Search Results for: Group of Seven

Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren’t Advisable Right Now

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On Sunday, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was…

Ticketmaster Launches NFT-Gated Ticketing Service for Avenged Sevenfold Shows

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Ticketmaster, the global provider of event ticketing services, has launched “token-gated sales,” allowing fans access to concert tickets using non-fungible token (NFT) technology. The first to use the service is the metal band Avenged Sevenfold (A7X), whose “Deathbats Club” NFT collection…

Yellen Says US Could Back All Deposits at Smaller Banks if Needed to Prevent Contagion

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U.S. Treasury Secretary Janet Yellen says the federal government could guarantee all deposits of smaller banks if they “suffer deposit runs that pose the risk of contagion.” The government recently protected all deposits of Silicon Valley Bank and Signature Bank after…

Chinese Tech Giants Tencent and Bytedance Plan Cuts in Their Metaverse Divisions

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According to reports, Tencent and Bytedance, two Chinese tech giants, are planning to execute a significant number of job cuts in their metaverse divisions. Tencent recognized it is making some staff adjustments, amidst rumors of hundreds of layoffs in its extended…

Report: South Sudan Government Bans US Dollar Transactions

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The government of South Sudan has reportedly prohibited U.S. dollar-based transactions and has directed that all local payments be settled in the local currency. The Salva Kiir Mayardit government reportedly said it also wants all signed commercial contracts to be based…

Crypto Association in Turkey Vows to Block Exchanges That ‘Victimize Traders’

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A new organization has been established in Turkey with the aim to monitor and help develop the country’s crypto sector, local media reported. Its first task will be to address recent problems with some cryptocurrency exchanges and boost confidence in the…

Several Crypto Exchange Websites Taken Down in Kazakhstan

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Financial authorities in Kazakhstan have targeted at least five online platforms exchanging cryptocurrencies outside the law. Documents, computer equipment, and cryptocurrency wallets have been seized during searches in the northern part of the country. Kazakhstan’s Financial Watchdog Goes After Unlicensed Crypto…

Gold Prices Expected to Soar in 2023: Experts Predict Record Highs for Precious Metal

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Gold is on the rise in 2023 and in the first week of the new year alone, the precious metal has jumped 2.36% against the U.S. dollar. Over the past 65 days, gold has soared 14.55% while silver has skyrocketed 22.31%…

Report: Federal Prosecutors in New York Probe Digital Currency Group and Subsidiary Genesis

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Following accusations from Gemini co-founder Cameron Winklevoss in an open letter to Digital Currency Group CEO Barry Silbert, a report citing “people familiar with the matter” states that federal prosecutors from New York are scrutinizing transfers between Digital Currency Group and…

SEC Charges Team Behind Coindeal Crypto Fraud That Promised 500,000 Times Investment Returns

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The U.S. Securities and Exchange Commission (SEC) has charged the team behind Coindeal, a $45 million fraudulent crypto investment scheme. The regulator explained that the defendants falsely claimed that Coindeal “would generate investment returns of more than 500,000 times for investors.”…