Day: February 5, 2021

‘Reddit Rally’ GameStop (GME) Stock Drops 42%, Down More Than 80% This Week

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On January 27, GameStop shares reached their record closing price of $347.51. However, this upturn did not last long. As major hedge funds squared out their positions, the retail interest has dropped. On Thursday, shares of video game retailer GameStop Corp (NYSE: GME) plunged drastically, closing 42.11% down, at $53.50 per share. After hours, they fell by a further 8%. With this drop, GameStop stock is more than 83% down this week. Notably, it plunged just several days after reaching a peak at around $483 last week. Volatility of Reddit’s…

Crypto-Friendly Travel Firm Travala Becomes the First Merchant to Offer Binance Pay as a Payment Method – News Bitcoin News

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Crypto-friendly travel website Travala has announced the integration of a brand-new payment application, Binance Pay. With such a move, the travel booking company becomes the first merchant to implement Binance Pay as a payment form after its launch on Feb. 3. Five Cryptos and One Fiat Currency Will Be Offered in the First Stage of Binance Pay Per the announcement, Travala allows its customers to use the new payment application, still in beta mode, to book travel products. They include hotels, homes, flights, among others. With Binance Pay, Travala’s users…

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Ripple (XRP) Surges 15%, Why Bulls In Control Above $0.44

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Ripple started a fresh increase above the $0.4000 resistance against the US Dollar. XRP price is likely to accelerate further higher if it clears the $0.4650 resistance. Ripple is up over 15% and it broke a major resistance near $0.4200 against the US dollar. The price is trading well above $0.4400 and the 100-day simple moving average. There is still a key bearish trend line with resistance near $0.4650 on the daily chart of the XRP/USD pair (data source from Kraken). The pair could start a strong increase if there…

MILLIONS OF AMERICANS IN TROUBLE – THE MARKET WILL CRASH IN MONTHS – BITCOIN CRYPTOCURRENCY WARNING

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io WARNING! THERE IS A HACKING/PHISHING SCAM PRETENDING TO BE FULL SPECTRUM SURVIVAL AND REPLYING TO COMMENTS HERE – IF THE ACCOUNT DOES NOT HAVE THE VERIFIED USERNAME CHECKMARK NEXT TO IT, IT IS NOT ME. DO NOT FOLLOW ANY LINKS YOU SEE. #BREAKING #ECONOMY #NEWS The news is here because of members like you! 🛑 PLEASE HELP TO SUPPORT WHAT WE DO 🛑 — Join us on there! You Will Get : * Waterproof Physical Survival Cards sent to you in the…

Former South Korean Social Media Giant to Relaunch Its Business by Creating a New Ethereum-Based Token – News Bitcoin News

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A social media giant that significantly impacted South Korea’s internet influence in the early 2000s is set to take a second breath. The company plans to regain its popularity by launching a new cryptocurrency. New Ownership Reportedly Got Over $7 Million From Investors to Rebrand Cyworld According to Hanguk Kyungjae, Cyworld is paving the ground to relaunch its business under new ownership. The consortium of five domestic companies includes SKY E&M, a local entertainment company. The negotiation wasn’t a million-dollar transaction. In fact, the consortium bought Cyworld from its troubled…

Bitcoin Cannot Be Considered A Medium of Exchange, Says Goldman Sachs Executive

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Bitcoin price volatility has been the subject of speculations, with many suggesting that this could hinder its adoption mainstream. Goldman Sachs Group Mossavar-Rahmani further reinforces this notion and believes that the leading coin cannot be used as a medium of exchange. Volatility a Major Detriment for Adoption Rahmani, who heads the investment strategy group for Goldman Sach consumer and investment management division, spoke extensively about bitcoin in a briefing on Wednesday. Rahmani believes that bitcoin volatility does not bode well for adoption. According to her, an asset with long-term volatility…

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Coinbase IPO a ‘watershed moment’ for crypto regulation: Caitlin Long

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Caitlin Long, founder of Wyoming-based digital asset bank, Avanti Bank & Trust, has predicted Coinbase’s upcoming IPO will be a “watershed moment” for cryptocurrency regulation. Speaking alongside SEC commissioner Hester Peirce during BlockFi and Real Vision’s “Bitcoin in the Real World” event on Feb. 5, Long speculated the IPO of the United States’ leading crypto exchange is likely to “force” the SEC’s hand to establish a precedent for many outstanding regulatory issues key to the digital asset sector. Long emphasized the SEC will examine Coinbase’s prospectus with a “fine-tooth comb,”…

Crypto escrow agent dodges jail after lying over stolen millions

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A Manhattan federal judge has let an escrow agent walk free for deceiving a crypto investment manager about having purchased $3.25 million worth of Bitcoin on their behalf in 2018.  During a hearing held over video conference on Feb. 4, U.S district Judge Edgardo Ramos ordered Volantis Market Making founder John Barry Thompson of Pennsylvania to repay the $3.25 million to New York-based investment manager, Iterative OTC, and sentenced him to three years of supervised release. Thompson pleaded guilty in October 2020. According to legal publication Law 360, Judge Ramos…