Day: February 19, 2021

Uber Stock Down 2% in Pre-market, Company Loses Case against Drivers

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Currently, there are close to 1,000 pending similar cases against Uber which had been stayed until this case was completed. Popular ride-hailing technological company Uber Technologies Inc (NYSE: UBER) has lost a major case in the United Kingdom over the status of its drivers. According to the ruling by the countryโ€™s Supreme Court, the drivers of the app should be recognized as workers and not independent contractors. Meanwhile, today in the pre-market, Uber stock is 2.12% down, trading at $57.75.Yesterday, the stock closed with a 2.98% fall. The almost five-year…

UK firm launches service for company treasuries to invest in Bitcoin

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BCB Group, a global digital financial services firm, is planning to help corporations navigate cryptocurrencies like Bitcoin (BTC) by launching a dedicated service. According to a Feb. 19 announcement, BCB Group has launched BCB Treasury, a new service designed for corporate treasury departments seeking to get involved in Bitcoin ร  la Tesla.ย  The new service aims to provide a specific solution enabling access to treasury management for companies willing to invest their capital into Bitcoin and other digital assets. With BCB Treasury, executives can enter, hold, manage, and report on…

Congress Brands Robinhood โ€˜Enemy of Peopleโ€™

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Robinhood CEO was met by most of the fury owing to the fact that the app denied retail investors a chance to trade securities amid heightened volatility.ย  The House Financial Services Committee today hosted the GameStop Corp (NYSE: GME) squeeze main participants to unearth what transpired. In attendance were Robinhood CEO Vlad Tenev, Reddit CEO Steve Huffman, Citadel CEO Ken Griffin, and Keith Gill alias the WallStreetBets ring leader. The hearing was entitled โ€œGame Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide.โ€ Notably, the…

Binance Coin Spikes 100% After Threatening Ethereum’s Dominance

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This week, transaction fees on the Ethereum blockchain grew to a level that made the decentralized applications (dapp) operating atop it practically unusable. In some cases, transferring as little as $5 across the second-largest public chain started costing as high as $300. With no choice left, many of the dapp developers decided to run the same operations on a rivaling blockchain network, the Binance Smart Chain, a public ledger that offered to do the same tasks Ethereum does at 99 percent lesser costs. On Wednesday, the BSC blockchain processed about…

Elon Musk Says Teslaโ€™s Mega Bitcoin Purchase Is Not ‘Directly Reflective’ of His Opinion

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Michael Saylor, the CEO of MicroStrategy, is one of those who believes Teslaโ€™s bet on Bitcoin can have a tremendous ripple effect. Elon Musk, the billionaire Chief Executive Officer of the electric automaker Tesla Inc (NASDAQ: TSLA), has defended the firmโ€™s latest Bitcoin (BTC) move while declaring he has little influence over it. Earlier this month, the company declared it has purchased as much as $1.5 billion worth of the digital currency, a move that took the crypto space by surprise. Following this occurrence, Bloomberg interviewed Changpeng Zhao, the CEO…

Ripple Smothered XRP Price, SEC Alleges

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The complaint claims that Ripple knew that its digital coin could be a security offering after receiving legal advice โ€œas early as 2012โ€ but disregarded it. Ripple suppressed and manipulated XRP price, created an information vacuum and deceived XRP investors for years, the SEC has alleged. The first fight in the SEC-Ripple legal battle got off with a hard punch as the United States Securities and Exchange Commission has alleged that executives of the parent company of XRP, Ripple Labs Bradley Garlinghouse and Christian Larsen manipulated XRP price by bolstering…

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The Graph Foundation Scales Up, Now Supporting Polkadot, Solana, Near and Celo

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The Graph Foundation believes in the interoperability of the blockchain and decentralized finance ecosystem. Based on this, the platform is championing a cross-network partnership to unlock the full potentials of this unique feature. The Graph Foundation has announced it will be adding support for four additional blockchains networks including Polkadot, Solana, Near, and Celo. This expansion is a major milestone for the indexing protocol which already has support for both Ethereum and IPFS. The Graph provides the platform for querying data for blockchain services through open APIs called Subgraphs and…

Virgin Galactic (SPCE) Stock Up 1% Now amidst Launch Speculation

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Shares for Virgin Galactic have been fluctuating in the past few weeks which is linked to on-going speculation and rumours about a test launch. Conventional tourism took a major hit last year due to the COVID-19 pandemic. Travel bans and the closure of many tourism-dependent businesses dealt a hard blow to the industry. Not so for the burgeoning space tourism industry. In fact, the last few months of 2020 were a period of exponential growth for the industry. That momentum is set to continue this year. Space tourism pioneer Virgin…

Unido Partners with LGCY to Bring Improved Enterprise Solution on Blockchain

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The strength of the partnership lies in LGCY providing the scalable infrastructure and Unido providing the maneuverable platform for asset management, all for the benefits of both companyโ€™s customers. Cryptocurrency custody service provider Unido has announced its strategic partnership with the LGCY Network, an open-source decentralized blockchain protocol. Per the press release shared with Coinspeaker, the users of the LGCY Network will now be able to utilize Unidoโ€™s secure multi-signature wallet technology. The integration of both companyโ€™s unique technologies is critical at this time when institutional demand for crypto products…