Month: May 2023

IMF optimism in Central African Republic, despite Bitcoin adoption

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The Central African Republic (CAR) has received optimism from the International Monetary Fund (IMF) one year since it adopted Bitcoin (BTC). The IMF’s positive outlook reflects the country’s economic prospects and the impact of embracing the leading cryptocurrency. The IMF published a report expressing a more positive view of the country’s economic prospects for 2023. The report indicates a projected rebound in real gross domestic product (GDP) growth to 2.2%, attributed to factors such as the base effect and policy adjustments leading to enhanced fuel supply. The IMF also anticipates an average…

Crypto Hardware Provider Ledger Delays Its Key-Recovery Service after Uproar

After a strong community backlash, Ledger announced that they have already open-sourced part of the Ledger code. Crypto hardware wallet provider Ledger recently announced that it be delaying the launch of its key-recovery service. This measure comes following strong criticism from the crypto community. Ledger CEO Pascal Gauthier wrote to all Ledger users that the firm has no plans of introducing the new feature before releasing the code for it. On Tuesday, May 23 at 12:30 p.m. ES, the company also scheduled a Twitter spaces session to discuss the issue.…

Tel Aviv Stock Exchange Taps TipRanks’ Tools

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Israel’s Tel Avil Stock Exchange (TASE) has integrated TipRanks’ Smart Portfolio solution with the bourse’s new consumer-facing platform, TASE+, which provides users insight into their portfolio holdings, Finance Magnates learned exclusively. “We are excited to introduce our innovative Smart Portfolio to the Start-Up Nation,” said the CEO of TipRanks, Uri Gruenbaum. Uri Gruenbaum, CEO TipRanks “Now, all Israeli investors who trade on the TASE will have access to the same top-level investing insights as professional traders and hedge funds. TipRanks levels the playing field for everyday investors, giving them the…

Virgin Orbit Shuts Down Operations and Divests Assets Following April Bankruptcy

Aerospace spinoff Virgin Orbit recently shut down, ending six years of operation after failing to secure a funding lifeline. Virgin Orbit has shut down its operations following the disposal of its assets and equipment to a trio of aerospace companies in a bankruptcy sale. The company confirmed its closure after Rocket Lab (NASDAQ: RKLB), Stratolaunch, and Vast’s Launcher procured its assets in an auction. Virgin Group thanked all its stakeholders for contributing to the company’s six-year operations, during which it advanced the aerospace industry. The statement read: “As Virgin Orbit embarks…

Web3 threatened by Web2.5 and regulations, exec warns

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As Web3 remains in its early stages, its ideals and original vision of creating an interoperable financial landscape are under attack, according to Jamie Burke, the founder and CEO of Web3 accelerator Outlier Ventures. In an interview with Cointelegraph, Burke outlined several aspects of Web3 that are currently being threatened by concepts like Web2.5 and regulatory actions. The executive said that while these are “understandable,” it takes Web3 away from its original purpose and hinders its wider vision. Interview with Outlier Ventures founder Jamie Burke  According to the executive, some…

“It’s important not to get caught out.” – New SARs guidance for employers issued

ICO publishes new guide on responding to subject access requests Employers risk fine or reprimand Over 15,000 Subject Access complaints to ICO last year The Information Commissioner’s Office (ICO) has today published new guidance for businesses and employers on responding to Subject Access Requests (SARs). The right of access, commonly referred to as a subject access request or SAR, gives someone the right to request a copy of their personal information from organisations.This includes where they got their information from, what they’re using it for and who they are sharing…

“It’s important to not get caught out.” – New SARs guidance for employers issued

ICO publishes new guide on responding to subject access requests Employers risk fine or reprimand Over 15,000 Subject Access complaints to ICO last year The Information Commissioner’s Office (ICO) has today published new guidance for businesses and employers on responding to Subject Access Requests (SARs). The right of access, commonly referred to as a subject access request or SAR, gives someone the right to request a copy of their personal information from organisations. This includes where they got their information from, what they’re using it for and who they are…

Chinese city launches gov’t-backed metaverse platform

On May 22, Nanjing, the capital city of China’s eastern Jiangsu province, inaugurated the Chinese Blockchain Technology and Application Innovation Platform to foster and advance metaverse research and development across the country. The newly established state-backed entity is led by the Nanjing University of Information Science and Technology (NUIST). As per an announcement on NUIST’s official social media account, the platform consists of founding members representing diverse academic institutions and blockchain-related companies throughout mainland China. The platform aims to bring together the resources of academic institutions and enterprises in China,…