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R. Kelly Accuser Says in Tearful Testimony She Was ‘Trained’ to Please Singer as a Teen
“I went to Rob’s house and Rob called me ‘a silly bitch.’ Rob slapped me three times and said if I lied to him again it’s not going to be an open hand next time,” she read. “He spit in my face and in my mouth. He choked me during an argument. I had sex with him — oral sex with him. I became fed up with him and I went home and confessed.” Immediately after reading the the entry, Pace tearfully asked for a “bathroom break.” As the trial against Kelly entered its second day, at the prosecution’s request Pace detailed Kelly’s demands during their sexual encounters, at which time Pace was 16. “He wanted me to put my hair up in pigtails and dress like a Girl Scout,” she said. According to Pace, now 28, K...
Sierra Club culture tolerated ‘anger and aggression,’ report finds
The investigatory process, which had been underway since at least September 2020, found that the organization’s decentralization and use of “volunteers” to lead local chapters created major accountability problems, senior and favored leaders were often reassigned after complaints to keep them in the organization, and shoddy harassment and discrimination reporting procedures kept claims from being addressed. “One of the most prevalent themes we heard was that there was generally a culture at the Sierra Club that tolerated, excused, or failed to correct those managers and leaders who regularly displayed anger and aggression — yelling, berating, shaming, and otherwise demonstrating unprofessional and abusive behavior in the workplace,” the executive summary said. “It became clear that many of...
Crypto-friendly CFTC commissioner Brian Quintenz reportedly plans to step down
Brian Quintenz, who has served as one of the commissioners with the Commodity Futures Trading Commission, or CFTC, reportedly plans to leave the agency on Aug. 31. According to a Thursday report from the Wall Street Journal, Quintenz is expected to announce his move into the private sector after leaving the CFTC later this month. He hinted that his future career could include a focus on “innovation, particularly related to cryptocurrency and DeFi” and planned to continue advocating for the crypto space. Quintenz was first nominated to the position by President Barack Obama in March 2016 before being re-nominated by Trump in May 2017 and confirmed that August. His term at the CFTC was scheduled to end in April 2020, but he announced at that time he would stay “until the earlier of the confi...
Avalanche (AVAX) in ‘overbought’ zone after 100% gains in a week — Correction ahead?
The Avalanche blockchain platform’s native asset, AVAX, fell on Aug. 19 as traders decided to secure their profits from its 100% upside move. The AVAX/USD exchange rate plunged more than 16% after hitting a three-month high of $36.64, putting the brakes on a seven-day upside boom that saw its price rise by 111%. It appears that traders felt uneasy about entering AVAX markets near $36 because of its historical reference as a sell-off level, capping AVAX’s previous recovery attempts from March to May. Overvaluation risks AVAX also dropped on interim overvaluation fears. The daily relative strength index (RSI) of Avalanche’s token crossed above 70 during its upside boom. Essentially, markets consider an RSI reading above 70 as overbought for the underlying asset, noting...
Bitcoin gains strength as Friday’s $600M BTC options expiry approaches
Over the past seven days, Bitcoin (BTC) has failed to break through the $48,000 resistance, but its price has remained flat even as Minneapolis Federal Reserve Chairman Neel Kashkari bashed the industry. During an appearance at the Pacific NorthWest Economic Region Annual Summit on Aug. 17, Kashkari said: “So far, what I’ve seen is […] 95% fraud, hype, noise and confusion.” Moreover, Kashkari specifically targeted Bitcoin when hementioned that its only use case has been funding illicit activities. Even with the current pullback, Bitcoin investors should be glad that the $44,000 support held because the Federal Reserve also signaled its intent to unwind its $120-billion monthly purchases of Treasury and mortgage-backed securities. With less stimulus to support the markets,...
Polygon will create a decentralized autonomous organization
Ethereum scalability infrastructure developer Polygon said it will form a decentralized autonomous organization, or DAO, for all of its community members as well as projects in decentralized finance. In a Thursday announcement, Polygon called on its members to express their views on the platform forming a DAO. According to Polygon, it plans to create committees to promote discussion between projects including QuickSwap, Sushi, and Aave and others to “bring DeFi to the next million users.” “As the Polygon ecosystem grows, the committee members have a front-seat opportunity over others to increase cross-collaboration for their products,” said the project. “Voting for elections of new members could be implemented in multiple ways like by using staked MATIC on PoS or via the DAO tokenhol...
JPMorgan Chase reportedly shuts down bank accounts of Bitcoin mining firm
American banking giant JPMorgan Chase has reportedly blocked all account activities of Compass Mining, a Bitcoin (BTC) mining company based out of Delaware. The information came to light when Compass Mining CEO Whit Gibbs announced: “Shoutout to Chase for shutting down Compass Mining accounts for doing our part to replace the old guard with self-sovereign, future-focused supporters of hard money. Get behind #Bitcoin or get out of our way.” Compass Mining has been involved in offering mining rigs and hardware hosting services for Bitcoin mining. Under the pretext of supporting the Bitcoin hash rate and network, the company allows individual users to undertake mining operations via its private infrastructure. Cointelegraph has reached out to both parties for further comments and will update ...
Bitcoin slides with S&P 500 as Fed signals tapering $120B monthly bond purchases
Bitcoin (BTC) prices briefly fell below $44,000 on Thursday as the United States Dollar strengthened after the U.S. Federal Reserve policy minutes revealed its intentions to limit its bond-purchasing program this year. Bitcoin risks $45,000 becoming new resistance The spot BTC/USD rate dropped 1.71% to a new week-to-date low of $43,955. The pair’s plunge appeared as a part of a technical correction that started after it had reached a three-month high of $48,176 on Saturday, following a 64.42% price rally. Bitcoin daily price chart. Source: TradingView Bitcoin’s latest price decline also surfaced in line with a similar market bias on Wall Street. For instance, the benchmark S&P 500 index lost 47.81 points, or 1.1%, dropping to 4,400.27 during Wednesday’s final hours of tradin...
Dune Analytics opposes $25M Uniswap grant to competitor
Dune Analytics, a decentralized finance (DeFi) analytics service, has voiced its opposition to a Uniswap (UNI) governance vote for “Community-Enabled Analytics” that would see fellow analytics provider Flipside Crypto managing about $25 million worth of UNI tokens. Tweeting on Thursday, Dune highlighted the lack of community attention to the matter while also stating that grants should be given to community members and not to service providers. Indeed, the governance voting page for the proposal shows over 41 million votes in favor, against 2.5 million in opposition. The vote will end on Friday, Aug. 20 at 7:05 AM UTC+1. According to Dune, funding one single provider among several analytics platforms “makes no sense.” “There is no sense for @uniswap to fund @flipside’s daily operations wit...
Crypto.com partners with Italian football’s Lega Serie A
Digital asset exchange platform Crypto.com will be prominently featured in football matches during Italy’s Lega Serie A competition as part of a partnership with the league. In a Thursday announcement, Lega Serie A said Crypto.com was going to be presenting key broadcast moments for the Italian football competition “where technology enhances the match.” Specifically, the platform has formed a multi-year partnership to help present the series’ “goal of the month,” as well as broadcast moments using video playback to judge fouls and whether goals are legitimate. Crypto.com sponsored Lega Serie A in the Coppa Italia football cup in May, when it launched a nonfungible token, or NFT, offering for the event. The exchange said it planned to release more collections of NFTs as a result of the new ...
The Netherlands is latest to issue a warning against Binance
Binance has come under fire from regulators globally in recent months, and its troubles only seem to be increasing Leading crypto exchange Binance is facing numerous regulatory challenges despite the changes made to its business model in recent months. The list of regulators targeting the cryptocurrency exchange keeps growing, with the Dutch central bank now joining them. De Nederlandsche Bank (DNB) announced yesterday that Binance is offering services in the Netherlands without a licence. According to the central bank, Binance has not completed the necessary legal registration with the DNB. “This means Binance is not in compliance with the Anti-Money Laundering and Anti-Terrorist Financing Act (Wet ter voorkoming van witwassen en financieren van terrorisme – Wwft) and is illegally offerin...
NVIDIA Hits Record Second Quarter As Revenues Grow 68%
With incredible demand over the recent months for GPUs, NVIDIA has now recorded a record quarter over Q2 of 2021, seeing revenues soar 68 percent over the three-month period. In concrete numbers, total revenue for the quarter came in at $6.51 billion USD, with its Gaming division performing exceptionally well, seeing an 85 percent growth year over year to reach $3.06 billion USD. Its Data Center branch also did well, accounting for $2.37 billion USD after witnessing a 35 percent growth. Quarterly dividends paid reached $100 million USD, with its next dividend of $0.04 per share coming on September 23 to shareholders as of September 1. “NVIDIA’s pioneering work in accelerated computing continues to advance graphics, scientific computing and AI,” says company founder and CEO Jensen Huang, “E...
