Author: TheSpuzz Desk

Former FTX CEO Sam “SBF” Bankman-Fried had ambitions to become the President of the United States, according to his former girlfriend and business associate Caroline Ellison. Appearing in court on Oct. 10 to testify against Bankman-Fried, Ellison reportedly said the former FTX CEO wanted to be the U.S. President in the future. The declaration followed the end of their personal relationship, while the two continued to work together at their respective leadership roles at Alameda Research and FTX until November 2022. Ellison admitted to fraud during her time at Alameda at the direction of Bankman-Fried, claiming he “set up the…

Large index funds continued to underperform in the first half of 2023 with 58 per cent large cap funds failing to beat their underlying indices and the overall underperformance being as high as 85.2 per cent. According to S&P Dow Jones Indices — a leading index provider globally — the underperformance rates for the domestic equity and bond mutual funds have been elevated over the past three- and five-year periods. Based on the varying performance of active managers across different fund categories, most equity large-cap funds failed to beat their benchmarks, with 58 per cent of actively…

Hamas attack has left 900 people dead in Israel New Delhi: Dozens of foreigners have been killed, injured, or taken hostage during a surprise attack on Israel by the Hamas group that has left 900 people dead in Israel. Many of the missing foreigners were at an electronic music festival in the southern Israeli desert, at which scores of revellers were killed. Here is what we know so far: 18 Thais dead, 11 held hostages in Hamas attack Eighteen Thais have been killed, nine have been wounded and 11 have been taken captive, foreign affairs officials said Tuesday. Deputy Minister of…

GamesBeat Next unites gaming industry leaders for exceptional content, networking, and deal-making opportunities. Join us on Oct 23-24 in San Francisco.  Register Now Game Taco has officially changed its name to WorldWinner, signifying its focus on its biggest brand for publishing games for the skill-based games category. With over 20 years of loyal players, WorldWinner aims to continue its legacy as the preferred platform for skill gaming. The rebrand comes at a time when skill-based games account for more than 13% of the total mobile games market. Players can place wagers in skill-based games and win real money, but it’s…

Adobe and other companies have established a symbol that can be attached to content alongside metadata, establishing its provenance, including whether it was made with AI tools.The symbol, which Adobe calls an “icon of transparency,” can be added via Adobe’s photo and video editing platforms like Photoshop or Premiere and eventually Microsoft’s Bing Image Generator. It will be added to the metadata of images, videos, and PDFs to announce who owns and created the data. When viewers look at a photo online, they can hover over the mark, and it will open a dropdown that includes information about its ownership,…

Shiba Inu is seemingly gearing up for a reversal especially as the community has jumped back into reducing the circulating supply of SHIB tokens. This has resulted in a significant jump in the SHIB burn rate over the last day as millions of tokens make their way out of circulation. SHIB Burn Rate Rises By 152% On Tuesday, the SHIB burn rate saw an interesting turn of events that led to an immense rise in the number of tokens being burned in a 24-hour period. As data from Shiba Inu burn tracking website Shibburn shows, the SHIB burn rate is…

Oct. 10 saw major Asian and European stocks surge higher owing to a wave of risk appetite. Another major factor that played a key role in the bullish resurgence of European and Asian stocks was the United States Federal Reserve’s optimistic outlook on bond yields. U.S. Treasury yields fell sharply on Tuesday, with Federal Reserve officials hinting that the central bank may be done raising interest rates. Fed Vice Chair Philip Jefferson said the institution may “proceed carefully” in determining whether any additional rate rises are necessary, while Dallas Fed President Lorie Logan suggested that rising Treasury yields might prevent…

Investors always worry about the next major market correction and what could trigger it. While we often contemplate risks tied to specific events that could lead to a significant market downturn, the truth is that the events capable of causing such a correction are largely unknown. The worldwide crisis and the aftermath of covid-19 pandemic was surely never on the radar. The rationale for this: it was a low-probability event with high short-term impact. Conversely, the much-anticipated risks are usually high-probability events with lower impact. Mathematically, the probability of an event and the impact of the event are two key…

The options contracts of the Nifty Financial Services (FinNifty) index witnessed wild swings on Tuesday, their expiry day. According to data available on NSE’s website, the FinNifty put option with a strike price of 19,800 logged, a high of Rs 162 and a low of Rs 0.05—a swing of over 3,200 times. It opened at Rs 162 compared to the previous day’s close of Rs 224. Meanwhile, the underlying FinNifty index hit a high of 19,879.25 and a low of 19,651 before settling at 19,835, with a gain of 1.2 per cent over its previous day’s close. Some traders…

The vote comes just days after a Russian missile attack on a Ukrainian village United Nations: The UN General Assembly on Tuesday rejected a bid by Russia to regain a seat on the Human Rights Council, from which it was ousted after invading Ukraine. Russia, which was competing with Bulgaria and Albania for two open spots allocated to the Eastern Europe regional group, nonetheless received 83 votes in its favor from the UN General Assembly’s 193 members. The election for the body’s 2024-2026 term had been viewed as a test of what Moscow contended was quiet support despite fierce Western-led…