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According to Business Insider, Google (GOOG.O) is quietly laying off employees in its cloud division.On June 5th, a Pakistani government official told Nikkei Asian Review, "Pakistan plans to initially establish oil reserves sufficient for 45 days of needs, which can be gradually increased to 90 days in the future." The official revealed that the Ministry of Energy plans to adopt a multi-mode strategic petroleum reserve system, including state-supported emergency stockpiles, industry-mandated stockpiles, and bonded commercial warehousing. Among these reserve systems, bonded commercial warehousing has sparked discussion. This refers to storage facilities under customs supervision where imported oil or other fuels can be stored for re-export by domestic and foreign traders without immediate payment of customs duties and taxes. In case of emergency, these stored fuels can be used domestically in Pakistan. Nikkei Asian Review, citing another informed government official, reported that Pakistan is negotiating with Saudi Arabia, Kuwait, Qatar, the UAE, and China to establish bonded terminals within Pakistan. "Gwadar Port could be one of the locations for such a terminal," the official stated.On June 5th, CME Group CEO Terry Duffy expressed "deep concern" about the rise of so-called "perpetual futures," a type of increasingly popular financial contract that recently received crucial approval from US regulators. Duffy pointed out that "perpetual contracts" offer little practical use for institutional investors while simultaneously exposing retail traders to excessive risk. Duffy stated, "I have serious concerns about the structure of these contracts. I dont want to see people who lack understanding of the product ultimately forced out by contract liquidations; after all, they shouldnt be involved in these types of contracts in the first place."British Prime Ministers spokesperson: Starmer has no intention of resigning.US President Trump: Cuba is facing food shortages and lacks energy and oil.

Carbon Neutral Bitcoin and Ethereum ETPs Listed on Swiss Exchange

Cory Russell

Apr 12, 2022 10:43

The two new ETPs on SIX are Bitcoin Zero (BTCO2) and Ether Zero (ETH2O).


The ETPs are the product of a campaign known as "Crypto becomes carbon neutral."


The debut took place at a time when the stock market was in free collapse.


While the crypto market and the stock market are two distinct things, investors can't seem to get enough of both. As a consequence, we are seeing the emergence of Exchange Traded Products (ETPs) (ETPs).


People desire something more sustainable even inside these ETPs, and carbon-neutral ETPs have been designed to meet that need.

Crypto Becomes Carbon Neutral

The influence of crypto on the environment has been a long-debated matter, with no clear answer in sight.


To put a stop to this, the European Union nearly outright outlawed proof of work, but the majority of members voted against it, saving Bitcoin, Ethereum, and other (PoW) cryptocurrencies.


Other businesses, on the other hand, are still attempting to become carbon-neutral, as did an ETP provider for the stock market.


In collaboration with the Swiss FinTech Innovation Lab of the Institute for Banking and Finance at the University of Zurich, Helveteq, a Swiss issuer of ESG-transparent investment products, launched the research-based project "Crypto becomes carbon neutral."


The two ETPs, Bitcoin Zero (BTCO2) and Ether Zero (ETHZ), were born from it (ETH2O).


"It is time to give investors the first carbon neutral crypto ETPs from a Swiss issuer," Dr. Christian Katz, the CEO of Helveteq, said. The relationship between the environment and the blockchain economy is becoming more widely recognized, and we must all work together to create long-term solutions."


These ETPs will be added to SIX's pool of 240 other investment products.

Perhaps Now Isn't the Best Time?

The introduction of the ETPs, which was announced today, was not the best timing given the current state of the crypto market. The market has lost more than $122 billion in total, forming a 6.25 percent long red candle.


However, even before today, the overall market capitalization had fallen below $2 trillion, and is at $1.841 trillion. As a result, there's a significant likelihood that this will have a detrimental impact on the launch of these ETPs.

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