If not in seconds, the $16 billion wealth of former FTX co-founder Sam Bankman-Fried was gone in hours. FTX, the second largest crypto exchange in the world, has gone bankrupt. More than 10 lakh crypto investors cannot withdraw their money now. This bust triggered another round of selling on other exchanges. Bitcoin has fallen another 12% in the past five days, after losing more than 70% last year. So is this the beginning of the end for Crypto?
Finance Minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen discussed cryptocurrency regulation when they met last week in Delhi. Meanwhile, wait times for U.S. visas are expected to ease by mid-2023, a senior U.S. embassy official said recently. This is cold comfort for many Indians who face a waiting period of up to 900 days for appointments. So what was the impact of the particularly long queue for US visas?
Turning to the markets, corporate stocks under the digital theme succumbed to turmoil in the global tech industry as recession fears continue to mount. So what do the experts recommend in this context?
The government, meanwhile, last week approved the sovereign green bond framework. It should hit the market soon. India is making steady progress towards achieving its ambitious green goal. The same goes for most of the world. But a few companies and even nations pose a threat to the world’s march toward a green future. They do not reduce emissions, but corners. This practice is called “greenwashing”. Let us know more about it in this episode of the podcast.