To run a business, you must be informed about today’s business news headlines. Besides reading financial and business journals and magazines, you should also watch for interesting headlines on the news wires. After all, running a business is not an easy task, as it requires learning and effort. Fortunately, there are some websites that provide you with up-to-date business news in India. Some of these websites even offer economic news and finance bulletins, so you can keep yourself informed. You should also learn about candlestick charts, which describe price movements of derivatives, currencies, and securities. These charts are not just a marketing gimmick, but are a very real way to keep yourself informed about the market.
FTX collapse suggests no company in the free-and-loosely-regulated crypto industry is safe
The sudden collapse of the prominent cryptocurrency exchange FTX is a wake-up call for the industry. It exemplifies the high volatility of the industry, which is largely unregulated. FTX was built on risky trades, in which investors borrow money to place large bets on the value of cryptocurrencies. That practice is still illegal in the United States. But FTX founder and CEO Mark Bankman-Fried made it his business to lobby American regulators to allow him to operate in this risky manner. He also became a devoted political donor, donating $5 million to the 2020 campaign of Joe Biden.
FTX’s collapse highlights the importance of strong business practices in the crypto industry. Companies that are too centralized can fail. For instance, FTX failed to make timely withdrawals to its customers, which led to its collapse. While FTX’s collapse may be a one-time occurrence, it indicates that no company can be guaranteed the safety of its customers.
FTX’s collapse could prove to be the start of a messy end for the crypto industry. It also could potentially affect other companies in the industry, including those with large institutional focus and venture capital backing. The lack of regulation in the industry has made it difficult for federal regulators to get involved, but the Commodity Futures Trading Commission (CFTC) is keeping an eye on the situation. The Securities and Exchange Commission (SEC) is also investigating the matter.
While FTX has not publicly disclosed the amount of money that customers withdrew from the company, its collapse does not bode well for investors. According to a person familiar with the figures, the size of the hole in FTX’s balance sheet is upwards of $8 billion. Another source says that withdrawals are halted for international customers. Bankman-Fried’s team is working through a backlog of withdrawal requests. But if you are an investor, it is best to avoid FTX if you can. Instead, Wilson suggests looking for decentralized exchanges and transferring your capital to them.
The FTX collapse will only increase regulatory scrutiny of the crypto industry. But the best defense against future problems is transparency. The cryptocurrency industry needs to move beyond the shadow of centralized regulation and move towards a decentralized model for its funding and trading.
PayNow link with UPI could serve as a model for establishing a cross-border payment infrastructure between India and Asean countries
The PayNow link with UPI could prove to be a breakthrough in establishing a payment infrastructure between India and Asean countries. By integrating their payment systems, India and Asean countries would be able to provide a friction-free cross-border payment experience to their citizens. This could also make it easier for migrant workers, tourists, and small businesses to transact within the region.
Despite the recent advances in technology, many ASEAN countries are still lacking a reliable and seamless payment infrastructure. While many financial technology companies and banks have already introduced technology that enables cross-border payments, challenges remain. For example, many of the companies attempting to establish a cross-border payment infrastructure between India, Thailand, and ASEAN countries still have limited capabilities.
The PayNow link with UPI could serve as an example for other ASEAN countries. The PayNow network is similar to the RuPay card payment system in India, but it also has links with other ASEAN countries. By establishing payment connectivity between the two nations, migrant workers, tourists, and small businesses would be able to receive money from their employers.
In addition to its direct links with UPI, PayNow is working with other ASEAN countries to improve cross-border payment. PayNow has already forged links with Malaysia, Thailand, and the Philippines. These connections will reduce transaction costs for India.
The linkage will make sending money easier. With an integrated system, people in India and ASEAN countries will be able to send money more quickly and conveniently. It will also eliminate the need for recipients to enter their bank account details, which is necessary for traditional cross-border payment systems.
Payments made using UPI could help increase India’s economy. PayNow has partnered with a number of banks to help facilitate cross-border payments. Singapore is a member of the ASEAN Economic Community, which means it is a major trading partner. By enabling payments between Asian countries, PayNow could help reduce trade barriers and strengthen international relations.
A third goal is the creation of programmable money. Blockchain technology offers the opportunity to create programmable money that is secure and transparent. Unlike traditional currencies, stablecoins are backed by reserves and can be used to make payments. These programmable currencies can also be used for wealth management products.