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News & Articles By JD Heyes
06/14/2023
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By JD Heyes
GOP lawmakers introduce bill to fire SEC chair Gary Gensler as he wages war on cryptocurrency
Two Republican lawmakers have introduced legislation to remove Securities and Exchange Commission Gary Gensler and add a sixth seat to the commission in order to ensure one party did not control it. According to Fox News: Rep. Warren Davidson, R-Ohio, and House Majority Whip Tom Emmer, R-Minn., introduced the SEC Stabilization Act that would restructure the […]
03/28/2023
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By JD Heyes
Govt. agency files complaint against crypto exchange Binance, alleging compliance violations
On Monday, the Commodity Futures and Trading Commission filed a complaint in an Illinois federal court against Binance, its co-founder Changpeng Zhao, and its former chief compliance officer Samuel Lim, alleging that Binance solicited U.S. users and undermined its own “ineffective compliance program.” As reported by CNBC, the filing has the potential to disrupt the exchange’s operations and […]
03/21/2023
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By JD Heyes
Global markets continue to slide as Swiss bank giant Credit Suisse loses more than 60 percent of its value after UBS buys it
Another massive bank — and bank bailout — has occurred as the global financial crisis that began (where else?) in the United States earlier this month continues to spread. On Monday, global stock markets experienced a sharp decline following the announcement by Swiss authorities that troubled Credit Suisse would be taken over by UBS Group. […]
03/21/2023
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By JD Heyes
Emergency loans to banks spike to record level as they borrow eye-watering $153 billion, a 3,000% surge from previous week
After the 2008 financial crisis Americans were told that a law passed by Congress expanding federal authority over the financial industry and creating an all-powerful new federal agency — the Consumer Financial Protection Board — that we’d never have another problem. As usual, Democrats — who were in charge of Congress and the White House […]
03/14/2023
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By JD Heyes
Stablecoin USDC busts through dollar peg as its cryptocurrency at risk of losing billions in SVB collapse
The collapse of Silicon Valley Bank in California is continuing to have negative reverberations throughout the economy and across the finance and tech worlds. Circle, a US-based cryptocurrency firm, announced over the weekend that nearly 8 percent of its $40 billion reserves were tied up with SVB. As a result, the value of Circle’s stablecoin, […]
02/03/2023
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By JD Heyes
Black Swan financial manager is preparing for “mega-tinderbox timebomb” event that will crash economy
Top hedge fund manager Mark Spitznagel has believed for some time that the U.S. economy, if not the global economy broadly, is in for a huge correction, and frankly, with the drums of World War III beating louder every day, it makes sense to assume he knows what he’s talking about. A piece published by The Wall […]
01/22/2023
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By JD Heyes
Crypto firm Genesis to become latest bankruptcy as industry continues to collapse
Another week, another major cryptocurrency firm is set to file for bankruptcy protection. As reported by Bloomberg News, Genesis Global Capital “is laying the groundwork for a bankruptcy filing as soon as this week, according to people with knowledge of the situation.” “The cryptocurrency lending unit of Digital Currency Group has been in confidential negotiations with various […]
01/11/2023
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By JD Heyes
Biden’s economy: After two years of Democratic economic policies, major companies continue to shed employees
The economy created by former President Donald Trump and, with some minor assistance, a GOP-controlled Congress (when the establishment RINOs weren’t fighting him as hard as Democrats) was top-notch, growing, and working for the vast majority of Americans. Then, along came February 2020, a presidential election year, and a Chinese-created virus that created a global […]
01/06/2023
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By JD Heyes
Crackdowns continue on crypto companies following arrest of Sam Bankman-Fried and FTX disaster
What many see as a long-awaited crackdown on cryptocurrency companies and exchanges finally appears to be in full swing after the arrest of former FTX CEO Sam Bankman-Fried and the mega-billion-dollar collapse of his company, allegedly thanks to massive fraud and theft of investor funds. On Thursday, New York Attorney General Letitia James became the latest […]
12/16/2022
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By JD Heyes
SEC to file additional charges against accused crypto fraudster and FTX boss Sam Bankman-Fried
As much trouble as Sam Bankman-Fried, the alleged crypto-fraudster and former CEO of now-defunct FTX, is in, thanks to charges being filed against him by the Justice Department, it’s not over yet for him. Now, the Securities and Exchange Commission is preparing to file additional charges against the accused thief and big-time Democratic donor, according to […]
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