Monthly Archives: September 2021

Google Offering 10,000 Free Educator Certifications to Support Nevada Teachers – Nevada Governor

Posted: September 10, 2021 at 5:33 am

September 09, 2021

RENO,Nev. Google isproviding 10,000 Certified Educator Level 1 vouchers at no cost across the State.Throughsupport for the Nevada Department of Education, the certifications will be offered to teacherswho want to grow and demonstrate their proficiency in Google Workspace toolsfor classroom teaching.

The programconsists of a Fundamentals Course and a Level 1 Academy to help educators learnvaluable technology skills useful in both hybrid and virtual environments. Onceachieved, the certification is valid for three years.Our goalis to provide educators with opportunities to develop the digital skills theyneed in any tech-driven classroom, said Kate Franko, Googles Regional Head ofData Center Public Affairs. We hope this training will make their work easier,even more impactful, and create ripple effects across Nevada that benefit bothteachers and students."The programis available to many groups of educators working with Nevadas studentsincluding: licensed Nevada teachers and Alternative Route to Licensure (ARL)teachers, teacher preparation faculty at Nevada universities and ARL programs, contractededucational technology specialist computer teachers, pre-service teachersaccepted to a Nevada teacher preparation program, school librarians and mediaspecialists.Nevadaseducators are the key to fostering students who are globally prepared andfuture-ready, said Jhone Ebert, State Superintendent of Public Instruction. Asthe technology of our world continues to rapidly evolve, it is critical to buildour educators capacity to support our students and I thank Google for providingthis opportunity.Applicationsto join the initial cohort of 2,500 educators to receive training this year inthe Level 1 Certification are open starting today online. The remaining 7,500 certification voucherswill be available in 2022 and beyond. In addition to training teachers, acohort of educators already achieved Google Certified Trainer status. Thesenewly Certified Trainers will be able to assist with the monumental undertakingof certifying up to 10,000 educators in the Level 1 program in the future.Theeducators who will take this Level 1 course, and those who have already becometrainers, are extremely dedicated individuals who will develop their skills tobenefit themselves, their students, and their peers, says Amy Mayer, CEO andFounder of friEdTechnology, the Google for Education Professional Developmentpartner delivering the training.This dedication combined withnewly-minted tech skills will support their efficiency and effectiveness in theclassroom.###

AboutGoogle in NevadaIn July2019, Google broke ground on its first $600 million data center in Henderson,Nevada, with a second $600 million expansion following in 2020. In 2020 Googlealso announced a new $600 million investment in Storey County, bringing itstotal investment in Nevada to $1.8 billion. Once fully operational, all siteswill employ many people in a variety of fields including computer technicians,engineers, and various service, maintenance, and security roles.

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DOJ preps to sue over Google’s ad tech, even without its antitrust chief – Politico

Posted: at 5:33 am

With help from Leah Nylen and John Hendel

Editors Note: Morning Tech is a free version of POLITICO Pro Technology's morning newsletter, which is delivered to our subscribers each morning at 6 a.m. The POLITICO Pro platform combines the news you need with tools you can use to take action on the days biggest stories. Act on the news with POLITICO Pro.

Ready for round 2? The Justice Department is preparing yet another suit against Google, and it could happen before DOJ antitrust nominee Jonathan Kanter is confirmed.

230 watch: Theres no shortage of bills that would tighten social media content moderation rules now working their way through Congress. But which ones stand a chance, and which are just for show?

Eyes on Texas: The states abortion restrictions could cause trouble for ride-sharing companies, and a separate law waiting to be signed could ensnare social media platforms if theyre accused of censoring conservative viewpoints.

ITS TUESDAY, SEPT. 7. WELCOME BACK TO MORNING TECH. Im your host, Benjamin Din. Huge thank you to everyone who weighed in on headphone suggestions. The pair I ordered arrived last week, and they have been incredible.

Got a news tip? Email me at [emailprotected] and find me on Twitter @benjamindin. Got an event for our calendar? Send details to [emailprotected]. Anything else? Team info below. And don't forget: Add @MorningTech and @PoliticoPro on Twitter.

DOJ READIES ANOTHER GOOGLE SUIT An actual filing against the search giant still isnt imminent, two people familiar with the probe tell POLITICO antitrust maven Leah Nylen, but Googles odds of avoiding a fifth major antitrust suit arent good. Prosecutors have spent months crafting a complaint focusing on one of the crown jewels in the companys business model: its huge share of the $70.2 billion spent last year on online display and video advertising, according to the Interactive Advertising Bureau.

After Aon and Willis Towers Watson called off their deal to build the worlds biggest insurance brokerage and risk management service in July, DOJ antitrust reassigned the lawyers gearing up for trial in that case to the probes into Google and Apple. Their marching orders: Wrap up those probes by the end of the year.

But the Google ad tech probe is the closest to the finish line, and the Justice Department wont be waiting on Kanter, the presidents pick for assistant attorney general for antitrust, to get the OK from the Senate. Attorney General Merrick Garland and Associate Attorney General Vanita Gupta will make the final call on whether to sue Google if Kanter still isnt confirmed by the time prosecutors are ready. Their involvement as the decision-makers could also help assuage tech industry concerns about possible conflicts of interest posed by Kanters former clients, many of whom have complained about the search giants dominance.

Still under debate at DOJ: where to file. The department usually prefers D.C., but antitrust suits against Google by state attorneys general and private plaintiffs are already proceeding before Judge P. Kevin Castel in Manhattan federal court. Filing in New York would let one court decide Googles fate.

Walking down memory lane: Googles ad tech has been one of DOJs main focuses since it began investigating the company in 2019, and many observers expected the department to file suit over that issue last year. Instead, when the department sued Google in October, it zeroed in on the online search market.

An antitrust probe into Apple is also proceeding, but DOJ prosecutors who attended every day of game developer Epic Games antitrust trial against the iPhone maker in May are waiting on Judge Yvonne Gonzalez Rogers. Her ruling in the Epic case is expected any day now and may affect both whether and where DOJ decides to sue.

SECTION 230 BILLS SPROUTING ON THE HILL Lawmakers have introduced more than 20 bills to revamp or repeal the online legal shield that protects internet platforms from liability for what their users post. Our Julia Arciga breaks them down for Pros this morning:

Lawmakers on both sides of the aisle are pushing for changes to Section 230 of the Communications Decency Act of 1996, dissatisfied with how major tech platforms have approached their content moderation policies albeit for different reasons. Democrats are worried that platforms have used Section 230 to avoid accountability for the spread of misinformation and other dangerous content, while Republicans say those same platforms use it to discriminate against conservatives.

That disagreement could make a meaningful overhaul of the law challenging. There isnt a ton of momentum around any particular idea for changing Section 230. I dont really see a coalescing around any philosophical or legal approach to reform, said Emma Llans, director of the Free Expression Project at the Center for Democracy & Technology, a think tank that promotes democratic values in technology.

No way: GOP lawmakers are more likely to propose revoking Section 230 entirely an idea championed by former President Donald Trump, but one that will largely remain little more than political grandstanding as Democrats remain in control.

Long shot: One strategy that has worked in the past is crafting legislation that creates exceptions to Section 230. Tech policy watchers think H.R. 3184 (117), led by Rep. Yvette Clarke (D-N.Y.), could become law. That bill would hold platforms liable for civil rights violations in targeted advertising.

Potentially promising: An approach with bipartisan appeal is tying Section 230 protections to platforms conduct. This would require the platforms to take certain actions, such as publishing transparency reports or clearly defining content moderation policies for the public, in order to retain their legal protections.

TECH TENSIONS WITH TEXAS Texas is facing criticism from some tech companies over its restrictive abortion law, which went into effect last week after the Supreme Court declined to intervene in a court challenge. And in another move that will irk Silicon Valley, Texas Gov. Greg Abbott is expected to sign a social media bill soon, after it landed on his desk Friday.

Feeling deja vu: The Texas state legislature approved a measure late last week aimed at curbing perceived anti-conservative discrimination. (A similar law in Florida was temporarily blocked by a federal judge citing concerns over potential First Amendment violations; that ruling is under appeal.)

The Texas social media bill would require platforms with at least 50 million active monthly U.S. users to publicly release information about their content moderation practices and results, as well as put in place an appeals process for moderation decisions. It also would allow Texas users to sue the platforms over alleged censorship.

Critics of the bill including prominent tech industry coalitions like the Chamber of Progress, as well as NetChoice and the Computer and Communications Industry Association, which co-led the challenge to the Florida law say online platforms should have the right to enforce their own moderation policies and take down content they find objectionable.

Abortion blowback: Meanwhile, a number of tech companies have spoken out against Texas new ban on abortions at around six weeks, when human embryos first show detectable signs of cardiac activity. The law also criminalizes helping to facilitate an illegal abortion, which has raised concerns at Uber and Lyft that the law could affect drivers who take a passenger to get the procedure done. In response, the chief executives of the two major ridesharing services have said their companies will help cover drivers legal fees. Bumble, a dating app with headquarters in Texas, said it would create a relief fund to support reproductive rights for those seeking abortions in light of the law, and Shar Dubey, CEO of Texas-headquartered Match Group, which owns dating apps like Tinder, said in an internal memo that she would set up a fund for employees and their dependents impacted by the law to seek out-of-state care.

John Branscome, a longtime expert on telecommunications policy, is leaving his post as a majority staff director for the Senate Commerce Committee, the panel told MT. He has been a past contender for a Democratic commissioner role on the FCC. Dominic Cussatt is now the CIO and head of technology innovation for the Bureau of Intelligence and Research at the State Department. He was previously acting CIO at the Department of Veterans Affairs. Jessica Cole is now interim CEO of U.S. Digital Response, and Tina Walha will join as director of public digital. Founding CEO Raylene Yung will join the Biden administration, working on tech modernization at the General Services Administration.

Matt Gerst is now VP for legal and policy affairs and associate general counsel at the Internet Association. He previously was VP of regulatory affairs at CTIA. Troy Clair is now director of public engagement at Instacart. He previously was head of strategic public policy partnerships and senior policy manager at Amazon, and is a Hill alum. Grace Diana is now a senior manager of federal government relations at Samsung. She most recently was executive director of the National Science and Technology Council and is a Biden and Trump White House alum.

Meghan Pearce has been promoted to federal policy manager at TechNet. Mina Hsiang is now the administrator of the United States Digital Service, becoming the first woman and first Asian American to lead the agency. Jaime Teevan has been promoted to CVP at Microsoft. She is the chief scientist for the company's experiences and devices division.

Sana Sheikh has been promoted to VP of transformation, deputy general counsel and VP of strategic affairs at Granite Telecommunications. Accounting Seed announced three new hires: former Salesforce director of technical consulting Ryan Sieve as CTO; former AOL analyst Brian Wai as VP of finance and accounting; and former Oracle manager Barry Thompson as partner relationship manager.

J. Alex Dalessio is now principal for the worldwide public sector innovation studio at Amazon Web Services. He previously was senior adviser at the office of the federal CIO and director of strategic initiatives and technology adviser for the White House Council on Environmental Quality. Josh Divine is now chief counsel to Sen. Josh Hawley (R-Mo.). He most recently was a law clerk to Justice Clarence Thomas.

Something for everyone: The Strange Tale of the Freedom Phone, a Smartphone for Conservatives. More from NYT.

Stepping in: Google locks Afghan government accounts as Taliban seek emails, via Reuters.

ICYMI: Theres a new Democratic majority at the National Labor Relations Board. That could mean a dramatic shift in power from employers to workers, POLITICOs Eleanor Mueller reports.

Pretty please: A Texas city hopes to entice Samsung into building a $17 billion chip plant there with large property tax breaks, Reuters reports.

ICYMI: Apple announced Friday it would pause its rollout of new child safety features amid scrutiny from privacy advocates, John reported for Pros. The Electronic Frontier Foundation said the company should drop the planned features altogether.

Tips, comments, suggestions? Send them along via email to our team: Bob King ([emailprotected]), Heidi Vogt ([emailprotected]), John Hendel ([emailprotected]), Alexandra S. Levine ([emailprotected]), Leah Nylen ([emailprotected]), Emily Birnbaum ([emailprotected]), and Benjamin Din ([emailprotected]). Got an event for our calendar? Send details to [emailprotected]. And don't forget: Add @MorningTech and @PoliticoPro on Twitter.

SEE YOU TOMORROW!

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Tech giants are rushing to develop their own chips heres why – CNBC

Posted: at 5:33 am

Google CEO Sundar Pichai talks about the company's third-generation artificial intelligence chips.

Source: YouTube screenshot

Not content with relying on standard chips that are in high demand, some of the world's biggest tech firms are developing their own semiconductors.

Apple, Amazon, Facebook, Tesla and Baidu are all shunning established chip firms and bringing certain aspects of chip development in-house, according to company announcements and media reports.

"Increasingly, these companies want custom-made chips fitting their applications' specific requirements rather than use the same generic chips as their competitors," Syed Alam, global semiconductor lead at Accenture, told CNBC.

"This gives them more control over the integration of software and hardware while differentiating them from their competition," Alam added.

Russ Shaw, a former non-executive director at U.K.-based Dialog Semiconductor, told CNBC that custom-designed chips can perform better and work out cheaper.

"These specifically designed chips can help to reduce energy consumption for devices and products from the specific tech company, whether it relates to smartphones or cloud services," Shaw said.

The ongoing global chip shortage is another reason why big tech firms are thinking twice about where they get their chips from, Glenn O'Donnell, research director at analyst firm Forrester, told CNBC. "The pandemic threw a big wrench in these supply chains, which accelerated efforts to do their own chips."

"Many already felt limited in their innovation pace being locked into chipmaker timelines," O'Donnell said.

At present, barely a month goes by without a Big Tech company announcing a new chip project.

Perhaps the most notable example came in November 2020 when Apple announced it was moving away from Intel's x86 architecture to make its own M1 processor, which now sits in its new iMacs and iPads.

More recently, Tesla announced that it is building a "Dojo" chip to train artificial intelligence networks in data centers. The automaker in 2019 started producing cars with its custom AI chips that help on-board software make decisions in response to what's happening on the road.

Baidu last month launched an AI chip that's designed to help devices process huge amounts of data and boost computing power. Baidu said the "Kunlun 2" chip can be used in areas such as autonomous driving and that it has entered mass production.

Some of the tech giants have chosen to keep certain semiconductor projects under wraps.

Google is reportedly edging closer to rolling out its own central processing units, or CPUs, for its Chromebook laptops. The search giant plans to use its CPUs in Chromebooks and tablets that run on the company's Chrome operating system from around 2023, according to a report from Nikkei Asia on Sep. 1. Google did not immediately respond to a CNBC request for comment.

Amazon, which operates the world's largest cloud service, is developing its own networking chip to power hardware switches that move data around networks. If it works, it would reduce Amazon's reliance on Broadcom. Amazon, which already designs a number of other chips, did not immediately respond to a CNBC request for comment.

Facebook's chief AI scientist told Bloomberg in 2019 that the company is working on a new class of semiconductor that would work "very differently" than most of the existing designs. Facebook did not immediately respond to a CNBC request for comment.

At this stage, none of the tech giants are looking to do all the chip development themselves.

"It is all about the design and performance of the chip," Shaw said. "At this stage, it is not about the manufacturing and foundries, which is very costly."

Setting up an advanced chip factory, or foundry, like TSMC's in Taiwan, costs around $10 billion and takes several years.

"Even Google and Apple are reticent to build these," O'Donnell said. "They'll go to TSMC or even Intel to build their chips."

O'Donnell said there's a shortage of people in Silicon Valley with the skills required to design high end-processors. "Silicon Valley put so much emphasis on software over the past few decades that hardware engineering was seen as a bit of an anachronism," he said.

"It became 'uncool' to do hardware," O'Donnell said. "Despite its name, Silicon Valley now employs relatively few real silicon engineers."

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Google’s Upcoming St. John’s Terminal Office Progresses Further With Exterior Work, In Hudson Square – New York YIMBY

Posted: at 5:33 am

More exterior progress on Googles 1.3 million-square-foot office at 550 Washington Street has been made in Hudson Square. Designed byCOOKFOX Architectsand developed byOxford Properties, the topped-out building is the central component of the Googleplex that willencompass a total of 1.7 million square feet across three separate structures with the other two sites being 315 Hudson Streetand345 Hudson Street.Turner Construction is responsible for constructing the 12-story steel-framed edifice that spans two full city blocks between West Street, West Houston Street, Washington Street, and the New York Department of Sanitation building.

550 Washington Street. Photo by Michael Young

550 Washington Street. Photo by Michael Young

550 Washington Street. Photo by Michael Young

550 Washington Street. Photo by Michael Young

550 Washington Street. Photo by Michael Young

Since our last update back in early March, the top floors of the structure have been enclosed in floor-to-ceiling glass and metal panels that wrap around all four sides of the massive rectangular office complex. Also seen are the industrial-style windows that line the podium of the western elevation.

550 Washington Street. Photo by Michael Young

550 Washington Street. Photo by Michael Young

550 Washington Street. Photo by Michael Young

550 Washington Street. Photo by Michael Young

550 Washington Street. Photo by Michael Young

The glass frontage for the whole ground floor is one of the last major external components currently being worked on, which largely sit behind fencing and wooden boards up against the sidewalks. Looking from above at the eastern side gives us an idea of how the first level is shaping up.

550 Washington Street. Photo by Michael Young

Solar shading louvers are only found on the shorter southern wall above the podium.

550 Washington Street. Photo by Michael Young

550 Washington Street. Photo by Michael Young

550 Washington Street. Photo by Michael Young

The northern profile of 550 Washington Street is steadily taking shape, particularly the lower half that will feature a hollow steel-framed canopy made of multiple girders at the top of the terminals original roof line. Abundant landscaping on almost every level and around the main entrance, the top of the canopy, and sidewalks will also populate this side of the superstructure. This is best depicted in the rendering below.

550 Washington Street. Photo by Michael Young

Rendering of 550 Washington Street by COOKFOX Architects)

Future occupants will have access to a number of outdoor landscaped terraces, large expansive rooftop areas that overlook the Hudson River and the Lower Manhattan and Midtown skylines, and amenities that have yet to be announced.

YIMBY last reported that 550 Washington Street is expected to be completed sometime next year.

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Google introduces new checks to tackle scam financial ads from today – but there are major exclusions – MoneySavingExpert

Posted: at 5:33 am

All financial services providers wishing to advertise on Google from today must show they are authorised by the FCA. In reality, this means they now need to provide information to Google that includes:

If a provider has not completed Google's standard verification process prior to today, they also need to do so. This includes providing Google with identity documents such as:

If you are an FCA-authorised individual or representative, as opposed to a business, you need to provide proof of identity by showing a driver's license, EU national ID, EU or UK passport, or a UK residence card.

It is only after completing both of these steps that financial providers will now be allowed to show ads on Google. This verification will be needed for all forms of advertising, includingsearch, shopping and display.

Both third parties and non-financial services advertisers also still need to provide details to Google to verify their identity.

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SpaceX Tourists’ Mission Simulation Included Life-Threatening Situation – Futurism

Posted: at 5:33 am

"There is like a chance that this might not be actually a survivable situation."Space Training

Next week, SpaceX is about to make historyby sending the first all-civilian crew into Earths orbit for a three day joyride.

But while the crew of four didnt have to go through years of NASA astronaut training, they were still put through the ringer ahead of their journey into space. As Axios reports, that included a grueling 30-hour simulation that mimicked a near-disaster a sign that the team left no stones unturned in the exhaustive preparation process.

The last 45 minutes, there was awareness from us in the capsule and them on the ground There is like a chance that this might not be actually a survivable situation, mission lead and billionaire funder of the expedition Jared Isaacman told the site.

The simulation took place inside a full-scale Dragon spacecraft mockup at SpaceX HQ in Hawthorne, California, according to Axios.

During their stint inside the simulator, the crew had to endure launch delays caused by weather and eat the foods theyll consume while orbiting the Earth.

Most harrowingly, the 30-hour simulation almost ended in simulated disaster.

But thanks to their training, the crew managed to get back down to the simulated surface below in one piece.

Other than experiencing the shock of almost dying inside a simulation of their upcoming journey, the rest of their trip sounds a bit like a long-haul flight.

The team is planning on eating cold pizza alongside other fresh foods during their first day, according to Axios. During training, they were even able to pick their choice of movies to watch if they get bored of watching the Earth rotate below out of the spacecrafts 360-degree glass cupola.

Given the circumstances, though, wed suggest staying away from Gravity.

READ MORE: What it takes to train for space [Axios]

More on the trip: SpaceX Rocket for First All-Tourist Spaceflight Rolls to Launchpad

Futurism Readers: Find out how much you could save by switching to solar power at UnderstandSolar.com. By signing up through this link, Futurism.com may receive a small commission.

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Bitcoin could collapse and isn’t ‘a good safeguard of value,’ warn global central bankers – MarketWatch

Posted: at 5:32 am

Its a historic week for bitcoin, but that hasnt stopped global central bankers from issuing a round of warnings about the utility and inherent volatility of crypto assets.

RiksbankGov. Stefan Ingves said that doubts remain about the staying power of bitcoin BTCUSD, -0.19%, the worlds most prominent digital asset, if it isnt government backed.

Private money usually collapses sooner or later, Ingves said at a banking conference in Stockholm recently.

The central banker said that regulatory scrutiny on crypto, including bitcoin and Ether ETHUSD, -1.02% trading on the Ethereum blockchain, will likely increase as the popularity of digital assets grows.

Meanwhile, Bank of Mexico Gov. Alejandro Diaz de Leon on Thursday separately said that bitcoin is a tool for barter rather than legal tender and described it as a poor store of value, citing its wild price swings.

Whoever receives bitcoin in exchange for a good or service, we believe that is more akin to bartering because that person is exchanging a good for a good, but not really money for a good, Reuters quoted Diaz de Leon as saying.

People will not want their purchasing power, their salary to go up or down 10% from one day to another. You dont want that volatility for purchasing power. In that sense, it is not a good safeguard of value, the Mexican central banker said.

His comments come after bitcoin formally became legal tender in El Salvador, which has been viewed by many enthusiasts as a watershed moment for crypto.

Read: El Salvadors bitcoin experiment splits crypto community amid major price decline

Check out: Bitcoin Day in El Salvador ushers in the promise and peril of crypto

However, that moment failed to dull the choppy trade that has come to be associated with bitcoin and its ilk.

Bitcoin hit a near-term peak of $53,000 on Monday but preceded to tumble to an intrasession nadir on Tuesday at around $43,000, according to CoinDesk.

Diaz de Leonsaid that Mexico wouldnt be seeking to adopt crypto similar to El Salvador, given what he described as its flaws.

On Thursday, bitcoin was changing hands at $46,696.80 on CoinDesk, up 0.9% but well off its recent peak, while Ether was trading at $3,471.13, down 1.1%.

Stocks were also trading under pressure, with the Dow Jones Industrial Average DJIA, -0.43%, the S&P 500 SPX, -0.46% and the Nasdaq Composite indexes COMP, -0.25% all ending lower.

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Here’s a safer way to invest in bitcoin and blockchain technology – MarketWatch

Posted: at 5:32 am

Bitcoin and other cryptocurrencies can be among the most volatile securities trading today.

A safer way to invest in cryptos and blockchain-technology companies is through exchange traded funds.

The Amplify Transformational Data Sharing ETF BLOK is, by far, the largest ETF focused on cryptocurrencies and companies that use or develop blockchain technology. It has $1.3 billion in assets and is actively managed. The second-biggest ETF in the space is the Siren Nasdaq NexGen Economy ETF BLCN, which is passively managed it follows an index and has $291 million in assets. Both ETFs were established on Jan. 17, 2018. Theres more about each of them below.

Before digging into the blockchain ETFs, consider the risks of bitcoin and other digital currencies beyond volatility. For example, if you hold bitcoin in a digital wallet, make sure you dont lose your password. One investor lost access to an account with 7,002 bitcoin in 2012, according to Yahoo Finance. That equates to more than $327 million, based on bitcoins BTCUSD, -0.19% settled price of $46,777 on Sept. 7.

There have also been difficulties for people who wish to trade cryptocurrencies on days of high volatility and reports of hacked accounts and poor customer service at Coinbase Global Inc. COIN, -0.69%, with customers unable to recover lost bitcoin.

Coinbase has said only 0.01% of its customers have been affected by account takeovers, and analysts covering Coinbases stock are believers in the company. Among 24 analysts polled by FactSet, 16 rate the stock a buy or the equivalent. On Sept. 7, Needham analyst John Todaro initiated his coverage of Coinbase with a buy rating and wrote that the company has done a good job of offering new assets and new products in a regulatory compliant manner, and is well on its way to becoming a one-stop shop for crypto financial services.

Heres how the Amplify Transformational Data Sharing ETF BLOK, +0.83% and the Siren Nasdaq NexGen Economy ETF BLCN, +0.13% have performed since they were established, against the price of bitcoin itself, in U.S. dollars:

Bitcoin has had the best performance on the chart, rising 322% since Jan. 17, 2018, with BLOK next, returning 159%, followed by BLCN, at 104%. Of course, we cannot predict the direction of bitcoin or other digital currencies, but the chart shows how much more volatile bitcoin has been than these ETFs.

To further illustrate the volatility, check out this chart showing performance of the ETFs first two years:

Starting from Jan. 17, 2018, bitcoin was down as much as 71% through Dec. 14, 2018. For the complete two-year period, it was down 18%. Meanwhile, BLCN returned a positive 14% and BLOK was up 1%. The ETFs have been less volatile.

Once again, here are total return comparisons for the two ETFs, bitcoin and, for reference, the SPDR S&P 500 ETF Trust SPY, -0.43% and the Invesco QQQ Trust QQQ, -0.34%, which tracks the Nasdaq-100 Index NDX, -0.38%, for various periods:

BLOK is rated four stars (out of five) by Morningstar, while BLCN has a three-star rating. Since it was established, BLOK has more than doubled the return of SPY, and has outperformed QQQ handily.

Going back to the second chart, above, which emphasizes bitcoins plunge in 2018, you can see that BLCN fared better than BLOK through that decline and for that two-year period.

It may be good to consider how likely you would have been to wait out that difficult period while holding bitcoin. A broader investment in blockchain technology, with exposure to cryptocurrencies, may fit your risk tolerance better, while still giving exposure to this technological phenomenon.

During an interview, Amplify CEO Christian Magoon said he had decided to take an active approach with BLOK because of added flexibility.

A passive approach to forming an index of companies exposed to blockchain might make use of algorithms for keyword searches in company filings for blockchain and related words, as a way to identify companies making use of the technology. But Magoon said BLOKs subadviser, Toroso Investments, will take extra steps to verify the actual blockchain-related activities of the companies we invest in.

That can be important in a relatively new space with plenty of buzzwords. You might recall the story of Long Island Iced Tea Corp., which said in December 2017 that it would change its focus to investing in blockchain technology, while adopting the name Long Blockchain. That didnt turn out so well.

BLOK typically holds about 45 stocks. Here are its 10 largest positions:

Click on the tickers for more about each company. Heres a new guide to all the information available on the MarketWatch quote pages, which can start you off on your own research.

It might be a surprise to see PayPal Holdings Inc. PYPL, +0.58% and Square Inc. SQSP, +1.69% in the portfolio, but both provide services allowing customers to buy and sell bitcoin.

Magoon emphasized that the diversification of BLOKs portfolio lowered risk, but acknowledged that the ETFs performance is still closely correlated with bitcoin.

Early this year, the Securities and Exchange Commission gave permission for BLOK to hold shares of the Grayscale Bitcoin Trust GBTC, -0.19%, which has a market capitalization of $6.6 billion. It has been a popular way for investors and traders to play bitcoin indirectly. But it has its own risks, as its share price at times can rise to a very high premium over the trusts net asset value (the value of its investments at the end of the trading day divided by the number of shares). This means GBTC has an extra layer of volatility on top of bitcoins price.

According to Magoon, GBTC has traded at a premium as high as 70% over NAV, although recently it has traded below the NAV.

This extra volatility led BLOK to completely sell out of its GBTC position, Magoon said. It now holds shares of Canadian exchange traded funds that invest in bitcoin. Magoon says those tend to trade close to NAV. An example of a Canadian bitcoin ETF held by block is the Purpose Bitcoin ETF BTCC, +0.31%.

BCLN tends to have more holdings than BLOK 69 stocks at the end of the second quarter. It is also less concentrated. BLOKs 10 largest holdings make up 45% of the portfolio. For BLCN, the 10 largest account for 21%.

Here are the 10 largest holdings of BCLN:

Dont miss: Wall Street sees as much as 56% upside for its 20 favorite stocks

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Ukraine is the latest country to legalize bitcoin as the cryptocurrency slowly goes global – CNBC

Posted: at 5:32 am

Ukraine is the fifth country in as many weeks to lay down some ground rules for the cryptocurrency market, a sign that governments around the world are realizing that bitcoin is here to stay.

In a nearly unanimous vote, the Ukrainian Parliament adopted a law that legalizes and regulates cryptocurrency. The bill was set in motion in 2020 and heads to the desk of President Volodymyr Zelenskyy.

Until today, crypto in Ukraine has existed in a legal gray area.

Locals were allowed to buy and exchange virtual currencies, but companies and exchanges dealing in crypto were often under close watch by law enforcement.

According to the Kyiv Post, authorities have trended toward taking a combative stance when it comes to virtual cash, regarding it as a "scam," raiding crypto-related businesses, and "often confiscating expensive equipment without any grounds."

In August, for example, the Security Service of Ukraine (SBU) blocked a network of what it called "clandestine cryptocurrency exchanges" running in the capital city Kyiv. The SBU claimed these exchanges were facilitating money laundering and providing anonymity of transactions.

The new legislation also spells out certain protections against fraud for those who own bitcoin and other cryptocurrencies, and in a first for Ukraine's Verkhovna Rada unicameral parliament, lawmakers have taken a stab at defining core terminology in the world of crypto. If signed by the president, virtual assets, digital wallets and private keys are terms that will be enshrined in Ukrainian law.

Unlike El Salvador's move to adopt bitcoin as legal tender, Ukraine's crypto law does not facilitate the rollout of bitcoin as a form of payment and does not put it on an equal footing with the hryvnia, the country's national currency.

However, Thursday's vote by the former nuclear power is part of a wider push by Kyiv to lean into bitcoin.

By 2022, the country plans to open the cryptocurrency market to businesses and investors, according to the Kyiv Post. Top state officials have also been touting their crypto street cred to investors and venture capital funds in Silicon Valley.

On an official state visit to the U.S. last month, Zelenskyy spoke of Ukraine's budding "legal innovative market for virtual assets" as a selling point for investment, and Minister of Digital Transformation Mykhailo Fedorov said the country was modernizing its payment market so that its National Bank would be able to to issue digital currency.

But to bitcoin backers like Jeremy Rubin, Ukraine's new law and political promises such as these don't amount to much.

"Ukraine's improved legal status for bitcoin is a laudable symbolic measure that we progress towards a world that respects individual rights universally," said Rubin, CEO of bitcoin R&D lab Judica. "But it is only symbolic bitcoin seeks neither permission nor forgiveness in its mission to protect persecuted communities from unjust governments."

Ukraine joins a long list of countries folding bitcoin into national law.

Just this week, El Salvador became the first country to both adopt bitcoin as legal tender and hold it on its balance sheet. President Nayib Bukele has essentially tethered his political fate to the outcome of this nationwide bitcoin experiment.

Two weeks ago, Cuba a notoriously rigid government still set in traditional Marxist ways passed a law to recognize and regulate cryptocurrencies, citing "reasons of socioeconomic interest."

Last month, the U.S. proposed rules around crypto "brokers" in its $1 trillion infrastructure bill, and a new German law now allows funds previously barred from investing in crypto to allocate up to 20% to virtual currencies like bitcoin.

Panama appears to be next on deck. The Central American country is kicking around a draft of its own cryptocurrency law.

This list is hardly comprehensive it just appears to be the latest pattern of dominos to fall, as more governments acknowledge the staying power of cryptocurrencies like bitcoin.

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Ukraine is the latest country to legalize bitcoin as the cryptocurrency slowly goes global - CNBC

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Why government adoption of Bitcoin is a big win for crypto – Yahoo Finance

Posted: at 5:32 am

Co-Founder & COO at CoinGecko Bobby Ong joins Yahoo Finance to break down the factors contributing to Bitcoin's sudden dive and the global push of governments to use Bitcoin as Ukraine becomes the latest country to legalize and regulate the cryptocurrency.

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- Bitcoin prices have steadied a little after getting rowdy earlier in the week, following the crypto's rollout in El Salvador. But given some fresh negative sentiment in the crypto space, that steadiness may prove fleeting. Let's dive in here with Bobby Ong.

He's the co-founder and COO of CoinGecko. Bobby, good to good to see you here. Look, so the price action has steadied.

That's good for crypto fans. What do you sense could be next? Is there another shoe to drop in terms of prices here?

BOBBY ONG: It's always very hard to predict what's coming next in the crypto price. But I mean, a couple of days ago, Bitcoin dropped 17% from roughly $52,000 to $42,000. It's recovered a little bit since then. This came on the back of El Salvador adopting Bitcoin as legal tender.

There was some technical challenges with regards to its rollout. But this really wasn't the main reason for a correction. The crypto market has been on a rise since late July with Bitcoin going up 70% from its 30k levels.

And many traders were looking for a point to take profits. And large sell orders resulted in the [INAUDIBLE] market, futures market liquidating overleveraged traders causing a flash crash. I'd even look at the funding rates for Bitcoin [INAUDIBLE] Bitcoin futures. Yes, it turned positive in the days leading up to the correction, signifying that traders have become overleveraged and have largely gained back the confidence loss in the large draw down in May when Bitcoin went from 64K to [INAUDIBLE] in a matter of weeks.

The funding rates at this point in time is still slightly negative. So it doesn't seem that the traders are very bullish yet. So I think my guess is it's a [INAUDIBLE] more. We don't know if it's going to go up or down at this point in time. I would say that a market correction was [INAUDIBLE] very common in crypto to have like 20% drawdowns. And that's taken place multiple times in the history of Bitcoin.

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- Bobby, we had a guest on yesterday pushback back on this notion that there's a lot of leverage in the crypto space. What's your take on that?

BOBBY ONG: Yeah, I would agree with that. There is a lot of leverage in the crypto space. Though, this has gone down over the years, I would say. So you have offshore crypto exchanges offering up to 100x leverage for you to trade on the futures market.

So this is very common with bitmex, with FTX, with binance futures, and so on. But recently, I think regulators have cracked down massively on all this offshore crypto exchanges. So the leverage levels have dropped.

Binance and FTX have both announced that they are reducing the leverage offered to crypto traders. But there are other alternatives out there in the market, like exchanges such as [INAUDIBLE] that users can sort of gravitate to trade with high leverage. So there is a lot of leverage using the market. And the funding rates are usually one of the methods we use to track how much leverage there is in the market.

- Bobby, it's Julie here. When we're looking at this adoption that's happening around the globe, places like El Salvador, Ukraine now formally putting some regulation around the trading of Bitcoin and allowing it, which it didn't before, do you see that more as a risk or a potential upside for crypto when you're looking at government intervention of various kinds?

BOBBY ONG: Oh, I certainly view this positively. Ukraine and El Salvador adopting Bitcoin as a legal tender is definitely a big win for crypto. Ukraine adopting Bitcoin is also a big news.

I think governments worldwide are starting to see that Bitcoin and blockchain technology, they're not here to disappear. They won't disappear anymore. They're here to stay.

You can't put a genie back into the bottle once it's out. And countries are starting to realize that. If you can't ignore it, it's probably best to try to put in place favorable regulations to encourage investment in this sector and to tax this growth areas appropriately.

What I would say is I think-- I would expect a lot more countries to legalize cryptocurrencies. Most will not take the extreme steps like El Salvador to make it legal tender. El Salvador I think is a unique case because the economy is a dollarized economy in the first place.

So they don't really have much to lose in the sense. They are effectively making a bet that things may pan out well by stopping one foreign currency, which in their case was US dollar, to another foreign currency, in this case Bitcoin. Things may or may not work out.

In which case, if things do not work out, they can always move back to the US dollar. And if things do work out, then it could be a very interesting case study. And I'm sure a lot of their neighbors are watching the economic experiment that is happening in El Salvador.

- Yes, I'm sure that they are. Speaking of economic experiments, what's been catching my eye recently is the huge market cap increases in some of the once obscure coins. And it's happening really quickly. I'm looking at our list of cryptocurrencies on our site.

And yes, you have Bitcoin and Ethereum up there. Cardano is now one of the biggest coins. You've got Solana on there as well, which came out of nowhere as well.

Hex coin, whatever that is, although that's a smaller market cap, is on there as well. But some of the ones that have really gained in size and coming from nowhere, I mean, how much do people need to be aware of those? And how much do people need to be careful of those?

BOBBY ONG: So yeah, I mean, among the list that you mentioned, maybe not everyone, not all these coins are legit. I mean, there's a lot of scam tokens out there in the market. But I think what's interesting is a lot of these tokens, the coins, they have crafted a niche in the space. No doubt many are created just for speculation.

But some of them have interesting use cases. So Bitcoin gone on this stall value narrative. So it becomes a coin because it's a fixed supply. It become supposedly perilous as-- it draws parallels to digital gold.

Ethereum goes around the narrative of it being decentralized world computer. And because Ethereum has pretty fixed capacity on this network, resulting in high gas fees, this has spurred the growth of other competitors. And one of the other competitors would be Solana.

But the main reason-- the main thing's driving the growth of Ethereum would be things like decentralized finance applications, things that are building exchanges in a decentralized manner and all the lending platforms in a decentralized manner, and so on. Also, NFTs are a big driver for picking up the block space in ethereum.

So if you look at Solana, because ethereum's full in gas fees, and the transaction fees are really high and really expensive on ethereum, a lot of people have moved on to other alternative blockchains like Solana. Solana has grown 10x in a matter of months from $20 to up to $200.

And I think there's a lot of growth. I mean, if you look at the amount of money locked in the smart contracts on Ethereum, on Solana, on Polygon, and so on, we have seen like more than eight times growth in the total value locked. So early in January 2021, like $20 billion worth of cryptocurrencies or tokens of value are locked in contracts.

But now it's over $170 billion in total value locked-- in terms of amount of cryptocurrencies locked in the smart contracts. So I think there's a lot of strong growth. I view the world that all these financial applications that are built in the traditional manner will be migrated over to the blockchain to be placed in decentralized finance applications.

And on a broader level, I view the world that a lot of these web two applications, things that have a centralized manner will be moving on to the web free applications, things that are built on the blockchain in the coming years.

- I really appreciate these insights. Bobby Ong, Co-founder and CEO of CoinGecko. Have a great rest of the week.

BOBBY ONG: Thank you. You, too.

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Why government adoption of Bitcoin is a big win for crypto - Yahoo Finance

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