The Daily Leo #239: $4M WBTC Exit Scam, Hong Kong's Banks Turn Crypto Friendly

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EMERGING MARKETS-Stocks, currencies pressured by banking crunch
Emerging market stocks and currencies dipped on Monday in a dull start to the final week of the first quarter as fears about a global banking crunch persisted, with South Africa's rand down ahead of a central bank decision later this week.

EM stocks carried declines over from Friday when Germany's biggest lender Deutsche Bank shares plunged..

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Impax CEO Says Funds Have Run Out of ‘Investible’ Green Assets
Impax Asset Management Group, which runs one of the world’s biggest investment portfolios geared toward a low-carbon economy, is warning that even after the latest wave of subsidies and incentives, there just aren’t enough places to allocate green capital.

Governments still have a lot more levers to pull before policies are powerful enough to address the upheaval that climate change is causing....

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European DeFi startups saw 120% increase in VC investment in 2022
According to a new study released by European investment firmRockawayX, VC investment in crypto startups based in Europe reached its all-time high in 2022 with $5.7 billion invested

European DeFi startups hit $1.2 billion in 2022, which is a 120% increase from the"....

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Crypto Lender Kokomo's Developers Use Wrapped Bitcoin for $4M ‘Exit Scam’
Developers behind the Optimism-based lending protocol Kokomo Finance seemed to conduct an exit scam over the weekend after manipulating tokens on the protocol to effectively steal $4 million in user funds.
An exit scam is said to occur when developers or promoters of a crypto project ..

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Cryptocurrencies add nothing useful to society, says chip-maker Nvidia

The US chip-maker Nvidia has said cryptocurrencies do not “bring anything useful for society” despite the company’s powerful processors selling in huge quantities to the sector.

Michael Kagan, its chief technology officer, said other uses of processing power such as the artificial intelligence chatbot ChatGPT ...

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China state-owned banks turn crypto-friendly in Hong Kong: Bloomberg
A number of Chinese state-owned banks’ branches in Hong Kong have started offering services to local cryptocurrency companies, Bloomberg reported on Monday, as the city welcomes a growing list of cryptocurrency and digital asset firms looking to expand or relocate to the city...

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