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Market View: Wall Street in retrenchment mode, Hong Kong’s aim to become a crypto hub vs. FTX saga, US blacklists YMTC, EVs and crypto mining on power reliability
Wall Street is in a retrenchment mode with job cuts and hiring freezes in the tech world making their way to the finance industry. Major banks including Goldman Sachs Group, Morgan Stanley and Credit Suisse Group have either announced plans or carried out rounds of layoffs ahead of an impending recession. Is this a cause for concern or should investors heave a sigh of relief that banks are taking measures ahead of a potential downturn? Elsewhere, the crypto sector continues to be a focus area of our discussion today, with Hong Kong Bitcoin and Ether Crypto ETFs raising US$79 million amid the…
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