Category: Business

  • Sharp Crash in Bitcoin Mining Stocks: Four Major Companies Drop More Than 12% in a Single Day

    Sharp Crash in Bitcoin Mining Stocks: Four Major Companies Drop More Than 12% in a Single Day

    At the heart of the sell-off are the higher-than-expected US inflation figures. Concerns that persistent inflation could push the Federal Reserve to keep interest rates high for longer or consider another rate hike have accelerated the exit from companies priced with high growth expectations.

    The S&P 500 fell 1.1%, its sharpest daily loss since July 29. The technology-heavy Nasdaq Composite declined 1.9%. AI data center operator CoreWeave dropped 16%, Nebius 11%, and Oracle 9%.

    Many Bitcoin mining companies have recently begun leasing their energy infrastructure to AI and high-performance computing clients. While this transformation creates new revenue streams, it also makes companies more vulnerable to valuation fluctuations in the technology and AI sectors.

    Daily declines alone do not determine the long-term performance of companies. However, investors are now paying more attention not only to large AI contracts but also to the financing costs, delivery schedules, and profitability of these projects.

    *This is not investment advice.

  • BlackRock’s Crypto Assets Increased by 63% in Three Months: Added $7.9 Billion to its Vault

    BlackRock’s Crypto Assets Increased by 63% in Three Months: Added $7.9 Billion to its Vault

    Investors poured a net $7.9 billion into BlackRock’s digital asset products during the same period. This inflow more than offset the approximately $2.2 billion outflow recorded in the first six months of 2026. The data shows that institutional investor demand strengthened again in the third quarter after market pressure in the first half of the year.

    Despite this, BlackRock’s crypto assets remain below last year’s levels. A year ago, the company managed approximately $104 billion in digital assets. The current figure is 23% lower than that. While there has been a net inflow of $6.3 billion into assets over the past 12 months, price declines have wiped out approximately $30.6 billion from the total value.

    BlackRock generated $39 million in fees and securities lending income from its digital asset products, including the iShares Bitcoin Trust, in the third quarter. The company did not separately disclose asset and cash flow figures for its Bitcoin fund in its balance sheet. Therefore, the exact breakdown of the $79.6 billion total across the products is unknown.

    *This is not investment advice.

  • Pregnant mum, 35, found dead in burning van ‘was alive when fire started’

    Pregnant mum, 35, found dead in burning van ‘was alive when fire started’

    A man has been charged with murder after a pregnant woman was found dead inside a burning van in Wales earlier this month.

    The body of Samantha Natalie Phythian, known as Sammi, was discovered in the van on Gas Works Lane in Prestatyn on 4 October.

    At an inquest into her death this week, John Gittins, senior coroner for North Wales East and Central, said the 35-year-old was pronounced dead at 11.30pm and was identified through her DNA, WalesOnline reports.

    Home Office consultant pathologist Dr Brian Rodgers said Sammi’s provisional cause of death is ‘inhalation of smoke and fire gases’.

    Thomas Matthew Hammond Bell, 38, has been charged with murder. He is set to enter a formal plea on 27 November, with a provisional trial date scheduled for April next year.

    North Wales police confirmed that a second man, 47, has been arrested.

    Sammi was found dead on 4 October (Facebook)

    Sammi was found dead on 4 October (Facebook)

    Detective Chief Inspector Zoie Dunkerley stated: “Our investigations into this incident are moving at pace, and we are currently exploring every avenue of information open to us.

    “I would like to thank those members of the community who have already contacted us, and ask that anyone else who has any information, however small to contact us via our live webchat or on 101 quoting reference number 26000816112.”

    Dunkerley added: “My thoughts are with Sammi’s family and friends. I would also urge the community to be careful of commenting anything which would add to the family’s distress or interfere with the ongoing active legal proceedings.”

    In a tribute, Sammi’s family described her as a ‘much-loved mum, daughter, sister, auntie and friend’.

    Sammi's family have since paid tribute (North Wales Police)

    Sammi’s family have since paid tribute (North Wales Police)

    The family said: “Samantha, who everyone knows as Sammi, will be remembered for the special place she held in the hearts of everyone who knew and loved her.

    “Her tragic and untimely death has left her family and friends devastated, struggling to come to terms with the loss of someone who meant so much to so many.

    “No family should ever have to endure the pain of losing a loved one in such circumstances.

    “While her life has been cruelly cut short, the memories she created, the love she gave and the lives she touched will never be forgotten.

    “She will forever be cherished by those who loved her, and she will be deeply missed.

    “As a family, we would like to ask people to be mindful and respectful of rumours circulating over social media platforms at this devastating time.”

  • OpenAI London employees get an average of £2.3m per person each year, accounts show

    OpenAI London employees get an average of £2.3m per person each year, accounts show

    Records have revealed the eyewatering salaries that OpenAI’s UK staff are paid and I promise you, it’s going to have you rushing off to polish up your CV.

    It’s no secret that AI is big business these days, with Anthropic, the company behind Claude, valued at a whopping $965 billion back in May (£728bn), and OpenAI seeking a $1.4 trillion (around £1tn) valuation just last month.

    With such massive numbers, it probably comes as little surprise that the team working at such companies are impressively compensated.

    And now accounts have been revealed that show just how generously staff are paid.

    Last year’s acounts for OpenAI UK Ltd, which is based in Westminster, showed that there were 110 staff members who split £87m in salaries and £168m in shares in the company.

    Doing a quick bit of maths, that means the average salary was £2,318,181 last year.

    See? I told you, you’d want to go and sort your CV out.

    OpenAI offers very generous salaries (Heather Diehl/Getty Images)

    OpenAI offers very generous salaries (Heather Diehl/Getty Images)

    For a bit of context, the Office of National Statistics found that the median annual earnings for full-time employees in the UK was £39,039.

    So using this average salary, you’d need to work 58 years to match the average salary of a UK-based OpenAI worker.

    However, according to the Guardian, there’s reportedly a large discrepancy between the AI company’s lowest and highest earners.

    The largest pay packets are dished out to researchers who help to build OpenAI’s models, including Astra.

    It’s also important to note that the figures are from 2025 when there was a bit of a talent war amongst AI companies to land themselves the best and brightest staff.

    Other companies in the space, such as Meta, were reportedly offering multi-year salary packages that amounted to hundreds of millions of dollars.

    When approached by the Guardian, OpenAI declined to comment on its salaries.

    Meanwhile, last month, it was revealed that OpenAI was offering up very generous compensation packages as it builds out its robotics efforts.

    The company had more than two dozen robotics jobs listed on its careers page in September, across various areas, including software, hardware and data collection.

    It isn’t the only tech giant spending big on hiring talent ( Samuel Boivin/NurPhoto via Getty Images)

    It isn’t the only tech giant spending big on hiring talent ( Samuel Boivin/NurPhoto via Getty Images)

    And these new roles came with some top-notch salaries, with publicly available information showing that the base wages ran from a way-above-average $177,000 (£133,600) to a frankly-staggering $500,000 (£377,400) a year, before equity.

    The roles on offer included a lab tech tasked with helping to ‘develop, build, test, and iterate on robotic systems’ and actuator design engineers who are responsible for building the various parts of bots that help them move.

    The highest-paid listing, as reported by Business Insider, was for a role for a ‘machine learning engineer’ who would be working on distributed data systems, infrastructure for processing, and moving huge amounts of robotics training data across computers.

    Now, while that might all sound like an awful lot to get your head around, it does come with a salary of a half a million dollars per year.

    Anyone else wishing they’d paid more attention in their IT classes?

  • New poll reveals number of brits who wouldn’t fight for the uk if war broke out

    New poll reveals number of brits who wouldn’t fight for the uk if war broke out

    Half of the public say under no circumstances they would go to war for the UK, according to a new poll.

    48 percent of voters said they would not join the army, despite the ongoing threat from the likes of Russia, China and Iran.

    Ipsos said the figure is unchanged from last year’s poll, as 36 percent, this year, said there were circumstances in which they would fight, up one percent from previous.

    Hamish Mundell, an associate fellow at the Royal United Services Institute, said there were questions about ‘Britain’s willingness to fight and make sacrifices’, but added the Ipsos poll did not suggest the country would be unable to mobilise in the event of WW3.

    “I think the most important thing to take away from this polling is that we should be careful about confusing what people say they would do in peacetime with how they might actually behave in a national emergency,” he told the Press Association.

    Many Brits wouldn't want to go for war for the UK despite rising concern about the threat from Russia, China and Iran (Getty Stock Images)

    Many Brits wouldn’t want to go for war for the UK despite rising concern about the threat from Russia, China and Iran (Getty Stock Images)

    Mundell thinks the army won’t be overly concerned by the poll because their main concern is being able to train and prepare people for war, not getting extra people to sign up.

    He added: “I can’t see the number of people willing to fight decreasing if the UK started suffering at the hands of a foreign power during a conflict.”

    In the male category, more people said they would fight than would not, with 48 percent saying there were circumstances in which they would go to war, while 40 percent saying they would not be willing to do so.

    The majority of women and people aged 35-54 said they would not fight, the poll found.

    Although Mundell said the figures were ‘hardly surprising’, he said it was ‘disheartening that we don’t seem to have any form of leadership from the Government on a pathway to Britain’s 3.5 percent Nato commitment’.

    Half of the public say under no circumstances they would go to war for the UK (Getty Stock Images)

    Half of the public say under no circumstances they would go to war for the UK (Getty Stock Images)

    Last year, the UK and other Nato allies agreed to spend 3.5 percent of GDP on ‘core defence’ by 2035 under pressure from Donald Trump to increase military spending.

    Mundell added: “I am sceptical that we need another national conversation before we can make those decisions.

    “We need political leaders to explain the threats facing the country, set out what needs to be done and just go and do it, even where that might prove contentious.”

    The Ipsos poll surveyed 1,090 British adults between 29 September and 1 October.

    A Ministry of Defence spokesperson said: “In an increasingly dangerous world, we are stepping up to protect the UK.

    “There has never been a more important time to join defence and with more people now joining the armed forces than leaving, that reflects the growing confidence in the opportunities and benefits that service life offers.

    “This Government is determined to build on that progress.

    “A career in the armed forces provides incredible opportunities for people from all backgrounds to develop their skills, fulfil their potential and come together in the shared defence of our nation.”

  • Child, 10, almost blinded after copying YouTube influencer’s ‘life hacks’

    Child, 10, almost blinded after copying YouTube influencer’s ‘life hacks’

    The mother of a 10-year-old girl who poured nail polish remover in her eyes says she can’t wait for a blanket ban on social media for under-16s to come into effect.

    Rebecca Soal said she was horrified to discover her 10-year-old daughter, Phoebe, had wiped the solvent across her lips before putting several drops in each eye after seeing an influencer ‘hack’ on social media.

    “This stupid video said it’s a good alternative to eye drops,” Rebecca, from Caerphilly, Wales, said.

    “She went into the bathroom, grabbed my nail varnish remover, tapped it on a cotton bud and wiped it all over her lips.

    “Then she dropped [some] drops in each eye.”

    The stay-at-home mum revealed that she only became aware that Phoebe had done so after smelling nail varnish remover while taking her younger daughter upstairs to bed.

    10-year-old Phoebe ended up in hopsital after copying an influencer 'hack' she'd seen online  (Kennedy News and Media)

    10-year-old Phoebe ended up in hopsital after copying an influencer ‘hack’ she’d seen online (Kennedy News and Media)

    “I got that gut feeling, I went to my daughter, and it clicked. It was frightening,” the mum said. “Her lips and eyes were red.”

    Rebecca went on to explain that it took a while for Phoebe to admit that she’d used the nail polish remover after seeing videos online, adding: “They use water in the videos to gain likes, they’re joking, but kids take it literally.

    “We’ve seen a lot of similar videos and it’s absolutely disgusting.”

    “You don’t expect kids to take part in trends.”

    Petrified that her daughter had permanently damaged her eyesight, Rebecca rushed her daughter to the hospital, where doctors flushed each eye with a litre of saline water in order to ensure all of the chemicals were washed out.

    While the nail polish remover was acetone-free, meaning that Phoebe avoided causing serious permanent damage to her eyes, the family do not know how her vision will be affected in the long term.

    “We’re waiting for a specialist appointment for her eyes,” Rebecca explained. “So we don’t have the full picture at the moment.”

    While the nail polish remover was acetone-free, it did contain the eye irritants ethyl acetate, isopropanol and bitrex (Kennedy News and Media)

    While the nail polish remover was acetone-free, it did contain the eye irritants ethyl acetate, isopropanol and bitrex (Kennedy News and Media)

    Phoebe also suffered a chemical burn to her lips, which the family are treating with Vaseline to make sure it doesn’t crack.

    “Doctors said she was really lucky,” she added.

    Rebecca has since banned her children from social media, stating that the family were now going to be a lot more ‘vigilant’ when it comes to monitoring their online activity.

    She is also in full support of the UK’s upcoming social media ban, which will effectively lock anyone under the age of 16 out of platforms such as Facebook, Instagram, X and TikTok.

    Announced back in June, the Labour government hoped the move, which mirrors a similar social media ban in Australia, will kickstart a ‘cultural shift’ and allow children to grow up offline.

    “It’s just scary. We can’t wait for this government ban because it’s not safe to do anything anymore,” she said.

    Rebecca now says she 'can't wait' for the social media ban to into effect (Kennedy News and Media)

    Rebecca now says she ‘can’t wait’ for the social media ban to into effect (Kennedy News and Media)

    “They go on YouTube to watch their favourite Roblox videos, you don’t expect kids to take part in trends,” she continued.

    “All my children now are on a ban, we can’t take any more risks.”

    When approached about the videos, YouTube said it was investigating how the clips made it onto the platform. A quick search on the video-sharing platform returned no results for nail polish remover hacks.

    “Be more vigilant with your children,” Rebecca added. “I know you trust your children, but do you trust them enough not to be influenced?

    “I’m hoping she understands what she has done now.”

  • Anti-Bitcoin Peter Schiff Warns: Switch to Gold Before the Market Crashes!

    Anti-Bitcoin Peter Schiff Warns: Switch to Gold Before the Market Crashes!

    According to Schiff, political developments in the US, rising inflation, and bond yields are among the factors that could put pressure on risky assets. The renowned investor believes these conditions could lead to a broader correction in financial markets.

    Schiff, in particular, highlighted the potential impact of rising bond yields on asset prices and expressed doubts about the sustainability of the current market outlook.

    Schiff, known for his criticisms of Bitcoin, considers gold a long-term store of value. In his latest statement, he reiterated his view that people should invest in gold instead of Bitcoin.

    Schiff’s assessments are based on the belief that Bitcoin’s current price levels do not adequately reflect economic risks. However, these statements reflect the investor’s personal market expectations.

    Bitcoin’s future price movements will depend on global economic conditions, investor demand, and developments in financial markets. Whether the sharp decline predicted by Schiff will materialize remains uncertain.

    *This is not investment advice.

  • BlackRock’s Fink names a U.S. recession trigger, sounds alarm over $40 trillion national debt

    BlackRock’s Fink names a U.S. recession trigger, sounds alarm over $40 trillion national debt

    He also pointed to data centers’ job creation, noting demand for construction workers, energy infrastructure and AI compute hardware.

    Moody’s estimates planned capital spending on U.S. data centers at $700 billion this year, rising to between $2.4 trillion and $2.48 trillion through 2030. Globally, spending is expected to reach $7 trillion by the end of the decade.

    Any attempt to stifle that spending could have wide-ranging effects. The U.S. economy is already stressed on several fronts, including sticky inflation and rising bond yields.

    A recession would matter for crypto traders too, since it typically reduces investors’ appetite for risky assets. Bitcoin proponents hail it as a haven, but it has historically faced selling pressure during broad-based risk aversion. At press time, the cryptocurrency traded near $81,200, down 0.8% since midnight UTC.

    BlackRock’s iShares Bitcoin Trust (IBIT) is the world’s largest publicly listed bitcoin fund, with cumulative net inflows of $65.62 billion since its debut in January 2024, according to SoSoValue.

    $40 trillion debt

    Fink also pointed to government borrowing. “U.S. deficits are starting to have a serious impact,” he said, noting the national debt has gone from $8 trillion in 2000 to $40 trillion in 2026.

    “We grew $32 trillion in 26 years,” Fink said. “That’s a massive impact on demand for credit. The government is demanding more and more credit, and bond auctions are getting larger and larger.”

  • Arthur Hayes Reveals He Prefers Buying Bitcoin and Ethereum Instead of Focusing on the AI Bubble!

    The BitMEX co-founder emphasized that he maintains his bullish view on Bitcoin and Ethereum, in line with this expectation. Hayes’ approach focuses on the impact of potential economic stimulus policies on financial markets, rather than price movements in the AI sector.

    The main scenario highlighted in Hayes’ assessment was the possibility of large-scale financial bailout measures being implemented in the future. Such interventions are considered to potentially alter liquidity conditions in the markets and affect cryptocurrency prices.

    However, Hayes specifically stated that he did not foresee a collapse in the AI sector. His remarks did not provide details on when or under what conditions any rescue package might be implemented.

    Hayes’ optimistic approach to Bitcoin and Ethereum is based on the expectation of potential future liquidity expansion. However, there is no certainty that this scenario will materialize or lead to a rise in cryptocurrency prices.

    *This is not investment advice.

  • Ledger Asks Resellers in Seven Asian Markets to Pull Devices After Suspected $86M Drain

    Ledger Asks Resellers in Seven Asian Markets to Pull Devices After Suspected $86M Drain

    In brief

    • Ledger has asked resellers and distributors in six Southeast Asian countries and Hong Kong to suspend sales of its devices while it investigates tampered wallets.
    • The company said the only confirmed incidents remain in Southeast Asia, and that it has not verified a drain linked to a device bought elsewhere.
    • MediaMarkt Saturn has stopped selling Ledger devices in its stores and online after a customer in Germany reported an implant, though no funds were lost.

    Ledger has asked resellers and distributors in Southeast Asia and Hong Kong to stop selling its hardware wallets and take them off the shelves while it investigates devices fitted with a hidden implant, the company said in a tweet on Tuesday.

    The request covers Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia and Hong Kong.

    The only confirmed incidents remain in Southeast Asia, Ledger said, and it has not verified a drain linked to a device bought elsewhere. The company has previously said that all confirmed losses involve devices sold through CryptoBilis, a reseller in the region.

    Ledger is still working to establish who tampered with the devices and at what point in the distribution chain. It said it has no indication that its own infrastructure, systems, services or direct sales channel have been compromised.

    Ledger’s Donjon security team found that the implant reads the 24-word recovery phrase from the device’s screen during setup and sends it out over LTE. Anyone holding that phrase can restore the wallet and move its funds. Onchain investigator Specter has traced more than $86 million in suspected thefts, a figure Ledger says it has not verified.

    Earlier on Tuesday, MediaMarkt Saturn stopped selling Ledger devices in its stores and online, with Ledger’s agreement, after a customer in Germany reported an implant, Ledger said in a separate tweet. No loss of funds was reported.

    Myriad: Where does Ethereum go next? Click to make your prediction.
    Myriad: Where does Ethereum go next? Click to make your prediction.

    Rival hardware wallet maker Trezor said on Tuesday that it will end its authorizations for resellers on January 1, 2027, describing the move as a “precautionary measure.” Trezor said there was no evidence that its own devices had been compromised.

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