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In a remarkable turn of events, the social media giant Twitter has undergone a series of intriguing transformations, culminating in the replacement of its iconic blue bird logo with a mysterious “X.” But the changes didn’t stop there – the platform itself has been rebranded as X.com, signifying a significant shift in its identity and…

In an era heavily reliant on instant communication, the recent WhatsApp server outage has sent shockwaves through the global online community. As users experienced connectivity disruptions, concerns grew and Twitter became ablaze with a deluge of tweets, amassing a staggering 25,300 posts in just one second. This unexpected event has prompted a worldwide discussion on…

Cyclone Biporjoy started from the east-central and southeast Arabian Seas and will shift northwards over the coming hours, intensifying into a severe cyclonic storm with winds between 135-145kmph reaching 160kmph over three to four days. As a precautionary measure, fishermen have been advised not to venture into the sea, and the weather office has issued…

Only 104 of the 700 migrants aboard a boat that sank off Greece coast were rescued on Wednesday. The survivors are now being processed and brought to various European capitals for resettlement. The shocking tragedy underscores the need for Europe to do more to help those who have risked their lives risking everything for a better life.

Binance, one of the world’s leading cryptocurrency exchanges, currently offers Bitcoin at an amazing discount of 21% against the Australian dollar (AUD). This significant price difference can be attributed to recent events, including the temporary suspension of Binance’s Australian dollar services and the impending conversion of remaining funds to USDT (Tether). The factors behind Binance’s…

A global financial recession has hit. The first financial crisis was started in 2007-2008. It began with market disruptions, and markets suddenly crashed then. In September 2008, Lehman Brothers was a major US financial firm bankrupt.
A global financial recession has hit. The first financial crisis was started in 2007-2008. It began with market disruptions, and markets suddenly crashed then. In September 2008, Lehman Brothers was a major US financial firm bankrupt.
What caused the 2008 financial crisis?

The 2008 Global Financial Crisis marked one of the worst economic crises of our lifetimes, sending stock markets reeling, financial institutions collapsing, and consumers scrambling.

The 2008 global financial crisis had multiple underlying causes that contributed to its onset. One significant factor was the housing market bubble in the US, caused by lax lending standards, risky loan practices and securitized mortgages. Financial institutions packaged mortgage loans into complex financial products known as mortgage-backed securities (MBSs) and collateralized debt obligations (CDOs), which were then sold off to investors worldwide.

However, as the quality of these mortgages declined and borrowers started defaulting on loans, their value decreased rapidly, leading to substantial losses for banks and other financial institutions.

Leverage was widespread among financial institutions, making them even more susceptible to market fluctuations and increasing their vulnerability. Global financial interdependence further compounded this crisis as toxic assets spread throughout it. It caused failures and panic to ensue quickly.

Inadequate regulation and oversight of the financial industry and its lack of transparency and risk evaluation contributed significantly to this crisis. It serves as a stark reminder of the dangers posed by unsustainable lending practices and excessive risk-taking and the necessity of robust regulatory frameworks in maintaining system stability.

Are we ignoring warning signs? An analysis of global economic indicators.

US stocks like US 30, US 100, etc., were up in 2008.Technically, now again, they are on the same static and will fall at any time.Experts believe that the recession could last until the end of 2024.Too many currencies, like NZD, JPY, AUD and USD, are destabilised.

JPYUSD
we observe the JPYUSD chart declining steadily without signs of recovery and no indications for a pullback, it could easily reach the ATL (Time Low), which is currently 0.006576. If it does this, recovery won’t come easy, and further losses might follow.

DJI US30

If we take a look at DJI, which is one of the strongest indexes of America, ranging in the same price for a while
25-05-2023 on fundamental release, DJI temporarily recovers 1.59%.

United States residents witnessed several major banks close within four months, sending shockwaves through the financial system and raising concerns for other institutions’ stability. While future bank collapses cannot be predicted with precision, it’s essential to recognize that the financial sector can be vulnerable due to economic downturns, excessive risk-taking, inadequate regulation, or unexpected events.

XAUUSD

Gold has recently experienced a remarkable uptrend and reached its all-time high (ATH). This remarkable rise can be attributed to several key factors. First and foremost, the financial crisis that began in 2008 created an atmosphere of economic insecurity and risk aversion among investors. At such times, gold is an effective store of value.
Gold’s price tends to increase during financial instability because investors consider it a safe haven asset. When problems such as economic downturns, political unrest, or market fluctuations arise, investors often turn to gold as an asset that provides protection from inflation or instability – an attractive choice given gold’s long history as an inflation hedge and store of value. With increased demand driven by increased investing activity into gold reserves resulting in price spikes, an observed pattern reinforces gold as an ideal option in times of financial crises.

Hotbit has announced its intention to shut down its centralized exchange operations on June 21, 2023, by 4:00 UTC. They state any refund requests after this deadline will no longer be processed by their team.

The fire that erupted at Centaurus Mall in Islamabad was quickly extinguished by the efforts of the rescue teams, Express News reported on Sunday.