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Elizabeth Holmes, the founder of Theranos, has been proven guilty of fraud by a US jury

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Elizabeth Holmes, the founder of Theranos, has been proven guilty of fraud by a US jury

Elizabeth Holmes, the founder of Theranos, has been proven guilty of fraud by a US jury

A US jury convicted Theranos founder Elizabeth Holmes guilty of four charges of conspiracy to deceive investors in the blood testing business on Monday.

Holmes pleaded guilty to scamming three other investors and conspired to do so. In addition to the conspiracy allegation, she was acquitted of three charges of cheating Theranos customers. The jury deadlocked on three counts involving individual investors.

Holmes, in a grey suit jacket, remained calm following the judgement. No sentencing date was scheduled.

Prosecutors say Holmes, 37, defrauded private investors between 2010 and 2015 by claiming Theranos’ tiny machines could do several tests with just a few drops of blood. If convicted, she may face up to 80 years in jail from US District Judge Edward Davila.

Holmes was also accused of lying to patients about the tests’ accuracy but acquitted of it. Holmes may appeal. The jury took seven days to decide.

With Theranos, Holmes became a Silicon Valley celebrity. Forbes assessed her value at $4.5 billion in 2015. After meeting the founder, who wore a Steve Jobs-inspired black turtleneck, wealthy private investors like Rupert Murdoch invested millions in the firm.

Theranos’ unsuccessful attempt to revolutionise lab testing has been uncovered. Prosecutors claim the business covertly used Siemens devices to do patients’ tests. Theranos failed after the Wall Street Journal suggested its devices were flawed and inaccurate.

In 2018, Holmes and Theranos’ former COO Ramesh “Sunny” Balwani were charged. Fraud and conspiracy charges were dismissed. Balwani has pled not guilty and will be tried later.

During the September trial in San Jose, California, jurors heard from former Theranos workers who left the firm due to technological issues. Investors said Holmes made false statements about Theranos, such its devices being utilised by the US military. Undeterred by Theranos’ flaws, former patients spoke before jurors.

They claim that if Holmes had been honest with investors and patients, the venture would have gotten finance and income. “She chose deception over failure. “She chose to be dishonest,” said Assistant US Attorney Jeff Schenk. It was a criminal choice.

Holmes stated she never intended to deceive anybody and that Theranos’ lab directors were in control of test quality. Mr. Downey said the evidence showed Holmes was not driven by a cash shortage at Theranos, but rather by “building a technology that would change the world.”

“You know that crooks cash out at the first sign of trouble,” Downey remarked. “She went down with that ship when it went down.”

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Litecoin prices plummet by 10% in a bearish market

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Litecoin prices plummet by 10% in a bearish market

Litecoin prices plummet by 10% in a bearish market

By 22:16 (03:16 GMT) on Friday, Litecoin’s Index price was $124.600, down 10.04 percent from its previous day’s close. Since December 4, 2021, it was the greatest one-day percentage decline.

Litecoin’s market cap dropped to $8.741 billion, or around 0.47 percent of the overall cryptocurrency market cap, as a result of the decline. Litecoin had a market capitalization of $25.609 billion at its peak.

In the preceding twenty-four hours, the price of Litecoin fluctuated between $124,000 and $131.000.

Litecoin’s value has decreased by 9.35 percent in the last seven days. As of the time of this writing, Litecoin’s 24-hour trading volume was $801.998M, or 1.19 percent of all cryptocurrency trading. During the last seven days, it has moved between $124.0000 and $153.5000.

Litecoin’s current price is 70.33 percent lower than its all-time high of $420.00 reached on December 12, 2017.

Bitcoin at $39,499.5, a loss of 5.94 percent on the day.

Ethereum was trading at $2,861.87, a loss of 8.36 percent.

Ethereum had a market capitalization of $346.483 billion, which was 18.58 percent of the overall cryptocurrency market value at the time of this writing, while Bitcoin had a value of $754.596 billion.

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MAYA ANGELOU FIRST BLACK WOMAN ON QUARTER

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MAYA ANGELOU FIRST BLACK WOMAN ON QUARTER

MAYA ANGELOU FIRST BLACK WOMAN ON QUARTER

The US Mint’s Maya Angelou quarters are officially available.

The U.S. Mint revealed last year that Dr. Maya Angelou will be the first woman to appear on an American Women Quarter Program. The proposal was introduced by Senators Deb Fischer and Catherine Cortez Masto in 2020. The US Mint has already began releasing the first quarters honouring the legendary poet Maya Angelou.

“These past 100 years of suffrage would not have been possible without the work of so many courageous women, whose efforts paved the way for many more to make crucial contributions to the history of the United States,” Fischer and Cortez Masto earlier told reporters.

The quarter depicts Angelou in front of a soaring bird and a rising sun, as seen in her 1969 autobiography, “I Know Why the Caged Bird Sings.”

Over the next four years, the initiative will produce 20 quarters honouring influential women in American history. While George Washington’s visage will stay on the coin’s head side, the tail side will feature notable women.

Senator Cortez Masto thinks Angelou is the best candidate for the first coin.

“This coin will ensure generations of Americans learn about Maya Angelou’s books and poetry,” she stated in a statement.

On the coin will be Sally Ride, the first female astronaut, Wilma Mankiller, the first female main chief of the Cherokee Nation, Nina Otero-Warren, a prominent figure in the New Mexico suffrage campaign, and Anna May Wong, the first Chinese American Hollywood celebrity.

“Each time we redesign our currency, we have the chance to say something about our country,” said Janet Yellen, the first female Treasury Secretary.

I’m happy that these coins honour some of America’s most extraordinary women, including Maya Angelou.

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No Credit Vs. Bad Credit: What’s The Difference?

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Photo by Vlada Karpovich from Pexels

No credit and bad credit both sound similar enough. Many people get confused and use them interchangeably. However, the two terms are not the same. Still, having no credit or poor credit can make it hard to qualify for a loan.

Lenders may see you as a risky borrower, offering unfavorable terms and rates. Fortunately, both situations are fixable and redeemable. You can indeed bounce back from having no credit or bad credit.

But it’s crucial to know the difference between these two situations because the proper way to build your credit depends on whether you have bad credit or no credit history. 

What Does It Mean to Have Bad Credit?

Bad credit can stand between you and the loan you want. It can occur when you have derogatory marks in your credit report, including bankruptcy, late payments, charge-offs, and more. You may find it hard to get approved for a loan at a competitive interest rate, though bad credit loan options are available today. 

How long it takes to bounce back from bad credit relies upon the marks on your credit report. In general, accounts sent to collection agencies, bankruptcy, and late payments stay on your credit report for up to seven years. But the impact of these marks on your score decreases in the long run. 

What Does It Mean to Have No Credit?

If you have no credit, you don’t have a credit history. It could be because you’ve never taken out a loan or a credit card. A lack of credit history means you won’t be able to meet the minimum requirements for a credit score. And without it, you may find it harder to get approved for a loan or credit card.

While this is a typical problem for young people, it also affects other individuals, such as new immigrants. When you don’t have credit, borrowing money is difficult because creditors can’t predict how likely you will pay bills on time when your credit history isn’t established.

How to Rebuild A Poor Credit Score

A poor credit score can be a hurdle while getting access to loans, mortgages, and other forms of financing. If you’re looking to rebuild your credit score, below are a few tips that can help:

1. Make sure you’re paying your bills promptly because it’s the most important thing you can do to improve your credit score.

2. Try to keep your credit utilization ratio low. It means using less than 30% of your available credit at any given time.

3. Don’t apply for too many loans or credit cards at once because it can negatively impact your credit score.

4. Monitor your credit report now and then. Make sure to dispute any errors you find.

5. Get a secured credit card. It requires a cash deposit, which serves as collateral if you default on your payments.

Rebuilding your credit score takes time and effort, but following these tips will help you on your way. By following these tips and strategies, you can rebuild a poor credit score over time!

How to Build Credit from Scratch

Knowing where to start if you’re building your credit from scratch can be challenging. Here are a few tips to help you get started:

  • Get a credit card. One of the best ways to start building your credit is by getting a credit card. Make sure you read the terms and conditions carefully before applying and be sure only to use the card for emergencies.
  • Pay your bills on time. Paying your bills on time is one of the best ways to build your credit. If you can’t pay your bills in full, try to make the minimum payment, at least.
  • Keep your credit utilization low. Another critical factor of credit scores is credit utilization – the percentage of your available credit that you use. Try to keep it below 30% at all times and under 15% if possible.

Building credit can be a slow process, but following these tips will help you get started, and soon you’ll be on your way to good credit history in no time.

Bottom Line

When you’re working to establish or rebuild your credit, it’s easy to become frustrated. You might feel like you’re doing everything right, but your credit score still isn’t budging. 

But don’t give up! With a bit of patience and perseverance, you can boost your score, allowing you to get access to the funding you need in the future. As long as you keep practicing good, positive credit habits, you can start to reap the perks of your hard work little by little.

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