Day: September 17, 2020

GM Has Lost Over $400 Million in Nikola ‘Stake’ Since Fraud Claims

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Nikola’s stock has taken a hit from the fraud allegations put out by a short-seller. The stock is now trading significantly below the value at which GM was to get a stake in the new energy carmaker. Securities regulators and federal authorities are investigating Nikola over claims of misleading investors. The stake that General Motors received in Nikola under the strategic manufacturing partnership is already in the red. In the deal with Nikola announced earlier this month, General Motors will receive 47.7 million shares of the new energy carmaker at…

Is Uniswap’s UNI The Crypto Version of a Stimulus Check at $3 Per Token?

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Overnight, crypto Twitter exploded in chatter about what is essentially free money. Liquidity swap platform Uniswap that’s recently enjoyed enormous growth rewarded early users with a distribution share of UNI tokens. The price per token quickly rose, essentially turning the UNI distro into the crypto industry version of the stimulus check. How Uniswap Is Stealing Back The Momentum After SushiSwap Fallout The DeFi trend has taken some strange twists and turns. What started as a very serious movement to build the future of alternative finance, turned into a buffet of…

Here’s Another Damning Chart That the Fed-Fueled Recovery Will Implode

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The Federal Reserve’s monetary policy fueled the recovery since the crash in March. After hitting all-time highs on September 2, the U.S. stock market has undergone correction amid a tech selloff. The implications of the Fed’s accommodative policies are taking effect in the form of significant distortions in the real economy, signaling a growing disparity between Wall Street and Main Street. Ever since the U.S. stock market crashed in March, the Federal Reserve has bootstrapped equities into a mind-boggling recovery. This recovery has taken place along with an unprecedented rise…

This Is Why The Dow Jones Fell 180 Points Today

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The Dow Jones dropped 0.6% points on Thursday. Worries about an impotent Federal Reserve are rising without meaningful fiscal intervention from Congress. IG believes the FOMC has been backed into a corner like Europe’s ECB. A weaker than forecast initial jobless claims number, spiking European coronavirus cases, and fall-out from the FOMC all conspired to knock the Dow Jones lower on Thursday. Dow Jones Falls as Initial Jobless Claims Underwhelm The Dow was the strongest of the major U.S. stock market indices, as the Nasdaq fell 1.5%, and the S&P…

Gwyneth Paltrow Wants to Inject Toxins Into Your Face for ‘Happiness’

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Gwyneth Paltrow is partnering with an anti-wrinkle injectable called Xeomin. It’s a toxin that’s the product of the bacteria found in botulism. Paltrow has a horrible reputation with her business ideas, so why is she still coming up with these products? Gwyneth Paltrow wants to stay young, and she’ll use anything to do it. If you thought her vagina candles weren’t weird enough, she wants to start selling an anti-wrinkle injectable in a partnership with Xeomin. But her company Goop has already warned us that most of her products are…

OKEx goes all in on Uniswap’s new token amid soaring DeFi fees

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Crypto exchange OKEx added Uniswap’s new UNI token to the array of assets offered on its platform, in addition to trading products around the asset. detailed“Not only has OKEx added support for spot trading of UNI, but it is also providing its users with the most comprehensive range of trading products for this hot DeFi token, including margin, swap trading, coin-margined perpetual swap and Savings, making OKEx the first exchange to offer UNI derivatives,” OKEx detailed in a statement Thursday.  Uniswap, a decentralized exchange, launched its own Ethereum-based token, UNI, on Wednesday, dispersing the asset…

Kiss’ Gene Simmons Tweets Cryptic Message About His Bitcoin Plans

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Rock band Kiss’ lead singer Gene Simmons has tweeted a cryptic message about bitcoin in response to a discussion on making cryptocurrency accessible to the masses. Simmons previously said he was interested in bitcoin, noting that its price goes up every time people think it’s dead. Gene Simmons’ Bitcoin Tweet Gene Simmons is an Israeli-born American musician, singer, songwriter, actor, and producer. He was the frontman, bassist and co-lead singer of Kiss, the rock band he co-founded with lead singer and guitarist Paul Stanley. According to IMDB, Simmons has appeared…

After ZYRO, OKEx Lists RIO as Second Jumpstart Mining Project

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OKEx, one of the popular crypto exchange platforms recently introduced staking capability to its blockchain project accelerator platform OKEx Jumpstart. The platform kicked off about a week ago by listing ZYRO as the first mining project, which is now followed by Realio Network’s RIO token. The OKEx Jumpstart Mining of RIO officially went live on September 15, at 12 PM UTC, with spot trading of the token enabled the following day at 9 AM UTC. OKB token holders can start staking the OKB to mine RIO for 14 days from…

Bitcoin Options Open Interest is Growing Again, Hinting at a Big Move

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The open interest of Bitcoin is growing again, indicating at a potentially large price movement in the near term. In the last 24 hours, the Bitcoin price dropped by around 2.2% from $11,093 to $10,860. Many traders talked about the importance of the $11,100 resistance level and BTC cleanly rejected it. The spike in Bitcoin volatility coincides with the imminent expiration of 77,000 BTC options contracts. Bitcoin Options Open Interest is Rising, What Does It Signify? According to Deribit, the BTC options open interest is hovering at around 134,000 contracts.…