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Binance is finding 300,000 fake addresses every week, mainly on Ethereum and Bitcoin networks. AdvertisementAs crypto thieves find more creative ways to trick people, so do those trying to crack down on them. Binance, a major crypto exchange, told Business Insider that it has developed an algorithm to spot fake crypto addresses — used in so-called "address poisoning" scams. According to Binance, the company's algorithm is detecting some 300,000 fake addresses every week, mostly on Ethereum and Bitcoin networks. The FBI warns that services offering to return money to the victims of crypto scams might actually also be scams themselves.

Persons: —, it's, Binance Organizations: Service, Services, FBI

☆ A 50-year-old retiree says his 'biggest mistake' was saving too much in his 401(k). He explains what he would do differently and his work-around for being illiquid when he retired.
▼ + stars: | 2024-05-19 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewIn his early 20s, one of Eric Cooper's first bosses gave him some sound money advice: Contribute as much as you can to your 401(k). AdvertisementCooper maxed out his 401(k) for more than two decades and accumulated enough to retire in his late 40s. While there are a lot of restrictions, it made sense for Cooper, who was fully committed to early retirement. At some point, we're going to have to start spending that money, and the IRS is going to start taxing it," he said.

Persons: —, Eric Cooper's, maxed, Cooper, maxing, I'm, Cooper maxed, Eric Cooper Organizations: Service, Business, Independence, IRS Locations: Louisville, I'm

☆ The lunch rush is dead as Americans live for the weekend
▼ + stars: | 2024-05-19 | by ( J.J. Mccorvey | Haley Messenger | ) www.cnbc.com time to read: +6 min

These signs point to a new normal for Americans' post-pandemic leisure spending, which has stayed resilient despite the higher costs of going out. In 2023, 1.88% of the food and drink transactions Square processed took place between 11 a.m. and noon on Saturdays, up from 1.60% in 2019. Nowhere was the shift toward evening and weekend spending starker than in Boston, one of 23 major cities Square analyzed. There, a 10.1% decline in weekday lunch transactions was more than offset by 10.3% and 1.6% increases in weekend and happy hour transactions, respectively. "I don't really prioritize drinking during the weekdays," Louie said, and his weekend leisure spending "is quite inconsistent."

Persons: That's, Ara Kharazian, Brunch, Kharazian, Sara Senatore, AJ Kurban, Kurban, it's, Soojin Lee, Cornell University's Nolan, Young, They're, Senatore, I'm, Nicholas Louie, Louie Organizations: University of Toronto, ARA, Bank of America, Cornell University's, Cornell University's Nolan School of Hotel Administration, Covid Locations: U.S, workdays, Boston, Brooklyn, Manhattan, York

☆ The High-Class Problem That Comes With Home Equity
▼ + stars: | 2024-05-19 | by ( Ron Lieber | ) www.nytimes.com time to read: 1 min

A lot of money is tied up in people’s homes. Those who need to tap it most, however, may have the hardest time doing so. That money — plus appreciation in the home’s value — now equals $31.8 trillion for all households, according to the Federal Reserve, more than three times what it was in 2012. As a result, some homeowners end up with a lot of home equity but low retirement savings. Home equity?

Organizations: Federal Reserve

☆ Opinion | Invading Rafah Doesn’t Help Israel
▼ + stars: | 2024-05-18 | by ( Nicholas Kristof | ) www.nytimes.com time to read: +1 min

Now that President Biden is pressuring Israel to back away from an all-out invasion of the southern Gaza city of Rafah, some supporters of Israel feel betrayed. They ask: How can Israel protect itself and ensure its security if it can’t eliminate Hamas leaders hiding in tunnels under Rafah? Why sacrifice thousands of lives, Palestinian and Israeli alike, but stop short of a definitive end to the war that would lay the groundwork for rebuilding Gaza? They raise legitimate questions, but I think they misunderstand Biden’s motivations as purely humanitarian and intended simply to avert a blood bath in Rafah. It may be in Netanyahu’s interest to flatten Rafah, because anything that prolongs the war keeps him in office, but it’s not in Israel’s interest.

Persons: Biden, Israel, Benjamin Netanyahu, it’s Locations: Israel, Gaza, Rafah

☆ I'm a US Army jumpmaster in the frozen Arctic, and the coldest jump I've ever made was -50 degrees Fahrenheit
▼ + stars: | 2024-05-18 | by ( Chris Panella | ) www.businessinsider.com time to read: +9 min

Micah Symmonds, a US Army jumpmaster in the 11th Airborne Division based in Alaska. There's a reason why so many people choose to be in an airborne division for their entire career. Especially being in the 11th Airborne Division, we have a very unique geographical position, so we're able to reach a lot of places in the Indo-Pacific region. And then becoming a jumpmaster, you're a leader in that organization, you really need to show the want and drive. On each jump, you're generally exiting from both parachute doors of an aircraft, and each door will have a jumpmaster.

Persons: Micah Symmonds, It's, I've, Keon Horton, Natalie Doan, They've, Molly Treece, there's, it's Organizations: Service, US Army, 11th Airborne Division, Business, 11th Airborne, U.S . Army, 3rd Battalion, 509th Parachute Infantry Regiment, 2nd Infantry Brigade Combat Team, Pacific Multinational Readiness, Donnelly Training, U.S, Army, U.S . Army 2nd Infantry Brigade Combat Team, 36th Airlift Squadron, Yokota Air Base, . Air Force, Boeing, Delta Junction Locations: Alaska, Guam, Australia, Thailand, Philippines, Kuwait, jumpmaster, balaclava, Japan, Delta, AK

☆ Market sets record — Breaking down whether the bulls are in the clear or a peak is imminent
▼ + stars: | 2024-05-18 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

You can't argue with a market making new record highs, though it's fair game to interrogate the tape about its assumptions and intentions. With the Dow Jones Industrial Average closing above 40,000 for the first time Friday and the S & P 500 settling above 5,300 after hitting a fresh all-time high Wednesday, the advice of history suggests not overthinking it. Keith Lerner, strategist at Truist, marks up a long-term S & P 500 chart to show times when it was at an all-time high. Brian Belski, strategist at BMO, last week lifted his year-end S & P 500 target to a Street-high 5,600 . And, quite remarkably, the stock market low of October 2022 occurred at an S & P 500 forward P/E above 15, with unemployment below 4% and in mid-economic expansion.

Persons: Stocks, Keith Lerner, Ned Davis, Brian Belski, Leuthold, Doug Ramsey Organizations: Treasury, Dow Jones, Dow, Ned Davis Research, Investment, Bank, Federal, BMO, Citi U.S, Vegas, Fed, Leuthold Locations: U.S

☆ Robots and AI are being used to help women get pregnant. Is this the future of IVF?
▼ + stars: | 2024-05-18 | by ( Blake Dodge | ) www.businessinsider.com time to read: +21 min

There, a startup called Conceivable Life Sciences is automating the IVF lab from start to finish. Conceivable Life SciencesEleven women so far have become pregnant with help from one or more of these Conceivable robots. Conceivable Life Sciences"No baby, no fee"Today, IVF demand is surging, despite the treatment being slow, uncertain, and expensive. Conceivable's future IVF lab. Conceivable Life SciencesFrom prayer to AIHalf a continent away, a physician was growing frustrated by the constraints of his job.

Persons: —, robotically, embryologist Jacques Cohen, Cohen, Joshua Abram, Conceivable's, Abram, Lora Shahine, Emma wasn't, Emma, Alan Murray, Murray, — embryologists, that's, Alejandro Chávez, Badiola, REI, didn't, Conceivable's cofounders, Dr, REIs, What's, Langham, Conceivable's cofounders tinker, Tesla, Brian Bixon, Gerardo Mendizabal, Ruiz, Bixon, Carla Patricia Barragan Álvarez, OBGYNs, aren't, Eduardo Hariton, Hariton Organizations: Service, Business, Sciences, BI, New York City, pipettes, Life Sciences, San, Langham Hotel, Quest Diagnostics Locations: Guadalajara, Mexico, New York, Seattle, pipettes, Petri, San Francisco, London, Abram, Mexico City

☆ Financial companies are getting creative about annuities
▼ + stars: | 2024-05-18 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

It’s fueling a huge rollout of new retirement products — but they’re not all golden tickets. “We didn’t really save much of anything.”However, jobs offering pension plans are harder to come by compared to previous decades. Over the past 40 years, defined contribution plans, also known as 401(k) plans, have taken their place. Americans currently hold over $7 trillion in 401(k) plans, according to data from the Investment Company Institute, a trade association. These types of retirement plans put the job of saving and investing on the employee.

Persons: CNN —, Jennifer Messina, “ I’m, ” Messina, ” Teresa Ghilarducci, ” Eric Stevenson, Roth, Ghilarducci, you’re, ”, There’s, she’s, we’ll, Messina Organizations: CNN, Alliance for Lifetime, Investment Company Institute, Social Security, Social Security Administration, Federal, The New School for Social Research, BlackRock, Nationwide, Messina Locations: Nutley , New Jersey, BlackRock, New Jersey, South Carolina, North Dakota

☆ World’s biggest waste-to-energy facility will power more than 100,000 homes
▼ + stars: | 2024-05-17 | by ( Ana De Oliva | ) edition.cnn.com time to read: +4 min

Much of it ends up at a plant operated by the Warsan Waste Management Company. “Around 45% percent of Dubai’s total waste comes to this facility,” says Tim Clarke, the company’s CEO. Operational since March of this year, the Warsan plant will use 2 million metric tons of trash annually to produce electricity, enough to power approximately 135,000 homes, according to the company. However, since the plant produces power, replacing the burning of fossil fuels, Warsan Waste Management believes the overall result is positive. But some environmental groups, such as Zero Waste Europe, argue that burning waste to generate electricity discourages efforts to cut waste and initiatives to increase recycling.

Persons: ”, Tim Clarke, Clarke, “, Bryan Staley, Staley Organizations: Dubai CNN, CNN, Warsan Waste Management Company, “, United Nations Environment, Waste Management, Energy, Research, Education Foundation Locations: Dubai, Europe, Japan, China, UAE

☆ Ford begs suppliers to help stem EV losses: 'We will all win or lose together'
▼ + stars: | 2024-05-17 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Read previewFord is asking its suppliers to help them cut electric vehicle manufacturing costs, soliciting money-saving ideas in a new memo sent to suppliers this week. "We have all invested heavily in the success of the EV business, and we will all win or lose together." These shoppers are more practical, frugal, and more likely to be considering electric, hybrid, and gas-powered options at the same time. In these matchups, hybrids have been winning as of late, a phenomenon that Musk has said is detrimental to the electric vehicle market. Industry experts, however, say hybrids are a good bridge technology for future EV adopters.

Persons: —, Ford, Elon, Liz Door, Tesla Organizations: Service, Detroit Business, Business, Ford, Industry, Crosstown, GM Locations: Detroit, North America

☆ Many high schools are curbing the use of AI. These schools are leaning in
▼ + stars: | 2024-05-17 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +8 min

CNN —At Princeton High School, students are trying to combat the rapid decline of indigenous languages with some unlikely help: a furry, wide-eyed stuffed animal named Che’w. He’s a wildly intelligent generative AI robot that speaks Mam, a Mayan language spoken in the western highlands of Guatemala and Mexico and by a small population of the school’s students. At a time when some high schools are restricting the use of AI in the classroom, others, like Princeton High School, are leaning into it. Courtesy SamsungBeyond generative AISome high schools around the country are trying to teach students how to use other forms of artificial intelligence for a greater good. “It doesn’t lose patience or get sick of talking to them,” said Mark Eastburn, Princeton High School’s science, research and engineering teacher.

Persons: Che’w, Joy Barnes, Johnson, ”, ChatGPT, Ed ”, Noel Candelaria, ” Candelaria, Tylo Chacon, Chacon, “ We’ve, It’s, —, Mark Eastburn, “ It’s, ’, Eastburn, they’re Organizations: CNN —, Princeton High School, UNESCO, PHS, ”, STEM School Highlands, Samsung, Los Angeles Unified School District, Seattle Public Schools, National Education Association, CNN, NEA, Stuyvesant High School, University of Colorado, Princeton Locations: Guatemala, Mexico, Colorado, New York City, Washington ,, Boulder, Mam

☆ I spent 2 nights at a 2-story, 100-square-foot tiny home in Germany that was smaller than any I've seen in the US. Take a look inside.
▼ + stars: | 2024-05-17 | by ( Joey Hadden | ) www.businessinsider.com time to read: +1 min

The 106-square-foot home made smarter use of space than any tiny home I've seen in the US. It had a unique cylindrical shape and was less than half the size of the US tiny homes I've booked. So, I'm intrigued by tiny homes because they tend to make good use of a small space. I've stayed in several tiny Airbnbs around the world, from Florida and Maryland to Canada and Switzerland. This story is available exclusively to Business Insider subscribers.

Persons: —, I've, I'm Organizations: Service, Business Locations: Germany, Florida, Maryland, Canada, Switzerland

☆ Consumers have given up on long-term saving goals, says University of Michigan's Joanne Hsu
▼ + stars: | 2024-05-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumers have given up on long-term saving goals, says University of Michigan's Joanne HsuJoanne Hsu, University of Michigan director of the surveys of consumers, joins 'Power Lunch' to discuss the psychology behind consumer spending.

Persons: Michigan's Joanne Hsu Joanne Hsu Organizations: Consumers, Michigan's, University of Michigan

☆ Getting Started With Savings
▼ + stars: | 2024-05-17 | by ( Tara Siegel Bernard | ) www.nytimes.com time to read: +1 min

Financial Boot Camp for 20-Somethings: Day 5 of 5It’s time to get your money in order. When you’re in your 20s, retirement seems so abstract, it might as well be thousands of years away. Getting started early for retirement is smart for the same reasons you may want to put it off: Time is on your side. If you set aside what you can now, the magic of compounding numbers — when you begin to earn interest on interest — can do more of the heavy lifting over time. In other words, saving early may result in having to save less over the long haul, which will take some pressure off as you’re juggling other demands that inevitably arise.

Social Security trust fund reserves are projected to be depleted by 2035. The 2023 Social Security and Medicare Trustees annual report projects that the program's trust fund reserves will be depleted by 2035. "It's not that Social Security will disappear completely, but rather, the surplus bucket we rely on is at risk." The average Social Security check for a retired worker is only $1,907 per month, according to the Social Security Administration. Without sufficient action, reduced Social Security benefits might not be able to keep pace with rising costs.

Persons: Emily Millsap, you've, Roth, HSAs Organizations: Social Security, Avantax Wealth Management, Social, Social Security Administration, Workers

☆ My family had to stay at 3 different resorts during our 8-day trip to Disney World, and it wasn't worth all the effort
▼ + stars: | 2024-05-16 | by ( Jill Robbins | ) www.businessinsider.com time to read: +6 min

When my family of four went to Disney World for the holidays one year, everything was so booked we had to stay in three different resorts. We've done split stays at Disney World in the past, but this was the first time we stayed at three different hotels on a single visit. Pop Century wasn't my favorite resort, but it definitely has its prosIt's unfair to compare a value resort like Pop Century to villas at deluxe resorts, but Pop Century was my least favorite of the three. Jill RobbinsThis wasn't my first time staying at Animal Kingdom Lodge or Wilderness Lodge, and I'd happily stay in either again. Moving from one resort to another at Disney World was pretty seamlessIt's pretty easy to move between resorts at Disney World.

Persons: —, We've, Jill Robbins, Murphy, I'd, we've, I've Organizations: Service, Disney, Business, Animal, Disney Springs Locations: Animal, unpack

☆ An early retiree shares the advice he received in his early 20s that helped him retire at age 48 — and how he invested his money to build a seven-figure portfolio
▼ + stars: | 2024-05-16 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

It aligned with the life-changing money advice he received from a boss in his early 20s. The stock market: from tech stocks to low-cost index fundsCooper's investment strategy has evolved over the years. AdvertisementTo lower his risk, "I am in the process of transitioning my portfolio to mostly low-cost index funds, which are very popular among the FI community." "They're all paid off and bring in about $65,000 a year in rent," he said, adding that they played an important role in his early retirement. Advertisement"I think the easier route is to invest in low-cost index funds," he said, noting that the playbook is much simpler.

Persons: —, Eric Cooper, I'd, Cooper, Cooper's, Roth Organizations: Service, Business, Roth IRA, FI Locations: Louisville, Egypt

☆ Jobseekers and Recruiters Are Both Using AI in Hiring. It's Chaos.
▼ + stars: | 2024-05-16 | by ( Shubham Agarwal | ) www.businessinsider.com time to read: +11 min

They can now add AI recruiting systems to that pile. It turns hiring into a depersonalized process, it inundates hiring managers, and it reinforces weaknesses in the system it's designed to improve. AI is supposed to fix this mess, saving companies time and money by outsourcing even more of the hiring process to machine-learning algorithms. Platforms like LinkedIn and ZipRecruiter have started using generative AI to offer candidates personalized job recommendations and let recruiters generate listings in seconds. Several seasoned recruiters told me they hadn't incorporated AI into their workflow beyond auto-generating job descriptions and summarizing candidate calls.

Persons: Josh Holbrook, Holbrook, I've, Rik Mistry, Ian Siegel, —, ZipRecruiter, weren't, it's, Tatiana Becker, Becker, Pallavi Sinha, Sinha, Kerry McInerney, Danielle Caldwell, chatbot, Caldwell, Mclnerney, Peter Laughter, who's, Bonnie Dilber, Dilber, Aki Ito, Sandra Wachter, Wachter, David Francis Organizations: Business, Society for Human Resource Management, LinkedIn, Unilever, Google, BI, Microsoft, University of Cambridge, University of Sussex, Berkeley Haas Center for Equity, Gender, Leadership, Black, University of Oxford, IBM, Talent Tech Labs Locations: Alaska, HireVue, Humanly, Portland , Oregon, Zapier

Thedieck, now 31, is still in the military, and has gotten an awful lot of what he's wanted ever since. Darren Thedieck, age 31, joined the Air Force at age 18. Saving on a military salaryThedieck was interested in saving and investing long before he joined the Air Force. Right now, though, the plan is for that money to provide a financial "cushion" for the family, Thedieck says. Instead of full retirement after military life, both he and Naudia plan to take off in a new direction.

Persons: Darren Thedieck wasn't, he's, Thedieck, He's, Darren Thedieck, Andrea Ferro, Naudia, Denmark —, he'll, — Warren Buffett, Benjamin Graham, Darren, That's, They're Organizations: CNBC, U.S . Air Force, Air Force, titans, Social Security, Service Credit Union, Apple, Disney, Netflix, Spotify, FIRE Locations: Las Vegas, England, South Korea, Germany, Aviano, Italy, Venice, Denmark, United States

☆ 9 tricks for getting the best deals at Costco, from a former employee
▼ + stars: | 2024-05-16 | by ( Sophia Mitrokostas | ) www.businessinsider.com time to read: +1 min

Business Insider spoke to a former Costco employee to learn how to get the best deals at the store. She also said to check the Costco app for coupons and to split bulk items with friends and family. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThere are plenty of killer deals to find at Costco, but shopping smart is key to saving the most cash. Business Insider spoke to Tess Robison, former Costco employee, to figure out how to get the best deals at the members-only wholesale giant.

Persons: Robinson, —, Tess Robison Organizations: Costco, Service, Business

☆ 4 powerful mindset shifts that actually save you money, according to a financial therapist
▼ + stars: | 2024-05-16 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +5 min

While everyone's financial situation is different, there are mindset shifts that can help anyone save more, whether they're a cushy DINK or an ALICE living paycheck to paycheck. She said some people can try to "white-knuckle" their financial goals, believing that once they reach them, they won't have to worry about money again. AdvertisementClayman shared a few simple mindset shifts that have helped her clients when faced with different financial issues. Process your disappointmentsIf you feel overwhelmed by the idea of budgeting, Clayman said you should get to the root of why you're overwhelmed. You need a deeper reason to stick to your goals if saving money will require both working a lot and turning down some fun experiences.

Persons: —, DINK, ALICE, Amanda Clayman, isn't, Clayman, it's Organizations: Service, Business

I've been working with wealthy clients for nearly 15 years, and I've noticed a few common habits. I've been advising wealthy clients for nearly 15 years, and I'm often asked for the secret sauce, or the commonalities I see in my wealthiest financial-planning clients that make them successful. My most successful clients lean on us to help them separate those emotions and make sound financial decisions. My most successful clients value receiving comprehensive financial plans specific to their goals and situations. My most successful clients value receiving comprehensive financial plans specific to their goals and situations.

Persons: I've, —, I'm, that's, they've, doesn't Organizations: Service, Everest, Google, Jobs, Relief, Economic Security Locations: Policygenius

☆ The consumer slowdown is here and its flashing a recession warning for the economy
▼ + stars: | 2024-05-16 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Consumer spending is slowing, and it's a warning shot for the US economy as it navigates the approach to a soft or a hard landing. Meanwhile, March retail sales were revised downward, with spending rising 0.6% instead of the initially reported 0.7%. The retail sales number was sluggish with a capital 'S,'" economist David Rosenberg said in a note this week. A hard landing has been postponed partly because of the strength of consumer spending in 2023, he wrote previously. The New York Fed sees a 50% chance that the economy will tip into recession by April 2025.

Persons: David Rosenberg, Rosenberg, Primerica, Danielle DiMartino Booth, who's, Booth, Schwab, I've Organizations: Service, Business, Conference, New, Fed Locations: American, York

☆ Budget-minded homebuyers should look in these 23 cities where down payments are plummeting, even in an unaffordable housing market
▼ + stars: | 2024-05-16 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Affordability remains a headacheHome affordability has taken a huge hit since the pandemic as mortgage rates, property prices, and — by extension — down payments have surged. Mortgage rates have since more than doubled at over 7%, and houses cost over $70,000 more at $332,000. The 30-year fixed mortgage rate is now roughly triple the 2.7% rate it was at in early 2021. The savings rate in the late 2010s was around 6.5% of disposable income, and it spiked early in the pandemic due to a surge of government stimulus. 23 cities where down payments are down meaningfullyAlthough affordability is limited as mortgage rates, home prices, and down payments have risen, there are still dozens of cities where the cost of buying a house is headed lower.

Persons: —, Hannah Jones, Realtor.com, Freddie Mac, they'd, Jones Organizations: Service, Business Locations: Realtor.com

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