Crypto Crash Widens a Divide: ‘Those With Money Will End Up Being Fine’ (New York Times)

New York Times: Crypto Crash Widens a Divide: ‘Those With Money Will End Up Being Fine’. “Enthusiasts promote the digital coins — which are exchanged using networks of computers that verify transactions, rather than through a centralized entity like a bank — as a means for people of all backgrounds to achieve transformational wealth outside the traditional finance system. But for all those supposedly egalitarian principles, crypto’s collapse has revealed a yawning divide: As employees of crypto companies lose their jobs and ordinary investors suffer huge losses, top executives have emerged relatively unscathed.”

International Consortium of Investigative Journalists: Sign up for a guided email tour of the Pandora Papers

International Consortium of Investigative Journalists: Sign up for a guided email tour of the Pandora Papers. “The Pandora Papers also explore how this shadow economy takes a global toll beyond lost tax revenue, harming everyday people and the public interest in often unexpected ways. To help readers navigate the vast scope of this investigation, this six-part guided tour will walk you through the most explosive stories and break down key findings, email-by-email over the next two weeks, right in your inbox.”

Bloomberg: Social-Media Scandal Costs Top Chinese Scientist $2 Billion

Bloomberg Quint: Social-Media Scandal Costs Top Chinese Scientist $2 Billion. ” Wu Yiling is one of China’s highest ranked scientists. With a fortune that neared $6 billion, he was also part of the world’s 500 richest people. That was until last week, when the son of another Chinese billionaire sparked debate online with a post doubting the efficacy of Wu’s drug used to treat Covid-19. The herbal remedy, Lianhua Qingwen, is one of three traditional treatments the central government has recommended and was sent to households in Shanghai and Hong Kong during the latest omicron wave.”

Daily Beast: Twitter Founder Jack Dorsey Unleashes Ahead of Board Exit

Daily Beast: Twitter Founder Jack Dorsey Unleashes Ahead of Board Exit. “He’s added a new Twitter bio—’romantic moron, 1/8th hippie’—trolled fellow billionaire Marc Benioff, and assailed the media for trying ‘to create conflict.’ As he readies to leave the company’s board next month, Twitter cofounder Jack Dorsey is getting loose and ditching the filtered corporate-speak.”

OCCRP: Russian Asset Tracker

OCCRP: Russian Asset Tracker. “In the wake of Russia’s brutal assault on Ukraine, governments around the world have imposed sanctions on many of Putin’s enablers. But they have learned to keep their wealth obscured, hiring an army of lawyers to hide it in secretive bank accounts and corporate structures that reach far offshore. Figuring out who owns what, and how much of it, is a tall order even for experienced police investigators. That’s why we decided to follow the trail, tracking down as many of these assets as possible and compiling them in a database for the public to see and use.”

International Consortium of Investigative Journalists: List of oligarchs and Russian elites featured in ICIJ investigations

International Consortium of Investigative Journalists: List of oligarchs and Russian elites featured in ICIJ investigations. “Russian oligarchs have long been a prominent feature of ICIJ’s reporting on tax havens and financial secrecy, including 2013’s Secrecy for Sale investigation, the Panama Papers investigation of 2016, the Paradise Papers in 2017 and last year’s Pandora Papers, that revealed vast swathes of offshore wealth linked to powerful figures close to President Vladimir Putin. Today, we publish an index of prominent Russians who have featured in our reporting across our offshore investigations.”

Reuters: Think tank calls for EU database to help trace oligarchs’ assets

Reuters: Think tank calls for EU database to help trace oligarchs’ assets. “The European Union should create an asset database to help to track down the owners of assets held by shell companies and make EU sanctions against Russian oligarchs more effective, a think tank said on Wednesday. The 27-nation EU has imposed restrictions on 877 individuals, including wealthy Russian oligarchs and other prominent business people, over Russia’s aggression against Ukraine.”

International Consortium of Investigative Journalists: ICIJ releases the Russia Archive, an inside look at how elites close to Putin hide wealth offshore

International Consortium of Investigative Journalists: ICIJ releases the Russia Archive, an inside look at how elites close to Putin hide wealth offshore . “Using tens of millions of leaked files, ICIJ reveals the hidden wealth and financial secrets of Russia’s most powerful people, including oligarchs, political leaders, and proxies close to Vladimir Putin.”

Reuters: Google U.S. lobbying jumps 27% as lawmakers aim to rein in Big Tech

Reuters: Google U.S. lobbying jumps 27% as lawmakers aim to rein in Big Tech. “Alphabet Inc’s Google reported 27% higher U.S. lobbying expenditures for 2021 compared to 2020, spending $9.6 million for the year, according to the Senate lobbying disclosure database. That’s far below the more than $20 million it spent in 2018 but more than the $7.53 million that went to lobbying in 2020.”

Private jet firms are soaring in popularity after big COVID-19 bailouts. Were they a ‘handout to the wealthy’? (ABC News)

ABC News: Private jet firms are soaring in popularity after big COVID-19 bailouts. Were they a ‘handout to the wealthy’?. “Lingering health concerns about commercial air travel during the COVID-19 pandemic have fueled a boom in private jet travel, a trend that has led to fresh scrutiny of the industry’s taxpayer bailout — which some critics are calling a ‘handout to the wealthy.’”

Washington Post: At Miami’s Art Basel, a canvas of global inequality in the pandemic age

Washington Post: At Miami’s Art Basel, a canvas of global inequality in the pandemic age. “In the United States, the net wealth of the top 1 percent richest households rose by nearly 35 percentage points during the pandemic, compared with a far more modest 5-percentage-point gain for households in the bottom 50 percent, according to a World Economic Forum analysis published this month. Globally, poverty rates have climbed, especially among younger, lower-skilled and female workers, while the more moneyed have enjoyed roaring stock markets and surging property values.”