The Daily LEO #303 UBS Looks to axe 30% of Staff and KuCoin to introduce Mandatory KYC
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UBS looks to axe 30% of staff and keep Credit Suisse's domestic business
Switzerland's Bank UBS is planning to reduce the manpower by almost 30% and this update was shared by Chief Executive Sergio recently. We have seen a lot of layoffs this year and it seems still the job market is not stable. Cost reduction could be one of the primary reasons for the layoff and you can check out more here
Biden argues his economy is beating the rest of the world
President Biden has been trying to present a good picture of the US economy and as per him, the US economy is doing better than the rest of the world. This is good as per him and Biden surely deserves the credit for making this happen. Read more about this update here
KuCoin crypto exchange to introduce mandatory KYC in July
The leading cryptocurrency trading exchange KuCoin has announced that they are going to change the KYC policy effective July month. KYC will be mandatory for everyone to avail of services on the platform and this could be because of the ongoing compliance issue in the US. Read more here
Ledger launches custodial trading network for institutions
Ledger is a well-known name in the segment of hardware crypto wallets and now the company has taken another step ahead. They have launched the custodial trading network named Tradelink for institutions and this way they are trying to cater to the bigger investors in the crypto market.
This is good news for institutional investors as now they can trade with ease
TrueUSD Depegs on Binance.US, Drops to 80 Cents Against Tether
TUSD aka TrueUSD is known as a stablecoin and its value is pegged to USD how this has got depegded on Binance US and hit a low of 80 cents. This is an alarming situation for the TUSD investors and probably the time to make a switch once it goes back to normal which is $1. Check more here
LeoFinance Unveils Game-Changing Updates
The LeoFinance team has been working hard to make the UI super smooth and bug-free. Now they have pushed the upgrade and with this, the UI has become flawless. They have also enabled the options for setting beneficiaries and exploring new pay-out methods. Even they have added the option for editing and deleting the posts. Check out more in the post
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Kucoin is also becoming a fully KYC compulsory exchange.
As we get closer to crpto regulations, it will be must for all of them.
Thanks for Daily LEO ✌🏼
Thanks for these news updates. The tough economic situations are making firms resort to staff layoffs which can be saddening especially to those who are losing their jobs.