Bitcoin’s implacable critic Warren Buffett surprised crypto industry with his decision to invest in fintech start-ups on behalf of Berkshire Hathaway, which he heads. It is reported by The Wall Street Journal.
As is known, the conglomerate was previously engaged in acquisition of “blue chips” from American companies. However, WSJ reports that over the past months, two fintech companies that specialize in market development have received $ 600 million. These companies turned out to be a brazilian payment service StoneCo Ltd. and the Indian startup Paytm.
The investment flow was regulated by Berkshire Hathaway investors – Toddy Combs and Teddy Weschler. A Professor Cass Business School, David Smith, says that there is no more time to ignore the development of fintech. He also noted that Combs and Weschler “expand Berkshire’s prospects and opportunities for the company’s investors.”
Visa’s immediate plans are to open a new department which will be directly connected with cryptocurrencies and blockchain technology. It became known immediately after the company published a vacancy of a new manager.
Main requirements for an applicant:
in-depth knowledge about private blockchain;
familiarity with advanced cryptography is preferred;
an understanding of existing retail payment solutions;
4 to 7 years of relevant experience.
Manager of a new department will have to carefully follow the latest solutions and technologies in this area. He will also have to implement them promptly in the company’s own products.
Recall, yesterday we wrote that the US government can completely ban Visa and Mastercard payment systems in Venezuela. It is connected with the extension of sanctions against the current President Maduro. This can significantly affect the already weak economy of the country.
Donald Trump has undoubtedly won the title of the most eccentric president of the United States. Given the amount of accusations, convictions and general displeasure, it is a wonder how he has not been impeached yet. However, this new endeavour might put the last bits of his reputation at stake.
The New York Attorney General started an investigation regarding the financial relationship between the Trump Organization and Deutsche Bank. Reportedly, the major German bank has provided over 2 billion dollars in loans to the American president over the years.
The misconduct of Trump
The story begins in 2004, when Trump first encountered Deutsche Bank. The businessmen went to the real estate department and filed for a loan for his 92-story Trump International Hotel and a Trump Tower in Chicago.
At first sight everything seems fine, but it surely isn’t. When asked about the financial situation, Trump claimed to own a much larger sum of money than he actually had back then. Simply speaking, he lied to the bank about his net worth.
“Mr. Trump told Deutsche Bank his net worth was about $3 billion, but when bank employees reviewed his finances, they concluded he was worth about $788 million, according to documents produced during a lawsuit Mr. Trump brought against the former New York Times journalist Timothy O’Brien,” is mentioned in the investigation files.
The weird thing is that although the bank officials surely suspected something, they didn’t take time to check and verify the information provided by Trump. Instead of that, they kept loaning him massive amounts of money.
In 2010 Trump received a 100-million-dollar loan from the Deutsche Bank to built a resort in Florida. Experts claim that he deliberately increased his net worth by almost 70% in the application in order to get the money.
In 2014 the current US president tried to purchase the popular football team Buffalo Bills. When the NFL demanded the proof that he would have enough finances to conduct the deal, Trump claimed that he owned almost 9 billion dollars, and this all happened through Deutsche Bank once again.
Right now, the authorities are finally starting to see the whole picture and its scale. The investigation has already started. Faking net worth to get such huge loans might result in big problems for both Trump and Deutsche Bank.
At the moment the USA government discusses the possibility of introducing a new package of sanctions, which in fact will prohibit the operation of such systems like Visa and Mastercard in Venezuela.
According to the administration of Donald Trump, such a step would cause irreparable damage to the Maduro government regime, which the United States recognized as illegitimate. These sanctions will mean a total ban for any American company to cooperate with any Venezuelan company that has at least some relation to the current Maduro regime.
The main purpose of these sanctions is to put pressure on the current leadership of Venezuela. However, such actions may affect the lives of ordinary citizens of the country. How to avoid this, officials do not know yet, although they claim that there are some tricks which allow making a number of exceptions.
On Saturday, March 16, Juan Guaido (head of the Venezuelan opposition) said that they managed to take under control the Citgo – a subsidiary of the state-owned oil giant PDVSA.
Querían robárselo todo, pero ya tenemos control de @CITGO y la licencia para seguir operando la empresa, rescatando un importante activo de la Nación.
Quieren que abandonemos las calles, pero mañana todos saldremos a organizarnos para cesar al usurpador. https://t.co/0h2ZovJphq
If the VISA and Mastercard systems stop working in the country, then people will have no other choice but to switch completely to using Bitcoin or their own cryptocurrency El Petro. Given that Venezuelans are used to living in hyperinflationary conditions, cryptocurrency will seem like a fairly stable asset for them.
As we reported earlier, cryptocurrency was going to make its appearance in art, mainly in cinematography. We presented to you the plans on the movie featuring crypto with Kurt Russell playing one of the main roles. However, back then it was still unclear whether this film will actually see the world or not.
Now it’s absolutely obvious – it will. The first trailer of “Crypto” has dropped recently and created massive hype around it.
The description of the trailer is quite promising. It says:
“In this cyber-thriller starring Kurt Russell and Beau Knapp, a Wall Street banker connects a small-town art gallery to a global conspiracy, putting his own family in grave danger.”
Let’s find out more about the upcoming movie.
Crypto was directed John Stalberg Jr. and a star-studded cast of Hollywood stars, such as Kurt Russell, Luke Hemsworth, Alexis Bledel, Beau Knapp, Jeremie Harris, Vincent Kartheiser and others.
The plot of Crypto, the movie, focuses on the character of Beau Knapp, who is a cyber security expert, the best one when it comes to fight money laundering. He is sent to a small American town Elba in order to track down and stop the group of hackers who are obviously laundering Bitcoins.
The upcoming movie will show a crypto exchange, which looks oddly similar to Coinbase, where Bitcoin Cash will be listed at a price of almost 1 thousand dollars. Moreover, no American thriller could ever be made without the appearance of Russian mafia.
Overall, Crypto did a good job with the first trailer and created the necessary effect – everybody is intrigued and interested.
The film will be out in selected cinemas on April 12. Also it will be available on demand. We will surely report a detailed review on this crypto-related art piece after it is released.
Japan is one of most developed countries in the whole world, when it comes to economic sector, all the spheres are regulated making investments easy and save. News outlets shocked everyone with the news that Japan’s Mizuho bank creates its own cryptocurrency, as it turned out later, the coin is real but the crypto is not.
Cash VS. Online Payments
Even though Japan seems to be a modern country with innovative technological potential, most of its citizens prefer using cash to cards or online payments. In terms of payment systems adoption, the country is definitely left behind, especially if we compare it to China where WePay and AliPay thrive. There are some reasons for this phenomenon. First of all, low interest rates make Japanese hoard their cash. Second of all, the country is very safe, so taking cash with oneself brings no trouble at all. Thirdly, the Japanese population is old, the average age is 47, thus digital payments slowly adjust among citizens.
Summer Olympics in Tokyo
In 2020, the worldwide competition – the Olympic Games – are held in Tokyo. The government rose awareness of lack of electronic payment devices around the country. Thus, it is pushing banks and merchants to find solutions regarding to this problem. Moreover, the government is planning to increase the percentage of people using payment services after the Olympics.
J-Coin To Replace Cash
As a part of the policy of implementing electronic payments, the largest bank in Japan, Mizuho, as well as other 60 financial institution are releasing digital wallet called J-Coin. In the operating method, it resembles AliPay and WePay – scan QR-code and pay. According to the representatives of Mizuho bank, J-Coin has nothing to do with crypto or blockchain in any form.
American business magazine Forbes has updated its annual list of the wealthiest people in the whole world, stating that, in overall, the amount of billionaires has dropped as no one is “immune to economic forces and weak stock markets.” Nevertheless, let us look how much money the ultra-rich and just rich are in possess right now.
The list is topped by the CEO and founder of Amazon – Jeff Bezos, the estimated amount of money accounts for $131 billion. His fortune has swelled by $19 billion in just one year, making him the richest person in the universe for the second time in a row.
The second place was occupied by the principal founder of Microsoft – Bill Gates, his fortune is estimated for $96,5 billion. Gates has become the wealthiest person for 12 times, his riches has grew up by approximately $6 billion in compare to 2018.
The top three ultra-rich people is closed by Warren Buffet – the world-known investment guru. The most successful investor of all the time possesses $82,5 billion. Interestingly, he claimed that he would donate 99% of his fortune.
The top ten of the world’s billionaires list:
The list also includes Mark Zuckerberg ($62,3), who has been battling with privacy problems on Facebook; Jack Ma ($37,3) took #21 position, in September 2018, he announced he would resign as Alibaba’s executive chairman; Elon Musk placed #40 with the fortune of $22,3 billion, even though he had some problems with the SEC earlier this year, his company SpaceX was valued at $20 billion.
The youngest self-made billionaire became Kylie Jenner, at the age of 21, her net worth is estimated at $1 billion. She owns 100% of her own company – Kylie Cosmetics, with the annual income of $360 million.
In general, this year’s list is 55 fewer billionaires than it was last year, the most since the economic crisis in 2009. Nonetheless, 195 newcomes made them to the list. The future is unpredictable that is why let us together see what happens next.