Cash
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US removes sanctions against Tornado Cash crypto mixer
The U.S. Department of Treasury announced today that it has removed sanctions against Tornado Cash, a cryptocurrency mixer used by North Korean Lazarus hackers to launder hundreds of millions stolen in multiple crypto heists. The Department’s Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash in August 2022 for helping launder over $7 billion since its creation in 2019. However, a Monday…
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Have Some Spare Cash? You’ll Need it for OpenAI’s New API
OpenAI researcher Hyung Won Chung. Image: OpenAI/YouTube Reasoning models, which dedicate time to thoroughly thinking through prompts, are at the front of the generative AI pack. OpenAI announced on March 20 o1-pro, a heavy-duty version of one of its reasoning models. Developers on any of OpenAI’s paid tiers can find o1-pro in the OpenAI API starting today. Those with higher…
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The 7 Best Cash Management Accounts Reviewed for 2025
Cash management accounts are held at non-bank financial institutions (NBFIs), investment firms, fintechs, payment processors, or brokerages. Generally, those needing cash management accounts have other investments housed at these depositories, such as stocks, bonds, mutual funds, certificates of deposit (CDs), or Individual Retirement Accounts (IRAs). Cash management accounts can be set up for personal or business use, depending on your…
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Ransomware gangs are rolling in cash, with hackers taking home $459.8 million in the first half of 2024 alone
It’s been a good year for ransomware gangs, new research shows, with threat actors having made more money so far this year than ever before. A new report from Chainalysis puts the sum at $459.8 million for the first six months of 2024.This, the report noted, is largely down to ‘big game hunting’ – criminals carrying out fewer attacks, but…
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These New 401(k) Rules Make It Easier to Access Your Cash
The IRS has clarified a provision of the SECURE 2.0 Act passed in 2022, now expanding the use of tax-deferred retirement accounts as emergency funds. Previously, retirement savers with an “immediate and heavy” financial need could technically make an early withdrawal from their 401(k)s and traditional individual retirement accounts. However, that early withdrawal would be subject to income tax, and…
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