Day: November 17, 2024
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GCash Security Breach Highlights Risks as Philippines Moves Toward Digital Currency
The Philippine central bank is examining GCash following accusations of unauthorized transfers, which the company blamed on an internal system problem. The Bangko Sentral ng Pilipinas (BSP) has directed GCash to swiftly rectify the issue and compensate affected customers. BSP will conduct additional vulnerability assessments and assure regulatory compliance. GCash, which has 94 million users, has informed…
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Senator Pimentel Urges Fiscal Discipline Amid Record National Debt
Senate Minority Leader Koko Pimentel urged the government to show fiscal discipline in the face of mounting national debt, which reached a record high of P15.89 trillion in September. He voiced concern that an increasing share of government money is being spent on debt payments rather than public welfare. Pimentel opposed the reliance on new…
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America’s Debt Crisis: Can Crypto Be the Solution?
Elon Musk and Senator Rand Paul are warning about unsustainable U.S. debt, which Musk attributes to excessive government spending. Meanwhile, the total crypto market has topped $3 trillion, boosted by bitcoin’s near-$90,000 price and dogecoin’s 36% increase, thanks in part to Musk’s influence. Trump has advocated utilizing bitcoin to pay down the national debt, as…
