Pacwest Stock Plummets Over 35% Following Release of Q1 Earnings Report Amidst Turmoil in Banking Industry

Following the acquisition of First Republic Bank by JPMorgan Chase, several regional banks such as Pacwest and Western Alliance experienced a significant drop in their stock prices. On Tuesday afternoon, all four major U.S. benchmark stock indexes are in decline as

Economists Expect the Fed to Reveal Another 25bps Rate Hike Before Pausing for the Rest of 2023

After the March rate hike by the Federal Reserve, economists believe that the recent move by Saudi Arabia and several members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production could complicate the central bank’s mission. Dodatno,…

BIS Releases Report On ‘Project Icebreaker’ — Develops Cross-Border Retail CBDC Payment Model

The Bank for International Settlements (BIS) has released a report summarizing theProject Icebreakertrial, which explored the potential advantages and difficulties of utilizing a retail central bank digital currency (CBDC) in cross-border payments. The experiment was designed to test “the…

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

The largest marketplace for non-fungible tokens (NFT-ji), Odprto morje, 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

Poročilo: FTX obljubil visoke zaslužke afriškim študentom, ki so uspešno zaposlili součence

The collapsed crypto exchange FTX reportedly used the lure of high earnings to convince African university students to become its ambassadors. In addition to encouraging new FTX investors to use the platform, student ambassadors were also required to teach them about

Meta Reportedly Preparing for a New Round of Layoffs

Meta, the company that owns Whatsapp, Instagram, in Facebook, is reportedly preparing to announce a new round of layoffs in the coming days. Po poročilih, the company is delaying the finalization of the budget for each one of its teams,…

Kripto, Equity, Metal Markets Plunge as Tech Earnings Disappoint and US Economic Weakness Deepens

Equity markets began the day in the red following the latest corporate earnings reports from some of the worlds largest firms, including Microsoft. The tech giants recent conference call was considered disappointing, and earnings from firms such as Boeing, Texas Instruments,…

New South African Code Says Crypto Asset Ads Must Include Capital Loss Warning

Crypto asset service providers in South Africa seeking to attract investors via advertisements mustexpressly and clearly state that investing in crypto assets may result in the loss of capital.Influencers working on behalf of crypto asset service providers mustnot

‘Big Short’ Investor Michael Burry Warns of Another Inflation Spike — Expects US to Be ‘in Recession by Any Definition’

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, says inflation has peaked in the U.S. but there will be another inflation spike. He expects the U.S. economy to be in a recessionby any definition.Michael Burry’s

‘Big Short’ Investor Michael Burry Warns of Extended Multi-Year Recession in US

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned aboutan extended multi-year recession” v ZDA. He believes there isn’t a strategy to pull us out ofthis real recession.Michael Burry’s Recession Warning Famous