Ethereum co-founder Vitalik Buterin’s latest salvo against “shitcoins” has ended up with him simply being sent more of it. Only days ago, the Ethereum developer made moves to sell over $700,000 of tokens previously airdropped to him, causing the price of these tokens to fall.  Buterin has since continued his war on apparent “shitcoins.” In
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United States Representative Tom Emmer believes the launch of programmable central bank digital currency in the country could strip American citizens of their financial privacy. Speaking on March 9 at the Cato Institute, a Washington D.C.-based libertarian think tank, Emmer explained that the programmable CBDC would be “easily weaponized” as a spying tool to “choke out
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The writer is a former global head of asset allocation at a fund manager Time and time again, betting against Japanese government bonds has cost traders untold fortunes. The pay-off for going short on JGBs has always looked tempting and risks asymmetric. Potential losses appear limited given that yields, which move inversely to prices, cannot
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Our weekly roundup of news from East Asia curates the industry’s most important developments. South Korea invests another $51M in metaverse tech South Korea’s plans for metaverse domination are gathering pace. A March 8 document prepared by the Ministry of Science and Information and Communication Technology (ICT), the National IT Industry Promotion Agency and the
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Silicon Valley Bank shares plunged 60 per cent on Thursday, a day after launching a $2.25bn stock sale to shore up its balance sheet as it grapples with declining deposits from technology start-ups. Shares of SVB Financial Group, Silicon Valley Bank’s parent company, registered their biggest-ever decline, wiping $9.6bn from the banking group’s market capitalisation,
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The financial sector has been, uh, thoroughly spooked by a 60-per-cent single-day slide in the shares of SVB Financial, the holding company for Silicon Valley Bank. SVB hasn’t done much better in after-hours trading, sliding more than 20 per cent after reports that venture capital firms such as Founders Fund (co-founded by Peter Thiel) are
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According to a recent warning by the U.S. Public Company Accounting Oversight Board (PCAOB), crypto proof-of-reserve (POR) audits have limitations, and the board believes that investors should exercise caution when dealing with companies using POR audits. PCAOB Calls for Investor Caution and Due Diligence When Using Proof-of-Reserve Reports The U.S. accounting watchdog recently issued an
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In this article CS PYPL SI’A SIVB GE Follow your favorite stocksCREATE FREE ACCOUNT jetcityimage | iStock Editorial | Getty Images Check out the companies making the biggest moves midday: General Electric — The stock gained 5.27% after the company provided an update ahead of its investor meeting, including reaffirming its 2023 guidance with high-single-digit
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President Joe Biden unveiled a 2024 budget Thursday that raises taxes on high earners and large corporations while providing relief for struggling urban mass transit systems and sending money to states and locals for climate resiliency projects. The proposal totals $6.9 trillion, up from last year’s $6.4 trillion of federal spending. Discretionary spending would total
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