Global Economy Outlook Cut Again, Another Crypto Exchange Leaves Russia & Belarus
Categories: Crypto News UK
Economics news
The World Bank lowered its estimate for global growth in 2022 to 3.2% from a January prediction of 4.1%, Bloomberg reported, citing President David Mal pass. The decline was spurred by a cut in the outlook for Europe and central Asia, which include Russia and Ukraine, it added. Last year, the global economy increased 5.7%. However, in the coming weeks, Mal pass expects to discuss with the bank’s board a new 15-month crisis-response package of about USD 170bn to cover April 2022 through June 2023, with about USD 50bn of this amount to be deployed in the next three months.
Exchanges news
Crypto exchange EXMO announced it is no longer providing services for Russian, Belarusian, and Kazakh clients, deciding to sell the digital assets business in Russia and Belarus, while their Russian Ultimate Beneficial Owner Eduard Bark is leaving the company. (Learn more: As More Russians Support Massacre in Ukraine, Here's How Some Big Crypto Companies Respond)
Legal news
A judge in Delaware, USA, pinned down the value of a normally fluid crypto asset for a USD 25m breach of contract damage award in a suit filed by biometric software firm Diamond Fortress Technologies Inc., which was promised the crypto in payment for their services in 2021, Law360 reported. The judge concluded that the crypto assets in this case should be treated as a security instead of a commodity, it added.
NFTs news
Luxury brand Louis Vuitton announced it has added new quests and new non-fungible token (NFT) rewards to its standalone game app. The NFTs portray Vivienne, an anthropomorphism of the company's monogram, in a variety of looks.
Automotive manufacturer Hyundai Motor Company announced a partnership with NFT brand Meta Kongz to share NFTs depicting its mobility solutions. The company also released a short film introducing the Hyundai NFT universe concept “Meta mobility Universe,” and said it will issue 30 limited editions of “Hyundai x Meta Kongz” NFTs on April 20 to commemorate the release of the film.