>>Forsage Founders Indicted (Portland, OR) -- Four founders of cryptocurrency platform Forsage have been indicted by a federal grand jury in Portland for allegedly running a global Ponzi and pyramid scheme. Federal prosecutors say the four Russian nationals are accused of raising 340-million dollars from victim-investors. Their scheme allegedly used Ethereum, Binance Smart Chain, and Tron blockchains. Analysis of the computer code showed it was consistent with a Ponzi scheme. The U.S. Department of Justice has established a website where victims can identify themselves and obtain more information on their rights as victims.
>>Biden Administration Cuts Some Mortgage Fees In Housing Affordability Crisis
(Washington, DC) -- The Biden administration is cutting mortgage insurance fees to help more Americans become homeowners. The change announced Wednesday will save an estimated 850-thousand low and middle income and first-time buyers an average of 800 dollars on home financing costs. It will lower the annual premium on mortgage insurance premiums for new borrowers who get loans insured by the Federal Housing Administration. The change takes effect on March 20th.
>>Fed Minutes Indicate Need For Ongoing Rate Hikes
(Washington, DC) -- Ongoing interest rate hikes will likely be needed to bring down inflation. That's what Federal Reserve officials indicated at their most recent meeting earlier this month. Minutes from the meeting show most officials agreed to a quarter-percentage point increase, the smallest hike since March of last year. Some members wanted a half-point increase. While there are signs inflation is coming down, officials said their concern over inflation is high as it remains well over the two-percent target.
>>Report: Meta Plans To Cut Thousands Of Jobs
(Menlo Park, CA) -- Facebook-parent company Meta is planning to cut thousands of jobs despite the CEO predicting no more layoffs. The Washington Post reports the company is getting set to put some leaders into lower level roles without direct reports. Other leaders may end up overseeing a higher number of workers as teams grow bigger. Some inside the company expect employees whose jobs have been converted to eventually quit, which will trim Meta's workforce by default. The cuts will likely not happen on single day, but will happen across the company over the next few months.
>>New Spotify DJ Tool Uses AI To Spin Personalized Mixes
(Stockholm) -- Spotify is rolling out a new feature that uses artificial intelligence to mix your music. The music streaming service's new DJ tool also offers commentary on music and artists. Spotify announced the beta rollout of DJ on Wednesday and says the feature mixes a selection of songs you might like based on data alongside an AI commentator that sounds like a radio DJ.
>>SeaWorld San Diego Switches To Alternative Pay Plan
(San Diego, CA) -- As the old saying goes, don't leave home without it. Make sure to take your debit or credit card if you're planning a trip to SeaWorld San Diego. The theme park's no-cash policy went into effect yesterday. You can also use mobile payments like Apple or Google pay. SeaWorld is providing kiosks around the park where you can also purchase a pre-paid debit card to buy items like food, clothing or a stuffed Shamu if you like.
