$8 Billion Coinbase Faces Backlash for Latest Acquisition

Bitcoin exchange giant Coinbase has acquired Chainalysis competitor Neutrino in an effort to enhance its compliance efforts and regulatory relationships. Neutrino uses blockchain analytics to identify potential money laundering or other illegal transactions on the blockchain. Until its acquisition, it was one of a few companies growing in the space of analyzing blockchains. Its work mainly benefits crypto exchanges, regulators, and other centralized powers. According to Coinbase, companies like Chainalysis, Whitestream, and Elementus are “necessary” in an “open financial system.” “Blockchain intelligence is increasingly important in the crypto ecosystem, and is necessary to achieve our mission of bringing the open financial

The post $ 8 Billion Coinbase Faces Backlash for Latest Acquisition appeared first on CCN

News – CCN

Donald Trump, California Governor Feud over $3.5 Billion Bullet Train Project – Is the President Right?

California’s bullet train project is the latest thorn that’s nagging U.S. President Donald Trump. In a tweet, Trump claimed that California had canceled the bullet train project after wasting ‘billions of dollars’. He then demanded that the Golden State refund the $ 3.5 billion that the federal government had allocated to the project. The federal funds for the 220 mph train project were awarded nine years ago. California has been forced to cancel the massive bullet train project after having spent and wasted many billions of dollars. They owe the Federal Government three and a half billion dollars. We want that

The post Donald Trump, California Governor Feud over $ 3.5 Billion Bullet Train Project – Is the President Right? appeared first on CCN

News – CCN

Crypo Market Defends $120 Billion Mark But Bitcoin Price Takes Losses

Bitcoin and the other top 5 cryptocurrency assets suffered insignificant losses through the 24-hour period, but they were all in the red. Globally speaking, the only top 10 crypto to see a gain during the period was Tether, which indicates a good deal of selling took place. Litecoin continued its trend of daily volume exceeding $ 1 billion. Bitcoin Drops Below $ 3,600 on Coinbase Bitcoin lost less than 1% over the 24-hour period in a global manner of speaking. At Coinbase, the usual loss leader and retail trading final boss, the flagship cryptocurrency trades around $ 3,570 at press time. Overall volume

The post Crypo Market Defends $ 120 Billion Mark But Bitcoin Price Takes Losses appeared first on CCN

News – CCN

Why Amazon is on the Verge of Absolutely Upending These 4 Markets Worth $220 Billion

There be no shelter from Amazon. The retail titan is rapidly expanding in so many directions that its front lines of competition are everywhere. Amazon is currently sending shockwaves through four different markets totaling $ 220 billion in value. Two of them are underway, one is a threat, and one is an opportunity. The fourth is a literal game-changing move, given that Amazon is making bold advancements in video games. Jeff Bezos Tabloid Drama is a Distraction Over at The Washington Post, Elizabeth Dwoskin asks: Does Jeff Bezos’ behavior put Amazon at risk? She says: “Jeffrey P. Bezos’s alleged explicit selfies

The post Why Amazon is on the Verge of Absolutely Upending These 4 Markets Worth $ 220 Billion appeared first on CCN

News – CCN

Crypto Rallies: EOS Surges 10% With Exceptional Strength to Hit $2.6 Billion Market Cap

In the last 24 hours, the EOS price has surged from $ 2.71 to $ 3.06 by more than 10 percent against the U.S. dollar, reclaiming its position as the 4th largest crypto behind Bitcoin, Ethereum, and Ripple. Last week, Litecoin overtook EOS following a strong 30 percent increase in price. The surge in the price of Litecoin was mainly attributed to fundamental factors that include active development of privacy solutions Mimblewimble and Confidential Transactions. Fueled by the momentum demonstrated by several major crypto assets in the likes of EOS, Ethereum, and Ripple, the valuation of the crypto market rose $ 2 billion

The post Crypto Rallies: EOS Surges 10% With Exceptional Strength to Hit $ 2.6 Billion Market Cap appeared first on CCN

News – CCN

Will Tencent’s Massive Investment Help $3 Billion Reddit Take Down Facebook & Google’s Ad Duopoly?

American social news aggregation site Reddit has raised $ 300 million in a Series D funding round at a market valuation of $ 3 billion. The capital injection was led by Chinese multinational conglomerate Tencent Holdings who invested $ 150 million into the social site. So far, Reddit has raised $ 550 million in total from a myriad of investors including Sequoia, Fidelity, and Andreessen Horowitz. Are Reddit and Tencent Strange Bedfellows? The deal has led to an outrage online as Redditors are protesting the odd pairing of the Chinese juggernaut who is known for censoring topics the government wants and the free-speech forum,

The post Will Tencent’s Massive Investment Help $ 3 Billion Reddit Take Down Facebook & Google’s Ad Duopoly? appeared first on CCN

News – CCN

Indians Lost $2.3 Billion in Remittance Payments in 2018; Can Bitcoin Help with Near-Zero Fees?

According to The Times of India, money transfers cost citizens and non-residents over $ 2.3 billion in fees last year for clearing payments into India, the world’s biggest market for inward remittance. Nischal Shetty, the CEO of local Bitcoin exchange WazirX, said that the dominant cryptocurrency could bring down remittance costs to near zero. Dear @arunjaitley @narendramodi Rs. 15,000 crores. That's just remittance fees paid by Indians in a year. Crypto has the potential to bring down this cost to almost Zero. All this money could go to the people. Let's join the revolution & find solutions #IndiaWantsCrypto pic.twitter.com/zeNZ6FQgw7 — Nischal

The post Indians Lost $ 2.3 Billion in Remittance Payments in 2018; Can Bitcoin Help with Near-Zero Fees? appeared first on CCN

News – CCN

Why Uber’s Largest Investor Just Plowed Almost $1 Billion into Autonomous Vehicle Startup Nuro

SoftBank has a lot of faith in a startup called Nuro that wants to use autonomous vehicles to disrupt the grocery delivery space. Nuro just banked almost $ 1 billion from the multinational holding conglomerate to make that happen. Major Uber Shareholder Throws $ 940 Million at Autonomous Vehicle Creator The Japan-based SoftBank — best known as Uber’s largest shareholder — is investing $ 940 million into the robotic-delivery vehicle startup. The investment pushes the Mountain View, Calif.-based company’s valuation to $ 2.7 billion. According to Reuters, SoftBank’s funding came through its $ 100 billion Vision Fund, which usually picks up big stakes in fast-growing technology companies.

The post Why Uber’s Largest Investor Just Plowed Almost $ 1 Billion into Autonomous Vehicle Startup Nuro appeared first on CCN

News – CCN

Facebook is so Dominant it Earned $5 Billion in China in 2018 – a Country Where It’s Banned

In what can only be further evidence of the global reach of Facebook, reports show that the social media platform earned $ 5 billion in revenue from China. Yet Facebook has been prohibited in China since 2009. Facebook’s Fifth Largest Market, Surprisingly, is China According to reporting by TheStreet and a research note from Pivotal, it’s estimated that Facebook made anywhere between $ 5 billion and $ 7 billion from Chinese advertisers. This figure is about 10% of Facebook’s 2018 revenue. Facebook’s 2018 filing confirms that revenue came from resellers “representing advertisers” based in China. Facebook apparently has an unofficial Chinese office, through

The post Facebook is so Dominant it Earned $ 5 Billion in China in 2018 – a Country Where It’s Banned appeared first on CCN

News – CCN