U.S. prosecutors are pushing for former Binance CEO, Zhao, to receive a harsher sentence than the recommended guidelines. They are requesting a 36-month prison term for charges related to enabling money laundering. This sentence is significantly higher than the advisory range of 12 to 18 months usually provided for such offenses. The allegations against Zhao
Finance
The Securities and Exchange Commission (SEC) of the Philippines made a bold move by ordering Google and Apple to remove cryptocurrency exchange Binance from their app stores. The SEC expressed concerns about the threat Binance poses to the security of Filipino investors’ funds. This is a strong stance taken by the regulatory body against the
The recent implementation of home energy efficiency rebates tied to the Inflation Reduction Act has the potential to significantly impact consumers looking to make their homes more energy efficient. With $8.8 billion allocated for Home Energy Rebate programs through various states, territories, and tribes, the federal government aims to incentivize homeowners and landlords to make
Artificial intelligence (AI) has revolutionized the investing landscape since the debut of ChatGPT in November 2022. This groundbreaking technology has attracted significant attention from investors seeking the next big winners in the market. In 2023, seven major technology giants, including Tesla, Amazon, and Microsoft, contributed to a substantial portion of the market’s growth. However, as
China’s fiscal stimulus strategies have become a topic of debate, with concerns about their effectiveness rising. According to S&P Global Ratings senior analyst Yunbang Xu, the fiscal stimulus is losing its effectiveness and is now more of a strategy to buy time for industrial and consumption policies. The analysis used growth in government spending as
Recently, international police successfully infiltrated a massive fraud website called LabHost, which was utilized by thousands of criminals to deceive individuals into providing personal information such as email addresses, passwords, and bank details. The Britain’s Metropolitan Police revealed that approximately 2,000 criminals were using LabHost to steal users’ personal details. As a result of the
Investors in the K-pop sector have faced a tumultuous start to the year, with lower fourth-quarter sales, decreased profits, and scandals impacting stock prices. The “big four” companies – JYP Entertainment, YG Entertainment, Hybe, and SM Entertainment – have all experienced declines in their stock prices since the beginning of the year. These market fluctuations
Federal Reserve Chair Jerome Powell recently addressed the state of the U.S. economy, indicating that while there are signs of strength in various aspects, inflation has not returned to the central bank’s target of 2%. This lack of progress on the inflation front suggests that interest rate cuts are unlikely in the near future. Despite
British stock trading app Freetrade made a significant milestone earlier this year by achieving breakeven for the first time in its history. This accomplishment comes after the company experienced full-year losses in 2023. According to unaudited financial statements shared with CNBC, Freetrade reported adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of £100,000 ($124,863)
Larry Swedroe, a distinguished researcher in the market, has raised concerns about Warren Buffett’s investment style not being as effective as it once was. Swedroe believes that the increasing number of professional Wall Street firms and hedge funds in the market have changed the landscape significantly. Swedroe challenges the idea that Warren Buffett was a