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Multi-billion dollar asset management company buys Bitcoin as price drops below $ 30,000: Bitcoin



A community dedicated to Bitcoin, the Internet currency. Bitcoin is a decentralized digital currency, distributed around the world. Bitcoins are issued and managed without any central authority: there is no government, company or bank in charge of Bitcoin. You might be interested in Bitcoin if you are into cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, although people of all political philosophies are welcome.



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Robinhood abandons IPO traditions again



Robinhood Markets Inc. has reshaped the way small traders buy and sell stocks. Now he’s trying to get them to invest in companies that go public, including his own stocks.

The company that popularized free trade made its case to investors of all kinds in a presentation that aired live on Saturday. While this type of event, known as a roadshow, is typically limited to hedge funds and other institutions before an initial public offering, Robinhood has taken the unusual step of making its presentation accessible to everyone.

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It’s the latest way Robinhood defies convention as it advances to a public debut not quite like the others. The company reserves up to 35% of its shares for its own app traders, who would normally wait until they start trading on an exchange to buy them – potentially at a price higher than the current target range of $ 38 to $ 42. . The company is expected to start trading on the Nasdaq stock market on July 29, according to people with knowledge of the matter.

“We expect this to be one of the largest retail allocations ever made,” said Vlad Tenev, CEO of Robinhood, sitting together on a white sofa with the company’s management team as they answered questions. customers on its business model and how it plans to grow. “It’s a very special moment and we are touched.”

Tenev added that Robinhood was open to the idea of ​​offering retirement accounts such as IRAs and Roth IRAs.

“We want to turn new investors into long-term investors,” he said.

Jason Warnick, the company’s chief financial officer, discussed payment for order flow – a practice in which brokerages send client orders to trading companies like Citadel Securities to be executed and receive payments. in return. Robinhood derives the majority of its income from these payments, which are common but controversial because they raise questions about conflicts of interest.

“If a ban or other limitations were to be imposed, we believe Robinhood and the industry would adapt,” Warnick said.

Robinhood’s debut will test its investor-centric message of “democratizing finance”. If stocks soar, it would enrich its traders and generate goodwill after repeated run-ins with regulators. Anything less could be another headache for a company that has convinced young investors to get into stock trading.

Right now, the Menlo Park, California-based brokerage is striving to achieve a valuation of up to $ 35 billion. The company is looking to raise around $ 2 billion and will trade under the symbol HOOD.

© 2021 Bloomberg LP



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Supposedly shadow of smoke from other wildfires helps crews fight America’s biggest blaze By Reuters




By Rich McKay

(Reuters) – Dozens of wildfires raging through the forest and brush of the western United States have spewed so much smoke they’re helping an army of firefighters gain ground in the biggest blaze across the country, the Bootleg fire in Oregon, blocking sunlight, officials said on Saturday.

The National Weather Service and Oregon Department of Forestry officials said smoke in the lower atmosphere from California wildfires floated above the Bootleg fire, which burned more than 401 000 acres in Oregon about 250 miles (402 km) south of Portland.

“It’s called ‘smoke shading’ and it basically puts a lid on the lower atmosphere for now, blocking out sunlight and creating cooler, more stable surface conditions,” he said. said Eric Schoening, meteorologist with the National Weather Service in Salt Lake City.

The phenomenon is unpredictable and the region is still the subject of red flag warnings this weekend from the NWS, which said the Pacific Northwest could experience high temperatures and gusts of wind that can fan the flames and spread sparks and hot embers.

Schoening said the weather is a “mixed bag” in terms of helping firefighters.

Marcus Kauffman, spokesman for the Oregon Department of Forestry, said the downside to the “smoke shadow” is that it makes it more difficult to fly airplanes and helicopters that drop air. water and even chemical fire extinguishers “while helping the ground crew.”

An army of more than 2,000 firefighters and support teams had contained about 42% of the blaze on Saturday, although the blaze had passed through containment lines the night before, he said.

“We lost 1,600 acres last night,” Kauffman said.

The Bootleg Fire is one of more than 80 large active wildfires in 13 states that have charred about 1.3 million acres (526,090 hectares) in recent weeks, an area larger than Delaware, according to the National Interagency Fire Center (NIFC) in Boise, Idaho. .

The smoke, while helping Oregon firefighters, has recently been carried by the jet stream and other air currents to the northeastern cities of New York and Boston, where some residents felt the air contamination in their eyes, noses and lungs.

Warning: Fusion media would like to remind you that the data contained in this site is not necessarily real time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by the exchanges but rather by market makers. Therefore, the prices may not be exact and differ from the actual market price, which means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media assumes no responsibility for any business losses that you may incur as a result of the use of such data.

Fusion media or anyone involved with Fusion Media will accept no responsibility for any loss or damage resulting from reliance on any information, including data, quotes, graphics and buy / sell signals contained in this website. Please be fully informed about the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investing possible.





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Beware of the Internet computer: Bitcoin



A community dedicated to Bitcoin, the Internet currency. Bitcoin is a decentralized digital currency, distributed around the world. Bitcoins are issued and managed without any central authority: there is no government, company or bank in charge of Bitcoin. You might be interested in Bitcoin if you are into cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, although people of all political philosophies are welcome.



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Three U.S. States Tackle BlockFi Amid Regulatory Crackdown



New Jersey, Texas and Alabama have individual state regulators who are concerned that New Jersey-based DeFi company BlockFi may offer unregistered titles. Regulators seem particularly to point the finger at BlockFi’s Interest Account (BIA), which offers rates consumers are now accustomed to in DeFi – but which blew up traditional bank rates.

The “Three Insolites”

Crypto, in its relatively early emergence in regulatory discussions and broader adoption, has been widely seen as a somewhat bipartisan subject. Which makes the three states chasing BlockFi a particularly unusual trio. New Jersey, the home state of the company and traditionally a very democratic state, is arguably the most aggressive of the three states making claims against the company. New Jersey ordered BlockFi to stop offering its BIA product to state residents by July 29, according to a recent cease and desist of the State Securities Office.

Texas, a state traditionally ruled by Republicans, has also issued a cease and desist with a hearing date currently set for October. The document also cites BIAs as a concern, stating that BlockFi “partially illegally finances its lending and proprietary trading through the sale of unregistered securities in the form of cryptocurrency-paid accounts.”

Finally, we have another Republican-led state in Alabama that issues a ‘Display the cause of the order‘at BlockFi last week. The company now has less than 30 days to show the state’s securities commission why it shouldn’t be issued a ban on selling unregistered securities. The supporting document suggests that BIAs should be registered with the applicable securities regulatory authorities.

It’s becoming pretty clear, at least in the case of BlockFi recently, that regulatory hurdles don’t live on one particular side of the political aisle.

Bitcoin's can be deposited into BlockFi's BIA product to yield substantial interest-bearing returns.  | Source: BTC-USD on TradingView.com

Related reading | Uniswap limits access to certain tokens, which could mean for the DeFi industry

Is DeFi in trouble?

BlockFi released a recent response statement in a tweet who said the company wholeheartedly believes its BIAs are “legal and appropriate for participants in the crypto market,” adding that the company welcomes “discussions with regulators and believes appropriate regulation of this industry is the key to its future success ”.

It is difficult to say the impacts at such an early stage of aggressive regulatory attacks on DeFi, especially since among the major players in the yield-generating space, only BlockFi is highlighted here. Will other states join these three and will BlockFi’s main competitors start to face challenges as well? Or are these state regulators just cracking a proverbial whip – or are there enough substantial differences in the way BlockFi’s competitors, such as Nexo or Celsius, fund their interest-bearing accounts that allow them to ‘absorb less regulatory risk? Either way, it becomes very clear that the relatively rapid success of crypto, coupled with slow federal decision-making, will leave emerging companies – but hopefully forward-thinking consumers – with some inherent challenges. .

Related reading | Tether to audit to deny transparency claims

Featured image from Pixabay, Charts from TradingView.com





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Daily Discussion, July 25, 2021: Bitcoin



Please use this sticky yarn for all generals Bitcoin debate ! If you see any messages on the home page or r / Bitcoin/ new which are more suitable for this daily thread, please help us by directing the OP to this thread instead. Thank you!

If you don’t get your question answered, you can try wording it differently or commenting again tomorrow.

Join us in the r / Bitcoin chat room!

Please check the previous thread for unanswered questions.



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Strategist Mike McGlone Believes Bitcoin May Break To $ 60,000 Resistance Against $ 20,000 Support – Bitcoin Planet Markets and Prices



Bloomberg Intelligence Senior Commodity Strategist Mike McGlone has long been using bitcoin for some time now and he said last month that bitcoin has a “bullish ace up its sleeve.” This week, the strategist’s analysis notes that bitcoin prices will likely return to the $ 60,000 grip, as opposed to the $ 20,000 support range.

ETF analyst: “China does not reject Bitcoin, Bitcoin rejects China”

On July 23, Bloomberg’s Senior Exchange Traded Funds (ETF) Analyst Eric Balchunas shared a screenshot of Mike McGlone’s written statement regarding current bitcoin markets. After hitting a high of $ 35,960 on July 4, the main crypto asset fell to a low of $ 29,300 per unit 19 days later. July 24, Bitcoin (BTC) managed to go back to the $ 34K region because there has been a slight trend reversal in the last 48 hours.

“Our crypto analyst Mike McGlone says bitcoin [is] more likely to reach $ 60,000 than $ 20,000 based on historical price models, ”Balchunas tweeted Friday. “[McGlone] Also says China’s rejection of open source software crypto assets could mark [a] tray in [the] the country’s economic rise, ”Balchunas added. A few people responded to McGlone’s point of view and one person noted:

It’s a hot take on China. Rejecting things like this usually shows a fear that something is better than your own currency. All countries that reject Bitcoin ARE SHOUTING the same thing.

Balchunas responded to comment and said it reminded him of old jokes. “It reminds me of Chuck Norris jokes for some reason. China is not rejecting bitcoin, bitcoin is rejecting China, ”Balchunas said.

McGlone: ​​”A Bitcoin Market Similar To The 2018-2019 Consolidation Period”

Regarding McGlone Bitcoin (BTC) price predictions are affected, the ETF analyst’s screenshot of McGlone’s outlook said:

Bitcoin is more likely to return to $ 60,000 resistance against $ 20,000 support, if its history of recovery from similar too cold conditions is any guide. Our chart shows the benchmark crypto similar to the 2018-2019 consolidation period of around $ 4,000, just before the launch of the 2019 peak at around $ 14,000. Bears more focused on tactical trading seem to proliferate when Bitcoin holds around 30% of the threshold below its 20-week moving average, allowing time for buy and hold types to pile up.

Besides China, regulators have been crack down on cryptocurrency operations global. Government officials in Europe want to ban anonymous transactions and the European Commission has law Project to “ensure full traceability of crypto-asset transfers”.

In addition to the regulatory climate, global markets, in general, are a shaken touch by the narrative surrounding the Covid Delta variant. While many people who responded to Balchunas’ Twitter feed agreed with McGlone, one person said he only agreed with a specific part of the statement where he said bitcoin is more. likely to reach $ 60,000 as $ 20,000.

This isn’t the first time McGlone has made such predictions regarding bitcoinsthe future price of. Last month, the senior commodities strategist noted “$ 40,000 seems more likely than $ 20,000” and the last call for $ 60,000 is much more optimistic.

What do you think of Mike McGlone’s bitcoin price outlook? Let us know what you think of this topic in the comments section below.

Tags in this story

Bearish, Bitcoin, Bitcoin (BTC), Bloomberg Analyst, BTC, Bull market, Bullish, Graphics, China, Cryptocurrency, delta-variant, Economy, Eric Balchunas, European Commission, Finance, Marlet, Markets, Mike McGlone, Prices, resistance, strategist, Support

Image credits: Shutterstock, Pixabay, Wiki Commons

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How to smartly invest in crypto as a retail investor (from a VC): Bitcoin



A community dedicated to Bitcoin, the Internet currency. Bitcoin is a decentralized digital currency, distributed around the world. Bitcoins are issued and managed without any central authority: there is no government, company or bank in charge of Bitcoin. You might be interested in Bitcoin if you are into cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, although people of all political philosophies are welcome.



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