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Shiba Inu Team Unveils Enhanced SHIB And BONE Burns, What This Means
December 08 2023 - 04:45AM
NEWSBTC
Shibarium’s burning mechanism has been in the limelight of late, especially with the recent record of over 8 billion Shiba Inu tokens burnt in a single day. This burning mechanism seems to have undergone an update, which could further enhance its performance. Shibarium Undergoes Swift Hard Fork A screenshot containing a discord message from DaVinci (a member of the Shiba Inu development team) surfaced online recently. In the message, DaVinci mentioned that Shibarium would undergo a hard fork at Block 1962000. That suggests that the upgrade already took place as there are already over 2 million blocks on the layer-2 network at the time of writing. Meanwhile, the main purpose of this hard fork is to enhance the network’s burning mechanism. This will enable support for multiple burn tokens, with BONE and SHIB (the governance tokens of Shibarium) being the main focus. DaVinci also mentioned to node providers that a Genesis update would be required since it was a hard fork. Further Clarification On What The Hard Fork Entails For Shiba Inu Shibarium had earlier provided clarification of what this new era of the network entails. A blog post published on the Shibarium site mentioned that Shibarium’s burning mechanism will initially be manually managed as part of this upgrade. This is to ensure alignment with the network’s health and sustainability. In this phase, the burn process will be managed by the official deployer. Once that is done, Shibarium will apparently transition to an automated system starting in January. As part of this transition, Shibarium is expected to witness further upgrades in a bid to “enhance efficiency and reliability.” According to the network, the automated burn process “will operate based on predefined rules,” although it didn’t provide further details on this.Node provider NOWNodes noted in a blog post that this upgrade will also facilitate mass adoption for Shibarium. That could explain why there is a need to enhance the burning mechanism as part of the upgrade. Considering that there is a correlation between the transaction volume and token burns, Shibarium needs to be well prepared to handle the number of tokens that need to be burnt following a potential increase in transaction count. The layer-2 network is currently flying high as the total transaction count on it continues to skyrocket. According to data from the Shibarium Explorer, the total transactions on the network stand at over 58 million at the time of writing. Shibarium has surpassed the milestones of 5 million, 10 million, 20 million, and 35 million mark in just about a week. SHIB price reclaims $0.00001 | Source: SHIBUSD on Tradingview.com Featured image from Crypto News, chart from Tradingview.com
https://ih.advfn.com/stock-market/COIN/SHIBUSD/crypto-news/92761156/shiba-inu-team-unveils-enhanced-shib-and-bone-burn
Shiba Inu Burn Rate Rises Rapidly In One Week, What’s Been Driving It?
December 07 2023 - 06:00PM
NEWSBTC
The rise in the Shiba Inu burn rate has no doubt been one of the most notable developments in the community. At the start of the week, the burn rate rose over 7,000,000% after more than 8 billion tokens were burned in a 24-hour period. This trend has not slowed down either given that the burn figures have continued to rise daily. Shiba Inu Burn Surge Continues Earlier in the week when the Shiba Inu burn saw one of its highest daily spikes, the total number of tokens burned had come out to just over 8 billion. At the time, this was a significant figure given that the burn rate had been slowing down over the last year. However, there has been a steady rise in the number of SHIB tokens that are being burned lately, which raises the question of what is driving the burn. in the burn rate following the 8 billion daily burn, the community is back at it again and their zeal has been rewarded once more. On Thursday, the burn tracker Shibburn reported that the 24-hour figure had crossed 10 million once again. This shows a steady recovery from Wednesday’s figures which had tanked significantly. Source: Shibburn As Shibburn data shows, the 10.34 million SHIB that were burned in the last 24 hours amounts to an 803.4% increase in the burn rate compared to the previous day. The majority of the burns have, however, come from a single wallet address. The address sent a little over 10.2 million SHIB to the burn address. This recent spike in the BURN rate has also added to the total amount burned on a weekly basis. The figure comes out to 8.497 billion, which is a 1,969.72% increase from the previous week’s figures. SHIB bulls struggle to maintain control | Source: SHIBUSD on Tradingview.com What Is Driving The SHIB Burn? The most significant burn for the week was the 8.2 billion burn, most of which came from a single address. This address was the ShibaSwap deployer wallet, which meant that the SHIB team was the one burning the tokens.[/b[color=red]]The spike in the burn rate coincides with the increased usage of the Shiba Inu layer 2 blockchain Shibarium, which marked multiple milestones this week. As the usage has risen and more fees were collected on the network, the amount of SHIB to be burned rose drastically. Daily transactions on Shibarium have consistently come out above 7 million this week, bringing the total transactions on the network above 51 million. If this continues, then the burn rate could continue to rise as more usage of the L2 means more fees being burned.[/color] Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet… Featured image from NewsBTC, chart from TradingView.com
https://ih.advfn.com/stock-market/COIN/SHIBUSD/crypto-news/92755161/shiba-inu-burn-rate-rises-rapidly-in-one-week-wha
Crypto: Safe Recovery Hub Revolutionizes Crypto Recovery, Bitcoin Stays Above $43,000, and More
December 08 2023 - 11:56AM
IH Market News
Bitcoin rises moderately with surprising improvement in the US job market
The latest data from the United States job market showed a notable improvement, with the unemployment rate falling to 3.7%, surpassing expectations of around 3.9%. Furthermore, there was a significant increase in non-farm payrolls, reaching 199,000, exceeding the forecast of 180,000. These indicators reflect a strengthening of the job market, an encouraging sign for the health of the American economy. Amid this optimistic economic scenario, Bitcoin (COIN:BTCUSD) recorded a moderate increase of 1.4%, reaching $43,903. Fernando Pereira, an analyst at Bitget, offered his perspective on the technical analysis, noting that “in the very short term, especially on the hourly chart, there is a triangle formation at the top that broke down in BTC. This setup suggests that Bitcoin may retreat to the $42,000.00 range still this week”.
Strategic expansion of Starknet: Token launch for growth and adoption
The Starknet Foundation (COIN:STRKUSD) announced a growth strategy, planning to distribute 1.8 billion STRK tokens for various initiatives. This plan, announced on December 8th, follows the confirmation of an airdrop of STRK tokens. Half of the tokens will be allocated to reward the current and future community, while the other half will serve to offer transaction fee discounts. A specific committee will oversee this distribution. Additionally, 50 million tokens will be used to foster activities in decentralized finance (DeFi) on Starknet, an Ethereum layer-2 network that utilizes a zero-knowledge roll-up scalability solution.
Explosive success of JTO Token after launch on major exchanges
The JTO token of Jito, a liquid staking project on Solana, saw an impressive 80% increase in its value after being listed on renowned exchanges such as Coinbase (NASDAQ:COIN) and Binance. Reaching a peak of $3 and stabilizing at $2.90, JTO achieved a market capitalization of $333 million. This growth follows a generous airdrop of 90 million JTO to early users, encouraging participation in Solana’s DeFi ecosystem. Dan Smith of Blockworks praised the airdrop strategy for its ability to attract new users to cryptocurrency. Jito, built on Solana, offers users rewards for staking with JitoSOL tokens, having already attracted about 75,000 users and locked assets worth $455 million.
Confirmation of token launch by LayerZero after speculation
LayerZero, a blockchain interoperability protocol, officially announced the launch of a native token, after months of intense speculation. The framework for a token had been present since the beginning, as indicated in its code. The project, valuing clarity in communication with the community, plans to launch the token in the first half of 2024, likely through an airdrop to reward early users. The company behind LayerZero recently raised $120 million, valuing itself at $3 billion.
Binance cancels license application in Abu Dhabi focusing on global goals
Binance abandoned its application for an investment management license in Abu Dhabi, considering it irrelevant to its global goals. The exchange is still seeking a license for digital asset custody, but emphasized that the withdrawal does not affect its core operations. CEO Richard Teng clarified that Dubai is Binance’s hub in the Middle East, regardless of the recent $4.3 billion fine in the US. Furthermore, former Binance CEO Chanpeng Zhao is prohibited by a federal judge in Seattle from returning to the United Arab Emirates until his sentencing in the US in February, due to flight risks.
Imminent extradition of Do Kwon to the US after capture in Montenegro
Do Kwon, founder of Terraform Labs, is close to being extradited to the US, as reported by the Wall Street Journal. Arrested in Montenegro, he faces fraud charges in the US and South Korea. The extradition decision, already approved by a Montenegrin court, now depends on Justice Minister Andrej Milovic, with the likelihood of extradition to the US being high.
Launch of Safe Recovery Hub: New cryptocurrency recovery options with Safe and Partners
Safe, a provider of smart wallet infrastructure, is collaborating with Sygnum Bank and CoinCover in the UK to launch the “Safe Recovery Hub,” an innovative cryptocurrency recovery service. This service ranges from self-custody to social recovery, allowing users to optimize recovery methods according to their needs. Users maintain full control, with the option to appoint trusted recoverers. This initiative aims to solve the problem of lost keys, improving digital asset management.
Block introduces Bitkey, a self-custodial Bitcoin wallet available globally
Block (NYSE:SQ), co-founded by Jack Dorsey, launched the self-custodial Bitcoin wallet Bitkey in over 95 countries. Bitkey offers users the ability to control, manage, and store their Bitcoins securely, off exchanges. Designed to be an easy and secure self-custody solution, Bitkey features a three-key security system, with two needed for transactions and security actions. Bitkey, priced at $150, is compatible with Coinbase (NASDAQ:COIN) and Cash App, facilitating the transfer of Bitcoin (COIN:BTCUSD).
Phoenix Group and WhatsMiner sign major cryptocurrency mining deal
The Phoenix Group, a prominent Bitcoin miner in the United Arab Emirates, signed a $380 million contract with WhatsMiner for the acquisition of hydraulic cooling mining equipment. This deal, made soon after the company’s debut on the Abu Dhabi Stock Exchange, includes hydro-cooled miners for high-performance data centers. With an initial purchase of $136 million and an additional option of $246 million, Phoenix positions itself as a leader in efficient and environmentally responsible mining in the Middle East.
El Salvador launches freedom visa program focusing on cryptocurrency investments
El Salvador introduced an innovative visa program, “Embracing El Salvador’s Freedom Visa,” with a budget of $1 million. This program, limited to 1,000 participants annually, aims to attract investors to residency and citizenship through a minimum investment of $1 million in Bitcoin or USDT. Approved applicants can also obtain a Salvadoran passport and citizenship. According to Deputy Foreign Minister Adriana Mira, this initiative is a unique opportunity to contribute to the country’s future. The Ministry of Foreign Affairs anticipates that the program could generate up to $1 billion per year, in partnership with stablecoin company Tether (COIN:USDTUSD). This program is considerably more expensive than similar initiatives in the Caribbean, as indicated by Henley & Partners.
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/92764019/crypto-safe-recovery-hub-revolutionizes-crypto-re
2023-12-04 Agreed on a business partnership with Aplix Co., Ltd. for mutual business expansion.
2023-11-29 Jasmy begins recruiting participating organizations for the release next spring of a carbon credit exchange compatible with Natural Capital Credit Consortium's voluntary credits ~ A
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Click here for related articles in the Nikkan Kogyo Shimbun ?
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2023-11-27 Jasmy develops and provides a new system for a project to promote "tailor-made" medical care using genomic information
~ Utilizes unique Web3 technology and patents to provide a system to more strictly manage sensitive information such as genomic information , In addition, we have realized a new condolence payment system using our own platform and crypto assets ~
2023-11-27 Jasmy, Novaserum, and BioMedica Solutions collaborate to launch a project to promote "tailor-made" medicine using genomic information
~ Promote genome analysis with stricter management and gene Supporting the development of cancer treatment “CTC neoantigen dendritic cell therapy” by identifying mutations
https://www.jasmy.co.jp/
Steve Jobs signed $4.01 check draws bid of over $36,000 at auction (Update: Sold for $46,063)
Wednesday, December 6, 2023 4:23 pm
A $4.01 check that Apple co-founder Steve Jobs wrote to Radio Shack in 1976 was up for auction on Wednesday at Boston-based RR Auction with a bid of more than $36,000 with a few hours left to go.
Edward Helmore for The Guardian:
The signed check, drawn against an “Apple Computer Company” account at a Wells Fargo Bank branch in Los Altos, California, joins a hot market for Jobs’ signature and memorabilia.
Last year, a $9.18 Apple Computer cheque signed by Jobs in 1976 sold for $55,000; another from the same year, for $13.86 to Elmar Electronics, sold in March for $37,564.
The Apple inventor’s signature on a job application for employment as an “electronics tech or design engineer” from 1973, classified as Jobs’ earliest known signature by the auctioneer, sold in 2018 for $174,757.
A signature from three years later, when Jobs was 21, that appeared on an original Apple founding contract signed by Jobs, Steve Wozniak and Ronald Wayne was sold by Sotheby’s in December 2011 for $1,594,500.
MacDailyNews Note: With just over three hours left in the auction, the current bid is at $36,850 (27 bids) and the next bid is pegged at $40,535 and could increase from there as the auction nears closing.
(Update, December 7, 9:36am ET: The check sold for $46,063.)
See also: Steve Jobs signed check sells for $106,985 at auction – May 11, 2023
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https://macdailynews.com/2023/12/06/steve-jobs-signed-4-01-check-draws-bid-of-over-36000-at-auction/
U.S. senator: Governments are spying on Apple, Google users via push notifications
Wednesday, December 6, 2023 9:12 am
3 Comments
A U.S. senator warned on Wednesday that unidentified governments are surveilling smartphone users via their apps’ push notifications.
Raphael Satter for Reuters:
In a letter to the Department of Justice, Senator Ron Wyden said foreign officials were demanding the data from Alphabet’s Google and Apple. Although details were sparse, the letter lays out yet another path by which governments can track smartphones.
Apps of all kinds rely on push notifications to alert smartphone users to incoming messages, breaking news, and other updates… That gives the two companies unique insight into the traffic flowing from those apps to their users, and in turn puts them “in a unique position to facilitate government surveillance of how users are using particular apps,” Wyden said. He asked the Department of Justice to “repeal or modify any policies” that hindered public discussions of push notification spying.
In a statement, Apple said that Wyden’s letter gave them the opening they needed to share more details with the public about how governments monitored push notifications. “In this case, the federal government prohibited us from sharing any information,” the company said in a statement. “Now that this method has become public we are updating our transparency reporting to detail these kinds of requests.”
The Department of Justice did not return messages seeking comment on the push notification surveillance or whether it had prevented Apple of Google from talking about it.
Wyden’s letter cited a “tip” as the source of the information about the surveillance. His staff did not elaborate on the tip, but a source familiar with the matter confirmed that both foreign and U.S. government agencies have been asking Apple and Google for metadata related to push notifications to, for example, help tie anonymous users of messaging apps to specific Apple or Google accounts.
The source declined to identify the foreign governments involved in making the requests but described them as democracies allied to the United States.
MacDailyNews Take: Reminds us of a song lyric:
Livin’ in the new world
With an old soul
These rich men north of Richmond
Lord knows they all just wanna have total control
Wanna know what you think, wanna know what you do
And they don’t think you know, but I know that you do…
— Oliver Anthony, “Rich Men North of Richmond”
We very much look forward to Apple sharing information with the public about how governments are monitoring users’ push notifications.
The December 6, 2023 letter from Oregon Senator Ron Wyden asking the Department of Justice to lift any existing restrictions around discussions of push notification surveillance, verbatim:
December 6, 2023
The Honorable Merrick B. Garland
Attorney General
U.S. Department of Justice
950 Pennsylvania Avenue, NW
Washington, DC 20530-0001
Dear Attorney General Garland:
I write to urge the Department of Justice (DOJ) to permit Apple and Google to inform their customers and the general public about demands for smartphone app notification records.
In the spring of 2022, my office received a tip that government agencies in foreign countries were demanding smartphone “push” notification records from Google and Apple. My staff have been investigating this tip for the past year, which included contacting Apple and Google. In response to that query, the companies told my staff that information about this practice is restricted from public release by the government.
Push notifications are the instant alerts delivered to smartphone users by apps, such as a notification about a new text message or a news update. They aren’t sent directly from the app provider to users’ smartphones. Instead, they pass through a kind of digital post office run by the phone’s operating system provider. For iPhones, this service is provided by Apple’s Push Notification Service; for Android phones, it’s Google’s Firebase Cloud Messaging. These services ensure timely and efficient delivery of notifications, but this also means that Apple and Google serve as intermediaries in the transmission process.
As with all of the other information these companies store for or about their users, because Apple and Google deliver push notification data, they can be secretly compelled by governments to hand over this information. Importantly, app developers don’t have many options; if they want their apps to reliably deliver push notifications on these platforms, they must use the service provided by Apple or Google, respectively. Consequently, Apple and Google are in a unique position to facilitate government surveillance of how users are using particular apps. The data these two companies receive includes metadata, detailing which app received a notification and when, as well as the phone and associated Apple or Google account to which that notification was intended to be delivered. In certain instances, they also might also receive unencrypted content, which could range from backend directives for the app to the actual text displayed to a user in an app notification.
Apple and Google should be permitted to be transparent about the legal demands they receive, particularly from foreign governments, just as the companies regularly notify users about other types of government demands for data. These companies should be permitted to generally reveal whether they have been compelled to facilitate this surveillance practice, to publish aggregate statistics about the number of demands they receive, and unless temporarily gagged by a court, to notify specific customers about demands for their data. I would ask that the DOJ repeal or modify any policies that impede this transparency.
Thank you for your attention to this pressing matter. If you have any questions or require clarification, please contact Chris Soghoian in my office.
Sincerely,
Ron Wyden
United States Senator
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https://macdailynews.com/2023/12/06/u-s-senator-governments-are-spying-on-apple-google-users-via-push-notifications/
Apple officially warns of ‘push notification spying’ by governments
Thursday, December 7, 2023 9:34 am
4 Comments
https://macdailynews.com/2023/12/07/apple-officially-warns-of-push-notification-spying-by-governments/#google_vignette
Apple to move key iPad engineering resources to Vietnam strengthening alternative manufacturing of China
Friday, December 8, 2023 8:59 am
Apple is for the first time allocating product development resources for the iPad to Vietnam, a major step toward strengthening the Southeast Asian country’s position as an alternative manufacturing hub outside of China, Nikkei Asia reports citing “sources briefed on the matter.”
Cheng Ting-Fang and Lauly Li for Nikkei Asia:
Apple is working with China’s BYD, a key iPad assembler, to move new product introduction (NPI) resources to Vietnam. NPI involves a tech company like Apple collaborating with suppliers on the design and development of new products to make sure the blueprints are doable. This is the first time Apple has shifted NPI resources to Vietnam for such a core device.
Engineering verification for test production of an iPad model will start around mid-February next year, sources told Nikkei Asia. The model will be available in the second half of next year.
BYD was also the first Apple supplier to help the U.S. tech titan shift iPad assembly for the first time to Vietnam in 2022… This shift of NPI engineering resources is focused on entry-level models rather than the premium iPad Pro… Apple also plans to send some NPI processes for the iPhone to India, Nikkei Asia reported earlier.
MacDailyNews Take: The more supply chain diversification Apple can achieve outside of CCP-controlled China, the better.
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https://macdailynews.com/2023/12/08/apple-to-move-key-ipad-engineering-resources-to-vietnam-strengthening-alternative-manufacturing-of-china/
Apple Boosts Vietnam Production, Broadcom Revenue Miss, Stellantis Job Cuts – Latest Updates
December 08 2023 - 06:23AM
IH Market News
"Apple (NASDAQ:AAPL) – Apple is shifting product development resources to Vietnam in partnership with China’s iPad maker BYD. This marks Apple’s first move into Vietnam for a major device, with a planned release for the second half of next year. In India, Apple and its suppliers intend to produce over 50 million iPhones annually over the next two to three years, with plans to manufacture tens of millions more units after that period, as reported by the Wall Street Journal on Thursday. Regarding data breaches in the U.S., Apple revealed in a study that cases have increased by 20% in the first nine months of 2023 compared to 2022."
U.S. index futures showed minimal changes in the pre-market this Friday, as investors maintained a cautious stance while awaiting the release of a crucial report on employment in the U.S.
As of 06:01 AM, Dow Jones futures (DOWI:DJI) rose by 28 points, or 0.08%. S&P 500 futures increased by 0.06%, and Nasdaq-100 futures fell by 0.02%. The yield rate of 10-year Treasury bonds was at 4.182%.
In the commodities market, January’s West Texas Intermediate crude oil rose by 1.66%, to $70.49 per barrel. Brent crude oil for February increased by 1.74%, reaching around $75.34 per barrel. Iron ore with a concentration of 62%, traded on the Dalian exchange, rose by 2.39%, to $135.34 per ton.
On this Friday’s economic agenda, investors are following the 08:30 AM release of the number of jobs created or lost in the economy (payroll) and the unemployment rate for November. At 10:00 AM, the preliminary reading of the December Michigan/Reuters consumer sentiment index is expected. At 13:00 PM, the Baker Hughes Rig Count will be announced.
European markets are on the rise, primarily driven by the luxury and energy sectors. This trend is a response to the recent reduction in German inflation and the anticipation of an important report on employment in the United States, which may confirm predictions of a peak in global interest rates.
Meanwhile, Asian stock markets showed mixed performance. In Shanghai, there was a slight increase, but in Tokyo, the market fell by more than 1.5%, influenced by the strengthening of the yen, which negatively affected Japanese exporters. There are also speculations about possible adjustments in the monetary policy of the Bank of Japan.
The Shanghai SE index in China closed with a modest increase of 0.11%, while Tokyo’s Nikkei index suffered a drop of 1.68%, hampered by the strength of the yen and the downward revision of Japan’s economic growth in the third quarter. Among the most affected stocks were Toyota Industries, Toyota Tsusho, and Ajinomoto. Other important indices also showed variations, with Hong Kong’s Hang Seng Index falling by 0.07%, South Korea’s Kospi rising by 1.03%, and Australia’s ASX 200 increasing by 0.30%.
U.S. stocks performed solidly on Thursday, with the Nasdaq leading the recovery after an earlier dip. The Dow Jones rose 0.17% to 36,117.38 points, the S&P 500 gained 0.80% to 4,585.59 points, and the Nasdaq increased by 1.37% to 14,339.99 points. Optimism about interest rates and the job report boosted the market. Semiconductor and airline sectors stood out, while gold and oil stocks saw declines.
For corporate earnings on Friday, investors will be looking at reports from Hello Group (NASDAQ:MOMO) and Johnson Outdoors (NASDAQ:JOUT).
Wall Street corporate highlights for today
Apple (NASDAQ:AAPL) – Apple is shifting product development resources to Vietnam in partnership with China’s iPad maker BYD. This marks Apple’s first move into Vietnam for a major device, with a planned release for the second half of next year. In India, Apple and its suppliers intend to produce over 50 million iPhones annually over the next two to three years, with plans to manufacture tens of millions more units after that period, as reported by the Wall Street Journal on Thursday. Regarding data breaches in the U.S., Apple revealed in a study that cases have increased by 20% in the first nine months of 2023 compared to 2022.
Broadcom (NASDAQ:AVGO) – The chip manufacturer reported fiscal fourth-quarter financial results that fell short of expectations. The company recorded revenues of $9.3 billion, while analysts had forecast $9.41 billion, according to LSEG, formerly known as Refinitiv. Furthermore, Broadcom issued conservative projections, anticipating annual revenue of $50 billion, in contrast to analysts’ expectations of $52.2 billion.
Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) – TSMC reported a 7.5% drop in revenue for November, totaling NT$206 billion ($6.6 billion). For the first 11 months combined, revenue fell 4.1% year-over-year. Despite expectations of a rebound, uncertainties around China and the slowing economy continue to affect the global chip market.
Micron Technology (NASDAQ:MU) – Micron Technology has signed a union agreement for the construction of a $15 billion chip factory in Boise, Idaho. This agreement could give the company an edge in competing for federal funds under the Chips Act. The Commerce Department has expressed a preference for applicants with unionized construction agreements. Micron is also investing up to $100 billion in New York State over the next two decades, following the same union agreement model.
DocuSign (NASDAQ:DOCU) – Shares of DocuSign fell 0.9% following the release of the electronic signature tool provider’s third-quarter results. The company reported an adjusted earnings per share that beat analysts’ estimates by 16 cents, according to LSEG. Revenue reached $700 million, slightly above the $690 million analysts had expected. Additionally, the company issued revenue outlook for the fourth quarter in the range of $696 million to $700 million, slightly above the $694 million forecast by analysts, as reported by LSEG.
HashiCorp (NASDAQ:HCP) – Shares of the software company fell 20.9% in Friday’s pre-market trading after quarterly results were announced. HashiCorp reported an adjusted earnings of 3 cents per share in the third quarter, generating revenue of $146 million. This surpassed analysts’ expectations, who had predicted a loss of 4 cents per share with revenue of $143 million.
Amazon (NASDAQ:AMZN) – Starting mid-January, the Venmo payment option will no longer be available on Amazon.com. Amazon introduced this option last year, allowing users to add their Venmo accounts to their Amazon profiles. However, the option will be deactivated on January 10. Customers will still be able to use other payment methods, such as debit and credit cards.
UPS (NYSE:UPS) – The Teamsters union, representing UPS workers in the U.S., plans to respond to the firing of 35 newly unionized employees with charges of unfair labor practices and a possible strike. UPS claims staff adjustments, denying unfair practices. The union threatens a strike if there’s no resolution. The contract with UPS remains intact.
FedEx (NYSE:FDX) – FedEx issued a security alert to its contractors, emphasizing the importance of driver safety and vehicle vigilance during the delivery season, due to an increase in illegal activities. The alert included safety tips and highlighted concerns about thefts and robberies reported on social media and TV.
Lululemon (NASDAQ:LULU) – The sportswear company presented a lower-than-expected sales forecast for the holiday period. Reported revenue reached $2.2 billion, which was in line with estimates, at $2.19 billion, according to LSEG.
Levi Strauss (NYSE:LEVI) – Levi Strauss CEO Chip Bergh will step down in January, passing responsibilities to his successor, Michelle Gass. The power transition is scheduled for January 29, while Bergh’s official retirement is on April 26. Until then, he will continue as executive vice chairman of the board and serve as an advisor until the end of the fiscal year.
RH (NYSE:RH) – The home furnishings retailer reported quarterly revenue of $751 million, which fell below analysts’ expectations of $757 million, according to LSEG. Additionally, the company revised its revenue projections downward, now forecasting a range between $3.06 billion and $3.08 billion, while analysts were expecting $3.08 billion.
McDonald’s (NYSE:MCD) – McDonald’s will launch the concept store “CosMc’s,” centered on cold beverages, starting in Bolingbrook, Illinois, with about 10 pilot stores planned mainly in Texas by the end of 2024. McDonald’s will evaluate the results for a year, also testing new service and payment options. In other news, the SDA union in Australia is suing McDonald’s local unit, alleging the chain underpaid about 25,000 managers and supervisors over six years, seeking $66.13 million in back pay. McDonald’s will respond to the allegations at the appropriate time.
UBS (NYSE:UBS) – UBS officially initiated the merger process with Credit Suisse, marking a significant step in the first merger of two globally systemic important banks. The merger, subject to regulatory approvals, is scheduled to occur in 2024, ending Credit Suisse’s independence. UBS anticipates synergies in 2025-2026.
JPMorgan Chase (NYSE:JPM) – JP Morgan Wealth Management created a new Midwest U.S. regional division, led by Beth Brown, to enhance financial advisory services in bank branches. The reorganization aims to expand wealth management for retail clients, boosting resources for financial advisors. The firm now has four branch-based advisor divisions, part of its efforts to invest in and support its financial advisors.
Blackstone (NYSE:BX) – Blackstone and Digital Realty will establish a joint venture to invest $7 billion in developing 10 data centers in Frankfurt, Paris, and Northern Virginia. Blackstone will acquire 80% of the joint venture for about $700 million, while Digital Realty will retain 20%. The joint venture’s completion is anticipated for the first half of 2024. Demand for data centers remains strong as more companies move to the cloud.
HSBC (NYSE:HSBC) – HSBC in Hong Kong is expanding its parental leave, extending maternity leave from 16 to 20 weeks and leave for new fathers or secondary caregivers from 10 to 40 days, starting January 1. The move aims to meet employees’ needs for more flexibility in caring for their families.
Tesla (NASDAQ:TSLA) – Tesla lost a legal battle with the Swedish postal service, with Nordic unions strengthening their opposition. A Swedish court ruled that PostNord does not need to deliver plates to Tesla for the time being. The company faces increasing pressure in the region due to its refusal to negotiate collectively with IF Metall. In other news, Thailand’s Prime Minister Srettha Thavisin showcased industrial areas to Tesla executives seeking investments. Thailand aims to convert a third of its annual vehicle production to electric by 2030, with subsidies and tax breaks to attract manufacturers.
General Motors (NYSE:GM) – General Motors and Autocar Industries are collaborating to develop heavy-duty vehicles powered by GM’s hydrogen fuel cells. The first zero-emission vehicles are expected in 2026, covering various applications such as dump trucks and road maintenance vehicles. Hydrogen is a practical alternative for heavy-duty vehicles due to its longer range and faster refueling times. Additionally, GM, under the leadership of Mary Barra, is revoking its remote work policy, requiring employees to return to the office three days a week starting in January 2024. The move aims to meet business needs and maintain corporate culture.
Stellantis (NYSE:STLA) – Stellantis is cutting jobs at Jeep factories in the U.S. due to California’s emission regulations. The layoffs will affect Detroit and Toledo plants starting February 5. Additionally, Stellantis plans to incorporate swappable battery technology into its electric vehicle fleet in partnership with Ample. EV owners will be able to swap depleted batteries for charged ones in minutes at Ample stations, starting in Spain in 2024 with 100 Fiat 500e models.
Boeing (NYSE:BA) – Boeing plans to increase its 737 jet production to 42 per month by February 2024, two months later than originally planned, due to supply chain issues and delays caused by a supplier error. The pre-pandemic goal of 57.7 aircraft per month will be achieved by October 2025. Additionally, Boeing is in advanced negotiations to sell about 80 787 Dreamliner jets to Thai Airways, outpacing Airbus in a contest for the Thai airline’s fleet renewal. Financial details were not disclosed.
American Airlines (NASDAQ:AAL) – American Airlines appealed to a U.S. appeals court to overturn a decision that found its partnership with JetBlue (NASDAQ:JBLU) anti-competitive. American Airlines argues that the ruling threatens other collaborations between competitors.
Palantir Technologies (NYSE:PLTR) – Palantir Technologies is offering immediate jobs to 180 students feeling insecure due to rising anti-Semitism on university campuses. This initiative comes after university leaders faced criticism for inadequate responses to hostility against Jewish students.
Duke Energy (NYSE:DUK) – CATL, the Chinese battery giant, responded to Duke Energy in the U.S., stating that security threat allegations are false. CATL assures it does not collect, sell, or share data in the U.S. and its products have undergone rigorous security assessments. Duke Energy disconnected CATL batteries due to concerns over its ties with the Chinese Communist Party.
Canadian Solar (NASDAQ:CSIQ) – Canadian Solar will provide 500 MW of battery storage technology for the Coalburn 1 project in the UK, in partnership with Copenhagen Infrastructure. The project will support grid stability during peak consumption times.
ArcelorMittal (NYSE:MT) – ArcelorMittal sold its steel and mining operation in Temirtau to Kazakhstan’s state investment fund for $286 million, including $700 million in intragroup debt payment. The sale will negatively impact the company’s equity by about $800 million.
Dish Network (NASDAQ:DISH), EchoStar (NASDAQ:SATS) – The FCC approved the merger between Dish Network and satellite operator EchoStar, consolidating Charlie Ergen’s telecommunications empire. This merger aims to compete with major U.S. carriers.
Take-Two Interactive (NASDAQ:TTWO) – Take-Two faced a downgrade amid uncertainty over the release of Grand Theft Auto VI. An analyst from BofA Securities downgraded the stock from Buy to Neutral due to Rockstar Games’ history of delays.
DraftKings (NASDAQ:DKNG) – DraftKings is facing a class action alleging deceptive advertising of a $1,000 bet bonus offer. The Public Health Advocacy Institute claims the qualification terms are too burdensome, misleading customers about obtaining the bonus.
Flutter Entertainment – Gambling group Flutter Entertainment plans to list its ordinary shares on the New York Stock Exchange on January 29, simultaneously canceling its secondary listing in Dublin. Flutter will be removed from the EUROSTOXX index starting December 18.
Bain Capital (NYSE:BCSF) – Bain Capital is set to gain over ten times its investment in Cerevel Therapeutics (NASDAQ:CERE) following the sale of the company to AbbVie (NYSE:ABBV) for $8.7 billion. Bain’s 36.5% stake in Cerevel is now worth approximately $2.7 billion.
AbbVie (NYSE:ABBV) – AbbVie plans to focus on smaller deals after its recent multi-billion dollar acquisitions of Cerevel Therapeutics (NASDAQ:CERE) and ImmunoGen (NASDAQ:IMGN). The company expects to return to robust growth by 2025 and is confident the FTC will approve the deal.
Fresenius Medical Care (NYSE:FMS) – Fresenius Medical Care revealed that data, including medical records of 500,000 patients and former patients, was stolen from its U.S. subsidiary’s data warehouse. The incident affected patients, former patients, guarantors, and employees across various locations in the U.S. and four countries.
https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/92761825/apple-boosts-vietnam-production-broadcom-revenue
Stablecoins are part of the future of money – and they’re already here
TL;DR: Americans’ #1 objection to using cash in the current financial system is that there are too many fees to access and move their money. Stablecoins offer consumers all the benefits of cash without the drawbacks, including being cheaper and faster to move. They’re a big part of the future of money – and they’re already helping to update the system. As their importance grows, so does the urgency for clear stablecoin regulation.
By Coinbase Policy, December 4, 2023
https://www.coinbase.com/blog/stablecoins-are-part-of-the-future-of-money-and-theyre-already-here
money is now as easy as sending a text
Coinbase Wallet is introducing new ways to make sending money easier, cheaper, and faster. Users can now send money on any platform that they can share a link — including messaging apps like WhatsApp, iMessage, Telegram, and via popular social media apps, email, and more.
By Chintan Turakhia Product, December 5, 2023
https://www.coinbase.com/blog/with-coinbase-wallet-sending-money-is-now-as-easy-as-sending-a-text
Detecting Fraudulent Transactions: Coinbase Scalable Blockchain Address Risk Scoring System
Tl;dr: Coinbase introduces an innovative risk-scoring system to generate risk score of blockchain addresses, using machine learning to predict potential fraudulent transactions and provide extended protection for users.
By Ayush Agarwal Engineering, December 6, 2023, 4min read time
https://www.coinbase.com/blog/detecting-fraudulent-transactions-coinbase-scalable-blockchain-address-risk
Very interesting:
"Shiba Inu achieved a major milestone recently after the team performed its first-ever SHIB burn powered by Shibarium, the cryptocurrency’s L2 scaling solution.
Shiba Inu Team Burns 8.24B SHIB
As reported earlier, the Shiba Inu team burned 8.24 billion SHIB tokens worth $75,412. The hefty incineration substantially increased Shiba Inu’s burn rate to a whopping 1548111.1%.
Notably, the Shiba Inu team conducted its first-ever Shibarium-powered burn following a spike in the network’s daily transactions.
It is worth mentioning that Shibarium has been processing over 5 million transactions daily since December 1. Interestingly, Shibarium’s daily transaction spiked to a whopping 7.84 million on December 3 prior to the hefty burn.
According to data from Shibariumscan, the daily transaction count surged to a massive 7.86 million yesterday, bringing the network’s total transaction to a hefty 43.51 million.
Shiba Inu Moving Closer to a Massive SHIB Burn
Commenting on the development, Shiba Inu said it is moving closer to a massive burn following a surge in Shibarium transaction volume.
"It added that the recent spike in transaction volume on Shibarium resulted in thousands of BONE tokens spent on transaction fees as part of the SRC-20 minting process.
Despite keeping transaction fees to less than a penny, the Shiba Inu team could still burn over $75K worth of SHIB via fees obtained from Shibarium-related transactions.
Notably, the team specified in the original Shibarium document that it would buy and burn SHIB from fees obtained on the network. Per the team, 70% of Shibarium fees would be used to buy back and burn SHIB.
However, Shibarium-powered SHIB burn will be executed after the network has accumulated $25,000 worth of BONE in transaction fees. With the recent spike in Shibarium transaction volume, the team executed its first-ever Shibarium-powered SHIB burn sooner than expected.
Consequently, experts are speculating that the massive surge in Shibarium’s daily transaction volume could see the team burn between 5 trillion and 20 trillion SHIB tokens monthly.
At press time, a total of 410,671,682,564,412 (410.67 trillion) SHIB have been incinerated from Shiba Inu’s circulating supply. However, the daily burn rate was down 99.99% in the hour leading up to press time. "
https://thecryptobasic.com/2023/12/06/shiba-inu-says-it-is-moving-closer-to-a-massive-shib-burn/
Crypto This Tuesday: BlackRock Receives $100,000 for Bitcoin ETF, Robinhood’s Trading Volume Grows 75%, and More
December 05 2023 - 01:39PM
Rise of bitcoin and prospects
Bloomberg suggests that Bitcoin’s recent surpassing of the $42,000 mark signals the beginning of a possible “super cycle” that could push its value beyond $500,000. This phenomenon is interpreted as a harbinger of significant transformations in the global financial system. The expectation surrounding the approval of a Bitcoin investment fund (ETF) in the United States is one of the factors fueling this rise. Eric Balchunas from Bloomberg believes there is a 90% chance of this ETF being approved by January 2024. Regarding the recent market behavior, Fernando Pereira, an analyst at Bitget, observed that after a period of trading accumulation in November in the $37,000 range, there was intensive Bitcoin (COIN:BTCUSD) buying by purchasers, depleting the available supply at this level. “After accumulating trades throughout November in the $37,000 range, Bitcoin buyers purchased all the available supply in this region and are accumulating until a new resistance zone appears and the number of bitcoins offered increases. In my analysis, I understand that the region between $43k and $45.5k will have a supply strong enough to stop the rise for some time. I believe that should be the peak of 2023,” said Pereira.
BlackRock receives $100,000 from investor for Bitcoin fund
BlackRock (NYSE:BLK) obtained an initial capital investment of $100,000 for its proposed Bitcoin exchange-traded fund (ETF), as revealed in a filing with the U.S. Securities and Exchange Commission (SEC). The investor committed to purchasing $100,000 in shares on October 27, 2023, receiving 4,000 shares at a unit price of $25.00 on the same day. This initial capital is essential for funding the underlying creation units of the ETF, enabling the trading of the shares on the open market.
Phoenix Group shares soar in Abu Dhabi Stock Exchange debut
On its first trading day on the Abu Dhabi Securities Exchange, shares of Phoenix Group, specializing in cryptocurrency mining, saw a significant increase of 35%, reaching approximately $0.55 (2.03 dirhams). Initially offered at 1.50 dirhams in the November IPO, which raised 1.36 billion dirhams (about $368 million), the shares of the United Arab Emirates-based company surged 50%, reaching 2.25 dirhams. The IPO attracted demand 33 times greater than the supply. Phoenix Group offers cryptocurrency mining and hosting services and operates the M2 exchange, supported by its Ethereum token, MMX. Recently, the International Holding Company acquired 10% of Phoenix Group.
Robinhood registers a 75% increase in cryptocurrency trading volume in November
Robinhood (NASDAQ:HOOD) reported a remarkable 75% increase in cryptocurrency trading volume in November compared to October, according to a recent document submitted to the U.S. Securities and Exchange Commission (SEC). This significant increase in trading activity marks a notable shift in the platform’s recent performance, indicating renewed interest from Robinhood users in cryptocurrency trading.
Ark Invest sells more Coinbase shares and increases stake in Robinhood
Ark Invest, led by Cathie Wood, sold more than $1.4 million in Coinbase (NASDAQ:COIN) shares on Monday, transferring 10,218 COIN from two of its funds. This sale follows last week’s movement, when Ark sold $15 million in Coinbase shares during the period when COIN was on the rise. Coinbase’s shares are currently at $138.05, up about 70% over the past month and 286% year-to-date. Additionally, Ark Invest acquired more Robinhood (NASDAQ:HOOD) shares, adding to the $3 million bought the previous week, coinciding with the launch of the stock trading app in the United Kingdom.
Large Ether holder inactive for five years transfers $90 million to Kraken exchange
A large Ether (COIN:ETHUSD) holder, who had been inactive for five years, transferred nearly $90 million in tokens to the cryptocurrency exchange Kraken. The “whale” deposited 39,260 Ether in Kraken after receiving 47,260 Ether from a transaction in 2017. This movement may indicate an intention to sell or convert the tokens, increasing sell pressure in the market. Kraken has a market depth available of over $5 million, meaning a transaction of this size could significantly impact the market.
U.S. cryptocurrency industry spends record on lobbying in 2023
The U.S. cryptocurrency industry spent a staggering $18.96 million on federal lobbying in the first three quarters of 2023, surpassing the $16.1 million spent in the same period of 2022. Coinbase (NASDAQ:COIN) led the spending with $2.16 million, followed by prominent companies like Foris DAX, operator of Crypto.com, the Blockchain Association, and Binance Holdings.
Neutron acquires 25% of Confio in strategy to boost CosmWasm
Neutron, a smart contract platform on Cosmos, bought 25% of Confio, developer of CosmWasm. The investment, whose value was not disclosed, aims to promote CosmWasm and improve its technology in collaboration with Neutron, focusing on web3 areas such as zero-knowledge proofs. The ultimate goal is to establish CosmWasm as an alternative to the Ethereum Virtual Machine. This follows Neutron’s $10 million fundraising in June 2023, raising its current valuation to over $670 million since the mainnet launch, along with the adoption of the Cosmos Hub’s replicated security.
Hedera Blockchain and UN launch solution for carbon market
The UN introduced the Guardian and Managed Guardian Service, a solution for measurement, reporting, and verification in the carbon market, powered by the Hedera blockchain and the HBAR token (COIN:HBARUSD). This innovation aims to increase transparency and accessibility to carbon market data, eliminating centralized intermediaries. It’s a significant step in digitalizing and streamlining climate change mitigation methodologies. The UN is increasingly involved in blockchain-related collaborations, including the Algorand Blockchain Academy in partnership with the Algorand Foundation (COIN:ALGOUSD).
Societe Generale issues first digital green bond on Ethereum Blockchain
Societe Generale (EU:GLE), one of France’s leading banks, achieved a milestone by issuing its first digital green bond on the Ethereum blockchain. Valued at 10 million euros and maturing in three years, this bond symbolizes the bank’s commitment to environmentally responsible financial practices. Facilitated by its subsidiary Forge, the green bond aims to finance sustainable projects and businesses. This pioneering move also highlights the bank’s adoption of the Ethereum blockchain to increase transparency and efficiency, especially in environmental, social, and governance (ESG) matters, providing open data on the carbon footprint of bonds.
Security vulnerability affects NFT platforms, including OpenSea and Coinbase NFT
Thirdweb, a Web3 development platform, disclosed a critical vulnerability in an open-source code library impacting several NFT collections using its smart contracts. While the company did not specify the affected collections, OpenSea and Coinbase NFT confirmed that some of their collections were hit. They are working to mitigate security issues and migrate to contracts without known vulnerabilities, like DropERC20, ERC721, and ERC1155. The vulnerability has not yet been exploited in projects using Thirdweb’s contracts, but precautionary measures are being taken.
Riot Blockchain makes largest purchase of Bitcoin miners in company history
Riot Blockchain (NASDAQ:RIOT) announced the purchase of 66,560 Bitcoin miners from MicroBT, totaling $290.5 million. This purchase is an expansion of Riot’s previous agreement with MicroBT and includes miners with a hash rate of 250 TH/s. The deployment will begin in the first quarter of 2024 and extend through the second half of 2024, with a goal of reaching a hash rate capacity of 38 EH/s when all machines are operational. The CEO of Riot highlighted that this is the largest hash rate order in the company’s history.
PYTH governance tokens launched by Pyth with support from major investors
Pyth, a low-latency Oracle service for blockchains, released PYTH governance tokens to over 90,000 wallets. The initiative, aiming to decentralize the platform’s governance, was driven by a funding round with participation from key industry players, such as Castle Island Ventures and Multicoin Capital. Pyth seeks to improve the efficiency and accuracy of data in oracles, differentiating itself from competitors like Chainlink (COIN:LINKUSD).
Curvance raises $3.6 million in initial funding with support from major DeFi names
Curvance, an emerging platform in the DeFi sector, secured an initial investment of $3.6 million, backed by over 20 organizations and renowned developers, including Offchain Labs (Arbitrum), Wormhole, and Sandeep Nailwal (co-founder of Polygon). Described as an “everything app” for DeFi lending, the project aims to overcome barriers between chains and protocols, supporting Ethereum and various layer 2s. Curvance plans to use the funds to expand operations, enhance security, and recruit talent, with the goal of facilitating access to DeFi.
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/92730938/crypto-this-tuesday-blackrock-receives-100-000-f
Foxconn resumes iPhone assembly at Indian factory after Cyclone Michaung pause
Tuesday, December 5, 2023 12:05 pm
Major Apple assembler Foxconn resumed operations on Tuesday at its Indian facility that makes Apple iPhones following weather disruptions due to Cyclone Michaun, two sources familiar with the matter told Reuters.
Foxconn and Pegatron had on Monday halted production of iPhones at their factories near Chennai because of heavy rain as a severe cyclone neared.
MacDailyNews Take: Thoughts and prayers for all of those affected by Cyclone Michaun.
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https://macdailynews.com/2023/12/05/foxconn-resumes-iphone-assembly-at-indian-factory-after-cyclone-michaung-pause/
Carjackers reject Android phone for not being a real iPhone
Monday, December 4, 2023 3:37 pm
6 Comments
After working into the early morning hours, a man in Northwest D.C. was approached by two armed men who proceeded to take everything he had in his pockets — except his Android phone, instead preferring a real iPhone — and the truck he was driving.
Carl Willis for ABC 7 Washington D.C.:
After working into the early morning hours, a woman who asked not to be identified said her husband insisted he meet her outside of their apartment in Northwest D.C. and go park the car.
“As soon as he parked the car two masked gentlemen came up to him, armed,” she said. “They robbed him, took everything he had in his pockets, took the keys to my truck and got in and pulled off.
She said the robbers were bold taking her husband’s phone, but then giving it back because it wasn’t to their liking.
“They basically looked at that phone and was like ‘Oh, that’s an Android? We don’t want this. I thought it was an iPhone,'” she said.
MacDailyNews Take: Even D.C. criminals don’t want pretend iPhones.
See also: Apple iPhone owners are 7.4 times more valuable than Android users – September 5, 2023
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https://macdailynews.com/2023/12/04/carjackers-reject-android-phone-for-not-being-a-real-iphone/
Washington D.C. police commander: AirTag your $2,000 Canada Goose jacket to deter thieves
Friday, December 1, 2023 3:52 pm
9 Comments
Last winter, George Washington University sent out an alert about a string of Canada Goose jacket thefts and robberies that are continuing to plague the area.
Note: Video at link below (2.22 minutes)
Josh Rosenthal for Fox5 Washington D.C.:
“It is something I have to think about, just putting my jacket on,” American University student Meera Hajarnis said. That’s because she was wearing a Canada Goose jacket, which has become a target for thieves.
“I know [George Washington University], Georgetown, same issue where a lot of people are just stealing these jackets out of locker rooms, classrooms,” Hajarnis said.
In at least one instance, they’re stealing them at gunpoint too.
Police said three suspects hopped out of a car, pointed guns, and demanded a victim’s Canada Goose jacket just a few blocks from Dupont Circle on Tuesday night.
Thursday, FOX 5 asked D.C. police if they had any advice.
“AirTags,” said Commander Sylvan Altieri. “I’ve seen people use them on tool kits, suitcases, I think that’s probably the best thing you can do as far as if it gets taken, because it’s a nice way to track it.”
MacDailyNews Take: You know what really deters thieves? The threat of arrest and harsh penalties for theft. Duh. And, yes, AirTags are awesome.
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https://macdailynews.com/2023/12/01/washington-d-c-police-commander-airtag-your-2000-canada-goose-jacket-to-deter-thieves/
Why Chase is Apple Card’s ideal partner to replace Goldman Sachs
Monday, December 4, 2023 9:05 am
2 Comments
Apple and Goldman Sachs are working on a deal to wind down their Apple Card partnership, and Chase is the ideal partner to team with Apple, Mark Gurman writes for Bloomberg News.
Mark Gurman for Bloomberg News:
Between the engineering spending and losses on loans, the credit card was a disaster for Goldman’s balance sheet, contributing to billions of dollars in red ink… So Apple recently offered Goldman Sachs a deal to get out early. If Goldman accepts Apple’s overture, it’s likely to take more than a year for the partnership to wrap up…
[Apple Card] has millions of users and more than $10 billion worth of deposits in related savings accounts… [so] some of the banks that didn’t want to partner with Apple four years ago might be willing to reconsider today. The name that has been discussed publicly the most so far has been AmEx.
But the bank that probably makes more sense as Apple’s new partner is Chase, which already has a significant relationship with the iPhone maker… It offers credit cards that use the MasterCard network. That’s the same system that powers the Apple Card, meaning there’d be no need to switch to the Visa or American Express platforms.
The one component of Apple’s financial services portfolio that wouldn’t be a fit for Chase is its savings account. That product is touted as a high-yield account, with an annual rate of 4.15%… The savings account deposits could be sold and split up among banks willing to offer the same interest rates to Apple. And users of the accounts probably wouldn’t care or even notice, as long as they’re able to access their cash.
MacDailyNews Take: Users of Apple’s high-yield Savings accounts would, of course, also expect them to be FDIC-insured, which they would be if Apple decided to split up the accounts with a group of banks offering high interest rates.
https://macdailynews.com/2023/12/04/why-chase-is-apple-cards-ideal-partner-to-replace-goldman-sachs/
Crypto This Monday: Bitcoin Surpasses 41K, Mantle Innovates with Ethereum Staking Protocol, and More
December 04 2023 - 11:42AM
IH Market News
Investments in crypto assets reach new highs
Asset managers such as CoinShares, Bitwise, Grayscale, ProShares, and 21Shares have reported an influx of $176 million in crypto assets in the last week, marking a total of $1.76 billion in 10 weeks. This period of inflows is the most significant since the launch of bitcoin futures-based ETFs in the US in October 2021. Trading volumes have remained high, with $2.6 billion in the last week. Bitcoin funds led the inflows, while Ether products also showed recovery. This growth comes amid rising values of bitcoin (COIN:BTCUSD) and ether (COIN:ETHUSD), with expectations of future ETFs in the US.
Bitcoin leads the cryptocurrency market rally
Bitcoin and other cryptocurrencies experienced a significant increase on Monday, with Bitcoin reaching its highest value in 20 months (COIN:BTCUSD), approximately $41,750. This growth represents a gain of over 50% since mid-October. The surge is attributed to hopes of approval for a spot Bitcoin ETF and expectations of interest rate cuts by the Federal Reserve. Meanwhile, Ether (COIN:ETHUSD) and other altcoins also recorded gains, with Dogecoin (COIN:DOGEUSD) and Shiba Inu (COIN:SHIBUSD) showing dynamic movements.
Societe Generale launches the first digital green bond on the blockchain
Societe Generale (EU:GLE), one of the largest banks in France, announced the issuance of its first digital green bond on a public blockchain, marking an advancement in its crypto services. The issuance of $10.87 million in unsecured senior bonds was subscribed by AXA Investment Managers and Generali Investments. Using the Ethereum blockchain, these green bonds aim to fund environmental projects. AXA IM invested in the bond through the purchase of SocGen’s stablecoin EUR CoinVertible.
Zodia Custody and Metaco collaborate to strengthen crypto asset custody
Zodia Custody, backed by Standard Chartered (LSE:STAN), is partnering with Metaco, affiliated with Ripple (COIN:XRPUSD), to enhance crypto asset custody services for institutions. This partnership offers access to high-level security solutions and risk management. The collaboration emphasizes connectivity with fundamental blockchain layers and the creation of a robust settlement network. The goal is to make Zodia Custody the most connected custodian in the digital asset ecosystem, focusing on expanding options for clients and ensuring asset security.
Shopify drives advances in cryptocurrency
Kaz Najatian, VP of Product and COO of Shopify (NYSE:SHOP), anticipates surprises with the company’s advancements in cryptocurrency and blockchain. “The cryptographic work we are doing at Shopify is some of our best work right now. In a few years, people will be surprised at how quickly we have progressed, but that’s because of the work being done now,” Najatian wrote in a post on X. Without specific details, the statement suggests a focus on integrating these technologies into the platform. Shopify has already adopted encrypted payment solutions, such as integration with Solana Pay and Crypto.com Pay. The Canadian-based e-commerce giant serves over 2 million businesses globally.
Franklin Templeton CEO reveals personal investments in cryptocurrencies
Jenny Johnson, CEO of Franklin Templeton (TG:GCOR), revealed in an interview with Fortune that she has personal investments in cryptocurrencies, including Bitcoin (COIN:BTCUSD), Ether (COIN:ETHUSD), and governance tokens like Uniswap (COIN:UNIUSD) and Sushi (COIN:SUSHIUSD). Johnson described these investments as a small portion of her overall portfolio and expressed skepticism about non-fungible tokens (NFTs), preferring assets with clear financial returns. While Franklin Templeton has applied to the SEC for a Bitcoin ETF, Johnson acknowledges uncertainty regarding regulatory approval.
Mantle launches a revolutionary liquid staking protocol on Ethereum
The web3 ecosystem led by the DAO Mantle (COIN:MNTLLUSD) announced its new Mantle Liquid Staking Protocol (LSP), enabling interactions with the Ethereum proof-of-stake (PoS) network. This permissionless and custody-free protocol, operating on Ethereum L1, is the second flagship product after the Mantle L2 Network. With the Mantle LSP, users stake ETH and receive mETH, a token that accrues value and rewards. mETH, tradable on various exchanges, stands out for its deterministic exchange rate calculation. Mantle prioritizes user experience and security, presenting a simplified architecture and robust risk management strategies.
Amazon Managed Blockchain and Polygon expand collaboration for Web3 developers
Amazon Managed Blockchain (AMB) now supports Polygon’s proof-of-stake mainnet and Mumbai testnet, facilitating the development of Web3 applications. AMB, which provides access to public and private blockchains, is compatible with the Ethereum Virtual Machine used in dApps, NFTs, and tokenization. This integration allows developers to create efficient and cost-effective Web3 applications on Polygon, benefiting consumer brands and financial institutions, with a focus on NFTs and digital assets. The collaboration promotes the development of scalable Web3 applications and gaming applications, with advantages such as automatic scaling and reduced costs. This partnership between AWS and Polygon is not unprecedented, as they have had previous collaborations like the MoonRealm Express Accelerator with Animoca Brands.
Impressive recovery of Terra and Terra Classic tokens
Tokens associated with the Terra 2.0 and Terra Classic ecosystems, including Luna Classic (COIN:LUNCUSD), Terra 2.0 (COIN:LUNAUSD), and Terra ClassicUSD (COIN:USTCUSD), have experienced a significant increase. Driven by various factors, such as investments from Terraform Labs and a plan to revamp USTC using Bitcoin, trading volume exceeded $2 billion. Additionally, Binance implemented a LUNC burning scheme, and the “Six Samurai” proposed a revitalization plan for Terra Classic. This remarkable recovery comes after the dramatic collapse of the Terra network in May 2022.
Crypto.com receives EMI license from the UK financial regulator
Crypto.com, one of the leading cryptocurrency platforms, has obtained authorization as an Electronic Money Institution (EMI) from the UK’s Financial Conduct Authority. This license, broader than the registration as a crypto company acquired in August 2022, allows for the issuance and management of electronic money, as well as offering various financial services. The company joins other major players like Coinbase (NASDAQ:COIN) and Gemini, expanding its range of electronic money products in the UK.
Challenges and concerns regarding the deployment of Digital Pound in the UK
The UK Treasury Committee has expressed uncertainties about the benefits of a Retail Central Bank Digital Currency (CBDC) known as the Digital Pound, pondering whether its advantages outweigh the risks. The implementation of this currency could pose economic challenges, including the possibility of bank runs and increased loan interest rates. Additionally, there are significant concerns about privacy and data security. Legislators have suggested that any progress in introducing the Digital Pound should be cautious, with lower initial deposit limits and a careful approach to evaluating whether the benefits justify the risks. The project, which began development in 2020, is currently in the design phase, and a final decision is not expected before the second half of this decade.
South Africa evaluates cryptocurrency licenses
The Financial Sector Conduct Authority of South Africa is reviewing 36 license applications from cryptocurrency companies, out of the 138 initially proposed. This month, the FSCA will focus on criteria such as market participation, consumer protection, and risk management. The process will consider the range of services offered, regulatory compliance, and cyber and credit risk management to ensure secure investments. South Africa, observing local growth in digital assets, seeks a robust regulatory environment inspired by the European MiCA model.
India registers cryptocurrency service providers under anti-money laundering rules
Up to 28 cryptocurrency service providers have registered with the Financial Intelligence Unit (FIU) of India, as announced by the Minister of State for Finance, Pankaj Chaudhary. This measure follows the March decision by the Ministry of Finance, requiring crypto companies to register with the FIU and follow procedures under the Prevention of Money Laundering Act, including KYC checks. The regulation also extends to offshore cryptocurrency exchanges operating in India, with possible actions under the PMLA against non-compliant platforms. Notably, none of the registered companies are offshore entities.
China, Japan, and South Korea join forces in technology and trade
At the 10th China-Japan-ROK Foreign Ministers’ Meeting in Busan, South Korea, China, Japan, and South Korea reaffirmed their commitment to deepening collaboration in emerging technologies such as big data, blockchain, and artificial intelligence. With a focus on regional and global economic recovery, the countries seek to revitalize negotiations for a trilateral free trade agreement. This cooperation aims to promote peace, prosperity, and economic integration in the Asia-Pacific region, aiming for global leadership in technological innovation. Meanwhile, South Korea faces challenges with the increasing cryptocurrency-related crimes, highlighting the need for a collaborative and strategic approach.
El Salvador’s Bitcoin Treasury returns to profit
El Salvador’s national Bitcoin treasury, according to NayibTracker.com, has returned to profit. The total investment of $127 million now shows a gain of $4 million, a profit of 3.17%. Based on President Nayib Bukele’s promise to buy 1 Bitcoin (COIN:BTCUSD) per day since November 2022, the website tracks purchases and earnings.
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/92716789/crypto-this-monday-bitcoin-surpasses-41k-mantle
Brian visits Canada in milestone moment for the country’s crypto journey
TLDR: This week we are celebrating another exciting milestone in our commitment to Canada as a Go Deep market. Our CEO and Co-Founder, Brian Armstrong, is in Toronto to meet with our partners and the wider crypto community. Brian will participate in two fireside chats: with Sid Paquette, Head of RBCx, and Tobi Lütke, Co-Founder and CEO of Shopify and Coinbase Board member. Brian will also meet with Canadian media and hold a Q&A session with our team here.
By Lucas Matheson International, November 28, 2023
https://www.coinbase.com/blog/brian-visits-canada-in-milestone-moment-for-the-countrys-crypto-journey
Transparency Report 2023
Tl;dr: We are proud to present our fifth annual Transparency Report. Our goal with the Transparency Report is to provide customers with data about requests for their information that we receive from government agencies and law enforcement. We also intend to provide some insight into law enforcement and regulatory trends around the world.
By Paul Grewal Company, November 29, 2023, 3min read time
https://www.coinbase.com/blog/transparency-report-2023
Apple’s bonds have seen equity-like returns in the past month
Thursday, November 30, 2023 5:28 pm
Investors who purchased Apple Inc. bonds in October are now looking at equity-like returns, as prices have climbed while spreads have tightened as Treasury yields fell.
Ciara Linnane for MarketWatch:
Hopes for one or more rate cuts by the Federal Reserve in 2024 have sparked a rally in Treasurys that has seen the Bloomberg US Aggregate Bond Index, a broad-based fixed-income benchmark, surge 4.91% so far in November as of Wednesday’s close. That puts it on pace for the biggest monthly gain since May 1985, when the monthly return was 5.23%.
The high-grade and highly liquid bonds issued by the iPhone maker have gained up to 15% in price depending on duration, while spreads have tightened up to 22 basis points, since mid-October.
In comparison, Apple’s stock has rallied about 10%.
Given those strong returns, the bonds have seen net selling in the last 10 days, most likely due to profit-taking as the month draws to a close and fund managers seek to lock in some gains.
MacDailyNews Take: Bonds. Yawn… but also YUM!
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https://macdailynews.com/2023/11/30/apples-bonds-have-seen-equity-like-returns-in-the-past-month/
UK antitrust regulator wins appeal to launch Apple probe
Thursday, November 30, 2023 9:44 am
In a reversal of a lower court ruling, Britain’s antitrust regulator, the Competition and Markets Authority (CMA), has been granted authority by the Court of Appeal to launch a probe of Apple’s Safari mobile browser and Apple Arcade cloud gaming services. The CMA had previously launched an investigation into the dominance of Apple and Alphabet’s Google in mobile browsers last year.
Reuters:
Apple argued that the CMA had “no power” to launch such an inquiry because it did so too late and that the probe should have been opened last June at the same time the CMA published a report on mobile ecosystems, which found Apple and Google had an “effective duopoly.”
The Competition Appeal Tribunal (CAT) ruled in Apple’s favour in March, but the Court of Appeal upheld the CMA’s appeal on Thursday.
Sarah Cardell, chief executive of the CMA, welcomed the decision which she said “gives the CMA the backing it needs to protect consumers and promote competition in UK”.
She said the CMA is ready to reopen the investigation “when the legal process is complete”.
Apple has the right to seek permission to appeal the decision.
The CMA said its investigation is on hold pending any application for permission to appeal to the Supreme Court.
MacDailyNews Take: As of October 2023, in the UK, Apple’s Safari has 48.62% share of mobile browsers. Google’s Chrome has 42.44%. Worldwide, Safari has just 25.76% share of mobile browsers. Chrome has 64.08%.
Side note: In the U.S., Safari has 51.4% share of mobile browsers. Chrome has 42.34%.
In general, the richer the country, the more iPhones are in use. The poorer the country, the more pretend, wannabe, knockoff iPhones are in use.
https://macdailynews.com/2023/11/30/uk-antitrust-regulator-wins-appeal-to-launch-apple-probe/
Coinbase's David Duong: Bitcoin ETFs Introduce a New Era of Crypto Investment
The head of research for the leading crypto exchange outlines how institutional access to bitcoin will change the crypto market for good.
ROB NELSONNOV 28, 2023 8:00 AM EST
As the world of cryptocurrency prepares for a flood of traditional capital, Roundtable anchor Rob Nelson sat down with David Duong, head of research at Coinbase, to discuss the latest trends and future prospects of bitcoin, particularly in the context of institutional investment.
Coinbase, a leader in the crypto space and one of its most prominent publicly-traded companies, has been at the forefront of regulatory and market dynamics, making this conversation especially timely.
Duong emphasized a significant shift in 2023, highlighting the applications for spot bitcoin exchange-traded funds (ETFs) as its indicator. These ETF applications are not just trying to introduce bitcoin to a broader range of institutional investors, but they are also paving the way for novel financial products in the crypto space. Such products are set to enhance the tradability of bitcoin and digital assets across various institutions. This development, according to Duong, is crucial for the market, as it brings regulated, compliance-friendly instruments that can diversify the applications of bitcoin and other cryptocurrencies.
Nelson further emphasized the potentially-transformative impact of these ETFs, particularly in how institutional players might be underestimating the power they are unleashing by integrating bitcoin into mainstream finance. He posited that the introduction of bitcoin at this level could be irreversible and significantly beneficial.
Duong dissected this trend further, explaining that the introduction of bitcoin ETFs is not just about accessibility, but also about the narrative driving people toward bitcoin. He differentiated the financial innovations of bitcoin from its technological aspects, suggesting that the former might have a stronger appeal to institutional investors. In a world where traditional safe-haven assets are becoming scarce, bitcoin presents itself as a viable alternative, especially in light of recent geopolitical events that have challenged the dominance of traditional fiat currencies.
This engaging discussion with Duong and Nelson shed light on the evolving role of bitcoin in the financial world. From a novel technology to a potential staple in institutional portfolios, bitcoin's journey reflects the dynamic nature of financial innovation and the ever-changing landscape of investment strategies.
https://www.thestreet.com/crypto/innovation/coinbase-david-duong-bitcoin-etfs-introduce-new-era-of-crypto-investment
Berkshire Hathaway vice chairman Charlie Munger dies at 99
Tuesday, November 28, 2023 4:31 pm
Berkshire Hathaway a few minutes ago was advised by members of Charlie Munger’s family that he peacefully died this morning at a California hospital.
Warren Buffett, CEO of Berkshire Hathaway, said in a statement: “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation.”
The family will handle all affairs pursuant to Charlie’s instructions, the company added.
Reuters:
Munger was 99, and would have turned 100 on Jan. 1. He died peacefully, Berkshire said. No cause was given.
Munger had been a Berkshire vice chairman since 1978, working closely with Buffett on allocating the Omaha, Nebraska-based conglomerate’s capital, and being quick to tell him when he was making a mistake.
The death of Munger is unlikely to have a major impact on Berkshire’s operations.
Two other vice chairmen, Greg Abel and Ajit Jain, have day-to-day oversight of Berkshire’s dozens of operating businesses. Abel is expected to become chief executive once Buffett is no longer in charge.
MacDailyNews Take: R.I.P., Mr. Munger.
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https://macdailynews.com/2023/11/28/berkshire-hathaway-vice-chairman-charlie-munger-dies-at-99/
US, UK, and 16 other countries ink non-binding agreement to make AI ‘secure by design’
Monday, November 27, 2023 6:13 pm 4 Comments
The United States, the United Kingdom, and more than a dozen other countries on Sunday unveiled what a senior U.S. official described as the first detailed international agreement on how to keep artificial intelligence safe from rogue actors, pushing for companies to create AI systems that are “secure by design.”
Reuters:
In a 20-page document unveiled Sunday, the 18 countries agreed that companies designing and using AI need to develop and deploy it in a way that keeps customers and the wider public safe from misuse.
The agreement is non-binding and carries mostly general recommendations such as monitoring AI systems for abuse, protecting data from tampering and vetting software suppliers.
The agreement is the latest in a series of initiatives – few of which carry teeth – by governments around the world to shape the development of AI, whose weight is increasingly being felt in industry and society at large.
In addition to the United States and Britain, the 18 countries that signed on to the new guidelines include Germany, Italy, the Czech Republic, Estonia, Poland, Australia, Chile, Israel, Nigeria, and Singapore.
MacDailyNews Take: Non-binding means just more valueless, waste-of-time, waste of taxpayers’ money BS.
So, how many tons of carbon were spewed via private jets around the world and how many expense reports were filed to the tune of how many taxpayers’ dollars in order to arrive at this worthless 20-squares of toilet paper?
This “document” is yet another “doing something” (i.e., nothing) scam that converts hardworking taxpayers’ money into trips, golf, gourmet meals, etc. and which could have been composed just as well via a Webex meeting or 300, given that government officials are involved. This meaningless tripe will do nothing whatsoever to “shape the development of AI.” Governments will be decades behind the tech as they always are. We’ll all be kowtowing to our robot overlords by the time “government” figures it out.
In closing, to all involved, great job*!
*wasting yet more money that you don’t have on yet more insipid twaddle
https://macdailynews.com/2023/11/27/us-uk-and-16-other-countries-ink-non-binding-agreement-to-make-ai-secure-by-design/
Apple wants to kill Apple Card, Apple Savings partnership with Goldman Sachs
Wednesday, November 29, 2023 8:58 am
3 Comments
Apple is looking to pull the plug on its Apple Card / Apple Savings partnership with Goldman Sachs, ending the Wall Street bank’s bid to expand into consumer lending.
AnnaMaria Andriotis for The Wall Street Journal:
The tech giant recently sent a proposal to Goldman to exit from the contract in the next roughly 12 to 15 months, according to people briefed on the matter. The exit would cover their entire consumer partnership, including the credit card the companies launched in 2019 and the savings account rolled out this year.
It couldn’t be learned whether Apple has already lined up a new issuer for the card… Goldman has discussed with American Express the possibility of handing over the program to the card giant. Amex expressed concern about several aspects of the program, including its loss rates, and it isn’t clear if those discussions have continued. Synchrony Financial has also been looking into the possibility of taking over the credit-card program, some of the people said…
The move would mark a swift about-face for a program that just over a year ago was extended through 2029 and was intended to serve as a pillar of Goldman’s main-street ambitions.
For Goldman, the partnership was a big part of its failed bid to diversify beyond businesses serving big corporate and investor clients and the ultrarich, and its demise is the final big step back from the failed experiment. Goldman is now turning back to focusing on those core clients.
MacDailyNews Take: Doesn’t inspire us to consider Goldman’ Marcus savings accounts, that’s for sure. Apple will be just fine with a new, less skittish, more seasoned, and more reliable banking partner.
https://macdailynews.com/2023/11/29/apple-wants-to-kill-apple-card-apple-savings-partnership-with-goldman-sachs/
How about an official name change for this stock to something coffee related, instead of fracking (oil, natural gas, etc...)? I agree with you about press releases on new customer accounts...it worked for
Green Mountain Coffee!
here is their history:
https://www.company-histories.com/Green-Mountain-Coffee-Inc-Company-History.html
Apple assembler Foxconn to invest $1.6 billion in Indian expansion
Monday, November 27, 2023 9:04 am
Foxconn Technology Group, also known as Hon Hai Precision Industry Co, a partner of Apple Inc, intends to double its investment and workforce in India. The company will invest $1.6 billion in building new plants in India and hire up to 10,000 workers for its new facilities.
The move is part of a broader trend of manufacturing relocating from China amid escalating tensions between Washington and Beijing. Hon Hai is the world’s largest contract electronics manufacturer and its decision to expand in India is a major vote of confidence in the country’s economy.
India has been working to attract foreign investment in its manufacturing sector and Hon Hai’s move is a significant boost for those efforts. The company’s new plants are expected to produce a range of electronic products, including smartphones, laptops, and servers.
The investment is expected to generate a substantial economic impact in India, creating thousands of new jobs and boosting the country’s electronics manufacturing sector. Hon Hai’s decision to expand in India is a positive development for both the company and the country.
Jane Lanhee Lee for Bloomberg News:
Hon Hai Precision Industry Co. plans to expand its footprint in India with another NT$50 billion ($1.6 billion) investment for construction projects.
The announcement, made in an exchange filing in Taiwan late Monday, didn’t give any further details, saying only that the investment was for “operational needs.” A spokesperson for the company declined to say where the new facilities would be or what they would build.
MacDailyNews Take: As we wrote back in March 2023, “The CCP’s lunacy is India’s gain.”
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https://macdailynews.com/2023/11/27/apple-assembler-foxconn-to-invest-1-6-billion-in-indian-expansion/#
Apple employees who leave are most likely to join Google
Friday, November 24, 2023 1:03 pm
To find which tech giants attract the most talent from competitors, Switch on Business explored employee profiles on Linkedin for a selection of tech companies.
First, Switch on Business searched how many employees currently worked in these companies: Google (Alphabet), Amazon, Apple, Meta, Microsoft, IBM, Tesla, Oracle, Netflix, Nvidia, Salesforce, Adobe, Intel and Uber. Then, for each pair of companies, it searched for employees who currently work in each tech giant and previously worked for each other company from the seed list.
Switch on Business then calculated the count and % of current employees at each tech giant who previously worked at other tech giants.
Georgia McKenzie for Switch on Business:
Some 26.51% of Meta employees have worked at another tech giant — the highest proportion of any tech giant workforce.
However, Google has attracted the most talent by volume: 38,316 (24.15%) of their current staff came via other tech giants.
IBM headhunts the least, with just 2.28% of the current workforce having previously worked for another tech giant.
Apple’s biggest hunting ground is Intel, a company with which they formerly had a close relationship. Until recently, Apple used Intel chips in its desktop and laptop computers, but the company has long had the intention of developing its own chips — and the company now believes it has edged ahead in designing and manufacturing computer parts. Apple also bought Intel’s modem division, which came with 2,000 former Intel employees and further strengthened the case for other Intel veterans hoping for a shot at an Apple job. Apple has its fair share of ex-Google employees, not least due to hiring Google Maps developers for its own map applications.
https://macdailynews.com/2023/11/24/apple-employees-who-leave-are-most-likely-to-join-google/#
Coinbase joins global financial leaders at UK Investment Summit
Tl;dr: Coinbase CEO and Co-Founder Brian Armstrong joins Britain's Global Investment Summit along with some 200 global CEOs of major financial institutions and tech firms.
By Tom Duff Gordon
, November 27, 2023
In today’s fast-paced world of technological advancements, innovation is not merely a buzzword; it's the engine driving our modern economy. The rise of cryptocurrencies and blockchain technology opens a new chapter, offering significant opportunities for further innovation and financial evolution.
Today, our CEO and Co-Founder Brian Armstrong is visiting the UK, our largest international market, to attend the exclusive Global Investment Summit, organised by the UK Government. This Summit is Prime Minister Sunak’s biannual marquee event for 200 global CEOs across many industries including major financial institutions and tech firms. The theme of this year’s summit is “Innovation for Human Progress”, and will showcase pioneering British innovations, with AI, quantum, agri-tech, clean growth, advanced manufacturing, life sciences and fashion businesses demonstrating the UK’s offering for investors. We are proud to be the only pure-play digital asset platform to receive an invitation, further demonstrating the momentum for crypto around the world.
We have no doubt that this summit will further contribute to making the UK a centre for innovation. For innovation to truly thrive we must cultivate a supportive environment. This includes trusting market mechanisms, fostering competition, protecting digital property rights, incentivising creators, and ensuring open information exchange.
Over the last 18 months, the UK Government and FCA have been developing welcome regulation for our sector. And this has brought us confidence: confidence to continue to grow and invest here in the UK.
We need regulatory frameworks that provide clarity while respecting the core benefits of cryptocurrency: enabling frictionless, global, and inclusive financial interactions. In a world where the boundaries of our digital and physical lives are being blurred with technological superclusters, regulators have to become equally nimble to provide solutions. We must also be attuned to the ways in which new technologies will interact with each other, for example AI and blockchains.
We understand that regulating a new technology and a new industry is not always easy. It can sometimes be tempting to try to over-stretch existing rules, rather than create new rules focused on the actual risks (and sometimes lesser risks) presented by new products and services. The wrong rules for new technology can end up unnecessarily preventing trusted industry participants from providing beneficial new products to customers and, even worse, pushing customers to seek out less safe products instead.
The UK has shown its commitment to attracting talent, embracing innovation, and coming to the table with industry players to make the UK a global hub for blockchain technology, fintech and innovation. Events like today’s Global Investment Summit, prove Britain’s willingness to listen and co-create its future with industry at its core.
https://www.coinbase.com/blog/coinbase-joins-global-financial-leaders-at-uk-investment-summit
I agree with your thoughts about the future of JASMY...I am only posting what they publicly release in press releases, but am accumulating on the potential that I read elsewhere. Have a nice Thanksgiving!
Apple explores ways to block view of shoulder surfers
Tuesday, November 21, 2023 5:37 pm
1 Comment
“Shoulder surfers” – people peering that your device’s display over your shoulder unbidden – are a real problem that leads to hacking, stolen information, and even identity theft. Privacy champion Apple is exploring way to prevent it.
Sarah Bregel for Fast Company:
Apple has improved screens in just about every imaginable way already. However, most of those fixes make our scenes easier to view—not harder. Now, the company might be working on a solution that will leave shoulder surfers struggling for a solid view.
[T]wo new patents acquired by Apple aim to solve the problem. The first, called “Privacy films for curved displays,” proposes putting a covering on the screen, which only allows light to emanate in one direction. Therefore, only the person right in front of the screen can view it clearly. The other patent, for flat screens, is called “Displays with adjustable angles of view.” It proposes altering the viewing angle of the display while in use, which would act as a filter, letting the user be in control of how polarized the screen is. The patent also describes the use of a liquid crystal element that only allows certain colors to be seen when not viewing the screen head-on.
While we might not always be aware of it, shoulder surfing is rampant. In a 2016 NYU study, 73% of survey respondents shared that they had seen someone’s confidential PIN without that person realizing it.
MacDailyNews Take: Such technology would be a boon to city dwellers, travelers, bar patrons, etc.
https://macdailynews.com/2023/11/21/apple-explores-ways-to-block-view-of-shoulder-surfers/#
The Babylon Bee lampoons Apple CEO Tim Cook for pulling ads from X ‘while shaking hands with brutal Chinese dictator’
Wednesday, November 22, 2023 9:56 am 7 Comments
The Babylon Bee, famous for publishing satirical articles on a wide variety of topics with 20 million monthly page views, has trained its sites on Apple CEO Tim Cook in an article headlined “‘We Cannot Be Associated With Elon Musk,’ Says Tim Cook While Shaking Hands With Brutal Chinese Dictator.”
The Babylon Bee:
Amid charges that Elon Musk’s social media app “X” has become a dangerous breeding ground for speech Communists don’t like, Apple CEO Tim Cook has elected to pull all Apple advertising from the platform.
“I refuse to allow my morally pristine corporation to be associated with disreputable characters like Elon Musk,” said Cook while shaking the hand of murderous communist dictator Xi Jinping at this week’s APEC Dinner…
Sources confirmed Cook had a lengthy discussion with the cruel tyrant who runs the slave state of Communist China, including how they can produce more iPhones with the same number of Uyghur slaves without too many of them dying. “At Apple, we are willing to make the hard, yet moral choices,” he said…
Mother Nature, the vengeful pagan god presiding over Apple’s climate change mitigation efforts, applauded the move. “I want fewer people on the planet,” she said. “And Elon Musk wants more people on the planet. He must be eliminated.”
Sources confirmed Cook has moved his advertising dollars over to Facebook, which is currently the preferred platform for organizing “Kill the Jews” rallies around the world…
MacDailyNews Take: Ouch (and we omitted the Epstein Island stuff).
This satirical article is painful, but predictable, as Cook put himself in this hypocritical position which he could have avoided simply by waiting a second instead of knee-jerkingly pulling advertising from X over a manufactured “controversy.” But, we already know that Cook would very much like to control what people are allowed to read, hear, and see, so perhaps he was just looking for any excuse to yank Apple’s ads from X.
True power is restraint. If words control you, that means everyone else can control you. Breathe and allow things to pass. – Warren Buffett
X owner Elon Musk addressed the situation on November 18th, just hours after Apple pulled its advertising from the social media site:
Their board, their donors, their network of dark money, all of them …
— Elon Musk (@elonmusk) November 18, 2023
Crypto this Monday: Bullish Acquires CoinDesk, Santander Launches Swiss Crypto Services, and More
November 20 2023 - 02:50PM
IH Market News
Javier Milei, bitcoin supporter, wins presidential election in Argentina
Javier Milei was elected president of Argentina after Sergio Massa admitted defeat on Sunday night, with Milei securing 56% of the votes. Milei’s victory, known for criticizing the central bank and supporting bitcoin, influenced the cryptocurrency market, raising bitcoin (COIN:BTCUSD) by 2%, to $37,150. Milei advocates for returning monetary control to the private sector, highlighting his belief in bitcoin as an economic alternative.
Bullish acquires CoinDesk in an all-cash deal
Bullish, a cryptocurrency exchange led by former NYSE president Tom Farley, bought CoinDesk, a major crypto-focused media outlet, in an all-cash transaction. The financial details of the deal were not disclosed, but CoinDesk, previously acquired for $500,000 in 2016, generated $50 million in revenue last year. Kevin Worth will continue as CEO of CoinDesk, which will operate as a subsidiary of Bullish. An independent editorial committee will be formed to maintain CoinDesk’s journalistic integrity under the new management.
Santander launches cryptocurrency services for elite clients in Switzerland
Santander Private Banking International (NYSE:SAN) is introducing trading and investment in cryptocurrencies for wealthy clients in Switzerland. The service, announced by CoinDesk, will include more digital currencies under strict evaluation. Exclusive to requesting clients, it is secured by a regulated custody model. This initiative by Santander, a financial giant with a long history, deviates from conventional banking practices.
ARK Invest persists in the search for a Bitcoin ETF in the US
ARK Investment Management, led by Cathie Wood, remains determined to launch a Bitcoin spot ETF in the United States. On November 20, the company filed a third updated version of the prospectus for the ARK 21Shares Bitcoin ETF, developed in collaboration with 21Shares. If approved, the ETF will operate on the BZX Exchange under the symbol ARKB. This move reflects ongoing progress, despite previous delays by the SEC, with the next decision expected on January 11, 2024. Prospectus updates, including new risk disclosures, indicate preparation for SEC approval.
Sustained growth in crypto funds with $176 million in inflows
Crypto asset funds from companies like CoinShares, Bitwise, Grayscale, ProShares, and 21Shares recorded an increase of $176 million in the last week, marking the eighth consecutive week of growth, as reported by CoinShares. This increase raised the annual total to $1.32 billion, with Exchange Traded Product (ETP) volumes now averaging 11% of the total cryptocurrency volume, double the historical average. Despite this increase, current inflows are still below the levels of 2021 and 2020. Bitcoin (COIN:BTCUSD) leads the inflows, while Solana (COIN:SOLUSD) stands out among altcoins.
Tether freezes $225 million worth of tokens in anti-crime action
Tether (COIN:USDTUSD), a stablecoin issuer, has frozen approximately $225 million in USDT tokens, collaborating with a US Department of Justice investigation into human trafficking in Southeast Asia. The company, in partnership with the DOJ and the OKX exchange, identified the funds in self-custody wallets. This action was part of a months-long investigation into a romance fraud scheme. Tether stated that it will work with US authorities to release any legally seized wallets and reiterated its commitment to security and transparency in the cryptocurrency sector.
Changes in OpenAI leadership influence the value of the WLD token
The native token of Worldcoin (COIN:WLDUSD), co-founded by Sam Altman, experienced notable price fluctuations following recent changes in OpenAI’s leadership, where Altman also played a crucial role. The digital currency saw a 9.1% increase to $2.55 in response to news of Altman stepping down as CEO of OpenAI and receiving a new offer from Microsoft (NASDAQ:MSFT). Worldcoin, whose project is led by Altman, has not commented on how his new position at Microsoft might affect his involvement with Worldcoin. Despite the volatility, analysts predict ongoing fluctuations but maintain expectations of stable popularity for WLD among investors.
AVAX leads the surge among Layer 1 Ethereum alternatives
AVAX, the token of Avalanche (COIN:AVAXUSD), is at the forefront of a growth wave among Layer 1 alternatives to Ethereum. Over the past 30 days, AVAX has seen an increase of nearly 130%, while Solana (COIN:SOLUSD) and Near (COIN:NEARUSD) have also made significant gains. This surge reflects growing institutional interest in efficient alternatives to Ethereum (COIN:ETHUSD), as evidenced by Avalanche’s collaboration with major financial institutions, including JP Morgan (NYSE:JPM). Despite this rise, analysis indicates that AVAX may be overbought, suggesting a potential trend reversal.
Pyth Network successfully launches the PYTH token
Pyth Network launched its PYTH token, reaching a market cap of $468 million. Initiated with an airdrop to 90,000 wallets, PYTH fluctuated between $0.32 and $0.51. Holders have 90 days to claim tokens, used in governance votes. With 1.5 billion tokens in circulation, Pyth is an emerging price oracle.
Synthetix Network sees SNX price surge with exciting news
The price of Synthetix Network’s SNX token (COIN:SNXUSD), a prominent derivatives liquidity protocol, soared +14% after announce the launch of Perps V3 on BASE, Coinbase’s (NASDAQ:COIN) scaling blockchain. This advancement, combined with the partnership with Pyth Network, promises innovations such as cross-margins and multi-collateral trading. This increase comes after a 35-day upward trend, overcoming resistance and reaching a peak of $3.725. Analysis indicates strength in the Synthetix Network, but warns of a possible pullback due to the high RSI. Market optimism suggests a $4.20 target for SNX, while downside risk could lead to consolidation around $2.73.
Dfinity and SingularityNET partnership to power AI on blockchain
The Dfinity Foundation and SingularityNET announced a partnership to power decentralized AI infrastructure by integrating the ICP blockchain into the SingularityNET marketplace. This collaboration will allow DApps on ICP to access advanced language models, increasing transparency and security. The project aims to democratize AI and encourage community development in this emerging technology.
Osaka Digital Exchange launches digital securities trading in Japan
The Osaka Digital Exchange (ODX) announces the start of digital securities trading in Japan from December 25, with security tokens issued by Ichigo and Kenedix, two real estate firms. These tokens represent a new form of digital asset, linked to real and regulated assets. The move, which includes Ichigo’s sale of more than $20 million in securities, reflects Japan’s growing interest in digital assets. This move coincides with other developments in the country, such as allowing startups to raise capital through cryptocurrencies and the launch of a yen-backed stablecoin in 2024.
Strategic partnership to advance Web 3.0 in asset management in Hong Kong
China Asset Management (HK) has entered into an agreement with Hashkey Exchange and HamsaTech to drive Web 3.0 initiatives in asset management in Hong Kong, aligning with government policies on innovation in fintech and digital assets. The partnership aims to integrate traditional and virtual finance, promoting a safe and innovative market.
Luxor Technologies launches logistics division for Bitcoin mining
Luxor Technologies, known for its Bitcoin mining services, is expanding its operations with the launch of Luxor Logistics. This new arm of the company will be dedicated to improving the logistics of shipping mining equipment, simplifying customs processes and offering personalized transport and delivery solutions. According to Lauren Lin, Director of Business Development at Luxor, the initiative aims to help miners navigate the complexities of import/export and documentation in various regions. Luxor Logistics appears at a crucial time for the sector, aiming to increase the efficiency and competitiveness of miners before the next Bitcoin (COIN:BTCUSD) halving event.
Mastercard and Feedzai join forces against cryptocurrency fraud
Mastercard (NYSE:MA) has entered into a new partnership with Feedzai, an artificial intelligence company, as reported by CNBC in 20 from November. The objective is to strengthen the detection and prevention of fraud in cryptocurrency transactions. Feedzai will be integrated with Mastercard’s CipherTrace Armada tool, aimed at monitoring suspicious activity across thousands of cryptocurrency exchanges. Feedzai’s technology uses AI to quickly identify and block fraudulent transactions, also addressing money laundering and fake accounts. This partnership aims to improve security in crypto transactions, following Mastercard’s recent efforts in the Web3 and cryptocurrency space.
WOO X resumes operations after temporary suspension due to security breach
Following a security breach that affected Kronos Research, one of its market makers, crypto platform WOO X has resumed operations, ensuring the security of customers’ assets. Kronos, based in Taipei, suffered an attack that resulted in the unauthorized transfer of approximately US$25 million in crypto assets to six different addresses. WOO X had temporarily paused trading as a precautionary measure, but has now resumed its activities. In addition, WOO X plans to repurchase and burn 20 million tokens after recovering shares from the failed hedge fund Three Arrows Capital (3AC), increasing the ownership of other shareholders.
Deadline extension granted in Sam Bankman-Fried legal case
Judge Lewis A. Kaplan of the U.S. District Court in New York approved the extension of the deadline for post-trial motions in the Sam Bankman-Fried case. The defense, represented by Cohen & Gresser LLP, now has until December 1 to file these motions, with the government responding by December 22 and the defense again by January 8, 2024. This change provides additional time for preparation, given the complexity of the case, where Bankman- Fried faces serious charges including fraud and money laundering.
Panoptic raises $7 million to develop DeFi platform
Panoptic, a DeFi platform linked to Uniswap (COIN:UNIUSD), raised $7 million in funding, led by Greenfield Capital. With participation from HashKey and gumi Cryptos Capital, this investment, part of the total US$11.5 million already raised, will focus on improving Panoptic. The platform, known for offering perpetual options in the DeFi market, is preparing to launch on the Ethereum network and introduce its V2 product.
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/92611226/crypto-this-monday-bullish-acquires-coindesk-san
A Call To Action: Mobilizing 52 Million Crypto Owners Into An Army of One Million Advocates For Change
Includes Stand with Crypto Day in DC on September 27th and will have an intense focus on organizing in AZ, CA, GA, IL, NH, NV, OH, PA, and WI
By Coinbase Company
, September 19, 2023
Visual-1B_V1.png
Tl;dr: Nearly nine in ten Americans believe it is time to update the financial system, but progress is being slowed by resistance of those in power who embrace the status quo: outdated systems that limit economic freedom and opportunity for everyday Americans. Today we’re launching an effort to mobilize 52 million crypto owners – younger and more diverse than the US population as a whole – into a powerful force heading into the 2024 elections with an intense focus on nine key states. If you care about crypto, take one minute to call your congressperson.
It’s time to challenge the status quo by updating the system
Earlier this year, Coinbase undertook research to understand the attitudes of Americans toward the financial system. It found that people overwhelmingly want change. Nearly nine in ten (87%) Americans believe the financial system needs changing and half (51%) of Americans believe that America’s financial system does not work fairly for everyone. Most perceive the system as benefiting anyone but people like themselves, and only 14% are optimistic about the future of the financial system.¹
Prior research reinforces their attitudes in benefiting from the underlying democratizing power of blockchain technology:
* 63% of crypto owners agree that the system unfairly favors powerful interests²
* In bellwether states like Nevada, Ohio and Pennsylvania, more than 40% of those who own digital assets do so to remit money across borders to help family members pay for food, housing and health care for far less than what banks and wire services typically charge³
* 72% of 18-34s believe “crypto gives people direct control over their money” and 72% agree that “digital assets are the future of finance"4
When it comes to using blockchain technology to help make our financial system more open, more participatory, and more democratic, the status quo is relying on an “enforcement only” approach to keep in place a financial system that the vast majority of the people want changed. While a growing number of elected officials in Congress are advocating for legislation to regulate crypto and drive progress in the financial system, others are simply choosing to protect the status quo. And in a democracy, the will of the people can drive progress.
52 million Americans matter
The reality is that right now in America, 1 in 5 adults own crypto – it’s a group 52 million Americans strong. To help give this raw number context: (much more at link below:)
https://www.coinbase.com/blog/a-call-to-action-mobilizing-52-million-crypto-owners-into-an-army-of-1
Elon Musk’s X CEO Yaccarino: Apple has only ‘temporarily paused’ ads due to ‘misleading and manipulated article’
Monday, November 20, 2023 12:52 pm
X CEO Linda Yaccarino sent a note to employees Sunday evening, saying a Media Matters hit-piece on ads appearing near antisemitic content on the social media platform is “misleading” and that the company is in the midst of battling “deceptive attacks.”
The statement comes after Media Matters claimed the platform was placing ads for major companies such as Apple and others “next to content that touts Adolf Hitler and his Nazi Party.” In knee-jerk reaction, many advertisers, including Apple, Disney, Warner Bros. Discovery, and Lionsgate quickly paused ads on the social media platform. Yaccarino says this advertising pause is only “temporary.”
Caitlin Huston for The Hollywood Reporter:
“While some advertisers may have temporarily paused investments because of a misleading and manipulated article, the data will tell the real story. Because for all of us who work at X, we’ve been extremely clear about our efforts to combat antisemitism and discrimination, as there’s no place for it anywhere in the world,” Yaccarino wrote in the memo to all X employees, under the headline “Our Work is Meaningful.”
Additionally, [X owner Elon] Musk drew criticism for writing a post on Wednesday that many are calling out as being antisemitic. Musk said “you have said the actual truth” in response to another user on X, who said, “I’m deeply disinterested in giving the tiniest shit now about western Jewish populations coming to the disturbing realization that those hordes of minorities that support flooding their country don’t exactly like them too much.”
MacDailyNews Note: Yaccarino’s full memo:
Team,
Across every corner of this company, we’re working to create a platform for everyone. And there is no other platform that’s working as hard to protect free speech like X. Our work is critical, but it’s not always easy. What we’re doing matters, which means it naturally invites criticism from those who do not share our beliefs.
While some advertisers may have temporarily paused investments because of a misleading and manipulated article, the data will tell the real story. Because for all of us who work at X, we’ve been extremely clear about our efforts to combat antisemitism and discrimination, as there’s no place for it anywhere in the world.
I want to encourage you to read and listen to all the feedback. On one side, there’s a vocal minority trying to use deceptive attacks to undermine our work. But on the other side, there are vocal supporters and courageous partners who believe in X and the meaningful work you are all doing. Hold on to that and keep pushing forward. No critic will ever deter us from our mission to protect free speech.
Let’s keep putting our values to work and lean on one another. I am extremely proud to be on the front line with you all — and I’ll see you all at the office tomorrow morning.
Linda
Prior to the memo, Twitter owner Elon Musk addressed the situation:
https://macdailynews.com/2023/11/20/elon-musks-x-ceo-yaccarino-apple-has-only-temporarily-paused-ads-due-to-misleading-and-manipulated-article/
Apple files legal case contesting EU’s Digital Markets Act
Friday, November 17, 2023 11:07 am
According to a post shared by the Court of Justice of the European Union on X, Apple has filed a legal case contesting decisions taken by the European Commission under its recently-introduced Digital Markets Act.
Martin Coulter for Reuters:
While details of Apple’s legal challenge have not been made public, Bloomberg News reported last week the company would challenge the inclusion of its App Store on the list of gatekeepers.
Meta and TikTok had already filed appeals disputing the Commission’s decision to include their services.
In its appeal, Meta said it disagreed with the Commission’s decision to designate its Messenger and Marketplace services under the DMA. It did not challenge the inclusion of Facebook, Whatsapp, or Instagram.
Meanwhile, TikTok said its designation risked entrenching the power of dominant tech companies.
MacDailyNews Note: Here’s the case info via the EU Court of Justice:
EU Court of Justice
@EUCourtPress
@Apple
(Cases T-1079/23 & T-1080/23), #Bytedance (#TikTok) (T-1077/23) and #Meta (T-1078/23) have filed cases contesting decisions taken by the
@EU_Commission
under the #DigitalMarketsAct #DMA #Competition.
https://macdailynews.com/2023/11/17/apple-files-legal-case-contesting-eus-digital-markets-act/
APPLE LAUNCHES TAP TO PAY ON THE IPHONE IN FRANCE
Dennis Sellers November 14, 2023
Apple has announced that companies based in France can now accept in-person and contactless payments via Tap to Pay on the iPhone.
This new feature will allow millions of merchants, whether small businesses or large distributors, to smoothly and securely accept payments from contactless bank cards, Apple Pay and other digital wallets using only their iPhone and a partner’s iOS app with no additional hardware or payment terminal is required, says Jennifer Bailey, Apple Vice President of Apple Pay and Apple Wallet.
The Tap to Pay service on iPhone is available to payment platforms and app developers in France, who can integrate it with their iOS apps and offer it as a payment acceptance option to their business customers. The BPCE Group (Banques Populaires, Caisses d’Epargne and Payplug) and the companies Adyen, myPOS, Revolut, SumUp, Viva Wallet and Worldline now offer Tap to Pay on iPhone to their French professional clientele, and they will soon be joined by BNP Paribas, Crédit Coopératif, Market Pay, Stancer and Stripe.
As of today, Tap to Pay on iPhone is available in all Apple Stores in France, and is being deployed in many points of sale, including those of Christian Dior Couture, belonging to the LVMH group, Dyson, Rituals and Sézane. The Addition has integrated Tap to Pay on iPhone into its cashing system used by thousands of restaurants in France. Sephora, which is also part of the LVMH group, will deploy Tap to Pay on iPhone in the coming weeks in its stores in France.
With Tap to Pay on iPhone, merchants can enable contactless payment acceptance through a supported iOS app on an iPhone XS (or later) running the latest version of iOS. When paying, the merchant will simply invite the customer to approach his contactless credit card, iPhone or Apple Watch to his own iPhone in order to pay with Apple Pay or another digital wallet.
Payment will be made securely using NFC2 technology. No additional equipment is required to accept contactless payments via Tap to Pay on iPhone, which allows companies based in France to use this service wherever they operate. Apple Pay is already accepted by more than 98% of French distributors and, thanks to this new feature, virtually all companies, regardless of their size, will be able to use Tap to Pay on iPhone at the time of collection.
https://appleworld.today/apple-launches-tap-to-pay-on-the-iphone-in-france/
Apple CEO Tim Cook attends $40,000-per-plate dinner with Chinese President Xi Jinping in San Francisco
Thursday, November 16, 2023 9:57 am
Apple CEO Tim Cook and BlackRock CEO Larry Fink are among those who attended an $40,000-per-plate dinner with Chinese President Xi Jinping on Wednesday in San Francisco.
Bloomberg News:
Blackstone Inc. Chief Executive Officer Steve Schwarzman and Visa Inc. CEO Ryan McInerney [joined] them at the soiree in San Francisco, according to people briefed on the matter. Pfizer Inc. CEO Albert Bourla earlier confirmed he would attend the event, as he spoke on the sidelines of a summit that’s part of this week’s Asia-Pacific Economic Cooperation leaders’ meetings.
Technology CEOs including Qualcomm Inc.’s Cristiano Amon and Broadcom Inc.’s Hock Tan [were] also on the guest list, said the people, who asked not to be identified sharing details of a private event.
Xi [had] the chance to talk up China’s economy to some of the world’s most-powerful foreign investors at the event, after a post-pandemic reopening expected to spur global growth failed to deliver.
“The Chinese economy is clearly weakening. There’s no question,” said Derek Scissors, senior fellow at the American Enterprise Institute. “But if you need to stay in China, and you’re worried about your position because of Chinese government behavior, it’s even more important to be able to talk to Xi.”
Representative Mike Gallagher, a Wisconsin Republican who chairs the House Select Committee on the Chinese Communist Party, claimed at an anti-CCP rally on Saturday that attendees were paying $40,000 to sit at Xi’s table. The Chinese leader is also [delivered] an address to the dinner.
MacDailyNews Take: Money makes the world go ’round.
Related
Apple’s Cook, Facebook’s Zuckerberg meet Chinese President Xi Jinping in Beijing
Monday, October 30, 2017
In "News"
Chinese President Xi Jinping to meet with Apple CEO Tim Cook today
Wednesday, September 23, 2015
In "News"
Tim Cook meets with Chinese President as Obama threatens import restrictions
Thursday, September 24, 2015
In "News"
https://macdailynews.com/2023/11/16/apple-ceo-tim-cook-attends-40000-per-plate-dinner-with-chinese-president-xi-jinping-in-san-francisco/
U.S. lawmakers question Apple over cancellation of Jon Stewart flop
Wednesday, November 15, 2023 11:23 am
U.S. lawmakers, citing concerns that content related to China was behind the cancellation, asked Apple to explain the abrupt end of political comedian Jon Stewart’s television show on its streaming service, according to a letter made public on Wednesday.
Patricia Zengerle and Michael Martina for Reuters:
The New York Times reported last month that Stewart’s show on Apple’s streaming service was ending, the result of creative differences. The newspaper said Stewart told members of his staff that potential show topics related to China and artificial intelligence were causing concern to Apple executives.
MacDailyNews Take:
“While companies have the right to determine what content is appropriate for their streaming service, the coercive tactics of a foreign power should not be directly or indirectly influencing these determinations,” the Republican and Democratic leaders of the House of Representatives’ Select Committee on Competition with the Chinese Communist Party said in the letter to Apple Chief Executive Tim Cook.
The letter asked representatives of Apple for a briefing on its concerns by Dec. 15, 2023. And said it also exected to speak with representatives of Stewart.
“To reassure the creative community in light of these reports, we also respectfully request that Apple publicly commit that content that could be perceived as critical of the CCP or the PRC is welcome on Apple TV+ and other Apple services,” said the letter, signed by the panel’s Republican chairperson, Representative Michael Gallagher, and Representative Raja Krishnamoorthi, the panel’s ranking Democrat.
MacDailyNews Take: The thing was cancelled because not enough people watched it. “The Problem with Jon Stewart” has been a flop since it debuted and, even after attempting to rework it and an extra season gifted by Apple, it still couldn’t be saved – likely because Jon Stewart passed his sell-by date a decade ago.
And, by the way, Apple can cancel any series it wants to cancel whenever it so wishes, even if they do it to appease the Chinese Communist Party.
See also: ‘The Problem with Jon Stewart’ on Apple TV+ is that it’s a flop – April 18, 2022
https://macdailynews.com/2023/11/15/u-s-lawmakers-question-apple-over-cancellation-of-jon-stewart-flop/
Korean pension fund registers profit with Coinbase stocks
"The National Pension Service (NPS) of South Korea, one of the world’s largest pension funds, acquired 282,673 shares of Coinbase (NASDAQ:COIN) in the third quarter of 2023, as revealed in a report to the U.S. Securities and Exchange Commission (SEC). The investment, initially worth around $19.9 million, appreciated by 39%, reaching $27.7 million. This purchase marks the first time NPS has invested in Coinbase, avoiding direct investments in cryptocurrencies due to their volatility. Despite previous criticism of crypto investments, NPS emphasized that its participation is limited to the exchange. Meanwhile, Coinbase shares have seen significant growth in 2023, despite the legal challenges faced by the company."
Crypto This Thursday: SEC Delays Hashdex, Grayscale ETFs, Binance Thailand Launch, and More
November 16 2023 - 01:35PM
IH Market News
Bitcoin faces a retreat after Wall Street opening
Bitcoin (COIN:BTCUSD), with a price of $36,407 in the last 24 hours, experienced a significant drop after the opening of Wall Street on November 16, repeating past price movement trends. There was a reduction of over $1,000 in a day, following previous patterns of lows and sell-offs. Market conditions and weakness in the US dollar are influencing the outlook, with the US Dollar Index (DXY) falling to near its lowest levels since September. According to Fernando Pereira from Bitget, current conditions favor a continued appreciation of Bitcoin in 2024. “The CPI, one of the key data related to the dollar’s inflation, showed that a deflation of the currency is happening. The market viewed this positively, and a lot of money flowed into the equity market, which pushed some exchanges worldwide close to their all-time highs. This is important because it removes the fear that investors had of higher interest rates. The scenario for Bitcoin to continue rising in 2024, I would say, is one of the best possible within the predicted conditions,” Pereira said in a message to ADVFN.
Dogecoin prepares for a space journey with Astrobotic
A physical Dogecoin token is scheduled to be sent to the moon by the company Astrobotic of Pittsburgh, as announced by the Dogecoin developers (COIN:DOGEUSD). Astrobotic plans to launch Dogecoin into space aboard the Vulcan Centaur Rocket by ULA, on the Peregrine Mission One (PM1) mission on December 23, 2023, a project funded by the Dogecoin community in 2015. In addition to Dogecoin, the mission will carry a Bitcoin token (COIN:BTCUSD) and a copy of the Bitcoin Genesis Block, at the request of BitMEX and Bitcoin Magazine, respectively. This space launch follows a previous SpaceX mission, entirely funded in DOGE, which was postponed to January 2024.
Jupiter announces airdrop to reward early users
Jupiter, a prominent decentralized exchange aggregator on Solana, has announced a retrospective airdrop to reward its early users. This program will distribute four billion Jupiter tokens, representing 40% of the total in circulation, in four phases. The first phase, starting next week, will allocate one billion tokens to users who traded a minimum of $1,000 on the protocol, benefiting approximately 955,000 wallets. The airdrop will feature different reward levels based on users’ swap volume and will include new participants in the future. The Jupiter platform, which consolidates liquidity from multiple Solana DEXs, recorded a notable volume of almost $1 billion in October 2021.
BlackRock moves forward with Ethereum ETF to expand cryptocurrency access
BlackRock (NYSE:BLK), recognized as the world’s largest asset manager, has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its iShares Ethereum Trust, an exchange-traded fund (ETF) based on Ether (COIN:ETHUSD). This initiative comes after the recent trademark registration and Nasdaq’s request for approval of a spot Bitcoin ETF. BlackRock’s moves reflect growing interest in cryptocurrency ETFs, such as the anticipated spot Bitcoin ETF, and indicate a change in CEO Larry Fink’s perception of the sector, now expressing support for cryptocurrencies.
SEC postpones decisions on conversion of Hashdex and Grayscale ETFs
The U.S. Securities and Exchange Commission (SEC) has delayed its decision on Hashdex’s proposal to convert its bitcoin futures exchange-traded fund (ETF) into a spot ETF. Simultaneously, the SEC is also postponing the verdict on Grayscale’s request to launch a new Ethereum futures-based ETF. Both companies, with Hashdex aiming to convert its bitcoin futures ETF and Grayscale, a subsidiary of the Digital Currency Group, proposing an Ethereum futures ETF, face delays following the extension of the initial decision deadline, which was November 17, as indicated in recent SEC filings.
Binance inaugurates exclusive exchange in Thailand through strategic partnership
Binance, the cryptocurrency giant, has announced the launch of a new exchange in Thailand, initially available by invitation only and expected to open to the general public next year. This initiative is a partnership with Gulf Innova, a subsidiary of Gulf Energy Development Pcl, led by billionaire Sarath Ratanavadi. The Gulf Binance Co. exchange has received approval from the Securities and Exchange Commission of Thailand to operate digital asset exchange and brokerage services. Binance has already contributed to police actions against cryptocurrency fraud in Thailand, reinforcing its influence in Asia. This year, in addition to Thailand, Binance has expanded its presence in Japan and Kazakhstan.
Korean pension fund registers profit with Coinbase stocks
The National Pension Service (NPS) of South Korea, one of the world’s largest pension funds, acquired 282,673 shares of Coinbase (NASDAQ:COIN) in the third quarter of 2023, as revealed in a report to the U.S. Securities and Exchange Commission (SEC). The investment, initially worth around $19.9 million, appreciated by 39%, reaching $27.7 million. This purchase marks the first time NPS has invested in Coinbase, avoiding direct investments in cryptocurrencies due to their volatility. Despite previous criticism of crypto investments, NPS emphasized that its participation is limited to the exchange. Meanwhile, Coinbase shares have seen significant growth in 2023, despite the legal challenges faced by the company.
Kyle Davies, co-founder of 3AC, allegedly located in Bali
Kyle Davies, co-founder of the now bankrupt cryptocurrency hedge fund Three Arrows Capital, has allegedly been spotted in Bali, evading authorities in Singapore. Reports indicate that Davies, identified in a local café by his clothing and accessories, appears to be living comfortably despite facing charges in Singapore. He and his partner, Su Zhu, are accused of not cooperating with bankruptcy investigations and face arrest. 3AC, which suffered massive financial losses, is considered one of the largest bankruptcies in the cryptocurrency sector. Zhu has already been arrested, while Davies remains free.
Montenegro court upholds prison sentence for Do Kwon
The Higher Court of Montenegro has confirmed a four-month prison sentence for Do Kwon, the founder of Terra, denying his appeal against conviction for document forgery. The decision, which also involves Han Chang-Joon, a Terra executive, follows a previous trial in a lower court. Kwon and his associate were arrested in Montenegro in March following the collapse of Terraform Labs. They remain in custody, awaiting possible extradition to South Korea or the United States. The Basic Court of Podgorica justified the sentence as an appropriate and necessary measure to prevent future crimes.
Fhenix introduces FHE rollups for confidential smart contracts
After securing $7 million in funding, Fhenix has released its white paper, presenting the revolutionary blockchain platform with fully homomorphic encryption (FHE). This system, called “FHE Rollups,” offers an innovative solution for executing smart contracts while maintaining confidentiality. By using advanced encryption, calculations can be performed on encrypted data, ensuring security and privacy. Integration with Ethereum, without the need for changes to its base layer, makes FHE Rollups a significant breakthrough, opening new possibilities for private and secure blockchain transactions.
G2A launches NFT marketplace for Web3 games
G2A, a prominent digital gaming marketplace, has expanded its offerings by launching a dedicated marketplace for non-fungible tokens (NFTs) related to Web3 games on November 15. This new venture aims to promote Web3 games and NFTs selected by the G2A team, offering gamers the opportunity to explore the blockchain gaming universe and buy or sell associated digital assets. G2A CEO Bartosz Skwarczek highlighted in a statement the growing familiarity of gamers with the blockchain gaming industry and involvement in NFT trading. “It has been discovered that gamers are quite familiar with the blockchain gaming industry, and a significant portion of them is already playing Web3 games and even engaging in NFT trading,” he said.
Philippines innovates with tokenized treasury bonds
In a pioneering move, the Department of the Treasury of the Philippines has announced the issuance of tokenized Treasury bonds, replacing a previously scheduled traditional auction. This initiative, aligned with the country’s financial modernization, aims to offer at least $180 million in one-year bonds to institutional buyers. Distributed ledger technology (DLT) will be used for execution, maintaining the official record on the blockchain system and the Scripless National Register of Securities. This step highlights the global trend of innovation in the bond market, following similar experiences in Hong Kong, Singapore, and elsewhere.
Leadership change at Dubai’s VARA in preparation for expansion in 2023
The Virtual Asset Regulatory Authority (VARA) of Dubai, focused on regulating cryptocurrencies, has announced a change in its leadership to drive larger-scale operations in 2023. Henson Orser, former CEO and former banker at Nomura Holdings, is passing the reins to Matthew White, a former PwC consultant. Orser, who played a crucial role in establishing the regulatory framework for the crypto space, will continue to support VARA as a consultant.
Singapore accelerates plans for CBDC
The Monetary Authority of Singapore (MAS) has announced the start of pilots to test the use of the Central Bank Digital Currency (CBDC) in wholesale operations. The initiative includes three main focuses: expanding CBDC testing in wholesale markets, infrastructure for Singapore’s digital dollar, and a live pilot of wholesale CBDC. This plan aims to promote innovation and security in the use of digital money, with MAS using the Orchid Project for the necessary technology.
Paxos advances with stablecoin project in Singapore
Paxos, a leading cryptocurrency infrastructure company, has received preliminary approval from the Monetary Authority of Singapore (MAS) to create Paxos Digital Singapore Pte. Ltd., a new entity focused on launching a US dollar-backed stablecoin. This initial approval allows Paxos to offer digital payment token services and plan the issuance of a stablecoin following MAS’s stablecoin guidelines. With full approval, Paxos will seek business partnerships in Singapore for the issuance of the stablecoin. The initiative follows MAS’s framework for regulating stablecoins and comes after Paxos’s experience in launching stablecoins, including PYUSD for PayPal (COIN:PYUSDUSD).
Turkey plans cryptocurrency regulation to exit FATF gray list
Turkey is formulating regulations for its growing cryptocurrency market, primarily focusing on licensing and taxation. This initiative aims to remove the country from the gray list of the Financial Action Task Force (FATF), where it ranks fourth in the world in crypto trade volume. According to Bora Erdamar of the BlockchainIST Center, the new rules will focus on strict licensing standards to prevent abuses and enhance digital security and reserve verification.
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/92585024/crypto-this-thursday-sec-delays-hashdex-grayscal
Jasmy's "Jasmy Personal Data Locker" and Cybertrust's "iTrust Identity Verification Service" collaborate to support public personal authentication in local currency and point services
~ Achieving strict online identity verification when creating an account for local currency/point services ~
Jasmy Co., Ltd.
November 16, 2023 11:00
Jasmy Co., Ltd. (Headquarters: Minato-ku, Tokyo, President and CEO: Kazumasa Sato, hereinafter referred to as "Jasmy") and Cybertrust, Inc. (Headquarters: Minato-ku, Tokyo, President and CEO: Yuji Kitamura, hereinafter referred to as "Cybertrust") are digital Cybertrust's trust service that promotes the digitization of business processes in business formations The iTrust Identity Verification Service from the iTrust series and the online storage personal information management system using blockchain technology provided by Jasmy. We are pleased to announce that our system "Jasmy Personal Data Locker (PDL)" has become service linked. By using the iTrust identity verification service to verify the user's identity when creating a user account on PDL and after creating the account, we will realize strict identity verification that can be completed online using public personal authentication. In particular, this collaboration is expected to be used in identity verification for local currency and point services promoted by local governments and organizations with member organizations.
¦Background of cooperation
In the Digital Garden City Nation Initiative *1 promoted by the government, initiatives are being promoted in which local governments utilize My Number Cards to manage local currency and local points through apps.
By using Jasmy's technology patent *2, which uses blockchain technology, it is possible to not only safely store personal information, but also to disclose anonymized and abstracted personal information to local governments. Masu.
By linking PDL and iTrust identity verification service, it will be possible to verify identity through public personal authentication using the electronic certificate built into the IC chip of the My Number Card. In the case of public personal authentication, identity verification can be completed online instantly by reading the My Number card using a smartphone app, further improving user convenience by reducing input effort and speedy identity verification. can.
In addition, by making it possible to conduct identity verification and address change confirmation online, which was previously done by mailing identity verification documents or using registered mail that does not require forwarding, service providers can improve the efficiency of various verification operations and reduce costs. It will come true. Cybertrust has been certified by the competent minister *3 and supports the realization of the Criminal Proceeds Act "Wa" *4 through public personal authentication using My Number cards.
Until now, various types of information held by individuals have been held and used by IT companies via Internet services. PDL is a platform that not only stores data safely, but also allows users, who own the data, to provide and share data while maintaining security. Through this, Jasmy will realize a user-oriented data utilization environment and new value creation that has not been possible before, and will spread the "democratization of data" to the world.
Cybertrust and Jasmy will improve user convenience and help improve business efficiency and reliability by enabling secure and rigorous digital verification of identity using public personal authentication. .
*1 What is the Digital Garden City Nation Concept: One of the important pillars of new capitalism, it aims to solve local social issues and make breakthroughs in improving the attractiveness of local areas while leveraging the uniqueness of each region through the use of digital technology. , is an initiative aimed at regional revitalization. https://www.cas.go.jp/jp/seisaku/digitaldenen/index.html
*2: If it is necessary to disclose the user's personal information (hereinafter referred to as "Primary Personally Identifiable Information") to the other party (company, national government, local government, etc.), it will be abstracted and anonymized as necessary. This makes it possible to create only unique information (hereinafter referred to as "Second Personally Identifiable Information") and provide it to the other party using blockchain technology.
Patent number: 7313642, title of invention: terminal device, information processing system and program
*3: Certified by the competent minister pursuant to the provisions of the Act on Authentication Operations of the Japan Local Government Information Systems Corporation regarding electronic signatures, etc. (Article 17, Paragraph 1, Item 6).
*4: A method of completing identity verification by reading the IC chip on the customer's My Number card with a smartphone and using the public personal authentication service provided by J-LIS.
¦Related websites
“iTrust Identity Verification Service” website: https://www.cybertrust.co.jp/identification/
· “Jasmy Personal Data Locker” website: https://www.jasmy.co.jp/pdl/overview/
· Cybertrust Co., Ltd. Press Release:
https://www.cybertrust.co.jp/pressrelease/2023/1116-jasmy-itrust.html
¦About Cybertrust Co., Ltd.
Cybertrust has been providing authentication and security services for over 20 years as Japan's first commercial electronic certification authority, as well as on-premises, cloud, and embedded areas that apply Miracle Linux's kernel technology and open source software (OSS) knowledge. We are developing Linux/OSS services for Linux/OSS. In addition, by combining these technologies and achievements, we are promoting services that support the reliability of our customers' services by proving the correctness of "people, things, and things" for cutting-edge fields such as IoT.
"Trust in all people, things, and things." Cybertrust realizes a safe and secure society with highly specialized and neutral technology related to IT infrastructure.
¦About Jasmy Co., Ltd.
Jasmy Co., Ltd. is a company that develops and provides IoT platforms. When all things are connected to the internet, the "clothing, food, shelter, and movement" that are closely connected to people's lives will change dramatically. Jasmy's mission is to create and provide a platform that allows anyone to use things easily, safely, and with peace of mind. Nowadays, important data generated from our daily lives tends to be monopolized by a limited number of companies. One of the purposes of the Jasmy Platform is to restore data sovereignty to the original owner and allow individual data to be used safely and securely. For this reason, Jasmy will combine IoT with blockchain technology and create a platform that can be widely used across industries and industries based on unprecedented ideas.
Jasmy's team is comprised of members with diverse and rich experience in electronics, mechanics, communications, devices, system integrators, designers, etc., and we provide the optimal IoT platform for each customer around the world.
Contact information regarding this release
Jasmy Co., Ltd.
Inquiry form: https://www.jasmy.co.jp/contact_company.html
Cybertrust Co., Ltd.
Public relations person: Shiina Noguchi
Email: press@cybertrust.co.jp
*The company names, product names, and service names mentioned in this press release are trademarks or registered trademarks of our company, each company, or each organization.
https://prtimes.jp/main/html/rd/p/000000059.000025296.html
https://www.jasmy.co.jp/
Apple challenges Maryland’s digital advertising tax
Wednesday, November 15, 2023 5:04 pm
Apple is challenging Maryland’s tax on digital advertising in a state tax court after previous legal challenges brought by other companies failed.
Pamela Wood for The Baltimore Banner:
The tax applies to companies based on the amount of money they make on ads that are shown to Marylanders…
Apple was the first to file an appeal to the Maryland Tax Court, and a hearing is set for Friday. But several other companies have followed with their own appeals in recent days: Google, Amazon Advertising, A9.com (a subsidiary of Amazon), Meta Platforms (parent company of Facebook and Instagram), Yahoo, Twitch, Snap, Microsoft Online, ABC, Peacock TV, IMDB.com, Grubhub and Catalina Marketing.
The tax, Apple argued in court filings, “singles out advertising services delivered over the Internet for taxation while advertising services delivered through other means are expressly excluded from taxation altogether.”
The tax is only paid by companies making at least $100 million per year globally from digital ads… The tax is also inappropriate, according to Apple, because the tax rate is determined largely by how much digital advertising business a company does outside of the state.
Apple argues that the digital ad tax violates multiple federal laws as well as state and federal constitutional protections regarding commerce and due process.
Apple is seeking to have the tax struck down and to be refunded for what it’s paid so far in taxes.
MacDailyNews Take: This unconstitutional tax should ultimately be ruled as such and the state of Maryland should then be forced to refund all taxes collected via this digital advertising state tax.
https://macdailynews.com/2023/11/15/apple-challenges-marylands-digital-advertising-tax/