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News & Articles By Cassie B.
04/06/2023
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By Cassie B.
Elon Musk asks judge to toss $258 billion racketeering lawsuit against him over Dogecoin support
Elon Musk has asked a judge to toss out a $258 billion racketeering lawsuit stemming from his support for the meme cryptocurrency dogecoin. The suit was filed by a group of investors who accused Musk of intentionally driving up the price of Dogecoin by more than 36,000 percent across a period of two years before […]
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.
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 […]
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 […]
02/10/2023
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By Cassie B.
Google shares lose $100 billion after new AI chatbot gives an incorrect answer in demo
Shares in Alphabet, the parent company of Google, fell by 7.7 percent on Wednesday, causing it to lose a remarkable $100 billion from its market value after its new AI chatbot gave an inaccurate response to a question in a public demo this week. Google’s new AI chatbot tool, which is known as Bard, has […]
02/08/2023
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By Cassie B.
As gas prices rise for 5th straight week, experts warn high prices will persist through summer
Gas prices in the U.S. rose for the fifth week in a row during the last week of January, and industry analysts report that they are unlikely to drop in the near future. According to GasBuddy, the national average reported last week of $3.49 per gallon represents a rise of 33.3 cents over the figure […]
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