12bit trade

Coinspeaker Dow Jones Plunged over 850 Points on Tuesday in Its Deadliest Crash since 2008The global economy is on a toss with the rising cases of coronavirus outside China. So far, over 80,000 people globally are reportedly infected with the COVID-19 virus. The situation got worse this week after South Korea and Italy reported a massive surge in the infected cases last Sunday.The reaction of the global markets to this news was obvious. Markets all across Asia, Europe, and the U.S. plunged severely on Monday. The Dow Jones continued its losses for a second straight on Tuesday.Dow Jones closed Tuesday’s trading session with a massive 3.15% drop i.e. tanking over 850 points in a single session. This has been the ugliest crash of Dow Jones in the last decade after 2008. If we look at the chart, Dow Jones has lost nearly 2000 points in just the last two trading sessions.The alarming spread of the coronavirus has certainly caught the attention of global leaders alike. U.S. President Donald Trump tweeted on Tuesday saying that his administration is taking all measures possible to contain the virus spread.CDC and my Administration are doing a GREAT job of handling Coronavirus, including the very early closing of our borders to certain areas of the world. It was opposed by the Dems, “too soon”, but turned out to be the correct decision. No matter how well we do, however, the…..— Donald J. Trump (@realDonaldTrump) February 26, 2020U.S. Health Secretary Raises ConcernsSo is it the right time to buy on the dips? Well, wait for some more time! U.S. Health Secretary Alex Azar said asked for more funds anticipating that the Coronavirus can spread further. Azar thinks that the U.S. is likely to see more infected cases ahead. Speaking before a Senate subcommittee, he said:“While the immediate risk to individual members of the American public remains low, there is now community transmission in a number of countries, including outside of Asia, which is deeply concerning.”“We are working closely with state, local, and private sector partners to prepare for mitigating the virus potential spread in the United States, as we will likely see more cases here,” he added.The ripples of Dow Jones’ fall on Tuesday were felt across the broader markets as well! Both, the Nasdaq and the S&P 500 plunged around 3%. Even the commodities sector was feeling the heat of the marketwide fall.Crude oil sector plunged 3.2% while even gold remained under pressure despite the price gains in recent weeks. On the contrary, the U.S. Treasury bond and the mortgage rates in the country have hit a multi-year-low. Also, consumer confidence has dropped below the estimated forecasts but remains decent at 130.7.Outside the U.S., the situation in Europe and the Middle East continues to worsen further. Italy is witnessing a rapid surge in the number of infected cases while in the Middle East, Iran remains the most infected.Dow Jones Plunged over 850 Points on Tuesday in Its Deadliest Crash since 2008

Coinspeaker Binance-backed FTX Aims for Billion-Dollar Valuations via Equity Token SaleOn Tuesday, February 25, Binance-backed derivatives platform FTX announced that the company aims for billion-dollar valuations through the equity token sale. FTX is popular for creating the Shitcoin Index for low market cryptocurrencies.The announcement read that FTX_Equity token is willing to bring all investors with a minimum capital of $250K. For each of its equity token, FTX has put a price of $2. Thus, investors holding the FTX_Equity token will get ownership in FTX’s holding company FTX Trading Ltd. Besides, investors can purchase the equity tokens directly from FTX against USD and its native token FTT. Moreover, investors can also purchase equity tokens using public cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).The important thing is despite investors getting ownership in FTX, they won’t get any voting rights. However, investors will be eligible to receive the dividend payouts. Also, investors can convert between the tokenized FTX_Equity into the conventional FTX equity but only with a minimum of 1.25 million tokens.As such retail investors across the globe can participate in the FTX token sale except for U.S. investors. The United States jurisdiction prohibits FTX from operating in the country.The exchange said that they have yet not decided on the number of equity tokens up for sale. But the exchange said that the equity token sale will happen in line with FTX’s value.FTX Equity Token Sale in March 2020The sale for the FTX equity token is scheduled next month on March 7. Last year in May 2019, the derivatives platform unveiled its FTC futures, options, and perpetual contract for 30 different digital assets. In August 2019, the company also raised $8 million in private equity round.Another feather to FTX’s cap was Binance acquiring a minority stake in the exchange in December 2019. By this time, the exchange was successfully processing $170 million in average monthly volume for its Bitcoin (BTC) and Ethereum (ETH) futures. By February 2020, this figure has nearly doubled to $335 million.Binance’s minority stake acquisition helped FTX to raise its valuations further.“Revenue would justify that valuation with moderate growth, and would justify a significantly higher valuation if we can sustain the high growth rate we’ve been having,” said an FTX spokesperson, speaking to CoinDesk on the FTX’s sale of tokenized equity.Binance-backed FTX Aims for Billion-Dollar Valuations via Equity Token Sale

It looks like Brazil’s hardcore tax laws are starting to hurt its crypto industry. Two digital exchanges in Brazil – Acesso and Latoex – have shut their doors permanently, claiming they cannot adhere to the country’s new tax laws which they cite as extremely strict and rigid.
Crypto Companies in Brazil Are Facing the Heat
Both trading platforms say they are facing heavy fines. In addition, the tax laws have caused a lot of people to exit the space altogether, and thus both companies are facing extremely low trading volumes – not enough to stay afloat.
Pedro Nunes – the CEO of Acesso – claimed in a statement:
After the Federal Revenue Service introduced these rules, we noticed a significant decrease in the trading volume. We also feel that the market has cooled off for smaller exchanges.
Crypto tax laws around the world are causing many companies and everyday traders to start feeling the burn. In America, for example, the tax laws have caused even more confusion amongst ventures that delve in both crypto and blockchain services. While a new draft of crypto tax regulations in the United States emerged last October, many claim these rules are still very confusing and have not clarified the trading space any further.
In Brazil, the new tax laws are also being cited as a major invasion of privacy. Implemented during the second half of last year, crypto holders are now required to report their identities and all transactions they’re part of to the nation’s tax agencies. This includes both large businesses and individual traders.
Furthermore, users must also report any crypto donations they give, along with withdrawals, deposits, barters and other transactions, leaving no room for individuals or enterprises to remain private. Anyone who fails to abide by these rules is subject to penalties and fines of up to $360.
This may not seem like much, but it’s not just the money that’s killing the crypto investing space in Brazil. Lawmakers now require that crypto traders invest some of their funds into new resources and enterprises.
This is very difficult for crypto startups, which often don’t possess the funds necessary for outside financial activities. Many times, they’re just struggling to keep themselves open for business, so the idea of putting money into other programs doesn’t make much sense to executives.
Too Many Fines
Latoex – which stands for Latin America Token Exchange – has also announced its decision to shut down. The company is selling all its assets to other companies and returning all investments to its clients. It was recently suspended by Brazil’s Securities and Exchange Commission and slapped with a $23,000 fine that the exchange is trying to get reversed.
Prior to this little stunt, Brazil was known as one of the top crypto havens in Latin America.
The post Brazil Crypto Tax Regulations Cause Trading Platforms to Leave the Industry appeared first on Live Bitcoin News.

A billionaire in Qatar named Wissam Al Mana is filing a lawsuit against social media giant Facebook after crypto-based advertisements on its platform used his picture to promote their products.
Facebook Heads to Court… Again
Al Mana has filed his suit in a Dublin court, where the European headquarters of Facebook is located. He alleges that Facebook did nothing to prevent the use of his image in phony crypto advertisements. He also says he never gave his permission for his likeness to be used.
This is something that Facebook has been accused of in the past. Dutch Millionaire John de Mol, for example (the creator of the popular reality series “Big Brother”) sued Facebook in late 2019 and alleges the company knew phony bitcoin ads were using his picture without his permission. He claims that while he told Facebook repeatedly about what was going on and asked for staff members’ help in getting the ads to stop, the company failed to take any serious action.
John states that this has resulted in several people falling for the scams and losing funds. He does not want to be considered responsible given that his likeness was used.
In a statement, de Mol explained:
After three months of negotiating, it has become clear to me that it is impossible to come to an agreement with Facebook on the misleading bitcoin advertisements. While the company seemed to be cooperating, it was merely smokescreen that concealed its reluctance to put in place the desired measures in a timely and correct manner.
Sadly, a judge did not take de Mol’s side in the case, eventually deciding that Facebook and de Mol must work out their problems without assistance. It is unknown at the time of writing if these fake crypto advertisements have continued or ceased.
Al Mana is being represented by prominent lawyer Paul Tweed, who has assisted several high-profile and overseas clients such as Djibouti president Ismail Omar Guelleh and Qatari critic Ghanem Nuseibeh. Both have entered similar lawsuits against Facebook in the past. Tweed has also represented several notable celebrities such as Nicolas Cage, Jennifer Lopez and Harrison Ford in defamation lawsuits that occurred in the Dublin area.
A Man Who’s Done This Before
Tweed commented that while Facebook is predominantly a U.S. company, he felt filing the suit in a European nation gave his client a better chance at winning considering free speech regulations are not as open overseas as they are in America.
The crypto space is wrought with cases of companies using the faces of celebrities without permission to promote certain products and services. One of the biggest ones in recent years was Centra Tech, which allegedly used the likenesses of rapper DJ Khaled and boxer Floyd Mayweather without their permission to promote its initial coin offering (ICO).
The post Facebook Is Being Sued (Again) Over Phony BTC Promotions appeared first on Live Bitcoin News.

Coinspeaker Tandem Diabetes (TNDM) Stock Goes Down after Company Posts Its Q4 2019 EarningsTandem Diabetes Care Inc (NASDAQ: TNDM) unexpectedly posted profits in the fourth quarter on Monday. After that, the stocks took a downtrend direction and dipped below to trade at 78.30 at the time of writing. It means that TNDM is around 10% today. In the framework of its Q4 report, Tandem Diabetes also announced the 2019 full-year financial results and the 2020 financial guidance.The leading insulin delivery company which also specializes in diabetes technology read out its full financial statement, which was not received well by the stock market. The shares used to be rising since the beginning of the year after breaking out of the strong hurdle that took the better part of 2019.However, it is worth noting that despite the negative movement of the stocks on the shorter time frames, TNDM stocks have been revering since 2018 from the long free fall that they experienced from 2014. With the company reporting a positive financial statement, the shares are expected to recover soon and retest the all times high, which is above 300 units.Details of Tandem Diabetes Q4 Financial ReportAccording to the report, in comparing the year that ended on December 31. 2019 to the same period in 2018, the worldwide pump shipments increased by 113% to about 73,431 pumps, which is up from 34,493 pumps. The sales increased by 97% from $183.9 billion to $362.3 billion.Tandem Diabetes also recorded an increase in the gross margin, which increased from 49% to 54%. The report also indicated the adjusted EBITDA improved from negative eight percent to 13% of the sales.The same report compared the Q4 of 2019 to that of the same period of 2018 for Tandem Diabetes. After analyzing, the worldwide pump shipment increased by 21% up from slightly above 16,000 pumps to 19,602 pumps.Comparing further, the sales increased by 42% up from $76.2 million to $108.4 million. The gross margin was noted to have improved by 1 point from 55% to 66%, whereas, the adjusted EBITDA rose from 16% to 21%.According to the president and chief executive officer of the company John Sheridan, in 2019, the company more than doubled its year-over-year shipments, primarily based on the strength of its basal-IQ technology adoption. He continued to say that, ‘we pioneered two new device categories with the FDA and received clearance for t: slim x2 with control-IQ technology, the most advanced automated insulin delivery system available’.He concluded that the company is working to bring the benefits of its t:slim x2 system to more people suffering from diabetes worldwide in the year ahead.Tandem Diabetes (TNDM) Stock Goes Down after Company Posts Its Q4 2019 Earnings

Reginald Fowler, a businessman situated in Arizona, was charged with wire fraud on Friday following a long list of other charges that have accumulated over the past month.
Fowler Has Another Charge Added to His Record
Fowler was once a stake owner in the Minnesota Vikings, but he’s also a potential operator of Crypto Capital, a payment processing venture that seeks to govern digital currency transactions. This new charge alleges that he garnered money through “false and fraudulent pretenses” and had money directed to a professional sports league.
Fowler was originally offered a plea bargain when he was first taken into custody in early February. It was stated that he would only be charged with one felony granted he agreed to forfeit nearly $400 million in crypto funds from a whopping 50 separate addresses. Not a fan of potentially being separated from his money, Fowler turned the bargain down.
He’s now slated to face trial, where he’ll likely be hit with more charges and a larger prison sentence if he’s found guilty. An updated indictment documenting the case against Fowler reads:
Fowler defrauded individuals associated with a professional sports league (the ‘League’) in connection with his acquisition of an ownership stake in the League, inter alia, (i) by falsely claiming personal ownership of funds that were, in truth and in fact, funds Fowler had obtained through the unlicensed money transmitting business charges in Count Four of this Indictment and (ii) by converting those individuals’ funds toward his investment in the League.
Some of the other charges he’s facing include conspiracy, bank fraud and running an unlicensed money transmitting business. Among some of the digital exchanges that utilized Crypto Capital to process their transactions are Bitfinex and Quadriga CX, both of which are presently wrapped up in scandal.
Quadriga CX was one of Canada’s leading crypto exchanges, but it’s now facing a huge class-action lawsuit given that none of the customers can access their money. The company’s CEO Gerald Cotten allegedly passed away in India in late 2018, and as the only person with the private keys necessary for accessing the exchange’s digital reserves, $194 million disappeared into oblivion the day he stepped into the great beyond.
Customers were thus left empty-handed and could not access their funds.
Did You Mess Around with BTC?
Bitfinex is also facing a lawsuit of its own from former customers who claim that the trading platform – with help from the stable coin Tether – worked to manipulate the bitcoin price in 2017. At that time, the world’s number one cryptocurrency by market cap spiked to an all-time high, but later came tumbling down and lost more than 70 percent of its value the following year.
Bitfinex denies it had anything to do with bitcoin’s price maneuvers.
The post Reginald Fowler of Crypto Capital Charged After Questionable Wire Transfer appeared first on Live Bitcoin News.

Coinspeaker Warren Buffett Says Not to Sell Shares Because of Coronavirus OutbreakMany people have revealed reactions in response to the heavy plunge the stock markets took as a result of the coronavirus. A lot of companies shed some weight which ended up significantly affecting some of the world’s richest people. As with occurrences like this, many businessmen, as well as market analysts and traders alike, have aired their two cents on the matter. One very interesting one has now come from Berkshire Hathaway chairman Warren Buffett who doesn’t believe anyone should sell their shares because of the epidemic.Warren Buffett Says Don’t Just Sell Shares In a recent conversation with CNBC, Warren Buffett has said that the current coronavirus epidemic should not influence how people handle their shares. According to him what should be more important is whether there really will be any long-term effects from the outbreak. Buffett said:“The real question is: ‘Has the 10-year or 20-year outlook for American businesses changed in the last 24 or 48 hours?’”According to Buffett, playing in the stock market and purchasing shares isn’t something you do based on temporary market trajectories. He believes that decisions like that should only be made if they have a long-term effect on the shares.“You will notice many of the businesses we partially own, American Express, Coca-Cola – those are businesses and you don’t buy or sell your business based on today’s headlines. If it gives you a chance to buy something you like and you can buy it even cheaper then it’s your good luck.”Buffett Says Coronavirus Won’t Affect Stocks in the Long RunWarren Buffett also spoke specifically about the coronavirus and how it will impact shares. According to him, a conversation with his own ‘science advisor’ Bill Gates put things into perspective. He said Gates is quite confident that there will be a proper solution. Speaking on this, Buffett said:“Now what they hope to get is a universal flu vaccine, but that’s a long way off. It isn’t impossible…I talked to [Gates] in the last few days about it and he’s bullish on the long-term outlook for a universal prevention of it.”Regardless of the progress being made with the coronavirus, Buffett still believes that shares could still plunge in the short-term. Whether or not there is a health epidemic, price swings are not strange. In the recently released Berkshire Hathaway annual letter, Buffett wrote:“Anything can happen to stock prices tomorrow. Occasionally, there will be major drops in the market, perhaps of 50% magnitude or even greater.”In the letter, Buffett also gave his two cents about shares. According to him, if certain conditions stay constant, shares are bullish in the long-term. He said if current rates hold for much longer and “corporate tax rates also remain near the low-level businesses now enjoy”, equities performing better than bonds is “almost certain.”Warren Buffett Says Not to Sell Shares Because of Coronavirus Outbreak

Coinspeaker Moderna (MRNA) Stock Surges 20% on Monday, First Coronavirus Vaccine Sent for Human TrialsModerna Inc (NASDAQ: MRNA) stock jumped by 20% on Monday and keeps growing today. This has happened as a result of its recent breakthrough in developing a vaccine to fight with the coronavirus. The biotech company indicated in a press release that its RNA-based vaccine is ready for its first batch of human trials. Moderna was working with the U.S. National Institute of Allergy and Infectious Diseases (NIAID). And it managed to develop a long-awaited coronavirus vaccine. The first batch will be reportedly shipped to NIAID’s Maryland USA center. At the moment of writing, the Moderna stock price is $21.66 which indicates an over 16% growth.Moderna (MRNA) Stock Makes Gains Based on the New Coronavirus VaccineModerna is expecting the first batch of human trials for coronavirus vaccine to begin as early as April. The gene sequencing of the basic identifiers of the COVID-19 virus reportedly occurred in record time. This has raised hopes of a publicly available vaccine before summer. It also gives a ray of hope to the Nations that have suffered the most from the effects of the situation.The project has been said to be reportedly funded by the Coalition for Epidemic Innovations (CEPI). The vaccines will be used in a study at the National Institutes of Health (NIH). The study is expected to occur in phases.The vaccine which is referred to as mRNA-1273 is also a first. RNA vaccines have never been used on humans. This could present a proof-of-concept that RNA vaccines are just as effective as DNA-based ones. This could also change the game for viral vaccines as Moderna is leading research into RNA-based vaccines. Until the general success of the Vaccine is established, the concept of cures based on RNA vaccine remains murky. Other drugs have been effective in treating COVID-19 though. Gilead Sciences Remdesivir which is effective against Ebola is already showing promise in slowing down the symptoms of COVID-19 in patients. This, of course, is a step in the right direction. It does not, however, deal with the root cause of the problem which is the infection. This is where mRNA-1273 holds the most promise. However, it remains to be seen if the trials will be as effective as the initial results have been so far. COVID-19 is a Member of the Coronavirus FamilyCOVID-19 belongs to the family of viruses to which the Severe Acute Respiratory (SARS) belongs. There had also been an earlier outbreak of SARS in China. MERS also belongs to this family of viruses.The attempt by Moderna to sequence the COVID-19 virus sets a new record for gene sequencing. In 42 days the signatures for the COVID-19 had already been identified while a probable vaccine has also been identified. This goes to show the effectiveness of research and development in solving health problems that have a global nature. Though the effects of RNA coronavirus vaccine on the human body remain unknown, it could just be that Moderna and companies like it are on the verge of the next level of advancements in medicine. Time, it sees will be the judge of this. Moderna (MRNA) Stock Surges 20% on Monday, First Coronavirus Vaccine Sent for Human Trials