Tag Archives: AA News

Economic, financial, and business analysts have been on the lookout for an imminent recession since late 2022. The only question in a field of certainty that a mild recession is looming is where? Jamie Dimon: Bank Failures Could Lead to Recession in 2023 Will the recession emerge from a financial crisis? Will oil or some other commodity trigger it? Could it start in housing as it did with the Great Recession? The critical weakness in banking that became evident to markets in...

A couple from Toronto became the latest to fall victim of a cryptocurrency scammer. They lost around $300,000 in an elaborate scheme.  However, in this case, law enforcement agents managed to recover a “significant portion” of the lost funds and returned them to the victims. Another Crypto Scam in Canada The Toronto Police Service announced earlier this week that an elderly man and his spouse, whose names were undisclosed, became victims of a cryptocurrency fraud.  The couple...

2022 was the year of hype around Web3, but 2023 is shaping up to be the year when the plans are being implemented. Luxury brands are now focusing on more concrete utilization closely connected with the physical product in contrast to digital-only assets existing solely for the metaverse. Everything then boils down to the usage of crypto and digital assets for transactional purposes. Luxury in Web3 Web3 has gradually established a warm relationship with luxury goods, and...

If you have been in the crypto sphere for some time, there are two things you should already know: you should never want to invest more money than you can afford to lose, and you will never want to read the words “Please bear with me; I don’t wanna go to jail,” from the CEO of a major exchange – for example, Paxful. On April 6, Ray Youssef, CEO and co-founder of Paxful, a US-based P2P Bitcoin exchange, announced that he is working on a plan to reimburse users’ funds using his...

Thailand’s main opposition party is promising an airdrop of about 500 billion baht (around $15 billion) in cash within months of its coming to power. The party official said that the move is expected to help recover the country’s struggling economy and provide relief to those battling “neck-deep debt.” According to a Bloomberg report, a Pheu Thai-led government plans to distribute 10,000 baht each to about 55 million citizens who are 16 years and above if it wins the general...

The efforts to expand Bitcoin development and adoption in Africa and Central America continue. So the market is looking pretty comfortable with BTC after the failures of Silicon Valley Bank and others with crypto exposure. After shocking customers, markets, and regulators earlier last month, their effect on BTC’s market value seems priced into the momentum. While crypto yield scheme crashes and bank runs haven’t been able to keep down bitcoin’s price, something’s pushing it...

The speculations about whether Elon Musk purposefully inflated Dogecoin’s price by changing Twitter’s logo so that he can dispose of his holdings continue on social media. According to data from Lookonchain, two of the five largest DOGE whales sold over $120 million worth of the memecoin amid its massive price rally this week. Twitter’s new owner is known as a keen proponent of the original memecoin, having pushed its price higher numerous times in the past through various...

After severe turbulence in the Bitcoin mining industry last year, there seems to be a significant resurgence since the start of 2023. While it has become even harder to mine BTC, miner revenue has also increased in a much-needed respite for such entities. Bitcoin’s network hash rate, which has been on a steady uptrend, has climbed to another record high of 342.16 EH/s. Foundry USA and Antpool have been dominating the hash rate with 33.9% and 18.7%, respectively. Closely...

The California Department of Financial Protection and Innovation (DFPI) joined a multi-state settlement with Robinhood, which will pay approximately $10.2 million in fines for registering operational deficiency that negatively affected investors during the COVID-19 crisis. The crypto-related company was slapped with another $30 million penalty last summer by the New York State Department of Financial Services (NYDFS) for violating anti-money laundering and cybersecurity...

The launch of the exchange project, OPNX, earlier this week managed to attract significant backlash from the community. A new development has emerged regarding the funds received for the development of OPNX, which is backed by the founders of the bankrupt hedge fund Three Arrows Capital (3AC). BitMEX’s Arthur Hayes cited an anonymous source and claimed that the founders of the controversial project, Zhu Su and Kyle Davies, received a “lot of money” from the sovereign wealth...