honda urged 2 kinds president to pull his troops out of the area and you're up to date coming up next. christy plaza has your business off. date is more bad news for those of you who are crypto cards, it's fall from that website d. w dot com, you can also check out our social media channels that you don't use. i'm jarrett great, thanks with a winning offer is available worldwide. and for every language level, learning german has never been simpler. german to go with

ah, ah, another crypto crisis, hip coin prices, crypto companies are cutting business with silver gate after the crypto under warned it's future is in jeopardy. what's it mean for digital currency as well? find out also on the show german chancellor, olaf schultz, is in the us, have a word with by about a massive package of green subsidies that could hurt investments in europe. and global leaders are pouring 1000000000 into saving, one of the biggest economies,

the world's oceans. expert gifts is the price tag. i'm christy, platinum, berlin, back with a another dw business show shares in silver gate. a major crypto currency lender have tumbled more than 50 percent after the bank warned of a possible claps. silver gates woes are the latest to be triggered by the bankruptcy of f. t x. a crypto exchange whose former seo is accused of fraud. after ex says, billions of funds are still on accounted for, and that includes money lent to be exchanged by silver gate. the california based bank has delayed its annual report and announced it would sell more of its assets in order to pay payback its debts. well let's get more on this from hands quarter on wall street yann's. good to see you break this down for us. what exactly is going on with silver gate and what does this mean for the crypto space? well, i mean, chrissy was a definitely tells us is somehow of volatile and also how interconnected to the

crypto market. it's sermon now, i'm silver gate term is sir, maybe even facing of a bankruptcy. i mean, it's not given yet, but that so stock used to be a $200.00 stock and now it's down to about $5.00 some a piece. um so it definitely is. so some alarming, a development clearly for a silver gate, but it also shows if wanting happens in the crypto market and other parts, not just of the crypto world, but other areas of the financial market. also it could be impacted. you could say, thankfully the traditional banking system is not so deeply intertwined to into the crypto world so that we're not facing anything like a financial, a collapse or, or anything even close at this point. okay, well, i'm glad to hear that. but looking at the crypto space, specifically, i'm getting quite used to announcing these little crises,

or i don't know if there's a little, i mean, what sort of shape is the crypto market in overall right now? it goes in and this is really been very interesting. if you think back in november of and f t x collapse the coins themselves. so the crypto currency of some cell, oddly reacted. i mean, we did see quite a fall out earlier last year. bitcoin, for example, about a year ago. so that around $40000.00 a piece and now it's down to about $20.00 to $23000.00. and in the past couple of months, besides all the scandals, all the fall out from f t x and the like says not effect that the coins in decrypted currency. it's so much, but now investors definitely get a bit more uneasy as the whisker latest that we, that we've seen. now bitcoin, for example, losing about 5 percent of the value of this friday, bitco and ether. so those 2 coins to get her to get their last the market share of

about 24000000000 dollars here shortly before the weekend alone. so definitely not really a good week and a day for their credit. their industry certainly not. that was the core to in new york. thank you. well, german chancellor, all i've shown is in washington, dc for a meeting with president joe biden. the war and ukraine top the leaders agenda. but schultz also wants a word about the inflation reduction act, which creates massive financial incentives for green business in the us. europe here is it will lower investment away from its own borders. and the sphere is not without reason. european firms say that they'll go where conditions are best at the company booklet. they're particularly proud of this machine, the laminator, which presses photovoltaic systems from various individual parts and dust, so particularly quickly, they can produce up to a $116.00 panels,

an hour buckler cells. these machines mostly to asia, but to the rest of europe to these and largest retail with this plant in particular, will stay in europe. but of course, future plans will increasingly go to the usa afterwards. partly, or even completely due to the program figures or homes. that's because the new $1000000000.00 subsidies in the us now make it particularly attractive to produce green technology there, including solar cells. robert geyser has already traveled there to make contacts and deliver his machines. as maxine balls has a mechanical engineer, you say fine, so the project will take place somewhere else. as long as you're involved somehow, ah, but when i see this personally as a european, these investments are needed in europe and have now been cancelled by investors and manufacturers and are being relocated to the usa when button in the was off a log of like him many entrepreneurs are hoping for, so la boom, in europe, seeing it as a technology of the future to help mitigate the climate crisis. time is of the

essence. we have no, not, we only have 20 to 30 years left. then there's no going back on the seo to issue. we have huge problems and in such a significant situation, we have to act. in other words, at the e u. subsidy so far are insufficient to attract investors to europe. meaning the continent is lagging hopelessly behind the year, where now quite late. europe's perhaps the last major industrial location in the world to get on board. so we can learn from what other countries are doing. what have they done well, to ramp up industry there to form it's hoped that could trigger a new boom and european green technology, which while that kaiser thinks will lead to more customers closer to home and secure jobs. you're broken all, we need customers in partners, especially in europe with whom we can work together to supply them the next generation of equipment and develop accordingly. by living,

he fears that without quickened and bureaucratic help, europe will once again become dependent on other countries for a key technology of the future. here's what else is happening in business today. folk sagen shares jumped more than 10 percent on friday. the german car maker unveiled and optimistic earning forecasts for this year as supply chain disruptions ease. it reported a net profit of $15800000000.00 euros for 2022 and that sales rose nearly 12 percent. nigeria, supreme court has ordered the central bank to extend the use of old niagara bank notes until the end of this year. the withdrawal of the old currency last month caused cash shortages, widespread hardship and anger. the replacement bank notes have been in short supply, making it difficult to pay cash for goods and services. business business and political leaders are pledging billions and aid to protect the world's oceans from pollution, over fishing,

and even mining the global to day. our ocean conference is being held in panama. the u. s. has already pledged $6000000000.00 towards dozens of projects, including green shipping corridors. the e. u has earmarked over 8800000000 euros towards research and monitoring. but many regions of the high seas fall outside of international jurisdiction. scientists say roughly half of the oxygen we breathe, comes from the ocean, making conservation crucial. or for a deeper dive into this ocean story, i'm joined now by hines. come out, he's written a book on the economic significance of the world's oceans. now hines, can we put a dollar value on our oceans? i mean, what are they actually worth in economic terms? yes, we can do. there are different ways of looking at it. if we leave biological side, for example, we can say that 90 percent of all goods are transported on the oceans. globalization would not exist without the oceans. and then we have well yours,

that cannot be expressed in monetary terms. you mentioned the oxygen, how to express the value of oxygen that the oceans produce. the oxygen of every 2nd breeze comes from great trust in the oceans that do photosynthesis, predominantly from bacteria. now you mentioned leaving aside biological aspects of the ocean. i mean, of course there were talking about ocean plants, about fishing. what is the economic value of those the, the biggest economic who l. u is the food supply, especially for the poorer countries. fisheries are worth about $85.00 bill young with the low, you and illegal fishing is additional for about $25000000.00 west or you know, maybe even $50000000000.00 that is fatal for stock or fish stocks, especially for expensive and therefore rare species. if you get $100000.00 us,

the law for atlantic roofing will not in japan of $50000.00 for way shark in china, we will always find some fishing them illegally. and this is really a big threat. tourism is also very big economic. fuck. so for example, in australia alone, 65000 people live off the crate for right now, i know that you've said that the coral reef is the most important economy in the ocean. why is that aside from tourism? yeah, there are different reasons um, the tropical coral reefs are really, really special about the 1000000000 people depend economically on functional reefs. this concerns the tourism industry, the food industry and even new medical agents. but the greatest value, however, as the coastal protection career protect, for example,

the cost of about $100.00 countries because they take about 97 percent of the energy from the waves. so by a lunches and made estimate the, well you of course, risk per year at about $375000000000.00 till 10 trillion to as follow. this is a really huge money in comparison up of 2022 profit was about 89000000000. whereas the loan, so that really pales in comparison, that was heinz claim our author an ocean expert. thank you for joining us. you're welcome. sticking with the ocean, if you have a few 1000000 euros to spare, what better way to get around than on your own? luxury super yacht from the do by boat show the soaring as she is known as a 68 meter long boat. a virtual mansion on the sea with luxury interior is worthy of any high class residence. and she can be yours for mir pocket change at just

$88000000.00. the super yacht is just one of many. on show until sunday, the global yacht market was worth around 9000000000 euros last year with the middle east, a key growth region. of course, wealthy individuals and rental companies were the biggest buyers. that's our show i'm christy plaids in berlin. thanks so much for watching with to the point. strong opinions, clear positions, international perspectives. the war in ukraine is becoming a clash of systems. western democracies are feeling challenged by autocracies, like russia and china, and they are all chording non aligned countries like india, and so on to the point we ask war and you create our new alliances, dividing the world to the point one next on d, w,

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to meet the founders, empowering their continent through digital innovation. the transformer, work in health and living conditions in their country, and inspiring the world with their ideas. valley africa. watching out on w documentary with the war and ukraine has global implications and is increasingly becoming a clash of systems. western democracies are feeling challenged by autocracies, like russia and china. both models want to prevail. so far china's piece plan for ukraine has found little favor in the west. instead, there are warnings from the us about possible arms deliveries from china to russia, and russia's ally, alexander lucas. shank will personally travel to china. both sides are unable to find an agreement and are according.