It’s Wednesday, June 1 and it’s a special day in the NFL due to a recent rule change that allows two players in the off-season to get cut from the team roster, which influences salary cap negotiations. Italy lifted COVID entry rules today, and Shanghai is reopening again following a two-month lockdown. Here’s what else should be on your radar this morning.
Crypto Counter-Lobby. A letter signed by 26 technology experts and academics asks lawmakers to counter lobbying efforts by the cryptocurrency industry on Capitol Hill. The crypto industry shelled out $9 million for lobbyists between 2018 and 2021, up from $2.2 million. The letter urges Congress to “resist pressure” and work on creating a “safe haven for these risky, flawed, and unproven digital financial instruments.” READ MORE
Big Paycheck Reality Check. Paycheck-to-paycheck is a way of life for 61% of people surveyed in April, up 9% from 2021. The data also show that a little more than one in three consumers earning $250,000 or more each year are also currently living paycheck to paycheck. In the “New Reality Check: The Paycheck-To-Paycheck Report,” a PYMNTS and LendingClub collaboration, the High Earners Edition examines the financial lifestyle of the growing share of high-income earners living life by the paycheck. READ MORE
Crypto Money Laundering. Ilya “Dutch” Lichtenstein, 34, and his wife, Heather Morgan, 32, both of New York, are accused of attempting to launder $4.5 billion in cryptocurrency connected to the 2016 hack of crypto exchange Bitfinex. They are reportedly negotiating a plea deal on charges of money laundering and conspiring to defraud the United States. READ MORE
ICYMI. Inflation is taking a bite out of Americans’ savings as well as retirement plans. Some 25% of respondents have put off retiring due to the increased cost of everyday goods, and 36% have reduced their savings. Prices are rising at the fastest pace since the 1980s. READ MORE
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More