Day: September 24, 2020

ICO fines company flouting the law in order to profiteer from the coronavirus pandemic

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The Information Commissioner’s Office (ICO) has fined Digital Growth Experts Limited (DGEL) £60,000 for sending thousands of nuisance marketing texts at the height of the pandemic. Seeking to capitalise and profit from the pandemic DGEL sent the texts, of which 16,190 were received, between 29 February and 30 April 2020 promoting a hand sanitising product that it claimed to be “effective against coronavirus”. The messages were all sent to people who had not consented to receive them. Andy Curry, Head of Investigations at the ICO, said: “DGEL played upon people’s concerns…

JPMorgan to Pay $1 Billion in Penalty Due to Spoofing Mistake

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JPMorgan is looking ahead to settle regulatory charges of market manipulation by paying a massive $1 billion in penalty. The DOJ, the SEC, and the CFTC have been conducting an investigation for a long time over the bank involvement in unfair trading practices in the metals market. Wall Street banking giant JPMorgan Chase & Co (NYSE: JPM) is likely to pay $1 billion in a penalty to resolve the U.S. government investigations over the allegations of involvement in manipulation of metal and treasury markets. As per the Bloomberg report, the…

Nike Stock Soars 8.7% Amid Positive Earnings Guidance

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On Wednesday Nike (NKE) stock was up 8.76% adding $10.24 to its stock value and closed at $127.11. The performance of Nike Inc (NYSE: NKE) stunned Wall Street yesterday as the sportswear maker’s stock surged over 8.7% on Wednesday. According to MarketWatch, the Nike (NKE) stock got the lift following expectations of a full fiscal year revenue forecast that is expected to be up by about a high single-digit or a low double-digit. The company is one of Wall Street’s outfits to altered the mode of its operation due to…

Statement from Information Commissioner Elizabeth Denham on the NHS COVID-19 app

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“I am pleased that the app being launched this month is supported by the necessary consideration of people’s data protection rights. “The Department for Health and Social Care has engaged with my office from the start of this project, answering our questions on transparency, legality and fairness, making changes in response to our feedback, and appreciating the value of data protection in encouraging public trust and support. “We are in unprecedented times, and as a regulator it is my responsibility to both protect people’s privacy rights and take a pragmatic…

Iran Is Ripe for Bitcoin Adoption, Even as Government Clamps Down on Mining

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Iran-based bitcoiner Zahra Amini was used to answering questions on cryptocurrencies, but usually about their relationship with crime. So when a 70-year-old man recently asked her to explain crypto because he no longer wanted to rely on the national rial, Amini felt something had changed.  “If people that age are thinking about storing their wealth in anything rather than the national rial, it’s because they are just losing confidence in it, and more and more people are looking for alternatives,” Amini told CoinDesk.  Bitcoin is increasingly relevant in Iran as…

Ripple (XRP) Price Plunges to $0.22: Can Bulls Save This Key Support?

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Ripple is down 5% and it broke the key $0.2300 support zone against the US Dollar. XRP price tested the next major support at $0.2200 and it is currently struggling to recover higher. Ripple remained in a bearish zone and broke the key $0.2300 support against the US dollar. The price is testing the $0.2200 support trading well below the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $0.2315 on the hourly chart of the XRP/USD pair (data source from Kraken). The…

Me, Myself and My Multiple Avatars

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It is going on 9pm, but noon day sun continues to stream through the windows. You’re tired. You look out longingly at the palm trees and roller skaters lining the Santa Monica beach outside the office. “Alright, I’m done. I’m logging out for the night,” you say as you look up at your coworker, sitting across the large, clean, bright white conference room. You are one of the last ones working into the evening tonight. This post is part of CryptoX’s “Internet 2030” series about the future of the crypto…

Ethereum Key Indicators Suggest A Strengthening Case For Correction Below $300

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Ethereum is down 5% and it broke $330 and $320 support levels against the US Dollar. ETH price remains at a risk of more losses below $300 as long as it is below $340. Ethereum extended its decline below the $330 and $320 support levels. The price traded as low as $313 and it settled well below the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $330 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline further…

SEC halts trading for blockchain company run by former Ron Paul staffer

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The United State’s securities watchdog has placed a temporary trading suspension on the stock of Vortex Blockchain Technologies until October 6. The Securities and Exchange Commission (SEC) cited confusion over the nature of Vortex’s business operations and the value of their assets as the reason behind the temporary suspension. Vortex Blockchain Technologies Inc, formerly UA Granite Corporation, has been developing a variety of applications in the cryptocurrency space. Its activities reportedly include cloud mining, blockchain hardware and software development, and a cryptocurrency wallet and exchange. The company, which has not…