Day: November 5, 2020

Biogen (BIIB) Stock Up 44% After Signs of FDA Nod for Alzheimer’s Drug

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The FDA called the latest results of the test for Biogen’s Alzheimer’s drug Aducanumab as “highly persuasive” and suggested that it is likely to approve the drug by the coming Friday. On Wednesday, November 4, Biogen Inc (NASDAQ: BIIB) stock rallied a straight-up 43.97% after the Food and Drug Association said that they have enough data leading to a possible approval of the Alzheimer’s drug. The FDA agreed on seeing results from Biogen’s late-stage trial, study 302, calling them “highly persuasive”. Analysts said that Biogen can soon receive an approval…

Bitcoin Price Above $14K Now Similar to $700 Scenario amid 2016 U.S. Election

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Analysts anticipate Bitcoin and markets to experience the big moves after the confirmation of election results, just as it happened four years ago. Bitcoin has seen less price volatility in both the 2016 and 2020 U.S. election. History has actually repeated itself as Bitcoin broke the major multi-year resistance of $14K just recently. Most investors and traders had expected massive volatility to take place through the voting hours, but only little occurred as it hovered under $14k. However, Bitcoin’s price moved in tandem with equity markets and breached the crucial…

Crypto mining is now drawing in the world’s top renewables producers

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En+ Group, the world’s top producer of low-carbon aluminum and the largest private-sector generator of hydropower, has entered its first crypto mining joint venture. The new venture, called Bit+, will focus on creating facilities that support crypto mining with a low carbon footprint. En+ Group’s partner in Bit+ is the Russian company BitRiver, which provides hosting services and turnkey solutions for large-scale, institutional crypto mining operations. BitRiver currently operates the largest data center offering colocation services for Bitcoin (BTC) mining in the Russian Federation and offers similar services across the…

DeFi Coins Yearn.finance (YFI) and Uniswap (UNI) Drop 10% Despite ETH Bounce

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The decentralized finance (DeFi) space has seen an extreme correction over the past few days and weeks in spite of a Bitcoin rally. The leading cryptocurrencies pertaining to this space are now down by over 70% from their all-time high (on average) while BTC has gained 30% in the past two weeks. For one, Yearn.finance (YFI), a top DeFi coin, has dropped by around 20% from its all-time high. YFI peaked at $44,000 some two months ago as buyers flooded in en-masse, though the correction that followed was severe as…

Crypto trading platform Bybit partners with soccer club Borussia Dortmund

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Top-tier German soccer club Borussia Dortmund, or BVB, is entering a multi-year partnership with the crypto trading platform Bybit. At present, details of what the partnership will involve, beyond mutual brand outreach, remain slight. In a statement for Cointelegraph, Bybit CEO Ben Zhou pointed to BVB’s huge popularity, characterizing its fan base as the seventh-largest in the world. He said:  “With the partnership, Bybit intends to increase its global reach and branding, as the Bybit logo and slogans will be presented virtually on BVB’s matches, their websites and social platforms.”…

CEO of crypto derivatives exchange FTX donated $5M to Biden campaign

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Sam Bankman-Fried, the CEO of Hong Kong-based cryptocurrency derivatives exchange FTX, donated $5.2 million to vice president Joe Biden’s presidential campaign. As The Wall Street Journal reported on Oct. 28, Biden’s presidential campaign received a total of $79.5 million from the top 100 donors describing themselves as CEOs. Bankman-Fried is reportedly the second-largest “CEO-contributor” to the campaign after Michael Bloomberg, a co-founder of the eponymous financial and media company, who donated $56 million. The major contributions by CEOs to both Biden and current president Donald Trump are still only a drop in…

Bitcoin price reaches $14,500, the highest level since January 2018

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Bitcoin (BTC) hit $14,500 for the first time since early January 2018 on Nov. 5 as crucial support held at $14,000. BTC price preserves $14,000 support Data from Cointelegraph Markets and TradingView showed Bitcoin’s gains continuing in Thursday trading, amid market tension over the U.S. election result. At press time, highs of $14,560 had appeared on major exchange Bitstamp, with BTC/USD subsequently returning to fluctuate around $14,500 amid volatile conditions. BTC/USD 1-day chart. Source: TradingView Daily gains for the pair stood at 6.5% as election turmoil produced solid gains for both…

Russian Hydropower Giant Opens Bitcoin Mining Farm

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En+, one of the largest aluminium and power producers in the world, is venturing into crypto mining.   En+ decided to enter the crypto space after some experimentation in the field, the firm’s chief financial officer, Mikhail Khardikov, told CoinDesk via a spokesperson. Three years ago the company got mining firm BitRiver as a client, selling power to its farm in Bratsk.  BitRiver owns the largest mining venue in Russia, hosting about 100 megawatt worth of clients’ ASICs on a farm near the Bratsk hydropower plant in Siberia. The firm is…