TMS Ep303: Crypto headwinds, Indo-US visa delay, Markets, Greenwashing

If not in seconds, the $16 billion wealth of former FTX co-founder Sam Bankman-Fried was gone in hours. FTX, the world’s second biggest crypto exchange, has gone bankrupt. Over 10 lakh crypto investors cannot withdraw their money now. This bust has triggered another round of sell offs on other exchanges. Bitcoin plummeted another 12% in the last five days, after shedding over 70% this past year. So is it the beginning of the end of Crypto?

Finance Minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen discussed cryptocurrency regulations when they met last week in Delhi. Meanwhile, the waiting periods for US visas are expected to ease by mid-2023, a senior US embassy official recently said. That’s cold comfort for many Indians who are facing a waiting period of up to 900 days for appointments. So what has been the impact of the particularly long queue for US visas? 

Moving on to markets, shares of companies within the ambit of the digital theme have succumbed to the turmoil in the global tech industry as recession fears continue to rise. So, what do experts recommend against this backdrop? 

The government, meanwhile, approved the framework for sovereign green bonds last week. It is likely to hit the markets soon. India is steadily moving towards meeting its ambitious green target. So is most of the world. But a few companies and even nations are posing a threat to the world’s march towards a green future. They are not cutting emissions, but the corners. This practice is called ‘greenwashing’. Let us know more about it in this episode of the podcast.