Global stocks in meltdown as Wall Street bails out of crypto and AI: ‘The bubbly is on ice’

Global stocks in meltdown as Wall Street bails out of crypto and AI: ‘The bubbly is on ice’

Global stock markets sold off sharply this morning as investors continued to question whether the ‘Magnificent 7’ tech companies have fueled an unsustainable bubble in AI. The selling is brutal. Nasdaq 100 futures were down 0.36% this morning after losing 2.38% yesterday. S&P 500 futures were flat but volatile this morning, and the VIX volatility…

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UK man who hacked Barack Obama's Twitter account in 2020 ordered to pay $5.4 million in Bitcoin

UK man who hacked Barack Obama’s Twitter account in 2020 ordered to pay $5.4 million in Bitcoin

AI generated image for representation A British man has been convicted of hacking Twitter accounts belonging to high-profile figures, including former US President Barack Obama. According to a report by the news agency Reuters, a UK government agency has ordered Joseph James O’Connor to repay $5.40 million (4.1 million pounds) worth of Bitcoin for the…

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Fortune Tech: China’s Bitcoin theft blame, SoftBank’s Nvidia stake sale, Yann LeCun’s next act?

Fortune Tech: China’s Bitcoin theft blame, SoftBank’s Nvidia stake sale, Yann LeCun’s next act?

Good morning. I had the pleasure of hosting more than a dozen executives yesterday in a Fortune CEO roundtable discussion about how their strategies are shifting amid economic uncertainty and global complexity. We kicked things off with former Atlanta Fed president Dennis Lockhart, who outlined the state of the economy and memorably said that it…

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China Accuses U.S. of Stealing 127K BTC in High-Profile Crypto Hack

China Accuses U.S. of Stealing 127K BTC in High-Profile Crypto Hack

A Chinese cybersecurity watchdog is accusing the U.S. government of taking part in a major cryptocurrency heist, escalating tensions around a years-long mystery involving 127,000 stolen bitcoin, now worth roughly $13 billion. China’s National Computer Virus Emergency Response Center (CVERC) released a technical report Sunday claiming the U.S. Department of Justice seized BTC that was…

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