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...
U.K. considers blanket ban on crypto investment cold calls
Key Points The United Kingdom Treasury has released a consultation paper seeking to understand the effects of a blanket ban on crypto-related cold calls. The new fieldwork seeks to understand the impacts such a crypto regulation would have on businesses and the...
BlockFi argues FTX and Three Arrows Capital aren’t victims in the repayment case
Key Points Bankrupt crypto lender BlockFi is working on blocking FTX and 3AC from retrieving millions in loan payback. FTX and 3AC had lent money to BlockFi but underwent bankruptcy in 2022, necessitating the payback of loans given to the crypto lender. In an August...
Binance.US to use MoonPay as their USD banking ramp
Key Points Binance.US has scored another win after securing a partnership with MoonPay after having its US bank ties severed. The exchange was on the spot after a lawsuit from the US SEC, prompting the banks to draw away from it as preventive measures. Binance.US has...
Banking
Inflation: Britain to endure higher borrowing costs
Britain will endure high living costs as the Bank of England is expected to keep interest rates at painful levels. The Bank of England is expected to take this move all year as inflation pushes the economy into recession.
Finance
BRICS: Russia and China expedite plans to develop a new payment system as 25 more countries want in
China and Russia are rallying to finish developing a new payment system for BRICs nations ahead of schedule as they see more nations’ interest in pulling forces together. Currently, 25 more nations want to join the bloc to reduce their reliance on the US Dollar.
UK evades recession but still faces worst inflation in 5 decades
Bank of England boss, Andrew Bailey, announced that the bank expects a fall in UK’s inflation this year but pushed its 2% target to the Q4 of 2024.
Brits to endure more pain as BoE hikes interest rates to 4.5%
Brits to endure more pain as leaks reported by Fintech Express yesterday prove right as 25 basis point interest hike gets announced in the U.K. Now, the Bank of England has made it official, which marks a record 4.5% range which was last seen 15 years ago. At the...
Analysts expect a 12th straight interest rate hike from the Bank of England, but the outlook remains murky
The Bank of England is expected to propose a 12th consecutive hike in interest on Thursday to keep the fight against inflation lively. The nation’s Core inflation remains unchanged, highlighting the possibility of entrenchment. As such, analysts expect the bank to announce a 7-2 split vote pushing the hikes trend upwards to hit 4.25% to 4.5%.
Fed policies are affecting trust in US Banks; Family Offices are also wary of crypto
The ongoing banking collapse is sending shivers down the spines of US investors as they are losing trust in the policies that the Fed has been issuing. This has been seen via an increasing number of Short sellers in the stock market and bank withdrawals sending major banks under.
The Fed will most likely pause hikes, but that doesn’t mean its the end of the cycle- Standard Chartered CEO
Standard Charted CEO has commented on the likelihood of the U.S. Federal Reserve ( Fed) temporarily pausing interest rate hikes temporarily. However, he has added that he does not expect the end of the rate hikes cycle to be anytime soon as inflation is still running...
Technology News
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Podcast
Around the Block With Jefferson Nunn – Interview With Adrian E. Garcia from FynCom.
Catch this latest episode of Around the Block With Jefferson Nunn podcast as Jefferson interviews Adrian E. Garcia, a published author, inventor, and CEO/Founder of FynCom.
Around the Block With Jefferson Nunn – Interview With Omar from Shardus.org.
If you’re not caught up on the latest episodes of Around the Block With Jefferson Nunn, today is the perfect day to catch up as the latest episode features his interview with Omar at Shardus.org!
Around the Block With Jefferson Nunn – Interview With Mike Merrill.
Latest podcast episode of Around the Block With Jefferson Nunn
Around the Block With Jefferson – Interview With Simon Grunfeld from Simba Chain.
Catch this latest complete episode of Around the Block With Jefferson Podcast. Listen anywhere, anytime!
BlackRock Bitcoin ETF attracts controversy
A BlackRock Bitcoin ETF has sparked controversy among the crypto community as they determine if the $10T asset manager is their savior or doom. BlackRock is known to own large amounts of shares in most public companies.
Tether USDT de-pegs as Curve 3Pool destabilizes
Tether’s USDT traded on a discount of up to 0.25% on June 15, 2023, due to imbalances in Curve 3Pool. Curve 3Pool is one of the most popular pools for stablecoin trading in decentralized finance. Therefore, a miscalculation or imbalance of reserves can affect its stablecoins.
Tether CTO clarifies the minting of a new $1B worth of USDT on the ETH network
Tether CTO Paolo Ardoino has taken to Twitter to clarify why the issuer has minted a billion USD coins. He says the new coins will facilitate chain swaps and won’t mix with the issued market cap.
Atomic Wallet losses $35 million in a crypto hack
Atomic Wallet was hacked last week losing upwards of $35 million. Now, North Korea seems to have been caught in another crypto hacking controversy as experts believe that it could be the perpetrator.
Hot Stories
A Comprehensive Guide to Understanding Bonds: Basics and Beyond
What Are Bonds?Key Components of BondsTypes of BondsBond RatingsFactors Affecting Bond PricesBenefits of BondsRisks Associated with BondsConclusion What Are Bonds? Bonds are fixed-income securities issued by governments, municipalities, and corporations to raise...
Understanding Credit Limits and Strategies for Increasing Them
IntroductionWhat is a Credit Limit?Importance of Credit LimitsFactors Affecting Credit LimitsStrategies to Increase Your Credit LimitConclusion Introduction A crucial aspect of credit management is understanding the concept of credit limits and the strategies that can...
Europe’s Stripe rival Adyen losses $20 billion in a day
Key points Adyen, a money transmitter company, experienced a stock flash crash on Thursday by 39% after the company announced its slowest revenue growth on record. Adyen has been seen for a long as a growth stock after posting consistent revenue growth of 26% each...
Chinese real estate developer Country Garden to be removed from Hang Seng Index on Sept 4
Key Points China’s Country Garden, a real estate developer, is set to be removed from Hang Seng Index on Sept 4 and be replaced by Sinopharm. Country Garden Services will also be removed from the Hang Seng China Enterprises Index and be replaced by Trip.com following...
Navigating the Crypto Seas: A Guide to Selecting Promising and Lower-Risk Crypto Assets
IntroductionWhat to NoteMetrics and Factors to ConsiderConclusion Introduction The world of cryptocurrencies is a dynamic and rapidly evolving landscape, offering both tremendous opportunities and significant risks. As an investor, identifying promising and lower-risk...
Deciphering Tokenomics: Unraveling the Significance of Cryptocurrency Economics
IntroductionUnderstanding TokenomicsWhy Tokenomics MattersChallenges and ConsiderationsConclusion Introduction In the ever-expanding realm of cryptocurrencies and blockchain technology, the term "tokenomics" has gained significant prominence. It refers to the economic...