Worldcoin to stop paying Orb operators in USDC
Key Points Worldcoin has announced that it will ditch USDC usage in favor of its native coin, WLD. The project has also announced changes to the terms behind WLD loans to Market makers. Worldcoin is set to start paying Orb Operators in WLD, replacing the USDC that had...
European stocks fall as investors track Middle East political atmosphere
Key Points Tension in the European market rises as investors fear further escalation in the Middle East. Pan-European Stoxx 600 index down 0.6% as President Biden tours Tel Aviv European stocks are trading in the red as President Biden visits Tel Aviv. Investors are...
How to Make Money Using AI: A Comprehensive Guide
Introduction Artificial Intelligence (AI) has revolutionized the way we live, work, and do business. It has transformed industries, streamlined processes, and opened up new opportunities for entrepreneurs and businesses alike. One of the most exciting aspects of AI is...
Landmark Marijuana Bill that could hinder regulators from freezing bank accounts of businesses they dont like heads to the Senate.
Key Points A landmark Marijuana bill is headed to the US Senate seeking to challenge regulators who order the closure of bank accounts of businesses they don’t like. The bill seeks to protect legal businesses from being forced to deal with reduced banking options...
MicroStrategy acquires an additional 5,445 BTC, taking total holdings to 158,245 BTC
Key Points Michael Saylor’s MicroStrategy has acquired an additional 5,445 BTC at an average price of $27,053 per Bitcoin. The company now holds 158,245 BTC worth over $4.68 billion purchased at an average price of $29,582 per bitcoin. MicroStrategy has continued with...
Banking
Bitcoin bull Balaji condemns the US for slacking in economic crises
Bitcoin bull and former Coinbase CTO Balaji Srinivasan has released a statement on Twitter claiming that the US actively ignores looming financial meltdowns. He also said that he is still optimistic about Bitcoin hitting the $1M tag but in 90 months now rather than 90...
Nigeria SEC preparing to license digital assets companies
Nigeria’s Securities and Exchange Commision has expressed interest in licensing digital assets companies to operate in the country. The Commission, however, wants to allow the trading of assets based on financial products like Equity, Debt or property but not...
JP Morgan buys First Republic Bank
U.S. banking giant JP Morgan has been confirmed as the new owner of First republic bank after presenting a winning bid. The First Republic Bank collapsed in April, prompting the regulators to take control of it. It's now the third major bank to fail in only two...
Twitter partners with eTORO to allow for stocks and crypto trading
The social media giant, Twitter, has partnered with financial services provider eToro to allow crypto and stock trading. This development comes after Elon Musk recently revealed that he wants the social media platform to be the most significant financial establishment alongside providing other services to its users.
Bank of England Governor says the market is testing banks, a similar opinion to President Biden’s
Bank of England (BoE) Governor Andrew Bailey has asked banks to be vigilant as the current market is unfavorable, echoing President Joe Biden’s latest sentiments that the ongoing banking collapse is not anywhere near its end.
Chinese banks reportedly eying the crypto space
Several Chinese banks are reportedly seeking to offer financial services to crypto firms in Hong Kong despite a crypto blanket ban in mainland China. Hong Kong has been active lately in crypto regulation and plans to have a new licensing regime for crypto exchanges this June.
Finance
Warren Buffett’s Berkshire Hathaway ups stakes in 5 Japanese trading firms
Berkshire Hathaway seems pretty convinced by Japanese markets after bagging over $17B to add its stakes in five different Japanese trading firms. Berkshire Hathaway said on June 19 that its wholly-owned subsidiary National Indemnity Company had increased its stake in five Japanese trading firms to average more than 8.5%.
Fidelity Investments to follow BlackRock and file for an iShares Bitcoin ETF
Fidelity Investments is rumoured to be planning on filing for an iShares Bitcoin ETF on top of acquiring troubled digital assets manager Grayscale. The news comes at a time when the crypto space is anticipating the swarming of TradFi institutions into the crypto industry following an initial bold move by BlackRock.
Oil prices skyrocket following Saudi Arabia’s new voluntary production cuts
Saudi Arabia has pledged further voluntary oil production cuts, increasing oil prices. According to a statement by the energy minister, the Kingdom is set to decline its production by a million to 9 million barrels a day.
U.S.A. jobs rose 339K in May; unemployment rates spiked too
Non-farm U.S.A. jobs increased in May by 339,000, which is much higher than the 190K that Dow Jones estimated.
U.S. Senate passes debt ceiling bill; Markets and community reacts
The U.S. Senate has passed the debt ceiling bill preventing the U.S. from defaulting on its debt which would have been the first event of its kind.
U.K. economy check: Eurozone inflation falls, easing cost of living; Brexit remains a historic economic error
Eurozone inflation has fallen faster than anticipated a month ago, easing living costs.
U.K. house prices are falling at the fastest annual rates since 2009
Former U.S. Treasury Secretary Larry Summers says Brexit was a “historic economic error” that has hurt the U.K. economy, driving up inflation.
Technology News
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Podcast
Around the Block With Jefferson Nunn – Interview With Tom Herman.
Catch this latest episode of Around the Block With Jefferson Nunn, as he interviews Tom Herman, Tokenizer of Carbon, Serial Entrepreneur, and CEO of Meta Carbon Inc.
Around the Block With Jefferson Nunn – Interview With Lisa DeLuca from Unstoppable Domains.
Catch the latest podcast episode of Around the Block With Jefferson Nunn, as he interviews Lisa DeLuca, a seasoned technology executive currently leading engineering and product management for web3 identity and login at Unstoppable Domains.
Around the Block With Jefferson Nunn – Interview With Arvin Khamseh.
Catch this latest episode of Around the Block With Jefferson Nunn Podcast as he interviews, Arvin Khamseh, a globally recognized NFT marketing expert!
Around the Block With Jefferson Nunn – Interview With Matthew Sullivan from QuantmRE.
Catch my interview with Matthew Sullivan at QuantmRE on this latest episode of Around the Block With Jefferson Nunn!
Bitcoin price rallies to new 2023 high ahead of halving cycle
Bitcoin price rallied to the highest point on July 6, 2023, as the market approaches the eagerly awaited Bitcoin halving period in 2024. It has been noticed that as Bitcoin gains more security from the halving periods, more market buy pressure is seen, which increases the price.
Crypto hacks and cyber attacks claimed over $300 M in Q2 2023
Crypto hacks have persisted into 2023 though a noticeable drop of 58% YoY has occurred. A report by Certik, however, shows that $300 million was stolen from the industry in Q2 2023.
Slovakian parliament votes in support of lower crypto taxes
Slovakia has joined a growing list of pro-crypto legislation after approving the amendment of the crypto taxes bill, which slashes the taxes to only 7%.
MicroStrategy adds 12,333 more Bitcoins for $28,136 median acquisition price-Michael Saylor
Microstrategy has pushed its limits in Bitcoin acquisition after buying $347M worth of Bitcoins at an average cost of $28,136 per coin. The institution now holds 152,333 coins worth around $4.52 billion, acquired at an average cost of $29,668 per Bitcoin.
Hot Stories
Mixin Network suffers $200M in mainnet asset drain
Mixin Network, a decentralized peer-to-peer network, has lost nearly $200 million in a mainnet hack. The hack compromised the database of a third-party cloud service provider Mixin Network has taken to X.com to confirm that its services are down as a hack has...
Court approves 76 days defense time extension in SEC prosecution against Justin Sun
The SEC vs. Justin Sun case on possible Tron (TRX) market manipulation has seen a new development after the presiding judge granted a defense extension till December 8, 2023, to explore possible resolution before motion practice. Justin Sun’s legal team gets more time...
Brazil to add crypto to debtor’s protected list
Brazilian lawmakers are working on a law that could see crypto enter the debtor’s protected assets list. This means that significant crypto holdings might start being protected from seizures on behalf of creditors in the country. Brazilian lawmakers are discussing a...
Financing: What Does It Mean?
IntroductionDefining FinancingForms of FinancingSignificance of FinancingChallenges in FinancingConclusion Introduction Financing is a fundamental concept in the world of economics and personal finance. It plays a crucial role in enabling individuals, businesses, and...
Stanford University to refund millions in crypto donations to FTX
Stanford University has indicated that it intends to reimburse millions to FTX after confirming illegal donations by Sam Bankman Fried. FTX legal counsel has increased efforts to crawl back all donations that were made by EX-CEO Sam Bankman Fried using customer...
Meta reportedly working on an AI project to rival OpenAI
Key Points Mark Zuckerberg’s Meta is reportedly working on an AI project that is meant to rival OpenAI’s ChatGPT Wall Street Journal Exclusive story indicates that Meta is in very advanced stages of AI chatbot development Meta has been on the spot before for training...