Tag Archives: concerns

This is a story about a story. A story about Sam Bankman-Fried, yes him, the now disgraced, former billionaire, founder, and CEO of crypto trading platform FTX which has just flamed out in spectacular fashion and filed for bankruptcy. You’ve probably read about Bankman-Fried — known as SBF by the cryptoscenti — and his implosion, the details of which are still unfolding. SBF hasn’t been shy about talking up his endeavors and/or giving his take, now one part apology, ten parts blame…. Source link

Cryptocurrencies plunged Tuesday as investors digested an emergency deal struck for an undisclosed sum between major crypto exchanges Binance and FTX. Bitcoin (BTC-USD) tumbled 13% over the last 24 hours from $19,800 to a period low of $17,603, the largest one-day drop since June. It has since recovered above $18,600 per coin. The second largest cryptocurrency, ether (ETH-USD) sold off by 15% on the day from $1,468 to $1,318. FTX’s exchange token FTT, fell by as much as 84% on the day from… Source link

A cloudy economic outlook isn’t fazing luxury watchmakers laser-focused on the American consumer. It’s why Carl F. Bucherer, a Swiss luxury watch manufacturer, is refocusing towards the U.S. market, particularly given the continued uncertainty in Asia, largely driven by COVID lockdowns in China. Bucherer recently released a line of colorful chronographs that retail for roughly $7,000. “The U.S. is on fire again,” Ron Stoll, president of Carl F. Bucherer North America, told Yahoo Finance at… Source link

Sign up for The Brief, our daily newsletter that keeps readers up to speed on the most essential Texas news. Texas Attorney General Ken Paxton has filed a lawsuit against Google, claiming the internet giant is violating state law by amassing facial and voice recognition data on Texans without their knowledge or consent. The lawsuit claims Google apps and devices indefinitely store data on facial geometry and voiceprints from anyone they capture, whether… Source link

Donald Trump’s social media app “Truth Social” in Apple’s App Store on an iPhone 12. Christoph Dernbach | Picture Alliance | Getty Images Truth Social, the would-be Twitter competitor created by Trump Media and Technology Group, remains unavailable on the Google Play store. According to a report from Axios, Google said the app lacks effective systems for moderating user-generated content, which violates the store’s terms of service. “On Aug. 19, we notified Truth Social of several violations of… Source link

GENEVA: UN rights chief Michelle Bachelet said Saturday that the potential extradition and prosecution of Julian Assange raised concerns for media freedom and could have a “chilling effect” on investigative journalism.Assange, who has been held in a high-security London prison since 2019, has filed an appeal against his extradition from Britain to the United States.The Australian is wanted to face trial for allegedly violating the US Espionage Act by publishing classified US military… Source link

Between slowing revenue growth and an increasingly murky outlook for tech companies in general, Google is tasking its employees to put in harder shifts at work. Amid a larger market downturn over the past few months, the tech sector has arguably fared the worst. Thousands of tech company employees have been laid off, and with chatter growing that an inevitable economic contraction is on the way, more speculative stocks such as tech are bracing for the worst. At Google—one of the… Source link

US stocks fell Wednesday morning, extending Tuesday’s losses as investors remained focused on mounting signs of a slowdown in US economic growth. The S&P 500 traded lower shortly after market open, following a 2% slide in the index a day earlier. The Dow Jones Industrial Average edged lower, while the Nasdaq Composite underperformed as technology stocks remained under pressure. Bitcoin also fell, and prices briefly fell below $20,000. West Texas intermediate crude oil futures rose above $112… Source link

This post was originally published on TKer.com. It’s a bear market. On Monday, the S&P 500 tumbled 3.9% to close at 3,749.63. That put the index down 21.8% from its January 3 all-time closing high of 4,796.56. This was the first time the S&P closed down by at least 20% from its high, confirming that we’ve been in an official bear market. By the end of the week, the S&P had fallen to 3,674.84, down 23.4% from its high. Historically, bear markets have come with more pain. According to Howard… Source link

As gas prices top $5.00 a gallon nationwide and economists ponder when demand destruction will really kick in, many wonder whether the electric vehicle (EV) industry is benefitting. Data shows that new EV purchases jumped in Q1, and many industry watchers speculate high gas prices are driving this behavior. But a new study from Autolist — an online car shopping platform— shows gas prices actually are not driving more EV consumer sentiment. “This was a little bit of a surprise for us,”… Source link