Blockchain
Leading Blockchain Advisory and Development Company Move Digital Prioritizes Employee Satisfaction Above Short-Term Profit
Focusing on Employee Growth in the Blockchain Industry
Mahe, Seychelles–(Newsfile Corp. – May 10, 2022) – The COVID pandemic forced businesses worldwide to react to turbulent conditions. However, leading blockchain advisory and development company, Move Digital, has managed to not only weather the storm, but to grow from strength to strength. Since the start of the pandemic, Move Digital has grown from a team of roughly 40 employees to over 120.
“Creating an environment where employees can not only succeed but thrive is central to the way that Move Digital operates,” says Kristof Schöffling, CEO and founder of Move Digital.
The Asia-based advisory and development company puts a huge emphasis on ensuring the highest levels of satisfaction are reached for both customers and employees. Kristof Schöffling has implemented a “Growth and Leadership” framework to ensure that everyone is on a growth trajectory that will meet their personal and professional goals. For customers, this might mean reaching new revenue figures. For employees, it can be learning a new skill set or achieving a higher salary.
“In an industry overwhelmed with cutthroat entities, we are emphasizing employee satisfaction as a way to long-term success” – Kristof Schöffling, Move Digital Founder and CEO
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Move Digital is built on the premise that if its employees grow, the company itself will grow. To follow this ideology, the company offers a wide range of benefits to its employees including the ability to work remotely and in-house development programs which allows employees to expand or strengthen their skillset to ultimately be considered for executive positions.
When the pandemic hit, Move Digital continued to fully compensate all of its workforce and even managed to expand aggressively over the course of the pandemic due to the increased interest in blockchain technology over this time period. As a result, Move Digital employees not only kept their positions during an economically turbulent time, but many were even promoted to higher positions.
Schöffling has built a culture at Move Digital that prioritizes long-term success over short-term profits. Employee satisfaction is at the core of this culture, and it is certainly paying off within Move Digital. “We have always wanted Move Digital to be a company that employees are proud to be a part of and it is amazing to see this vision materializing,” commented Kristof Schöffling. “We will continue to put the wellbeing and success of our workforce at the forefront of how Move Digital operates.”
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Website: https://movedigital.com/
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Media Contact: Kristof Schöffling
Company: Move Digital Limited
Email: [email protected]
Website: https://movedigital.com/
Address: House of Francis, Room 303, Ile Du Port, Mahe, Seychelles
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/122811
Blockchain
Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI
Leading up to Friday’s Bitcoin (BTC) halving, investors opted to remain on the sidelines rather than increase their exposure to cryptocurrencies. CoinShares’ latest report on digital asset fund flows reveals that crypto funds experienced $206 million in outflows last week, while trading volumes for Exchange-Traded Products (ETPs) dropped to $18 billion.
James Butterfill, head of research at CoinShares, noted, “These volumes represent a lower percentage of total Bitcoin volumes (which continue to rise) at 28%, compared to 55% a month ago.” He attributed this decline in investor appetite to expectations that the Federal Reserve would maintain interest rates at elevated levels for a longer duration.
In terms of regional flows, the United States led the outflows with $244 million exiting incumbent ETFs by the week ending April 19. Butterfill highlighted that newly issued ETFs still received inflows, albeit at lower levels compared to previous weeks. Germany and Sweden saw outflows of $8.3 million and $6.7 million, respectively, while Canada experienced inflows of $29.9 million. Switzerland, Brazil, and Australia also witnessed inflows of $7.8 million, $5.5 million, and $2.2 million, respectively.
Butterfill observed that although Bitcoin saw outflows of $192 million, there were minimal flows into short-Bitcoin positions. Ethereum (ETH) experienced outflows of $34 million for the sixth consecutive week. However, multi-asset funds saw improved sentiment, attracting $8.6 million in inflows. Additionally, Litecoin (LTC) and Chainlink (LINK) received inflows of $3.2 million and $1.7 million, respectively.
The report highlighted that blockchain equities sustained their 11th consecutive week of outflows, totaling $9 million, as investors remained concerned about the halving’s impact on mining companies.
In a separate analysis of the post-halving crypto mining industry, CoinShares analysts suggested that many miners might transition to serving the artificial intelligence (AI) sector, which has become more lucrative. They anticipated a shift towards AI in energy-secure locations, potentially leading to Bitcoin mining operations relocating to stranded energy sites.
The analysts projected a 10% decline in the Bitcoin network’s hash rate after the halving as miners deactivate unprofitable ASICs. However, they expected the hash rate to reach 700 exahash (EH/s) by 2025. As of the current data, the Bitcoin hash rate stands at 596.22 EH/s.
The report also noted that substantial cost increases are anticipated due to the halving, with electricity and production costs nearly doubling. Mitigation strategies include optimizing energy costs, enhancing mining efficiency, and securing favorable hardware procurement terms. Miners are actively managing financial liabilities, with some utilizing excess cash to significantly reduce debt.
Source: kitco.com
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Blockchain
NYSE gauges interest in 24/7 stock trading like crypto
According to reports, the New York Stock Exchange (NYSE) is exploring the possibility of introducing round-the-clock trading, a model akin to that of cryptocurrency markets. In a bid to gauge market sentiment, NYSE’s data analytics team has circulated a survey among market participants. The survey seeks feedback on whether there is support for 24/7 or extended weekday trading hours and, if so, what measures should be implemented to safeguard traders against overnight price fluctuations. As of now, NYSE, alongside Nasdaq and the Chicago Board Options Exchange, operates from Monday to Friday, spanning from 9:30 am to 4:00 pm Eastern Time.
In the United States, assets like cryptocurrencies, United States Treasurys, foreign exchange, and major stock index futures are already tradable 24/7. Certain brokerages, such as Robinhood and Interactive Brokers, provide access to U.S. stocks throughout the week via a “dark pool” trading venue, catering to international retail investors during their local trading hours.
However, recent reports indicated that Robinhood suspended its 24-hour trading services amidst heightened tensions between Israel and Iran, prompting concerns among investors regarding the sustainability of continuous trading.
Effectively managing liquidity in a 24/7 trading environment has proven challenging for trading platforms within the cryptocurrency industry.
According to cryptocurrency research firm Kaiko, there’s often a mismatch between the operating hours of traditional financial institutions and the needs of major crypto traders and market makers. Traders frequently find themselves losing sleep during periods of extreme market volatility.
While the results of NYSE’s survey haven’t been revealed, Tom Hearden, a senior trader at Skylands Capital, conducted his own poll among his 19,300 followers, asking if they would support NYSE transitioning to 24/7 trading hours. Interestingly, over 70% of the 1,459 respondents voted “No.”
NYSE’s survey coincides with the efforts of startup firm 24X National Exchange, which is seeking approval from the Securities and Exchange Commission (SEC) to launch the first exchange in the country operating round-the-clock.
The FT said, citing two persons familiar with the subject, that the SEC has “months” to study the proposed rule change, and other relevant issues, such who should shoulder expenses and the function of clearing houses, are already being considered by other stakeholders.
“How loud they will be playing in the middle of the night is unknown to me. However, the decision of whether something is commercially feasible or not actually shouldn’t be made by the SEC, James Angel, a Georgetown University finance professor, told FT.
“I support letting the market make the decision. We’re all better off if it succeeds, and the exchange’s stockholders lose out if it fails.
After the company withdrew an application in March 2023, alleging operational and technological concerns, it is the second attempt to receive SEC clearance.
Source: cointelegraph.com
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