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Cryptocurrency lending giants wanted to operate on the level of banks, but their appetite for risk and a paucity of regulatory guardrails mean they and their clients now face financial ruin.
Starting with the lofty goal of competing with traditional banks, cryptocurrency lending giants and their clients now face financial ruin due to their appetite for risk and a paucity of regulatory guardrails. The devastating sequence started with the sharp decline of cryptocurrencies, including bitcoin which lost nearly 60 percent of its value in the past six months.
Flight trouble: Strained US airlines face July 4 test
US airlines are bracing customers for what will probably be another bumpy holiday weekend as the industry struggles to manage a surge in travel demand that probably exceeds its current capacity.
Migrants recount nightmare journeys in US-bound trucks
Jose Mario Licona and his family spent 18 hours in a refrigerated truck being smuggled to the Mexican-US border -- a journey he feels lucky to have survived. "When you make a deal, the first thing you ask (the smugglers) is not to be put in a container, but during the journey they do what they want," Licona told AFP in a shelter in the Mexican border city of Ciudad Juarez.
Champions South Africa begin World Cup countdown against lowly Wales
Siya Kolisi-captained South Africa begin on Saturday against Wales in Pretoria a 16-match countdown before defending the Rugby World Cup title in France next September. Tests on consecutive Saturdays against Wales in Pretoria, Bloemfontein and Cape Town get the ball rolling, to be followed in August and September by three home and three away Rugby Championship games.
NYPD unit that inspired 'Law & Order: SVU' faces gender bias probe
The US Justice Department will investigate the New York police agency that inspired the hit TV show "Law & Order: Special Victims Unit," over its treatment of sexual assault victims. "Law & Order: Special Victims Unit" is part of the wildly popular "Law & Order" TV franchise, and has been on air on NBC since 1999.
Ecuador government, Indigenous leaders sign deal to end protests
Ecuador's government and Indigenous leaders signed a deal Thursday to cut fuel prices and end cost-of-living protests that partly paralyzed Ecuador for 18 straight days.
China's Xi to preside over muted Hong Kong handover anniversary
Chinese leader Xi Jinping was set to preside Friday over tightly choreographed celebrations marking the 25th anniversary of Hong Kong's handover from Britain, with once annual demonstrations silenced and a massive security presence in force.
FBI adds Bulgarian 'Crypto Queen' to most-wanted list
A Bulgarian woman dubbed the "Crypto Queen" after she raised billions of dollars in a fraudulent virtual currency scheme was placed on the FBI's 10 most wanted list Thursday. But on Thursday she was no longer on the list.
Erdogan warns Turkey may still block Nordic NATO drive
Turkish President Recep Tayyip Erdogan on Thursday told Sweden and Finland that he could still block their drives to join NATO if they fail to implement a new accession deal with Ankara. But Erdogan appeared to up the ante on Thursday by noting that Sweden had "promised" Turkey to extradite "73 terrorists".
AFP
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