3 min.
Editorial Invest in Slovakia
Get information from a selection of articles from other media. Our summary of each of them will save you time. You'll find news from the worlds of finance, technology, and real estate.
Why the FTX crypto exchange collapsed and what it means for the future of the crypto asset market - FTX, the fourth largest cryptocurrency exchange, declared bankruptcy on Friday (11.11.) after a disastrous weekly development. It had a solvency problem that left a multi-billion dollar investment hole in the company. Until recently, it was valued at $32 billion and considered one of the most stable and responsible companies in the cryptosegment. It collapsed when the head of a rival exchange instilled distrust in FTX investors. "So far, it looks like the exchange has taken the user money and loaned it to its sister company, which has used it for other business activities. This is completely unacceptable," says Peter Kriš. The price of bitcoin plunged by nearly 5 % to $16,402 on Friday, the end-2020 level, in response to the bankruptcy announcement.
Cyber attacks are on the rise, here's how directors can improve cyber resilience - MIT CAMS simulation-supported research shows that commitment to and adoption of the World Economic Forum's Cyber Risk Principles significantly improves cyber resilience. One of the key principles is to understand the economic drivers and impact of cyber risks and then align cyber risk management with business needs.
The price tag for luxury. How has the cost of luxurious living changed in a time of high inflation? - Forbes' Cost of Living Exceptionally Well (CLEWI) index rose more than usual, but less than the Consumer Price Index, which is used to assess the economy. Price tags for ultra-luxury items have been pushed up this year mainly by labor shortages, rising raw material costs and increased demand, the same factors that have been driving up costs throughout the economy. The strong dollar, however, has pushed the prices of many items lower.
Prospects for the future - In investing, it is important to monitor not only the development of specific instruments, but also all external factors that affect price movements. At its last meeting, the Fed raised interest rates by 75 basis points to a target rate of 3.75 % to 4 %. The hikes will continue and will likely go higher than we originally thought. There are reports coming out of England that confirm that the housing market there could be on the verge of a significant downturn. The US is the latest to unveil its energy transition plan, which aims to phase out coal in favour of clean energy sources. China will also follow this path. So companies that emphasise this element may have an advantage in 2023 and beyond.
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