Some members of the Libra Association withdraw their support for the project
According to a Financial Times (FT) report, at least 3 supporters of Facebook’s controversial crypto project, Libra, have withdrawn their support.
The decision is due to pressure from regulators around the world. Many countries have paid particular attention to the project, expressing concern about Libra’s privacy policies. Most Libra members, including giants such as Mastercard, Visa and Uber, are afraid that the suspicion of the regulatory authorities will cause inconvenience to their business.
Problems with Amazon AWS servers affect the activity of crypto exchanges in Asia
Amazon’s AWS cloud servers in Tokyo are experiencing technical problems, which has affected the activity of crypto exchanges in Asia.
Binance CEO Changpeng Zhao announced on Twitter that “Amazon servers return error 500, blocking access to withdrawal processing APIs.” For this reason, the platform has suspended funds and withdrawals for the moment.
At the same time, the KuCoin exchange reported an overheating problem on the AWS servers, which made their services completely unavailable.
Suspending activity is a big problem for platform users, as market volatility can allow traders to buy Bitcoin very cheaply by pre-placing limit orders. Primitive Ventures founder partner Dovey Wan posted a screenshot of the BitMax exchange, showing that users placed a purchase order of 45 BTC for one USDT at a time when the Bitcoin price was actually 10,190. $.
Currently, AWS services are back to normal.
Coinbase Wallet allows the use of dApps on the desktop
Coinbase wallet now offers customers the ability to use decentralized applications (DApps) on any desktop browser through the WalletLink service.
According to the blog post, Coinbase Wallet users can now use their DApps through WalletLink, which serves as a bridge between the application and the client’s desktop browser.
It works with Google Chrome, Mozilla Firefox, Microsoft Edge, Opera and the decentralized browser based on blockchain Brave. The company plans to add support for native mobile applications and more cryptocurrencies in the future.
New signals of global banking crisis: banks plan to eliminate over 30,000 jobs
Global investment banks have suffered this year, with European banks being the most affected. As a result, nearly 30,000 jobs have been eliminated or will be cut across the sector.
A report published by the Financial Times shows that Deutsche Bank is responsible for most layoffs under its major restructuring plan. Over 18,000 jobs will be eliminated this year. The German bank also recorded the largest loss in 2008 in its latest activity report.
Barclays, Societe Generale and Citigroup also announced reductions in the number of employees in their operations.
Part of these reductions is due to the automation of operations. In contrast, the financial results of the entire banking system were very weak this year. The reduction of the interest rate affects the profitability of the banks and forces them to take measures to reduce the expenses with the staff.
Many analysts from the crypto community believe that a global financial crisis is imminent, which will increase the popularity of cryptocurrencies. Because they are not dependent on interest rates, Bitcoin and other cryptocurrencies can be a protection for investors.