SOPA Images / Contributor/ Getty Images Crypto users removed $8 billion worth of crypto from exchanges last week, according to data form CryptoQuant. The market has been shaken by the fall of Sam-Bankman Fried’s FTX exchange. FTX last Friday filed for bankruptcy after failing to secure a rescue from rival exchanges. FTX’s collapse has set…
Monthly Archives: November 2022
A file photo of a soldier’s helmet after Russian forces withdrew from Balakliia, Ukraine, on September 15, 2022. Metin Aktas/Anadolu Agency via Getty Images A video shared on Saturday appears to show the brutal execution of Russian soldier Yevgeniy Nuzhin. Nuzhin said he was recruited to Russia’s Wagner Group and surrendered to Ukraine in September….
The news: Amid the FTX collapse, the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are investigating the crypto exchange for mishandling customer funds, per Banking Dive. Probe upon probe: Prior to its liquidity squeeze, the failing crypto exchange was already under investigation by regulatory agencies for allowing customers to trade derivatives products without being registered with…
Binance CEO Changpeng Zhao. Andrey Rudakov/Bloomberg via Getty Images Changpeng Zhao called out FTX’s Sam Bankman-Fried for the crypto exchange’s collapse last week. The Binance CEO said Bankman-Fried “lied to his users, his shareholders, regulators.” CZ also said SBF should shoulder most of the blame for the fall of FTX, which filed for bankruptcy on…
Insider Studios Find out how this technology can turn everyday professionals into superheroes. Welcome to Dataville, a city that wants the best for its residents. Whether there’s a cyberattack or a heart attack, Microsoft Azure’s high-performance computing solutions and Intel’s processing speed empower Dataville’s citizens to thwart danger, protect themselves, and innovate to create a…
Elon Musk speaks during the official opening of the new Tesla electric car manufacturing plant in Germany on March 22, 2022. Getty Images Europe Elon Musk’s five-day trial in Delaware over his $50 billion Tesla pay package began Monday. A Tesla shareholder has sued Musk and the automaker, alleging his pay plan is unreasonable. The…
Three consecutive wars in Afghanistan have left behind tons of explosive military waste. A lot of the explosives contain copper, a valuable metal used to make cables. Hundreds of men and children risk their lives collecting these explosives just to make a living. Millions of unexploded land mines are scattered across Afghanistan, and for many…
As inflation continues to rise, investors still have limited safe havens. Darren415/Getty Images Goldman Sachs said it sees a significant decline in core inflation coming in 2023. Improvement in supply chain disruptions, rebalancing in the labor market and easing shelter prices should bring core PCE down to 2.9%. The Fed’s preferred inflation measure was 5.1%…
Amazon CEO Andy Jassy. Mike Blake/Reuters Amazon plans to lay off roughly 10,000 white-collar employees, The New York Times reported Monday. The cuts will mainly affect Amazon’s devices, human resources, and retail divisions, the paper said. Tech companies have laid off tens of thousands of workers this year as the US economy falters. Amazon plans…
US President Joe Biden. Samuel Corum/Getty Images A federal judge in Texas struck down Biden’s student-loan forgiveness on Thursday. The relief is effectively blocked, and Biden’s administration is appealing the decision. For now, borrowers are still expected to resume payments after December 31. President Joe Biden’s student-loan forgiveness plan is in jeopardy. On Thursday, Mark…