Marcello explains us in today’s Recap that Binance lost its key auditor and saw $5 billion in withdrawals in only one day; Colorado has started to pour recycled sewer sludge back into people’s drinking water faucets; the Fed interest rates were raised as anticipated but also hinted additional future rises in an effort to contain inflation.
Canadian Securities Administrators (CSA), Canada’s financial regulator has provided new measures designed to strengthen its oversight of cryptocurrency exchanges, including a ban on margin/leverage trading. For the purposes of these securities regulations, “Platforms located outside of Canada that are accessible by Canadians, are regarded as operating in Canada,” the CSA has stated.
Shares of U.S. automaker Ford Motor Co, fell -7.06% on Friday to $12.12, as it announces another price increase for its highly anticipated electric truck. Ford is trying to balance covering rising raw materials costs, without pricing some customers out of affordability. The stock is down -41.65% in 2022, with a market cap of $48.73B.
This year will go down as the worst year for U.S. Initial Public Offering (IPO) since 1990. 74 firms have raised just $8B via U.S. IPOs thus far in 2022. Proceeds are down an astounding -95% from last year & at least 50% lower, then any of the past 31 years. The U.S. IPO number is down -88% from 2021 & the smallest since 2009.
An enormous aquarium in Berlin burst early Friday, spilling 1M liters (264,172 gallons) of water, around 1,500 exotic fish & debris onto a major road in the busy Mitte district. The site, a complex that houses a Radisson hotel & a museum as well as what Sea Life Berlin said was the world’s largest freestanding cylindrical aquarium at 14 meters (46ft) in height. If it hadn’t happened at 5.45 am, but even 1 hour later, there would have been human casualties.
On Tuesday, U.S. tech titan Apple announced that its safety service Emergency SOS via satellite, is now available to customers in France, Germany, Ireland & the UK. Available on all iPhone 14 models, the technology enables users to message with emergency services, while outside of cellular & Wi-Fi coverage.
U.S. software giant Adobe reported a great 4th quarter, with shares rising 2.99%; Argentina’s annual inflation accelerated less than expected; scientists made a breakthrough discovery at a U.S. federal facility creating more energy from nuclear fusion reactions.