Kevin O’Leary Is Still Trying To Sell The ‘It’s Binance’s Fault’ Narrative
While the fallen crypto exchange FTX and its disgraced former CEO Sam Bankman-Fried are serving flashbacks of Bernie Madoff and his Ponzi scheme, Shark Tank investor and crypto hypeman Kevin “Mr. Wonderful” O’Leary has apparently made the firm decision to stick to the “it’s Binance’s fault” narrative. O’Leary appeared Wednesday at the Senate Committee on […]
Are Copper Prices Going to Rip in 2023?
Copper has long been known for being an indicator of economic health, its price seemed to be able to predict turning points of the business cycle like it has a Ph. D. in economics — and thus earning the nickname ‘Dr. Copper.’ When the red metal’s prices are high, it’s usually an indicator of vibrant […]
Ghana Claims Burkina Faso Paid Russia With A Mine To Fight Local Insurgency
Ghanaian President Nana Akufo-Addo said that the government of neighboring Burkina Faso gave Russian mercenaries a mine in exchange for assistance in fighting an insurgency in their country. The African leader raised the claims at the US-Africa Leaders Summit in Washington DC in a meeting with US Secretary of State Antony Blinken on Wednesday. Akufo-Addo […]
The OSC Gave Up on CannTrust
Ontario’s securities Watchdog, pictured here in hot pursuit of CannTrust executives doing fraud. Best-in-class financial columnist Matt Levine frequently points out that, if a company is a reporting issuer, then anything a company does, but isn’t supposed to do, that causes a sudden or even gradual drop in its stock price, can be considered securities […]
Zack Morris And Gang Face Potential 25 Years In Jail For $114 Million “Pump And Dump” Scheme
However, the leader of the “Goblin Gang” is reportedly out on bail. A federal grand jury in the Southern District of Texas delivered an indictment yesterday charging eight social media personalities led by Zack Morris with conspiracy to commit securities fraud in connection with a long-running, social media-based “pump and dump” operation. The Department of […]
Elon Musk Sells Tesla Stock Again: 22 Million Shares For $3.58 Billion
Tesla (Nasdaq: TSLA) Elon Musk sold a total of 22 million shares worth $3.58 billion in the electric-vehicle maker in the past three days, according to an SEC filing on Wednesday. This follows the chief executive selling 19.5 million Tesla shares over the three market days in November, generating cumulative gross proceeds of $3.9 billion. This brings the […]
After Suggesting Self-Custody, Binance CEO Changpeng Zhao Now Believes 99% Will Fail At It
Binance CEO Changpeng Zhao has stated that customers are more likely to lose cryptocurrency by storing it in a cold wallet rather than storing it on a centralized exchange. “For most people, for 99% of people today, asking them to hold crypto on their own, they will end up losing it,” he said in a […]
More Pain Coming: Fed Isn’t Going to Cut Rates Until 2024
As widely expected, the Fed hiked rates half a percentage point on Wednesday, bringing the feds fund rate to the highest since December 2007. However, FOMC members signalled there is more pain to come, with projections of imminent hikes lessening the chances of a soft landing. “Inflation data received so far for October and November […]
Jerome Powell Hikes Rates 50 Basis Points, Signals More Hawkish Tightening
As widely expected, central bank officials raised borrowing costs another 50 basis points, bringing the Federal Reserve’s target range between 4.25% and 4.5%, whilst signalling more, and higher, rate hikes are imminent. Since last month’s hawkish FOMC meeting, markets anticipated a more relaxed monetary stance from the Federal Reserve, one that would bring no more […]
Tesla Taking A Hit As Elon Musk Focuses On Twitter
Tesla stock has dropped 28% since October 27, when CEO Elon Musk purchased and took over Twitter. Tesla (Nasdaq: TSLA) shares finished at $160.95 on Tuesday, down more than 4% on the day. It was a rare exception among growth-oriented tech equities, which mainly climbed after inflation rate hit below than expected. Since October 27, […]