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Share link:In this post: Jerome Powell has agreed to resign as Fed Chair after sustained pressure from President Trump and his cabinet. Trump demanded a 300 bps rate cut, claiming it could save the U.S. over $1 trillion annually. The White House attacked Powell over a $2.5B renovation of the Fed’s Eccles Building.
Share link:In this post: Russian crypto criminal seeks U.S. President Trump’s pardon. Crypto exchange Bitzlato founder hopes to escape extradition to France. Anatoly Legkodymov served his sentence in America but may face more prison time in Europe.
Share link:In this post: Wall Street fell Friday, with the Dow down 297 points and the S&P 500 slipping 0.3%. The bond market is collapsing, with 10-year yields above 4.40% and on track for the worst decade. Jerome Powell is stepping down as Fed Chair, and volatility just saw its sharpest drop since 1987.
Share link:In this post: InceptionLRT is shutting down just six months after raising $3.5 million in seed funding. Despite solid engineering and backing, the protocol failed to achieve product–market fit or scale user adoption. User funds remain safe, and withdrawals are open until September 1, with a full snapshot already taken.
Share link:In this post: Global oil supply growth outpaces demand growth, but indicators point to tighter market conditions. Summer travel and higher power generation are boosting refinery runs and consuming spare barrels despite OPEC+ hikes. IEA expects the weakest demand growth since 2009 outside the pandemic, while its forecast trails OPEC’s projection.
