Article: INSIGHT: U.S. cryptocurrency regulatory path appears long and complex

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Todd Ehret, 06 April 2021

Bitcoin, other cryptocurrencies, and essentially all digital assets have surged in price recently amid surging interest by the public, investors of all types, and the financial industry. Despite a steadily growing acceptance and anticipation of a crypto-friendly regulatory environment under the new administration in Washington, the future regulatory framework for digital assets is complex and uncertain. Continue reading “Article: INSIGHT: U.S. cryptocurrency regulatory path appears long and complex”

Article: Deutsche Bank dodges bullets and goes mainstream

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Deutsche Bank dodges bullets and goes mainstream

PATRICK JENKINS , 06 April 2021

It is a striking paradox that postwar Germany has achieved sustained success as an economy, even with a flailing banking sector, headed by the flag-carrying Deutsche Bank, to underpin it. But there are signs the contradiction may be resolving.

Over the past three years, Deutsche has beaten its European rivals in share price terms — sketchy evidence, perhaps, especially as that share price has actually fallen and Deutsche has paid next to no dividends. But it is a notable outperformance nonetheless.
Continue reading “Article: Deutsche Bank dodges bullets and goes mainstream”

Article: Credit Suisse overhauls management as it takes $4.7 billion hit on Archegos

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Credit Suisse overhauls management as it takes $4.7 billion hit on Archegos

Brenna Hughes Neghaiwi, Matt Scuffham, 06 April 2021

ZURICH (Reuters) -Credit Suisse said on Tuesday it will take a 4.4 billion Swiss franc ($4.7 billion) hit from dealings with Archegos Capital Management, prompting it to overhaul the leadership of its investment bank and risk division.

The scandal-hit bank now expects to post a loss for the first quarter of around 900 million Swiss francs. It is also suspending its share buyback plans and cutting its dividend by two thirds. Continue reading “Article: Credit Suisse overhauls management as it takes $4.7 billion hit on Archegos”

Article: Crypto Lobby Forms to Shake Reputation as Criminals’ Currency

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Crypto Lobby Forms to Shake Reputation as Criminals’ Currency

Joe Light, 06 April 2021

Even as cryptocurrencies steadily gain support on Wall Street, they’re still regarded by regulators as a tool for criminals to conceal shady transactions — posing a challenge to the nascent industry as it seeks to win wider respect.

That’s creating a potentially lucrative opportunity for new groups in Washington advocating for digital currencies. Some prominent crypto lobbying organizations say they’ve increased their membership and raised millions of dollars to help improve the industry’s image. Continue reading “Article: Crypto Lobby Forms to Shake Reputation as Criminals’ Currency”

Article: BCH Price Analysis: Consolidation Range Targets Breakout Past $630

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BCH Price Analysis: Consolidation Range Targets Breakout Past $630

Tomiwabold Olajide, 06 April 2021

BCH Price rose over 10% on Monday, settling at $625 as at the time of writing. Bitcoin cash turned into a sideways consolidation in late February after hitting yearly highs at $773. While it’s recovering today, the barrier at $630 was strong and kept the BCH price confined below this level. Thus, it may be too early to call a breakout yet due to the weak upside momentum. Instead, the consolidation may likely extend further for a while. Currently, BCH is trading in the upper part of its consolidation range while targetting a breakout past the $630 barrier. Continue reading “Article: BCH Price Analysis: Consolidation Range Targets Breakout Past $630”

Article: Republicans Slam ‘Hypocritical’ Biden For Funneling $13 Million Through Tax Loopholes

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Republicans Slam ‘Hypocritical’ Biden For Funneling $13 Million Through Tax Loopholes

TYLER DURDEN, 05 April 2021

President Biden has come under fire by House Republicans for ‘hypocritically’ using an IRS loophole to avoid paying taxes on $13 million in income for tax years 2017 and 2018, while slamming wealthy Americans for using similar schemes to minimize their tax burden, according to Fox News.

In a scathing letter from the leader of a House conservative caucus Rep. Jim Banks (R-IN), the Bidens’ used two S-corporations, the CelticCapri Corporation and the Giacoppa Corporation, to funnel proceeds from book royalties and speaking appearances, “avoiding self-employment payroll tax liabilities that would have flowed to America’s Medicare program that provides care to over 60 million seniors.” Continue reading “Article: Republicans Slam ‘Hypocritical’ Biden For Funneling $13 Million Through Tax Loopholes”

Article: Stock Alert: Nano-X Imaging Shares Gains 36% On 510 (K) Clearance For Nanox.ARC

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Stock Alert: Nano-X Imaging Shares Gains 36% On 510 (K) Clearance For Nanox.ARC

RTTNews.com, 05 April 2021

(RTTNews) – Nano-X Imaging Ltd. (NNOX) shares are spiking on Monday morning trade as the medical imaging technology company’s single source Nanox.ARC digital x-ray technology received 510 (K) clearance from the FDA.

The Company expects to start system shipment in the fourth quarter of 2021 and the first quarter of 2022. Continue reading “Article: Stock Alert: Nano-X Imaging Shares Gains 36% On 510 (K) Clearance For Nanox.ARC”

Article: Dollar Death Knell: IMF Introduces World Currency

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Dollar Death Knell: IMF Introduces World Currency

Anthony Migchels, 05 April 2021

Anthony Migchels: “Henry, something big happened last week: the IMF is going to give out loans in SDR. Special Drawing Rights are their currency. By itself, they’re nothing special, but the IMF has always lent in Dollars.

That they are going to print their own currency on a large scale, $650 billion to begin with, is simply monumental. It means that World Currency is starting.

This is EXACTLY what Mark Carney (BoE chief) announced 18 months ago. That the Petrodollar would end ‘in ten years’, and would be replaced with an IMF World Reserve Currency. I reported on it here. There’s Going to be a Gold Standard & It Will Be Disastrous.”

“Make no mistake: if there’s a World Central Bank, and a World Reserve Currency, open World Government is not far away.”

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Article: Electric Car Co.’s $2.4B Deal Was Built On Lies, Investor Says

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Electric Car Co.’s $2.4B Deal Was Built On Lies, Investor Says

Lauren Berg, 05 April 2021

In the midst of its $2.4 billion merger with blank-check company Hennessy Capital, electric car maker Canoo waited until after the market closed to tell investors it was changing its business focus, causing its stock to plummet, according to a proposed class action filed Friday in California federal court.

In December, Los Angeles-based Canoo Holdings Ltd. went public in a merger with Hennessy Capital Acquisition Corp., but didn’t tell investors it was turning its focus away from the plan to sell vehicles through a subscription model and that it was de-emphasizing its engineering services business, according to the complaint filed by investor Justin Kojak. Continue reading “Article: Electric Car Co.’s $2.4B Deal Was Built On Lies, Investor Says”

Article: GameStop shares fall as company looks to cash in on Reddit surge

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GameStop shares fall as company looks to cash in on Reddit surge

Staff and agency, 05 April 2021

Shares in GameStop fell on Monday after the video-game retailer said it may sell up to $1bn (£720m) worth of stock as it tries to make the best of the 900% surge in its shares from a Reddit-driven rally this year.

The company said it would sell up to 3.5m shares and use the proceeds to speed up its shift to e-commerce in an overhaul being led by the billionaire Ryan Cohen, its biggest shareholder and a board member of GameStop. Shares in the company fell sharply in pre-market trading in New York but had recovered by the close to $186.95, a fall of 1.9%. Continue reading “Article: GameStop shares fall as company looks to cash in on Reddit surge”

Article: GME Shares Plunge As Company Moves To Sell 3.5M New Shares

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GME Shares Plunge As Company Moves To Sell 3.5M New Shares

TYLER DURDEN, 05 April 2021

More than 2 months have passed since Robinhood shut off trading in Gamestop while the firm’s shares soared past the $400 mark, marking a historic confrontation between an army of GME-hodling “apes” and hedge funds like Melvin Capital, not to mention the mighty hedge fund-market maker Citadel, that would cement GME’s status as a favorite of the “Wall Street Bets” retail-trading army.

But for the first time since the intense retail interest made GME one of the most closely watched tickers on Wall Street, GameStop announced Monday morning that it would issue up to 3.5M new shares in an at-the-money offering. The proceeds will help GME accelerate its pivot to digital, the company said in a prospectus filed with the SEC. Continue reading “Article: GME Shares Plunge As Company Moves To Sell 3.5M New Shares”

Article: Mirror Trading International Named Biggest Crypto Scam of the Year After Raking in $589 Million – Regulation Bitcoin News

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Mirror Trading International Named Biggest Crypto Scam of the Year After Raking in $589 Million – Regulation Bitcoin News

Mark Viduka, 05 April 2021

Blockchain evaluation agency, Chainalysis’ newest crime report has named Mirror Buying and selling Worldwide (MTI) as the largest cryptocurrency rip-off of 2020. Chainalysis arrived at this conclusion after an investigation discovered that MTI had taken in $589 million from greater than 471,000 deposits. In line with the report, MTI’s haul is considerably greater than that of Forsage and J-enco, the following greatest scams. Each scams raked in lower than $350 million every. Continue reading “Article: Mirror Trading International Named Biggest Crypto Scam of the Year After Raking in $589 Million – Regulation Bitcoin News”

Article: SoftBank pays $2.8B to acquire 40% stake in warehouse automation firm AutoStore

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SoftBank pays $2.8B to acquire 40% stake in warehouse automation firm AutoStore

DUNCAN RILEY, 05 April 2021

SoftBank Group Corp. said today it has invested $2.8 billion to acquire a 40% stake in Norwegian warehouse automation company AutoStore AS.

SoftBank, Japan’s largest telecommunications companies and one of the world’s largest venture capital firms, acquired shares in the company from funds affiliated with Thomas H. Lee Partners L.P. and EQT Private Equity, among other shareholders. According to the Wall Street Journal, the deal values AutoStore at $7.7 billion. Continue reading “Article: SoftBank pays $2.8B to acquire 40% stake in warehouse automation firm AutoStore”

THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?