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Economy

A collection of 596 issues

Philippines dismantles crypto-pyramid scheme where illegal aliens were working

The Philippine National Police (PNP), with the help of international agencies, has successfully completed an operation to rescue over a thousand victims of human trafficking. Law enforcement reports show that they were lured into the country and forced to participate in an online scam promoting bogus investments in cryptocurrency. Police

Voyager begins debt repayment procedures

Crypto-bankrupt Voyager Digital will begin distributing funds to its customers "in the coming weeks." They announced this through the Official Committee of Unsecured Creditors. For now, the company is finalizing everything needed for such transfers. It is now important that creditors approve the Liquidation Process. They have 10 days to

Noventiq will enter America with a $1 billion capitalisation

Noventiq, formerly Softline Holding, from which the Russian business was spun off, announced a deal with Corner Growth Acquisition. The combined company will be listed on the Nasdaq exchange in the second half of 2023. As part of the deal, Noventiq's capitalisation is valued at $1bn - much higher than

US Federal Reserve raises interest rate by 0.25%

The US Federal Reserve increases the interest rate by 25 basis points (0.25%). The rate now stands at 5.25%. You can see the dynamics of the interest rate changes in our infographic.

Statistically, a deal with Microsoft and Activision has only a 33% chance of success

Earlier, the UK regulator CMA blocked the takeover of the games maker due to monopoly threats. Facts are emerging in the media that are shattering the belief that the decision will be reviewed. The Verge reports that Nicole Kar of law firm Linklaters wrote back in 2020 that the CMA

SEC fines Coinme and their partners $4 million

The US Securities and Exchange Commission (SEC) has fined Coinme, Up Global and businessman Neil Bergquist a total of nearly $4 million. The defendants accepted the fine without admitting or denying wrongdoing. The regulator issued the fine for the UpToken ICO, which took place back in 2017. In a statement,

Semiconductor manufacturing

Germany is negotiating with the EU and the US to restrict exports to China of chemicals that are used to make semiconductors.

The cryptocurrency segment in the US is dead - Chamath Palihapitiya

Last week, investor, billionaire and cryptocurrency advocate Chamath Palihapitiya, in an All-In podcast said that cryptocurrency is dead in the US as an industry "Gensler (SEC chairman) even said as if it was cryptocurrency that caused the banking crisis. The federal government has turned its back on the sector. Cryptocurrency

Cosmose AI and Near will collaborate to create a payment system

Cosmose AI, which uses AI to track shop traffic, has announced a partnership with blockchain company Near. The parties plan to create a payment system that will allow users to make purchases using cryptocurrency. As part of the partnership, Near Foundation has also made a strategic investment in Cosmose. The

Zimbabwe to issue CBDC backed by gold

The Central Bank of Zimbabwe intends to put into circulation CBDC backed by gold. In this way the regulator hopes to stabilise the economic situation, strengthen the national currency and slow down inflation.