The post Block Inc Cash App $45M Settlement Over Fraud Failures appeared on BitcoinEthereumNews.com.
When millions of Americans — many of them without traditional bank accounts — downloaded Cash App and started treating it as their primary financial home, they were told it was as safe as a bank. Regulators say that promise was false. Now, Block Inc., the Jack Dorsey-led company behind Cash App, has agreed to pay $45 million to settle allegations brought by nearly every U.S. state, resolving one of the most significant consumer protection actions ever taken against a mobile payments platform. Key takeaways Block Inc. agreed to a $45 million settlement with regulators from almost every U.S. state over Cash App fraud protection failures. Regulators alleged Cash App was marketed as being as secure as a traditional bank, a claim investigators say was misleading. The company was accused of lacking a consistent fraud detection system and failing to operate a functioning scam-reporting hotline
The post Bitcoin Price Prediction as Trump Warns of More U.S. Strikes on Iran appeared on BitcoinEthereumNews.com.
Bitcoin remained under pressure as U.S.-Iran tensions pushed traders away from risk assets. The BTC price slipped below $62,000 after losing 3.17% in 24 hours to $61,777. The move tracked a wider market pullback, as total crypto market capitalization fell 3.08% to $2.13 trillion. Selling pressure increased after President Donald Trump said the Iran ceasefire was over. He also warned that the U.S. could launch more strikes after accusing Tehran of violating prior agreements. The latest comments unsettled global markets and lifted oil prices. The disruption of supply in case of tension that poses a threat to shipping routes along the Strait of Hormuz was feared by the traders. 🚨 Markets Slide as US-Iran Tensions Escalate President #Trump declared the U.S.-Iran #ceasefire is over, triggering a broad #market selloff.#Oil jumped 5%, major U.S. stock indexes fell, and the crypt
The post 46 states reach $45 million Cash App settlement with Block over fraud appeared on BitcoinEthereumNews.com.
Block (NYSE: XYZ) agreed to pay $45 million and rebuild Cash App’s fraud protections to settle claims from 46 state attorneys general that it misled users about the app’s safety and abandoned fraud victims, the coalition announced Wednesday. The bipartisan group, led by Oregon and Texas, said the payments company assured Cash App’s 56 million-plus users that their money was as safe as it would be in a bank, even as fraud on the platform climbed. New York Attorney General Letitia James, who helped secure the deal, said Block “cared more about profits than protecting its users.” Who gets the money? The $45 million will be shared by the participating states rather than paid to consumers directly. New York takes $1.6 million in penalties, Washington takes $1.8 million, Connecticut collects $1.5 million, while New Jersey gets $892,753, and Massachusetts gets $730,000. Nebraska
The post Fed flags AI inflation risk as rate hike odds climb above 59% appeared on BitcoinEthereumNews.com.
The Federal Reserve has warned that strong artificial intelligence-related demand could keep inflation elevated, while market pricing for a U.S. interest rate hike this year has climbed above 59%. Summary Fed minutes identified AI demand, tariffs, and Middle East tensions as potential drivers of persistent inflation. Most Fed officials said higher rates may be needed if inflation stays above the 2% target. Polymarket now prices a 59% chance of a Fed rate hike this year, while July pause odds remain at 69.5%. According to the minutes of the Federal Reserve’s June Federal Open Market Committee meeting, policymakers discussed several paths for monetary policy depending on how inflation and the labor market develop. One of the scenarios considered involved inflation staying above the central bank’s 2% target despite a stable labor market, driven by strong AI-related demand, the confl
The Federal Reserve has warned that strong artificial intelligence-related demand could keep inflation elevated, while market pricing for a U.S. interest rate hike this year has climbed above 59%. According to the minutes of the Federal Reserve’s June Federal Open…
The post Jack Dorsey’s Spiral Expands Into AI With Goose Team appeared on BitcoinEthereumNews.com.
Spiral has brought in the core team behind Block’s Goose AI framework. The goal is to turn Goose into a bigger open‑source platform for autonomous AI agents. Jack Dorsey believes that both Bitcoin and AI should develop as open ecosystems. Jack Dorsey’s Bitcoin open‑source project, Spiral, is moving beyond Bitcoin infrastructure and stepping into agentic AI. It was reported that Spiral has brought in the core team behind Block’s Goose AI framework to turn Goose into a bigger open‑source platform for building autonomous AI agents. In the past, Jack Dorsey has said that both Bitcoin and AI should develop as open ecosystems rather than being locked up by a few large tech companies. As such, this announcement aligns with his views and strategy. What is Spiral? Spiral is an independent, open-source project funded by Block, Jack Dorsey’s fintech company. It started as Square Crypto but rebranded
The post U.S. Market Expected To Lead Multibillion Dollar Investments In LNG appeared on BitcoinEthereumNews.com.
Golden Pass LNG storage tanks and cargo transfer arms at Port Arthur, Texas, U.S. (Photo: Marie D. De Jesus) Houston Chronicle via Getty Imag The war in the Middle East may have clouded the near-term outlook for the global liquified natural gas market, but few can call into question the demand trajectory of LNG driven by the power sector. An anticipated increase in global energy demand from artificial intelligence and hyperscale data centers, that simply cannot be serviced by renewable energy alone, augurs well not just for the LNG trade but for all advocates of the natural gas market. That’s particularly significant for one producer and exporter at the heart of it all – the United States. It is world’s most prolific builder of data centers and accounts for the largest number of hyperscale data centers worldwide. California’s Silicon Valley and Ashburn, Virginia are major h
The post After a four-year U.S. ban, Polymarket mounts a major comeback campaign appeared on BitcoinEthereumNews.com.
Polymarket, which began its return to the U.S. after a four-year ban with the acquisition of QCEX a year ago and the introduction of a mobile trading app in December, has started a campaign to persuade policymakers, regulators and potential users that it is trustworthy, Associated Press reported on Wednesday. According to AP, Polymarket is working with social media influencers to produce viral marketing on TikTok and other platforms and has signed partnership agreements with major sports teams and Major League Baseball as well as news outlets including CNBC and CNN. The steps Polymarket is taking in the U.S. will help legitimize it despite the issues it has faced in the past, Dan Lee, head of U.S. operations, said in an interview with AP on Wednesday. “I think having the international business being the bulk of the volume, it often sort of masks the progress we are maki
The post US – Iran War News: Bitcoin and Ethereum Drop as Trump Declares Ceasefire is ‘Over’ appeared on BitcoinEthereumNews.com.
The post US – Iran War News: Bitcoin and Ethereum Drop as Trump Declares Ceasefire is ‘Over’ appeared first on Coinpedia Fintech News Bitcoin and Ethereum prices have again dropped more than 2% today after U.S. President Donald Trump declared the ceasefire with Iran was “over.” This came after the U.S. launched strikes in response to Iran’s attacks on three commercial vessels in the Strait of Hormuz. Following this news, as oil jumped 6%, Bitcoin fell to $61,700, … Source: https://coinpedia.org/news/why-are-bitcoin-and-ethereum-prices-dropping-again-u-s-iran-ceasefire-over/
