Pippa Stevens of CNBC.com brings you today’s top business news headlines. On today’s show, CNBC.com’s MacKenzie Sigalos explains how some Afghan citizens are turning to crypto to protect their money amid the country’s political turmoil. What’s more, Apple stocks are skyrocketing during Tim Cook’s decade as CEO.
Farhan Hotak is not a typical 22-year-old Afghan.
Over the past week, he has helped his family of ten flee Zabul province in southern Afghanistan and travel 97 miles to a town on the Pakistani border. But unlike others who chose to leave the country, once his loved ones were in good hands Hotak then turned around and returned so he could protect his family home – and blog with his thousands of Instagram followers. on developments on the ground in Afghanistan. .
He is also watching his crypto portfolio on Binance very closely, as the local currency is reaching record highs and nationwide bank closures make it nearly impossible to withdraw money.
“In Afghanistan, we don’t have platforms like PayPal, Venmo or Zelle, so I have to depend on other things,” Hotak said.
Afghanistan still operates primarily as a cash economy, so the money in Hotak’s crypto wallet won’t help him put dinner on his table tonight, but it does give him the peace of mind that part of its wealth is protected from
Ten years ago, Tim Cook was appointed CEO of Apple.
He had a difficult task. His predecessor Steve Jobs founded the company and returned from exile to bring Apple back from the brink of death and launch the products that have defined Apple as a modern computing juggernaut: the iMac, the iPod, the iPhone and the ‘iPad.
But Cook says Jobs told him to be his own boss and never ask “what would Steve do?” He took that advice, building a rigorous operational juggernaut and making Apple the most valuable publicly traded company in the world.
Under Cook, Apple consolidated the iPhone business and bolstered it with a constellation of new products that attract new customers and drive current customers to Apple’s world. Since 2011, the company has launched several new products, including the Apple Watch and AirPods.
Clip art of a rock that just sold for 400 ethers, or about $ 1.3 million, late Monday afternoon. The transaction marks the last sale of EtherRock, a collectible crypto brand that has been around since 2017, making it one of the oldest non-fungible (NFT) tokens in the block.
EtherRock is, as the name suggests, a JPEG of a cartoon rock, built and sold on the ethereum blockchain. There are only 100, and this rarity is part of what increases its value.
So what are these rock photos for? According to the EtherRock website, “These virtual rocks serve NO PURPOSE beyond being able to be brought in and sold, and gives you a strong sense of pride in owning one of the only 100 rocks in the game 🙂 “