crypto’s drama and expressing optimism that the sector can work out its recent issues. • Waller is supportive of prudent innovation in the financial system and encourages parts of the crypto universe to thrive, but believes banks should be cautious when engaging with cryptocurrencies due to heightened risk of fraud and legal uncertainties. • He does anticipate that the digital assets industry will mature over time and work out its governance, risk management and transparency issues for a better understanding of customer business models and risks involved. U.S Regulator’s Preference for Keeping Crypto Apart from Banks U.S Federal Reserve Board Governor Christopher Waller has emphasized U.S regulator’s preference for keeping cryptocurrency apart from banks in order to…
Crypto Exchange Bittrex Cuts 80 Jobs Amid Market Downturn
• Bittrex, a Seattle-based cryptocurrency exchange, is laying off more than 80 people due to the “new economic environment.” • This comes after multiple failures in the crypto ecosystem and sharp declines in cryptocurrency prices. • Many other exchanges such as Gemini and Coinbase have also announced layoffs recently. Bittrex Laying Off More Than 80 People Bittrex, a Seattle-based cryptocurrency exchange, is reducing its staff by more than 80 people due to the “new economic environment,” according to CEO Richie Lai. He cited market downturns triggered by multiple failures in the crypto ecosystem as the primary reason for the cuts. Market Conditions The company had been working “aggressively” to reduce expenses and increase efficiencies but were not successful, according to an email sent out by CEO Lai. The layoffs affected at least some employees in most departments across Bittrex. This comes after sharp declines in cryptocurrency prices and the collapse…
Coinbase Fined $3.6M by Dutch Central Bank for Crypto Violations
• Coinbase recently received a $3.6 million fine from the Dutch Central Bank (DNB) for violations of Dutch crypto registration procedures. • The fine is in line with one imposed on Binance last year and is justified by the gravity and scale of the violation. • Coinbase argues it is being punished for cooperating with the regulations, but still has the option to appeal. Coinbase, one of the world’s leading cryptocurrency exchanges, recently received a hefty fine from the Dutch Central Bank (DNB) for “very serious” violations of Dutch crypto registration procedures. The DNB sanctioned Coinbase with a penalty of 3,325,000 euros ($3.6 million), which is in line with the fine imposed on rival crypto exchange Binance last year. The DNB argues that the size of the fine is justified by the gravity and scale of the violation. Coinbase, who is now registered with the DNB, argues that it is…
All You Need to Know About Selling Your iPhone
Are you planning to sell your iPhone? If yes, then you’ve come to the correct spot. The process of selling an iPhone is a fairly simple process, however there are a few points you need to know in advance to ensure that you get the most value for the device. This article will guide all the steps beginning with preparing your iPhone until the final sale. Preparing to Sell Your iPhone Before you begin selling there are some steps to be taken to prepare. In the first place, you’ll need to backup all the data stored on your phone. There are many ways to do this make sure to read your user’s manual or conduct an internet search to find the most effective method of backup to use on your iPhone. Once you’ve successfully backed up your data, it’s possible to reset your phone back to the factory settings. It…
Exploring the Wonders of Google Earth Satellite Live
Google Earth Satellite Live is an innovative and interactive application that lets users explore the globe in real-time. This advanced technology gives unmatched levels of detail and precision, making it an indispensable resource for those who travel, research and anyone looking to learn things about the globe that surrounds them. Through Google Earth Live, users can explore the world from their homes, and discover many interesting places as well as events and activities. In this post, we’ll examine the basics to Google Earth Live, how you can use it, and what it can offer. The Basics of Google Earth Live Google Earth Satellite Live is an interactive, user-friendly tool that lets users explore the world using their computers. The tool is powered by Google Maps, which provides street maps, satellite imagery aerial images as well as other features. Google Earth Live is a live streaming service. Google Earth Live users…
Thena Surges to $90M TVL in First Week, Yields of Up to 222.86% Available
• Thena, a liquidity layer and decentralized exchange (DEX) on the BNB Chain, has experienced a massive uptick in total value locked (TVL) to $90 million from $5 million since its launch last week. • The protocol offers yields of up to 9.93% for liquidity providers that stake stablecoins, while yields of 222.86% are available to those who stake the platform’s native token, THE. • The decentralized finance (DeFi) sector has benefitted from the recent recovery in major crypto assets like bitcoin and ethereum. The BNB Chain-based DeFi protocol Thena has achieved an impressive feat in its first week of launch, with its Total Value Locked (TVL) surging to $90 million. Launched on the 10th January 2021, Thena is a liquidity layer and decentralized exchange (DEX) that enables users to swap assets at low costs and with fast settlement times. Thena’s protocol offers attractive yields of up to 9.93% for…
117 Parties Express Interest in Buying FTX Subsidiaries
• Around 117 parties have expressed interest in buying units of FTX, according to a legal filing posted Sunday. • The crypto company is currently undergoing bankruptcy proceedings and is looking to expedite the sale of LedgerX, FTX Japan, FTX Europe and the stock-clearing platform Embed. • The deadline for initial bids is fast approaching. As the crypto industry continues to grow, so do the number of acquisitions and transactions. This was recently highlighted when a legal filing posted on Sunday revealed that around 117 parties have expressed interest in buying units of FTX. FTX is a crypto company that is currently in the midst of bankruptcy proceedings. In order to expedite the process, the estate has prioritized the sale of its subsidiaries, LedgerX, FTX Japan, FTX Europe and the stock-clearing platform Embed. The reason for this is that it is the quickest way to separate the business and mitigate…
5 Ideen, um die richtige Haarfarbe zu finden
Haare sind ein wesentlicher Bestandteil unserer Identität, aber die richtige Haarfarbe zu finden, kann eine Herausforderung sein! Ob Sie eine ganz neue Haarfarbe wählen möchten oder nur einige Highlights hinzufügen wollen, es ist wichtig, dass Sie die richtige Entscheidung treffen. Hier sind fünf Ideen für die richtige Haarfarbe, die Sie in Betracht ziehen sollten. 1. Wählen Sie eine Farbe, die zu Ihrem Hautton passt Wenn Sie sich für eine neue Haarfarbe entscheiden, ist es wichtig, dass Sie eine Farbe wählen, die zu Ihrem Hautton passt. Einige Farben wirken auf bestimmte Hauttöne besser als andere. Wenn Sie beispielsweise einen sehr hellen Hautton haben, können lebhafte Farben wie Blond oder Rot sehr gut aussehen. Wenn Sie einen dunkleren Hautton haben, können dunklere Farben wie Braun oder Schwarz Ihrem Look mehr Tiefe verleihen. 2. Wählen Sie eine Farbe, die zu Ihren Augen passt Eine weitere Möglichkeit, die richtige Haarfarbe zu wählen, ist, eine…
Ethereum’s Year of 2022: Major Milestones and Controversy
– Ethereum completed its radical shift to a new, vastly more energy-friendly system for powering its network in 2022. – This was marked with various issues such as concerns around censorship and record-shattering hacks on Ethereum-linked infrastructure. – The Merge, while reducing Ethereum’s energy consumption significantly, has led to charges of centralization and never spurred a long-hoped-for bump to the price of ether. Ethereum’s year of 2022 was one characterized by both major milestones and intense controversy. Having completed its radical transition to a more energy-efficient system, Ethereum had finally ticked off several boxes on its checklist toward creating a global computer and decentralized financial system. However, the year was not without its issues. The Merge, Ethereum’s massive upgrade to a more energy-efficient system for processing transactions, represented a major milestone for the blockchain. By switching to proof-of-stake from proof-of-work, the Merge marked a massive reduction to the network’s energy…