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Spurred by calls for reform, Palo Alto backs restrictions on police use of force – Palo Alto Online

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With the shooting of Jacob Blake in Wisconsin spurring a fresh wave of protests against police brutality, the Palo Alto City Council agreed on Monday to revise the Police Department's policies on use of force and vowed to pursue broader initiatives to promote racial justice.

By a unanimous vote, the council endorsed a set of revisions to police policies that largely comported to recent recommendations from the city's Human Relations Commission. The goal was to better align the city's official policies with those in the 8 Can't Wait platform, a project of Campaign Zero, a nonprofit that focuses on reducing police violence.

The campaign calls for a ban on chokeholds and requirements that officers prioritize de-escalation, provide warnings before shooting, exhaust all alternatives before shooting, intervene when they see excessive force, avoid shooting at moving vehicles, follow a use-of-force continuum and report all incidents of force.

In debating the changes to police policies, the council at times struggled to reconcile the recommendations of the Human Relations Commission, which supported broader restrictions on use of force, and those of department leadership, who urged the council not to adopt any policies that would hinder officers' ability to protect themselves during dangerous situations.

The Rev. Kaloma Smith, who chairs the commission, observed that the conversation feels particularly urgent in the aftermath of the shooting of Blake, which sparked protests in Kenosha, Wisconsin on Sunday and Monday. A video of the incident showed a police officer shooting Blake seven times at close range as he was entering his vehicle.

Blake was in stable condition in an intensive care unit on Monday night, according to multiple news reports.

"This moment was sparked by the killing of George Floyd and last night we watched Jacob Blake get shot in the back seven times by officers," Smith said. "This makes this conversation more of a priority right now, because we don't want to end up in this position."

The Police Department has already adopted some new restrictions, moving in June to ban the carotid hold and agreeing to make the existing ban on chokeholds and strangleholds more explicit in its policy manual. Police Chief Robert Jonsen and Assistant Chief Andrew Binder also agreed with the Human Relations Commission that they should expand the department's de-escalation policy to list the types of techniques that officers should use to avoid violence, including effective communication, self-control and requesting additional resources such as crisis intervention team members to decrease the need to use force.

The council agreed that the policy on strangleholds should go even further and supported the Human Relations Commission's proposed change, which also bans "lateral vascular neck restraints, chest compressions" and other moves that restrict airflow.

"What everybody agrees on is that what happened to George Floyd or Eric Garner can't be allowed to happen in Palo Alto," said Councilman Eric Filseth in discussing the proposed change.

While Smith similarly argued that the city needs to send a clear message that the types of moves that resulted in the deaths of Floyd and Garner (who was killed by a New York City officer in 2014) should be banned, Jonsen and Binder countered that the proposed restrictions are too broad. Jonsen suggested that implementing policies that outright ban certain actions "could have a detrimental effect, not only to officers' safety but to the public at large." Binder agreed.

"If an officer is so concerned with avoiding being on someone's chest, back or neck during a fight because they don't want to be out of policy and afraid they will restrict the person's airflow, then they're not concentrating on the most important task at hand, which is taking this person into custody in the most safe manner, both to the subject and the officer," Binder said.

To address this concern, the council agreed to specify that "intentional tactics" that restrict blood flow to the head or neck are prohibited. Binder and Smith both supported the consensus, which carves out an exception for accidental impediments to air flow.

"If someone falls on someone's chest at a fight, that's an accident," Smith said. "But we've seen nationally, across the country, where now the mantra for many marchers is "Hands up! I can't breathe!" and the reality is we are asking that the intentional tactics are listed out and put there."

The council also requested that the Police Department expand and clarify its use-of-force policy and that it adopt a requirement that "all options would be exhausted before shooting." It also supported a policy that bans police from shooting at vehicles unless the driver poses a "deadly threat." Jonsen and Binder each argued against an outright ban on shooting at moving vehicles, and pointed to situations in which someone may be trying to drive into a crowded demonstration or an outdoor dining area.

"The one predictable thing about police work is that it is unpredictable," Binder said. "We can pass a policy measure tonight that says, 'No doing that,' and there could be a demonstration in Foothills Park where someone decides they're going to drive into the crowd and that officer doesn't have the ability, based on totality of circumstances, to stop that threat with their firearm because they've been restricted by policy."

The council and the commission agreed that the Monday changes are just a small, early step in the city's campaign to revise police policies. Numerous residents offered a similar message.

Aram James, a former public defender and longtime police watchdog, argued that the department needs a culture change and better accountability, including the firing of officers who had been engaged in racist behavior.

"You can tinker with all the policies that you want," James said. "You can change all the policies every six months. The problem is, absent accountability and the ability to swiftly discipline and prosecute officers, this department's officers will not be even disciplined internally."

Other residents urged the council to follow the Human Relations Commission recommendations and align the Palo Alto Police Department with 8 Can't Wait. Cari Templeton, chair of the Planning and Transportation Commission who is running for council, said the reforms are "literally the least we can do." Two other challengers for council seats, Rebecca Eisenberg and Steven Lee, similarly urged the council to go further.

Lee, an outgoing member of the Human Relations Commission, asked the council not to "water down" the prohibitions on use of force with caveats and half-measures.

"It would certainly send the wrong message that Palo Alto wavers in fully implementing basic reforms and that we fail to do the very bare minimum," Lee said.

Eisenberg said the council has "no excuse whatsoever" to tone down any of the measures recommended by 8 Can't Wait.

"We need significant structural change if we're going to address white supremacy, segregation and violence against our Black and brown communities," Eisenberg said.

The council's vote directs City Manager Ed Shikada and department brass to work with the police unions to implement the new policies. The council is also moving ahead with broader efforts to address racial injustice and police transparency.

One of the council's ad hoc committees is putting together a series of programs for the next year that focus on diversity and inclusion, including citywide training on implicit bias, a demographic analysis of the city's workforce and development of permanent artwork that pertains to race and equity.

Other committees are focusing on ways to improve the Police Department's transparency and accountability, hiring practices and policies and alternate service models.

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Spurred by calls for reform, Palo Alto backs restrictions on police use of force - Palo Alto Online

Opinion: New York Needs Its Own Voting Rights Act – City Limits

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We have the opportunity to protect our democracy by passing the John R. Lewis Voting Rights Act of New York.

Jeanmarie Evelly

Our country is a beacon of hope for democracy, founded with the promise that justice and equality can serve as the building blocks of a great nation. However, for some of us, the right to participate in this democracy had to be earned through blood, tears, and sacrifice.

Growing up, my mother would have me read the many books in her library about the Civil Rights Movement. She introduced me to the stories of leaders like Medgar Evers and Martin Luther King Jr., who gave their lives for our chance at a fair democracy. Of course, I also learned about the Boy from Troy Congressman John Lewis, a true hero to many Americans. Its an absolute tragedy to have lost such a powerful voice for the dignity of Black lives and for the very basic right to vote.

Throughout the course of his life, Congressman Lewis made many sacrifices to get us our chance at a true and fair democracy. Many of us in the next generation of activists have already begun to follow in his footsteps. For more than two months, we organized protests, and rallies seeking justice for the families of George Floyd, Breonna Taylor, Elijah McClain, Ahmaud Arbery and others who have been killed by police violence.

With every opportunity given to me to speak I would emphasize how important it was for us to actively participate in our democracy by using the power to vote. I reminded thousands of protestors of the upcoming primary and how they could request absentee ballots to avoid voting in person.

However, many people approached me informing me that waited weeks for their ballots. And NBC reported that city election officials rejected 84,000 ballots 21 percent of all those received by election officials. That is 84,000 voices that went unheard by our democracy.

Many states have a history of suppressing the voices of minorities. Impossible and arbitrary tests prevented many African Americans from voting, giving legal cover to the widespread belief in Southern states that the right to cast a ballot in any election varied by skin color. Even New York State passed a law requiring an English literacy test to vote. In a city like New York that has a large number of immigrants who may not speak English, this was a very intentional discriminatory act. By 1968, this meant that fewer than half of those who were voting-age in Manhattan, Brooklyn, and the Bronx actually voted.

Activists like Lewis eventually succeeded in showing the nation that the 1965 Voting Rights Act, signed 55 years ago this month, was the necessary antidote to this blatant voter suppression.

Even so, more than half a century later, our voices and our votes are still being suppressed. Language access remains insufficient; voting resources are not supplied to Black and Brown communities; polling sites are closed or moved with little to no notice; absentee ballots arrive after the election or not at all; and, we are witnessing the defunding of our postal service right before one of the most influential elections in our history. As President Barack Obama remarked while eulogizing Lewis : We may no longer have to guess the number of jelly beans in a jar in order to cast a ballot. But even as we sit here, there are those in power who are doing their darndest to discourage people from voting.

The same stumbling blocks that hindered civil rights leaders decades ago seem to have returned, or maybe they never left. Instead they have swelled into more complex obstacles for us to overcome. True democracy must be protected at all costs, we cannot allow the progress that so many have made be slowly rolled back by unconstitutional schemes put forth by those who want to silence the voices of the minorities.

This is why New Yorkers need the passage of a state-level voting rights act to preserve our right to vote. Otherwise, as Lewis points out, if we let up in the slightest, we could easily lose it. We have the opportunity to protect our democracy by passing the John R. Lewis Voting Rights Act of New York.

This legislation will protect voters, make voting more inclusive by adding language accommodations, and mandate that changes to local election laws must be approved by the States Attorney General. These changes arent just good, they are necessary. Lewis trusted us to pick up the torch and continue to cause that Good Trouble. Just like Lewis did in forcing through the 1965 Voting Rights Act, today we must make our leaders fulfill his vision of a more inclusive, and equal government.

Timothy Hunter (@TheTimHunter) serves as the Chairperson of the CUNY University Student Senate, and is an NYC Votes We Power NYC Youth Voting Ambassador.

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Race and Higher Education in Virginia – Diverse: Issues in Higher Education

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by Alvin J. Schexnider

In January 1977, I began a faculty appointment at the Federal Executive Institute (FEI) in Charlottesville. The long, gray winters endured teaching political science at Syracuse University in New York propelled me to look southward, and FEI beckoned.

The thought of returning to the South was met with some trepidation but I decided to take a leap of faith. The reverence paid to Mr. Jefferson locally prompted me to pay attention to Virginias colleges and universities, several of which had begun to lay down markers.

I remain fascinated by how the higher education landscape has changed. Madison College now is highly competitive James Madison University. The former Northern Virginia campus of the University of Virginia now is George Mason University. Christopher Newport University, Old Dominion University and Virginia Commonwealth University essentially commuter schools three decades ago have undergone major transformations.

For the most part, these changes have been substantive. They could not have happened without strong leadership in the executive and legislative branches of government, but also the State Council of Higher Education for Virginia (SCHEV) and of course, institutional leadership.

Dr. Alvin J. Schexnider

Having worked at public universities in Virginia and North Carolina, I believe that the heterogeneity of Virginias higher education institutions is a major asset. Virginia, unlike North Carolina, has a coordinating body rather than a comprehensive university system.

In Virginia every tub stands on its own bottom. Schools with strong leadership and engaged governing boards are able to make significant progress by carving a distinctive niche, and attracting students and faculty who are drawn to its mission, unique character and array of degree programs.

Virginias universities and colleges are major assets that should be deployed to combat the lingering effects of slavery.

Virginia is the birthplace and the incubator of Americas original sin. While several public universities bear the names of slaveholders Madison, Mason, Washington all carry the stain, and its most prominent schools were built by enslaved people. Virginias colleges and universities supported slavery, benefited from it and sought to justify it.

Faculty promoted theories alleging the intellectual inferiority of Black people, and wrote textbooks and articles packed with lies. Snatching Black bodies from graves for medical research and the systematic conscription of Black men in prison to be used as guinea pigs a practice that continued well into the 20th century are among the worst crimes against humanity.

The degradation of human beings found support in the classroom, laboratories, law schools and medical schools of Virginias colleges and universities. The neighborhoods surrounding state-supported academic medical centers are among the most disadvantaged with ZIP codes documenting Third World health resources, life expectancies and infant mortalities but whose citizens derive little direct benefit from their presence.

Virginias colleges and universities must be intentional about addressing the residual effects of slavery. Racial disparities in education, health, criminal justice, housing and income are obvious areas where they can make a difference.

For example, North Carolinas community colleges will provide specialized training for law enforcement agencies in all of the states 100 counties to eliminate racial disparities in policing.

Amazon represents a half-billion dollar state investment. Higher education institutions must be intentional that African American graduates benefit from this venture in ways that exceed increases in an institutions budget.

Applying the intellectual capital and technical know-how of Virginias colleges, universities and academic medical centers to addressing its most intractable racial problems is not asking too much.

Education has been and remains the great equalizer in American society. Virginia can confront the horrors and evils of slavery by being intentional about combating its residual effects. There are countless ways to contribute to the task.

Virginia Commonwealth Universitys L. Douglas Wilder School of Government and Public Affairs sponsors annual symposia on race and society that spotlight selected public policy issues. Recently, UVA released a task force report that recommended 12 key initiatives to improve racial equity at the university. This is a laudable start, but the plan will help the university more than its neglected communities.

In this mea culpa moment, nearly every public, private and third sector organization in the country has issued a statement confirming its commitment to social justice. For many, the promulgation of carefully worded proclamations will be met with skepticism as mere platitudes.

Nearly 30 years ago, Judge A. Leon Higginbotham Jr., quoting U.S. Supreme Court Justice Thurgood Marshall, reminded Justice Clarence Thomas that for millions of Americans, there still remain hopes not realized and promises not filled. We dare not miss this opportunity again.

This column initially was published in the Richmond Times-Dispatch.

Dr. Alvin J. Schexnider is a senior fellow at the Association of Governing Boards of Universities and Colleges.

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Race and Higher Education in Virginia - Diverse: Issues in Higher Education

Shani Cooper-Zubida: Global food security in the shadow of Covid-19 Does the solution for local food production lie with Israel? – Myjoyonline.com

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The Covid-19 pandemic and the ensuing global economic crisis revealed a very troubling fact: the world is unprepared for food security. The complex global systems that were created in the era of accelerated globalization are threatening to collapse: Leading food producers have placed limitations on the export of agricultural goods from their territory, disturbances and interruptions have been encountered along the entire global supply chains from production in the field to the international marketing of food, the decline in demand and buying-power due to the global economic recession, shortage of farm-hands and the contraction of disease amongst workers in the food-packing factories.

But what is important to emphasize is that we still have not truly distanced ourselves from the danger of hunger and the interruption in the global food supply mechanisms. At the same time, the phenomena of rising food prices, the lack of foreign currency for purchasing food on the global market, market disturbances etc., continue vigorously. Tens of millions of people in the Middle East, Africa, Asia and other areas of the world have joined the 820 million people that, prior to the pandemic, were already defined as under-nourished and in danger of hunger or starvation. The World Bank estimates that approximately 40 million people have entered the category of immediate risk in western Africa alone. U.N. reports, and first among them, that of the International Food and Agriculture Organization (FAO), warn of a rising threat of hunger, and the U.N. called upon the international community to maintain open commerce and to refrain from national protectionist policies.

In its annual report on The State of Food Security and Nutrition in the World 2020, the UN projections show that the world is not on track to achieve Zero Hunger by 2030 and, despite some progress, most indicators are also not on track to meet global nutrition targets. The food security and nutritional status of the most vulnerable population groups is likely to deteriorate further due to the health and socio-economic impacts of the COVID-19 pandemic.

This situation raises the question of what we can do to prevent a global food crisis which may result in hunger, political and security instability and rampant migration. Without doubt, international trade systems for food and agricultural necessities such as fertilizers, machinery, fuel, etc. must be kept open and functioning. At the same time, states would do well if they increased their local food production capacity. This food, in addition to supplying caloric needs, must be healthy, nutritious and available to everyone and at an affordable price. For this, local farming requires significant incentives and support in order to increase its production and variety.

The State of Israel, having proved itself over a period of decades an expert in successful innovative farming in some of the most challenging desert and drought-prone areas of the world, can be a supplier of quick, efficient and low-cost solutions for these needs. Drip-irrigation is one of the best examples of this. Today most of the agricultural crops the world over are still grown by dry farming, i.e. farming that is reliant on rain for field irrigation. Moving to irrigated farming would increase the crop yield, would save water and greenhouse gases, and would, over time, create food security. Vegetables, for instance, could be grown a number of times during the year via drip-irrigation as opposed to only once a year when relying on natural precipitation during the rainy season.

Precise agriculture, which supplies all plant needs on an almost individual basis, is another example. Today, sensors are capable of informing precisely how much water and fertilizer is required for each tree and from what diseases it is suffering, and accordingly, an individualized treatment, which is often administered via drones or other methods. The use of satellites for information gathering and remote sensing, computerized greenhouses and continuous monitoring of temperature, humidity and pests/insects from afar also increase agricultural crop yields and create more food.

Everyone knows that without water, nothing can be grown, and in arid Israel, unlimited solutions have been found and implemented. Such an example is the use of purified sewage water for farming, or even the use of saline water; leak prevention and/or the identification of their source in water supply systems; and Hydroponics a form of farming that allows for growing vegetables in water. Water conservation, irrigation monitoring and many other solutions developed in Israel can be implemented relatively easily and at low costs throughout the world.

Knowing the challenges Ghana is facing with Food Security, the state of Israel has put the Agriculture sector at the prime priority of its work in Ghana. Among our activities in the Agriculture sector, Israel has received for the second year a group of 70 agricultural students for 11 months practical training in the Agrostudies program. A new group of 70 students will be sent to Israel when we go back to normal. We also continue in our capacity-building programs, but holding them on-line.

Innovation in agriculture is also an important sector to promote and so the Embassy held the maiden edition of the Israel Green Innovation Competition for Start-ups and trained senior officials in the innovation field as we identify Ghana with a conducive environment for thriving innovators in Africa.

Our Trade and Economic Mission is encouraging more investments and more business between the countries in Agriculture. One of such was the GHrowIL Agriculture conference that brought to Ghana 18 Israeli companies to meet to key players in the Agriculture sector in Ghana for business. The great partnerships forged at this event have led to bilateral business agreements in diverse areas of Agriculture Technology.

In conclusion, the Covid-19 crisis is still very far from being resolved and we will continue to experience its ramifications in almost every realm of our daily lives. Therefore, it is more important today than ever before to understand the fragility of the global food supply chains, the vulnerability of food security to different sources of disturbance, and to increase local food production in a wide-scale. Israel would be both happy and honored to share its rich experience and knowledge in these areas with anyone interesting in learning.

The author H. E. Shani Cooper-Zubida is the Israeli Ambassador to Ghana, Liberia and Sierra Leone.

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The Cryptocurrency XRP Is Having A Good 6 Weeks – Forbes

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US Paper Currency, Stock Market and Exchange, Currency, Finance, Graph

From about 18 to about 30 in just 6 weeks time, thats not bad.

Thats in cents not dollars, though, giving the cryptocurrency that goes by the name of XRP the dramatic price action feel (somewhat) of those infamous penny stocks from Blinder Robinson that traded crazily in the 80s.

The cryptos in general have had a good summer of price action, some in dollars and some in pennies but its XRP thats of interest since my card counting friend in Las Vegas had mentioned it and I wrote about it here in XRP Is The Crypto To Watch, Says Vegas Blackjack Pro.

That posted on July 16th and it was just a few days later that the thing broke above previous resistance at 21 and took off for the much higher price level. At the time I took a bit of heat from experts on Twitter for suggesting that a pro at the 21 tables might have advice about anything crypto. Now it looks like my friend was right.

Maybe he just got lucky, who knows?

Anyway, just for the record, XRP looks like this now on the daily price chart:

XRP daily price chart, 8 23 20.

After tracking mostly sideways to slightly down in price from May to July, you can see the late July breakout. XRP had been unable to rise above the Ichimoku cloud for weeks but then got there easily on some volume. It looks like the selling that comes in at above 31 is likely to be significant enough to prevent further upside, at least for now.

The XRP weekly price chart looks like this:

XRP weekly price chart, 8 23 20.

Like the other cryptocurrencies, XRP has a long way to go to make it back up to the early 2018 highs. Clearly. Whats interesting here is the increase in buying volume that is shown for this summer. The other thing is that price may be about to break above the weekly Ichimoku cloud for the first time in a couple of years. Its almost there.

The XRP monthly price chart looks like this:

XRP monthly price chart, 8 23 20.

The dramatic drop in price is clearly evident on the monthly time frame from the January, 2018 peak until the much lower present. Take a look at the moving average convergence/divergence (MACD) indicator below the price chart: the shorter-term time line is just now crossing above the longer, a positive sign on that measure. Whether it turns out to be an actual buy signal remains to be seen.

This is just a form of price chart analysis where trend is identified and the potential support and resistance levels are suggested a serious investor or trader would want to research the fundamentals and formation of a cryptocurrency like XRP or any of the cryptos before taking any action. Past performance is no guarantee of future results.

I do not hold positions in these investments.No recommendations are made one way or the other.If you're an investor, you'd want to look much deeper into each of these situations. You can lose money trading or investing in stocks and other instruments. Always do your own independent research, due diligence and seek professional advice from a licensed investment advisor.

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The Cryptocurrency XRP Is Having A Good 6 Weeks - Forbes

Want to Invest in Bitcoin? Learn the Basics of Cryptocurrency, Blockchain on the Cheap – PCMag.com

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(Image via Pixabay)

This could be the year investors in blockchain technology have beenwaiting for. It remains to be seen whether the hype over this new storage and security medium has died away enough that people can finally see it as more than just a delivery system for cryptocurrency.

If you've thought about investing in bitcoin or blockchain technology yourself, but want a simple explanation of just what it is that makes it tick, check out TheMega Blockchain Mastery Bundle. It's a truly comprehensive way to learn about blockchain and its possibilities in the new economyand beyond.

This massive e-learning course spans more than 55 hours of training and lectures, so you can tell right away it's much more than just a primer on blockchain. It gets the basic principles of this revolutionary digital accounting system out of the way quickly, highlighting how transactions are not only easier to access on a decentralized network, but infinitely more secure.

You'll glimpse the inner workings of blockchain security, as well as how to implement it yourself as you dive into the possibilities of accessing cryptocurrency, and even potentially making your own. There's plenty of attention given to popular new protocols like the EOS blockchain and its own native cryptocurrency, and how you can leverage your knowledge of it for smart investing. You'll even get a tutorial on how to start coding your own protocols with JavaScript.

Whether you just want a working knowledge of this exciting new way of storing information or are determined to jump ahead of the trends, this is a great resource. PCMag readers can get lifetime access to The Mega Blockchain Mastery Bundle for $39 (97 percent off the MSRP), including updates to keep you abreast of changes in the technology.

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Visionary DJ PLS&TY Explores Cryptocurrency in Limited Vinyl Partnership With Foundation – PRNewswire

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LOS ANGELES, Aug. 26, 2020 /PRNewswire/ --PLS&TY becomes a front-runner in the connection between music and technology by partnering with Ethereum blockchain platform,Foundationto sell a limited quantity of his "Very Special" EP on vinyl. The EP was released digitally in Apriland features four tracks, includingcollaborations from Sean Kingston, Alex Aiono, Wifisfuneral, to name a few.

Foundation's mission is to serve as a stock exchange for art and culture, which allows the market's natural supply and demand to dictate the price of the goods sold on the platform; this dynamic pricing model lets artists benefit directly from the hype that surrounds their work. If you're already anxious for a copy of "Very Special" on vinyl, you'll need to get your hands on a $PECIAL digital token. Early buyers will secure a better price. When the vinyl is ready to ship, the tokens will be redeemable to receive the physical vinyl anywhere in the world; alternatively, token holders can continue to keep the digital value of the token or trade it in the Foundation market. The intersection of music with blockchain is an exciting glimpse into the future of the industry, and PLS&TY is the first musician to dive right in.

Foundation is an exciting new platform for creators to realize the true value of our work and benefit directly from the hype surrounding it. For a lot of people, cryptocurrency might feel inaccessible or complicated, but Foundation has built a streamlined process of buying and selling tokenized goods that puts the power in the hands of artists and our communities. Get in now, be a part of something transformative. You'll thank me later. -PLS&TY

Tommy Leas, a Florida native - better known as PLS&TY - is burgeoning into the electronic dance music scene with his unique sound: languid bass, captivating vocals, and enough upbeat melodies to make anybody feel good. After a collection of chart-topping singles including "Good Vibes" (#1 on iTunes US Electronic Charts), "Down For Me", "Rebel Love (#1 on iTunes US Electronic Charts), and "Motives" (#1 on iTunes US Electronic Charts / Top 25 Billboard Electronic Charts), PLS&TY would see his productions remixed by Grammy-nominated Morgan Page, Rusko, Cazzette, and more. His own remix of Genevieve's "Colors" was featured in a Hershey's chocolate television commercial that has amassed over 1 billion views. With his brand new "Very Special" EP, PLS&TY is showing no signs of slowing down, even after a busy 2019 touring season which included A-List festivals Shaky Beats, Breakaway, Electric Forest, EDC Vegas, & more.

Foundation is a new medium for buying, selling, and trading limited-edition goods and art. Built on the Ethereum blockchain, Foundation claims the power of the stock market and reinvents it forartists, designers, and brands across the music, fashion, fine art, and emerging media.

For press inquiries, please contact:

Unfolded PR[emailprotected]

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US tries to seize 280 cryptocurrency accounts linked to North Korean hacks – NK News

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The United States government is trying to seize 280 cryptocurrency accounts related to theft cases involving hackers linked to North Korea, according to a U.S. Department of Justice release published on Aug. 27.

The Justice Department alleges that North Korean hackers stole cryptocurrencies worth at least $298.5 million from South Korean cryptocurrency exchanges in 2018 and 2019, as well as an exchange focused on the Algorand blockchain based in the United States.

The Wall Street Journal reported that this is the first time a U.S.-based exchange is known to be hacked by North Korea. And though cryptocurrencies in theory are not supposed to be under government control, its unclear to many whether or not the U.S. really has the legal standing to seize these accounts.

Investigators from the FBI, the IRS and the U.S. Department of Homeland Security were able to track the stolen funds through unique qualities of the blockchain system. All transactions for each specific cryptocurrency are logged on a public ledger, although the identities behind the transactions are unique pseudonyms composed of letters and numbers.

Often, an individual controls many unique identities to the point where an individual could theoretically use a unique address for every transaction in which they engage.

According to the U.S. Justice Department, North Korean hackers leveraged these unique identities, as well as explicit attempts to pass themselves off as Russian and Canadian nationals when making cryptocurrency exchange accounts.

The U.S. blamed lax oversight and insufficient Know Your Customer protocols at various virtual currency exchanges, which among other services can turn alternative coins like the stolen South Korean Proton Tokens into more mainstream currencies like Bitcoin. Mainstream currencies can then be converted into real-world cash.

At first, the hackers tried to launder their stolen funds further by exchanging them for other cryptocurrencies a tactic known as chain hopping, according to the justice department filing.

Chain hopping is a tactic frequently used by individuals who are laundering the proceeds of virtual currency thefts, as the practice moves transactions from one currencys public ledger to another, obscuring the transaction trail.

Kim Grauer, head of research at a blockchain analysis company called Chainalysis, said that she has seen these tactics before.

Our research shows that, in the past, the DPRK-linked Lazarus hacking group moved most of their stolen funds to exchanges with low Know Your Customer (KYC) requirements, she said. However, more recently in 2019, they began using mixers in an attempt to obfuscate the flow of funds on the blockchain.

But the hackers primary goal was eventually transforming their stolen funds into bitcoins, according to a flowchart in the justice department filing. That way, hackers could use Over The Counter (OTC) traders who have less strict oversight compared to more automated exchanges to turn the bitcoins into U.S. dollars.

Three Chinese OTC accounts received the stolen funds, the filing stated. In March, the U.S. placed criminal charges on two Chinese nationals, Tian Yinyin and Li Jiadong also known as snowsjohn and khaleesi and sanctioned them. The two allegedly laundered $100 million worth of cryptocurrency for North Korea, turning it into real-world cash value items like gift cards and actual U.S. dollars.

In spite of the actors use of VPN services to mask their location during this theft, law enforcement was able to trace logins to an IP address within North Korea, the filing stated. It is rare for this kind of activity to be traced back to DPRK territory itself, partially because North Korea has thousands of hackers deployed abroad to avoid being identified or blamed.

As part of our commitment to safeguarding national security, this office has been at the forefront of targeting North Koreas criminal attacks on the financial system, acting U.S. attorney Michael R. Sherwin said in a Justice Department press release issued alongside the filing.

This complaint reveals the incredible skill of our Cryptocurrency Strike Force in tracing and seizing virtual currency, which criminals previously thought to be impossible, Sherwin said.

Edited by Kelly Kasulis

The United States government is trying to seize 280 cryptocurrency accounts related to theft cases involving hackers linked to North Korea, according to a U.S. Department of Justice release published on Aug. 27.

The Justice Department alleges that North Korean hackers stole cryptocurrencies worth at least $298.5 million from South Korean cryptocurrency exchanges in 2018 and 2019, as well as an exchange focused on the Algorand blockchain based in the United States.

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US tries to seize 280 cryptocurrency accounts linked to North Korean hacks - NK News

Lazarus Group linked to phishing attacks on cryptocurrency sector – SecurityBrief Asia

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Cybersecurity firm F-Secure has published new research suggesting that the advanced persistent threat (APT) group Lazarus Group, also known as APT38, is behind a recent attack against a company working in the cryptocurrency space.

The attack was part of a wider campaign that targeted cryptocurrency businesses in countries including Japan, Singapore, China, South Korea, Hong Kong, the Philippines, the United States, Canada, Argentina, the United Kingdom, the Netherlands, Estonia, and Germany. The wider campaign involved phishing campaigns that have been ongoing since January 2018, if not earlier.

In this case, the attacks were launched through a phishing document sent via LinkedIn to employees at the targeted organisation. This phishing document was styled to look like a job advertisement for a role in a blockchain company.

F-Secure director of detection and response, Matt Lawrence, says the research is based on insights from the companys incident response, tactical defence, and managed detection and response.

This attack bears a number of similarities with known Lazarus Group activity, so were confident they were behind the incident. The evidence also suggests this is part of an ongoing campaign targeting organisations in over a dozen countries, which makes the attribution important, he notes.

The research points out the malicious implants used in the attack were almost identical to tools previously used by Lazarus Group in the past. While the group is evolving its toolset over time, there are opportunities for organisations to create defences and protect themselves against further attacks.

F-Secure also says that Lazarus Group invests significant effort in evading an organisations defences. It does this by disabling antivirus software on host devices and removing all traces of evidence of its malware.

The target in this investigation had a leading EDR and network security tool installed that captured telemetry of Lazarus Groups actions, but this did not result in a positive detection that was actioned. It is F-Secures view that people play an important role in building effective detection capability, and this incident serves as an example of the need to invest in people as well as technology.

According to F-Secure, Lazarus Groups interests reportedly align with the Democratic Peoples Republic of Korea (DPRK). This claim is backed up by numerous government bodies, including those belonging to the United Kingdom and the United States.

The United States Department of Treasury states, Created by the North Korean Government as early as 2007, this malicious cyber group is subordinate to the 110th Research Center, 3rd Bureau of the RGB. The 3rd Bureau is also known as the 3rd Technical Surveillance Bureau and is responsible for North Koreas cyber operations.

In addition to the RGBs role as the main entity responsible for North Koreas malicious cyber activities, the RGB is also the principal North Korean intelligence agency and is involved in the trade of North Korean arms.

The Lazarus Group has also been named as the APT behind the 2017 WannaCry ransomware attacks.

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Lazarus Group linked to phishing attacks on cryptocurrency sector - SecurityBrief Asia

Brave Browser Delves Further into Crypto with Gemini Integration – Finance Magnates

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Web browser Brave is expanding its cryptocurrency features with an integration with cryptocurrency exchange Gemini. Brave users will be able to buy, trade and receive crypto assets directly through Gemini Trading Widget.

The company behind the privacy-oriented browser said users can access the Gemini card directly on the new tab page to trade any crypto asset listed on the Gemini exchange. Within its attention-based rewards ecosystem, users are also provided with an option to view their balances, and obtain deposit addresses without leaving the browser.

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Users can turn it off and hide the widget directlyfrom the browser tabsor by managing their settings.

Both companies didnt reveal the business aspects of the partnership. But browsers like Brave typically generate revenue based on how much traffic they send to search engines or other sites. It also pays users in its own cryptocurrency, the Basic Attention Token (BAT), to view ads without accessing users personal data.

In addition, all Brave-verified content creators can custody their digital assets in a Gemini Creator Wallet. That means Brave creators can receive their BAT payments into their Gemini Creator Wallet, or in any other fiat or crypto asset supported on Geminis Exchange, Gemini further states.

Cypherium Listed as Preferred Startup by French Investment BankGo to article >>

According to the announcement, the cooperation is an important step in Braves strategy to boost the adoption of cryptocurrencies and facilitate their access for its users.

In addition to a particular focus on privacy, Brave has been developing an in-browser crypto trading tool for a while. The addition of more options puts the open-source browser more squarely in the race with other crypto-focused browsers, like Opera.

Brave usersare already able to freely exchange Bitcoin, Ethereum, Ripple, Litecoin, and other cryptocurrencies supported by Binance within the comfort of their browser.

On top of that, they are also be able to explore a plethora of relevant functions, including buying, depositing, trading, and viewing summaries, thus eliminating the need for other applications.

Within its attention-based rewards ecosystem, users are provided with an option to trade on both the Binance.com andBinance.USplatforms.

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$50,000,000,000 in Bitcoin and Cryptocurrency Flowing Out of China: Report – The Daily Hodl

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More than $50 billion worth of cryptocurrency fled China-based wallets in the past 12 months, according to the blockchain analytics firm Chainalysis.

The Chinese government only allows its citizens to move $50,000 USD or less out of the country each year. Wealthy Chinese citizens have traditionally skirted that regulation by sinking money into real estate abroad or by funneling investments through shell companies, though the government has reportedly worked to stop this from happening.

Now, some of those same citizens appear to be turning to crypto, according to areport from Chainalysis.

Over the last twelve months, with Chinas economy suffering due to trade wars and devaluation of the yuan at different points, weve seen over $50 billion worth of cryptocurrency move from China-based addresses to overseas addresses. Obviously, not all of this is capital flight, but we can think of $50 billion as the absolute ceiling for capital flight via cryptocurrency from East Asia to other regions.

Chinese citizens have specifically utilized the US dollar-pegged Tether (USDT) for capital flight, as well as other purposes. USDT represents 93% of all stablecoin value moved by addresses from East Asia.

Overall, stablecoin usage dominates the East Asia region, representing 33% of on-chain transaction value, compared to 21% in Western Europe and 17% in North America. This is partly due to the Chinese governments decision in 2017 to ban direct exchanges of yuan for cryptocurrency.

As a region, East Asia is the worlds largest cryptocurrency market, responsible for 31% of all cryptocurrency transacted in the past 12 months.

Featured Image: Shutterstock/ssguy

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Will Cryptocurrency Casinos Completely Take Over the iGaming Industry? – Artvoice

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Although were well into the digital era, technology continues to surprise us. The iGaming sector has grown into the multi-billion-dollar industry, with millions of casino aficionados playing online casino games all over the world.

The newest trend that caught our attention was definitely the entrance of cryptocurrency casinos into the market. Based on the performance of cryptocurrencies so far in 2020, we wanted to dive into further detail, and see how this impacts online casinos.

But what are the cryptocurrency casinos? How do they work, and what are their advantages?

Essentially, cryptocurrency casinos are online casinos that accept payments via diverse cryptocurrencies Bitcoin, Litecoin, Ripple, Ethereum, and more. They dont look any different from other online casino platforms in terms of game selection and other features. The main difference is in the payment methods they accept.

Now, you can come across some online casinos that accept payments made in cryptocurrencies along with other regular banking options credit and debit cards, e-wallets, and similar. Additionally, there are others that only allow payments made in cryptocurrency. The latter ones are still outnumbered, but we cant deny the fact that more people are starting to use cryptocurrency as their primary payment option.

So, lets see what the advantages of using cryptocurrency as your primary payment option while playing in online casinos are. The first one is that the transactions are instant and hassle-free. Unlike other more traditional banking options that can take up to a couple of days to process a payment, cryptocurrency will be transferred without any delay.

Another advantage thats crucial is that you can make all your payments anonymously. For example, when you want to take a loan from a bank, they will check your previous transactions. In case they see numerous payments made to online gambling sites, its highly unlikely they will grant your request.

On the other hand, when you make transactions via blockchain technology (the tech behind cryptocurrencies), there are no third-party organizations involved its done anonymously. Naturally, there are some cryptocurrencies that are more private than others, so you should do some research before you choose the one youll use for gaming purposes.

Furthermore, there are no additional fees when paying via cryptocurrencies. As youve probably noticed, some banking options include fees for transactions to and from your gaming account.

Another reason people prefer to use blockchain technology and cryptocurrencies is the fact that they are a globally accepted payment method. This means that there is no need to convert currencies with digital money. We consider this a major advantage simply because you wont be exposed to various fees that occur during these conversions.

As you can see, there are numerous reasons you should opt for cryptocurrency casinos. However, their development is still in the early stages, and we have yet to see how the rest of the world will react to these types of casinos will they be skeptical, or accept them with arms wide open? Only time will tell.

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Chainalysis Confirms Venezuelans are Increasingly Using Bitcoin and other Cryptos for Remittance Payments, as Bolivar is Useless – Crowdfund Insider

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Venezuela is experiencing one of the worst economic crises in history. The South American countrys national currency, the Bolivar, has become practically worthless due to extremely high levels of hyperinflation (about 10,000,000% during 2019).

Venezuelas residents are also suffering due to serious socioeconomic challenges, as the country has gone from being one of the wealthiest in the Latin American (LatAm) region to one of the poorest.

According to Chainalysis, cryptocurrency has taken on a key in the nations struggling economy. Venezuelas digital currency market represents a confluence of several topics at the core of cryptocurrencys key value propositions and risk factors.

Chainalysis further claims that the country has reached one of the highest rates of cryptocurrency usage in the world. Venezuela notably placed third on the blockchain security firms Global Crypto Adoption Index, as many of the nations residents now depend on cryptocurrency to receive remittance payments from individuals or businesses abroad. Venezuelans have also been using virtual assets to maintain their savings against record levels of hyperinflation.

The countrys contested government, which is led by Office of Foreign Assets Control (OFAC)-sanctioned Nicolas Maduro and well-known internationally for its corruption, has introduced its own so-called cryptocurrency initiatives. Maduros administration claims that the new digital currency will help the nations economy and its citizens.

Chainalysis confirms that Venezuelan officials have said that bypassing sanctions is one of the main goals of these crypto-related initiatives.

Chainalysis notes in its report:

Aside from the concerns around sanctions violations, the Maduro regimes cryptocurrency projects raise questions of whether people would embrace government-led efforts to utilize a tool initially designed to immunize currency from government financial policy especially when that government has so squandered its peoples trust as Venezuelas has.

An extensive four-month investigation by Reuters in 2018 revealed that there was no evidence of the controversial, government-backed Petro cryptocurrency being used in Venezuela. There are several legitimate digital asset exchanges operating in the country, including LocalBitcoins. According to several reports, Venezuelans do use Bitcoin (BTC) and other virtual currencies like Dash. However, many of them have said they dont trust the Petro and do not think its a legitimate store of value or medium of exchange.

Chainalysis notes:

We have a lot of anecdotal evidence that people in Venezuela have become increasingly interested in cryptocurrency. That fits with our interviews of cryptocurrency experts on the ground in Latin America users not just in Venezuela, but in other countries facing harsh economic conditions, turn to cryptocurrency to preserve their savings in the face of monetary devaluation.

They added:

Cryptocurrency is also important for remittances. Roughly 5 million Venezuelans have left the country to seek opportunity elsewhere during this economic crisis, and many of their friends and family back home rely on them to send money from abroad. Cryptocurrency is hugely helpful here, as users can use it to send funds overseas faster and with lower fees than they can with fiat. Cryptocurrency also enables them to do this without a bank account, which is difficult to obtain for many Venezuelans.

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Chainalysis Confirms Venezuelans are Increasingly Using Bitcoin and other Cryptos for Remittance Payments, as Bolivar is Useless - Crowdfund Insider

Cryptocurrency Mining Hardware Market to Witness Huge Growth By 2027 | Top Manufacturers Bitfury Group, Canaan Creative, Canaan Creative, BitMain…

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New Jersey, United States,- A recent report on Cryptocurrency Mining Hardware Market added by Verified Market Research provides a detailed analysis of the industry size, sales forecast, and geographic landscape related to this business line. Further, the report highlights key hurdles and latest growth trends which are accepted by leading players and are part of the competitive spectrum of this business.

The Cryptocurrency Mining Hardware market research report provides a comprehensive analysis of this business segment and provides essential insight into the factors influencing revenue generation as well as industry growth. Apart from the regulatory outlook, the document also includes a detailed assessment of the regional scope of the market. Further, the report includes detailed SWOT analysis and explains the driving factors of the market.

Global Cryptocurrency Mining Hardware Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2019 to 2026.

Additional information including limitations & challenges faced by new entrants and market players in tandem with their respective impact on the revenue generation of the companies is enumerated. The document scrutinizes the impact of COVID-19 pandemic on growth as well as future remuneration of the market.

The report covers extensive analysis of the key market players in the market, along with their business overview, expansion plans, and strategies. The key players studied in the report include:

The report provides valuable insights about the advancements of the Cryptocurrency Mining Hardware market and the approaches regarding the Cryptocurrency Mining Hardware market with analysis of each region. The report further talks about the dominant aspects of the market and explores each segment.

Other details specified in the Cryptocurrency Mining Hardware market report:

Cryptocurrency Mining Hardware Market, By Type

Central Processing Unit Graphics Processing Unit Field Programmable Gate Array Application-Specific Integrated circuit

Cryptocurrency Mining Hardware Market, By Application

Enterprise Personal

Cryptocurrency Mining Hardware Market, By Coin

Bitcoin Ripple Ethereum Others

To understand the Cryptocurrency Mining Hardware market dynamics, the market is analyzed across major global regions and countries. Verified Market Research provides customized specific regional and country-wise analysis of the key geographical regions as follows:

North America:USA, Canada, Mexico

Latin America:Argentina, Chile, Brazil, Peru, and Rest of Latin America

Europe:UK, Germany, Spain, Italy, and Rest of EU

Asia-Pacific:India, China, Japan, South Korea, Australia, and Rest of APAC

Middle East & Africa:Saudi Arabia, South Africa, U.A.E., and Rest of MEA

Comprehensive assessment of all opportunities and risks in the Cryptocurrency Mining Hardware market.

This exclusive study addresses key questions for stakeholders in the Cryptocurrency Mining Hardware Market:

Thank you for reading our report. The report is available for customization based on chapters or regions. Please get in touch with us to know more about customization options, and our team will ensure you get the report tailored according to your requirements.

About us:

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals, and critical revenue decisions.

Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.

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Need a Job? Elon Musk May Have One for You in South Texas. – Reform Austin

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It may not be welcomed by residents, but the tiny south Texas town of Boca Chica Village may wind up as a spa destination for the well-heeled who are interested in space travel. Its all part of Elon Musks plans to turn the area into a 21st Century spaceport.

According to a recent job posting, the hunt is on for a resort development manager to oversee the development of SpaceXs first resort from inception to completion.

SpaceX is committed to developing revolutionary space technology, with the ultimate goal of enabling people to live on other planets, the job posting reads. Boca Chica Village is our latest launch site dedicated to Starship, our next generation launch vehicle. SpaceX is committed to developing this town into a 21st century spaceport. We are looking for a talented resort development manager to oversee the development of SpaceXs first resort from inception to completion.

Applicants will need experience bringing teams and processes from development to production, strong leadership skills and be willing to work long hours and weekends.

Residents arent exactly enamored with Musk. They complain of noise from rocket launches and bullying tactics to get them to sell their homes. SpaceX reportedly now owns half of the villages 35 homes.

Musk is putting down more roots in Texas. In late July, Musk announced plans to build a Tesla Cybertruck plant just outside Austin.

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Elon Musk confirms Tesla gigafactory was target of foiled cyberattack – MarketWatch

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A Tesla Inc. logo is reflected in the glass of a closed showroom in San Diego. Bloomberg News

Elon Musk confirmed Thursday that the Tesla Inc. gigafactory in Nevada was the target of a cyberattack that was foiled by the FBI.

The blog Teslarati reported Thursday that a Russian man approached a worker at the factory in July through the WhatsApp chat app, and offered him $1 million to install malware into Teslas internal network that would cause a distributed denial-of-service attack. While Teslas cybersecurity team was distracted by the DDoS attack, the malware would access corporate secrets that the hackers could hold for ransom. Instead, the worker reported it to officials at Tesla, who alerted the FBI. He reportedly pretended to go along with the plan and wore a wire during future meetings with the Russian man, who was arrested Aug. 22 in Los Angeles in an apparent attempt to flee the U.S.

In a tweet replying to the Teslarati report, Musk confirmed This was a serious attack.

The Teslarati report lines up with a criminal complaint filed Aug. 23 in U.S. District Court in Nevada that accused Egor Igorevich Kriuchkov, a Russian national, of attempting to recruit a worker to introduce malware at an unidentified company.

The purpose of the conspiracy was to recruit an employee of a company to surreptitiously transmit malware provided by the coconspirators into the companys computer system, exfiltrate data from the companys network, and threaten to disclose the data online unless the company paid the coconspirators ransom demand, the Justice Department said in the filing.

Tesla TSLA, +3.97% did not immediately respond to a request for comment.

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Elon Musks Net Worth Nears $100 Billion As Tesla Stock Burns Rubber – Forbes

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Elon Musk is on the verge of becoming the world's fifth centibillionaire.

Elon Musk is on the verge of breaking his twelfth digit. Shares of his electric carmaker Tesla jumped 3.75% on Thursday, boosting Musks net worth by $3.2 billion, to $98.8 billionjust $1.2 billion away from making Musk the fifth centibillionaire in the world.

He is the worlds fifth-richest person, according to Forbes real-time ranking, clocking in ahead of the Oracle of Omaha Warren Buffett and behind Facebooks Mark Zuckerberg.

Musks fortune has quadrupled since mid-March, when he ranked No. 31 on Forbes Worlds Billionaires list with a net worth of $24.6 billion. He owns 21% of the $416 billion (market cap) company but has pledged more than half his stake as collateral for personal loans; Forbes applies a discount to his pledged shares to account for the loans.

Tesla stock will split on a 5-for-1 basis on Friday after the market close and start trading on a split-adjusted basis on Monday. Shares have risen 35% since Tesla announced the move on August 11.

Analysts are divided on Teslas meteoric rise. Bernstein analyst Toni Sacconaghi called the companys valuation mind-boggling in late July. "Despite our relatively bullish stance on electric vehicle evolution, and structural advantages we believe Tesla may hold, we find it difficult to justify Tesla's current valuation even under our most bullish/imaginative scenarios, Sacconaghi wrote in a research note. He also warned that the Chinese government could retaliate against Tesla and other American tech companies over President Trumps TikTok ban.

Wedbushs Dan Ives, who recently raised his bull case price target to $3,500 a share, contends that Tesla will keep soaring. We still think bright days are ahead for Tesla, Ives told Bloomberg last week. Despite the haters who continue to scratch their heads, the stock moves higher.

Musk has received two enormous stock option grants this year, worth $6.4 billion, as part of his compensation package. A third is on the way if Tesla maintains a six-month average market capitalization of $200 billion, and posts either $55 billion of revenue or $4.5 billion of adjusted EBITDA for the previous four consecutive quarters.

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Stocks & Shares, Art, Antiques and Property: Peak Uncertainty – Even Elon Musk is off by 245% – IFA Magazine

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Normal life, so say, returns when the nations kids go to school, and our young adults flood off to Universities in unprecedented numbers. COVID in the UK is trickling away, the housing market is roaring, The future is clear, and it is web and tech-based. What could possibly go wrong?

Most of the time it is easy to identify emerging trends, to predict who the various gears, cogs and levers of society and the economy will mesh and to place your bets in a considered manner, the essence of smart investing. But these are not normal times, and it requires excellent peripheral vision to identify what opportunities and threats are racing to the fore, we are just out of the starting gate, the first fence is looming, where would you place your bets?

Stocks & Shares

With the benefit of a time-machine, most would be retrospectively piling into Tesla and Amazon stocks. Indeed even Teslas CEO, Elon Musk, called it wrong; declaring on May Day that Tesla stock was too high in his May 1st tweet, having peaked at $869.82. The stock has jumped by up 245% since. If Musk, now the fourth wealthiest person on the planet, cant predict his own stock price, the market must be irrational. Or perhaps he is? But is this a rational irrationality and therefore predictable? Are prescient investors backing a generational reset, as with thedot.comboom at the millennium? Or is this a bible created with money fleeing other sectors?

What we are seeing is the distorting effects of the transfer of wealth between asset classes. The complex weave of bond yields, profitability, taxation and growth are twisted by the uncertainty of the world economy, and distorted by Government and Central Bank intervention. The difficulty is discerning what is the effect of a short term distortion, and where the longer-term real growth lies.

Property

Commercial investment seems easy to call, people will be staying home to work, demand for centralised and expensive office space will fall away, along with rents and returns, The knock-on for retail landlords doesnt look much better than that. You would have thought residential would be similarly easy to call, but the market is operating counter to received wisdom, Estate Agents are reporting surges in activity, driving prices higher. Buyers are buying, and sellers are selling. Is it pent up demand? The lure of low interest rates, the stamp duty holiday? Or just business as usual.

Many predict that rising unemployment will kill demand, aided by tightening lending and cautious mortgage valuers. However, house prices may be very responsive when prices are rising, but are notoriously sticky when it comes to price falls. For house prices to fall the market needs vendors prepared to undercut the market to move. That means enough people need to be suffering the threat or reality of repossession, or unaffordable mortgage payments to cause the market to be undermined. Otherwise, people sit out a market which is stagnant. There is no immediate repossession crisis looming, and until furloughing is fully withdrawn, it wont be clear exactly how many people will have been thrown into the financial distress of unemployment. Even assuming that is as bad as some predict there is still the probability that the Chancellor, Rishi Sunak, will intervene with new mortgage payment support benefits or payment holiday entitlements. It is clear the Government are taking the view in for a penny, in for a pound so we can expect imaginative, and possibly expensive fixes to keep prices stable. The market is almost impossible to call in advance, but as ever will have been completely obvious when reviewed with hindsight from the other side of events.Continue reading article

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Stocks & Shares, Art, Antiques and Property: Peak Uncertainty - Even Elon Musk is off by 245% - IFA Magazine

Musk Wealth Tops $100 Billion as Bezos Worth Twice as Much – Bloomberg

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Jeff Bezos and MacKenzie Scott in 2018.

Three of the worlds richest people have achieved staggering new levels of personal wealth.

The net worth of Amazon.com Inc. founder Jeff Bezos eclipsed $200 billion on Wednesday as shares of the e-commerce giant climbed to a record. The move simultaneously pushed his ex-wife MacKenzie Scott, 50, to the brink of becoming the worlds richest woman, just behind LOreal SA heiress Francoise Bettencourt Meyers.

Elon Musk, meanwhile, extended an extraordinary stretch of wealth gains to become a centibillionaire. Tesla Inc. shares rallied Wednesday, pushing his net worth to $101 billion, according to the Bloomberg Billionaires Index, a listing of the worlds 500 richest people.

Tech companies boosted the S&P 500 and Nasdaq Composite indexes to new highs for a fourth straight day, buoyed by news that the Federal Reserve is likely to keep short-term interest rates near zero for at least five years.

The gains by Bezos, 56, and Musk represent just the latest high water mark for wealth accumulation in a topsy-turvy year defined by both surging markets and catastrophic human and economic loss. The worlds 500 richest people have gained $809 billion so far this year, a 14% increase since January, even as a global pandemic caused a record drop in gross domestic product and millions of lost jobs.

The rising income inequality has provoked sharp responses from many progressive politicians and critics on the left. U.S. Senator Bernie Sanders earlier this month introduced legislation to tax extreme wealth gains during the coronavirus crisis.

We cannot continue to allow billionaires like Jeff Bezos and Elon Musk to become obscenely rich while millions of Americans face eviction, hunger and economic desperation, Sanders said Wednesday in a statement. Its time to fundamentally change our national priorities.

Others view their massive wealth as justified, saying theyve earned it through the creation of singular businesses. When you look at Musk and Bezos, its understated to say that in their own ways, theyve changed the world, said Thomas Hayes, chairman of Great Hill Capital.

The surge in wealth is especially concentrated in the upper ranks of the billionaires index and has been fueled largely by tech stocks, which have been on a tear as the pandemic drives more people online. That also includes a rise in the number of retail investors buying stocks.

Musk, 49, now one of four centibillionaires in the world, has seen his fortune grow by $73.6 billion this year, a jump still smaller than Bezoss, who is up by $87.1 billion. Facebook Inc.s Mark Zuckerbergs net worth topped $100 billion earlier this month. On Wednesday alone, it rose by $8.5 billion.

U.S. tech tycoons havent been the only beneficiaries. Indias Mukesh Ambani became the first Asian to rank among the worlds five richest last month. Hes gained $22.5 billion this year on the back of a boost in shares of his conglomerate Reliance Industries Ltd., whose tech division has attracted recent investments from the likes of Facebook and Silver Lake.

And despite growing tensions with the U.S., Chinas tech billionaires have gained this year too. Tencent Holdings Ltd. Chief Executive Officer Pony Ma has amassed $16.6 billion this year and is now worth $55.2 billion. Alibaba Group Holding Ltd.s Jack Ma and William Ding of NetEase Inc. have also added more than $12 billion each, putting their fortunes at $58.9 billion and $30.8 billion, respectively.

With assistance by Jack Witzig, Tom Metcalf, and Richard Macauley

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Musk Wealth Tops $100 Billion as Bezos Worth Twice as Much - Bloomberg

Revealed: Twitter Habits of the Crypto Elite – Cointelegraph

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Many crypto heavyweights use Twitter as their primary tool for sharing information (or even misinformation) about their own projects or other interesting subjects. Some of them even consider Twitter engagement their most important performance indicator.

We decided to put the Twitter habits of the crypto elite under a microscope to get a better sense of how they actually engage with the popular social media platform.

For our analysis, we picked 13 crypto entrepreneurs (we measured each Winklevoss twins habits independently). To make our list, the subjects had to be actively running a crypto business and command a strong Twitter following at the same time. Our analysis is based on each subjects last 1,000 public tweets, collected on August 11, 2020.

The subjects of our Twitter study. Source: Cointelegraph.

Seven of the 13 people on our list rely on Twitters conventional web interface to do their tweeting. The other six are mobile-first: two favor iPhone, four favor Android. Vitalik Buterin seems to be using the web interface almost exclusively for his tweets.

Meanwhile, the Winklevoss twins share not only the same appearance, but the same preference for tweeting from an iPhone. Tyler Winklevoss is perhaps the most active Twitter user on our list pulling his 1,000 latest tweets only took us back to mid-June.

At the other end of the activity specture, Brad Garlinghouse and Jihan Wu havent even tweeted 1,000 times in the entire lifetime of their account.

Most members of our list tweet on an individually consistent level the number of tweets per day mostly stays the same. But some also have predictable variances. Weekend tweet production just isnt in the cards for Garlinghouse, Barry Silbert, or either Winklevoss twin.

Adam Back plays it backwards from this crowd: his Twitter activity explodes on the weekends.

To analyze the time of day that our subjects most commonly tweet would call for gathering accurate time zone data for every tweet. This can be tricky for a couple of reasons: many on our list are global jetsetters, and a tweets geographic information is not always public.

We wanted to learn first-hand from the crypto elite how they view their Twitter activity and what role it plays in their busy lives. Litecoin (LTC) founder Charlie Lee told us that Twitter is rather important to him: I use Twitter to announce Litecoin news and for shitposting. He added that his favorite people on Twitter are Udi Wertheimer, Samson Mow, Stefan Jespers and Riccardo Spagni.

Hashcash creator Adam Back told us he had recently written a tweet that expresses his philosophy of Twitter: its for chit-chat and shit-taking.

Source: Twitter.

Charles Hoskinson told Cointelgraph that his Twitter feed is a bulletin board of what's happening in my industry and the world that day. His favorite person on Twitter is Elon Musk, and he has some advice for Twitter beginners:

Don't engage trolls, use the mute button often.

Roger Ver told us that he has a simple Twitter strategy: I try to tweet once per day about whatever is on my mind that day. Bitcoin.com and BCH are on my mind most of the time, so they find their way into my tweets often.

Ver added that his favorite Twitter personality by far is Sal Mayweather. His advice for aspiring crypto Twitteratti? Keep an open mind.

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Revealed: Twitter Habits of the Crypto Elite - Cointelegraph