Day: November 23, 2020

Alibaba CEO Says Rules to Control Chinese Fintech Space Are Necessary

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Recently, the Chinese regulators subjected the likes of Tencent Holdings Limited (OTC: TCEHY), Meituan (OTC: MPNGF), and Alibaba Group under critical scrutiny. Daniel Zhang, the CEO of Alibaba Group Holding Ltd (NYSE: BABA), in a World Internet Conference held at Wuzhen declared his support for the draft released by the Chinese regulators to curb internet giants and check their monopolistic behavior in the fintech market. The regulator’s decision recently caused the Ant Group‘s IPO led by the Alibaba Group to cease operation 48 hours before the scheduled event. The CEO of…

Poker Site Buys $100 Million of Bitcoin Every Month to Pay Players in BTC

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A major online poker website has been buying millions of dollars of bitcoin every day to meet demand from players wanting to cash out in bitcoin. This amounts to $100 million in bitcoin a month as about 95% of players now demand payouts in the cryptocurrency. Poker Site Buys $100 Million of Bitcoin Demand for bitcoin payouts has been rising, particularly after the recent price rally. One of the largest online poker websites, Winning Poker Network (WPN), has been buying millions of dollars worth of bitcoin in recent weeks from…

Bitcoin Extends Rebound on AstraZeneca-Oxford Vaccine Results

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Bitcoin rose Monday, putting itself back on track to retest its record high after promising results on a coronavirus vaccine reinforced hopes of an economic rebound next year. The spot BTC/USD exchange rate climbed 0.95 percent after the benchmark cryptocurrency briefly snapped its six-week winning streak on Sunday. The pair touched an intraday high of $18,777, followed by a small correction lower. Nevertheless, it maintained its overall upside bias for the New York session ahead. Bitcoin eyes a bullish continuation towards its yearly high near $19,000. Source: BTCUSD on TradingView.com…

China Intends to Hold Second Digital Yuan Lottery Trial

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China is scheduled for another test trial for its digital currency. The country had previously offered millions of digital yuan in a lottery during its biggest public test. Today, it has been reported that China would give way the country’s central bank digital currency (CBDC) – digital yuan – in a second lottery to be held in another city next month. According to the news, the giveaway, designed to gauge digital yuan’s usability, will be held in the city of Suzhou during the “Double 12” shopping festival on December 12.…

The Police And Law Enforcement All Have This In Common?

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io The Police And Law Enforcement All Have This In Common? On Financial Literacy 101, we give budget strategies, get out of debt methods, saving and investment tips as well cover stimulus check updates, stimulus package updates, and any new developments regarding the next stimulus relief package. Awaiting the Hero’s Act to boost the American economy as will the people in response to businesses closing, schools shutting down, and families losing their homes. The second stimulus check is more vital than the first…

Russia’s Gazprombank debuts Bitcoin trading in Switzerland

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Gazprombank Switzerland, a subsidiary of one of the largest banks in Russia, has piloted its Bitcoin (BTC) transaction service following regulatory approval by Swiss regulators. According to a Nov. 19 announcement, Gazprombank will provide its new cryptocurrency solution in collaboration with its long-running partners like fintech firm Avaloq and crypto custody provider Metaco. Gazprombank Switzerland CEO Roman Abdulin said that the new service intends to make crypto transactions “as easy as transactions with traditional assets,” stating: “Digital assets will become increasingly important for our clients and the global economy. We…

China Construction Bank Reportedly Withdraws $3 Billion Blockchain Bond

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While there’s no explanation given by CCB, the recent withdrawal of the blockchain bond has left investors upset. The Malaysian crypto exchange Fusang expressed disappointment on CCB’s decision. The China Construction Bank has reportedly withdrawn a $3 billion blockchain bond listing that was likely to support trades in Bitcoin and USD. Malaysian cryptocurrency exchange Fusang was supposed to list the bond appraised of the withdrawal on the issuer’s request. As reported by Reuters, the exchange received a letter of cancellation from CCB Labuan last week on November 20. As per…

REGN Stock Up 5% in Pre-market, Regeneron COVID-19 Drug Approved for Emergency Use by FDA

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Regeneron noted that the initial dose of its COVID-19 drug will be released through a federal government allocation program to approximately 300,000 patients across the country. Regeneron Pharmaceuticals Inc (NASDAQ: REGN) stock has jumped 4.67% during Monday’s pre-market to trade around $542.97. REGN stocks closed Friday trading at $518.74, after adding 0.74%. The spike during Monday’s pre-market is attributed to news that Regeneron Pharmaceuticals’ COVID-19 drug has been approved for emergency use by the Food and Drug Administration (FDA). Apparently, being the second drug to be approved for emergency use…

Ripple on Hunt for CBDC Expert to Drive Collaboration with Central Banks

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Ripple does not want just anyone with blockchain experience to apply, due to the nature of the task the CBDC expert will lead, the first requirement listed includes more than 10 years of experience in enterprise technology sales or account management. Ripple has posted an announcement for the role of Senior Director for Central Bank Engagements in its grand plan to advance its Central Bank Digital Currency (CBDC) drive. According to the job posting, the role is a multi-function one and will see the lucky expert lead Ripple’s CBDC strategy…

Why Mainstream Media is Going Hot For Bitcoin

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Bitcoin’s amazing run of form these past couple of weeks is forcing the crypto skeptics to think again. Today sees a sell-off to $17.9k at the time of writing. However, with BTC rallying 150% since the start of 2020, many analysts believing it’s just a matter of time before Bitcoin cracks its previous all-time high. Source: BTCUSDT on TradingView.com In fact, with the renewed optimism comes a slew of outlandish price predictions. It’s a given that John McAfee’s end of 2020 $1 million valuation likely won’t happen. But Citibank recently came…