A new ProPublica feature broke down how PayPal co-founder Peter Thiel was able to amass $5 billion in savings from an account that was worth less than $2,000 20 years prior. According to IRS data, Thiel’s Roth Individual Retirement Account (IRA) was worth less than $2,000 in 1999. After only three years, the account was worth more
Two brothers from South Africa are suspects in an alleged Bitcoin heist. Ameer and Raees Cajee allegedly used their crypto investment service, Africrypt, originally launched in 2019, to make off with $3.6 billion worth in Bitcoin. Reports say Ameer reached out to investors back in April, alerting them of an apparent breach. However, Ameer implored
Elon Musk’s appearance on Saturday Night Live caused Dogecoin to experience a steep dip three days after the cryptocurrency reached an all-time high. On Saturday morning, Dogecoin was trading at around 70 cents. After the Tesla CEO’s hosting appearance, it dropped nearly 40 percent and was trading at around 44 cents by Sunday. Musk mentioned Dogecoin at
According to reports, a Toronto-based online brokerage company backed by Drake is valued at $4 billion. The company, Wealthsimple, received roughly $610 million during its last round of funding. However, Drake isn’t the only famous Canadian investing in the company. Some of the other investors include actors Michael J. Fox, and Ryan Reynolds, in addition
According to reports, House Democrats have approved a bill that would make Washington D.C. the 51st state of the United States. Granting statehood to the District of Columbia would enfranchise 712,000 Americans. “This country was founded on the principles of no taxation without representation and consent of the governed. But D.C. residents are taxed without
According to reports, Nas and his Queensbridge Venture Partners’ investment into the cryptocurrency Coinbase could be paying off soon. The currency is expected to reach over $100 billion in valuation after the stock lists on Wednesday. QVP co-founder Anthony Saleh noted that they were also backers of Robinhood in 2013, along with Dropbox and Lyft,
PayPal co-founder Peter Thiel warned that the United States should enforce tighter regulations on cryptocurrencies during a virtual roundtable. He also expressed his concern that China is using Bitcoin to corrode the U.S. financial system. “Even though I’m a pro-crypto, pro-bitcoin maximalist person, I do wonder whether, at this point, Bitcoin should also be thought
As the minimum wage has remained stagnant at $7.25 an hour for over a decade, Wall Street bonuses have grown 1,217% since 1985. According to the study, the minimum wage would be $44.12 per hour if the pace of minimum wage grew at the same pace as Wall Street bonuses. While the cost of living
The Biden administration just recently signed a $1.9 trillion COVID-19 relief bill this past Thursday, which will help the economy in a major way after the toll the pandemic has taken in the last year. Now, news surfaced noting that Joe Biden is preparing to propose the first major federal tax hike since 1993 in order to
Previously, it was revealed that Tesla was investing $1.5 billion into Bitcoin, and expected to start accepting the cryptocurrency as payment. Now, news surfaced noting that Bitcoin’s value has risen past its all-time high to a value of $60,000. Binance tweeted a chart of where the value was a year ago from March 13, where
