Crypto lender BlockFills suspended withdrawals for clients, while Instagram's head revealed his substantial compensation, and Israeli authorities arrested individuals for allegedly using military secrets for online bets, according to recent reports. These developments, along with concerns about the dollar's future, highlight a dynamic period across the financial and technological landscapes.
BlockFills, a crypto trading platform based in Chicago, announced on Wednesday that it would temporarily halt customer deposits and withdrawals, citing the need to protect clients and the firm, according to Fortune. This move comes amid a downturn in the cryptocurrency market, with Bitcoin down approximately 48% from its all-time high in October. A spokesperson for BlockFills declined to provide further comment.
Meanwhile, Adam Mosseri, the head of Instagram, disclosed his compensation during a social media addiction trial against Meta and YouTube. Mosseri testified that he earns roughly $900,000 annually, with performance-based bonuses potentially reaching half his salary, and stock-based pay that has varied, sometimes exceeding $20 million per year, according to multiple outlets covering the trial. The trial involves a 20-year-old plaintiff who alleges mental health issues stemming from social media addiction.
In other financial news, Greenlight Capital founder David Einhorn predicted a significant shift in global reserve assets, suggesting that central banks will move away from the dollar and towards gold. Gold prices surged past $5,300 per ounce last month, driven by factors including hawkish foreign policy and rising U.S. deficit spending, according to Fortune. Einhorn, speaking with CNBC, forecasted that central banks around the world are buying gold.
Additionally, Israeli authorities arrested several individuals and charged two with using classified information to place bets on the prediction market platform Polymarket, according to NPR News. Prosecutors accused a civilian and a military reservist of bribery and obstruction of justice. The investigation centers on the alleged use of military secrets to inform wagers on military operations.
In a separate development, Iranian exiles in Turkey are struggling to obtain news from their home country, according to NPR Politics. They are reportedly receiving chilling stories from relatives and facing death threats.
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