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America, the [senseless] economy that you are
The Enigma of America’s Economy: Defying Gravity Amidst Rising Interest Rates A Dance with Dollars: Unraveling the Mystery of America’s Robust Economy America is like that one friend who, despite a diet mainly consisting of processed sugar and fast food, somehow remains inexplicably fit. Similarly, the U.S. economy has been maintaining an impressive shape despite…
Pakistan University kickstarts classes in the Metaverse
The Information Technology University of Lahore in Pakistan: Pioneering Metaverse-Based Learning The Information Technology University (ITU) of Lahore, Pakistan, has recently made headlines by introducing the country’s first-ever virtual reality (VR) classes within the metaverse. This groundbreaking initiative marks a significant leap forward in educational technology, as reported by local Pakistani news outlet Samaa TV…
Crypto market experiences general crash ahead of the upcoming Bitcoin halving
The cryptocurrency market experienced a substantial downturn on Friday, with major coins such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) undergoing noticeable price declines. Bitcoin, the largest digital asset by crypto market capitalization, saw a decrease of over 4% in the last 24 hours, dropping to approximately $63,400, according to CoinGecko. Bitcoin’s Halving and…
U.S. Government wants to sell private jets linked to FTX’s Sam Bankman-Fried
On March 22, 2023, the U.S. Attorney’s Office for the Southern District of New York filed a request with the U.S. District Court to sell two private aircraft belonging to Sam “SBF” Bankman-Fried, the former CEO of cryptocurrency exchange FTX. According to the filing by U.S. Attorney Damian Williams [stated in the document], this move…
Exciting! Coinbase Set to Launch 3 New Leveraged and CFTC-regulated Futures
Coinbase Derivatives Announces New Leveraged and CFTC-Regulated Futures Contracts for Bitcoin Cash, Litecoin, and Dogecoin: A Giant Leap Towards Broader Adoption The cryptocurrency community was abuzz with excitement on March 21, 2024, when Coinbase Derivatives, the derivatives department of the popular cryptocurrency exchange platform, made a significant announcement. They revealed their intentions to launch the…
Silvergate to face lawsuit over alleged FTX exchange fraud
Class-Action Lawsuit Against Silvergate Bank: Allegations of Facilitating Fraud at FTX and Alameda Research In a notable turn of events within the cryptocurrency banking sector, Silvergate Bank is facing a class-action lawsuit following accusations from FTX users. These allegations claim that Silvergate played a role in enabling fraudulent activities at the exchange and its affiliate,…
Researchers discover critical vulnerability in Apple M-Series chips
In a recent development, academic researchers have disclosed a new vulnerability, referred to as GoFetch, within Apple’s M-series chips used in Mac devices. This flaw could potentially enable attackers to extract sensitive cryptographic keys from these devices without requiring elevated system privileges. The vulnerability, deeply embedded in the microarchitectural design of Apple’s silicon, is proving…
Bitcoin surges after Federal Reserve rate announcement
Over the past few days, Bitcoin (BTC) has witnessed notable fluctuations in its valuation, experiencing a significant surge after the latest Federal Open Market Committee (FOMC) session. The cryptocurrency reached a high of $68,000 within a short span of 17 hours following a dip to $60,760 per unit. This upward trend came after the FOMC…
SEC postpones its verdict on VanEck’s Ethereum ETF application
The SEC’s Decision to Postpone the Fate of VanEck’s Ethereum ETF In a recent turn of events, the United States Securities and Exchange Commission (SEC) has announced the postponement of its decision regarding an application submitted by asset manager VanEck for a spot Ethereum exchange-traded fund (ETF). This delay was outlined in a notice issued…
BlackRock receives memecoins and NFTs amid $100M deposit
Asset management behemoth BlackRock has recently garnered attention for its entry into the realm of memecoins and non-fungible tokens (NFTs), indicating a major pivot in its stance towards digital assets. According to on-chain investigations, BlackRock now holds a portfolio worth over $40,000 in memecoins and NFTs following the establishment of its new tokenization fund. BlackRock’s…
A look at the implications of US’s new restrictions on big bank mergers
A New Era of Bank Mergers: Tougher Regulations Ahead The banking landscape in the United States is witnessing a significant shift, with regulatory authorities signaling tougher times for large bank mergers. At the forefront of this change is the Federal Deposit Insurance Corporation (FDIC), which recently proposed a new set of rules aimed at adding…
Inside Egypt’s narrow escape from economic collapse
March 2023 marked a pivotal moment in Egypt’s economic journey, as the country experienced an astonishing transformation from the precipice of an economic catastrophe to a promising destination for investors exploring emerging markets. This thrilling metamorphosis, highlighted by Egypt’s groundbreaking $35 billion tourism agreement with the United Arab Emirates (UAE), brought much-needed dollar inflows and…
Central banks around the world anticipating a dollar collapse any day now
The international scene is awash with a palpable sense of unease, and it’s not the kind that dissipates once the final credits roll. Instead, this tension carries a heavy weight that could potentially impact your finances significantly. Central banks from various corners of the globe are amassing gold as if there’s no tomorrow, fueling our…
Bank of England leaves interest rates at 5.25% – Is inflation losing the fight?
The United Kingdom’s Economy: A Cautious Shift with the Bank of England The United Kingdom‘s economy experienced a subtle ripple rather than a seismic shift as the Bank of England (BoE) decided to maintain interest rates at 5.25%. Governor Andrew Bailey expressed a guarded yet optimistic perspective, stating that the country is making progress in…
So, what’s next for the Bank of Japan?
Ushering in a New Economic Era: The Bank of Japan’s Exit from Negative Interest Rates A Delicate Transition: Ending the Era of Negative Interest Rates The economic landscape in Japan is undergoing a significant shift, and the focus has turned towards the Bank of Japan (BoJ) following its recent decision to move away from negative…
Federal Reserve keeps interest rates steady – So what now?
The Federal Reserve’s Decision: A Predictable Season Finale A Fifth Consecutive Hold on Interest Rates The drumroll comes to an end, the curtains are drawn back, and what unfolds before us is a familiar sight: The Federal Reserve choosing not to alter the interest rates that have been comfortably nestled in the 5.25% to 5.5%…
Former CFTC official challenges SEC on Ethereum regulation
Former CFTC Commissioner Brian Quintenz Speaks Out Against SEC’s Approach to Ethereum (ETH) Brian Quintenz, the former Commissioner of the Commodity Futures Trading Commission (CFTC), has publicly criticized the Securities and Exchange Commission (SEC) for its treatment of Ethereum (ETH). Quintenz labeled the SEC’s stance on Ethereum as “illegal” and expressed concerns regarding regulatory confusion….
Hong Kong central bank flags e-HKD investment scams
The Hong Kong Monetary Authority (HKMA), the central banking institution of Hong Kong, has issued a public warning against certain organizations that are falsely claiming an association with its e-HKD pilot projects. The central bank’s advisory highlights concerns as Hong Kong evaluates the potential of a central bank digital currency (CBDC) through various trial projects….
India’s crypto regulations push OKX to cease local services
The cryptocurrency exchange OKX, which operates out of Hong Kong, has recently announced its intent to cease trading activities in India due to mounting regulatory hurdles. This decision comes in the wake of increased scrutiny from India’s Financial Intelligence Unit (FIU), which has been cracking down on foreign cryptocurrency exchanges for non-compliance issues. In a…
Celsius targets $2B in withdrawals to aid bankruptcy resolution
Celsius Initiates Legal Actions to Reclaim $2 Billion Withdrawn by Users Before Bankruptcy – Understanding the Clawback Provision and Its Implications for the Crypto Industry In a noteworthy turn of events, the embattled cryptocurrency lending platform, Celsius, has commenced actions to reclaim funds withdrawn by its users prior to the company’s financial collapse. The firm,…