A selection of three essential articles read aloud from the latest issue of The Economist. This week, what is China getting wrong? Also, why the world should stand up to Putin (10:43). And, crypto and web3: libertarian dream, or socialist Utopia? (18:27).
A selection of three essential articles read aloud from the latest issue of The Economist. This week, the dream and danger of decentralised finance, how America is substantially reducing child poverty (10:02) and a defence of, like, “like” (18:57)
President Nayib Bukele thinks obliging businesses to take the cryptocurrency will help with remittances, inclusion and foreign investment. So far, few are convinced.
From after-school tutoring to endless extracurricular activities, education is an increasingly cut-throat affair; we examine the costs of these academic arms races. And Sally Rooney’s new novel and the question of what makes great contemporary fiction.
The cryptocurrency market was worth more than $1.6 trillion by the end of the July 2021. And bitcoin controls more than 47 percent of that market, according to Tradingview.com, down from more than 70 percent at the start of 2021. Altcoins, or alternatives to bitcoin, have surged in number and value since 2018. Crypto networks with advanced technologies such as Ethereum, Polygon and Uniswap have captured more and more of the crypto market. And there’s also stablecoins, utility coins and meme currencies like Dogecoin. Here’s how altcoins work, and why they’re becoming a larger and larger force in the crypto market. CHAPTERS: 00:00 — Introduction 01:37 — What are altcoins? 04:07 — Who are the top players? 06:36 — What’s next?
Ransomware attacks are increasing in frequency, victim losses are skyrocketing, and hackers are shifting their targets. WSJ’s Dustin Volz explains why these attacks are on the rise and what the U.S. can do to fight them. Photo illustration: Laura Kammermann
Joe Biden and Vladimir Putin have much to hammer out today—but don’t expect it to be genial. We examine what is on the table, and how each president will be judged.
Five stories to know for June 14, 2021:
1. Following the G7 summit in England, Joe Biden attends a NATO summit in Brussels. The U.S. president will rally Western allies to support a U.S. strategy to contain China’s military rise as well as showing unity in the face of Russian aggression.
2. One of 14 people hurt in a mass shooting in Austin, Texas, died according to media reports. Two men opened fire at each other in a busy entertainment district. Police arrested one suspect and are searching for another.
3. Benjamin Netanyahu’s record run in office ended on Sunday with Israel’s parliament approving, by a razor-thin majority of 60-59, a new administration led by Naftali Bennett, a nationalist whose views mirror Netanyahu’s on many issues. In Tel Aviv, thousands turned out to welcome the result, after four inconclusive elections in two years.
4. The United States is looking into reports of a leak at a Chinese nuclear power plant, after warnings of an “imminent radiological threat” by a French company that helps operate it, CNN reported on Monday.
5. Bitcoin climbed just shy of $40,000 on Monday, after yet another weekend of price swings following tweets from Tesla boss Elon Musk, who fended off criticism over his market influence and said Tesla sold bitcoin but may resume transactions using it.
Bitcoin and other cryptocurrencies set out to upend the financial order and replace conventional money. Bitcoin has certainly disrupted the global financial system, but can it ever live up to the hype? Read our latest report on cryptocurrency: https://econ.st/3wnYfRr
A.M. Edition for May 13. WSJ’s Felicia Schwartz discusses what is behind the fighting unfolding in Israel. The Colonial Pipeline restarts operations after a cyberattack.
WSJ’s Caitlin Ostroff has more on Tesla’s decision to suspend bitcoin payments. Marc Stewart hosts.