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News & Articles By Cassie B.
04/28/2023
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By Cassie B.
Zimbabwe needs $100 million in gold to support ambitious digital currency plan
Zimbabwe’s ambitious digital currency plan will need $100 million worth of gold to get off the ground, according to a member of the monetary policy committee for the country’s central bank. In a recent interview, Persistence Gwanyanya said that the central bank has been accumulating gold reserves as part of its plan to stabilize the […]
04/25/2023
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By Cassie B.
U.S. home prices see biggest annual drop in more than a decade as interest rates soar
Last month, home prices in the U.S. experienced their largest annual drop since 2012 as pending home sales reached a post-pandemic low. A report from real estate brokerage Redfin showed that median home prices in the country fell by 3.3 percent to just over $400,000. This comes right after a 12 percent drop was seen […]
04/21/2023
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By Cassie B.
Survey shows nearly 7 in 10 adults have a negative view of the US economy
A new survey reveals that Americans’ confidence in the economy has hit an all-time low as the economic policies enacted by the Biden administration continue to take their toll. The All-America Economic Survey from CNBC was released this week, and it showed that Americans are feeling more pessimistic when it comes to the economy right […]
04/13/2023
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By Cassie B.
Stubborn inflation causes the price of Big Macs to soar
The relentless inflation that has been draining Americans’ savings extends far beyond the grocery store, and one popular fast food sandwich illustrates just how much prices have risen in recent months. Although its price varies by location, a Big Mac combo meal is now selling for $16.89 in Connecticut. Right now, the average price for […]
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.
SAM THE SIPHON: Filings show former CEO Sam Bankman-Fried took $2.2 billion in customer funds for personal use
FTX Co-founder and former CEO Sam Bankman-Fried and five members of his inner circle reportedly pocketed more than $3.2 billion from parts of their crypto empire, including the hedge fund Alameda Research. Bankman-Fried and the other employees transferred the funds to their personal accounts using the label of “payments and loans.” This is according to […]
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 […]
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