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Mark Zuckerberg Reportedly Loses Over $6 Billion USD After Massive Selloff
Mark Zuckerberg appears to have lost over $6 billion USD on Monday, according to Bloomberg‘s Billionaire Index, after Facebook experienced a global outage that also took out Instagram and WhatsApp for several hours. According to Bloomberg, the company’s stock fell by nearly 5% on Monday after a massive selloff, pushing Zuckerberg’s net worth down to $121.6 billion USD. According to the Index, this puts Zuckerberg below Microsoft‘s Bill Gates, LVMH‘s Bernard Arnault, former Amazon CEO Jeff Bezos and Tesla‘s Elon Musk. The selloff came after a series of leaks were published in the Wall Street Journal — dubbed The Facebook Files — that revealed Facebook’s acknowledgment of issues within its platform and its failure to resolve them. On Monday, former Facebook data scientist Frances H...
Silvergate Bank issues $100M credit line to mining firm Marathon Digital
Marathon Digital Holdings, a United States-based crypto mining company, has secured a $100 million revolving line of credit with Silvergate Bank using USD and Bitcoin. According to information provided by Marathon Digital, the mining firm obtained the $100 million credit line from the crypto-friendly bank on Friday. The company will use the credit to purchase Bitcoin (BTC) mining equipment and fund its mining operations. Marathon Digital said it expects Silvergate to renew the revolving line of credit annually after the initial one-year arrangement. In addition, Marathon Digital reported it had produced more than 1,252 BTC — roughly $59.5 million at the time of publication — during the third quarter of 2021, with 340.6 BTC minted in September alone— a 91% increase over Q2. The increase in ...
Axie Infinity hits a new ATH at $155 while Bitcoin bulls aim for $50K
The wider cryptocurrency market fell under pressure on Oct. 4 as the momentum generated by Bitcoin’s (BTC) weekend spike above $49,000 was overshadowed by more global concerns related to the global financial system, rising inflation and supply chain challenges. Despite these struggles, many altcoins managed to rally and at the time of writing, the crypto gaming and decentralized finance sectors continue to grow in popularity. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were Axie Infinity (AXS), PowerPool (CVP) and Polkastarter (POLS). Axie Infinity releases new character details Axie Infinity is a blockchain-based battle and collecting gam...
Bitcoin moves past $49K as Facebook, Instagram, and WhatsApp go down
Major social media and communication platforms Facebook, Instagram, and WhatsApp went offline Monday as the price of Bitcoin and other cryptocurrencies surged. As data from Cointelegraph Markets Pro shows, the Bitcoin (BTC) price moved above $49,000 after falling to a daily low of $47,166, an increase of roughly 4.5% in less than two hours. Similarly, the price of Ether (ETH) rose 3.5% over the same period to reach $3,411 at the time of publication. The sudden price volatility comes as major social media platform Facebook, photo and video sharing app Instagram, and messenger app WhatsApp — both owned by Facebook — went down at approximately 11:16 AM EST on Oct. 4. According to Facebook’s communications team, who communicated through Twitter, the company was “working to get thing...
Price analysis 10/4: BTC, ETH, BNB, ADA, SOL, XRP, DOT, DOGE, LUNA, UNI
Bitcoin (BTC) is facing rejection near $50,000, indicating that bears are not ready to give up without a fight. Many analysts expect Bitcoin to soar in the last quarter of the year and stock-to-flow model creator PlanB says the “worst-case scenario” for Bitcoin in October is $63,000 and $98,000 by November. PlanB is not alone in his bullish projection. Using Bitcoin’s relative strength index (RSI) indicator during the four-year cycle, Twitter commentator TechDev suggests that the second leg of the 2021 bull run may just be getting started. The trader expects Bitcoin’s cycle top to be around $200,000. Daily cryptocurrency market performance. Source: Coin360 While historical projections may be pointing for a rally in the last quarter, the rise may not be linear. The United States e...
Michelle Tigard Kammerer Named Amazon Music’s Head of Country Music
Kammerer launched her career at Creative Artists Agency, before joining Country Radio Broadcasters as senior director of brand marketing and strategic partnerships. In 2014, she helped re-launch Dot Records under Big Machine Label Group and was named national director of marketing and promotion. In 2017, Kammerer transitioned to the label group’s BMLG Records as senior national director of marketing and promotion, where she worked with artists including Florida Georgia Line, Brett Young and Lady A. She has also served on the board of directors for the Women’s Music Business Association, Society of Leaders in Development, Women Rock for the Cure and on the Country Radio Seminar Agenda Committee. Amazon Music recently shared that its Country Heat brand, which includes the Country...
Bitcoin got stronger despite government crackdowns, says Edward Snowden
Edward Snowden has touted the antifragility of Bitcoin (BTC) despite increasing regulatory scrutiny on cryptocurrencies around the world. Tweeting on Sunday, the former United States Central Intelligence Agency agent stated that Bitcoin has gotten stronger on the back of government bans and anti-crypto policies. Snowden’s tweet referenced remarks made back on March 13, 2020, amid the throes of the Black Thursday decline that saw crypto and equity markets tank amid fears of the coronavirus pandemic. As reported by Cointelegraph at the time, Snowden was unfazed by Bitcoin’s 50% drop, stating that it was the first time he “felt like buying Bitcoin.” “It’s up ~10x since, despite a coordinated global campaign by governments to undermine public understanding of—and support for—cryptocurrency,” S...
Colin McRae’s long-lost rally car reportedly sold for Bitcoin at auction
Bitcoin (BTC) adoption is growing in the auction world, where privacy is a key concern. An anonymous buyer purchased a legendary rally car driven by iconic rally figures Colin McRae and Carlos Sainz, which was thought to be long-lost in an auction for half a million Australian dollars ($360,000) and reportedly used Bitcoin as a payment method. Australian auction house Lloyds Auctions announced that the 1994 Subaru Prodrive 555 Group A World Rally Championship Car had been found in a barn, covered in dust, in the Victoria state of Australia. The car was originally thought to be valued at 15,000–20,000 Australian dollars ($10,900–$14,500). But a six-month investigation from the International Classic Automobile Authentication and Rating System (ICAARS) revealed that “it may well be worth more...
Valued at $4.3B, NFT platform Sorare to invest in women’s sports
Following a $680-million funding round, nonfungible token (NFT) marketplace Sorare is looking to be an active player in bridging the gap between sports and digital entertainment. Now valued at $4.3 billion, Sorare told Cointelegraph that the company plans to use the fresh capital to expand its business with new hires and partnerships, as well as support community-led programs. Besides working with community-led football programs aimed at helping young people from disadvantaged backgrounds and backing underprivileged entrepreneurs in sports and gaming, Sorare CEO Nicolas Julia explained via email that the NFT unicorn would also support female representation in sports. He said: “We believe that NFTs can significantly accelerate the development of women’s sports. We will actively invest in th...
Korean crypto exchange Upbit to halt withdrawals for unverified users
South Korean cryptocurrency exchange Upbit will soon halt services for unverified users. On Saturday, the company officially announced a set of changes to its customer verification system in compliance with South Korea’s mandatory Anti-Money Laundering (AML) requirements. According to the announcement, Upbit will start gradually limiting services for unverified users this week, restricting unverified customers from transacting more than 1 million Korean won ($850) at a time, effective Wednesday, Oct. 6. “Once customer verification is completed, the 1 million won limit will be lifted; members who submit an order with less than 1 million won can proceed with customer verification at any time,” the firm said. In a week after initial AML restrictions, Upbit plans to place more limits for ...
El Salvador to offer discount on fuel for payment with Bitcoin
Bukele called the fuel price rebate “positive news for the pockets of Salvadorans” El Salvador, the first country in the world to recognise Bitcoin as legal tender, has announced that local consumers who choose to pay with Bitcoin using the government-backed crypto wallet Chivo will receive a price reduction of $0.20 per gallon of petrol. The development can be viewed as an attempt to encourage Salvadorans to adopt Bitcoin as a mode of payment in order to improve participation and increase the impact of the country’s Bitcoin experiment. President Nayib Bukele took to Twitter to announce the subsidy, calling it “positive news for the pockets of Salvadorans.” He explained that Chivo has successfully negotiated with the most prominent petrol station companies in the country to enable the $0.2...
The Kid Laroi and Justin Bieber Extend Their ‘Stay’ Atop Australia’s Singles Chart
Fields holds off a pair of former leaders in Drake’s Certified Lover Boy (up 3-2 via Universal) and Olivia Rodrigo’s hit debut Sour (up 4-3 via Interscope/Universal), respectively. Melbourne country quartet Darlinghurst crack the Top 10 with their self-titled first album (via MGM), new at No. 9. Formed in 2019, the group was nominated for New Talent Of The Year at the 2021 Golden Guitars. Natalie Imbruglia makes her first chart appearance in more than six years, as Firebird flies in at No. 30. Firebird is the “Torn” singer’s first album of original material since 2009’s Come to Life, and her first release through a new deal with BMG. With their 12th week reigning over the ARIA Singles Chart, The Kid Laroi and Justin Bieber join some elite company. Only five singles have spent m...
