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Amazon Is Working on Live Audio and Twitter Introducing Bitcoin Tipping in This Week’s Business and Crypto Roundup
Many brands are starting to see a recovery despite the challenges initially brought on by the pandemic. Some businesses, especially ones that focused efforts on expanding e-commerce ventures, have even seen profits rise even higher than before. HYPEBEAST has rounded up the top business and crypto stories of the week so you can stay in the know about trends across industries. Business 1. U.S. Federal Aviation Administration has grounded Virgin Galactic‘s SpaceShipTwo The FAA said it was investigating an incident that could have resulted in disaster. According to The New Yorker, two of the pilots aboard the July 11 spaceflight ignored warnings “that their flight path was too shallow and the nose of the ship was insufficiently vertical.” During Richard Branson’s space...
Binance pushes back against warning from South Africa regulator
In response to a warning from South Africa’s Financial Sector Conduct Authority, major cryptocurrency exchange Binance has said it is in compliance with local regulators and is not offering financial advice or intermediary services to residents. In a Friday statement from Binance, the crypto exchange implied the warning from the Financial Sector Conduct Authority, or FSCA, lacked authority because the group does not have the power to regulate “crypto-related investments” in South Africa. The exchange also pushed back against allegations that South Africans used the Binance South Africa Telegram group to access services for the crypto exchange, saying the online community promoted blockchain education, but did not provide financial advice or services. Though the FSCA is an agency of the Sou...
Price analysis 9/3: BTC, ETH, ADA, BNB, XRP, SOL, DOGE, DOT, UNI, LINK
Bitcoin (BTC) finally broke above the $50,500 resistance and Ether (ETH) has risen above the $4,000 mark. This suggests that there is growing interest in cryptocurrencies and several legacy finance companies are initiating steps to tap into this increasing demand. One of the world’s largest independent asset managers, Franklin Templeton, has posted fresh job applications for medium to senior-level positions in crypto trading and research, according to Linkedin job postings. Meanwhile, in Japan, financial conglomerate SBI Holdings is planning to set up one of the first crypto funds in the country by the end of November. Tomoya Asakura, the director and senior managing executive officer at SBI, said that the launch of a second fund will be explored depending on the success of the first one. ...
Banks vs. exchanges — regulators overwhelmingly penalize fiat, not crypto
While regulators have often targeted projects in and out of the crypto space, the fines levied against digital asset exchanges are a fraction of those against traditional financial institutions. According to data from Good Jobs First’s violation tracker, the platform analyzed 50 of the biggest fines regulators levied against major banks, investment firms, and brokers over the last 20 years. Bank of America accrued roughly $82 billion covering 251 different fines including securities violations, while JPMorgan Chase and Citigroup were also some of the most fined banks in the U.S. since 2000 with penalties totaling $35.9 billion and $25.5 billion, respectively. While both major banks and crypto exchanges have often been penalized for securities violations, data suggest that enforcement actio...
Altcoin Roundup: Time to rotate! Data suggests traders are shifting from NFTs to DeFi
An important part of preserving investing profits is knowing when an asset or sector is showing signs of exhaustion and when a sector rotation is underway. This is especially important in the rapidly moving cryptocurrency markets, which can change direction in a heartbeat and turn crypto millionaires into depressed bag holders. Most investors know that the nonfungible token (NFT) sector has been on fire since July, and as CryptoPunks, Mutant Ape Yacht Club and pet EtherRock NFTs fetched six- and seven-figure sums, while top NFT marketplace OpenSea surpassed $4 billion in total sales. While the frenzy has been exciting, many new projects have launched across a variety of blockchain networks, and the recent decline in transaction volumes could be a signal that investors are looking to ...
Drake Breaks Apple Music’s 2021 Records for Most-Streamed Album, Artist in a Day
Certified Lover Boy features a long list of top-tier collaborations, including appearances from Jay-Z, Lil Baby, 21 Savage, Lil Durk, Rick Ross, Ty Dolla $ign, Lil Wayne and Tems, among others. In the description for the project on Apple Music, Drake describes Certified Lover Boy as “a combination of toxic masculinity and acceptance of truth which is inevitably heartbreaking.” Apple Music has had two consecutive record-breaking weeks, with Kanye West’s latest album Donda breaking a long list of records on the platform, some of which may fall before the first week of Certified Lover Boy comes to a close. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful peopl...
Nicole Scherzinger Sued Over Pussycat Dolls Reunion
Scherzinger did promote the tour, it’s acknowledged in the complaint, but then the pandemic halted music touring worldwide. She “now refuses to participate in the tour,” states the complaint, adding she “demanded to renegotiate the terms of the MOU.” According to the complaint, Scherzinger now wants to be a 75% owner with final decision-making authority, and she’s refusing to participate in the reunion tour unless she gets what she wants. And now because tour dates can’t be confirmed, Live Nation is said to be demanding $600,000 that it put up. Because of COVID, tours are only slowly ramping up at this point, and this suit comes with a not extremely common claim of anticipatory breach of contract (along with other contract claims and one for fiduciary duty). Scherzi...
Bitcoin targets $51K ‘final resistance’ as ETH nears $4K for the first time since May
Bitcoin (BTC) passed $50,500 later on Friday as a return to the $50,000 mark put bulls firmly back on the scene. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin lines up a $51,000 offensive Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining ground after dipping to $48,300 lows overnight. An important retest, Bitcoin price action then reversed upward, giving hope that $50,000 may now be able to cement itself as support. Should that happen and $51,000 resistance fades, the chances favor an impulse move to the upside, Cointelegraph contributing analyst Michaël van de Poppe said. “The moment that Bitcoin is breaking out of this $51,000 level, the chances are that we just get one vertical candle towards $58,000, or even $60,000,” he predicted in his l...
Bitfinex Pay to integrate U2F authentication for online merchant payments
In an effort to increase customers’ security and privacy on its platform, cryptocurrency exchange Bitfinex has announced the adoption of open authentication standard universal second factor (U2F) within its merchant payments service, Bitfinex Pay. The move enables the capacity for online stores and merchants adopting the Bitfinex Pay widget to receive payments for goods and services in a range of crypto assets, including Bitcoin (BTC), Ether (ETH), Lightning Network BTC (LN-BTC) and Tether (USDT) on the Ethereum and Tron blockchains. Customers of a registered merchant can choose the “Pay with Bitfinex” option upon checkout. After a brief detour through the Bitfinex payment gateway, the customer will be returned to the merchant’s website. Once confirmed, payment will...
Mass appeal: Could a Bitcoin futures EFT electrify US investors?
Are crypto exchange-traded funds (ETFs) finally coming to the United States of America? Dozens of cryptocurrency-based ETFs or ETF-like products are currently selling on regulated exchanges in Europe, while Canada and Brazil have already introduced their own versions this year. Over the past eight years, however, not a single investment firm has won the U.S. Securities & Exchange Commission’s (SEC’s) approval for a cryptocurrency-backed ETF. The winds may now be shifting. “A futures-based Bitcoin ETF will be approved in the coming weeks, not months,” John Sarson, co-founder and CEO at Sarson Funds LLC, told Cointelegraph, adding that “the futures market for Bitcoin is now extremely well tested and very liquid at three years of age.” The outlook wasn’t nearly as promising a month ...
Bitcoin price overcomes $50K, stocks slide after disappointing US jobs report
The S&P 500 slid to the intraday highs of Sept. 2 while Bitcoin (BTC) climbed to its highest levels in more than three months. The moves came as a key report on Sept. 3 showed that the United States economy added fewer jobs than anticipated, lowering the Federal Reserve’s likelihood to start unwinding its stimulus program this year. The U.S. Bureau of Labor Statistics revealed that nonfarm payrolls (NFPs) grew by 235,000 in August, against expectations of 733,000 positions. Nevertheless, the unemployment rate inched lower to 5.2% from the previous month’s 5.4%. OUCH! US economy adds just 235,000 jobs vs 733k expected, slowest gain in 7mths amid Delta surge. At least prior mth revised higher to 1053k from 943k. The unemployment rate falls to 5.2% as expected. Average hourly ...
Biden hails ‘strong’ economic recovery despite disappointing jobs numbers
Biden laid blame for the sluggish growth of U.S. jobs on the “impact of the Delta variant” of the coronavirus. But he also claimed that his American Rescue Plan and vaccination strategy have helped buoy the economy even as the Delta variant has spurred a resurgence in the Covid-19 pandemic. “Because of the groundwork we laid with the American Rescue Plan and our vaccination strategy, we’re seeing an economy and job market that can weather the ups and downs of the Delta variant and anything else that comes our way,” he said. Biden largely focused during his Friday remarks on how well the economy is doing compared to last year, as well as how many jobs have been created overall since the start of his presidency. He also touted the more positive aspects of the August report, such as the...
