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On May 11, it was reported that Ali Al-Zaidi, a relatively unknown Iraqi businessman, has become a leading candidate for the next Iraqi prime minister after receiving support from US President Donald Trump. Trump not only invited the businessman to Washington but also stated that the US "will support him all the way." However, the White Houses support comes with conditions: Zaidi must exclude Iranian-backed militias from the next Iraqi government and weaken Tehrans influence in Baghdad. Zaidi has previously faced similar pressure from the US. Current and former US officials have stated that Zaidi owns a bank that the US Treasury Department banned from dollar transactions in 2024 due to suspicions of business dealings with a militia leader linked to the Iranian Revolutionary Guard.Goldman Sachs: Expects the Federal Reserve to cut interest rates by 25 basis points each in December 2026 and March 2027, down from previous forecasts of cuts in September and December of this year.May 11 - According to data from the China Passenger Car Association, retail sales of new energy passenger vehicles in April reached 849,000 units, a year-on-year decrease of 6.8% and a month-on-month decrease of 0.3%; from January to April, retail sales of new energy passenger vehicles reached 2.758 million units, a year-on-year decrease of 17.2%.On May 11, the Heilongjiang Provincial Communications Administration issued a notice soliciting public opinions on the "Heilongjiang Provinces 15th Five-Year Plan for the Development of the Information and Communication Industry (Draft for Comment)". The draft states that by 2027, the layout of new information infrastructure will be basically complete. 5G networks will cover cities, counties, towns, and scenic areas. Gigabit fiber broadband will achieve full coverage in urban and rural areas, and key industrial parks will achieve "10-gigabit backbones". By 2030, a high-speed, ubiquitous, integrated terrestrial and satellite information infrastructure, cloud-network convergence, intelligent and agile, green and low-carbon, and secure and controllable intelligent comprehensive information infrastructure will be basically completed.China Passenger Car Association (CPCA) reported that retail sales of passenger cars in China reached 1.384 million units in April, a year-on-year decrease of 21.5%.

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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