Month: February 2020

Bitcoin Price Falls $1,400 in One Week — Is the Bear Market Back?

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This week the equity markets experienced their worst week in 12 years and as this meltdown took place the crypto market also took a hit.  Bitcoin (BTC) and the cryptocurrency market saw a significant selloff this week and this outcome is relatively reasonable given that people sell their assets out of fear of potential economic instability. Other safe-haven assets like gold and silver also saw a massive selloff on Friday.  Are the crypto markets going to find support in the coming weeks, or will we see a continued downtrend in…

The Dow Will Recover – But Not Before Trump Loses to Bernie Sanders

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Jeremy Siegel says that the stock market will recover from its recent crash, but only after a “one-year shock.” That recovery may not come soon enough to save Donald Trump’s reelection chances. The next time the Dow sets an all-time high, will the credit go to Bernie Sanders? As the stock market recoils from its worst crash since the financial crisis, Wharton School finance professor Jeremy Siegel has some good news and bad news for President Donald Trump. The Dow Jones Industrial Average (DJIA) will recover… but not until he…

New Trojans Targeting Major Crypto Exchanges Apps Discovered

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ThreatFabric, an Amsterdam-based cybersecurity firm specializing in threats to the financial industry, has identified the “Cerberus” Trojan that steals 2-Factor Authentication (2FA) codes generated by the Google Authenticator app for internet banking, email accounts, and cryptocurrency exchanges. US-based cryptocurrency exchange Coinbase is one of the crypto platforms listed in Cerberus’ exhaustive list of targets — which also includes major financial institutions around the world and social media apps.  The cybersecurity firm notes that it has not identified any advertisement on the dark beb for Cerberus’ updated features, leading it to…

New Malta Government Says It Still Wants to Run a ‘Blockchain Island’

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Last week, the financial watchdog of Malta came forward with an unexpected statement. Apparently, Binance, a leading cryptocurrency exchange that had been enjoying a close relationship with local authorities, is not authorized “to operate in the crypto currency sphere,” as the regulator’s press release stressed.  While the Malta Financial Services Authority has yet to license any cryptocurrency business — and not just Binance — under the country’s widely marketed cryptocurrency framework, the statement signifies a deterioration in relations between the cryptocurrency sector and Maltese officials, who have claimed to run…

YouTube Has a Vile Monkey Torture Community That Needs Nuking

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For years YouTube has hosted a bizarre and vile monkey torture channel. Using the handle “killbabymonkeys,” the channel creates playlists of videos with injured, abused, or dying monkeys in them. The channel’s subscribers have left horrifying comments on the videos YouTube has irked many creators that think the platform is too heavy-handed with censorship. But it hasn’t bothered to censor a monkey torture community that’s been active for at least three years. (Warning: the YouTube content at the link is disturbing.) The name of the channel is “killbabymonkeys.” It doesn’t…

Jack Dorsey Should Be Replaced as Twitter CEO, Investor Proposes

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Billionaire investor, Paul Singer, is pushing for the removal of Jack Dorsey as CEO of Twitter. According to a CNBC article dated Feb. 28, the Elliott Management founder and activist investor is concerned about Dorsey’s time being split between two $5 billion-plus companies, and his desire to move to Africa. Singer questions Dorsey’s focus The $40.2 billion hedge fund managed by Singer took a major stake in the social media giant recently and has already nominated four replacement directors to Twitter’s board according to reports. Dorsey has previously faced criticism…

Why Wall Streeters Party Hard When The Stock Market Crashes

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The stock market just experienced its fastest correction in 50 years. But that might not be so bad for the big wigs on Wall Street. An 18-year finance industry veteran explains how financials fire employees when markets crash. And they get sent off with plush severance packages, and paid garden leave (vacations) to exotic locales. The stock market just had its worst week in history. According to Birinyi Associates, it’s the fastest correction in 50 years. But it could get even worse next week. Fears about the coronavirus pandemic sparked…

Wilshire Phoenix Slams SEC for Bitcoin ETF Rejection

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Wilshire Phoenix, a New York-based asset management firm, has responded to the United States Securities and Exchange Commission (SEC) rejecting its proposed Bitcoin (BTC) exchange-traded fund (ETF). The firm states it is “very disappointed” by the SEC’s ruling, emphasizing that it went to great lengths to ensure compliance with the SEC’s expectations: “We made every effort to get the SEC’s attention on this important issue, including undertaking extensive analysis that was made available to the SEC staff, submitting key data, and offering to provide additional information to facilitate the listing…

Four Reasons the Xbox Series X Will Be No Threat to the PlayStation 5

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The PlayStation 5 must compete with the new Xbox Series X features. However, the PS5 will have some gimmicks of its own. Sony’s eventual reveal will be a can’t-miss event. The Xbox Series X is shaping up to be a killer platform. This week’s revelation of the Xbox sporting a smart delivery, multi-app suspension means this device will have every quality-of-life feature on the planet. However, even with the current lack of information, the PlayStation 5 (PS5) will surely deliver. Here are a few reasons why. 1. PlayStation has a…

Peter Thiel-Backed Startup Says Texas Is the Best Place to Mine Bitcoin

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Alex Liegl, CEO of Layer1 Technologies, a US-based Bitcoin (BTC) mining company that recently announced its intention to repatriate 30% of Bitcoin’s hash power by 2022, has described Texas as offering miners the “cheapest power in the world, at scale.” Less than two weeks ago, Layer1 commenced mining operations at its facility in western Texas, bringing multiple 2.5-megawatt container rigs online. Texas is the largest producer of wind power in the United States, outproducing the second, third, and fourth-largest producers combined. If Texas were an independent nation, it would be…