Monthly Archives: September 2022

Russia will be using second-grade tech for years and spending ‘huge resources’ to recreate what already exists, says a former top Russian finance official

Oleg Vyugin, former Russian finance ministry and Bank of Russia official, said “sanctions work.” Maxim Shemetov/Reuters Sanctions against Russia will hit tech goods, former finance official Oleg Vyugin told Reuters. Russia’s tech industry relies on imports, so it will have to recreate those goods domestically. Russia’s tech development will decline if the situation doesn’t improve,…

Gavin Newsom escalates his feud with GOP governors, says they’ve been ‘doubling down on the stupid’

There has been speculation that California Gov. Gavin Newsom might make a run for president in 2024. Aric Crabb/MediaNews Group/East Bay Times via Getty Images Gavin Newsom called out Texas Gov. Greg Abbott and other GOP governors at an event on Tuesday. “They’re just doubling down on stupid, and we will not follow their path,”…

Crypto tax reporting app Binocs helps users navigate regulations

Keeping up with tax compliance for cryptocurrency can be tricky, especially since many laws are new (or haven’t been written yet). That’s why Binocs was founded. Users integrate their exchanges and wallets, and Binocs provides a tax report and other accounting details. The startup announced today that it has raised $4 million to expand in…

Top economist El-Erian says the Fed could have avoided ‘higher, faster, longer-lasting’ rates and elevated recession risk if it had acted sooner

Top economist Mohamed El-Erian said many have lost faith in the Fed. Photo by Rob Kim/Getty Images The Fed raised interest rates by 75 basis points on Wednesday, marking its third straight rate hike. It signaled more hikes ahead to tame inflation, but the move risks tipping the economy into recession. El-Erian said higher, faster…