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In this podcast, the hosts discuss the implications of the SEC's X account hack and the state of the US economy. They delve into the basics and significance of the inverted yield curve as a signal for a recession. They explore the delayed recession and the possibility of a soft landing. They also highlight Fujitsu's involvement in the UK Post Office scandal and the launch of a new podcast edition focused on US politics and the upcoming presidential election.
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Quick takeaways
- The recent hacking incident with the SEC's X account highlights the importance of enabling multi-factor authentication to enhance security in the cryptocurrency market.
- The inversion of the yield curve on government bonds is a cause for concern as it historically precedes recessions, suggesting that despite positive signs in the US economy, a recession may still be a possibility.
Deep dives
SEC's X Account Hack and Implications for Cryptocurrency
The Securities and Exchange Commission (SEC) recently disclosed that its X account was hacked, leading to confusion in the cryptocurrency market. The hacker gained control of the account by executing a SIM swap, transferring the phone number to another device without permission. The SEC also revealed that it had disabled multi-factor authentication prior to the attack. This incident highlights the importance of keeping multi-factor authentication enabled to enhance security.
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