Prominent Democrats continue to urge a skeptical President Biden to cancel $50,000 in federally held student loan debt via executive action (as opposed to legislation passed by Congress). In an interview with Yahoo Finance, Senator Elizabeth Warren (D-MA) explained why she and others believe that cancellation would have a stimulus-like effect on the U.S. economy. “It’s going to be a huge, huge boost to our economy,” Warren, who chairs the Subcommittee on Economic Policy at the Senate… Source link

Dogecoin (CYRPTO: DOGE), often branded as a meme coin, saw a meteoric rise last week, hitting a high of 43.77 cents Friday before giving back some of the gains over the weekend. Its rising popularity, thanks in part to the unstinted support of Tesla Inc.’s (NASDAQ: TSLA) Elon Musk, is pushing the cryptocurrency into the mainstream. Doge’s Heady Gains: At its all-high Friday, the cryptocurrency had tacked on a gain of over 9,200% for the year-to-date period. Doge ended 2020 at 0.47 cents and… Source link

A timelapse look at the changing Aral Sea, Kazakhstan. The lake was once the world’s fourth largest … [+] body of inland water, but has been shrinking since the 1960s after the rivers that fed it were diverted by irrigation projects. Google Earth Google Earth newest Timelapse feature lets users look back from the current day all the way to 1984 and see how both human activity as natural forces have changed the face of Earth over the last 40 years, writes Rebecca Moore,… Source link

(Reuters) -Bitcoin, the world’s biggest cryptocurrency, fell as much as 14% to $51,541 on Sunday, reversing most of the big gains it made over the past week. Bitcoin was last trading down 10% at $53,991 as of 1320 GMT, a whopping $12,000 below record highs set on Wednesday. Smaller rival Ether, the coin linked to the ethereum blockchain network, dropped 10% to $2,101. Data website CoinMarketCap cited… Source link

A new proposal by Republican lawmakers to overhaul a critical law that protects online platforms already looks dead in the water, according to one legal expert, though another prominent legal scholar believes it could fuel bipartisan reform for tech regulation. The proposal, laid out by Republican members of the House Energy and Commerce Committee on Thursday, is meant to serve as a foundation to reform Section 230 of the Communications Decency Act, a law that provides liability protection… Source link

Bloomberg Gas Is the New Coal With Risk of $100 Billion in Stranded Assets (Bloomberg) — Natural gas is falling out of favor with emissions-wary investors and utilities at a quicker pace than coal did, catching some power generators unaware and potentially leaving them stuck with billions of dollars of assets they can’t sell.Citigroup Inc. and JPMorgan Chase & Co. are among the banks that strengthened their financing restrictions on thermal coal under pressure from shareholders wanting to… Source link

On Sunday, bitcoin shed nearly $8,000 and is currently trading at $55,042 down from a day high of $62,000. Photo: Getty Bitcoin (BTC-USD) is experiencing a massive sell-off, shedding as much as 15% in the last 24 hours — the biggest intraday drop since February — days after hitting record highs.  In late February, bitcoin saw a retreat to as low as $43,000 amid uncertainty in the traditional markets over stimulus expectations and their positive effects on US bond yields. The drop appears… Source link

Bloomberg U.S. Drops Switzerland, Vietnam Currency-Manipulator Labels (Bloomberg) — The U.S. refrained from designating any trading partner as a currency manipulator in the Biden administration’s first foreign-exchange policy report, even as Switzerland, Taiwan and Vietnam met thresholds for the label.The Treasury Department said Friday that those three economies met criteria for the manipulator label, including a large trade surplus with the U.S. But it said there was “insufficient… Source link

MMA Weekly UFC Vegas 24 results: Robert Whittaker outclasses Kelvin Gastelum in main event It was a rough road, but the UFC Vegas 24 results came in on Saturday night having dropped two bouts in the final 48 hours leading up to the event. The night’s main event between former middleweight champion Robert Whittaker and perennial top ten contender Kelvin Gastelum took place, but two supporting bouts were scratched. The UFC Vegas 24 co-main event between Jeremy Stephens and Drakkar Klose was… Source link

(Bloomberg) — Bitcoin plunged the most in more than seven weeks, just days after reaching a record. The biggest crypto coin fell 8.5% to $55,810.32 as of 2:52 p.m. in Singapore on Sunday, after declining as much as 15.1% to $51,707.51. Ether, the second-largest token, dropped almost 18% before paring losses. Several online reports attributed the plunge to speculation the U.S. Treasury may crack down on money laundering that’s carried out through digital assets. Bitcoin hit a record high of… Source link