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Thursday, 11 August 08:47 (GMT -05:00)

Business And Politics News

SEC Announces $10M Bounty For Whistle Blowers

The U.S. Securities and Exchange Commission (SEC) announced a bounty for a person providing proven financial violations. This time, the whistle-blower can get as much as 10 million dollars for contributing to disguising major financial violations in the corporate sector. However, the regulator didn't disclose all of the details of the deal but  mentioned that that was mostly about financial fraud.
In particular, the person contributed a lot to the investigation which boiled down to identifying witnesses and figuring out the most complicated parts of the fraud scheme.
Since such bounties were introduced in 2012, the SEC has already paid around 250 million dollars as bounties to their whistle-blowers (94 people to be more specific). The payments are made from the investor security fund created by the Congress and financed at the expense of the fines paid by the violators. It's important to note that such bounties are newer paid at the expense of victims.
The regulator reported that the whistle-blowers awared with bounties have been provising the SEC with proven and reliable information leading to legal prosecution. The bounty may vary from 10% to 30% of the penalty paid by the violator if the amount is over 1 million dollars.
In June 2020, the SEC paid 50 million dollars to another whistle-blower contributing to punishing the scammers and returning a considerable amount of the stolen money back to the victim investors. This was the biggest bounty ever paid by the SEC, outpacing the 39-million-dollar bounty paid in 2018.
A similar bounty system is used by the second major U.S. financial regulator, the CFTC. The regulator has already paid 120 million dollars in bounties.


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Raygan's Former Advisor Accuses the Fed of a Big Fraud

The former budget advisor under Ronal Raygan's administration, of the founders of the so-called Rayganomics, David Stockman, is a big adversary of the Federal Reserve's policies. He thinks that artificial interest rate cuts coupled with uncontrolled QE (money printing) creates madness in financial markets, thus separating asset evaluation from their intrinsic value of those assets.

Publication date: 23 August 07:32 AM

U.S. Labor Market Disappoints, Economy Slows Down

The employment rate in the United States increased by 167.000 people in July 2020. It's important to mention the fact that the data came in much worse than expected. According to Reuters, this increase was expected to reach 1.5 million people. At the same time, July's figures were much worse than those revealed in June 2020.

Publication date: 06 August 10:06 AM

iPhone as a Payment Terminal: Apple Bought a Startup For That

Apple has recently acquired Mobeewave, a startup specializing in online payments. The price of the deal is 100 million dollars. According to Bloomberg, the company's technology may allow Apple to turn iPhones into mobile payment terminals accepting mobile payments. To be more specific, Mobeewave developed a technology making it possible to make financial transactions between mobile devices through the built-in NFC module.
Publication date: 05 August 09:27 AM

China Makes Blockchain Professions Official

There are 1838 officially recognized professions in China. Now, there list is up by 2 professions - blockchain engineer and blockchain app operator. The Chinese Ministry of Human Resources and Social Security (MOHRSS) has recently confirmed that by updating the list of official professions.
Publication date: 20 July 11:42 AM

South Korea Invests Billions In Blockchain Technologies

By 2025, South Korea is planning to invest over 48 billion dollars in  blockchain. The goal is to digitize all of the industrial sectors of the national economy in this post-pandemic era. According to ZDNet Korea, the president highly rated some of the benefits this process may bring to South Korea.

Publication date: 18 July 09:40 AM

Black Lives Matter - Investors Keep Ignoring Major Riot In US In 50 Years. Why?

Everyone has probably heard of the #BlackLivesMatter riots, which have been going on in the United States for a while. However, international financial markets seem to have been underestimating this event, which happens to be the biggest riots in the USA in 50 years! Why is that?

Publication date: 18 June 07:56 AM

Donald Trump Influences Bitcoin Exchange Rate

Publication date: 05 June 04:42 AM

Only 4 Of All Existing Billionaires Made Their Fortunes With Cryptocurrencies

Forbes has recently published the list of 2095 billionaires from different parts of the world. It turns out that 4 of them owe it to cryptocurrencies. Who they are, the cryptocurrency billionaires?
Publication date: 13 April 11:54 AM

Life After Brexit: EU-UK Talks Are Underway

Publication date: 07 March 09:03 AM

USA May Take Steps To Support National Economy After COVID-19 Pandemic

Publication date: 07 March 08:15 AM