Market Update 02-08-24

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Happy Friday everyone! 👋

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We’re back with our weekly news recap, no vacation days here 📰

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Fact for the week 🤔:

🌍 The Olympics are the event of the month and have brought us memorable moments. From Gabriel Medina's viral photo, Simone Biles' performance or, more recently, the incredible viral photo of Turkey's silver medal shooter. If you haven't seen it yet, you can't miss it. 🥈🔫

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Onto this week’s updates 🚦

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🔴 Stocks Hit Hard 📉

What a day - and week - for traditional markets, mainly stocks. The week started with Bill Ackman - one of the world's renowned investors - failing to take public (IPO) his investment management firm due to lack of interest from investors… and today the US stock market is facing a strong wipe out due to growing fears of a global recession! Intel - the american giant chip maker - is down 30% today! Not a good moment for stocks. ⚠️
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🟡 Slovenia Tokenized Bond ⛓

Slovenia, a country with 2 million population, is making significant leaps in tokenization innovation. With the help of the banking giant BNP Paribas, the little Balkans country became the first European Union country to issue a sovereign tokenized bond in the total amount of €30 million. Tokenization of assets provides greater transparency and efficiency as we’ve been noting, and these were the reasons for the Slovenian government to adopt this technology. 👨💻
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🟢 Goldman Praises Tokenization 🏦

The world has definitely succumbed to the power and value of blockchain and tokenization. This time, Goldman Sachs CEO pointed out the efficiency gains from uses of blockchain technology in traditional finance, stating that the technology is “super interesting”. The CEO even mentioned the example that “typically, a bond sale takes about five days to settle. Ours [using tokenization] settled in 60 seconds.” 🤯�

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🎬 Today is a tough day for stock market investors, highlighting the importance of a diversified portfolio. That's why at Lympid we work to bring alternative investment assets to you 💰

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Find us at lympid.io ✅

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Lympid: Revolutionizing investments for everyone.
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