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Five things to know about the Silicon Valley Bank takeover The federal government took over Silicon Valley Bank (SVB) over the weekend and announced it would insure 100 percent of deposits in a bank that caters to venture capitalists and high-tech startups. The Treasury Department announced Sunday night that the Federal Deposit Insurance Corporation (FDIC)…
Biden approves controversial oil drilling project in Alaska The Biden administration on Monday approved a massive drilling project in Alaska, allowing oil company ConocoPhillips to move ahead with the 30-year project over objections from environmental groups. While not a surprise, the move to greenlight the Willow Project is expected to rankle President Biden’s liberal and climate-minded allies, who…
” 11 classic memes that have been sold as NFTs “ Nonfungible token (NFT) memes have brought mainstream attention to the world of NFTs and digital art, helping to expand the market and increase its legitimacy. The high prices paid for some NFT memes have demonstrated the value of online culture and the emotional connection…
” ‘Nobody left to bank crypto companies’ — Crypto Twitter reacts “ Crypto companies could find it harder to access traditional banking partners with the loss of two major crypto-friendly banks in less than a week, according to some in the crypto community. On Mar. 12, the Federal Reserve announced the closure of Signature Bank…
” How and why do stablecoins depeg? “ Stablecoins are a type of cryptocurrency designed to have a stable value relative to a specific asset or a basket of assets, typically a fiat currency such as the U.S. dollar, euro or Japanese yen. Stablecoins are designed to offer a “stable” store of value and medium…
Pence says Jan. 6 was ‘disgrace’ and ‘history will hold Trump accountable’ Former Vice President Mike Pence said late Saturday that “history will hold Donald Trump accountable” for the events of Jan. 6, 2021, levying harsh criticism on the former president as Pence mulls a 2024 White House bid. “President Trump was wrong,” Pence said…
Biden’s $5 trillion tax gambit catches Congress by surprise President Biden went big in his $6.8 trillion annual budget proposal to Congress by calling for $5 trillion in tax increases over the next decade, more than what lawmakers expected after the president downplayed his tax agenda in earlier meetings. It’s a risky move for the…
Hutchinson calls Manhattan probe ‘a distraction,’ says Trump should end 2024 bid if indicted Former Arkansas Gov. Asa Hutchinson (R) this week warned that former President Trump’s legal troubles could become a “distraction” for the 2024 contender, especially if indicted. “It’s out of respect for the institution of the presidency of the United States,” Hutchinson…
White House brands Freedom Caucus deficit plan as ‘tax breaks for the super wealthy’ The White House branded the House Freedom Caucus’ deficit plan as “tax breaks for the super wealthy and wasteful spending for special interests,” as the two sides continued to trade jabs amid an escalating debt ceiling battle. “MAGA House Republicans are…
Walgreens gets dragged into abortion war Walgreens, the nation’s second-largest pharmacy chain, has found itself embroiled in the abortion battle after confirming that they will not dispense abortion pills in certain states, even in some where it’s still legal to do so. The move has churned up a storm of political outrage in Congress and…