KPMG, Goldman Sachs, Bank Of America, And Morgan Stanley Sued Over SVB Collapse
Bloomberg has reported that KPMG, Goldman Sachs, Bank of America, and Morgan Stanley are being sued over the collapse of Silicon Valley Bank in the federal court in San Francisco.
J&J Offers $9 Billion To Talcum Powder Cancer Victims
The company announced in a securities filing late Tuesday that J&J will pay $9 billion to talcum powder cancer victims.
What Mumbai Can Learn From A 45-floor Slum In Venezuela
The article discusses how Mumbai can learn from a 45-floor slum in Venezuela, which is the tallest slum in the world. Caracas, the capital city of Venezuela, has a high percentage of its population living in slums, and has also faced extreme inflation.
Who Was Vladlen Tatarsky, The Blogger Assassinated In St. Petersburg Bombing?
Vladlen Tatarsky, who was assassinated in a St. Petersburg bombing, gained popularity as a military blogger following Russia’s operation in Ukraine in February of last year.
Ontario Crypto King Kidnapped And Tortured
According to CTV News Toronto, Ontario’s crypto king Aiden Pleterski was kidnapped and tortured for about three days.
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.
Twitter Source Code Leaked Online
According to legal filings, billionaire Elon Musk is seeking information on the person responsible for the Twitter source code being leaked online.
It Wasn’t Just Credit Suisse. Switzerland Itself Needed Rescuing.
The chairman of Switzerland’s largest bank received an urgent call last week. On the other end were three top Swiss officials who delivered an ultimatum dressed up as a proposal. UBS Group AG needed to rescue its failing rival, Credit Suisse Group AG.
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.