Day: February 8, 2020

“Clowns Supervised by Monkeys” Boeing Puts Space Industry in Danger

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Boeing’s unmanned CST-100 Starliner space taxi narrowly avoided a “catastrophic failure” during a December test flight. The problem was due to a software bug that led to erroneous thruster firings, according to NASA. This comes at a time when Boeing is still reeling from two fatal crashes due to faulty MCAS software in the 737 MAX. The bug calls Boeing’s software verification process into question. And it suggests that the toxic culture that produced the 737 MAX infects the entire company. “Clowns supervised by monkeys.” That is how some of…

The Nasdaq Ballooned $1 Trillion Since Jim Cramer Called It ‘Overvalued’

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Well this aged awkwardly. Last July, Jim Cramer admitted tech stocks “have some outrageous valuations,” but “it’s not like we’ve gone crazy.” Over the next seven months, the Nasdaq grew 18% – over a trillion dollars. But Jim Cramer is still cautiously bullish today. And most corporate businesses fear a harrowing recession ahead. Just when have we gone crazy, Mr. Cramer? On CNBC’s “Mad Money” last July, Jim Cramer had no patience for bearish analysts. He was full of open scorn for concerns that the Nasdaq Composite had become overheated:…

Mysterious ‘Binance Cloud’ Launching in 10 Days, CEO CZ Hints

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Binance CEO, Changpeng Zhao, hinted at the imminent unveiling of a new product called Binance Cloud in a recent Twitter AMA. In a wide-ranging ask-me-anything (AMA) on Feb. 7, Binance CEO Changpeng Zhao announced big plans for the cryptocurrency exchange in 2020. One of the most imminent and least explained was the hinted arrival of a new product called Binance Cloud, which will reportedly be unveiled in the next 10 days. Taking Binance into the cloud Exactly what Binance Cloud might entail was not explained, as Zhao remained tight-lipped during…

Mark Zuckerberg’s Machiavellian Strategy to Crush a Facebook Boardroom Coup

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Mark Zuckerberg currently holds nearly 90% of Class B shares in Facebook. Facebook’s board has remained without a lead independent director for months. Zuckerberg’s hold on the board is unlikely to end soon. In the past few years, calls to oust Mark Zuckerberg as chairman at Facebook’s (NASDAQ:FB) annual shareholder meetings have become a ritual. Besides insisting on the separation of the CEO and chairman’s position, independent shareholders have demanded the abolishment of the dual-class share structure. Facebook’s Class A shares that ordinary investors hold currently amount to 2.41 billion.…

Biden Rises From Iowa’s Ashes With Fiery New Hampshire Tour de Force

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Joe Biden may have saved his political life on Friday after finally finding some energy in the New Hampshire debate. The former VP’s campaign is in a desperate position after the bungled Iowa Caucus. Sprinkled with some highlights, Biden’s cash-starved run desperately needed a win, and it just got it. On a night when the Iowa debacle was still hanging heavy over the Democratic party, the New Hampshire debate was an opportunity for Pete Buttigieg to test the waters as a front-runner. Despite this, it was fellow moderate Joe Biden…

This Surprising Data Hints Crypto Market is Preparing for Its Biggest Bull Run Yet

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The funding rates of bitcoin and Ethereum have been significantly higher than average throughout the past four weeks. It may suggest the crypto market is on track for a strong bull run. Funding has been positive for 37 days, showing glowing crypto market sentiment According to a well-known crypto trader who has predicted the bitcoin price to drop to the $5,000s before the next extended rally takes place, funding has been positive for 37 consecutive days. Bitcoin funding is positive for well over a month (source: il Capo of Crypto…

Coinbase Says Bitcoin Will Become Closer to Digital Gold in 93 Days

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With May’s Bitcoin halving event drawing ever closer, Coinbase recently took to pushing the “Bitcoin as digital gold” narrative. In a tweet-storm to promote an accompanying blog-post published Feb. 7, it covered the key reasons why the halving and subsequent supply rate reduction will further cement that link. Scarcity creates value Since the gold standard was broken in 1971, the dollar’s value has declined and gold’s value, in dollar terms, has risen over 4000%. Gold has more value than similar metals such as copper due to its relative scarcity and…

OneCoin Ponzi Scheme Lives on as TV Show

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The co-founder of cryptocurrency-inspired Ponzi scheme OneCoin faces charges of fraud and money laundering in her absence — but will now become a movie star. As Hollywood news outlet Deadline reported on Feb. 4, a United States production company has won the rights to a podcast about Ruja Ignatova originally aired by the British Broadcasting Corporation (BBC) in the United Kingdom. OneCoin drama plans to “get the word out” Charting the rise, fall and disappearance of Ignatova, “The Missing Cryptoqueen” saw 3.5 million downloads in four months when it went…

Bitcoin SV (BSV) Jumps 17% Out of Nowhere

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The price 0f Bitcoin SV (BSV) on Saturday surged by up to 17 percent in what appears to be a whale-influenced pump. The BSV-to-dollar exchange rate climbed from $288.71 to as high as $343.53 in just four hours. The pair’s move uphill followed days of choppy sideways action and a humongous 300 percent jump before, showing that Bitcoin SV is initiating a run towards its year-to-date top of circa $458. Bitcoin SV jumps exponentially to break out of its flag range | Source: TradingView.com, BitFinex The jump came even though…

Bitcoin May Dip to $6.8K Without New Coronavirus-Style Event — Trader

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Bitcoin (BTC) may have come within 2% of $10,000 this week, but its 40% gains in 2020 are now making traders bearish about the future.  Speaking to Cointelegraph in a Market discussion on Feb. 7, two trading heavyweights highlighted what they consider to be the increasing potential for Bitcoin to lose value in the short term.  DiPasquale: BTC benefits from global instability Alameda Research co-founder Sam Bankman-Fried was undecided on Bitcoin’s trajectory, while Bitbull Capital co-founder Joe DiPasquale identified $6,800 as a bear target for BTC/USD. “I think if there…