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Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren’t Advisable Right Now
3.4.2023
On Sunday, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was coordinated with some members of the Organization of...
Former Treasury Official Issues Dire Warning, Bill Ackman Fears Economic ‘Train Wreck,’ US Gov. Remains Top BTC Holder, and More — Week in Review
2.4.2023
Warnings continue to pervade market and financial news this week, with Monica Crowley, former assistant secretary for public affairs for the U.S. Department of the Treasury, indicating “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency....
March Bitcoin Mining Stats Show Climbing Revenue and Hashrate Highs
1.4.2023
According to statistics, 4,498 blocks have been mined in the last 30 days, creating 28,112 new bitcoins over the past month. Bitcoin’s network hashrate has been around 341 exahash per second (EH/s) during the last 2,016 blocks or the last two weeks. This month, the mining pools Foundry...
The Steam Card Scams That Keep Some GameStop Employees Up At Night
30.3.2023
Someone walks into a GameStop and asks where the gift cards are. They proceed to buy a bunch of them. Not just $40, or $80, but hundreds of dollars worth of Steam cards, Razer Gold, or some other gaming currency. They don’t look like someone who’s kneed deep in the seedy underworld...
Indonesian government looks to NFTs to preserve cultural heritage
30.3.2023
The Deputy of Indonesia’s Ministry of Tourism and Creative Economy explains how NFTs and cryptocurrency can help solve social and economic challenges within Indonesia
World’s Largest Asset Manager Blackrock Predicts No Fed Rate Cuts This Year
30.3.2023
The world’s largest asset manager, Blackrock, does not see the Federal Reserve cutting interest rates this year. “That’s the old playbook when central banks would rush to rescue the economy as recession hit. Now they’re causing the recession to fight sticky inflation – and that makes...
Fed Bank President: Banking Crisis Tips US Economy Toward Recession
29.3.2023
The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, says the current banking crisis has pushed the U.S. economy closer to a recession. “We have fundamental issues, regulatory issues facing our banking system,” the Fed official stressed. Neel Kashkari on U.S....
Market Strategist Discusses ‘Super Bubbles’ Bursting — Warns of ‘Outrageously Consequential, Painful Effects’
28.3.2023
Market strategist Jeremy Grantham, co-founder of asset management firm GMO, has warned of “super bubbles” bursting. He explained that the Federal Reserve has “created an environment conducive to a chain-linked series of super bubbles that break with outrageously consequential...
First Citizens Bank Acquires Silicon Valley Bank, Costing FDIC Deposit Insurance Fund an Estimated $20B
27.3.2023
According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that...
Fortnite’s New Unreal Editor Has Limits On What Fans Can Make, Monetize
27.3.2023
Last week, Epic Games revealed its exciting new Unreal Editor for Fortnite, which gives players incredible freedom to design their own unique experiences within the battle royale. Already, they’ve made everything from chapter one map to recreations of Mario Kart maps and original game ideas. While...
Experts Predict More Bank Failures in the US Following Interest Rate Hike and Unsettled Banking Crisis
27.3.2023
After the recent bank collapses in the U.S., a number of people believe that more failures are coming following the Federal Reserve’s increase of the benchmark interest rate by 25 basis points (bps). American journalist Charles Gasparino insists that Wall Street’s “low-rate”...
Stablecoin Market Sees Fluctuations With Some Coins Gaining and Others Reducing Supply
26.3.2023
According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global trade volume across the entire crypto market. In the last two weeks since March 11, 7.06 billion USDC...
How does the economy work?
26.3.2023
The economy is a system of producing and exchanging goods and services in a society
Billionaire Barry Sternlicht Warns of Hard Landing — Says ‘Economy Is Going to Implode’
26.3.2023
Billionaire Barry Sternlicht, chairman and CEO of Starwood Capital Group, has warned that the U.S. economy is going to implode, emphasizing that interest rates have to fall. He further stressed that the economy “will have a hard landing.” Barry Sternlicht on Hard Landing, Economic...
Billionaire Bill Ackman on US Banking Crisis: ‘I Fear We Are Heading for a Train Wreck’
26.3.2023
Billionaire Bill Ackman has warned that the U.S. economy is “heading for a train wreck” if the government allows the current banking crisis to continue. “Trust and confidence are earned over many years, but can be wiped out in a few days,” he said. “Hopefully,...
Moody’s Warns of Potential Financial Disruption Spillover Beyond US Banking Sector
25.3.2023
Roughly ten days ago, the credit agency Moody’s Investors Service downgraded the U.S. banking sector from “stable” to “negative.” In a recent update on Thursday, the company stated that there is still a risk to the U.S. economy. The managing director of credit strategy...
Bank profits at risk from potential CBDC transformation of global economy: Moody’s
23.3.2023
CBDCs are here to stay, it seems, and Moody’s is looking at their implications for the global economy and international banking
Popular YouTube Channel Linus Tech Tips Pulled After Scammer Hack
23.3.2023
Linus Tech Tips is one of YouTube’s most popular content creators for tech hardware, with over 15 million followers on the platform. That changed very quickly after the account was hacked by crypto scammers who used it to run Bitcoin ads. The account has now been “terminated,” according to an error...
Texas Lawmaker Launches Resolution to Protect Bitcoin Investors, Support BTC Economy
23.3.2023
A legislative proposal has been introduced to support the bitcoin economy in the U.S. state of Texas. “The individuals who own bitcoin should be protected” under the Texas Constitution, the proposal describes. “No citizen of Texas shall ever be deprived of their right to own bitcoin...
This Dating Sim Will Help You File Your Taxes
22.3.2023
Filing taxes suck. If it weren’t for the sweet reward of a tax refund, many of us probably wouldn’t be filing our taxes (which are due on April 18th) at all this year to avoid the headache of leafing through physical and electronic paperwork. Luckily, there’s a new dating simulator that’ll help...