Month: January 2024

IMF Warns AI Can Worsen Global Inequality Eating 40% of Jobs

The IMF has also warned that AI could further broaden income and wealth inequality among countries. AI benefits and challenges would be key points of discussion at World Economic Forum (WEF) meeting in Davos. The International Monetary Fund (IMF) issued a cautionary statement, indicating that the proliferation of artificial intelligence (AI) could impact nearly 40% of jobs worldwide. The assessment, released on Sunday from the Washington D.C.-based institution, highlighted that high-income economies face more significant risks compared to emerging markets and low-income nations. The IMF, led by Chief Kristalina Georgieva,…

Bitcoin supporter Ramaswamy quits US presidential race

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Bitcoin (BTC) supporter Vivek Ramaswamy has officially dropped out of the race for the U.S. presidency. In a post on Jan. 16, Vivek Ramaswamy publicly endorsed Donald Trump’s candidacy, noting in his departure that the United States needs a patriot focused on America. This entire campaign is about speaking the TRUTH. We did not achieve our goal tonight & we need an America-First patriot in the White House. The people spoke loud & clear about who they want. Tonight I am suspending my campaign and endorsing Donald J. Trump and…

Two home improvement companies fined a total of £250,000 for making illegal marketing calls

The Information Commissioner’s Office (ICO) has fined two home improvement companies a total of £250,000 for bombarding people on the UK’s ‘do not call’ register with millions of unlawful marketing calls. Poxell Ltd, registered in Wood Green, London, and Skean Homes Ltd, based in Bournemouth, both made unsolicited marketing calls to people registered with the Telephone Preference Service (TPS) while withholding their identity. Poxell Ltd has been fined £150,000 by the ICO for making over 2.6 million unlawful marketing calls between March and July 2022 to people who had registered…

Stablecoin Takeover? Record Tether 71% Dominance Raises Questions About Crypto Future

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Tether, the issuer of the ubiquitous USDT stablecoin, cemented its dominance in 2023, ballooning its market share to a staggering 71%. This explosive growth, however, comes with a chilling undercurrent: a United Nations report linking USDT to a surge in cybercrime and money laundering in Southeast Asia. Glassnode data paints a stark picture of Tether’s ascent. Its market capitalization reached a record $95 billion in January 2024, fueled by a 40% increase in USDT supply over the past year. Meanwhile, competitors like Circle’s USDC saw their market share shrink, with…

Spot Bitcoin ETF jitters force Dogecoin and Shiba Inu lower, this alternative is solid

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Dogecoin, Bitcoin, and Shiba Inu are entering a cooling period following the initial surge after historic ETF approval. NuggetRush (NUGX) continues to surge in its presale, raising over $1.6 million with its vision for the crypto gaming scene garnering interest. Dogecoin and Shiba Inu (SHIB) are pure meme coins, while NUGX seeks to revamp the meme coin sector.  The United States Security and Exchange Commission (SEC) caused waves among…

BRC-20 trading volumes surge 10x since November 2023, data shows

Trade volume for BRC-20 tokens increased $10-15 million to more than $500 million since November 2023, as per data from Kaiko. Tokens minted on the Bitcoin blockchain are gaining momentum as their trading volumes increased by ten times since the end of 2023, according to Kaiko data. In a report on Jan. 15, the Paris-based analytics blockchain firm revealed that trading volumes for BRC-20 tokens skyrocketed from $10 million in November 2023 to more than $500 million in January, attributing the increase to Binance, which recently launched spot and perpetual…

BTC and CBDCs have potential to ‘de-dollarize’ world, says Morgan Stanley

Experts at the investment bank Morgan Stanley believe that Bitcoin (BTC) and CBDCs can challenge the dollar. In a new Morgan Stanley report, analysts indicate that BTC could put the U.S. dollar ahead as a global currency, which accounts for about 60% of international foreign exchange reserves. Morgan Stanley’s head of digital assets, Andrew Peel, notes that this shift is significantly accelerated by the SEC approving a list of spot Bitcoin ETFs in the United States, with weekly inflows into new products exceeding $1.18 billion. Apart from this, BTC has…

Elon Musk and Other 4 World’s Wealthiest Men Double Their Fortune in 3 Years

Meanwhile, Oxfam revealed that across 52 countries, the average real wages of nearly 800 million workers have fallen, resulting in a combined loss of $1.5 trillion over the last two years. According to a new report by Oxfam, a global organization dedicated to combating inequality and ending poverty, the combined wealth of the world’s top five wealthiest men has more than doubled from $405 billion in March 2020 to $869 billion in November 2023.  The report was published on January 15, just on the day when the World Economic Forum…