Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: maceng2 who wrote (178414)	9/17/2021 5:15:42 AM
From: TobagoJack	Read Replies (1) \| Respond to of 218863

This day in in-tray QUOTE Dear All, UBS : Localised storm leaves bigger picture little changed The BGCI benchmark lost 8% over the last fortnight as Bitcoin fell back through USD50k to its 38.2% Fibonacci retracement level. This was its seventh-largest drop over the last year, tracing its third-widest intra-day trading range (Figure 1). However, open interest in CME futures has trickled lower in BTC throughout the summer, so it made sense that realised daily volatility held well below H1 levels (see page 5) and even front-dated implieds barely budged (Figure 2). Ether is perkier, supported by an increasingly narrow NFT boom. ETH is sitting well above its 200dma as opposed to fluctuating around it. This makes it and Cardano's ADA the only major coins that are even mildly trending on our composite technical indicators (page 4). More significant events loom With the US Senate back in session and House due to reconvene Monday, attention is again on the US infrastructure bill. Several crypto loopholes that encourage tax harvesting sales and repurchases or offsetting transactions to reduce liabilities now seem likely to be closed, narrowing the gap with conventional securities in law. A long promised position paper from the Fed on a so-called digital dollar should also see the light of day. Comments from Powell and others indicate they see fewer benefits than other central banks, so will focus their efforts on closer oversight of the maturing stablecoin space instead (Figures 3 & 4). This creates a fascinating experiment as China stakes out one extreme—active promotion of an eRMB and a ban on all private sector initiatives—and Europe occupying the middle ground. Finally, Coinbase placed an upsized USD2bio of sub-IG bonds equally split between 7y and 10y tenors after receiving bids of USD7bio. According to the company, the proceeds will be used for investments in or acquisitions of firms, products or technologies. Big-name public listings are likely to follow (see here and here) as the land-grab for digital infrastructure and prime virtual real estate rolls on. UNQUOTE

To: maceng2 who wrote (178414)	9/17/2021 5:25:06 AM
From: TobagoJack	Respond to of 218863

Let us hope for the best win win outcome True global Britain as opposed to the dead-end way weekinchina.com Geely takes on Porsche Chinese carmaker to revive Lotus brand with a Wuhan-made EV range Once driven by James Bond, Lotus cars will soon be made in China Ask older Brits what the Lotus brand means to them and they’ll probably think of a racing car that won a series of Formula 1 titles in the 1960s and 1970s. Times have changed a lot since then. For starters there’s no cigarette advertising of the type that allowed John Player Special to ride on the car’s successes. Lotus has disappeared from F1 too: the carmaker dropped out of high-level racing in 1994, two years before the brand was sold to Malaysia’s national carmaker Proton. In 2017, it changed hands again, this time purchased by Zhejiang Geely, which has a portfolio of international marques most notably Volvo. Now the Chinese group has announced ambitious new plans to restore Lotus to its former glories, putting it back in the same league as more venerated competitors like Porsche. British car journalists wonder whether that’s possible, given that Lotus doesn’t have that much brand recognition any more, even in the country in which it was created. But Geely is going to invest significantly in a bid to change that, with a Vision80 strategy that takes Lotus up to its centenary in 2028. Geely wants to build on the brand’s sports car heritage by introducing a range of higher-end passenger vehicles as well – in a similar strategy to the one successfully executed (again) by Porsche. The plan is to launch this new ‘lifestyle’ brand from Wuhan, where Geely has operated car plants for years. The Lotus HQ will move to the capital city of Hubei province, where Geely has already invested Rmb6.3 billion ($974 million) of a planned Rmb26.3 billion in automative investment. A new plant capable of producing 150,000 vehicles a year will manufacture all four of Lotus new EV models over the next four years. That’s a big ramp up from the 1,400 per annum currently reported by British newspapers. First off the starting grid in 2022 will be a larger electric SUV (the Lotus equivalent to the Porsche Cayenne). In 2023 it is planning to launch a four-door coupe (akin to the Porsche Taycan), followed by a compact SUV (like the Porsche Macan) in 2025 and a sports car in 2026. The company’s UK base in Hethel, Norfolk will continue to develop the brand’s electric hypercar, the Evija. Lotus has also just completed a funding round valuing the business at Rmb15 billion. One of the investors is EV start-up NIO, through its investment arm NIO Capital. The hype surrounding China’s EV start-ups means that New York-listed NIO has a market capitalisation twice the size of Hong Kong- listed Geely. Founder Li Bin has been investing some of that premium on stakes in other car companies to create an ecosystem of his own. S&P Global Market data shows that in the past three months, NIO Capital also participated in the $270 million funding round for trucking start-up Inceptio Technology and a $315 million private placement in Nasdaq-listed Uxin. Li Bin was present at the online launch of the Lotus lifestyle brand too, explaining that he decided to invest because “heroes see the world the same way”. Chinese journalists have picked up on another link between the two companies. NIO Capital partner Yu Ning used to work at Geely and led the original acquisition of the Lotus brand in 2017. Back then Geely acquired a 51% stake in the £100 million ($138 million) deal alongside Etika Auto (owned by Malaysian tycoon Mokhtar Al-Bukhary, who also controlled the seller, DRB-Hicom). What would Lotus founder Colin Chapman have made of it all? Lotus lost its way in the decade after he died in 1982 but he would never have envisaged that the company would come under Chinese control. Perhaps he would have approved of the move eastwards, however. One book from Japan claims that Chapman told Honda’s Formula 1 manager Yoshio Nakamura that he chose Lotus as the name for his company because he was interested in Asian philosophy while he was at university. He added that he knew that the flower signified nirvana, a state of peace and perfect happiness. Geely will be hoping that Chinese drivers feel something similar when they sit in its new range of cars. © ChinTell Ltd. All rights reserved. Sponsored by HSBC. The Week in China website and the weekly magazine publications are owned and maintained by ChinTell Limited, Hong Kong. Neither HSBC nor any member of the HSBC group of companies ("HSBC") endorses the contents and/or is involved in selecting, creating or editing the contents of the Week in China website or the Week in China magazine. The views expressed in these publications are solely the views of ChinTell Limited and do not necessarily reflect the views or investment ideas of HSBC. No responsibility will therefore be assumed by HSBC for the contents of these publications or for the errors or omissions therein.

To: maceng2 who wrote (178414)	9/17/2021 7:46:43 PM
From: TobagoJack	Respond to of 218863

watching can wobble stuff but might feature network rails that offer decentralised inflation :0) as opposed to a yield based on some sort financial intermediation am going to delve into the issue that might set apart casper and ethereum, say for example ft.com US states clamp down on crypto yield products from Celsius Network New Jersey and Texas claim that interest-bearing accounts amount to unregistered securities 5 hours ago Celsius is one of the largest digital asset-based lenders with more than 100,000 US interest-bearing accounts © Financial Times Authorities in New Jersey and Texas are pursuing actions against cryptocurrency group Celsius Network for allegedly offering unregistered securities, as regulators crack down on issuers of digital asset lending products. The US state of New Jersey’s attorney-general’s office on Friday ordered the company to stop issuing interest-bearing cryptocurrency products via a cease-and-desist order. Texas state regulators filed a notice seeking a hearing in February to assess whether to take similar action. Both argued that the company’s interest-bearing crypto accounts, known as Celsius Earn, constitute an unregistered securities offering. The New Jersey regulator added that the company had been “funding its cryptocurrency lending operations and proprietary trading at least in part” through the sale of these unregistered securities, which it said had raised more than $14bn for Celsius, which is based in the city of Hoboken, New Jersey. “Financial companies operating in the cryptocurrency marketplace are on notice,” Andrew Bruck, the state’s acting attorney-general, said on Friday. “If you sell securities in New Jersey, you need to comply with New Jersey’s investor-protection laws. Companies dealing in cryptocurrencies are not immune from oversight.” Crypto platforms providing interest on digital assets have gained in popularitythanks to the substantial yields on offer. Celsius, one of the largest lenders with more than 100,000 US interest-bearing accounts, advertises 8.8 per cent annual interest on deposits of digital coins tied to the US dollar, alongside other tokens. Crypto lending products are now facing a regulatory backlash. Agencies in five states — Alabama, Kentucky, New Jersey, Texas and Vermont — are pursuing similar actions against BlockFi, a lending group that has raised $14.7bn by offering interest-bearing crypto accounts. BlockFi denies the claims. Coinbase, the largest US cryptocurrency platform, revealed last week that the US Securities and Exchange Commission had warned that it would sue the company if it pursued its plans to launch Lend, a new digital asset yield product of its own. Meanwhile, Gary Gensler, SEC chair, told a Senate committee on Tuesday that crypto markets lacked adequate consumer protections, “particularly the lending”, as bipartisan momentum for more industry regulation gathers steam. State and federal regulators argue that these crypto lending products can be defined as an “investment contract”, making them a security and requiring issuers to undergo formal registration and post additional disclosures. But many in the crypto community deny that interpretation, arguing that regulators have failed to provide sufficient clarity on the matter. In an interview with the Financial Times last week, Alex Mashinsky, chief executive of Celsius, said he was “very confident” that none of Celsius’s products in the US were securities. Celsius did not immediately respond to a request for comment on Friday. Celsius has historically been based in the UK, but in June it said it would be moving its main business activity and headquarters to the US and “where applicable, to several other jurisdictions”. The Texas State Securities Board said it notified Celsius in May that it might be breaking state securities law and to explain the legal requirements. The board said Celsius did not stop offering its lending products after receiving the warning. Celsius has said it generates its crypto yields through lending and cryptocurrency mining, but state regulators said the company also engaged in proprietary trading and other types of transactions. Weekly newsletter For the latest news and views on fintech from the FT’s network of correspondents around the world, sign up to our weekly newsletter #fintechFT Sign up here with one click

To: maceng2 who wrote (178414)	9/21/2021 10:07:50 PM
From: TobagoJack	1 Recommendation Recommended By maceng2 Respond to of 218863

WE must keep track of what 'they' are doing ft.com US imposes sanctions on crypto exchange in ransomware clampdown Curbs on digital asset group SUEX mark new frontier in battle to halt surge in extortion attacks 6 hours ago The US Treasury says about 40 per cent of SUEX’s transactions are linked to illicit actors © AFP via Getty ImagesThe US Treasury has imposed sanctions on a cryptocurrency exchange that it says allowed ransomware hackers to launder extortion payments from victims, in one of its most significant interventions to date against a digital asset group. Working together with the FBI, the US Treasury’s Office of Foreign Assets Control announced the curbs on an exchange called SUEX, which it said deliberately “facilitated illicit activities for [its] own illicit gains”. The sanctions block US citizens and companies from transacting with the group, with penalties that include fines. The move marks a new frontier in the government’s fight against a scourge of ransomware attacks, in which hackers seize a company’s systems or data only to release them when a ransom is paid. Cybersecurity experts have long called for tougher barriers to stop cyber criminals receiving and then laundering ransom payments, which have typically been enabled by the use of difficult-to-trace cryptocurrencies. According to the Treasury, some 40 per cent of SUEX’s transactions are linked to illicit actors, while the company has facilitated the laundering of funds from more than eight ransomware variants. SUEX’s website says the company was established in Prague, in the Czech Republic, while its LinkedIn page says it is “used by thousands of residents of Russia, Europe, Asia, South and North America”. SUEX operates as a so-called “nested” exchange, according to crypto intelligence group TRM Labs, meaning that instead of acting as a direct custodian of its clients’ crypto funds, it merely provided a custom-made interface while tapping into the services of a larger exchange. According to TRM Labs, the exchange, which appears to deal in transactions of $10,000 or more, accepted new customers on a system of referrals from trusted intermediaries. Its largest shareholder is a Russian national, TRM said. A message to the email listed on the SUEX website bounced back. Ofac said it would “continue to impose sanctions on these actors and others who materially assist, sponsor or provide financial, material or technological support for these activities” — a statement that will send a warning to other larger cryptocurrency exchanges that have not bolstered their anti-money laundering and “know-your-customer” capabilities. Ransomware attacks have exploded in volume as a pandemic-related shift to remote working has left businesses more vulnerable to intruders. The trend was thrust into the spotlight earlier this year by several audacious and highly disruptive attacks, including one on the East Coast’s Colonial Pipeline. The Treasury also updated its ransomware advisory on Tuesday to recommend that victims disclose breaches to law enforcement and other US agencies — particularly if they feel compelled to pay a ransom, as this will give them extra leverage with regulators if they are later found to have unwittingly broken sanctions. Another “significant mitigating factor” will be whether a company co-operates and shares information with law enforcement, the Treasury said. The guidance will be updated to state explicitly that the government discourages paying ransoms altogether, as it has outlined in public statements in the past. Wally Adeyemo, deputy secretary of the Treasury, said the agency was also “investigating” the role of mixers — third-party services that mix up illicit funds with clean cryptocurrencies before redistributing them, throwing investigators off the trail. On top of targeting the crypto payments infrastructure, many experts have complained that the Biden administration should be tougher on Moscow, given that the majority of ransomware criminals are believed to be based in Russia or Russian-speaking countries, and are allowed to operate with impunity. In July, Joe Biden warned Russian president Vladimir Putin that the country would face consequences if it failed to act against such hackers, and warned that certain critical infrastructure entities were off limits. The Treasury said on Tuesday that it planned to better leverage international co-operation and multilateral forums such as the G7 and United Nations. It sought to encourage the countries that harbour ransomware criminals to take action or be “held accountable” for failing to do so. When asked about a recent ransomware attack on a grain co-operative in Iowa, which analysts believe was carried out by a suspected Russian-linked group called BlackMatter, the White House told reporters that it had not yet made any formal attribution.

To: maceng2 who wrote (178414)	9/21/2021 11:44:18 PM
From: TobagoJack	Read Replies (1) \| Respond to of 218863

this below must have been funny, but I was asleep, literally, and ordinarily I would have thought 'mercifully' but under current fiat money inflation weirdness, I instead thin, "rats. missed that OPPORTUNITY" Now we know Solano is cr@p, and that is a good thing and wonderful to know. bloomberg.com Bitcoin Crashed to $5,402 in Error on Network Backed by Quants Nick Baker 22 September 2021, 04:07 GMT+8 A cryptocurrency data network run by some of Wall Street’s biggest players showed a roughly 90% plunge in Bitcoin on Monday, a glitch that didn’t show up on other platforms. The platform, called Pyth, is heralded by its supporters as an industrial-grade source for pricing information on assets like stocks and cryptocurrencies. Its contributors include finance giants like Jump Trading Group, DRW and FTX. On Monday, it briefly reported Bitcoin’s price as $5,402. “Engineers are continuing to investigate the cause and a full report is in the works,” Pyth tweeted Monday morning. There have been no further tweets from Pyth on the matter. It’s an eye-catching error for a system that gets its information from some of the most sophisticated traders. “For something like this to succeed, the data needs to be something people can rely on,” Joe Molluso, co-president and co-chief operating officer of Pyth contributor Virtu Financial Inc., said in a June interview. Things seem to have returned to normal Tuesday. Bitcoin’s price was recently given as $41,888, close to prevailing levels. It’s the second recent problem. Pyth connects to the Solana blockchain, which stopped working for more than 17 hours last week. That outage also took down Pyth. Read More: What the Solana Blackout Reveals About the Fragility of Crypto It’s unclear how widespread any troubles caused by the Bitcoin plunge on Pyth might have been. The Twitter account for Bonfida, a project built on Solana, saidthe decline “caused a series of liquidation events on the Audaces protocol BTC-PERP market (unfortunately working as intended).” Audaces is Bonfida’s perpetual futures platform. Before it's here, it's on the Bloomberg Terminal. LEARN MORE