market crash
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 […]
01/26/2023
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By Belle Carter
NY Stock Exchange cancels early trades after glitch impacts 200+ stocks
The New York Stock Exchange (NYSE) canceled early trades Tuesday, Jan. 24, after a technical issue halted trading in more than 200 stocks. According to the exchange’s website, it “commenced continuous trading in 2,824 of 3,421 NYSE-listed securities without attempting to conduct an opening auction due to a technical issue.” The snag was “determined to be […]
01/23/2023
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By Ethan Huff
Dollar, crypto both failing as governments make way for new world reserve currency
The world is transitioning from a paradigm of Federal Reserve fiat currency dominance to what appears to be a gold-backed digital currency that will eventually serve as the new world reserve currency instead of the United States dollar. The BRICS (Brazil, Russia, India, China, and South Africa) nations have already announced plans to create this […]
01/10/2023
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By Arsenio Toledo
HYPOCRISY: Federal Reserve warns banks against using crypto while planning to develop its own digital currency
The Federal Reserve along with other federal agencies have issued a joint statement warning banks against using cryptocurrencies just as the Fed is deliberating over possibly issuing a central bank digital currency (CBDC) in the United States. The Fed was joined in its statement by the Federal Deposit Insurance Corporation (FDIC) and the Office of […]
01/07/2023
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By Arsenio Toledo
Samsung Q4 2022 profits DROP 69% due to slowing global economy and plummeting demand for semiconductors
Global electronics manufacturing giant Samsung’s operating profits dropped by 69 percent in the fourth quarter of 2022. The downturn reduced Samsung’s operating profit to $3.4 billion in the quarter that ended in Dec. 2022. The company has cited the diminished demand for electronics products and semiconductors resulting from the slowing global economy as the main […]
12/16/2022
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By News Editors
Alleged $100M stock manipulation scheme leads to charges against social media influencers
Eight social media influencers have been charged by the The Securities and Exchange Commission involving $100 million in securities fraud. (Article by Margaret Flavin republished from TheGatewayPundit.com) It is alleged that the group used a “pump and dump” scheme to manipulate stock prices using social media platforms, aided by podcasters touting stock-trading. According to Investopedia: Pump-and-dump […]
12/02/2022
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By Arsenio Toledo
Bank customers FURIOUS after HSBC announces closure of 114 UK branches
International banking giant HSBC has announced that 114 of its branches in the United Kingdom will be closing beginning on April 2023, drawing fury and disappointment from the bank’s many customers. HSBC’s recent announcement is just the latest in a series of bank closures that have occurred in the U.K. since 2020. Earlier this year, […]
11/16/2022
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By Roy Green
Crypto lender BlockFi blocks withdrawals as FTX declares bankruptcy
The crumbling crypto industry has claimed another likely victim in BlockFi, a digital-asset lender worth $10 billion once, but is now barely functioning. With FTX announcing its plans to file for bankruptcy on Friday, Nov. 11, BlockFi announced via Twitter on the same day that it is “stopping client withdrawals” because of a “lack of clarity” […]
09/23/2022
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By Cassie B.
South Korea requests Interpol red notice in search for disgraced crypto developer Do Kwon
The co-founder of the stablecoin TerraUSD, Do Kwon, is officially a wanted man in his native South Korea. Last week, a court there issued an arrest warrant for him, and prosecutors say he’s wanted for violations of capital markets law. Kwon’s company, Terraform Labs, is behind the algorithmic stablecoin as well as its sister cryptocurrency, […]
08/09/2022
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By Belle Carter
NYDFS fines Robinhood’s crypto division $30M over anti-money laundering and cybersecurity-related issues
The New York State Department of Financial Services (NYDFS) has issued a $30 million fine on Robinhood’s crypto division over anti-money laundering and cybersecurity-related issues. Robinhood, a financial services company that facilitates commission-free trades of stocks, exchange-traded funds and cryptocurrencies via a mobile app, said last year that it will pay NYDFS a $30 million settlement […]
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