Inflation Rate Rises as Fed Takes Closer Look
With gas prices skyrocketing and housing costs through the roof, the various stimulus programs throughout the pandemic, record spending by the government, and disrupted supply chains raising costs of goods, it is unsurprising that the annual U.S. inflation rate jumped to 6.2% in October - the highest rate since 1990. Should Americans be worried? Is there anything that can be done to halt the inflation?
Bipartisan Infrastructure Bill: Its Impact on Cryptocurrency Investors
The bipartisan infrastructure bill has been signed into law recently and features new rules regarding one of the hottest investments right now, cryptocurrency! In the eyes of cryptocurrency users and investors, these new regulations are not at all appealing. These new regulations pertain to, of course, taxes! The bill implements new rules when it comes to taxes and reporting gains to the IRS.
JPMorgan sues Tesla over Musk Tweets
On Monday, November 15, JPMorgan Chase sued Tesla for $162 million, accusing the electric car company of breaching a contract regarding payments to the banking giant.
Union for John Deere Workers Reaches Deal
On Saturday, the United Automobile Workers (UAW) announced that they reached a deal with Deere & Company. This could end a nationwide strike that has been going on since mid-October. The deal still has to be approved by the union’s members.
Cryptocurrency: A Guide
Cryptocurrency is a medium of exchange, like the US dollar, and it is based on “blockchain technology.” Blockchain technology is what makes cryptocurrency so unique and allows for the recording of transactions such as sending and receiving digital assets.
S.E.C. Releases Long Awaited GameStop Report
In January, GameStop’s share price dramatically increased as a result of investors on the forum WallStreetBets. Panic ensued, and there were calls for more regulation as retail investors demanded to be given back access to the market after Robinhood stopped trading the stock temporarily.
Pressures on Facebook Grow in Outage
On Monday, October 4, Facebook, Whatsapp, and Instagram experienced a prolonged outage. The five hour outage resulted in share prices dropping by 4.8%, decreasing Zuckerberg’s wealth by $5.9 billion. His current wealth is now $117 billion, making him the world’s sixth richest person, according to Forbes.
China Bans All Cryptocurrency Transactions
On Friday, September 24, China’s central bank, one of its most powerful institutions, continued its crackdown on crypto-currency as it released a ban on all transactions and mining. China is one of the biggest markets for cryptocurrencies, and the price of Bitcoin fell by more than $2000 after the announcement.
Update on El Salvador’s Bitcoin Adoption
As cryptocurrency becomes more mainstream, both supporters and critics have asked the question of whether it will become officially endorsed by a country? El Salvador officially adopted bitcoin as a means of currency.
NFTs – What is all the hype about?
NFTs are blowing up and the ultra rich are all over them. You might have heard of Grimes getting millions of dollars for one. A website that hosts auctions of NFTs, Mintable, is even endorsed by Mark Cuban.