Search Results for: policies

Musk Hires New CEO for Twitter, ‘She Will Be Starting in 6 Weeks’

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Billionaire investor Elon Musk will be stepping down as chief executive of Twitter and taking on other roles in the company. The owner of the microblogging platform revealed he has hired a new CEO, media executive Linda Yaccarino, who should be…

Japan’s Inflation Surges to 3.5% as New BOJ Governor Takes the Helm

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This week, the Statistics Bureau of Japan unveiled the latest core consumer price index (CPI) report for the country, revealing a surge to 3.5%. This figure comes as a surprise to analysts who had predicted a more modest 2.9% for the…

China Warns of Global Financial Instability From US Economic Policies

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China has urged the U.S. and other developed nations to assess the spillover effects of their economic and financial policies. “The economic and financial policies of the U.S. pose the biggest challenge to global financial stability,” according to the Chinese Ministry…

US Treasury Report Warns of Defi’s Threat to National Security, Authors Conclude Fiat Is Used in Illicit Finance More Than Crypto

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The U.S. Treasury has released a 42-page report assessing the risks of decentralized finance (defi). The report states that specific nation-state adversaries, cybercriminals, ransomware attackers, thieves, and scammers are using defi to “transfer and launder their illicit proceeds.” The Treasury’s report…

Former FTX CEO Seeks $10M Insurance Fund for Legal Defense, Request Opposed by FTX Debtors and Unsecured Creditors

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Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one…

Silicon Valley Bank Faces Financial Woes as Stock Is Halted, Sells $21 Billion Bond Portfolio at a $1.8 Billion Loss

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On March 10, 2023, market observers are discussing the troubles Silicon Valley Bank (SVB) faces, as the firm’s stock slid more than 60% in the last 24 hours. SVB was forced to sell a $21 billion bond portfolio at a $1.8…

Fed Chair Powell on Crypto: We See Turmoil, Fraud, Lack of Transparency, Run Risk

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Federal Reserve Chairman Jerome Powell has outlined several risks related to crypto activities during a hearing before the Senate Committee on Banking, Housing, and Urban Affairs. While stating that the Fed sees turmoil, fraud, a lack of transparency, and run risk…

G20 Finance Chiefs Widely Recognize Crypto Poses Major Financial Stability Risks, Says Indian Central Bank Governor

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The G20 finance ministers and central bank governors recognize that cryptocurrencies pose major risks to financial stability, monetary systems, and cyber security, India’s central bank governor reportedly said. Crypto regulation was among the key topics discussed during the G20 meeting over…

IMF Calls for ‘More’ Crypto Regulation — Says Banning Should Be an Option

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International Monetary Fund (IMF) Managing Director Kristalina Georgieva says crypto needs “more regulation.” She added, “We should not take off the table banning those assets,” if regulation fails or is too slow to implement. IMF’s Chief Calls for More Crypto Regulation…

Opensea Drops Fees to Zero and Announces New Creator Earnings Model in Response to Shifting NFT Landscape

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The largest marketplace for non-fungible tokens (NFTs), Opensea, has announced major changes to its fee structure and policies in response to a shift in the NFT ecosystem. The company detailed that it will drop fees to zero for a limited time…