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Why a New Jersey-Based Cryptocurrency Startup is Getting a Lot of Love From Investors
Call it the anti-Bitcoin: Whereas the world's most popular cryptocurrency has fluctuated wildly between euphoric highs and dreaded lows, a crypto startup based in Hoboken, New Jersey aims for something a lot more predictable, as TechCrunch reports. Called Basis, the startup is working on developing a "stable coin," according to TechCrunch, "whose elastic supply will ostensibly expand and contract to
If You Can't Beat 'Em, Join 'Em: Best Buy and Amazon Form Partnership to Sell Smart TVs
While Best Buy has been seen as just the sort of traditional retail giant to be slayed by the force of Amazon's online juggernaut, the former has figured out a way to temper the threat of the latter: Form a partnership and work together. The two companies announced a multi-year partnership in which Best Buy will sell Amazon's next-gen Fire
Study: Tesla the Most Trusted Company in Autonomous Development Race, Despite Crash Investigations
Last quarter’s fatalities involving autonomous vehicle technology were seen to justify some of the concerns voiced by Tesla Inc (NASDAQ: TSLA) bears. Critics were confident the crashes would dent consumer enthusiasm toward self-driving cars and, in one case involving the Model X, weigh on the brand's image. To the contrary, a survey conducted by Autolist found Tesla still leads the
Coinbase Makes its Biggest Acquisition and Names its First CTO
Already one of the largest cryptocurrency exchanges in the world, Coinbase has now acquired Earn.com, a U.S.-based startup that offers a decentralized paid-email service utilizing blockchain technology. As part of the acquisition, Coinbase has named Balaji Srinivasan (pictured), co-founder and CEO of Earn.com, as its first chief technology officer. The entire Earn.com team will also transition over to Coinbase as
New York Attorney General Launches Inquiry Into Cryptocurrency Exchanges
New York Attorney General Eric T. Schneiderman announced on Tuesday that his office has launched "a fact-finding inquiry into the policies and practices" of cryptocurrency exchanges, sending letters to 13 major digital currency exchange platforms. Called the Virtual Markets Integrity Initiative, Schneiderman's inquiry seeks "key information on their operations, internal controls, and safeguards to protect customer assets" via a questionnaire
An ETF For the Future of Tech
Traditional technology sector exchange-traded funds usually follow a similar model. That model being large weights to the likes of Apple Inc. (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT), Alphabet Inc. (NASDAQ: GOOGL) and other massive tech titans. Some newer technology ETFs are taking different approaches, evolving with tech investing as the sector itself evolves. One example is the iShares Exponential Technologies
U.S. CPI Inflation: Two Trends to Watch
The acceleration in U.S. core Consumer Price Index (CPI) inflation in March was in line with expectations, and likely a welcome development for Federal Reserve officials after a surprising string of soft inflation prints last year. The 0.3 percentage-point increase brought core CPI to 2.1% year-over-year as a large drop in wireless services prices last March finally fell out of
Activist Short Selling Pays Off
Hedge Funds
Activist Insight Shorts data show over 70% of stocks targeted by an activist short seller trade lower after a week In February this year, Bill Ackman’s Pershing Square Capital Management exited its longstanding short position in Herbalife due to its major loss in the holding. Even with a Federal Trade Commission investigation into Herbalife’s business practices, Ackman still lost the bet.
Report: U.S. Considers Payback Over China's Restrictions on Cloud Computing
The Trump administration is weighing potential retaliation against China in response to the Chinese government's restrictions on cloud computing and other high-tech services offered by American companies, the Wall Street Journal reports. The U.S. trade representative’s office (USTR) is reportedly putting together a trade complaint against China "probably under Section 301 of the Trade Act of 1974, arguing that the
Dropbox, Spotify Have Venture Capitalists Extremely Bullish About Tech IPO Market
In the end, 2017 did not turn out to be the big turnaround for the tech IPO market that many analysts had predicted - or at least hoped for - following a historically bad year in 2016. Fairly or not, a lot of the blame for the mediocre showing last year  - okay, most of the blame - was placed