Author: Steven Sahiounie

Investing domestically will help preserve wealth and aid the economy, according to the president Russian businesspeople should invest more in their own country in order to support the economy and preserve their own wealth, according to President Vladimir Putin. During his address to the Federal Assembly on Tuesday, Putin urged entrepreneurs who are currently faced with the “predatory behavior of the West” as a result of sanctions to not cling to the past and attempt to sue someone abroad. It is pointless to “run around with outstretched hands and humiliate yourself,” the president said, noting that he had warned them about such risks earlier.…

Hackers and cybercriminals have been targeting crypto investors with two new malware threats that scout the internet for unwary investors to steal their funds. According to a recent report by anti-malware software Malwarebytes, two new cybersecurity threats, which include recently discovered MortalKombat ransomware and a GO variant of the Laplas Clipper malware, have been deployed in campaigns aimed at stealing cryptocurrency from victims. The new phishing attack’s victims are predominantly located in the United States, with a smaller percentage of victims in the United Kingdom, Turkey, and the Philippines. The company’s threat intelligence research team, Cisco Talos, said they observed the criminal…

The Securities and Exchange Commission voted 4-1 on Wednesday to propose sweeping changes to federal regulations that would expand custody rules to include assets like crypto and require companies to gain or maintain registration in order to hold those customer assets. The proposed amendments to federal custody rules would “expand the scope” to include any client assets under the custody of an investment advisor. Current federal regulations only include assets like funds or securities, and require investment advisors, like Fidelity or Merrill Lynch, to hold those assets with a federal- or state-chartered bank, with a few highly specific exceptions. It would be…

To dismiss crypto because of its volatility will strengthen it “in terms of how it’s safeguarded,” the star of “The Matrix” argued. “The Matrix” star Keanu Reeves has become something of a crypto fan, calling cryptocurrencies “amazing tools for exchanges and distribution of resources.” In a recent interview with Wired to promote his new film “John Wick 4,” Reeves said, “I think the principle, the ideas behind an independent currency, are amazing,” adding that, “To pooh-pooh crypto, or the volatility of cryptocurrency, it’s only going to make it better in terms of how it’s safeguarded.” The 1999 film “The Matrix,” in which…

Crypto companies spent a record $21.55 million in 2022 on Washington lobbying, with major cryptocurrency exchange Coinbase leading the list. Last year’s spending was more than double the crypto industry’s lobbying outlay of $8.29 million for 2021, according to an analysis of disclosures by OpenSecrets, which rounded up disclosures from more than 50 industry players. The report revealed that Coinbase spent the most on lobbying, shelling out around $3.4 million in 2022. Blockchain Association, Crypto.com, Binance Holdings, and Ripple rank next in terms of their lobbying spending, each shelling out around $1.9 million, $1.2 million, $1.1 million, and $1 million, respectively. It…

Bitcoin, the world’s most valuable and well-known cryptocurrency, has once again seen a significant spike in price, surpassing the $24,000 mark for the first time in its history. This recent surge in Bitcoin’s value has caught the attention of investors and traders worldwide, and many are now wondering where the next target for BTC might be. The SEC’s Crypto Asset Examination Radar Is Heating Up: What To Expect In 2023 The US Securities and Exchange Commission (SEC) recently reaffirmed its commitment to safeguarding investors and ensuring compliance with federal securities laws and regulations. In its list of examination priorities released on February…

The move would see the retail giant completely withdraw from the country. Swedish company Ingka Group, the owner of IKEA stores and Mega shopping malls in Russia, plans to sell all its real estate in the country, RBK reported on Friday, citing sources in the retail market. According to the news outlet, the company has begun its search for a buyer for its entire real estate portfolio, which equates to more than 2.3 million square meters of property. That includes 14 Mega malls, 17 IKEA stores, and several plots of land on which construction was planned but has not yet…

The Spanish social affairs minister, Ione Belarra, has called on the government to bring down prices of basic products by introducing discounts, as food costs continue to rise in the country amid double-digit inflation. A reduction in value added tax (VAT, known in Spain as IVA) has proven insufficient as prices for essentials are still “the highest,” Belarra posted on Twitter on Thursday. She urged the ruling Spanish Socialist Workers’ Party (PSOE) to subsidize the basic consumer basket by 14%. The minister also proposed bringing prices down to levels seen prior to the conflict in Ukraine, adding that Spanish “families can’t wait any…

Spending on new cars in Russia more than halved last year due to the impact of Western sanctions and to surging prices, Reuters reported on Friday, citing analytical agency Autostat. The latest figures show that Russians spent 1.5 trillion rubles ($20.4 billion) or 52% less on new cars last year, while the number of new cars sold dropped by 58.8% as prices soared sharply, disrupting sales. Automobile production also slumped to its lowest since the early 1990s, the outlet said, as Western car makers halted production and sold factories. Russia’s automobile industry, which is heavily reliant on foreign investment and…

America is no longer as tempting a place of residence for the world’s wealthy as it was before the Covid-19 pandemic, a newly released Wealth Report by London-based immigration consultancy Henley & Partners has found. According to the report, inflows of high-net-worth individuals to the country dropped more than 80% last year compared with pre-pandemic levels. The figure fell to just 1,500 millionaires in 2022, from up to 10,800 between 2013 and 2019. The report states that “the country is losing its luster among migrating millionaires” and “the ‘American Dream’ is now on life-support.” The report also noted that the countries where…