Day: December 28, 2020

Be Ready! Bitcoin, Ethereum, Chainlink Price Prediction, Technical Analysis, Targets, News Today

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Facebook to Close Holding Companies in Ireland amid Tax Disputes

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Facebook’s decision to shut down the holding company in Ireland came after the US Internal Revenue Service (IRS) sued the company over its Ireland shore deal. Social networking service company Facebook Inc (NASDAQ: FB) is closing holding companies in Ireland. The social networking service company is winding up the Irish holding companies after the companies helped bring in billions in profit without paying taxes. Facebook in Ireland On the 26th of December, the Times of London revealed Facebook’s plan to shut down holdings companies in Ireland. According to the report, Facebook used…

Bets on Tech Stocks and Cryptocurrencies Brought Small Fortune to US Top Funds in 2020

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Meanwhile, funds that trusted oil and gas, suffered losses. In particular, the Direxion Daily S&P Oil&Gas E&P 2X ETF lost 97.3% this year. The Direxion Daily Junior Gold Miners Bear 2X ETF plunged 95.5% in 2020. This year, the coronavirus pandemic has upended the market and challenged investors, both institutional and individual. Morningstar Inc (NASDAQ: MORN), a leading provider of independent investment research, has conducted research to figure out how US top funds behaved during this hard time and what were the major trends on the market this year. It…

Why you wouldn’t eat chicken nuggets, and why you shouldn’t trust Big Data

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Just like you might think twice about eating chicken nuggets once you see how they are made, you’d likely hesitate about volunteering your personal information once you see how it is used and monetized. Freedom has become one of the world’s most commoditized assets — and over the years, the internet has eroded it. We live in a world where we’re confronted with 5,000 words of terms and conditions when buying sneakers. Crucial details about what companies do with our data is buried in masses of legalese — prompting most…

Bitcoin, Ether, and XRP Weekly Market Update December 28, 2020

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The total crypto market cap added $52.7 billion to its value for the last seven-days and now stands at $742 billion. The top 10 currencies showed mixed results for the same time period with bitcoin (BTC) and Litecoin (LTC) adding 14.6 and 12.1 percent to their values respectively while Ripple’s XRP lost 49.7 percent. By the time of writing bitcoin is trading at $27,277 ether (ETH) climbed further to $730. XRP dropped to $0.29. BTC/USD Bitcoin closed the trading day on Sunday, December 20 at $23,450. It was its first session…

Cover Protocol suffers infinite minting attack, price tanks 97%

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A suspected hacker has exploited the Cover staking protocol, inflating the token supply by printing over 40 quintillion “coins” However, in a surprising move, the suspected attacker returned the funds with a note saying: “Next time, take care of your own shit.” Cover Attacker Mints 40 quintillion tokens. Source: Etherscan.io  In the initial exploit, the attacker liquidated over 11,700 coins on the 1inch decentralized exchange aggregator after inflating the token supply according to data from the Ethereum wallet explorer Nansen. In total, the rogue actor drained more than $5 million…

How I Convinced My Wary Chinese Father to Believe in Bitcoin

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I’ve tried various ways to convince my Dad, a typical Chinese boomer, to allocate part of his hard-earned money into bitcoin, but most of my pitches have failed badly.  For thousands of years in feudal society, the Chinese have a natural inclination to believe in authoritarian power, considering political leaders as head of the family. My pitch of “self-sovereignty” is not just quirky but too wild for my Dad’s generation. This post is part of CoinDesk’s 2020 Year in Review – a collection of op-eds, essays and interviews about the year in…

AZN Stock Up 4% in Pre-Market as AstraZeneca COVID-19 Vaccine Nears UK Approval 

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Pascal Soriot, the Chief Executive of AstraZeneca revealed that the vaccine is as effective as Pfizer and can be a strong protector against the new variant of the virus which is very contagious. AstraZeneca Plc (NASDAQ: AZN) has responded to the circulating news concerning the near approval of its COVID-19 vaccine by next week. According to reports, the UK intends to roll out the vaccine on January 4th after earlier approving and administering the Pfizer–BioNTech vaccine. The positive vaccine news has had a trickle-down effect on the other major stocks…

Ethereum Price Hits 37-Month High on Strained Supply Rate

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Ethereum prices rose Monday as its on-chain fundamentals confirmed supply constraints across all the leading exchanges against rising demand. The Ethereum-to-dollar exchange rate climbed by up to 8.72 percent to $740, a level it last tested in May 2018. Intraday-wise, the pair’s upside move came in the wake of a correcting Bitcoin, which, on Sunday, rose to a new record peak of $28,377. Ethereum is consolidating higher in a Wedge-like pattern. Source: ETHUSD on TradingView.com Ethereum is consolidating higher in a Wedge-like pattern. Source: ETHUSD on TradingView.com So it appears,…