Bitget Wallet, a prominent Web3 non-custodial wallet, has recently made a significant move by partnering with tetadex, a decentralized futures trading platform tailored for new users. This alliance aims to revolutionize the on-chain trading experience and bring greater convenience and security to users.

Unlock the Potential of Decentralized Futures Trading with Bitget and tetadex

Integration for Seamless Trading

Bitget Wallet has deeply integrated tetadex within its app, providing users with a native decentralized futures trading experience. This integration simplifies the complex world of decentralized finance (DeFi), making it accessible even to those with limited technical knowledge. Users can now explore on-chain finance with ease and confidence, thanks to the seamless integration.With tetadex's advanced StarkEx technology, scalable and self-custodial trading is ensured, along with enhanced privacy and efficiency. The platform offers up to 50x leverage for amplified gains, allowing users to potentially maximize their returns.

Empowering New Users

tetadex is known for its simplicity and user-friendliness. It aims to empower new users by providing an intuitive platform that simplifies blockchain-based futures trading. The introduction of gamified features and reward systems by tetadex adds an extra layer of excitement to the trading experience, making it more engaging and enjoyable.Users can participate in tetadex's first public beta event in Bitget Wallet on November 29, allowing them to explore the new trading experience firsthand.

Commitment to Security and Accessibility

Bitget Wallet, serving over 40 million users globally, is committed to providing the most secure and accessible trading tools. This strategic integration with tetadex offers Bitget Wallet users a simple and safe way to engage with decentralized futures trading directly within the app.Alvin Kan, COO of Bitget Wallet, emphasized the significance of this partnership, stating, "This partnership with tetadex is a major step in expanding the on-chain trading experience for our users. By offering easy-to-use futures trading within the Bitget Wallet app, we are enabling more people to safely engage with decentralized finance. Our vision is to make DeFi accessible to everyone, and this integration aligns perfectly with that mission."The tetadex team also expressed their excitement, saying, "We are thrilled to bring our platform to Bitget Wallet's large user base. With this integration, we aim to continue simplifying blockchain finance, and the launch of gamified features will make the trading experience even more enjoyable."Bitget Wallet offers comprehensive on-chain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser, and an NFT marketplace. It supports various wallet options and is connected to over 100 blockchains, 20,000+ DApps, and 500,000+ tokens, enabling seamless multi-chain trading across hundreds of DEXs and cross-chain bridges. With a $300 million protection fund for digital assets, users can trade with peace of mind.For more information, visit: Twitter | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord. For media inquiries, please contact media.web3@bitget.com.For more information about tetadex, visit: Website | Twitter | Discord | Telegram. For media inquiries, please contact official@tetadex.com.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/64d8af02-9400-4139-bffd-7688dbb0133b.

The Central Bank of Russia has taken significant steps to combat the depreciation of the ruble. On November 27, it announced a halt to foreign currency purchases until the end of the year. This decision aims to bring stability to the currency, which has witnessed a significant decline since August, reaching its lowest levels against the US dollar in over two years.

Russia's Ruble Battle and Global Implications

Addressing the Ruble Depreciation

The Central Bank of Russia's move to halt foreign currency purchases is a strategic response to the ongoing depreciation of the ruble. Since August, the ruble has lost more than 24% of its value, highlighting the economic challenges faced by the country. Western sanctions and geopolitical tensions have exacerbated these issues, disrupting foreign trade flows and limiting Russia's ability to generate foreign exchange revenues. Additionally, rising military expenditures and constrained budgetary resources have led to inflationary pressures, prompting the central bank to raise its benchmark interest rate to 21% in October. Despite these efforts, the ruble's depreciation continues, reflecting both external challenges and domestic economic vulnerabilities. Analysts emphasize the need to address underlying structural issues in Russia's economy to achieve long-term stability.

Reducing Market Volatility

The suspension of foreign currency purchases is a tactical move by the central bank to reduce market volatility. By refraining from buying foreign exchange, the central bank aims to limit speculative activity and stabilize the ruble's value in the short term. Historically, such measures have had mixed results in emerging markets. While they can provide temporary relief, they do not address the root causes of economic weaknesses. In Russia's case, the reliance on energy revenues and the impact of sanctions create structural challenges that monetary policy alone cannot solve. The central bank must work closely with other government agencies to implement comprehensive economic reforms to ensure the long-term stability of the ruble.

Ripple Effects on Global Markets

Russia's financial turbulence has far-reaching implications for global markets, particularly in the energy and commodities sectors. As a major exporter of oil and gas, fluctuations in the ruble can influence pricing dynamics, adding complexity for firms reliant on stable commodity markets. Additionally, the broader instability in emerging market currencies triggered by geopolitical risks could lead to heightened volatility in global financial markets. Past episodes of regional currency crises have shown how quickly localized events can spill over into broader financial systems. Multinational corporations and financial institutions must closely monitor these developments and reassess their risk management strategies.

Managing Currency Risks

For multinational corporations and financial institutions, Russia's actions serve as a reminder of the challenges posed by currency volatility. While direct exposure to the ruble may be limited for some, the potential for knock-on effects, such as supply chain disruptions and shifts in global capital flows, remains a concern. Investors and corporate financial teams will need to closely monitor regulatory developments and reassess their hedging strategies. Proactive risk management and scenario planning become essential in an environment of uncertain ruble trajectories. By staying vigilant and adapting to changing market conditions, these entities can better navigate the risks associated with currency volatility.