• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Apple futures contracts fell 2.00% intraday, currently trading at 6079.00 yuan/ton.Bank of England Governor Bailey will participate in a fireside chat in ten minutes.The New Taiwan dollar fell to 32.468 against the US dollar, its lowest level since early August.On October 16th, the Hong Kong Low-Altitude Economy Development Working Group, in collaboration with industry stakeholders, explored the establishment of a demonstration zone for exporting low-altitude economy products. This initiative aims to provide one-stop supporting services for low-altitude economy import and export trade, further supporting the overseas expansion of Chinas low-altitude economy enterprises. Furthermore, China ranks among the worlds leaders in low-altitude economy development, particularly in drone manufacturing, the complete industrial chain, and application scenarios. Given the current lack of international consensus on unified low-altitude technology standards, Hong Kong, as an international aviation hub and international innovation and technology center, possesses superior conditions to establish a low-altitude economy standard framework that aligns with international standards and connects with mainland China. To this end, the Hong Kong SAR Government has been validating various low-altitude economy technologies through the Low-Altitude Economy Regulatory Sandbox and "Regulatory Sandbox X" to improve local low-altitude economy standards. The Hong Kong SAR Government actively promotes enhanced cooperation with the mainland (especially the Guangdong-Hong Kong-Macao Greater Bay Area) and overseas jurisdictions, supporting the alignment of local low-altitude standards with those of the mainland and international standards.October 16th - Hong Kongs first five-year plan proposes to build a low-altitude innovation application hub in the Asia-Pacific region. The Hong Kong Low-Altitude Economy Development Working Group is working diligently to formulate the "Action Plan for the Development of the Low-Altitude Economy," improving the regulatory framework, standards development, and infrastructure construction. It is understood that related actions include close cooperation with the Mainland to expedite cross-border low-altitude logistics test flights and gradually expand the low-altitude cross-border logistics network in the Greater Bay Area; promoting research on low-altitude infrastructure technologies; and developing a smart low-altitude traffic management system. Currently, the Hong Kong SAR Government has commenced drafting work and will continue to solicit opinions, with the draft expected to be completed this year.

Coinbase CFO says full contagion impact of FTX collapse still to show

Skylar Shaw

Nov 17, 2022 16:16

微信截图_20221117105749.png


According to Alesia Haas, chief financial officer of Coinbase Global Inc., the true impact of Sam Bankman-failure Fried's FTX's on the cryptocurrency sector has yet to be revealed.


In an interview with the WSJ, Haas said, "What we are witnessing now is a fallout of FTX that is becoming much more like the 2008 financial catastrophe because it is revealing weak credit practices and is exposing poor risk management."


The complete impact of the incident won't be clear for a few days or weeks, Haas stressed.


In the highest-profile crypto meltdown to date, FTX filed for bankruptcy protection in the US on Friday after traders withdrew billions from the platform in just three days and rival exchange Binance abandoned a rescue plan.


After FTX warned of a "serious liquidity issue," the drop has increased concerns about the viability of the cryptocurrency industry. Since that time, authorities have started looking into the business, and lawmakers have demanded more precise regulations.


According to Haas, there will be a push for regulation both domestically and internationally.


Coinbase recently suffered a second round of staff cuts this year, which many feel would allow them to gain market share as a result of FTX's demise.


As investors sell riskier assets due to rising interest rates and concerns about an economic slowdown, cryptocurrencies are under pressure. Approximately 81% of Coinbase's shares have fallen this year.