Finance
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Zcash spikes 30% after Multicoin managing partner says firm bought the token, calls it protection against wealth taxes
ZEC, the native token of the privacy-focused Zcash network, rose by more than 30% after Multicoin Capital co-founder and managing partner Tushar Jain said the crypto fund had built a “significant position” in ZEC since February. “Zcash is a return to the cypherpunk ideals crypto was founded on,” Jain wrote on X. “California’s proposed wealth
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You’re paying 50% more for gas than you did before Trump went to war in Iran
The price of a gallon of regular gasoline climbed 31 cents in the past week, spiking to an average of $4.48 per gallon Tuesday, according to AAA, hitting the wallets of drivers after rising 50% since the war with Iran began. The main reason drivers are paying more at the pump is because of the
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The IRS may owe COVID-era refunds to tens of millions of taxpayers. Here’s who could qualify
Tens of millions of taxpayers may be able to get money back from the IRS for certain penalties and interest they were charged during the COVID-19 pandemic, according to a recent blog post from National Taxpayer Advocate’s Erin M. Collins. But the refunds are not automatic, and most taxpayers who may qualify need to file
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‘Different from anything in the past 80 years of dollar dominance’: U.S. sanctions spur a ‘paradox’ pushing allies away from American currency
The world’s de-dollarization push continues, but this time, it’s America’s allies who are pulling back from greenbacks. Canadian Prime Minister Mark Carney announced last week a $25 billion sovereign wealth fund to bolster domestic infrastructure, part of an effort to make Canada’s economy less dependent on the U.S. The move follows France’s withdrawal of all
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Current price of oil as of May 6, 2026
At 8:30 a.m. Eastern Time today, the price of oil sits at $106.52 per barrel, using Brent as the benchmark (we’ll explain what that means shortly). That’s a decrease of $10.03 since yesterday morning and roughly $44 more than at this time last year. oil price per barrel % Change Price of oil yesterday $116.55
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A year after Liberation Day, Trump’s tariffs have done ‘significant damage’ to the U.S. economy, says Moody’s chief economist
Economists now have more than a years’ worth of data to pick over when it comes to the impact of Liberation Day tariffs. While some might argue the revenue tariffs have generated are a gamechanger for the economy, others point to cost for those paying them. Mark Zandi, chief economist at Moody’s Analytics, is concerned
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Europe’s jet fuel supplies should fall below the key 23-day shortage threshold in June, so plan your travel accordingly
Europe is weeks away from crossing a critical threshold that represents a severe and immediate shortage of jet fuel, triggering many more flight cancelations and even the possible closures of smaller airports. A new Goldman Sachs research report estimates that Europe’s commercial jet fuel inventories are slated to dip below the International Energy Agency’s critical
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Supermicro CEO insists ‘no one’ beyond indicted employees were involved in alleged $2.5 billion smuggling scheme
Super Micro Computer CEO Charles Liang spoke out during the company’s fiscal third quarter earnings call to deliver a message. “No one” at the company besides three indicted employees—including cofounder Yih-Shyan “Wally” Liaw—were involved in what prosecutors have called an elaborate scheme to smuggle servers to China in violation of U.S. export controls, said Liang.
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Over 98% of stablecoins are dollar backed. That’s good for the U.S.—until it’s not
Stablecoins, a form of cryptocurrency pegged to a real world asset, are becoming part of the global financial system, with firms like Visa and Stripe rushing to distribute them. They are also overwhelmingly dollar based. While there are euro stablecoins and gold stablecoins, more than 98% of the total market supply is pegged to the
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Dario Amodei spent last year warning of an AI white-collar bloodbath. Now he’s changing the narrative
For most of last year, Dario Amodei was one of Silicon Valley’s most prominent doomsayers on AI and employment. The Anthropic CEO said publicly and repeatedly that AI could eliminate half of entry-level, white-collar knowledge work within years — the kind of stark projection that made him the rare tech founder willing to say out