Month: September 2023

World’s Fastest Growing Economy Could Expand More than 100% Over Next Five Years

Guyana was the world’s fastest growing economy for 2022 and is expected to retain the title until 2025 as oil production increases. According to a recent GDP forecast from the International Monetary Fund, Guyana is expected to grow at impressive rates over the next few years. Currently the world’s fastest-growing economy, the South American country is likely to record more than 100% growth by 2028. Most of Guyana’s income comes from oil production and export. Among other factors, this forms the basis of the IMF’s projection as recorded in a…

CIA to build its own Chat-GPT-style AI bot for investigations: Report

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According to a Bloomberg report, the CIA plans to equip its analysts with the new AI tool to better access open-source intelligence. This includes sifting through public information for leads in investigations. Agency officials said they intend to roll out the tool “soon.” Randy Nixon, the director of the division, told Bloomberg that they have gone from utilizing, “newspapers and radio, to newspapers and television, to newspapers and cable television, to basic internet, to big data, and it just keeps going.” The development comes after critics have called the current…

Franklin Templeton Joins Race for Spot Bitcoin ETF

According to the filing, Coinbase will securely hold and manage the actual Bitcoin assets that underpin the ETF. The company has also confirmed that the Bitcoin ETF will be listed and traded on the Cboe BZX Exchange, Inc. Franklin Templeton, an asset management company, has entered the competition among companies aiming to offer spot Bitcoin ETFs. This was made known through a September 12 filing with the Securities and Exchange Commission (SEC). According to the filing, Coinbase will securely hold and manage the actual Bitcoin assets that underpin the ETF.…

Pressure Mounts on SEC’s Gensler as US House Lawmakers Request ‘Immediate’ Approval of Spot Bitcoin ETF

Bitcoin ETFs provide an easy way for investors to put their funds into the cryptocurrency market. The crypto industry is rife with anticipation for the Securities and Exchange Commission (SEC) to approve spot Bitcoin exchange-traded fund (ETF) applications. However, the extended clamor may now have the right backing as four members of the House Financial Services Committee – two from each party – have just written a letter to that effect. In the Tuesday letter obtained by Coinspeaker, the lawmakers – including Rep. Tom Emmer, the majority whip in the…

Solana Bulls Struggle To Break $21 Barrier

Solana (SOL) has found itself in the midst of a price battle, with neither bulls nor bears able to establish dominance. The daily charts have revealed a story of indecisiveness, characterized by the formation of neutral doji candles. This hesitation in price movement follows a previous sharp decline, indicating that the bearish momentum is losing steam. Despite the cautious optimism among bulls, the recent price action has been far from encouraging. The $21 resistance level proved to be a formidable barrier that buyers struggled to breach. This resistance level has…

Costco Posts Strong Q4 2023 Earnings despite Changing Shopping Patterns

Over the past three years, Costco has gained momentum, benefiting from trends such as increased home cooking, millennials moving into larger suburban homes, and inflation driving shoppers to seek value through memberships at warehouse clubs. Membership-based retail giant Costco Wholesale Corp (NASDAQ: COST) recently announced its quarterly earnings and the results were nothing short of impressive. Costco Earnings Surpasses Expectations Costco’s fiscal fourth-quarter earnings have surprised analysts and investors alike. The company reported earnings per share of $4.86, surpassing the expected $4.79 per share. Additionally, Costco’s revenue for the quarter…

Binance still struggling to find banking partner in France: Report

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After losing its euro banking partner, Paysafe, Binance France has proposed that its customers immediately convert all the fiat money they hold on the exchange into crypto, according to comments from an executive to local media.  The partnership between Binance France and Paysafe expired on Sept. 25. The latter supported Binance’s French subsidiary with infrastructure for euro deposits and withdrawals via SEPA bank transfers. The end of the partnership was announced in late June, but Binance France still has not found a new partner. Related: CZ appoints Binance security team…

Sam Bankman-Fried Can Grill Former FTX Insiders on Drug Use in Court

They also asked the judge to let Bankman-Fried travel to his attorneys’ workspaces during the trial itself because it was “exceedingly difficult” to prepare for the trial from jail. The security guard, who the lawyers say will remain with Bankman-Fried at the residence, will also make sure he doesn’t have any visitors or access to any computers, cell phones, the internet, television or any other electronic devices, the letter said. Source

Gemini to Inject $24M in India to Enhance Its Infrastructure Development Plan at Gurgaon

Gemini began its venture into the Indian market earlier this year after it announced the opening of its second-largest office in Gurgaon. One of the globally top-rated centralized cryptocurrency exchanges, Gemini Trust Company LLC, has announced plans to inject up to INR 200 crore, or about $24 million, into the economy of India in the next two years. According to the announcement, Gemini plans to grow its development center in Gurgaon into its second-largest office after the United States headquarters. In April this year, Gemini announced the opening of the…

Writer’s Guild strike ends with tentative deal approved, AI key negotiation

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The Writer’s Guild of America (WGA) strike is set to officially end as leaders approved a tentative deal with entertainment studios in Hollywood, part of which includes artificial intelligence (AI) usage in the industry. After nearly five months, the strike, which began on May 2, 2023, was pronounced over at 12:01 am PT on Wednesday, Sept. 27, 2023, as reported by Deadline. One of the major argument points of the WGA, aside from higher wages and fairer contracts, was in regard to AI practices and implementation. In August, Hollywood studios sent…