Crypto is not replacing the US dollar, Bitfury CEO Brian Brooks says

Crypto is not replacing the US dollar, Bitfury CEO Brian Brooks says

Crypto prices should be viewed more like internet stocks than currency, said Brian Brooks, the former US Acting Comptroller of the Currency during the Trump Administration. The biggest misunderstanding around cryptocurrencies is that if they’re “not doing a great job of replacing the US dollar, then crypto is failing in its mission,” Brooks, now the … Read more

Why the retail industry is facing a bankruptcy wave

Why the retail industry is facing a bankruptcy wave

Revlon makeup products are displayed at a CVS store on August 9, 2018 in Sausalito, California. Justin Sullivan | Getty Images The retail industry is up against a potential wave of bankruptcies following a monthslong slowdown in restructuring activity. There could be an increase in distressed retailers beginning later this year, experts say, as ballooning … Read more

Bitcoin price: Celsius halts trade, Binance suspends some withdrawals

Bitcoin price: Celsius halts trade, Binance suspends some withdrawals

London CNN Business — Bitcoin and other cryptocurrencies plunged Monday, and two of the world’s biggest cryptocurrency platforms restricted activity as the market meltdown continued apace. The Celsius Network, which has 1.7 million customers, said that “extreme market conditions” had forced it to temporarily halt all withdrawals, crypto swaps and transfers between accounts. “We are … Read more

Elon Musk’s ‘best’ Twitter offers bogus looks

Elon Musk's 'best' Twitter offers bogus looks

The Elon Musk-Twitter drama keeps taking sometimes bizarre, unexpected turns so whatever I write here could be moot not long after the ink dries. It’s always been dangerous to talk in absolutes about Musk. He is said to be genius-level smart but he’s done some really dumb things (weird tweets nearly got him jammed up … Read more

Jack Dorsey’s TBD Presents Bitcoin-Based Decentralized Web5

Jack Dorsey's TBD Presents Bitcoin-Based Decentralized Web5

Jack Dorsey’s Bitcoin-focused TBD business unit, a subsidiary of Block Inc., announced Friday that it is building a new decentralized web: Web5. Web5 is based on the assumption that Web3, the idea of ​​building a decentralized web with blockchain technology and cryptocurrencies, has the right intentions but is using the wrong tools. Web5 leverages Bitcoin, … Read more

US Senators Discuss Highly Anticipated Bitcoin Bill

US Senators Discuss Highly Anticipated Bitcoin Bill

On Tuesday, June 7, 2022, Cynthia Lummis, a Republican senator and rancher from Wyoming, and Kirsten Gillibrand, a Democrat senator and securities lawyer from Albany, New York, will introduce the Responsible Financial Innovation Act. This bill is a broad, sweeping attempt to regulate bitcoin and other cryptocurrencies. In Lummis’ words, the bill will “fully integrate … Read more

Hepatitis A outbreak linked to strawberries sold at Kroger, Walmart, other grocery stores

Hepatitis A outbreak linked to strawberries sold at Kroger, Walmart, other grocery stores

A recent outbreak of hepatitis A cases have been linked to strawberries sold at Kroger, Aldi, Walmart, Trader Joe’s and other grocery stores nationwide. Here’s the info from the FDA, which was updated on May 28, 2022: The FDA, along with CDC, the Public Health Agency of Canada and the Canadian Food Inspection Agency, state, … Read more

Luxury stores still limiting post-COVID crowds — and won’t admit why

Luxury stores still limiting post-COVID crowds — and won't admit why

COVID-19 is waning, but shopping for a Louis Vuitton bag, a Chanel suit or a pair of Gucci loafers increasingly means standing in line outside a boutique — and luxury brands have been conspicuously tight-lipped on why. Most elite labels leaned into “appointment shopping” during the height of the pandemic, citing the need for social … Read more

Recession-fearing investors keep slashing fastest-growing cloud stocks

Recession-fearing investors keep slashing fastest-growing cloud stocks

Nima Ghamsari, co-founder and chief executive officer of Blend, speaks during the Sooner Than You Think conference in New York on Oct. 16, 2018. Alex Flynn | Bloomberg | Getty Images Tech investors finally got some relief this past week, as the Nasdaq broke a seven-week losing streak, its worst stretch since the dot-com bust … Read more