Finance

Money Math Is Tricky: Majority of Americans Fail Basic Financial Quiz

A recent large-scale study on financial literacy reveals that many American consumers struggle with basic concepts related to inflation and personal finance. Conducted by the FINRA Investor Education Foundation, a nonprofit focused on financial education, the study involved a seven-question quiz taken by 25,500 adults. The findings were telling: 30% of participants got a basic question about interest rates wrong, 40% failed to answer a question about inflation correctly, and a staggering 71% were unable to solve a question involving compound interest. These results highlight significant gaps in fundamental financial knowledge among U.S. adults.

TECH

Italy, U.S. Agree: Tech Taxes Must Not Discriminate

Italy and the United States issued a joint statement on Friday opposing "discriminatory" digital service taxes, signaling that Rome may be reconsidering a levy that has long strained ties with Washington. The announcement followed Italian Prime Minister Giorgia Meloni’s meetings with former President Donald Trump and his running mate JD Vance, where she received a notably warm reception—standing in contrast to Trump’s cooler interactions with other European leaders.

European digital taxes targeting major U.S. tech companies—such as Google, Meta, Apple, and Amazon—have been a persistent source of friction for American administrations, including Trump's. Italy currently imposes a 3% tax on digital revenues from large tech firms with global sales of at least €750 million, generating under €500 million annually for the Italian government.

In the joint statement, both countries emphasized the need for a fair and non-discriminatory tax environment to encourage investment from leading technology companies.

CRYPTO

New Kids' Show to Launch with Built-In Crypto Wallet This Fall

A new animated kids' series set to premiere this year is skipping the usual routes—no TV networks, no streaming platforms. Instead, the creators behind We Ghosted Media are taking a bold leap into web3, launching the show on a decentralized web platform powered by blockchain technology. And yes, it will come with a built-in crypto wallet.

We Ghosted Media, co-founded by Bob’s Burgers assistant director Chris Jammal and Peg + Cat producer Jaclynn Demas, is breaking away from traditional distribution methods in favor of a web3-based model. On Friday, the studio announced a partnership with Lamina1 to debut its upcoming animated series, Owen Nowhere.

Lamina1, founded in 2022 by Snow Crash author Neal Stephenson, is a Layer 1 blockchain platform designed to empower creators by giving them control over their content and the tools to monetize it directly. Stephenson—who coined the term “metaverse” in his 1992 novel—envisions an open, immersive virtual world where users can interact through lifelike 3D avatars, and Lamina1 is his blueprint to build it.