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Economist Dismisses Chinese Yuan’s Impact on U.S. Dollar Dominance, Envisioning a Potential Multi-Currency Global Landscape
It's widely recognized that the US dollar has been the world's reserve currency for more than a century, but it's encountering challenges to maintain its position. These challenges include the growing popularity of the Chinese yuan, the rising usage of... -
FBI Flags Impending Sale of $40M in Stolen Crypto Funds Linked to North Korea
The Federal Bureau of Investigation (FBI) has flagged six Bitcoin wallets associated with Lazarus, a North Korean state-sponsored hacking group. These wallets collectively hold 1,580 BTC, equivalent to $40 million, and are suspected to have amassed this sum from a... -
Terra.money Website Blocked to Stop Further Phishing Attacks
The website of Layer-1 blockchain project Terra has been temporarily shut down to safeguard users from continuous phishing scams. This decision comes in the wake of a recent hacking incident over the weekend, where malicious actors attempted to deceive users... -
Economics Nobel Laureate Paul Krugman Advocates Euro Adoption Over U.S. Dollar for Argentina Amidst Peso Devaluation and Trade Realities
Paul Krugman, the renowned economist, proposes an intriguing solution for Argentina's currency devaluation. He suggests that instead of turning to the U.S. dollar, Argentina could potentially benefit from adopting the euro. However, the reason can be attributed to the fact... -
Gemini Seeks SEC Lawsuit Dismissal, Citing Unfounded Charges
The Winklevoss twins' crypto exchange Gemini has filed a response document in its effort to seek the dismissal of the lawsuit filed against it by the US Securities and Exchange Commission (SEC). In its argument, the exchange claims that the... -
Meta May Launch a Web Version of Threads Soon as Users Plummet
Meta Platforms (NYSE: META) is considering launching a web version of its Threads app amid a steep fall in its active user base and engagement. While the app which is linked to a user’s Instagram profile started with a bang... -
SpaceX Records a $373 Million Write-Down on Bitcoin Holdings, Courtesy of Elon Musk
It has been reported that SpaceX reduced the worth of its Bitcoin investments by $373 million over the course of the last two years, and also made sales of an unspecified amount of the cryptocurrency. Tesla, which is also owned... -
Dubai Announces Subsidies for Web3 and AI Companies Seeking Commercial Licenses
Dubai is offering discounted licenses to Web3 and AI companies that want to operate within its borders. The Dubai International Financial Centre and its campus will be responsible for paying 90% of the fees associated with obtaining these licenses. This... -
Xpeng Motors Stock Falls after Posting a Record Loss
Xpeng Motors (NYSE: XPEV) stock fell over 4% yesterday after the company posted a record loss in the second quarter of 2023 and reported negative gross margins in the quarter. Xpeng Motors reported revenues of $693.7 million in Q2 which... -
Creditors to Vote on Celsius’ Bankruptcy Exit Plan Following Judicial Authorization
Celsius Network has been granted authorization by a United States judge to seek creditor consent for its active bankruptcy strategy. This strategy entails the sale of assets to the Fahrenheit consortium. Sale Could See Clints Recover 67% of Holdings In...
