Congress

The Looming Threat of Systemic Bank Runs: What Congress's Stablecoin Bills Mean for the Financial Sector

6 days ago

In recent discussions within Congress, the increasing risks associated with stablecoins have come to the forefront as lawmakers consider a series of bills aimed at regulating these digital assets. These developments coincide with a broader apprehension regarding a potential systemic bank run, which could emerge if stablecoins do not have their risks effectively mitigated.

Federal Job Cuts Raise Alarms Over National Security, Ex-Officials Warn

25 days ago

Recent announcements regarding federal job cuts have sparked significant concerns among national security experts and former officials. The alarming trend threatens the United States’ capabilities in safeguarding its interests both domestically and abroad, they argue. As these job reductions loom, it appears that essential functions tied to national safety may be compromised.

Tencent's Stake in Skydance and Paramount Deal Under Congressional Microscope

3 months ago

In a significant turn of events in the realm of media investments, Tencent Holdings Ltd.'s financial connection to the Hollywood studio Skydance Media is drawing heightened scrutiny from U.S. lawmakers. This uneasy attention arises against a backdrop of growing federal concerns regarding foreign investments in crucial industries, particularly those that could potentially influence national security and cultural narratives.

Major Security Breach: Hackers Capture Emails Between Library of Congress and Congressional Offices

4 months ago

In a shocking turn of events, recent reports have unveiled a significant cybersecurity breach involving high-stakes communications between the Library of Congress and various congressional offices. The breach has raised alarms about the vulnerability of sensitive government information and the integrity of communications among U.S. lawmakers.

Amazon's Growing Ties with TikTok Under Congressional Scrutiny

5 months ago

In a significant turn of events, Amazon has found itself under the magnifying glass of Congress concerning its expanding relationship with the popular social media platform, TikTok. Lawmakers are expressing increasing concern over the implications of this partnership, particularly in terms of data privacy, competition, and potential national security issues.

CrowdStrike Executive Issues Apology to Congress Over Sweeping Outage

6 months ago

On September 24, 2024, in a high-stakes Congressional hearing, CrowdStrike's Chief Executive George Kurtz apologized for having allowed millions of users to be made vulnerable from its recent large-scale service outage. This cybersecurity firm provides endpoint security, threat intelligence, and cyber-attack response services and is under severe backlash after the incident occurred.