Day: November 18, 2020

‘Wake up and smell the coffee’ — regulation is coming to DeFi, says expert

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Since the Financial Action Task Force, or FATF, introduced its controversial “travel rule” for businesses in the crypto space, the debate over the suitability of established regulatory frameworks for cryptocurrencies has been unrelenting.  Some experts, however, believe that the industry’s experience with the FATF guidelines is only the tip of the iceberg, and points to more significant challenges down the line.  During the concluding panel of the V20 conference on Nov. 18, Siân Jones said that the collision between new, decentralized models of finance and older models of regulation has…

TSLA Stock Up 8%, Tesla Sends Musk’s Wealth to $117B after News on Inclusion into S&P 500

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Elon Musk has benefited a lot from the inclusion of Tesla into the S&P 500 index with a positive response from the public. Elon Musk, the CEO of SpaceX and Tesla Inc (NASDAQ: TSLA) has climbed up the ladder of the world billionaires set to overtake Mark Zuckerberg, CEO of Facebook Inc (NASDAQ: FB), after recording an additional $15 billion to his net worth after Tesla was announced to be approved for the inclusion into the S&P 500 Index. His net worth currently sits at $117.5 billion which is a…

Berkshire Hathaway Bets Big on Pharmaceutical Stocks in Q3

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Moreover, through Berkshire Hathaway Warren Buffett has made a number of other investments in several industries this year besides the pharmaceutical stocks. Warren Buffett-owned Berkshire Hathaway Inc (NYSE: BRK.A) made huge bets up to $5.7 billion on some key pharmaceutical industry stocks in Q3 amid a general downturn in the healthcare sector stirred by the coronavirus pandemic. According to a Reuters report, the investment was made on AbbVie Inc (NYSE: ABBV), Bristol-Myers Squibb Co (NYSE: BMY), Merck & Co. Inc (NYSE: MRK), and Pfizer Inc (NYSE: PFE) Per the Reuters report,…

Textbook Bullish Indicator Sees Yearn Finance (YFI) At $30K

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Yearn Finance’s governance token YFI plunged Wednesday as traders secured their short-term profits from its supersonic rally. The YFI/USD exchange rate dropped 4.34 percent to $22,915 after forming a 47-day high near $25,000. The descent also came as a part of a downside correction that typically appears after every bullish move in an uptrend. YFI later found support near $20,000, reflecting traders’ inclination to continue the bull run. Yearn Finance Upgrade A stronger buying demand for YFI surfaced after its parent protocol, Yearn Finance, implemented a new improvement proposal. As…

Bitcoin Indicator Suggests Bull Market Is Still in Early Phase

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Bitcoin has plenty of scope to extend its current rally, a price indicator suggests, even as the cryptocurrency is fast closing on the record high near $20,000 set three years ago. With prices rising by 80% to levels above $18,000 in the past six weeks, the cryptocurrency’s Mayer Multiple – the ratio of price to the 200-day moving average – has risen to a 16-month high of 1.67. However, the metric is still well short of the 2.4 threshold that has historically signaled the final leg of the bull markets.…

Thai crypto business to get liquidity boost following new regulations

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Thailand’s Securities and Exchange Commission has revised its net capital rules regarding digital assets. According to a Nov. 18 report by The Bangkok Post, the Thai SEC now allows firms dealing with digital assets to include the value of those assets when calculating their net capital funds.  The new rules follow a surge in volumes on Thai exchanges. The Bangkok Post states that, following the United States presidential election, the Stock Exchange of Thailand saw one-day trading value hit $5.5 billion while futures contracts on the Thailand Futures Exchanges increased…

Bitcoin, Cryptocurrency, and Ethereum Update

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Latest Bitcoin and Cryptocurrency news and trends. We take a look at the key events affecting the blockchain sector and review market movements. Combining both fundamental analysis and technical analysis to give you full coverage of the crypto space. Find out the latest developments in DeFi and yield farming. 0:00 introduction 5:35 Market recap 13:38 ETH 2.0 22:44 News recap 26:54 Why is Asia bearish? 30:28 DuckDAO 31:32 Genesis Block HK 33:02 What I’m holding/farming 41:58 News recap 44:46 Bull trap? Spotify:…

Mexican Billionaire Reveals He Put 10% of His Portfolio in Bitcoin

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It’s totally fair to say that the institutional investors are finally entering the Bitcoin and crypto-asset markets. Bitcoin has seen a strong rally over the past few weeks and months. In the past month alone, the cryptocurrency has gained 50%. It has become increasingly clear that this rally has been driven by the entrance of so-called “smart money,” or capital from institutional players and billionaires. It was just revealed that a Mexican billionaire deployed a large portion of his assets into Bitcoin. Related Reading: Here’s Why Ethereum’s DeFi Market May…