Day: March 5, 2020

Tesla Short-Sellers Profit from Unlikely Scenario as Coronavirus Ravages Market

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Since the 2019 low, Tesla’s stock has rallied over 400%. Long-suffering short sellers recently managed to catch a lucky break amid the coronavirus-induced selling. TSLA is overwhelmingly the most shorted stock currently. Despite incurring massive losses due to Tesla’s (NASDAQ:TSLA) 2019-20 rally, short sellers are yet to give up. Their patience paid off somewhat during the coronavirus-induced market selloff. According to fintech firm S3 Partners, Tesla short sellers were among the biggest gainers in a span of over seven trading days when short sellers made over $50 billion. Over that…

Bitcoin Will Hit $13,000 by Mid-April, Hedge Fund Manager Says

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In the midst of bitcoin’s explosive surge that took its prices above $9,000 per token, Mohit Sorout of Bitazu Capital reiterated his $13,000 price target of the cryptocurrency. The hedge fund manager tweeted a bitcoin chart that showed the cryptocurrency tailing the path of his bullish prediction from late February. He noted that bitcoin’s latest jump brought it above a combination of support levels, mainly the so-called ‘MSORO bands,’ confirmed a renewed buying sentiment among traders. MSORO BANDS charts the sum of open long and short positions | Source: Mohit…

Canaan Faces Class Action Lawsuit Alleging Dubious Practices During IPO

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Blockchain services and cryptocurrency mining hardware producer Canaan is facing a class-action lawsuit filed by investors following claims of dubious practices for attracting investments.  Investor rights-focused law firm Rosen Law Firm has initiated the suit on behalf of Canaan securities purchasers in the company’s initial public offering (IPO). The law firm claimed that Canaan investors suffered damages as the firm had made false and misleading statements and failed to disclose a number of issues. Canaan allegedly misled investors regarding a partnership According to the announcement, Canaan did not reveal to…

South Korea Passes Law to Introduce Permit System for Crypto Exchanges

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On March 5, South Korea’s National Assembly passed a revised bill on the reporting and use of special financial transaction information, focusing on the introduction of a permit system for cryptocurrency exchanges. Accordingly, virtual asset operators such as cryptocurrency exchanges would have to report their operations to the Financial Intelligence Unit (FIU) under the Financial Services Commission after obtaining “real name-confirmed accounts” from commercial banks. Failure to report operations could result in up to five years in prison or 50 million won ($42,000) in fines. The bill, to be implemented…

Why Does Coronavirus Have a 29% Death Rate in Seattle?

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The Wuhan coronavirus has killed a staggering 29% of all confirmed cases in King County, Washington. This disproportionately high rate of death demonstrates how dangerous the virus is for elderly Americans. Covid-19 could alter America’s demographics if it spreads as widely as the seasonal flu. So far, the coronavirus outbreak in King County Washington seems to be one of the most fatal in the world. Out of the 31 residents confirmed to be infected with the virus, nine have died according to Washington State’s department of health. This gives the…

Trump’s Sudden Pivot to Burisma Conspiracy Proves He’s Scared of Joe Biden

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Joe Biden has enjoyed an unexpected surge and is once again the favorite to challenge Donald Trump in November. GOP lawmakers are suddenly scrambling to resurrect their investigation into Hunter Biden’s association with Ukrainian energy company Burisma. Renewed interest in the Burisma scandal highlights that Trump is taking Joe Biden seriously – as he should. That President Donald Trump himself was gabbing with Sean Hannity on Fox News about his strategy to attack Joe Biden less than 48 hours after Super Tuesday says it all. Biden’s stunning comeback has suddenly…

Trump’s Sudden Pivot to Burisma Conspiracy Proves He’s Scared of Joe Biden

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Joe Biden has enjoyed an unexpected surge and is once again the favorite to challenge Donald Trump in November. GOP lawmakers are suddenly scrambling to resurrect their investigation into Hunter Biden’s association with Ukrainian energy company Burisma. Renewed interest in the Burisma scandal highlights that Trump is taking Joe Biden seriously – as he should. That President Donald Trump himself was gabbing with Sean Hannity on Fox News about his strategy to attack Joe Biden less than 48 hours after Super Tuesday says it all. Biden’s stunning comeback has suddenly…

Africa Faces Coronavirus Catastrophe as Tourists Deliver Deadly Infection

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The WHO advises against travel restrictions amid the coronavirus outbreak. But many countries are ignoring its advice. Coronavirus cases are growing in Africa as international travelers bring the disease to Nigeria and other ill-prepared countries. African leaders need to ignore the WHO’s guidelines and restrict foreign travel before they import a coronavirus catastrophe. African leaders should ignore the WHO’s bad advice, and ban travel from coronavirus-affected areas. | Image: AP Photo/John Muchucha On February 27, Nigeria declared the first case of coronavirus in Sub-Saharan Africa. The patient, a middle-aged Italian…

Jack Dorsey’s Square Publicly Launches Grants for Bitcoin Development

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Square Crypto, the payments company launched by Twitter founder Jack Dorsey, is now officially supporting Bitcoin (BTC) development through a grant program. This formalizes the already significant contributions made by the company toward the cryptocurrency. Through a March 4 announcement, the company announced that the Square Grants program would be made publicly available. Two developers had already received grants: BTCPayServer received $100,000 to continue development of its open-source payment processor, and a pseudonymous developer received an undisclosed sum in connection to Lightning Network development. With the announcement, Square revealed to…

Popular Twitch Streamer Falls Asleep On-Stream to Earn $5,500

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Popular Twitch streamer Mizkif streamed himself sleeping earlier this week. He earned over $5.5k from media share donations and subscriptions. Mizkif donated the majority of his earnings to a fellow streamer and gifted a Nintendo Switch to a viewer. Anyone that’s spent any considerable amount of time on Amazon’s Twitch streaming platform is acutely aware that streamers excel at finding unusual ways to make a living. Whether it be playing video games for hours on end, offering political commentary, or taking viewers on adventures IRL, there’s no shortage of examples.…