Aurelia Butler

More stories

  • 100 Shares99 Views

    in Economy

    48 hours on Turkey's roller coaster currency markets

    LONDON (Reuters) – Turkey’s financial markets saw their wildest 48 hours in decades after a plunge in the lira forced the government into a radical new plan to convince Turks to stick with the currency.Incentives include a promise to hand out money if the country’s inflation rate continues to exceed banks’ savings rates, the removal of a withholding tax normally charged on the government’s domestic bonds and an increase in private pension contributions.Below are four charts on how the drama unfolded:ROUT TO REBOUND The lira had threatened to spin out of control having lost more than half of its value since the central bank began slashing interest rates in September. The new plan triggered a 32% rebound on the view that Turks are less likely to panic and convert all their lira into dollars or gold for now.The jump has put the currency on course for its second best week in recent memory with only a 33% gain in 2001 surpassing it.Currency experts caution that it has happened at the quietest time of the year in FX markets meaning there has been little resistance to the moves. For a related graphic on Lira rebounding 32% after 55% slump since September, click https://graphics.reuters.com/TURKEY-CURRENCY/zjvqkyremvx/chart.png SWAP SPIKEIt also meant any trader who was shorting the currency – or betting it would continue to fall – would have been forced to quickly close their bets to prevent major losses.Many of those bets are made using currency swaps, so in the mass scramble to safety the swap rates spiked. For a related graphic on Lira swap rates surge as anti-dollarisation plans unveiled, click https://graphics.reuters.com/TURKEY-CURRENCY/dwvkrzxdqpm/chart.pngSPEAKING VOLUMESThe rebound would have been amplified because most big banks and traders have closed positions ahead of the Christmas break at the end of the week, meaning reduced volumes.Refinitiv data, which covers a select group of platforms, shows trading volumes over the last two days of 34,000 and 41,000 lots, some of the lowest of the year.For a related graphic on Lira daily volumes in 2021 click, https://graphics.reuters.com/TURKEY-MARKETS/LIRA/gdpzymxwrvw/chart.pngVOLATILE TIMES The main FX market lira volatility gauges were already at record highs after the lira hit record lows last week but they rose further after the lira saw one of its biggest intraday swings – 55% at is most extreme – yet.The country’s main stock market was also forced to halt trading repeatedly as stocks winced at the sharp jump in the currency. Istanbul’s main bourse is down over 13% since Monday, putting it on course for its worst week since the 2008 financial crisis. For a related graphic, click https://fingfx.thomsonreuters.com/gfx/mkt/gdpzymlxkvw/Pasted%20image%201640076530130.png More

  • 113 Shares119 Views

    in Cryptocurrency

    National Parks NFTs Give Outdoor Enthusiasts Social Club Membership

    Mick Gow, founder of National Parks NFTs believes that NFTs are ready to mature beyond just artwork. “Our NFTs are the key to real-world utility – a club for earth’s most passionate outdoor enthusiasts”, says Gow. While every NFT is a stunning piece of art from the 63 national parks, it’s their record on the blockchain that gets each member access to the club, and unlike an image, that can’t be copied.Where the artwork comes into play, is that each NFT has a set of unique traits that holds the key to a type of gamification. Different traits give you access to different membership perks. Hundreds of these types of combinations via traits mix-and-match members with benefits. “One example is that we may partner with a company that offers discounted hiking boots, but to be eligible, you must hold an NFT that has a hiking trail in the artwork” explains Mick Gow.The project has launched on social media including Twitter (NYSE:TWTR), Instagram, and early adopters are gathering in the Discord platform. The final minting day where people can purchase NFTs is set for late January.The project roadmap shares a vision that includes future NFT drops for tour guides to be able to service the club members, mobile apps that bring augmented reality (AR) and virtual reality (VR) experiences, and even Pokemon Go style games members can play to find objects located across parks. The project also mentions interesting fundraising efforts to donate back to the parks, and partnering with carbon offset projects in the NFT space.EMAIL NEWSLETTERJoin to get the flipside of cryptoUpgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.[contact-form-7]
    You can always unsubscribe with just 1 click.Continue reading on DailyCoin More

  • 125 Shares189 Views

    in Cryptocurrency

    Crypto.com Becomes Angel City FC’s Exclusive Crypto and NFT Partner

    In its global campaign to make a difference, Crypto.com becomes the first cryptocurrency platform to officially partner with a professional women’s sports team. Revealing the news, Crypto.com says it is now a founding partner of Angel City Football Club (ACFC) and the team’s official cryptocurrency and NFT partner.By virtue of this recent alliance, the world’s fastest-growing cryptocurrency platform has deepened its relationship with Los Angeles and LA sports fans. Moreover, Crypto.com will support financial education and independence, and financial empowerment for players and fans.Speaking on why they embarked on this valuable mission, the leading exchange says ACFC is mission-driven to create a different kind of football club that levels the playing field in women’s sports. Thus, mirroring Crypto.com’s mission to level the playing field financially through cryptocurrencies. Kris Marszalek, co-founder, and CEO of Crypto.com affirms,This latest development comes following the recently-announced naming rights agreement for the Crypto.com Arena in Los Angeles. Crypto.com will increase access and awareness of cryptocurrencies, blockchain, and Web3 technologies among LA soccer fans, ACFC players, and across the broader ACFC organization.ACFC is leading the way in women’s sports, creating innovative partnership models and tapping into a diverse and dynamic ownership group that includes Alexis Ohanian, Natalie Portman, Eva Longoria, Jessica Chastain, Uzo Aduba, Julie Foudy, Mia Hamm, and more. The partnership will include a focus on community engagement, financial equity, and social impact initiatives. Alexis Ohanian, Seven Seven Six Founder, and ACFC Leading Founding Investor submits,Crypto.com continues working to expand access to cryptocurrency across diverse communities globally and not just the creative capital of the world, Los Angeles. Combining efforts with ACFC, one of the most forward-thinking professional sports teams in the world is a big feat for Crypto.com.ACFC Co-Founder and President Julie Uhrman,From December 25, 2021, one of the most iconic and globally recognized sports and entertainment arenas in the world, STAPLES Center will be known as the Crypto.com Arena. This is as a result of last month’s historic 20-year naming rights agreement between Crypto.com and AEG, the world’s leading sports and live entertainment company, owner, and operator of the STAPLES Center. Of note, Upland Workshop worked in partnership with ACFC and Crypto.com to advise on this deal.Crypto.com’s growing portfolio of global sports partnerships with this recent alliance with ACFC, including UFC, F1, Paris Saint-Germain, and the NBA’s Philadelphia 76ers, to the NHL’s Montreal Canadiens, esports team Fnatic, and Lega Serie A, the Italian Football league and Twitch Rivals.Continue reading on CoinQuora More

  • 175 Shares109 Views

    in Cryptocurrency

    H.E. Justin Sun Wins Blue Origin Auction, Will Fly to Space with Five Crewmates

    H.E. Justin Sun, Founder of TRON and Permanent Representative of Grenada to the World Trade Organization (WTO), has shared that he made the winning bid for the first seat on Blue Origin’s Inaugural New Shepard rocket.Amounting to $28 million, the full bid went to Club for the Future, which is owned by Blue Origin. The amount benefited 19 space-based charities that will help inspire future generations to aspire for careers in STEM and invent futuristic life in space.Sun, along with five crewmates, will fly on a New Shepard flight next year. Furthermore, the TRON founder will be the first Grenadian blockchain industry leader, and international diplomat to reach space. To celebrate this milestone, he will be bringing the Grenadian flag with him. More

  • 100 Shares119 Views

    in Cryptocurrency

    China’s state-run news agency to launch NFT collection

    The stride into NFTs is puzzling in light of recent events in the world’s second-largest economy. Following a nationwide crypto crackdown where Bitcoin (BTC) and Ether (ETH) mining was banned, China has recently taken aim at NFTs and metaverses and proposed that they should be heavily monitored. Despite the anti-crypto sentiment, tech giants Tencent and Huawei were not discouraged from pursuing trademarks in the metaverse. Continue Reading on Coin Telegraph More

  • 88 Shares169 Views

    in Economy

    U.S. SEC says EDGAR facing technical problems

    EDGAR, or the Electronic Data Gathering, Analysis, and Retrieval system, has a database of filings submitted by companies and others, which are required by law to file forms with the SEC.”The EDGAR system is currently experiencing technical difficulties,” a banner message on SEC’s website read. “EDGAR is not currently disseminating to (Public Dissemination Service) servers at this time, so PDS subscribers are not able to receive filings,” SEC said in an email notification, adding it was investigating the issue. No company filings showed on the database since Tuesday night, according to a Reuters check. More

  • 138 Shares139 Views

    in Cryptocurrency

    UFO Gaming Partners With Horizon Union As Part Of Rapid Expansion

    UFO Gaming is no stranger to press- the company recently made headlines for being the first P2E platform to sponsor an e-gaming event, an Apex Legends tournament that featured Twitch streamers Apryze and Nokokopuffs with a $10,000 cash pool at stake.As Technology Sponsors of Chainlink’s Fall 2021 Hackathon, the company’s community-driven principals have helped them soar to a $1bn market cap, despite the token only releasing in August.Unlike traditional gaming models, UFO Gaming’s P2E platform provides real-world value for players. Their launch game, Super Galactic, is set to release soon, and will include a dedicated NFT Marketplace, where gamers can trade their own characters, weapons, and other in-game items using UFO. Only 10,000 of the first edition NFT characters, also called ‘Genesis NFTs’, will be minted and available for players.Partnering with Horizon Union will allow UFO Gaming to continue its exponential growth within the gaming sphere, focussing especially on collaborative events and activities, influencer messaging, as well as more interactive campaigns. The long-term strategic partnership has gained the attention and excitement of gamers and crypto-watchers alike.A representative from UFO Gaming commented on the partnership, stating:”We are excited to partner with Horizon Union and have already planned the next steps together to educate players, make blockchain gaming more accessible, and unleash its true power upon the gaming industry – giving players the ability to earn while playing.”
    Horizon Union, founded in 2017 by Kieran Wood and Will Mollett, has grown to house over 30 micro creators who drive and deliver content via an always-on strategy. Working alongside global brands such as GFUEL, Boost Gaming, ChampionUS and now UFO Gaming, the organization operates on the core principles of working closely with creators to provide strategic business value, within various verticals in the gaming world.An esports entry has always been part of future planning for Horizon, and by working alongside partners such as UFO Gaming, the company will continue to showcase an extensive amount of growth. As the UK esports industry continues to experience an immense boom, Horizon Union remains committed to developing and nurturing grassroots competitive talent, alongside establishing stature.The partnership, therefore, has both parties equally thrilled. Will Mollett, Co-Founder and Talent & Partnerships Lead at Horizon Union, stated:”The partnership with UFO Gaming is nothing short of a testament and statement to the future. Working with a brand that is so forward-thinking and success-driven, for not only themselves but also their community, is a mirror of Horizon and our ways of working. Excitement for what is to come could not be a larger understatement.”
    With the success of companies such as Gala Games and Sky Mavis, the GameFI space is full of newcomers – separating the ambitious from those that can actually execute will be key for gamers and investors alike these coming months. As UFO Gaming continues to release new updates for the upcoming season, one thing’s for certain – everyone’s going to be watching to see what happens next.EMAIL NEWSLETTERJoin to get the flipside of cryptoUpgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.[contact-form-7]
    You can always unsubscribe with just 1 click.Continue reading on DailyCoin More