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<ul><li>CryptoSend, a startup in <keyword id="6355478" type="UNKNOWN" weightage="20" keywordseo="australia">Australia</keyword>, has teamed up with global payments and card issuing company <keyword id="6359421" type="UNKNOWN" weightage="20" keywordseo="visa">VISA</keyword> to create physical crypto <keyword id="6354770" type="UNKNOWN" weightage="20" keywordseo="debit-cards">debit cards</keyword>.</li><li>The physical debit card will let users spend their earned <keyword id="6357017" type="DEFINITION" weightage="20" keywordseo="cryptocurrency">cryptocurrency</keyword> in nearby shops, bars, and more.</li><li>The development comes amid the Australian government mulling over new laws to regulate the crypto industry.</li><li>VISA’s approval of CryptoSend indirectly hints that the system can be trusted. The former has strict money laundering protocols to curb illegal transactions.</li><li>The supported cryptocurrencies on CryptoSend’s debit card include Bitcoin, Ether, XRP, Bitcoin Cash and Litecoin.</li></ul>While the rest of Asia Pacific is busy trying to regulate cryptocurrencies the best way that they know how, Australia is already on the road to coming up with new use cases even though volatility is still a concern. CryptoSend, a startup created by two students from the University of Technology in Sydney, has<a href="https://www.afr.com/companies/financial-services/visa-to-issue-first-australian-card-for-spending-bitcoin-20210714-p589i1"> teamed up</a> with global payments and card issuing company VISA. They intend to launch a physical debit card that'll let users spend their earned <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrency</a> in nearby shops, bars, and more. Instead of converting cryptocurrency to fiat before every spend, the card will directly enable real-time settlement, enabling a direct purchase experience for the user. <div type="ExtQuote" text="We have customers that range from 18-year-old students to 70-year-old grandmothers… [This] further emphasises the growing appetite for people of all ages to use crypto as an everyday currency." auname="Richard Voice, co-founder and COO of CryptoSpend, said in a statement"></div> Australians have not been immune to the hype around cryptocurrencies during the pandemic. According to a report by the investor education app Finder, cited by <a href="https://www.theaustralian.com.au/breaking-news/cryptocurrency-rising-in-australia-but-risk-remains-biggest-deterrent/news-story/1adb60ca30da69fffdd68bc3acf82cc3">The Australian</a>, every one in six Australian owns some sort of cryptocurrency as of June. Cryptocurrencies have been legal in Australia since 2017 and are also subject to taxation. However, as a result of recent developments, the government has floated a new proposal looking for feedback on setting up good market practices of financial instruments, which expose investors to cryptocurrency-backed assets. Even so, unlike its Asia Pacific peers like China and India, the country’s central bank has no plans to release a central bank digital currency (CBDC) for retail customers. <cmsannotation type="cmsannotation" annotationid="Partnering with VISA is a game-changer" comment="subhead" text="Partnering with VISA is a game-changer">Partnering with VISA is a game-changer</cmsannotation> Payments processing company Novatti, listed on the Australian Securities Exchange, shall issue the card, and New York-licensed custodian BitGo shall take care of the crypto holdings. The supported cryptocurrencies on CryptoSend’s debit card include <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">Bitcoin</a>, Ether, XRP, Bitcoin Cash and Litecoin. The bigger accomplishment for the startup, however, is VISA’s participation. In addition to the vast number of potential users it brings to the table, the payments company has stringent security protocols and anti-money laundering requirements. VISA’s approval of CryptoSend indirectly hints that the system can be trusted, unlike the plethora of scams and alleged startups that try to disrupt an already disrupted industry. Although it's worth noting that VISA has previously issued such cards for crypto exchanges like Binance but they're not available in Australia. "The merchants don't have to change anything. It will be the same as any other VISA transaction to them. But on the backend, the crypto assets are instantly converted into fiat," Cuy Sheffield, head of cryptocurrency at VISA, told <a href="https://www.businessinsider.in/cryptocurrency/news/visa-is-partnering-with-over-50-crypto-companies-to-allow-clients-to-spend-and-convert-digital-currencies/articleshow/84203557.cms">Business Insider</a> in an interaction earlier this month. The company also <a href="https://usa.visa.com/visa-everywhere/blog/bdp/2021/07/06/crypto-linked-cards-see-1625612645562.html">revealed</a> that over $1 billion had been spent on crypto-linked VISA cards in the first half of 2021. <cmsannotation type="cmsannotation" annotationid="Why are crypto debit cards a big deal?" comment="subhead" text="Why are crypto debit cards a big deal?">Why are crypto debit cards a big deal?</cmsannotation> Debit cards have revolutionised the payments industry and, despite being decades old, are a critical part of the global banking infrastructure. The card is a crucial method of cash replacement, further enabling digital transactions smoothly. However, they are usually dependent on a fiat currency like the dollar. CryptoSend aims to change that foundational block by allowing users to access cryptocurrencies using debit cards. Not only is that convenient for enthusiasts, but it’s also a way to have a familiar way to conduct transactions for those who are new to the space. Coinbase has a similar system in place, where users can link debit cards issued by the company to make retail transactions by linking the card to Apple Pay or Google Pay. But, Coinbase’s 56 million users <a href="https://www.fool.com/the-ascent/buying-stocks/articles/coinbase-reaches-56-million-users-should-you-open-an-account/">pale</a> in comparison to Visa’s reach of billions. <cmsannotation type="cmsannotation" annotationid="Australia has been ahead of the curve when it comes to regulating cryptocurrencies" comment="subhead" text="Australia has been ahead of the curve when it comes to regulating cryptocurrencies">Australia has been ahead of the curve when it comes to regulating cryptocurrencies</cmsannotation> While other countries are still mulling over how to regulate the crypto market, Australia declared crypto exchanges are legal and covered by Anti-Money Laundering and Counter-Terrorism Financing Act, 2006 nearly half a decade ago. Since 2017, exchanges have had to register with the Australian Transaction Reports and Analysis Centre (AUSTRAC) in order to operate locally. A cryptocurrency asset is treated like a fixed asset — akin to a house — in the country and hence, capital gain taxes are applicable. A few weeks ago, Australia's securities regulator <a href="https://www.reuters.com/business/australian-regulator-seeks-feedback-managing-risky-crypto-assets-2021-06-30/">said</a> it would consult stakeholders on proposals to identify appropriate crypto assets and set up good market practices for financial instruments. Considering these assets as a new financial instrument could help the country adopt blockchain as a technology for self-growth. The authorities are considering opening up their financial sandbox to include cryptocurrencies and other blockchain-based projects. According to an October 2018 report by Deloitte, "The benefits of going through the Financial Conduct Authority (FCA) sandbox vary.” It states that participation in the sandbox breaks the myth of regulation being a barrier to innovation. “On the contrary, it has shown that regulators can play an active and positive role in encouraging innovation by giving unique business models 'permission to play' in a highly competitive financial services sector," the report explains. The Australian regulator will issue a feedback report and publish information on good practices following consultation. The idea of a Bitcoin-based card is just picking up, and VISA is certain about the future despite the nascent nature of the industry. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/one-of-canadas-largest-bitcoin-mining-farms-sees-a-50-jump-in-production/articleshow/84437300.cms">Canadian crypto mining company is eyeing Bitcoin worth ₹96.6 crore this month after China’s crypto crackdown</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/wazirx-coindcx-and-coinswitch-kubers-advertising-roll-has-hit-a-roadblock-in-india/articleshow/84432645.cms">WazirX, CoinDCX and CoinSwitch Kuber have been asked to add ‘standardised disclaimers’ to their ads on television</a>

VISA crypto debit cards are coming to Australia amid regulatory uncertainty

<ul class="summary-list"><li><keyword id="11912689" type="UNKNOWN" weightage="60" keywordseo="visa" source="Orion">Visa</keyword> is testing a platform in partnership with <keyword id="12948494" type="UNKNOWN" weightage="60" keywordseo="consensys" source="Orion">ConsenSys</keyword> that aims to support <keyword id="10038048" type="UNKNOWN" weightage="60" keywordseo="central-bank-digital-currencies" source="Orion">central bank digital currencies</keyword>.</li><li>The new technology is designed provide an "on-ramp for <keyword id="6791630" type="UNKNOWN" weightage="60" keywordseo="cbdc" source="Orion">CBDC</keyword> to existing payment networks," Visa said.</li><li>Payment rival Mastercard already launched a similar CBDC testing platform with ConsenSys.</li></ul><a href="https://markets.businessinsider.com/searchresults?_search=v">Visa</a> is testing a platform in partnership with blockchain firm ConsenSys that aims to support central bank digital currencies.The new technology aims to provide an "on-ramp for CBDC to existing payment networks," Catherine Gu, Visa's head of CBDC, said in a <a href="https://usa.visa.com/visa-everywhere/blog/bdp/2022/01/13/envisioning-a-future-1642034573970.html">statement</a> Thursday.This means banks and companies can plug into their existing modules and seamlessly integrate their infrastructure to issue CBDC-linked payment cards or wallet credentials, among others, she explained."We envision a user experience that looks very familiar to how you pay today," Gu said. "If CBDC networks are seamlessly integrated into your existing banking app, you'd be able to use your CBDC-linked <keyword id="12554739" type="UNKNOWN" weightage="60" keywordseo="visa-card" source="Orion">Visa card</keyword> at the checkout."A CBDC is a type of central bank liability — similar to the US dollar — issued in digital form, which could be used by the general public. Visa, which is accepted by around 80 million merchant locations worldwide, could help bridge the gap between central banks and financial institutions if it's platform is successful.Rival <a href="https://markets.businessinsider.com/searchresults?_search=ma">Mastercard</a> already launched a similar CBDC testing platform in <a href="https://consensys.net/blog/press-release/consensys-launches-consensys-rollups-with-the-support-of-mastercard-fostering-innovation-and-scalability-on-the-ethereum-mainnet-for-private-and-permissioned-blockchains/">December 2020</a> also in partnership with ConsenSys, which is the leading ethereum software companies.For its part, ConsenSys has been working with several central banks to test CBDCs, including <a href="https://consensys.net/blog/press-release/consensys-selected-by-hong-kong-monetary-authority-for-phase-two-of-project-inthanon-lionrock/">Hong Kong's</a> and <a href="https://consensys.net/blog/press-release/reserve-bank-of-australia-partners-with-commonwealth-bank-national-australia-bank-consensys-perpetual-on-wholesale-cbdc-project/">Australia's</a>."CBDC could expand access to financial services and make government disbursements more efficient, targeted, and secure – that's an attractive proposition for policymakers," Visa's Gu added. "With CBDC, a central authority could send fast payments to a targeted set of users and program-specific spending parameters."Still, CBDCs do not come without controversy. Rep. Tom Emmer, R-Minn., on <a href="https://emmer.house.gov/2022/1/emmer-introduces-legislation-to-prevent-unilateral-fed-control-of-a-u-s-digital-currency" target="_blank" rel="noopener">Wednesday</a> <a href="https://markets.businessinsider.com/news/currencies/bill-cbdc-tom-emmer-fed-digital-currency-crypto-retail-investors-2022-1">introduced a bill</a> that would ban the <keyword id="11895523" type="UNKNOWN" weightage="60" keywordseo="federal-reserve" source="Orion">Federal Reserve</keyword> from issuing a CBDC directly to retail investors.A centralized digital currency that would require Americans to register accounts with the Fed would put the central bank "on an insidious path akin to China's digital authoritarianism," he said.It is uncertain whether the Fed will issue a digital currency, but clarity may be ahead as the central bank prepares to release a much-anticipated CBDC report soon.Fed Chair Jerome Powell on <a href="https://markets.businessinsider.com/news/currencies/cryptos-fed-cbdc-digital-coin-central-bank-coexist-powell-toomey-2022-1?utm_medium=ingest&amp;utm_source=markets" target="_blank" rel="noopener">Tuesday</a> said cryptos — including stablecoins — would be able to coexist with a CBDC, walking back from his <a href="https://markets.businessinsider.com/news/currencies/jerome-powell-cryptocurrencies-cbdc-stablecoins-digital-currency-testimony-2021-7?utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets" target="_blank" rel="noopener">July statement</a> when he said there was no need for cryptos if the central bank were to issue its own CBDC.For now, 87 countries are exploring their own CBDCs, and 14, including major economies like China and South Korea, are already in the pilot stage, according to a tracker by the <a href="https://www.atlanticcouncil.org/cbdctracker/" target="_blank" rel="noopener">Atlantic Council</a>. Nine have already fully launched them.

Visa is testing a platform that will support central bank digital currencies in partnership with blockchain firm ConsenSys

<ul><li>Bishijie, a Chinese <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrency</a> community and information provider, has shut services within Mainland China.</li><li>The company is also called '<keyword id="11653824" type="UNKNOWN" weightage="20" keywordseo="coin-world">Coin World</keyword>' and said it's actively cooperating with regulators and taking corrective measures.</li><li>The last few years were great for the <keyword id="2721952" type="PERSON" weightage="20" keywordseo="crypto">crypto</keyword> mining community in China, but the May crackdown changed everything.</li><li>Now, there are no easily accessible crypto exchanges for the average Chinese citizen.</li></ul>China’s crackdown on <keyword id="6357017" type="DEFINITION" weightage="20" keywordseo="cryptocurrency">cryptocurrency</keyword> is widening its reach and is now knocking on the doors of anyone who even dares to talk about digital assets. Bishijie, a Chinese <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrency</a> community and information provider, announced that it’s closing down all its news portals and apps as of July 14. <div type="ExtQuote" text="The Biworld APP and website will cease operations in China with immediate effect." auname="Statement by Bishijie"></div> Also called Coin World, the site was most well known for providing news, social network services, and trading information to Chinese users. In a <a href="https://bishijie.com/kuaixun/1001138.html">statement</a>, the company said that it is actively cooperating with regulators and taking corrective measures. The site is no longer presenting any fresh updates, and the company has not indicated when it will be operational again. <div type="twitter" handle="Sino_Market" handlename="CN Wire" image="http://pbs.twimg.com/profile_images/1328240753353523200/XYefJVjh_normal.jpg" favoritecount="3" retweetcount="0" status="Jiemian says Chinese #bitcoin and #cryptocurrency news platform https://t.co/Ws7q7WXUq5 would halt operation of app… https://t.co/6NVuuOe5hf" createdat="1626337118000" id="1415586591976824833"></div> Bishijie did not specify why it was shutting down altogether, but Coin World was already being investigated by the authorities for illegal token issuance in 2019, according to <a href="https://baijiahao.baidu.com/s?id=1633016195273588895&amp;wfr=spider&amp;for=pc">local media</a>. China made it very clear early on that it isn't a fan of decentralised currencies and vowed to take action against the rising trend. The last few years were great for the crypto mining community as they could leverage affordable energy to dig out tomorrow's gold. But the party came to an end in May, when provincial governments were tasked with a <a href="https://www.businessinsider.in/cryptocurrency/news/chinas-inner-mongolia-region-proposed-punishments-for-companies-and-individuals-involved-in-crypto-mining/articleshow/83034373.cms">massive crackdown</a> that spared nobody. <a href="https://www.businessinsider.in/cryptocurrency/news/why-bitcoin-mining-will-be-easier-with-drop-in-hash-rate-amid-china-crypto-crackdown/articleshow/83810948.cms">Bitcoin's hash rate</a> reached a record low within no time, and all businesses based out of China either shut shop or moved out. Now, there are no easily accessible <a href="https://www.businessinsider.in/cryptocurrency/news/chinas-oldest-crypto-exchange-exits-cryptocurrency-business-amid-government-crackdown-on-bitcoin-mining/articleshow/83953113.cms">crypto exchanges</a> for the average Chinese citizen. While there are turnarounds, they're riskier and could attract attention from authorities, directly hindering crypto adoption. After shutting down the <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">crypto exchanges</a>, it's now going after media sites that host a lot of content about crypto. "Whether involved in the direct trading of cryptocurrency or providing relevant information services, they are within the scope of the government's crackdown, mainly for the concerns that cryptocurrency will cause systemic risks," said Chen Bo, Director of the Digital Finance Research Center at the Central University of Finance and Economics, Beijing in a <a href="https://www.globaltimes.cn/page/202107/1228820.shtml">Global Times</a> article. The Global Times is a mouthpiece of the Chinese Communist Party (CCP). Further, it adds that Bishijie was listed as an abnormal business by the Market Supervision Administration in Beijing because its contact wasn't possible via its registered address. <h2 style="line-height:1.38;margin-top:0pt;margin-bottom:0pt;"><cmsannotation type="cmsannotation" annotationid="China's crackdown is decisive, and there's no going back." comment="subhead" text="China's crackdown is decisive, and there's no going back.">China's crackdown is decisive, and there's no going back.</cmsannotation></h2> The authorities have made up their mind about cryptocurrencies, and there's no going back. But it doesn't mean they've abandoned the technology altogether. China is piloting CBDC (central bank digital currency) instead of a decentralised system to ensure it's not left behind in the technological race. It has already released e-yuan, a digital representation of physical yuan that has been in the works since 2014. The People's Bank of China (PBOC) has spearheaded the project, and real-world trials are <a href="https://www.businessinsider.in/cryptocurrency/news/every-country-wants-a-piece-of-cryptocurrency-but-how-is-it-benefiting-them/slidelist/83535636.cms#slideid=83536651">currently underway</a>. While a nationwide roll-out is still pending, testing is underway in Beijing, Chengdu, Shenzhen, Suzhou, and more. It involves the local government handing out a certain amount of yuan via a lottery. Users usually have to download a separate app to receive the currency. The system is officially called Digital Currency Electronic Payment (DCEP). Private companies like Alipay and WeChat dominate the current payments landscape in China. The government isn't comfortable giving critical data access to corporates and intends to control and administer the payments industry directly. Unlike cryptocurrencies, China's CBDC solution is closely monitored by a central authority, and the primary motive is to phase out coins and notes. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/visa-crypto-debit-cards-are-coming-to-australia-where-the-government-is-mulling-over-new-crypto-laws/articleshow/84441699.cms">VISA crypto debit cards are coming to Australia amid regulatory uncertainty</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/one-of-canadas-largest-bitcoin-mining-farms-sees-a-50-jump-in-production/articleshow/84437300.cms">Canadian crypto mining company is eyeing Bitcoin worth ₹96.6 crore this month after China’s crypto crackdown</a>

After closing down exchanges and other related businesses, China is going after crypto community forums like Coin World

Starting July 23, fans of electronic dance music festival '<keyword id="6404681" type="ENTERTAINMENT" weightage="20" keywordseo="Sunburn">Sunburn</keyword>' and EDM at large, can bid for non fungible tokens (NFTs) by the festival, offered as part of an association with <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" data-type="tilCustomLink">WazirX</a> Marketplace. Since the pandemic, <keyword id="4668945" type="PERSON" weightage="20" keywordseo="nft">NFT</keyword>s have been all the rage in the electronic music community, providing a new outlet with several benefits of digital ownership. Empowering individual artists and taking a step towards revolutionizing the music industry at large, the interest in NFT marketplace has exploded tremendously. At par with their global counterparts, there has been a rising interest in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> towards unique digital collectibles, creating an artistic community of creators and collectors via NFT. In a recent survey done by Sunburn among its social media community, 49 per cent of their fanbase expressed their interest to invest in NFTs and are keen to learn more about their upcoming NFT launches. The Sunburn NFTs drop will begin with a round of open editions designed around music and art. NFT collectors can purchase Sunburn NFTs on <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" data-type="tilCustomLink">WazirX</a> Marketplace with the help of their native <keyword id="4090915" type="PERSON" weightage="20" keywordseo="WRX">WRX</keyword> tokens, said the two in a joint statement. According to the organisers, the first of Sunburn NFTs on WazirX NFT marketplace will include an extensive lineup of artists and spectacular stage images of the Sunburn festival/Goa over the years and the visual arts of <keyword id="11653206" type="UNKNOWN" weightage="20" keywordseo="sunburn-ball">Sunburn Ball</keyword>. "NFTs are revolutionizing the music industry by creating new possibilities and experiences for both artists and collectors. Prior to the pandemic, artists relied heavily on touring to break even, but with live music continuing to face an uncertain future, the potential of NFTs hold a huge appeal. As the <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" data-type="tilCustomLink">NFT</a> community grows, we have understood the landscape better, especially when it comes to music, art and culture. Thus, partnering with Asia's biggest music festival is a step to showcase the unique creations by these independent artists while also reaching out to a wider target audience of music aficionados," says Vishakha Singh, <keyword id="45171" type="POSITION" weightage="20" keywordseo="VP">VP</keyword>, WazirX NFT Marketplace. As per Karan Singh, Chief Operating Officer, Percept Live, "The music industry is in a rapid state of flux and evolution. We see NFTs and digitization of our business as a giant leap forward and a mainstay to engage with our new age fans." NFTs allow artists to cut out expenses and risks that result from intermediaries and save time by selling directly to their fan base, thus increasing the popularity of crypto-collectibles exponentially. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/visa-crypto-debit-cards-are-coming-to-australia-where-the-government-is-mulling-over-new-crypto-laws/articleshow/84441699.cms">VISA crypto debit cards are coming to Australia amid regulatory uncertainty</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/one-of-canadas-largest-bitcoin-mining-farms-sees-a-50-jump-in-production/articleshow/84437300.cms">Canadian crypto mining company is eyeing Bitcoin worth ₹96.6 crore this month after China’s crypto crackdown</a>

Asia's largest music festival is launching music and art NFTs on July 23

Chip maker <keyword id="6369515" type="DEFINITION" weightage="20" keywordseo="MediaTek">MediaTek</keyword> on Thursday launched two new chipsets in the Helio G series - Helio G96 and Helio G88 <keyword id="1482050" type="PERSON" weightage="20" keywordseo="SoCs">SoCs</keyword> - for smartphone brands to provide smooth displays, intuitive OS experiences and elite photography features. The company said that these system-on-chips (SoCs) will give device makers the ability to provide powerful smartphone features with cutting-edge display and photography capabilities to bring intelligent mobile experiences to every customer. "With the launch of the Helio G96 and Helio G88, MediaTek advances its position as the leading mobile chip innovator, delivering new SoCs to boost display and photography experiences for the mainstream market," <keyword id="11648404" type="UNKNOWN" weightage="20" keywordseo="mediatek-wireless-business-group">MediaTek Wireless Business Group</keyword>'s Deputy General Manager, <keyword id="11648403" type="UNKNOWN" weightage="20" keywordseo="wireless-communication-products">Wireless Communication Products</keyword>, C.H. Chen, said in a statement. "MediaTek is continually advancing chip performance, speed and reliability. These new Helio G series chips are at the core of incredible mobile experiences," Chen added. The MediaTek Helio G96 SoC ensures premium everyday user experiences with its support for 120Hz displays with up to FullHD+ resolution for notably smoother scrolling of webpages and animations in apps. Combined with support for up to 108MP cameras for the most detailed images, fast Cat-13 4G LTE WorldMode modem integration, dual 4G SIM and VoLTE and ViLTE services, as well as its Intelligent Resource Management Engine and Networking Engine, MediaTek's Helio G96 brings an impressive breadth of features and capabilities to 4G smartphones. The <keyword id="11647381" type="UNKNOWN" weightage="20" keywordseo="mediatek-helio-g88-soc">MediaTek Helio G88 SoC</keyword> supports fast 90Hz displays to create super smooth mobile app and operating system (OS) capabilities. Its octa-core CPU features two Arm Cortex-A75 CPUs operating at up to 2.0GHz, enabling responsive reactions, fast app loading and camera captures. It builds on generations of photographic excellence with support for up to 64MP main cameras, a hardware depth engine for dual-camera bokeh captures, a Camera Control Unit (CCU) and Electronic Image Stabilisation (EIS) and Rolling Shutter Compensation (<keyword id="48947" type="ORGANIZATION" weightage="20" keywordseo="RSC">RSC</keyword>) technologies. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/visa-crypto-debit-cards-are-coming-to-australia-where-the-government-is-mulling-over-new-crypto-laws/articleshow/84441699.cms">VISA crypto debit cards are coming to Australia amid regulatory uncertainty</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/ola-electric-scooter-pre-bookings-start-july-15-at-499/articleshow/84441621.cms">Ola Electric kickstarts pre-bookings of its first electric scooter at ₹499</a>

MediaTek unveils two new chipsets for premium smartphones

<ul class="summary-list"><li>Hong Kong's latest residency program has drawn applicants largely from Guinea-Bissau and Vanuatu.</li><li>Vanuatu's cash-for-residency program has been the subject of international scrutiny.</li></ul>Hong Kong's latest sales pitch involves a cash-for-residency program targeted at wealthy investors — and most of them come from just two countries.The plan, which began in March, offers two-year visas in exchange for an investment of 30 million Hong Kong dollars, about $3.8 million, into the city. Investors can extend their visas and eventually apply for permanent residency. It builds on prior investment-for-residency programs offered in the last two decades, which aim to capture foreign capital and talent to boost Hong Kong's economy.This version attracted over 250 applicants in March through May, per <a target="_blank" href="https://www.info.gov.hk/gia/general/202406/12/P2024061200327.htm">government data</a> from last month. Nearly 80% of the applicants come from just two countries: Vanuatu and Guinea-Bissau. The countries have long attracted mainland Chinese looking for other residency options, including government officials — a<a target="_blank" href="https://www.reuters.com/article/idUSBREA0Q04S/"> pattern highlighted by Reuters in 2014</a>.Few people buy citizenship in Vanuatu or Guinea-Bissau with the intent to move to the countries or even step foot there. Permanent residency instead marks a stepping stone to Hong Kong's residency scheme, which prohibits mainland Chinese residents.Vanuatu, a Pacific nation, has a similar immigration program to Hong Kong. The country markets itself as a "business-friendly, tax-free destination" that issues passports to wealthy individuals for an <a target="_blank" href="https://www.vanuatupassport.vu/vanuatu-citizenship-program/">investment of $130,000 into the country.</a>A 2021 report from <a target="_blank" href="https://www.theguardian.com/world/2021/jul/15/citizenship-for-sale-fugitives-politicians-and-disgraced-businesspeople-buying-vanuatu-passports">The Guardian</a> identified several controversial figures who gained citizenship through this program, including two founders of Africyrpt, the crypto investment app, who <a target="_blank" href="https://markets.businessinsider.com/currencies/news/south-african-brothers-billions-bitcoin-disapper-crypto-heist-2021-6-1030548585">disappeared in 2021</a> along with <a target="_blank" href="https://markets.businessinsider.com/news/cryptocurrencies/south-africa-bitcoin-suspected-scam-africrypt-regulator-powerless-crypto-unregulated-2021-6">billions of dollars in bitcoin</a>, and Hayyam Garipoglu, who was imprisoned for embezzlement in Turkey.Vanuatu, a small country of about 350,000 people with few natural resources, relies on residency sales to buoy its economy. Selling citizenships accounted for <a target="_blank" href="https://markets.businessinsider.com/news/stocks/the-government-of-the-republic-of-vanuatu-announce-major-changes-to-their-citizenship-by-investment-programme-1031102198">nearly 50% of the country's revenue, the government said in 2022</a>. Vanuatu citizens can travel to the UK and the European Union, among other destinations, without visas.While Vanuatu pledged in 2022 to <a target="_blank" href="https://markets.businessinsider.com/news/stocks/the-government-of-the-republic-of-vanuatu-announce-major-changes-to-their-citizenship-by-investment-programme-1031102198">improve due diligence checks</a> to ensure the legitimacy of potential investors, the nation granted citizenship to multimillionaire Andrew Spira, who had been convicted of using a false passport and drug charges in Australia in 2023, according to a November <a target="_blank" href="https://www.abc.net.au/news/2023-11-17/andrew-spira-pleads-guilty-fraud-and-drugs-charges-darwin-court/103118198">report from the Australian Broadcasting Corporation</a>.Passports from the West African country of Guinea-Bissau have also become somewhat of a hot topic on the Chinese social media platform Xiaohongshu. Dozens of posts viewed by Business Insider promoted the nation's passports, shown to be worth 150,000 to 200,000 yuan, or about $21,000 to $27,000. The posts, which have been viewed over 600,000 times, highlight that the passports qualify for Hong Kong's residency program.<div type="image" title="Screenshot from Xiaohongshu promoting the purchase of Guinea-Bissau passports" height="810" width="642" msid="111656140" hostid="261" sizebytes="29286"></div>Guinea-Bissau has no known programs offering citizenships in exchange for investments. The West African nation's citizens currently make up the highest proportion of applicants for Hong Kong's New Capital Investment Entrant Scheme — 139 out of 333 applicants, per <a target="_blank" href="https://gia.info.gov.hk/general/202406/12/P2024061200327_460942_1_1718177384937.pdf">government data</a>.Hong Kong's latest attempt to woo investors comes just as a <a target="_blank" href="https://www.henleyglobal.com/publications/wealthiest-cities-2024">report by Henley and Partners</a> shows that the city lost 4% of its millionaires from 2013 to 2023.The city has tried cash-for-residency programs before. Its last attempt was suspended in 2015. According to <a target="_blank" href="https://www.bloomberg.com/news/articles/2015-01-14/hong-kong-suspends-immigration-program-for-wealthy-investors">Bloomberg at the time</a>, that program brought in over 24,000 new residents, almost 90% of whom were Chinese nationals.

Rich people can buy their way into Hong Kong residency, and the majority of applicants come from 2 tiny countries

I want a free vacation, buds. I'm Diamond Naga Siu, and I'm excited about a bunch of compensated travel opportunities coming up. <a href="https://www.cnbc.com/2023/03/06/taiwan-pay-tourists-to-travel.html" target="_blank" rel="noopener">Taiwan is paying tourists' expenses.</a> A northern region of Italy is <a href="https://www.cnn.com/travel/article/friuli-venezia-giulia-free-train-travel/index.html" target="_blank" rel="noopener">paying people to visit.</a>And now, Finland — recently named the world's happiest country — is <a href="https://www.businessinsider.com/finland-happy-free-trip-teach-happiness-travel-2023-3">covering all travel and accommodation expenses for ten lucky visitors.</a> The all-expenses-paid trip comes with a "Masterclass of Happiness," which will take place over four days at a luxury retreat in the country's Lake District.Before I prepare a TikTok proving that I "may secretly be a Finn" — <a href="https://www.instagram.com/p/CpzSgpZt627/?hl=en" target="_blank" rel="noopener">per their application guidelines</a> — let's dive into today's tech.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-in-tech">sign up here</a>. Download Insider's app <a href="https://link.insider.com/click/27645591.160803/aHR0cHM6Ly93d3cuaW5zaWRlci5jb20vYXBwP25yX2VtYWlsX3JlZmVyZXI9MSZ1dG1fc291cmNlPVNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9T3BlbmluZ19iZWxs/62667762063d6b9bef0cffb3Bf9c9aa56" target="_blank" rel="noopener">here.</a><a href="https://www.businessinsider.com/america-immigration-needs-reform-losing-workers-2023-3"></a>1. The US is losing tech workers to other countries. Its immigration system, considered by some to be nightmarish and outdated, could be a ticking time bomb for tech. And the layoffs sweeping the industry demonstrated how vulnerable visa-holding workers are. Many needed to find a new job in 60 days or risk deportation.<ul><li>Canada, the United Kingdom, Australia, Japan, Singapore — the list of countries making moves to win over immigrants is pretty long. And so, many tech workers are opting to move and work there instead of the US.</li><li>America's loss, however, is other countries' gain. <a href="https://www.businessinsider.com/us-tech-firms-offshoring-immigration-labor-shortage-issues-remote-work-2023-3">Jobs are moving away already.</a> Plus, many of these countries are making their immigration systems easier for tech workers. So the US needs to move fast or it risks falling behind.</li><li>My teammates <a href="https://www.businessinsider.com/author/emilia-david">Emilia David</a> and <a href="https://www.businessinsider.com/author/paayal-zaveri">Paayal Zaveri</a> break down how the US is on the brink of losing an entire generation of tech workers.</li></ul><a href="https://www.businessinsider.com/america-immigration-needs-reform-losing-workers-2023-3">Dive into America's loss — and other countries' gain — here.</a>In other news:<a href="https://www.businessinsider.com/youtube-subscriber-counts-vanity-metric-in-era-of-short-video-2023-3"></a><div type="image" title="A gold Youtube subscriber plaque lies inside a knocked-over wire trash can." height="1000" width="1333" msid="98942773" hostid="261" sizebytes="117480"></div>2. YouTube subscriber counts are just vanity metrics now. The metric was previously a strong success indicator. But YouTube Shorts — the Google-owned platform's answer to TikTok — seem to have watered down the stat's importance. <a href="https://www.businessinsider.com/youtube-subscriber-counts-vanity-metric-in-era-of-short-video-2023-3">More on the transformation here.</a>3. Bill Gates publishes an AI manifesto: "The Age of AI has Begun." The Microsoft founder has a lot of thoughts about the buzzy tech. He thinks it'll act like a "digital personal assistant" and will enhance employee productivity. <a href="https://www.businessinsider.com/bill-gates-ai-letter-chatbots-future-predictions-2023-3">Check out his other predictions here.</a>4. The 26 startups transforming real estate. The industry is floundering as the housing market cools. Investors told Insider the startups to keep an eye on, including ones capturing wind energy, selling home building kits, and offering tool rentals. <a href="https://www.businessinsider.com/top-proptech-companies-startups-2023-3?_gl=1*8koimu*_ga*NTIxOTg4NTMwLjE2NjgwODEzNzU.*_ga_E21CV80ZCZ*MTY3OTU2NjU2My4yNjIuMS4xNjc5NTY3NzU2LjQyLjAuMA..">Get the full list of companies to watch here</a>.5. Google's leaked engineering plan. Urs Hölzle, the company's engineering head, is focusing the department on efficiency, per a leaked email. Multiple Googlers are interpreting it as a warning signal for more layoffs. <a href="https://www.businessinsider.com/google-layoffs-engineering-leader-urs-holzle-efficiency-2023-3">See the full five-point plan here and what it means.</a>6. Microsoft should throw billions at Apple, says former Google exec. He said Microsoft should do as much as it can to get its search engine Bing as the default for iPhones and iPads. Google currently pays $15 billion for that privilege. <a href="https://www.businessinsider.com/microsoft-bing-chatgpt-google-search-engine-default-apple-iphone-agreement-2023-3">More on the search gauntlet here.</a>7. Gen Z and Boomers love the same cars. Vehicle registration data revealed the most popular cars among each age group. And it showed that Boomers and Gen Z both love many of the same cars, including the Toyota RAV4. <a href="https://www.businessinsider.com/top-cars-by-generation-toyota-ford-honda-2023-3">Check out every generation's favorite car here</a>.8. The SEC sued Tron founder Justin Sun in a lawsuit involving Tronix and BitTorrent crypto tokens. It also charged eight celebrities with promoting the tokens without disclosing they were paid, including the actress Lindsay Lohan, YouTuber Jake Paul, and singer Akon. <a href="https://www.businessinsider.com/justin-sun-lindsay-lohan-jake-paul-akon-celebrities-sec-crypto-2023-3">Read more</a>. Odds and ends:<a href="https://www.businessinsider.com/coronal-hole-on-sun-blasts-solar-wind-toward-earth-2023-3"></a><div type="image" title="A video from NASA's Solar Dynamics Observatory shows the massive hole in the sun's atmosphere." height="768" width="1024" msid="98942774" hostid="261" sizebytes="106340"></div>9. Solar winds will hit Earth by the end of this week. The sun has a massive hole in it, which is blasting rapid solar winds toward the planet. The <a href="https://www.businessinsider.com/northern-lights-sky-friday-us-solar-winds-giant-hole-sun-2023-3">winds will cause stunning auroras</a> on Earth. <a href="https://www.businessinsider.com/coronal-hole-on-sun-blasts-solar-wind-toward-earth-2023-3">More on the high-speed situation here.</a>10. Scoring $50 off the AirPods Pro 2 is a no-brainer. Insider's senior commerce director <a href="https://www.businessinsider.com/author/brendan-griffiths">Brendan Griffiths</a> refuses to buy an iPhone. But if <a href="https://www.businessinsider.com/guides/tech/apple-airpods-2nd-generation-review">Apple's top tier earbuds</a> are $50 off, he won't resist the "unstoppable" deal. <a href="https://www.businessinsider.com/guides/deals/airpods-pro-2-deal-03-2023-no-iphone">Check out his argument for the best earbuds he's ever owned.</a>What we're watching today:<ul><li>TikTok's CEO Shou Zi Chew is <a href="https://energycommerce.house.gov/" target="_blank" rel="noopener">speaking in Congress today</a>. The topic is "TikTok: How Congress Can Safeguard American Data Privacy and Protect Children from Online Harms."</li><li><a href="https://www.startsummit.ch/speakers-2023" target="_blank" rel="noopener">The Start Summit in St. Gallen, Switzerland</a> begins today. It's a student-run startup conference with leaders from SpaceX, Blackrock, Duolingo, and other major companies speaking.</li></ul>Curated by Diamond Naga Siu in Los Angeles. (Feedback or tips? Email <a href="mailto:dsiu@insider.com" target="_blank" rel="noopener">dsiu@insider.com</a> or tweet <a href="http://www.twitter.com/diamondnagasiu" target="_blank" rel="noopener">@diamondnagasiu</a>) Edited by Matt Weinberger (tweet <a href="https://twitter.com/gamoid" target="_blank" rel="noopener">@gamoid</a>) in San Francisco and Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock" target="_blank" rel="noopener">@hallam_bullock</a>) in London.

The US is bleeding tech workers to other countries — it needs to move fast or risk falling behind.

Many students dream of a career as public servants, but Big Law comes calling with hefty six-figure salaries, and for many kids, that is an offer that is too good to refuse.This post first appeared in 10 Things on Wall Street, a newsletter by Insider that brings you all the biggest stories dominating the finance industry — delivered daily to your inbox. Sign up <a href="https://www.businessinsider.com/subscription/newsletter/10-things-on-wall-street?r=US&amp;IR=T">here</a>. Download Insider's app <a href="https://link.insider.com/click/27645591.160803/aHR0cHM6Ly93d3cuaW5zaWRlci5jb20vYXBwP25yX2VtYWlsX3JlZmVyZXI9MSZ1dG1fc291cmNlPVNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9T3BlbmluZ19iZWxs/62667762063d6b9bef0cffb3Bf9c9aa56">here.</a><a href="https://www.businessinsider.com/law-students-versus-big-law-2022-8?r=US&amp;IR=T"></a>1. Many law students don't fancy a job in Big Law, but some might not have a choice. There are students who want to be public servants, but then Big Law comes calling with hefty six-figure salaries, and that can be hard to turn down.Law firms regularly frequent law school campuses to round up their next batch of juniors. While students sometimes scoff at the idea of a career in corporate law, their professors doubt some can say no to a lifestyle akin to the fictional corporate lawyer of "Suits" fame, Harvey Specter.They're also often plagued with thousands of dollars in unpaid student loans. And a gig in corporate law is the quickest way to whittle down their debt.There can also be a certain ease in tracking down a job in corporate law. Every year, law firms interview students for summer internships, and those who get selected are exposed to roughly three months of the Big Law life.Kirkland &amp; Ellis, often the law firm of choice for Wall Street's biggest banks and investment firms, welcomed <a href="https://www.law.com/americanlawyer/2022/05/25/massive-summer-associate-class-sizes-show-big-law-is-bullish-on-itself/?slreturn=20220717142045">more than 500 summer associates</a> in 2021.Yes, the hours are long, and <a href="https://www.businessinsider.com/lawyers-miserable-quit-hate-job-great-resignation-attorneys-2022-6">the work can be arduous</a>, but you're doing it from a fancy skyscraper with a towering view of the big city. Sometimes you also get treated to a night out with expensive wine or box seats at the ball game."People will do things they don't care a whole lot about if they get paid enough," said Stephen Bright, a professor at Yale Law School who teaches capital punishment and issues of race and poverty.Read the full <a href="https://www.businessinsider.com/law-students-versus-big-law-2022-8">feature story</a> from Insider's Senior Correspondent Casey Sullivan on why some law students, despite finding a career in corporate law unthinkable, might struggle to say "no" to that $200,000 salary.ICYMI, Casey has a bevy of stories on Big Law that are worth a read:<ul><li><a href="https://www.businessinsider.com/lawyers-miserable-quit-hate-job-great-resignation-attorneys-2022-6">Here's why so many lawyers hate their jobs — and are desperate to quit</a>.</li><li><a href="https://www.businessinsider.com/brad-karp-head-of-the-paul-weiss-law-firm-2022-7">Brad Karp, lawyer to the rich and powerful, wrestles with his future</a>.</li><li><a href="https://www.businessinsider.com/boies-schiller-flexner-llp-nepotism-bullying-allegations-2022-1">Jonathan Schiller helped build Boies Schiller, but behind the scenes, he drove people away</a>.</li><li><a href="https://www.businessinsider.com/paul-weiss-apollo-practice-group-leon-black-jeffrey-epstein-2021-5">Paul Weiss' relationship with Apollo has been lucrative. It has also sowed tensions within the firm and altered its DNA</a>.</li></ul>In other news:<a href="https://www.businessinsider.com/blackrock-renewable-natural-gas-infrastructure-deal-strategy-2022-8"></a><div type="image" title="Larry Fink, right, gestures to Andrew Ross Sorkin in front of a dark-colored DealBook logo." height="2136" width="2848" msid="93642167" hostid="261"></div>2. BlackRock's acquisition of Vanguard Renewables underscores the rise of renewable natural gas. But critics argued the label is greenwashed. Here's why the money manager bought the provider of a controversial energy source <a href="https://www.businessinsider.com/blackrock-renewable-natural-gas-infrastructure-deal-strategy-2022-8">for $700 million</a>.3. Bankers working on the debt financing supporting the buyout of Citrix Systems are doing whatever it takes to get the loans off of their books, according to Bloomberg. The banks — including Bank of America and Goldman Sachs — are gauging investor interest in a $500 million equivalent loan in euros and $3 billion in <a href="https://www.bloomberg.com/news/articles/2022-08-16/citrix-bankers-pitch-fresh-structure-for-15-billion-buyout-debt?campaign_id=4&amp;emc=edit_dk_20220817&amp;instance_id=69528&amp;nl=dealbook&amp;regi_id=162318335&amp;segment_id=101614&amp;sref=ipW5reFz&amp;te=1&amp;user_id=0162ea8283becc84919a0c458649e40f">secured bonds</a>.4. After almost four years at the helm of Goldman Sachs, what has David Solomon, its chief executive achieved? This deep dive from the Financial Times digs into the reinvention of the bank and argues that his efforts have not been as transformative as <a href="https://www.ft.com/content/30c61d67-8af9-474e-872a-b0c75258a781?shareType=nongift">many had hoped</a>.5. Manchester United stock has rallied as its owners, the Glazer family, are reportedly open to selling a stake. <a href="https://markets.businessinsider.com/news/stocks/elon-musk-tweet-manchester-united-stock-rally-joke-tesla-markets-2022-8">The football club's stock jumped 6% on Wednesday</a>, and, to be clear, Elon Musk was kidding when he said he'd <a href="https://twitter.com/elonmusk/status/1559691922725281800">buy a stake</a> in the club.6. A Goldman Sachs vice president who quit for a crypto gig has returned to the bank. Andrew Pesco left Goldman's quantitative investment strategies team for crypto-investing firm Domain Money last year. He has rejoined Goldman Sachs as a managing director in its asset-management division, efinancialcareers <a href="https://www.efinancialcareers.co.uk/news/2022/08/return-to-goldman-sachs-after-crypto">reported</a>.7. Healthcare startups are raising less money this year as investors react to an unstable market. Here are the 16 healthcare companies to buck that trend and hit <a href="https://www.businessinsider.com/healthcare-startups-1-billion-valuation-unicorns-2022-6">$1 billion valuations this year</a>.8. Young bankers are worried about their nights off and ponder whether there are dark days ahead, Bloomberg reported. Junior bankers, with more time on their hands due to a dip in dealmaking, are hitting up bars, boats, and <a href="https://www.bloomberg.com/news/articles/2022-08-17/young-bankers-worry-about-nights-off-early-and-dark-days-ahead?sref=ipW5reFz">Broadway shows</a>.9. Startups like Uber, Postmates, and Airbnb have relied on thorough pitch decks to net billions of dollars in capital. Here is an inside look at more than 800 pitch decks that founders have used to fund expansion plans, operations, and <a href="https://www.businessinsider.com/searchable-database-of-business-insider-pitch-decks-2020-7">mergers and acquisitions</a>.10. So-called "golden visas" offer immigrants residence through investment programs. Here are 20 countries — including Australia and Portugal — that offer these visas with costs ranging from <a href="https://www.businessinsider.com/countries-you-can-buy-resident-status-golden-visa-list-portugal-2022-8">$19,000 to $2.5 million</a>.Done deals:<ul><li>JPMorgan Chase, financial risk company RapidRatings, and the Illinois State Black Chamber of Commerce have launched the Financial Health Pilot Project — an initiative to enable minority-owned businesses to develop longer term business relationships. Businesses get a free financial assessment and market intelligence to understand and interpret their financial position to investors, lenders, and clients.</li><li>CVC Credit has priced a $500 million collateralized loan obligation. Société Générale arranged the deal, which is CVC's fifth CLO this year. The investment firm has raised more than $2.4 billion in structured transactions in 2022.</li><li>Francisco Partners has acquired workplace learning and development company SAP Litmos from the German multinational firm SAP.</li></ul>Curated by Aaron Weinman in New York. Tips? Email <a href="mailto:aweinman@insider.com">aweinman@insider.com</a> or tweet <a href="https://twitter.com/aaronw11">@aaronw11</a>. Edited by Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

Firms like Kirkland & Ellis and Skadden lurk law school campuses and offer big six-figure salaries. Despite some students wanting to shun a career in Big Law, many don't have a choice as debt loads mount.

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Rich people can buy their way into Hong Kong residency, and the majority of applicants come from 2 tiny countries

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The US is bleeding tech workers to other countries — it needs to move fast or risk falling behind.

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Firms like Kirkland & Ellis and Skadden lurk law school campuses and offer big six-figure salaries. Despite some students wanting to shun a career in Big Law, many don't have a choice as debt loads mount.

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