Tag Archives: AA News

By the end of World War II, the United States found itself in a position of preeminence in the global economy. For decades and generations after that time, its national security has depended on petrodollar hegemony. The standardized use of the dollar for international trade in petroleum and other commodities ensured a constant demand for the currency. This unrelenting massive global demand for U.S. dollars became a generational subsidy. It allowed the central bank to print...

According to a study conducted by the Swedish tax firm Divly, only 0.53% of cryptocurrency investors globally paid taxes on their trades last year.  The average share of people abiding by the rules varies in different countries. For example, over 4% of Finnish investors have paid taxes, while only 0.03% of those in the Philippines have done so. The Trends Across the Globe Divly explored 24 nations to determine what chunk of people in each area declared their cryptocurrency...

The Digital Currency Group will revamp its way of mining Bitcoin amid larger funding problems due mostly in part to another subsidiary of theirs, Genesis, going bankrupt as a result of their dealings with FTX. Freeing Up Revenue Although Genesis reached an agreement with its creditors – the crypto trading platform’s parent company, DCG, being one of them – the former is marked for sell-off as soon as a buyer appears. The arrangement DCG and its subsidiary have entered was a...

A 23-year-old professional with a major tech company who lost nearly Rs. 30 lakh (approx. $37,500) in the cryptocurrency market tried to commit suicide by jumping off a river bridge in Kolkata, India. A cab driver who noticed the young man on the Vidyasagar Setu (bridge) alerted the nearby police about his intentions. Borrowed to Invest in Crypto The police were able to prevent the techie from jumping off the famous bridge into the river, media reports said, without...

Last month a crypto Twitter influencer accidentally destroyed their $129K CryptoPunk NFT. Here are some best practices to protect your NFTs from losses to technical mishaps with your crypto. “This is truly a devastating mistake for me.💔 But I did this myself, and it is no one’s fault but my own. Both the beauty and the curse of self-custody,” tweeted crypto investor Brandon Riley, “Stay safe out there, everyone, and please be way more careful than I was. Thank you to so many...

If some angry investors had it their way, the world’s most successful tech startup founder and CEO would meanwhile lose his fortune. The cohort of people bringing “Johnson v Musk et al” in U.S. federal court, Southern District of New York, are suing him for $258 billion. Elon Musk’s attorneys wrote in a memo to the court: “The Complaint is a fanciful work of fiction that fails to state any actionable claim against Defendants Elon Musk and Tesla and must be dismissed in its...

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...