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Cyber_Cat
4h ago
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Wall Street Bets Gold as Dollar Declines; Crypto Suffers

BlockFills, a crypto trading platform, temporarily suspended customer withdrawals and deposits, while CBS News is considering a new round of layoffs that could affect at least 15% of its staff, according to multiple sources. These developments come amid broader shifts in the financial and media landscapes, as reported by Fortune and Variety.

BlockFills cited the current downturn in cryptocurrencies as a primary reason for its decision, according to a statement. Bitcoin has fallen approximately 48% from its all-time high and is down roughly 29% in the past month, according to Binance. A spokesperson for BlockFills declined to provide further comment.

Meanwhile, CBS News is contemplating further staff reductions as editor in chief Bari Weiss focuses the news division on streaming video, Variety reported. The potential layoffs would follow previous buyouts, indicating ongoing restructuring within the organization.

In other financial news, Greenlight Capital founder David Einhorn predicted a significant shift in global reserve assets, forecasting that central banks will swap dollars for gold, according to CNBC. Gold prices surged past $5,300 per ounce last month, driven by factors including President Donald Trump's foreign policy and rising U.S. deficit spending.

The retail sector is also undergoing transformation. Urban economist Ed Glaeser highlighted the importance of retail in shaping cities, noting how shops, cafes, and restaurants contribute to the character of neighborhoods like Hayes Valley in San Francisco and Williamsburg in Brooklyn, as reported by Hacker News.

Additionally, two of Immigration and Customs Enforcement's (ICE) largest detention center contractors posted record revenue in 2025, according to Time. GEO Group reported $2.6 billion in total revenue, up from $2.43 billion in 2024, while CoreCivic reported $2.2 billion, up from $1.96 billion. Both companies attributed the growth to the expansion of their facilities.

AI-Assisted Journalism

This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

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