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Day: May 24, 2020
Goldman Sachs to Host Conference Call on Crisis, Crypto, and Inflation
Goldman Sachs will host a conference call on May 27 titled US Economic Outlook & Implications of Current Policies for Inflation, Gold, and Bitcoin. On May 23, Mike Dundas, the founder of crypto media outlet The Block, posted a screenshot of the invitation for the call, revealing that the event will be hosted by Sharmin Mossavar-Rahmani, the CIO of Goldman’s Investment Strategy Group, alongside Harvard economics professor Jason Furman, and Goldman Sachs’ chief economist Jan Hatzius. Goldman Sachs appears to be warming to Bitcoin The news has been heralded as…
Why Analysts Expect a Deeper Drop After Bitcoin Just Crashed Below $9,000
After rallying 5% from the weekly lows, the Bitcoin bull trend has petered out once again. This weakness culminated in a drop below $9,000 just minutes ago, marking the lowest price BTC has traded at in approximately three days. Bitcoin price chart from TradingView.com While the price action has been weak, few bulls have been liquidated. Data shared by Skew.com, a crypto derivatives tracker, indicates that less than $1 million worth of long positions on BitMEX were liquidated over the past hour. Millions more worth of longs were liquidated multiple…
The Rich Are Getting Richer Thanks to the Fed’s Stock Market Pseudo-Intervention
The Fed’s market intervention is exacerbating wealth inequality. The central bank’s cash injections have driven stock prices higher. As the wealthiest households own the majority of stocks, their wealth has increased while the poor have less money. In an ideal world, the Federal Reserve’s interventions would help those who need it the most. But in reality, a recession hits those with fewer resources the hardest. The Fed’s interventions help more the rich than the poor as they boost stock valuations. The Rich Are Getting Richer While The Poor Are Getting…
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Enterprise Blockchains: Seven Steps to Success
In my approximately two-decade career at Microsoft, I had the privilege and the opportunity to first work on the company’s emerging enterprise strategy, to architect and ship key enterprise technologies, and to build a strategic enterprise business and profit and loss. I think I can say with some level of credibility that I understand the enterprise software business well, and this is what leads me to the question of why enterprise blockchain adoption is still gently meandering along. First, let us start with the question of how emerging technologies typically…
Trump’s Coronavirus Stimulus Checks are Failing Where it Matters Most
While coronavirus stimulus checks did offer a bump in consumer spending, it was only temporary The government will need to keep sending out money if it wants to keep the economy afloat The stimulus money could be taking away the incentive for some Americans to return to work U.S. lawmakers are locked in a debate over whether or not to send out another round of coronavirus stimulus checks. There’s no question that many families will suffer without another round of coronavirus stimulus spending. Coronavirus unemployment benefits are due to end…
Teenage Crypto Hacker Allegedly Threatened Life of 16yo Accomplice
Ellis Pinksy, the hacker who allegedly masterminded the theft of $23.8 million worth of crypto from pioneering investor, Michael Terpin, planned on retiring after the heist at the age of 15. However, after turning 18, Pinsky became the subject of a $71.4 million civil suit from Michael Terpin, who is seeking damages equal to triple the sum that was stolen three years ago. 18-year-old sued for $71.4 million for crypto theft At one point, Pinsky allegedly told the informant “I could buy you and all your family. I have 100…
Hacker Sells Tens of Thousands of Ledger, Tezor, and Keepkey Users’ Info
The hacker that breached the Ethereum.org forum is allegedly selling the databases for the three most-popular crypto hard wallets — Ledger, Trezor, and KeepKey. The three databases contain the name, address, phone number, and email for more than 80,000 users combined, however, they do not contain passwords for the accounts. The hacker has also recently listed the SQL database for online investment platform, BnkToTheFuture. Ledger and Trezor databases reportedly compromised On May 24, cyber crime monitoring website, Under the Breach, spotted the hacker’s new listings for the databases of the…
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