Author: Steven Sahiounie

In 2022, the cryptocurrency market underwent a massive transformation with leading companies like FTX and Luna collapsing. This new reality has sparked numerous debates about transparency and control in this rapidly expanding industry. How will nations across the globe regulate these currencies? What processes can be put into place to ensure user safety? These questions remain unanswered as we look ahead into 2023. It’s undeniable that cryptocurrencies are here to stay despite market fluctuations. With DeFi, NFTs, play-to-earn (P2E), and smart contract applications rising in popularity, many cryptocurrencies will still be excellent investments for 2023. To guarantee success investors need to seek out…

Customers of US bank Silvergate, which provides cryptocurrency services, have withdrawn over $8bn (£6.7bn) of their crypto-linked deposits. Around two-thirds of the bank’s customers pulled their deposits in the final three months of 2022. The bank has sold $5.2bn in assets to cover the cost and remain liquid. It came as three US regulators warned banks that issuing or holding crypto was “highly likely to be inconsistent with safe and sound banking practices”. Silvergate is a bank listed on the New York Stock Exchange, and is therefore regulated within the financial sector. It is one of a small handful of businesses within…

Struggling British regional airline Flybe announced on Saturday that it has stopped ticket sales and cancelled all flights, signaling a potential bankruptcy. According to a notice on its website, the company has entered administration, a form of protection from creditors when a company becomes insolvent. “Flybe has now ceased trading and all flights from and to the UK operated by Flybe have been cancelled and will not be rescheduled… If you are due to fly with Flybe today or in the future, please do not travel to the airport unless you have arranged an alternative flight with another airline. Flybe is unfortunately not…

China’s smartphone sales plunged in 2022, dropping below 300 million units for the first time since 2013, Singapore-based market analysis firm Canalys said on Sunday. According to the report, “mainland China’s smartphone market finished 2022 with an annual shipment of 287 million units,” down from 329 million in 2022, a year-on-year decrease of 14%. Vivo smartphone maker was the leader in sales volumes, with a market share of little over 18%, closely followed by HONOR and Apple. Vivo’s total shipments fell 27% year-on-year, however, while HONOR’s surged over 30%. Apple was the third best-selling phone brand in 2022, and reached…

The German economy is facing two consecutive quarters of contraction, Economy Minister Robert Habeck told a news conference last week at which he presented the newly released projections. In the report, the country’s gross domestic product (GDP) outlook for 2023 was revised to 0.2% growth this year. Last fall, the government had forecast a 0.4% GDP decline for this year. The inflation outlook has also improved due to the recent drop in energy prices. Price growth for the year is now expected to come in at 6%, down from the previous forecast of 7%. “It’s still likely that we’ll have…

Japan’s Toyota Motor Corporation was the world’s best-selling automaker for the third consecutive year in 2022 despite supply-chain constraints, which plagued the industry due to the Covid-19 pandemic lockdowns. According to the company, it sold roughly 10.5 million vehicles throughout the year. The sales included those of its subsidiaries Daihatsu and Hino Motors. While overall sales dipped 0.1% against 2021 due to a 9.6% drop in domestic sales, overseas deliveries jumped to record highs at 8.6 million vehicles. Toyota has now held the title of best-selling automaker for three years in a row. Germany’s Volkswagen, which ranks second, said earlier…

Russia has become Iran’s largest foreign investor, Fars news agency reported on Sunday, citing the country’s deputy finance minister, Ali Fekri. According to the official, Russia “had brought some $2.7 billion worth of investment to two petroleum projects in Iran’s Western province of Ilam in the past 15 months.” The figure accounts for some 45% of the total foreign investment attracted by Tehran over the period, Fekri noted. The UAE, Afghanistan, Turkey and China were also among Iran’s biggest investors in the reporting period. However, Fekri noted that Beijing had notably reduced spending in 2022. “China has invested nearly $185…

The United States government hit its borrowing limit last week, on January 19, leading to new economic worries at a time when most countries are expecting a slowdown in economic growth. The US administration has already started implementing measures to avoid any default, which could have catastrophic effects on both domestic and global economies. What is the debt ceiling? The debt limit, also known as the debt ceiling, is the statutory limit for the amount of money the US Treasury can borrow in the form of securities, including bills and savings bonds, to finance existing federal operations. This may include…

NASA has announced the timescale for sending up a rocket to an asteroid that is worth more than the entire economy of our own planet. It’s called Psyche, and it’s made out of metals that – if we could mine them and get them back down here – would be worth an eye-watering sum of money. But that’s not necessarily the important thing about it. It could be that the hurtling lump of space stuff is the former core of another planet that was bashed around at the very birth of our solar system, meaning there could be some stuff that we could learn…

Michael Gove, the levelling up secretary, is closing in on a multibillion pound deal with Britain’s biggest housebuilders to help resolve the national cladding crisis exposed by the 2017 Grenfell Tower disaster. Sky News has learnt that major companies including Barratt Developments and Persimmon are preparing for the imminent signing of a legally binding contract with the government that could ultimately cost the industry £5bn or more. One executive said they expected the final contract to be signed and unveiled as soon as next week, although they cautioned that the timing remained fluid. Last year, dozens of developers signed a pledge to…