Day: 13 December 2022

A country's overall economic activity is stagnant during a recession, which is a macroeconomic situation. All trading activities slow down during this period due to hyperinflation and other factors, causing GDP to fall sharply. Blackrock, the world's largest asset management company, has warned of the risk of a recession caused ...

The newly-appointed CEO of the bankrupt FTX exchange, John J. Ray III, has revealed some damning facts about the company's former management in his prepared testimony for a Financial Services Committee hearing on Tuesday.  In his statement, Ray said that "the exchange's failure was due to the concentration of control ...

Polygon, Ethereum's scaling solution, has announced a strategic partnership with Earn Alliance, a Web3 gaming community, to increase the adoption of blockchain gaming. The goal is to onboard 100 million gamers into Web3.   Earn Alliance is a Web3 gaming community developed to shape the next generation of games using blockchain ...

Reacting to the collapse of FTX, the third-largest cryptocurrency exchange in the world, the crypto market took a downturn, with the majority of the tokens trading in the red. Stablecoins were not left out in the bloodbath; most stablecoins failed to maintain the 1:1 dollar peg, falling by 0.2% to ...

SushiSwap CEO Jared Grey revealed on Twitter that the decentralized exchange (DEX) lost $30 million on incentives for liquidity providers, or LPs, over the course of the previous year. SushiSwap currently uses a token-based emission approach to reward LPs, as revealed by Grey, but the current pace is unsustainable. Grey ...

Authorities in the Bahamas have arrested Sam Bankman-Fried, the former CEO of the failed crypto exchange FTX, at the request of the United States government.  According to a statement from the Bahamas Attorney General's office, the former CEO of FTX was apprehended by the Royal Bahamas Police Force.  SBF's arrest ...

Organizations seeking to establish a presence in emerging technologies such as blockchain are not discouraged by the bearish crypto market and recent industry developments.  The Bermuda-based Jewel Bank announced the launch of its stablecoin, Jewel USD (JUSD), on Monday, December 12. According to the announcement, the bank has the resources ...