Latest news with #UST
Yahoo
4 days ago
- Business
- Yahoo
The Node: The Mad Journey from Terra to GENIUS
Remember Terra? Do Kwon's layer 1 was designed in such a way that its native token, LUNA, worked in tandem with the network's algorithmic stablecoin, UST. When you minted new UST, you destroyed LUNA tokens (thereby constricting supply), and when you redeemed UST, you created new LUNA (expanding supply). That system worked wonderfully as long as UST experienced great demand — which it did, for a while, thanks to a 20% yearly interest on the coin supplied by Anchor Protocol. But in May 2022, huge selloffs caused UST to lose its $1 peg; market participants rushed to redeem their UST, creating a massive new amount of LUNA and pushing the token's price down, which of course led to more UST redemptions, and so on. Over $40 billion in market value was obliterated in 72 hours. Terra's collapse shook the crypto industry, which back then was levered to the gills. Crypto hedge fund Three Arrows Capital blew up, while crypto lenders such as Voyager, BlockFi and Celsius went bust. If that wasn't enough, the U.S. imposed sanctions on Ethereum's Tornado Cash, sending developers all over the world in a bit of a panic. After CoinDesk's Ian Allison reported in November 2022 that Alameda was quite possibly broke, people started yanking their funds out of FTX, which led Bankman-Fried to freeze withdrawals. It turned out that SBF had been fraudulently using FTX customer funds to palliate losses incurred by Alameda Research over the course of the years. Bankman-Fried was arrested (and subsequently sentenced to 25 years in prison) shortly after FTX filed for bankruptcy. Shortly after FTX's demise, SEC Chair Gary Gensler began an aggressive campaign against the sector, suing a huge number of crypto firms (including Coinbase and Kraken) and ushering in an era of 'regulation by enforcement' that was decried by the industry and friendly members of Congress alike. That wasn't the end of crypto's tribulations. Crypto lender Genesis and bitcoin miner Core Scientific were soon added to the list of casualties. Worse, in March 2023 three crypto-friendly banks (Signature, Silvergate and Silicon Valley Bank) suffered from bank-runs and collapsed, making it significantly more difficult for crypto firms to access the banking system. Nic Carter, a prominent crypto VC, accused the Biden administration of trying to debank the crypto industry by employing an Obama-era strategy, a theory which has since gained traction within Congress and the Trump administration. But the winds of fortune finally turned in crypto's favor. When BlackRock filed for a spot bitcoin ETF in June 2023, it felt like Larry Fink himself was shooting a flare in the dark, signaling that Wall Street was ready to embrace crypto. Two months later, Grayscale defeated the SEC in court on the matter of converting its bitcoin trust into an ETF. The agency had little choice than to greenlight a dozen spot bitcoin ETFs in January 2024, which later became the most successful new ETFs of all time. At first showing signs of reluctance about launching spot ether ETFs, the SEC suddenly scrambled to approve the products at the last minute. Some observers linked the change of heart to Trump's new friendliness towards the crypto industry, which contrasted with Joe Biden's hostility. The fact that the crypto industry donated a tremendous amount of money to the former's campaign (and to other pro-crypto politicians) certainly helped as well; we saw yesterday that the Democratic Party, once in lockstep with Elizabeth Warren's anti-crypto crusade, strongly voted in favor of both the GENIUS and Clarity bills. Trump's overwhelming victory in November sent shockwaves through Washington and the crypto industry. The new administration kept its word, though not without hiccups in the form of Trump- and Melania-themed memecoins. Ross Ulbricht is now a free man, and an executive order has been signed to constitute a bitcoin reserve (multiple states, like Texas, Arizona and New Hampshire, have followed suit). Treasury's OFAC has taken Tornado Cash off of the sanctions list, while the SEC has dropped most of its lawsuits and is gearing up to greenlight a bunch of new crypto ETFs. Debanking is no longer a concern. Congress, meanwhile, just passed the GENIUS Act (which creates a framework for regulating stablecoins (unthinkable in the wake of Terra's collapse!!) and will probably pass the Clarity Act (a more complex piece of legislation that assigns clear jurisdiction to the SEC and CFTC when it comes to crypto) before the end of the year. Not to mention that Coinbase stock is trading at record highs, Tether is now seen as one of the most successful businesses in the world, Circle has gone public, Core Scientific (back from the dead) is on track to get acquired by AI firm CoreWeave, and Michael Saylor's bitcoin evangelization has given birth to a horde of companies looking to follow in his footsteps to purchase as much BTC (or ETH or SOL or even DOGE) as they possibly can. All of these events have been reflected in bitcoin's price. The orange coin, which you could briefly buy for $16,000 after FTX collapsed, is now priced at roughly $120,000, and the total market capitalization of the crypto sector is near $4 trillion (up from $830 million in December 2022). Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
6 days ago
- Business
- Time of India
Your screening interview may be with a bot
Representative image BENGALURU: Your first job interview may no longer be with a human. As AI becomes more embedded in recruitment, companies like Fractal Analytics, UST, and Happiest Minds are increasingly deploying bots to conduct technical assessments, evaluate communication, and even assess cultural fit-without a recruiter being around. The surge in application volumes and a widening tech talent gap are driving this shift. Nearly 50% of mid-to-large tech companies are now using AI in some part of the hiring process - mainly in screening and assessments - though many are still in early or pilot stages, says Murali Santhanam, CHRO at Ascent HR Technologies. "Five years ago, AI was just scanning resumes. Today, it's effectively acting as an interviewer," says Savita Hortikar, HR head at FractalAI. The company's in-house AI engine, Ikigai, generates unique, role-specific test papers in real time, minimising repetition and reducing cheating. "Every candidate now gets a fresh test. It has significantly improved the quality of hiring," she said. One key advantage of AI-led interviews is flexibility. "Most candidates prefer late-night interviews. Finding a tech panel at that hour is hard," says Rajesh Chandran Sogasu, head of talent acquisition at Happiest Minds. The company's AI now handles the initial round by posing scenario-based technical questions and evaluating the responses, which are later reviewed by the hiring team. At UST, AI handles both assessments and proctoring. "It tells us if the answers are original or AI-generated. We've built mechanisms to detect tab-switching, eyeball movement, and impersonation," says Kishore Krishna, VP, talent acquisition and resource management. "We've already seen a 20% reduction in hiring time. Once fully integrated, we expect up to 50%." Last year, UST flagged over 500 fraudulent offers through AI-based video audits that identified mismatches between interviewees and candidates who received offers. These AI tools go beyond code assessments. At Fractal, Ikigai also evaluates behavioural and communication traits. "The bot might ask why the candidate is looking for a new role. It analyses tone, structure, and coherence to offer insights into the candidate's mindset," Hortikar explained. This automation is reshaping the recruiter's role. "AI is surfacing great candidates - even those with poorly written resumes. The recruiter focuses on selling the job and gauging fit," said Milind Shah, MD at Randstad Digital India. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
GMA Network
15-07-2025
- Entertainment
- GMA Network
Get to know Mad Ramos, the first Sparkle Campus Cutie winner
Mad Ramos has captured hearts as the inaugural Sparkle Campus Cutie winner! But beyond his striking presence, Mad is a young man with ambition, talent, and a deep sense of purpose. Here are five things to know about Mad, who has joined the cast of Kapuso youth-oriented series "Maka." A friendly face with an intimidating vibe Mad, who was born Ahmad Ramos on November 16, 2005, admitted that he may appear intimidating at times, but he described himself as a "very friendly and approachable" guy. He is a graduating Grade 12 student from the University of Santo Tomas and hopes to take up Customs Administration in college. A proud Muslim Mad is driven by a powerful goal: to represent the Muslim community. "Gusto kong i-represent ;yung Muslim community na kayang-kaya natin makipagsabayan sa ganitong larangan, sa ganitong industry. Kasi konti lang naman 'di ba ang sumusubok sa ganito," he said. He hopes to make his Muslim brothers and sisters proud and intends to continue his mission for them. A talented volleyball player Beyond his budding entertainment career, Mad is an accomplished athlete. He is a volleyball player at UST, where he is part of the varsity team. "Na-recruit po ako doon kaya po nakapag-aral po ako doon," he said. Aspiring action star with big dreams When asked about his dream acting genre, Mad said that he believes his athletic background gives him an advantage in doing action projects. "Feel ko advantage ko 'yun, puwede ring maging leading man, 'di ba? Kahit na may boundaries ako as a Muslim. Siyempre, we'll work things out, may paraan naman iyan para magawa," he said. He foresees himself as a successful actor and model in 10 years, eager to take on all opportunities that come his way, driven by a strong desire to learn and achieve. "Actually lahat gusto kong kunin eh, gano'n ako ka-hungry right now na gusto kong kunin lahat and matuto," he said. A dedicated family guy Mad is deeply family-oriented. He recounts seeking advice and support from his grandmother and parents during challenging times, including preparing for interviews. "I'm very thankful na sinuportahan nila ako hanggang dulo. Kita niyo naman, 'yung iba galing pang Mindanao, who flew from Mindanao papunta dito para lang suportahan ako. Ganon nila ako kamahal," he said. —MGP, GMA Integrated News
Forbes
14-07-2025
- Business
- Forbes
Uncertainties Fade, Opening Door To New Investments
Investment portfolio document The serious uncertainties that emerged and grew beginning six months ago are now diminishing. The worries about harsh times ahead have shrunk. Actions have been tempered and countermeasures have materialized. The slow slog at work Amid the rush to publish sound bites, there are well researched and analyzed articles that explain developments. (For example, the articles published by The Wall Street Journal, The New York Times, and Reuters.) The quality reporting takes time to read and understand. Moreover, viewing the six-month trend requires daily reading. The major shift has gone from examining statements of what is coming to analyzing developments and results. Today's analysis of facts and data reveals disconcerting results. As such, they disprove the original expectations, and they expose the need to take remedial actions. Therefore, today's environment not only reduces uncertainties, but it also increases positive investment outlooks. Articles about bonds being a poor investment are misleading. Criticizing the 60/40 mix of stocks and bonds is wrong. Why the negative view? The problem has not been the bonds; it has been the Federal Reserve's interest rate management. The 20-year graph below shows the price only and total returns of the iShares Core U.S. Aggregate Bond Fund ETF (ECD) versus cumulative inflation and various UST yields. (Note that the graph shows a proper period for bond yield analysis: identical yields at beginning and ending, with the price return being about 0%.) Bond fund results vs interest rates Note that beginning in 2008, when Fed Chair Ben Bernanke first reduced the Federal Funds rate to nearly 0%, bonds began to rise in price, adding to the longer-term bond yields. Then, as the maturing bonds' payments were reinvested at lower yields and bond yields had stopped dropping (and increasing bond prices), the bond returns became poor. Worse, then, was when Fed Chair Jerome Powell raised rates to fight inflation. Bond prices fell and the low yields continued through maturity. So, what now? First, Powell is maintaining the current, higher rates. Moreover, long-term bond yields are driven more by Wall Street than the Fed. So, expect the income return to stay where it is for some time. Second, if President Trump gets his wish for lower Federal Fund rates after he replaces Powell (whose term ends in May 2026), bond yields also might decline, thereby raising bond prices. Expect mixed stock market developments as various economic developments work their way through the various sectors, industries, and individual companies. As has happened in times past, such rejiggering diminishes company leaders and boosts ignored companies. In this market, that would mean the large leaders' underperformance would undercut the index returns. If so, expect an eventual shift away from the widespread, popular index funds to actively managed funds run by portfolio managers who seek higher returns. When this shift has happened before, the gains were significantly higher than the indexes, thus producing a dramatic shift in investor and media interest. While such exciting times can eventually top out, they take some time for that to occur. Today, with the S&P 500 Index funds a mainstay, such a shift could last a long time. Moreover, the huge money flow from large stocks could drive the smaller stocks much higher. Really? Could such a shift happen? Yes, because it has happened before. Remember that stock investing popularity is driven by human nature. Nothing says "Buy!" like rising stocks, optimistic commentaries, and a friend boasting about a quick profit.
GMA Network
11-07-2025
- Sport
- GMA Network
UST, La Salle boot out EAC, Arellano to complete FilOil Preseason semis cast
University of Santo Tomas and De La Salle University pulled away late to stun Emilio Aguinaldo and Arellano University, respectively, in the 18th FilOil EcoOil Preseason Cup quarterfinals on Friday. The second-seeded Growling Tigers pulled off an 82-73 win against the Generals to make the FilOil Final Four for the first time since 2013 while the Green Archers dominated the Chiefs with a 95-77 victory as they completed an all-UAAP semifinals cast. UST will take on National University in their bid to win a breakthrough FilOil title while DLSU will have an early playoff rematch with its tormentor in last year's UAAP finals, University of the Philippines. Gelo Crisostomo shone for UST with a huge double-double of 17 points and 13 rebounds while Kyle Paranada and Koji Buenaflor each chipped in 12 markers. For DLSU, Mason Amos had a near-perfect 5-of-6 shooting from the field to finish with 15 points while JC Macalalag and Kean Baclaan each chipped in 12 markers as they halted the Chiefs' five-game winning streak. —JMB, GMA Integrated News
