The Sunday Brew #3
A wintry newsletter with heavy fog hung over climate, tech and crypto! #Cop27 #Meta #FTX
Your weekly brew made up of top stories, key events and some great insights; slow roated & served hot!
In this week’s brew:
Follow Up
Rupee going Global: International Trade Settlements in Indian Rupee
Winter is Here: First Week at Cop27 Climate Summit
It is again that time when every year hundred of world leaders fly to a destination in private jets, to discuss the human generated impact on the climate. A bit ironic, but you make the best of what you have. This year 110 world leaders along with many more industry leaders, journalists and activists have arrived in Egypt this week. Needless to say, it has generated more controvery so far than solutions.
Here is a quick round up of the first week published in The Guardian
Winter is Here: The Great Firing at Meta
Tech winter is just getting severe. Last week it was Twitter and this week the story repeats itself at the Meta headquarters. Following huge investments that Meta has committed to its metavers initiatives, that has been called less than prudent, slashing of 11000 jobs was announced. To be honest, Meta is not the only company facing tough situations. If not firing, recruitment freeze is happening across the tech companies.
Read this statement by Mark Zuckerberg shared with the employees of Meta
Winter is Here: The FTX Crash
Coldest wave of the winter so far was felt in the world of cryptocurrency when the wonder exchange of FTX came crashing down. Fog of the mystery still hangs heavy on this developing story. There seems to be far more skeleton in this closet than one would expect the closet capable of holding. Here is a short explanation of what underwent at FTX on Finshots.
But in last 24 hours, we are looking at what can be construed as a scam. It also seems someone has hacked and siphoned off about a billion dollors in crypto currencies from the exchange. FTX has filed for bankrupty protection.
FOLLOW UP
Rupee going Global: International Trade Settlements in Indian Rupee
A follow up to the last week’s Rupee going Digital. On 9th November, Ministry of Commerce & Industry put out a press release announcing central government’s decision to allow settle international trade in India Rupee for export promotion schemes in a step towards risk mitigation from weaponization of existing international payment settlement systems.
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