Tag Archives: billion
U.S. Seizes $15 Billion In Bitcoin, Sanctions Cambodia’s Prince Group In Global Crypto ‘Scam’ Crackdown
ToplineThe Department of Justice seized roughly $15 billion in bitcoin from the self-custodied cryptocurrency wallets of Prince Group founder Chen Zhi, who authorities allege orchestrated a vast “pig butchering” scam based in Cambodia, marking a record-setting forfeiture as the Treasury Department labeled Prince Group a transnational criminal organization.PARIS, FRANCE - NOVEMBER 12: In this photo illustration, a visual representation of the digital Cryptocurrency, Bitcoin is on display on November 12, 2024 in Paris, France. (Photo illustration by Chesnot/Getty Images)
Getty ImagesKey FactsThe Department of Justice filed a forfeiture action Tuesday for 127,271 bitcoin, worth approximately $15 billion, and Chen Zhi, the founder and chairman of real estate conglomerate Prince Group, was indicted on wire fraud and money laundering conspiracy charges and remains at large.
Prosecutors allege Prince Group trafficked hundreds of workers and forced them to run...
U.S. Approves $2 Billion Arms Sale to Taiwan, Drawing Sharp Criticism from China
NASA Space Technology TAIPEI, Taiwan – The United States has approved a $2 billion arms sale to Taiwan, marking a significant enhancement of the islands defense capabilities amid escalating tensions with China.The approved package includes the delivery of advanced National Advanced Surface-to-Air Missile Systems (NASAMS), the first of its kind to be provided to Taiwan.Beijing has sharply criticized this move, seeing it as a threat to its sovereignty and security interests.Taiwans presidential office thanked the U.S. on Saturday, October 26, 2024, for greenlighting the sale, describing the acquisition as essential to bolstering the islands self-defense amid rising military threats.Strengthening Taiwans self-defense capabilities is the foundation for maintaining regional stability, said presidential spokesperson Karen Kuo. SincePresident Lai Ching-te took office in May, Taiwan has ramped up its defense strategies in response to Chinas increased military activities...
The $2 billion election betting craze, explained
Politics tamfitronics Who’s going to win the presidential election?My answer, as a journalist writing about politics who gets asked this a lot, is always, “It’s a coin flip.” That’s certainly what forecasting models based on polling suggest. As I write this, the Economist gives Donald Trump a 53 percent chance; FiveThirtyEight gives him a 51 percent chance; Nate Silver gives him 53.7 percent. That’s not exactly 50-50 but it’s pretty close.But this year, a different way of judging the odds has become more popular than ever: prediction markets. These are real-money markets where people can bet on the ultimate victor of the presidential election, among other elections and events, from politics to sports to movies. While academic-sponsored markets like PredictIt and the Iowa Electronic Markets have been around for a while (decades in the latter...
UK to Spend £22 Billion on Carbon Capture Sites as Costs Rise
Technology tamfitronics The UK recommitted to a major investment in carbon-saving technology even as rising costs mean it will only be possible to capture a fraction of the emissions released from industrial sites compared to previous estimates.Author of the article:Bloomberg NewsWilliam Mathis and Eamon Akil FarhatPublished Oct 03, 2024 • 3 minute readEmissions from chimneys at the British Steel Ltd. plant in Scunthorpe, UK, on Monday, March, 27, 2023. British Steel has proposed closing its coke ovens in a bid to overcome global economic challenges and build a green and sustainable future, according to an emailed statement. Photographer: Dominic Lipinski/Bloomberg Photo by Dominic Lipinski /Bloomberg(Bloomberg) — The UK recommitted to a major investment in carbon-saving technology even as rising costs mean it will only be possible to capture a fraction of the emissions released from...
