Crypto’s day of reckoning, Goldman holiday perks
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Reuters
4.4 • 58 Ratings
🗓️ 19 May 2022
⏱️ 26 minutes
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| 0:00.0 | Hear that? It's your big McDonald's hunger calling, because the Big Arch is back, |
| 0:04.8 | and this time it's here to stay with juicy beef, cheddar cheese and that Big Arch sauce. |
| 0:09.9 | Hungry? You are now. |
| 0:11.6 | Order delivery on the McDonald's app. |
| 0:15.0 | Serve from 11am, upcharges and fees apply to delivery orders. |
| 0:17.9 | Subjects availability, price and participation may vary. |
| 0:19.9 | The views expressed on this podcast are those of the participants, not of Rourges News. |
| 0:29.2 | Crypto-untethered, unlimited holidays at Goldman Sachs. |
| 0:33.9 | Welcome back to the views. |
| 0:35.4 | I'm your host, Amy Donman, a columnist of breaking views, |
| 0:38.3 | coming to you from London. |
| 0:40.3 | The cryptocurrency market has taken a battering over the past two weeks. |
| 0:44.3 | So-called stable coins like TerraUSD and Tether, whose value is linked to the US dollar, |
| 0:50.3 | we're at the center of this market route. |
| 0:53.3 | There's a bigger problem with these wobbles. |
| 0:56.0 | These coins play a crucial role in the market and are used as collateral for crypto derivatives. |
| 1:01.6 | But there doesn't seem to be an easy fix for these issues. If companies begin backing their |
| 1:06.5 | stable coins with, say, bank deposits, they'll become less profitable and less attractive compared |
| 1:11.9 | to up-and-coming stable coin providers that are offering much better returns. With such instability, |
| 1:18.6 | further collapses seem likely. Meanwhile, Goldman Sachs is offering senior staff unlimited holidays. |
| 1:25.6 | The Wall Street giant revealed this plan |
| 1:27.5 | in an internal memo which was seen by breaking views. |
... |
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