Fundstrat’s Tom Lee says markets are getting a boost from $6 trillion that’s been sitting on the sidelines. In a new interview on CNBC’s Squawk Box, Lee says that the massive amounts of liquidity at the ready may now be more relevant for determining whether markets remain in an uptrend than macroeconomic data. “We’ve kind […]
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The lessons from recent hurricanes shouldn't be ignored. It’s time to upgrade internet infrastructure and position people to achieve financial sophistication.
Hurricanes and other natural disasters remind us that our ambitious human efforts to build financial technologies and new forms of digital money can easily be rendered futile. Paying for Uber rides with a contactless card, trading Bitcoin, and using Venmo and Cash App to make purchases can often be a mechanical, effortless exercise. In a disaster zone, however, all of this is vanity. Surviving natural disasters requires citizens to spend money on food, water, and other basic necessities — and doing that without cash on hand is an unexpected and impossible dilemma.
When natural disasters shatter banks and power grids, how do citizens in the storm’s path of destruction transact? How should communities prepare for financial meltdowns precipitated by Mother Nature?
Natural disasters not only cause widespread destruction and trauma, they drive local economies to a dead halt. Based on survey evidence, Pew Research Center concluded that seven in 10 Americans (72%) reported at least one personal experience with extreme weather in 2024. The Federal Emergency Management Agency (FEMA) also reported that 81 major disaster declarations have already been made in 2024 so far, which is double the number that was recorded two years ago.
Police in a major US city are looking for suspects as reports of people receiving fake $100 bills spread across the community. Authorities in Clare, Michigan say at least five phony $100 bills were discovered inside an Isabella Bank branch, reports Newsradio WSGW. The bills all carry the same phony serial number and were deposited […]
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Customers at American Express, JPMorgan Chase and Capital One have racked up billions of dollars in unspent credit card points – but the value of those rewards is decaying. The financial giants’ customers are sitting on a staggering $34 billion worth of unused rewards as of 2023, reports the Wall Street Journal, citing annual reports. […]
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Energy giants are preparing to pay $50 million to settle allegations that they conspired to fix the price of gas. Vitol, SK Energy Americas and its parent company SK Trading International are accused of working together to raise the price of gas in violation of California’s Cartwright Act and Unfair Competition Law. Without admitting wrongdoing, […]
The post $37,500,000 To Be Handed To People Who Bought Gas in Specific Place and Time As Energy Giants Settle Conspiracy Case appeared first on The Daily Hodl.
Bidders have pushed the price for a rare US dime to a staggering $250,000 – and they’re likely just getting started. If past is prologue, the online auction for this 1975 dime will close at more than half a million dollars when it ends on October 27th. The rare dime is missing the letter “S”, […]
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A popular streaming platform just agreed to pay millions of dollars to customers in a privacy settlement deal. The streaming service Tubi will pay $19.99 million after facing accusations that the company shared people’s private information without consent. The terms of the settlement apply to people who used Tubi between June 23rd, 2021, and August […]
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One of the most populated counties in the US is launching a guaranteed income pilot program aimed at helping families in need. Known as the Family First Economic Support Pilot, Sacramento County’s Department of Child, Family and Adult Services (DCFAS) says $1.74 million will be disbursed to chosen applicants over the course of a year. […]
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A growing number of US banks are accused of routinely misleading customers in a push to pocket billions of dollars. JPMorgan Chase is now facing a proposed class action lawsuit for allegedly shifting customers’ idle cash into accounts with extremely low interest rates without proper disclosure. The bank joins Wells Fargo, Bank of America and […]
The post JPMorgan Chase, Bank of America and Wells Fargo Allegedly Reap Billions of Dollars on Backs of Misled Customers As Lawsuits Hit Multiple Financial Giants appeared first on The Daily Hodl.
Cybersecurity researchers say scammers have found a sophisticated way to drain bank accounts directly from ATMs – without needing a debit card in hand. Experts at the cybersecurity software firm ESET say they’ve discovered a dangerous and unprecedented type of malware they’re calling NGate. To begin the attack, scammers deploy a phishing technique to embed […]
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