Is Indicted Chinese Billionaire Tycoon Guo Wengui Secretly Bankrolling George Santos’s Bail?
Indicted Chinese billionaire tycoon Guo Wengui is reportedly secretly bankrolling George Santos’s bail, as George Santos has developed an interest in Guo’s own bail problems. A member of Congress isn’t in jail and we don’t know why. Last month, federal prosecutors in New York brought a 13-count indictment against Rep. George Santos, a Republican who […]
Europe Approves World’s First Cryptocurrency Regulations
On May 16, EU ministers approved the Markets in Crypto-Assets (MiCA) legislation, making it the world’s first cryptocurrency regulations. The European Union has approved a set of rules—the first such regulation in the world—to regulate crypto assets like cryptocurrencies and tokens in a bid to curb money laundering activities and protect investors. The markets in […]
Biggest Startup Bankruptcies Of All Time
According to data provided by PitchBook, here is a list of the biggest startup bankruptcies of all time. Vice Media has filed for bankruptcy, despite having raised over $1.6 billion from venture capitalists. The big picture: Vice now joins an ignominious club of well-funded flameouts. Intarcia FTX Douglas Boneparth, a 38-year-old financial adviser from New York, stated that the […]
Sam Bankman-Fried Bribed Chinese Government Officials To Unfreeze Alameda Accounts
Federal prosecutors in Manhattan have accused Sam Bankman-Fried of bribing Chinese government officials to unfreeze Alameda accounts.
Alert — If You Trade Crypto On Binance, Consider Yourself Warned
Late last year, as crypto markets were struggling to regain their footing, the world’s biggest cryptocurrency exchange quietly moved $1.8 billion of collateral meant to back its customers’ stablecoins, putting the assets to other undisclosed uses. They did this without informing their customers. According to blockchain data examined by Forbes, from August 17 to early December–about the same time FTX was imploding–holders of more than $1 billion of crypto known as B-peg USDC tokens were left with no collateral for instruments that Binance claimed would be 100% backed by whichever token they were pegged to. B-peg USDC tokens are digital replicas of USDC, a dollar-pegged stablecoin issued by Boston-based Circle Financial, that exist on blockchains not supported by the firm such as Binance’s proprietary Binance Smart Chain. Each stablecoin is worth one U.S. dollar.
Fiat Money Has Won The Battle Against Cryptocurrencies, Says BIS Chief
A report from the International Monetary Fund (IMF) in September 2022, co-authored by BIS Chief Carstens, identifies three shortcomings that preclude cryptocurrencies from serving as a “sound basis for the monetary system,” which shows how fiat money has won the battle against cryptocurrencies.
CBDC Working Group Discussing Potential Routes For Digital Dollar
The original Treasury report released in September 2022 described the formation of a CBDC working group, and now they are discussing potential routes for the digital dollar.
How India Lost Billions To South Korea – Adani Scandal
Due to the Adani Scandal, where Chang Chung-Ling violated sanctions against trading with North Korea, India has lost billions to South Korea.
White House Targets Cryptocurrencies, Calls For Stronger Enforcement By Regulators
A blog post was co-written by national security adviser Jake Sullivan, director of the National Economic Council Brian Deese, director of the Office of Science and Technology Policy Arati Prabhakar, and chair of the Council of Economic Advisors Cecilia Rouse on the official White House website targets cryptocurrencies and calls for stronger enforcement by regulators.
Gold-Backed Currencies To Replace The US Dollar In Global South
One of the key take aways from the World Economic Forum annual shindig in Davos, Switzerland is when Saudi Finance Minister Mohammed al-Jadaan, on a panel on “Saudi Arabia’s Transformation,” made it clear that Riyadh “will consider trading in currencies other than the US dollar.”