marketcrash
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News & Articles By Franz Walker
05/13/2021
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By Franz Walker
Tesla reports record quarterly net profit bolstered by bitcoin sales
Automaker Tesla reported a quarterly net profit of $438 million on a GAAP (Generally Accepted Accounting Principles) basis on Monday, April 26. A good chunk of this profit came not from car sales or federal credits but from sales of bitcoin during the quarter, which contributed $101 million to the company’s bottom line. The $438 million represents […]
05/11/2021
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By Franz Walker
Crypto exchange Coinbase experienced a rocky stock market debut
Stocks of Coinbase seesawed on April 15 following its trading debut as markets struggled to place a value on America’s biggest cryptocurrency exchange. Shares initially spiked as much as 6.4 percent, though a choppy session eventually saw shares close at 1.7 percent at $322.75. All in all, nearly 40 million Coinbase shares changed hands during Thursday’s […]
05/04/2021
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By Franz Walker
Flash crash causes bitcoin, other cryptos to plunge, “washout” imminent says expert
Cryptocurrencies, especially bitcoin, were hit by a sudden flash crash early on the morning of Sunday, April 18, tanking prices. The plunge, which wiped out around $300 million from the broader crypto market, has caused one expert to warn of a “washout” ahead. The price of bitcoin, which had been on a downward trend for […]
02/25/2021
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By Franz Walker
Japan’s Nikkei has finally recovered from the 1989 crash… it took over 30 years
Following decades of economic stagnation, Japan’s stock market has finally reached levels not seen since the tail end of the bubble economy years. The country’s benchmark Nikkei stock average topped 30,000 first the first time in 30 years on Monday, Feb. 15. The 225-issue Nikkei average soared 564.08 points, or 1.91 percent to close at […]
02/05/2021
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By Franz Walker
Millionaires locked out of their Bitcoin fortunes due to lost passwords
A San Francisco-based programmer who owns $220 million worth of bitcoins is now unable to access his money because he lost his password. While this doesn’t seem like that big a story, especially with how easy it can be to recover passwords with most services these days, Bitcoin’s decentralized nature complicates things for Stefan Thomas. Unlike […]
02/02/2021
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By Franz Walker
“Shadowy” New York financial institutions pressured Robinhood to restrict GameStop stock trading
When Robinhood restricted the trading of certain stocks on its platform last week, it stated that it was to protect the firm and its customers. But a new report shows that it actually did so at the behest of a “shadowy” group of New York financial institutions. According to a report by Blacklisted News, Robinhood halted the […]
10/22/2020
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By Franz Walker
Robinhood users accounts hacked, looted
On Friday, Oct. 9, fintech startup Robinhood Markets announced that some of its customers might have been targetted by hackers. According to a company spokesperson, the issue did not come from a breach in its systems, but users’ personal accounts being compromised outside its platform. Robinhood, which has helped popularize trading among millennials thanks to its “zero-cost” […]
09/11/2020
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By Franz Walker
California started sending out FEMA-funded unemployment payments on Labor Day
On September 7, Labor Day, California started sending out unemployment payments of $900 each to 3.1 million eligible claimants, drawn from the Federal Emergency Management Agency (FEMA). The California Employment Development Department (EDD), which handles state and federal unemployment claims for California, is sending out three weekly payments of $300 under the Federal Lost Wages Assistance program, as authorized […]
08/28/2020
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By Franz Walker
South Korea’s third-largest cryptocurrency exchange seized due to allegations of extreme fraud
South Korean police have seized Coinbit, one of the country’s largest cryptocurrency exchanges, following allegations that it was involved in fraud and wash trading. According to a report by the Seoul Shinmum, the Seoul Metropolitan Investigation Department searched and seized several of the company’s premises, including its headquarters in Seoul’s Gangnam district. This came following reports […]
08/06/2020
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By Franz Walker
Investors are shunning the dollar and turning to gold
The price of gold hit an all-time high this past Wednesday. A weakening dollar injected new momentum into a rally initially driven by uncertainty about the world economy. Prices of the yellow metal have risen for 13 of the past 14 days. A 1.1 percent gain led it to an all-time high of $2,040 a troy ounce. In […]
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