Author: pratiti

The cryptocurrency trading platform Radkl has found a new supporter in billionaire Steve Cohen. As per sources, the Point 72 Asset Management founder is backing the firm personally. On Tuesday several, the Wall Street Journal reported Cohen is investing in Radkl. It’s a quantitative trading firm solely intended for cryptocurrency and other such digital assets trading. New York-based trade giant GTS is the team behind Radkl. Although Cohen hasn’t disclosed his stake as of now, it’s likely to be substantial. He isn’t part of any daily operational activity of the platform. Institutionalizing the Crypto Market Cohen believes in institutionalizing the…

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The Asia Pacific telecommunications service provider, MyRepublic has reported a data breach recently. The company provides service in Australia, Singapore and New Zealand, where customers might be at risk. On August 29, unauthorized data access happened in MyRepublic, which the company is investigating to support the affected customers. The data breach has affected a third party storage platform where customers personal data were stored. The company has secured the storage facility, thus containing the incident. The relevant authorities in the Personal Data Protection Commission and the Infocomm Media Development Authority are investigating the matter. External Experts Assessing the Matter Meanwhile,…

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A fake press release about Walmart accepting Litecoin has sent the cryptocurrency market topsy-turvy, with prices falling sharply on Monday. The press release published on GlobeNewswire around 9:30 am US time revealed that Walmart will be adopting the 16th largest cryptocurrency by market capitalization size from 1st October. The company is presently searching for the origin of the hoax along with the press release distributor. However, the retail giant did advertise for a blockchain and cryptocurrency job opening some time back. The Pay With Litecoin Option news generated so much traction that even Litecoin fell for it and tweeted in…

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The Attorney General of Columbia has brought fresh trouble for Amazon as the tech giant face extended antitrust claims from an earlier case. The May lawsuit dealt with Amazon’s policy of restricting third-party sellers from offering their services from other websites. This violated the Columbia Antitrust law. Sellers Insulated from Marketplaces The case was amended back then. Karl Racine, the Attorney General of Washington DC, revealed on Monday that Amazon made anti-competitive agreements with wholesalers to resell their products on their platform. They are insulating these third party sellers from the marketplace by restricting them to Amazon. Amazon gets a…

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The pandemic is proving a tough time for the aviation industry, especially in the aftermath of the delta variant spread as airlines continue to go deep into debt. The industry now has $340 billion debt, a 23% increase since last year. Airlines are scrambling to stay afloat as travel remains restricted, selling shares, bonds, and loans. The latest to join the bandwagon is the UK brand EasyJet and the Japan Airlines Co, which have started fundraising plans. So, the major players in the industry have raised $63 billion this way, but that might not be enough to keep them in…

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Apple suffered a major setback today as its App Store rules were deemed ‘anticompetitive’ by a US Federal Judge. This comes at time when Apple had to relax their stringent policies after Japan called it anticompetitive. This particular case had the creator of Epic Games, Fortnite win the lawsuit in their favor over Apple’s restrictive payment policies. At present, the tech giant doesn’t allow users to make payments through other websites and credit cards on Apps. The App store doesn’t allow subscription and other notifications from third party websites. The tech giant considers it to be a security and privacy…

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A lot has been going in the bitcoin market this week. First was the surge to $50k resistance level and then came the El Salvador bitcoin currency adoption. Despite all this, the cryptocurrency is not out of the woods yet as global central bankers issued utility and volatility warnings about Bitcoin. Stefan Ingves, the Riksbank Governor said that Bitcoin’s -0.83% staying in power is dubious without government backing. Ingves highlighted how fragile private money is as it is collapses frequently. A thing that we witnessed this week when the market went topsy-turvy over El Salvador’s cryptocurrency adoption. Ingves is of…

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As Tesla stocks soared for the third consecutive week, traders sold their stocks. The latest to join is Cathie Wood who sold shares worth $139 million Wood’s exchange traded funds sold around 180k shares in the last 2 days. Her companies the ARK Innovation, ARK Next Generation Internet and ARK Autonomous Technology & Robotics ETFs made a huge profit with this move. This included ARK’s 3% stake in Tesla worth $4billion. ARK is one of the key holders in Tesla, being amongst its top 20 stakeholders. The company has a habit of taking advantage of winning positions to withdraw cash.…

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Former Theranos CEO Elizabeth Holmes cheated and lied to dupe investors, says prosecutors after a wide variety of fraud portrayals came up in the trial. The 37 year old is staring at a 2 decade prison charge if convicted in the 13 week trial. There are 2 cases of wire fraud conspiracy and 10 cases of wire fraud against her Holmes captivated the Silicon Valley with amazing biotech breakthrough ideas that didn’t materialize Hardworking Woman or A Cheat? She has duped both the investors and the patients, said the federal prosecutors. Assistant US Attorney Robert Leach called it a crime…

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Ford Motor Co. FN has announced that they will be quitting the India market as it is dominated by Asian players. It didn’t offer much manufacturing scope, said the company. According to Reuters sources, the US automaker will shut down all their Indian plants. Thereby, stopping all car manufacturing in the country. The company wasn’t making any profit in India. Hence, they decided to shut down all manufacturing activity which will be implemented in a year. Despite being in the Indian market for more than 2 decades, the company barely made a mark. Their share in the passenger vehicles market is less than 2%. Indian Market Rides on…

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