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News & Articles By Cassie B.
04/05/2023
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By Cassie B.
Social security expected to run out of money by 2033, a year earlier than previous predictions
The Social Security trust funds that pay for the benefits of 67 million Americans are now expected to run out in 2033, a year earlier than previous projections. This is according to the yearly trustees’ report released last week by the Treasury Department. The impending insolvency is largely due to a 3 percent downward revision […]
03/24/2023
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By Cassie B.
Midsize American banks ask FDIC to insure ALL deposits (to stop bank runs against smaller banks)
Midsize banks in the US have reportedly requested that the Federal Deposit Insurance Commission (FDIC) start insuring all bank deposits during the next two years in order to avoid further bank runs. The move comes after a high-profile run on Silicon Valley Bank, which saw many large depositors move their money out of regional banks […]
03/21/2023
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By Cassie B.
SAM THE SIPHON: Filings show former CEO Sam Bankman-Fried took $2.2 billion in customer funds for personal use
FTX Co-founder and former CEO Sam Bankman-Fried and five members of his inner circle reportedly pocketed more than $3.2 billion from parts of their crypto empire, including the hedge fund Alameda Research. Bankman-Fried and the other employees transferred the funds to their personal accounts using the label of “payments and loans.” This is according to […]
03/21/2023
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By Cassie B.
Cryptocurrency traders pull $3 billion from stablecoin USDC in just 3 days
Traders have pulled a total of $3 billion from the cryptocurrency stablecoin USD Coin in three days’ time in the wake of the failure of Silicon Valley Bank and the coin’s temporary loss of its dollar peg. USD Coin, or USDC, is a type of digital currency that is fully backed using U.S. dollar assets, […]
03/17/2023
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By Cassie B.
Big banks offer First Republic a $30 billion lifeline to prevent imminent collapse
As a crisis of confidence from customers and investors heats up, First Republic bank is getting a lifeline from its rivals. Some of the biggest banks in the nation have joined forces to help the struggling lender with billions of dollars to boost confidence in the bank and help it meet customer withdrawals. Some of […]
03/17/2023
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By Cassie B.
RIGGED: Silicon Valley Bank gave its employees bonuses just hours before it collapsed
Employees of Silicon Valley Bank were given their annual bonuses on Friday just hours ahead of the seizure of the bank by regulators. The payments were reportedly bonuses for work conducted last year and were already being processed in the days ahead of the collapse of the bank. In the past, the bank has paid […]
03/09/2023
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By Cassie B.
Fed Chair warns U.S. could see unexpectedly high interest rate hikes soon
The chairman of the Federal Reserve, Jerome Powell, warned this week that interest rates will likely be higher than policymakers at the central bank previously anticipated. He cited data showing that inflation has now reversed the deceleration experienced late last year. Powell stated: “The latest economic data have come in stronger than expected, which suggests […]
03/08/2023
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By Cassie B.
Cobalt market notes highest supply jump on record as Indonesia becomes biggest global source outside of Africa
The cobalt market experienced its biggest supply jump on record last year as Indonesia became the world’s top source of the in-demand battery metal outside of Africa. Booming production in Indonesia and the Democratic Republic of Congo drove the supply of mined cobalt up by 23 percent in 2022 to reach 187,060 tons. This more […]
03/01/2023
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By Cassie B.
Free AI voice generation software successfully hacked into bank accounts using simulated voices
While any type of hacking can be upsetting, it’s hard to imagine a more devastating scenario than someone gaining access to your bank account. Most banks employ cutting-edge authentication technology that is very difficult to get around – but one tech writer recently proved that even the most modern measures are surprisingly easy to breach. […]
02/16/2023
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By Cassie B.
Recent regulatory crackdowns have crypto investors on edge
As regulators start to crack down on cryptocurrency, spooked investors are pulling back significantly amid a backdrop of great uncertainty. Until recently, regulators had not interfered much in the crypto industry. However, they have recently started cutting off access to services and products that are essential for the digital currency business. This week, regulators in […]
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