Three Arrows Capital: Is The Crypto-Based Hedge Fund Headed Towards Insolvency?
The cryptosphere can’t seem to catch a break. This week, Singapore-based Three Arrows Capital or 3AC has reportedly been liquidated by its lenders and may be facing insolvency. In a report by The Block that cites “well-placed sources,” 3AC “is in the process of figuring out how to repay lenders and other counter-parties after it […]
White House: Oil Companies Have A “Patriotic Duty” To Increase Production
The White House continues to go after oil refineries, pointing out that they a patriotic duty to stop “taking advantage of the war,” as profits continue to rise with the prices. US President Joe Biden earlier wrote to seven large integrated refinery operators and called their profits “not acceptable” and threatened to use emergency powers […]
Swarmio Poised To Reduce Gaming Lag By 80% With Newly-Launched Gamer Network Solution
In what could be a monumental stride in the gaming community, Swarmio Media (CSE: SWRM) announces the launch of its subscription-based gamer network solution, Lagless. Latency in gaming, often referred to as ‘lag’, is a common problem for users who like their games streaming without interruptions. Using Swarmio’s Latency-optimized Edge Computing infrastructure and further intelligent network […]
#CryptoLeaks Isn’t Happening, But Not Without Its “Hacker” Leaving An Eerie Farewell
Trigger warning: suicide Remember the Twitter account @adyingnobody who promised to leak a massive 137-gigabyte worth of Telegram chats around alleged malicious activities involving crypto personalities? Well, on the eve of their supposed first wave of leaks, they made a self-transfer of Ethereum with an eerie farewell note announcing that the leak was a hoax. […]
Biden Demands More Oil Production, Records Already Show Increasing Local Supply
From banning oil production to demanding more oil production; from releasing strategic reserves to forming European cartels–US President Joe Biden’s policy on addressing the consistently rising oil prices seems to be more on throwing everything to see what would stick. Demanding production boost, records show increasing output Now, the White House circled back to its […]
Home Sales Falls Further In May: 8.6% From April, 21.7% Year-On-Year
Latest statistics from the Canadian Real Estate Association (CREA) show home sales continuing the downward trend, falling 8.6% month-on-month in May. This brings the market activity closer to its pre-pandemic levels. Non-seasonally adjusted home sales also fell 21.7% from the same period last year, selling 53,720 houses compared to 68,598 units in May 2021. “May […]
Novo Resources Plummets 26% As It Expects Up To 18-Month Production Hiatus At Beatons Creek
Novo Resources Corp. (TSX: NVO) announced on Tuesday that it is expecting a production pause of around 12-18 months at Beatons Creek. This is due to a series of challenges faced in defining the oxide mineral resource at the site and the marginal cashflow delivered by mined grade so far. Based on the firm’s three-phase […]
Kinross Recovered Slightly More Than Half Of Its Losses From Russian Asset Sale
Kinross Gold Corporation (TSX: K) finally closed its Russian chapter on Wednesday when it completed the previously announced sale of 100% of its assets in the country, supposedly including the Kupol mine and the Udinsk development project. The total consideration for the transaction is US$340 million. In its Q1 2022 financials, the firm recorded a […]
75 BASIS-POINTS: Fed Embarks on Biggest Hike Since 1994 to Tame Inflation
In an attempt to preserve its rapidly-plummeting credibility, the Fed hiked rates by a shocking 75 basis points, as inflation continues to spiral out of control to no avail. Following the completion of the FOMC’s two-day meeting, the Fed decided to raise its overnight rate to 1.75%, signalling it is “strongly committed” to tackling inflation. […]
Bill Gates: Cryptocurrencies are ‘Based on Greater Fool Theory’
Microsoft cofounder and billionaire Bill Gates continues to throw shade at cryptocurrencies and NFTs, scoffing that they are merely worthless assets that only have value as long as traders are inclined to bid them higher. With bitcoin and other major digital assets undergoing a sharp slide amid a broader crypto market downturn, Gates took a […]