facebookcollapse
searchengine
robotics
virtualreality
computing
cyberwar
glitch
market crash
02/10/2023
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By Cassie B.
Google shares lose $100 billion after new AI chatbot gives an incorrect answer in demo
Shares in Alphabet, the parent company of Google, fell by 7.7 percent on Wednesday, causing it to lose a remarkable $100 billion from its market value after its new AI chatbot gave an inaccurate response to a question in a public demo this week. Google’s new AI chatbot tool, which is known as Bard, has […]
01/26/2023
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By Belle Carter
NY Stock Exchange cancels early trades after glitch impacts 200+ stocks
The New York Stock Exchange (NYSE) canceled early trades Tuesday, Jan. 24, after a technical issue halted trading in more than 200 stocks. According to the exchange’s website, it “commenced continuous trading in 2,824 of 3,421 NYSE-listed securities without attempting to conduct an opening auction due to a technical issue.” The snag was “determined to be […]
01/24/2023
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By Roy Green
Crypto lender Genesis seeks bankruptcy protection in last-ditch attempt to stay afloat
Cryptocurrency lender Genesis Global Capital is debt-ridden and scrounging for funds to avert total collapse. Saddled with liabilities that could go as high as $10 billion, it filed for Chapter 11 bankruptcy protection in Manhattan, New York on Jan. 19. The beleaguered crypto firm joined the growing list of digital currency businesses going under as […]
01/23/2023
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By Ethan Huff
Dollar, crypto both failing as governments make way for new world reserve currency
The world is transitioning from a paradigm of Federal Reserve fiat currency dominance to what appears to be a gold-backed digital currency that will eventually serve as the new world reserve currency instead of the United States dollar. The BRICS (Brazil, Russia, India, China, and South Africa) nations have already announced plans to create this […]
01/11/2023
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By Arsenio Toledo
Cameron Winklevoss calls for Digital Currency Group CEO Barry Silbert to be removed, citing alleged lies about finances
Cameron Winklevoss, the co-founder of the cryptocurrency exchange Gemini, has penned an open letter calling for the removal of Barry Silbert as the CEO of the Digital Currency Group. The Digital Currency Group, or DCG, is a Stamford, Connecticut-based conglomerate that is the parent company of several high-profile cryptocurrency firms, including digital currency-focused news site CoinDesk […]
01/11/2023
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By Ethan Huff
Controlled demolition of global finance system sees failing cryptos, bank runs and soon, the unveiling of Central Bank Digital Currencies (CBDC)
Since the collapse of FTX, a number of other cryptocurrency trading firms now face serious problems indicative of malinvestment, bank runs, and other calamities that all point to a collapse of the global financial system – as well as its soon replacement with Central Bank Digital Currency (CBDC). A couple months back, Genesis Trading announced […]
01/11/2023
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By Kevin Hughes
Crypto lender Genesis Trading cuts workforce by 30% as FTX fallout spreads
Genesis Trading has reduced its workforce by 30 percent as it confronts increasing pressure from creditors and the impending threat of bankruptcy, a person with knowledge of the issue reported. The crypto lending arm of Barry Silbert’s Digital Currency Group (DCG) had already dismissed 20 percent of its labor force aside from replacing its CEO last year. […]
01/10/2023
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By Belle Carter
Report: 91% of altcoin projects following 2014 crypto collapse are now completely abandoned
Crypto website CoinKickoff recently released a report showing the failures of altcoin projects and the sustained success of bitcoin in an industry riddled with scams and frauds. Altcoin is an alternative digital currency to bitcoin that first appeared in 2011. Data revealed that 91 percent of coins created following the 2014 cryptocurrency market crash are now completely abandoned. A large […]
01/10/2023
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By Arsenio Toledo
HYPOCRISY: Federal Reserve warns banks against using crypto while planning to develop its own digital currency
The Federal Reserve along with other federal agencies have issued a joint statement warning banks against using cryptocurrencies just as the Fed is deliberating over possibly issuing a central bank digital currency (CBDC) in the United States. The Fed was joined in its statement by the Federal Deposit Insurance Corporation (FDIC) and the Office of […]
01/10/2023
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By News Editors
Corrupt and failing cryptos birth bank runs and contagion in advance of US central bank digital currency
A little less than 2 months ago I wrote an article entitled ‘Genesis Trading: Give Us at Least $1 Billion or We are Looking at Bankruptcy ’. Genesis had $175 million tied up in a FTX trading account. Then the parent of Genesis, DCG, gave the company an infusion of $140 million. Consequently two weeks […]
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