Jack Dorsey's $10M Donation To Decentralized Twitter Alternative Ends Up Funding Brazilian Fascist
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Jack Dorsey, co-founder of Twitter (now known as X), inadvertently funded a developer with ties to a Brazilian fascist through his $10 million donation to the decentralized social-media protocol. The recipient of Dorsey's funding, Giovanni Torres Parra (also known as Fiatjaf), is the founder of Nostr, a decentralized social-media protocol. Parra has created webpages dedicated to spreading the work of far-right conspiracy theorist Olavo de Carvalho. Despite the controversy, Dorsey remains a vocal advocate for Nostr, describing it as a 'truly open protocol' with a rapidly evolving development environment. Dorsey's funding included 14 Bitcoins worth approximately $245,000 and was provided to a foundation supporting Nostr and directly to Parra. Parra's political views, shaped by the Austrian school of economics, led him to create a decentralized protocol as an alternative to Twitter's increasing censorship. Dorsey has faced criticism as the 'face of censorship' at Twitter 1.0 and attributed the platform's censorship issues to its advertising-based business model. Earlier in May, Dorsey's company, Block Inc., addressed a potential Department of Justice investigation into transactions possibly linked to sanctioned countries.
#JackDorsey #Twitter #DecentralizedSocialMedia #Nostr #GiovanniTorresParra #Fiatjaf #OlavoDeCarvalho #Censorship #AustrianSchoolOfEconomics #BlockInc
Biden's Old '0% Inflation' Comment Comes Back To Bite As McKinsey Says New Biggest Splurge For US Consumers Is Groceries - Kroger (NYSE:KR), Walmart (NYSE:WMT)
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A recent CBS News poll shows that 39% of Americans believe the economy is "good," while 57% view it as "bad." President Joe Biden's claim of "zero inflation" in August 2022, when the consumer price index (CPI) reported 8.5% inflation, has received criticism. McKinsey & Co. found that groceries are now the biggest splurge category for Americans, surpassing eating out, travel, and beauty. Millennials are the most likely to consider groceries their biggest luxury. Some commentators find humor in the fact that groceries are the biggest splurge category amidst persistent inflation. The Alaska Permanent Fund, Warren Buffett's Berkshire Hathaway, and other funds have increased their stakes in Walmart and Kroger, the two largest grocery players in the US market.
#JoeBiden #Inflation #Economy #Groceries #Mckinsey #Kroger #Walmart
Biden Reaffirms 'Ironclad' Support For Israel Amid Passover, Hamas Conflict
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President Biden has reaffirmed his unwavering support for Israel amid the ongoing Israel-Hamas conflict, connecting the affirmation to the Jewish holiday of Passover. He expressed his commitment to the safety of the Jewish people, the security of Israel, and its right to exist as an independent Jewish state. Biden has also dedicated himself to pursuing a temporary ceasefire to secure the release of hostages held by Hamas. The conflict has been a major concern for the international community, with the U.S. actively involved in trying to broker a ceasefire and intensifying economic pressure on Iran in response to the attacks on Israel. The conflict has also had ripple effects on the global economy, with stock market futures dipping and oil prices surging. Additionally, the conflict has sparked reactions from prominent figures, including Elon Musk who criticized the use of U.S. tax dollars in the Israeli airstrike on Iran. The conflict has also led to protests within tech companies and the termination of employees who opposed the company’s Israeli government cloud contract.
#Israel #Hamas #Passover #Ceasefire #Hostages #Iran #GlobalEconomy #ElonMusk #Antisemitism #TechCompanies
Jim Cramer Says Just Go Buy Ethereum Or Bitcoin Instead Of Marathon Digital: 'Let's Not Fool Around'
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Jim Cramer, host of 'Mad Money,' advised against investing in Marathon Digital Holdings Inc. and instead recommended buying Ethereum or Bitcoin. Marathon Digital's stock has dropped by over 20% in the past month due to volatility in the cryptocurrency market. Cramer's advice aligns with the current state of the crypto market, with analysts highlighting the importance of Bitcoin's $62,000 support level. Despite concerns, Wall Street experts remain confident in the bull market's continuation. Cramer has also cautioned investors about market conditions that could lead to further decline.
#JimCramer #MarathonDigitalHoldingsInc #Bitcoin #Ethereum #CryptocurrencyMarket #Volatility #WallStreet #BullMarket
As Iran-Israel Tensions Fuel Bitcoin And Ethereum Volatility, Analyst Underscores Long-Term Perspective: 'I Don't Think This Crypto Cycle Is Done'
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Amid a volatile crypto market, analyst Alex Krüger advises caution and a long-term perspective. He cautions against becoming entangled in short-term fluctuations and emphasizes the need for traders to proceed with caution. Krüger believes that the current crypto cycle is not yet finished. Despite recent market downturns, Wall Street veterans remain optimistic about the persistence of the bull market. Bitcoin is currently valued at $63,873.30, with a year-to-date growth of 44.60%. Ethereum is priced at $3,090, with a year-to-date growth of 31.37%.
#Iran #Israel #Bitcoin #Ethereum #Cryptocurrency #Volatility #Trading #Market #BullMarket
Wall Street Experts Dismiss Rate Cut Fears, Middle East Tensions, Predict Bull Market's Continuation
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Despite recent concerns, Wall Street veterans are confident that the bull market will persist. The recent dip in the U.S. stock market was triggered by higher-than-expected inflation in March and escalating tensions in the Middle East. However, seasoned investors believe these concerns are temporary and that the bull market is far from over. They cite a robust U.S. economy and the potential of artificial intelligence (AI) as key drivers. James Demmert, CIO, sees the current correction as a 'buy-the-dip' moment and predicts a new bull market led by AI that can last for another 7-9 years. Wedbush Securities predicts that tech stocks will continue to soar, buoyed by strong Q1 corporate earnings and a projected surge in AI spending. Despite ongoing tensions in the Middle East, the bull market may weather these storms, driven by the strength of the U.S. economy and the potential of AI.
#WallStreet #BullMarket #RateCuts #MiddleEastTensions #ArtificialIntelligence
Cannabis Valuations 'More Mathematical, More Balance Sheet Driven' Than Before: Insights From Industry Experts
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Initial cannabis valuations were based on market potential, but now the focus has shifted towards operational efficiency and profitability. The industry is moving towards more financially sustainable practices and valuations are becoming more balance sheet driven. Legal and regulatory challenges also affect valuations. Technology is playing a transformative role in the cannabis industry, with companies leveraging technology to enhance operational capabilities and improve market reach. Technological advancements are becoming increasingly central in valuation discussions, particularly in optimizing supply chains and improving compliance protocols.
#Cannabis #Valuations #IndustryExperts #OperationalEfficiency #Profitability #LegalChallenges #Technology #SupplyChains #ComplianceProtocols
S&P 500 Due For 'Classic 10% Correction,' Wall Street Veteran Warns: Why They Expect Zero Rate Cuts In 2024
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Wall Street veteran investor Ed Yardeni predicts a 'classic 10% correction' for the S&P 500 index in the coming months. This prediction comes as markets digest a scenario where the U.S. economy avoids any hard or soft landing. Yardeni believes that the rise in Treasury yields reflects a growing investor belief that the Federal Reserve may maintain the current federal funds rate throughout the year. He expects the S&P 500 to test its 200-day moving average around 4,700, marking a potential 10% decline from recent highs. Yardeni also mentions that escalating geopolitical tensions in the Middle East and the ongoing conflict between Russia and Ukraine further complicate the situation. He states that investors may have to give up on expecting any rate cut this year.
#S&p500 #Correction #WallStreet #FederalReserve #TreasuryYields
High-Interest Rates Could Cause 'More Things To Break' In US Economy By 2025, Warns Strategist
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Altaf Kassam, the head of investment strategy in EMEA for State Street, has warned that the U.S. economy could face turbulence in 2025 if the Federal Reserve does not act on interest rates soon. Kassam expressed concerns that traditional monetary policy mechanisms have 'broken' and any changes made by the Fed would take longer to impact the real economy, potentially delaying significant shocks. He attributed this shift to two factors: U.S. consumers securing long-term, fixed-rate mortgages during the low-interest rate period of the Covid-19 era, and U.S. companies refinancing their debts at lower rates. The effects of sustained higher interest rates may not be felt until 2025 when a big wall of refinancing is due, potentially causing more things to break.
#UsEconomy #InterestRates #FederalReserve #Turbulence #MonetaryPolicy #Mortgages #Refinancing
BenQ Hospital Files For IPO As Business Looks Stable, But With Few Growth Spots
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BenQ Hospital has filed to list in Hong Kong, reporting its revenue rose 15% last year to 2.69 billion yuan. The hospital operator has two hospitals, Nanjing BenQ Hospital and Suzhou BenQ Hospital, with a total operating area of about 380,000 square meters and more than 900 doctors. BenQ's revenue has risen steadily over the last three years, from 2.22 billion yuan in 2021 to 2.69 billion yuan last year. The landscape for private hospitals in China is steadily improving, with the market expected to reach 16.2 trillion yuan in 2030. BenQ plans to use the IPO funds to expand and upgrade its existing facilities. However, the company lacks a major growth story beyond its two main hospitals to attract investors in the local stock market.
#BenqHospital #Ipo #HongKong #PrivateHospitals #HealthcareMarket
Potential iPhone Killer? Humane AI Pin's Design, Interface 'Inherently Flawed,' Says Gurman: 'Can Merely Be An Extra Accessory'
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The Humane AI Pin, priced at $700, was designed to be a smartphone alternative. However, Bloomberg columnist Mark Gurman says it doesn't have a future as a phone replacement or as an evolution of the computer. During testing, the device was slow to respond, failed to recognize touch gestures, overheated, and had a short battery life. Other flaws included the device not connecting to the cellular network, touchpad not registering input, and the laser projecting a faint vertical orange line instead of the normal green-colored interface. Gurman believes the device's fundamental design and interface are fatally flawed. He suggests that it may only be an extra accessory for tech and AI enthusiasts willing to spend a lot of money. Humane has refused to launch a smartphone app to help set up the device and access its data. Gurman believes that Humane may have a chance of surviving if it repositions the pin and lowers the price significantly.
#Iphone #HumaneAiPin #SmartphoneAlternative #DesignFlaws #Technology
Billionaire Mike Novogratz Sees 'Great Setup' For Bitcoin: 'Call Me Crazy But...'
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Billionaire Mike Novogratz, founder and CEO of Galaxy Digital, believes that Bitcoin and precious metals like gold and silver are poised for a surge fueled by potential interest rate cuts. He criticizes U.S. fiscal policy and calls for significant spending cuts. Novogratz anticipates the Federal Reserve to proceed with rate cuts despite the lack of solid reasons for doing so. He believes this is a great setup for BTC, gold, silver, and copper, but not for the USA. Novogratz warns of the social risks of rapid wealth accumulation in cryptocurrencies and the potential for societal strife. His perspectives on potential Federal Reserve actions and their implications for economic and societal dynamics will likely stimulate deep discussions among experts. These insights are particularly relevant as the financial and cryptocurrency sectors prepare for Benzinga's upcoming Future of Digital Assets conference on November 19.
#Bitcoin #MikeNovogratz #GalaxyDigital #InterestRateCuts #FiscalPolicy #Cryptocurrency #SocietalDynamics
US Military Strikes Houthi Air Defense And Drone Systems In Red Sea Region Amid Escalating Tensions
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The US military has launched strikes against Houthi air defense systems in Yemen, targeting their drone capabilities and safeguarding the Red Sea's shipping lanes. The US Central Command confirmed the elimination of a Houthi air defense system equipped with two missiles ready for launch, a ground control station, and an unmanned aerial system operating over the Red Sea. Houthi forces have acknowledged orchestrating attacks on vessels from Britain, the US, and Israel, causing disruptions to global shipping. The recent escalation is part of a broader conflict involving the US and Britain, who have both carried out strikes on Houthi positions in Yemen. The Houthis claim their actions are in response to Israel's military activities in Gaza.
#UsMilitary #Houthi #Yemen #RedSea #DroneSystems #AirDefense #EscalatingTensions
Trump's Niece Says Ex-President May Have Committed One Of His 'Biggest Mistakes' As Letitia James 'Closer To Liquidating Donald's Assets'
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Mary Trump, the niece of Donald Trump, claims that the insurance company providing the bond for Trump in the NY civil fraud case, Knight Specialty Insurance Company, is unlicensed in New York and has not been vetted by a state entity. She also mentions that New York Attorney General Letitia James is closer to liquidating Donald's assets and has a hearing scheduled for April 22. Mary Trump criticizes the double standards in her uncle's call for a judge's recusal and questions the propriety of a Supreme Court Justice remaining on the bench for Donald Trump's immunity case when his wife financed and attended a rally against President Joe Biden's victory. Mary Trump also comments on Donald Trump's comments about immigrants and his campaign's financing woes compared to the Democratic Party's investment of $186 million to take back the House. She highlights that the Democrats may have a strategic advantage over their Republican rivals. Mary Trump considers Donald Trump's video about the Roe v. Wade verdict as one of his biggest mistakes, as it has given Democrats a political ad. She notes that the Democrats plan to put abortion measures on the ballot in several states.
#DonaldTrump #LetitiaJames #MaryTrump #UsPolitics
Trump's Niece Says Ex-President May Have Committed One Of His 'Biggest Mistakes' As Letitia James 'Closer To Liquidating Donald's Assets'
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Mary Trump, the niece of Donald Trump, claims that the insurance company providing the bond for Trump in the NY civil fraud case, Knight Specialty Insurance Company, is unlicensed in New York and has not been vetted by a state entity. She also mentions that New York Attorney General Letitia James is closer to liquidating Donald's assets and has a hearing scheduled for April 22. Mary Trump criticizes the double standards in her uncle's call for a judge's recusal and questions the propriety of a Supreme Court Justice remaining on the bench for Donald Trump's immunity case when his wife financed and attended a rally against President Joe Biden's victory. Mary Trump also comments on Donald Trump's comments about immigrants and his campaign's financing woes compared to the Democratic Party's investment of $186 million to take back the House. She highlights that the Democrats may have a strategic advantage over their Republican rivals. Mary Trump considers Donald Trump's video about the Roe v. Wade verdict as one of his biggest mistakes, as it has given Democrats a political ad. She notes that the Democrats plan to put abortion measures on the ballot in several states.
#DonaldTrump #LetitiaJames #MaryTrump #UsPolitics
Peter Schiff Sees Jamie Dimon's Inflation Warning As 'Sugar Coating,' Predicts Graver Crisis
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Economist Peter Schiff echoes JPMorgan Chase CEO Jamie Dimon's inflation warning but predicts a more drastic scenario. Schiff believes Dimon is sugar coating the problem and that it's far worse than he publicly lets on. Dimon's warning was made in his annual letter to shareholders, expressing concerns about high inflation and interest rates due to excessive government spending in the U.S. These warnings come in the wake of Dimon's earlier comments acknowledging the U.S. economy as 'strong,' but also hinting at a possible recession. Robert Kiyosaki, author of 'Rich Dad Poor Dad,' also criticized the Biden administration's economic policies. The series of events highlights growing concerns about the U.S. economy and the potential for severe inflation.
#PeterSchiff #JamieDimon #Inflation #JpmorganChase #UsEconomy #GovernmentSpending #Recession #RobertKiyosaki
'Jerome Powell Is The Gaslighter-In-Chief': Analyst Slams Fed Chief For 'Reckless' Money Printing Amid Ballooning National Debt
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An analyst has criticized Federal Reserve Chairman Jerome Powell for 'reckless' money printing and referred to him as the 'gaslighter-in-chief' in relation to the growing national debt. The analyst expressed concerns over the unprecedented fiscal deficit and the inability of the Federal Reserve to control it. The criticism comes amid discussions on the economic direction under Powell's leadership. The analyst warned that the printing of money is causing debt and allowing Congress to spend recklessly, leading to inflation. Powell has signaled potential rate cuts within the year but has been cautious about implementing them. The analyst's concerns about the national debt and fiscal deficit echo those of other experts.
#JeromePowell #FederalReserve #NationalDebt #MoneyPrinting #FiscalDeficit #Inflation
Governor Greg Abbott Says 'US Economy Is Doing So Well Is Because The Texas Economy Is Doing So Well'
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Governor Greg Abbott, the Governor of Texas, claims that the US economy is thriving because of the strong performance of the Texas economy. He cites Texas's GDP growth outpacing the national average and the state's contribution of 49,800 jobs in February alone. Abbott also highlights a 72% reduction in illegal immigration in Texas. However, economists warn of potential recession indicators in the US economy, and the economic landscape is complex with mixed signals. While Texas's performance may be a significant factor, it is just one piece of the larger economic puzzle.
#GregAbbott #Texas #UsEconomy #GdpGrowth #Jobs #IllegalImmigration #RecessionIndicators
Pro Bitcoin President Javier Milei Blames 'Intellectually Dishonest' Argentinian Politicians For Sluggish Dollar Adoption: 'They Probably Would Have Accused Us Of Some Monkey, Shady Business'
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Javier Milei, the President of Argentina, attributes the slow transition to the U.S. dollar in the country to corrupt practices of politicians and economists. Milei, who took office in December 2023, has been advocating for the dollarization of Argentina's economy. However, he believes that the political climate in the country has hindered this process. Milei's plan to exchange the central bank's liabilities for dollars could have led to his impeachment. He describes the central bank's financial situation as 'bankrupt' and facing a 'fiscal, monetary, and currency disaster of extravagant proportions.' Milei's strategy aimed at revitalizing Argentina's economy and improving the central bank's financial standing involved embracing the greenback. However, he believes that the contentious political climate within the country would have accused him of fraud and sent him to prison if he had engaged in that sort of transaction. Milei's presidency has been marked by bold economic reforms, including implementing radical austerity measures without legislative approval and engaging in discussions with the IMF for a new program. Argentina has long been plagued by corruption in its political and corporate arenas. Milei had emphasized the need to combat corruption and reform the Argentine economy during his presidential campaign.
#JavierMilei #Argentina #Dollarization #Corruption #EconomicReforms