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Donald Trump reported losses consecutively on his tax returns for a decade, according to reported testimony of his former accountant.
What Happened: Trump’s erstwhile accountant, Donald Bender, said that the former U.S. president reported losses from 2009 to 2018, reported The New York Post.
Bender, a partner at accounting company Mazars USA, reportedly made the disclosure when he took the stand in Manhattan Supreme Court on Tuesday as part of a tax fraud trial involving Trump’s company.
In 2009 and 2010 alone, Trump reported losing close to $1 billion, said The New York Post report.
See Also: Trump Lawyer Gets Roasted By Appeals Court Over Special Master Appointment: 'What Are We Doing Here?'
Why It Matters: Bender’s testimony revealed details about Trump’s taxes, which the former president strived to keep under wraps, noted the report.
Mazars prepared The Trump Organization’s taxes until February after discovering that statements made by the ex-president about his finances were unreliable, according to the report.
Benders reportedly denied that he’d seen evidence of alleged off-the-books compensation paid to former Trump Organization CFO Allen Weisselberg and others. When questioned how he was sure about it, he said, “Because I probably would’ve had a heart attack.”
Trump received a legal setback on Tuesday after the U.S. Supreme Court cleared the release of his tax returns to the chief tax-writing committee of Congress.
Read Next: Trump's Companies Got A Thorough Cleaning After He Became President, Says Former CFO
Chaos at Apple Inc.’s (NASDAQ:AAPL) main iPhone-making plant in China doesn’t seem to end. Apple’s supplier Foxconn Technology (OTC:HNHPF), in a statement, apologized for a “technical error” while hiring new recruits. 
What Happened: The facility was rocked by fresh workers unrest early on Thursday after the employees were informed that Foxconn intended to delay bonus payments, as per videos circulated on social media. 
See Also: Apple Exec Deletes Twitter Account, Tech Giant Clears All Posts: What’s Going On?
Soon after this, Foxconn released a statement. “Our team has been looking into the matter and discovered a technical error occurred during the onboarding process,” the Foxconn statement read, according to Reuters.
“We apologize for an input error in the computer system and guarantee that the actual pay is the same as agreed and the official recruitment posters,” added Foxconn.
The fresh protests were reported hours after Foxconn began offering a 10,000 yuan ($1,400) incentive to staff in China who chose to leave amid violent protests. A company representative confirmed the initiative to Bloomberg but didn’t offer further details. 
On Wednesday, in response to Benzinga’s query, a Foxconn spokesperson refuted rumors that the employees were forced to share dormitories with colleagues who had tested COVID-19 positive and said it was also communicating with “relevant colleagues” for pay issues. 
Check out more of Benzinga’s Europe and Asia coverage by following this link.
A day after warning the U.S. of “a more fatal security crisis,” Kim Jong Un‘s influential sister called the South Korean president and his government “idiots.”
What Happened: Kim Yo Jong, in a statement released early on Thursday, issued insult-laden threats against its neighbor for considering unliteral sanctions on Pyongyang
See Also: North Korea’s Kim Jong-un Reveals Young Daughter To Public For First Time At Missile Test
The comments come two days after Seoul said it was reviewing additional unilateral sanctions on Kim’s isolated nation over its recent barrage of missile tests. 
“I wonder what ‘sanctions’ the South Korean group, no more than a running wild dog gnawing on a bone given by the US, impudently impose on North Korea,” Kim Yo Jong said in a statement carried by KCNAWatch. 
She also called new South Korean President Yoon Suk Yeol and his government “idiots who continue creating the dangerous situation,” adding that Seoul “had not been our target” under Yoon’s predecessor, who sought reconciliation with Pyongyang.
“We warn the impudent and stupid once again that the desperate sanctions and pressure of the US and its South Korean stooges against [North Korea] will add fuel to the latter’s hostility and anger, and they will serve as a noose for them,” she added.
Check out more of Benzinga’s Europe and Asia coverage by following this link.
Dash (CRYPTO: DASH) surged over 15.64% on Wednesday, topping CoinMarketCap’s gainers of the day.
What Happened: At the time of writing, DASH was trading at $43.11, finding support at $34.35. The token was launched as a fork of Litecoin (CRYPTO: LTC) in 2014.
DASH’s rally can be attributed to the LTC price surge. LTC, also known as Dogecoin (CRYPTO: DOGE) ‘relative,’ is gaining massive momentum, spiking 33.07% in the past seven days, trading at $77.19 at the time of writing.
See More: Best Cryptocurrency to hedge against inflation
The news that Web3 and VR gaming studio Thirdverse raised $15 million in the latest funding round, which was backed by B Dash Venture (the company behind DASH token), positively impacted the token.
The market capitalization of DASH has increased by 26.94% to $469 million in the past seven days and its 24-hour trading volume has risen by 95.07% to $144 million.
Price Action: DOGE was trading at $0.08257, up 1.93% in the past 24 hours, according to Benzinga Pro.
Read Next: A Look At Bitcoin, Ethereum And Dogecoin Heading Into Thanksgiving, Black Friday, The Weekend
Defunct crypto exchange FTX (CRYPTO: FTT) has notified a federal judge that it would like BitGo to safeguard its remaining digital assets during the bankruptcy proceedings.
What Happened: On Wednesday, FTX said that it was worried about cyberattacks and theft and that the company and its affiliates needed the court's permission to move assets.
This comes as the hacker exploited over $372 million worth of assets from FTX accounts on Nov. 12.
See Also: Best Cryptocurrency to hedge against inflation
According to a filing from FTX's attorneys, the deal will cost the company roughly $100,000 each month. In exchange for $5 million in upfront payments and a monthly charge equal to the average U.S. dollar value of the digital assets held, multiplied by.1.5 basis points, BitGo will provide the firm with custody services.
“It’s time to get serious about ending crypto-human-made disasters," Bitgo co-founder and CEO Mike Belshe told The Block.
Price Action: At the time of writing, FTT was trading at $1.30 down 3.71% in the past 24 hours, according to Benzinga Pro.
Read Next: A Look At Bitcoin, Ethereum And Dogecoin Heading Into Thanksgiving, Black Friday, The Weekend
Bitcoin and Ethereum were seen deep in the green on Wednesday evening as the global cryptocurrency market cap rose 3.1% to $830.4 billion at 9:07 p.m. EST.
See Also:10 Best Robinhood Alternatives To Use In 2022
Why It Matters: The release of the Federal Open Market Committee minutes on Wednesday indicated that policymakers at the U.S. central bank judged that “slowing in the pace of increase would likely soon be appropriate.”
Risk assets were seen buoyant as expectations of a pivot by the Federal Reserve mounted. Cryptocurrencies spiked and stocks were in positive territory for two days in a row.
The S&P 500 and Nasdaq closed 0.6% and 1% higher respectively in intraday trading. At the time of writing, U.S. stock futures were in the green.
“Bitcoin and crypto markets bounced back today following the continuation of a relief rally in the S&P 500,” said Marcus Sotiriou, an analyst with GlobalBlock.
“Retail investors are accumulating at a rapid pace, as the Bitcoin supply held by on-chain entities between the size of 0.1-1 BTC is spiking,” said Sotiriou, in a note seen by Benzinga.
Sotiriou also noted that JPMorgan has registered a JP Morgan Wallet with the United States Patent and Trademark Office which includes cryptocurrency transfers and crypto payment services.
Cryptocurrency trader Michaël van de Poppe noted that the total market capitalization for cryptocurrencies is acting beneath the 200-week moving average but is still above the previous all-time high in 2017.
Total market capitalization for #crypto acting beneath the 200-Week MA, but still holding above the previous ATH in 2017. pic.twitter.com/SK4mYOSKJW
— Michaël van de Poppe (@CryptoMichNL) November 23, 2022
Justin Bennett noted that Bitcoin is closing in on the $17,000 level. The cryptocurrency trader said on Twitter, “I still think [Bitcoin] will run the $17,200 shorts before this is over. Needs a close above $16,580 to get it done.”
After a bullish deviation earlier this week, $BTC is closing in on that $17k level.
I still think #Bitcoin will run the $17,200 shorts before this is over.
Needs a close above $16,580 to get it done. https://t.co/9ADKuJe0Wz pic.twitter.com/y3oyYNaH6s
— Justin Bennett (@JustinBennettFX) November 23, 2022
On-chain analysis firm Glassnode tweeted that the total Bitcoin market realized loss “peaked” at negative $1.9 billion last Friday. 
This is the fourth largest daily realized loss in history,” said Glassnode. 
The total #Bitcoin market Realized Loss peaked at -$1.9B last Friday.
This is the fourth largest daily realized loss in history, ranking behind:
-$2.0B during LUNA collapse
-$2.2B in June 2021 start of bear
-$2.5B in June 2022 sub-$20k
Live Chart: https://t.co/VIgD2Xgaiv pic.twitter.com/5gBsUgnfZm
— glassnode (@glassnode) November 23, 2022
On the Ethereum side, shark and whale addresses are continuing to accumulate with prices of ETH less than a quarter of what they were a year ago.
“In Oct/Nov 2020, these 100 to 100k [ETH] addresses assisted in pushing [ETH] to a +50% price rise over 5 weeks,” said market intelligence platform Santiment in a tweet.
#Ethereum's active shark & whale addresses continue accumulating with prices less than a quarter of their #AllTimeHigh levels a year ago. In Oct/Nov 2020, these 100 to 100k $ETH addresses assisted in pushing $ETH to a +50% price rise over 5 weeks. https://t.co/v8gh4RfV7z pic.twitter.com/Oe3lTo12uj
— Santiment (@santimentfeed) November 23, 2022
Read Next: Nouriel Roubini Says 'Well Done' As New York Bans Carbon-Intense Bitcoin Mining
New York has passed a law that will ban new Bitcoin (CRYPTO: BTC) mining companies from setting up bases in the state unless they use 100% renewable energy.
What Happened: The Empire State’s governor Kathy Hochul signed the law into effect on Tuesday banning certain Bitcoin mining operations in New York if they utilize carbon-based power sources, reported CNBC.
After the law came into effect, for a period of the next two years unless a proof-of-work mining company uses 100% renewable energy it will not be allowed to expand or renew permits and new entrants will also be barred, according to the report.
“It is the first of its kind in the country,” said Hochul, according to CNBC.
See Also: The Best Bitcoin Mining Software For 2022
Why It Matters: The mining ban by New York has garnered mixed reactions on social media.
Economist Nouriel Roubini, a notable critic of digital currencies, hailed the ban on Twitter on Wednesday.

Well done Gov. Hochul! Brava!

New York Enacts 2-Year Ban on Some Crypto-Mining Operations

National cryptocurrency industry groups had lobbied Gov. Kathy Hochul to veto the environmental ban, fearful that other states could follow New York’s lead.

https://t.co/ldlQr1x9w0
— Nouriel Roubini (@Nouriel) November 23, 2022

Greenpeace USA, an environmental organization, called the ban “progress” in a tweet. 

New York is now the first state to temporarily ban new cryptocurrency mining at fossil fuel plants! This is progress.

Thank you to our allies including @seneca_lake and @LizAGMoran for this important victory. https://t.co/mMqYWBFhMF
— Greenpeace USA (@greenpeaceusa) November 23, 2022

Washington-based Chamber of Digital Commerce founder Perianne Boring said, “To date, no other industry in NY has been sidelined for its energy usage. This is a dangerous precedent to set in determining who may or may not use power.”

To date, no other industry in NY has been sidelined for its energy usage. This is a dangerous precedent to set in determining who may or may not use power.https://t.co/u3T7D9UsXX
— Perianne (@PerianneDC) November 23, 2022

The mining ban comes at a time when the cryptocurrency market and enthusiasts are grappling with the collapse of the Sam Bankman-Fried-founded companies FTX and Alameda Research.
Read Next: Harvard Professor Says Bitcoin Better Weapon Than Gold For Central Banks Against Sanctions
Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) Chair Warren Buffett donated Class B shares of the company worth millions to family charities on Wednesday.
What Happened: Buffett, one of the richest people in the world, donated 2.4 million Class B shares of Berkshire Hathaway — worth nearly $759 million based on Wednesday's closing price — according to filings made with the U.S. Securities and Exchange Commission.
The Susan Thompson Buffett Foundation received 1.5 million shares, while 300,000 shares each were donated to the Howard G. Buffett Foundation, the Sherwood Foundation, and the Novo Foundation
The Susan Thompson Foundation is named after Buffett's first wife and the rest of the charities are run by his children.
See Also: A Step-By-Step Guide On Investing For Beginners
Why It Matters: After the latest donation, Buffett owns 15.5% of Berkshire's shares and 31.4% of the company's voting power.
The SEC filing didn't mention any gifts to the Bill & Melinda Gates Foundation, which is an annual beneficiary of Buffett's charity.
The Foundation and Berkshire Hathaway did not immediately respond to Benzinga's request for comment on the development.
As of September, Buffett has donated more than $36 billion to the foundation run by the Microsoft co-founder.
Price Action: On Wednesday in the regular session —  Berkshire Hathaway's Class A shares closed 1.7% higher at $476,980. The company's Class B shares closed 0.2% higher at $316.27, according to Benzinga Pro data.
Read Next: Bill Gates Shares Plan To Tackle The ‘World’s Deadliest Animal’
Bitcoin (CRYPTO: BTCand crypto markets bounced back today following the continuation of a relief rally in the S&P 500. 137,000 Bitcoin has been removed from exchanges in the past 30 days, as investors lose trust in exchanges and trading platforms which are not transparent.
Retail investors are accumulating at a rapid pace, as the Bitcoin supply held by on-chain entities between the size of 0.1-1 BTC is spiking.
Image
Whilst the stability of the crypto ecosystem remains in question, JP Morgan continues to make moves toward integrating crypto products. JP Morgan has registered a JP Morgan Wallet with the United States Patent and Trademark Office (USPTO) to use in a wide range of financial services, including cryptocurrency transfers and crypto payment services.
The terms used to describe the services that are enabled with this registration are “electronic transfer of virtual currencies,” “financial exchange of virtual currencies,” and “cryptocurrency payment processing,” shown by the USPTO website.
JP Morgan (NYSE:JPM) described the wallet as:
“Real-time virtual sub-ledgers that help manage and scale any number of customer, supplier and vendor payments in an organized, easy-to-reconcile way.”
JP Morgan intends to “help simplify domestic and cross-border receivables and disbursements” with the implementation of this wallet, and also develop “sophisticated payments solutions like connected mobility solutions and blockchain platforms that can help you say more to the world.”
Furthermore, Singapore’s largest bank, DBS, completed an intraday repo trade on JP Morgan's Onyx (JP Morgan’s own blockchain ecosystem). Usually, repo trades take two days to settle, however by using blockchain technology these transactions can settle in just a few hours.
This proves the potential for blockchain technology to disrupt the $4 trillion repo market and revolutionise the financial services industry.
Leading cryptocurrency Bitcoin is known for many things, whether its used to buy a pizza, held on the balance sheet of companies, used as a currency in countries such as El Salvador or as a store of value.
One famous use case could be less important in the future and silence critics.
What Happened: A leading cybersecurity company has spoken out about Bitcoin (CRYPTO: BTC) soon being less important in the world of ransomware negotiations and payments, which could be in opposition to what Berkshire Hathaway Inc (NYSE: BRKA)(NYSE: BRKB) Vice Chairman Charlie Munger recently said about the cryptocurrency.
Kaspersky said Bitcoin could be relied on less as a source of use for illegal activities due to sanctions and new market regulation calls.
“With the price of crypto dropping, threat actors will stand to gain less, and will therefore look to other more profitable forms of payment,” Kaspersky Global Research researcher Marc Rivero told Decrypt.
The good news could be Bitcoin not being used for illegal activities. The bad news is Kaspersky sees privacy coins such as Monero (CRYPTO: XMR) and Zent Cash (CRYPTO: ZEC) used for the activities instead.
“As markets become much more regulated and the technologies used to track the flow and sources of Bitcoin improves, threat actors will naturally move away from this form of payment as it opens them up to exposure and increases the chances of being apprehended.”
A report from Chainalysis said $602 million in cryptocurrency in 2021 was linked to ransomware payments.
Related Link: How To Buy Bitcoin
Why It’s Important: Skepticism for Bitcoin and other cryptocurrencies has likely increased after the bankruptcy of FTX.
One of the biggest opponents of Bitcoin is Munger, who is famous for calling the leading cryptocurrency rat poison. Munger also doubled down on Bitcoin after the bankruptcy of FTX.
“This is a very, very bad thing. The country did not need a currency that was good for kidnappers,” Munger said.
Munger said that Rome took a long time to decline and said that Bitcoin and the people who support it could help promote the decline of civilization.
“There are people that think you’ve got to be in on every deal that’s hot, and they don’t care whether it’s child prostitution or Bitcoin.”
Bitcoin bull Anthony Pompliano criticized the comments from Munger when asked recently.
“They do not understand the technology,” Pompliano said.
Pompliano said studies have shown the U.S. dollar is more widely used for money laundering than Bitcoin, but people want to have “headline-grabbing anti-Bitcoin statements.”
Pompliano suggested that if Munger and his colleague Warren Buffett were 25 to 35 years old, they would be buying Bitcoin today.
Read Next: 'Threats To Our Society Posed By Cryptocurrency': Congressman Takes Aim At Billionaire Crypto Bros 
Photo: Alexander Geiger via Shutterstock
 

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