Day: July 22, 2020

FB Stock Down 1% Despite Bullish Calls, Facebook Faces Lawsuit

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Analysts are optimistic about Facebook (FB) stock amidst growing expectations of profitable earnings and a new class-action lawsuit. The shares of social media giant Facebook Inc (NASDAQ: FB) closed Tuesday’s trading session with a 1.50% loss at $241.75. Today FB stock is also down 0.85%. This decrease may in part be attributed to the class-action lawsuit filed by Australian based cryptocurrency exchanges on the trio of Facebook Inc (NASDAQ: FB), Alphabet Inc (NASDAQ: GOOGL) and Twitter Inc (NYSE: TWTR) for banning cryptocurrency-related ads. The downtrend came despite Rosenblatt Securities revising…

American Blockchain Dream in Sight, but the Chase Not Over Yet

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As blockchain adoption continues to garner mainstream traction across the private sector, an increasing number of government agencies are too looking to explore the potential of the technology. For example, the United States Food and Drug Administration recently released an elaborate blueprint as to how it plans to deploy blockchain for food safety-related purposes. According to the FDA, the agency will combine the use of blockchain with other advanced technologies such as artificial intelligence and the Internet of Things to enhance the traceability of food sources as well as for…

Tech Like CBDCs Central to Senate Hearing on China-US Competition

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On July 22, the Senate Banking Committee’s Subcommittee on Economic Policy held a hearing on the role of innovation in the rising com Today’s hearing comes on the heels of a Department of Justice indictment yesterday against several hackers accused of working for the Chinese government to steal trade secrets from U.S. companies as well as to rumble dissidents in places like Hong Kong.  CBDC as a zone of competition J. Christopher Giancarlo, former Chairman of the CFTC and current leader of the DIgital Dollar Project, testified today on the…

DeFi Crypto BAND Explodes 384% QTD on Booming Adoption

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BAND, the native token of the Band Protocol, rose by as much as 384 percent in the third quarter. The supersonic price rally appeared amid the ongoing DeFi craze – and also following Band’s growth-oriented partnerships. Nevertheless, the BAND/USD pair stands overbought, which points to an imminent downside correction ahead. An explosive buying spree in the DeFi sector has sent one of its tokens up by 384 percent on a quarter-to-date (QTD) timeframe. Dubbed as BAND, the cryptocurrency is a native asset of Band Protocol, a decentralized oracle that serves…

Avalanche Blockchain Protocol Raises $42M in 4.5-Hour During Public Sale

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The Avalanche project, a blockchain protocol founded by Cornell’s Emin Gün Sirer, has completed a $42 million public token sale after raising $12 million in a private sale in June. Avalanche blockchain developer AVA Labs said that the Avalanche network launch is expected to come by the end of August. Public sale offered a total of 72 million AVAX tokens The $42 million public sale took place on July 15, taking just a few hours to complete. Starting at 10:00 a.m. ET, the token sale offered up to 72 million…

China Has Kickstarted the Experimentation of a Blockchain Pilot in its Equity Trading Industry

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The China Securities Regulatory Commission (CSRC) has kickstarted the experimentation of a blockchain pilot for the equity trading industry in the country. The China Securities Regulatory Commission issued a letter on July 7, approving five regional equity markets, including centers in Beijing, Shanghai, Jiangsu, Zhejiang, and Shenzhen.  Announced by the Beijing Local Financial Supervision and Administration, CSRC will be assisting the Beijing Equity Trading Center for the blockchain pilot. As of June 30, 2020, Beijing’s Equity Trading Center has served more than 1000 unlisted joint-stock companies, and have held equity…

Elon Musk Close to $2.1B in Stock Option, Tesla Q2 Results Today

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While Tesla is coming closer to the announcement of its Q2 earnings results, Elon Musk is approaching his another big payout day. Tesla Inc (NASDAQ: TSLA) CEO Elon Musk stands to receive a second set of stock options worth $2.1 billion. It comes as Tesla has consistently had a market capitalization of $150 billion in the last six months. This makes Elon Musk (should the board approve) eligible for the second of a series of 12 payouts in stock options. Yesterday, Tesla (TSLA) stock price was $1,568.36 (-4.54%), while today…

Binance CEO Believes Bitcoin is Going to $1 Million, But With a Twist

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In an interview with Altcoin Daily, Binance founder, and CEO, Changpeng Zhao (CZ) answered true to Bitcoin reaching a $1 million valuation one day. However, considering that the price prediction came from a quickfire, true, or false segment at the end of the interview, it would be wise to take this valuation with skepticism. Of more significant concern was CZ’s view on the long term outlook for the market leader. Contrary to his million-dollar price prediction, he believes a bigger and better alternative will replace Bitcoin at some point. CZ’s…

Deutsche Telekom’s T-Systems Is Now a Chainlink Node Operator

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A subsidiary of Deutsche Telekom called T-Systems has become a Chainlink (LINK) node operator. Deutsche Telekom is one of Germany’s leading companies, employing over 200,000 people and has a market capitalization of $80 billion. The fact that one of its subsidiaries is to become a provider of decentralized data feeds that are rewarded in cryptocurrency is significant. T-Systems’ announcement calls this arrangement “generalized mining”: “By providing real-world data to the Chainlink network, T-Systems MMS engages in a so-called ‘generalized mining’, where it provides an IT service to a blockchain network…