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UK Business Secretary: We will not rethink our fiscal rules because of US tariffs.German Finance Minister: Despite the US announcement of tariffs, negotiations are still ongoing and no one has closed the door to trade negotiations with the US.Switzerlands March CPI monthly rate will be released in ten minutes.Comprehensive tariffs and reciprocal tariffs 1. Mark Zandi, chief economist at Moodys: On a static basis, new tariff revenues account for nearly 2% of GDP (not considering the impact of tariffs on the economy and taxes), which makes this round of tax increases the largest since the tax increases used to finance the war during World War II. 2. JPMorgan Chase report: If these tariffs are fully implemented, the actual tariff rate in the United States may rise to 25%. This will affect about $3.3 trillion worth of imported goods. This years cumulative tariff increase should be regarded as a tax increase of about $660 billion, accounting for 2.2% of GDP, making it one of the largest tax increases in modern history. 3. Capital Economics: Trumps tariffs could generate up to $700 billion (or 2.3% of GDP) in revenue each year, the average import-weighted tariff rate will jump to 19.1%, and the effective tariff rate will rise from 2.3% to around 26%, reaching the highest level in 131 years. 4. CICC: If these tariffs are fully implemented, the effective tariff rate of the United States may rise sharply by 22.7 percentage points from 2.4% in 2024 to 25.1%, which will exceed the tariff level after the implementation of the Smoot-Hawley Tariff Act in 1930. Tariffs may push up US PCE inflation by 1.9 percentage points and reduce real GDP growth by 1.3 percentage points, although it may also bring in more than $700 billion in fiscal revenue. 5. White House assistant Peter Navarro: Trumps tariffs may increase fiscal revenue by three times the scale of the World War II tax increase in 1942, which may become the largest tax increase in US history. 6. Trump himself said that some of the tariffs imposed this week could help the government raise more than $1 trillion in funds over the next year or so, help reduce the national debt, and may even offset some income taxes. Auto tariffs 1. White House Secretary Will Schaaf estimated that Trumps 25% tariff on cars and auto parts imported into the United States could increase "about $100 billion in new revenue." 2. Trump himself said that in a relatively short period of time, that is, one year from now, between $600 billion and $1 trillion would be raised. 3. The Yale Budget Lab, a think tank, estimates that auto tariffs could raise revenues of about $600 billion to $650 billion over 10 years, rather than in one year as Trump said, averaging $60 billion to $65 billion on an annual basis.UK Business Secretary: We have safeguards in place to ensure we are not overwhelmed by unwanted goods.

Blockchain Games Raise $2.5B As Dapps Lose $1.2B to Hacks in Q1 ’22

Skylar Shaw

Apr 21, 2022 09:46


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According to the research, approximately $12 billion in NFT transactions were done in Q1 2022.


Over the same time span, DeFi technologies have lost more than $1.2 billion.


Venture capitalists have invested $2.5 billion in gaming businesses, bringing the total value of GameFi TVL to $28 billion.


Bitcoin and altcoins are no longer the exclusive forms of cryptocurrency. With the emergence of the Metaverse, space has become a realm unto itself, both metaphorically and physically.


NFTs have become a need for investors, and gaming projects have gotten a lot of attention this time around as well. But how much is the question?

DeFi knocks it out of the park with this one.

The DeFi field is expanding, according to the DappRadar Q1 industry report, as the NFT and Metaverse markets gain traction and interest in blockchain gaming grows.


And the benefits of Decentralized Finance (DeFi) outweigh the risks posed by external causes.


Throughout the first quarter, Dapps together recorded over 2.38 million daily unique active wallets, and the DeFi TVL maintained its pace despite the variations.


The greatest winners this time were none other than NFTs, who earned more than $12 billion in transactions as a result of their acceptance outside of Ethereum.


Furthermore, the first quarter of 2022 was a banner year for blockchain gaming ventures. These Dapps were able to raise nearly $2.5 billion from venture capitalists and get the attention of investors.


But with every benefit comes a drawback, and the hacks are DeFi's biggest drawback. DeFi stands for decentralized finance, which means it is not reliant on anybody to keep it secure from direct access attacks or exploitation.


Those looking for a loophole, on the other hand, find a way to exploit a protocol, as DeFi protocols did in the first three months of 2022, losing over $1.2 billion.


Axie Infinity's Ronin Hack is responsible for around half of this damage, with exploiters taking over $615 million in the largest crypto assault ever. The Wormhole was the other big exploit, with $326 million taken.

However, it did not halt the growth of DeFi.

The total value locked (TVL) across all Decentralized Finance protocols and chains is now $214 billion, which, although significant, pales in contrast to the crypto space's $1.9 trillion market cap.


The fast developing GameFi market, which has piqued the eye of both users and investors, is now valued at over $28 billion and increasing, due to the advent of Metaverse and platforms like The Sandbox and Decentraland.


While a result, as DeFi is seen as the future of finance, these areas will see a lot more investment coming in in the future.