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News & Articles By Arsenio Toledo
08/04/2022
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By Arsenio Toledo
Solana blockchain targeted in cyberattack, hackers stole $5.2 million worth of crypto assets from around 8,000 wallets
Approximately 8,000 digital wallets connected to the blockchain platform Solana have been targeted by hackers, who have drained them of over $5.2 million worth of digital assets – including the platform’s own sol coin, USD Coin (USDC) and a small number of non-fungible tokens. According to Twitter account Solana Status, which provides status updates for the Solana […]
08/04/2022
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By Arsenio Toledo
Senate introduces bill to classify bitcoin, ether as commodities under the regulatory authority of CFTC
A bipartisan group of United States senators has introduced a bill that would classify bitcoin and ether as digital commodities and would make the Commodity Futures Trading Commission (CFTC) the direct regulator of the world’s two biggest cryptocurrencies. The proposed bill was introduced by Senate Agriculture Committee Chairwoman Debbie Stabenow, a Democrat from Michigan, and Committee Ranking […]
08/03/2022
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By Arsenio Toledo
Robinhood fires nearly a quarter of its employees as crypto collapse diminishes company earnings
Robinhood fired nearly a quarter of its employees a day before the company reported dismal quarterly earnings due to the collapse of cryptocurrency values. The financial services company’s easy-to-use platform made it notorious early last year when many young investors trading from home participated in the GameStop stock short squeeze. Robinhood’s platform has been used since […]
08/03/2022
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By Arsenio Toledo
More high-income Americans are shopping at discount stores due to unrelenting inflation
The inflation crisis gripping the United States has become so devastating that even Americans in higher income brackets are heading to discount stores to save on groceries. According to the Consumer Price Index of the Bureau of Labor Statistics (BLS), the index figures for June gauging how much eating at home costs has risen by 12.2 percent […]
07/31/2022
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By Arsenio Toledo
Initial unemployment claims remain high as recession fears affect labor market
Unemployment claims for the fourth week of July fell slightly, but remain higher than expected, indicating that employers remain hesitant to fill their vacancies due to fears of a recession. According to a report released by the Department of Labor, the seasonally adjusted initial unemployment claims for the week ending July 23 was 256,000. This is […]
07/29/2022
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By Arsenio Toledo
New vehicle retail sales for July expected to DROP by 10.8% year-over-year
The latest projections from automotive industry research and consulting firms show that new vehicle retail sales for the month of July are expected to crash by nearly 11 percent compared to the number of cars sold in the same month last year. The forecast was made jointly by J.D. Power and LMC Automotive, which both predict […]
07/28/2022
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By Arsenio Toledo
Joe Biden has presided over more inflation in his 18 months in office than any other elected president in history
President Joe Biden has officially presided over more inflation than any other elected American president since 1948, when the Bureau of Labor Statistics began keeping track of annual inflation rates. The latest report from the bureau shows that annual inflation in June was sitting at 9.1 percent, another 40-year high. The average inflation for Biden’s first […]
07/27/2022
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By Arsenio Toledo
Ukraine has sold $12 billion of its gold reserves since start of Russian invasion
The central bank of Ukraine has sold over $12 billion of its gold reserves since the start of the Russian invasion. This is according to the deputy head of the National Bank of Ukraine, who confirmed on July 17 that the bank has sold $12.4 billion of its gold reserves since late February. “We are […]
07/27/2022
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By Arsenio Toledo
Record number of Americans having difficulties covering household expenses as inflation crisis continues
The Census Bureau has found that more Americans are now having difficulties paying their bills than during the Wuhan coronavirus (COVID-19) pandemic lockdowns in 2020. The bureau conducted a poll in late June and early July asking whether adults in households have had difficulty paying for usual household expenses in the last seven days. According to the data, […]
07/26/2022
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By Arsenio Toledo
California regulator to investigate crypto companies for not disclosing risks of crypto lending activities
The California Department of Financial Protection and Innovation (DFPI) has warned consumers to “exercise extreme caution” when dealing with interest-bearing cryptocurrency accounts as it begins an investigation into whether big players in this part of the crypto industry have broken the law. Without naming which companies, the DFPI stated that multiple businesses engaged in providing interest-bearing […]
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