Another Cryptocurrency Makes Inroads in Venezuela
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Bitcoin Magazine, 1/1/0001 12:00 AM PST Dash is establishing itself as one of Venezuela's most popular cryptocurrencies. Bitcoin may still be king on the international scene, but in South America’s northernmost country, dash is vying for superiority. And, according to Latin American exchange Cryptobuyer, it has all but usurped bitcoin in the region. “Cryptobuyer was the first platform in Latin America to integrate Dash in early 2017, as well as the first to offer it in Venezuela. Every month, we see how Bitcoin and Dash fight for the top volume in our operations, but as for the largest number of transactions, Dash is winning at this time,” said CEO Jorge Farias in a statement. In an interview with Bitcoin Magazine, Dash Public Outreach Director Joël Valenzuela clarified that “Cryptobuyer has Venezuelan bolivar trading pairs and has user accounts, so they can easily track usage out of the country.” Dash’s transaction traffic on Cryptobuyer isn’t limited to market speculation. On the contrary, dash has experienced extensive adoption by Venezuelan vendors and merchants. Some 522 domestic store owners accept dash in the country, Joël Valenzuela told Bitcoin Magazine. A Discover Dash website acts as a directory to many of these stores. “The Dash-accepting merchants in Venezuela do so openly and proudly, displaying ‘Dash accepted here’ stickers on their business doors and registers,” said Valenzuela. Given cryptocurrency’s increasing popularity as an alternative to a crippled national currency in the bolivar, it may come as a surprise to hear that merchants advertise their acceptance of dash while under the eye of what could be considered a dictatorial regime. But Valenzuela claimed, contrary to popular belief, that cryptocurrency use is quite open in the country and has only expanded with the advent of the petro, Venezuela's national cryptocurrency. “It appears to be a misconception that the Venezuelan government is anti-crypto. The country is in the midst of a severe economic crisis, and a way out is a way out. Additionally, local crypto advocates have expressed that the creation of the state-backed Petro has been good for adoption and awareness of other cryptocurrencies,” he stated. Still, different perspectives tell different stories. In a separate interview with Bitcoin Magazine, a Venezuelan under the alias Héctor indicated that “[c]ryptocurrencies — and any other currency but bolivars — are banned for all citizens” and so are popularly used on the black market for food and basic necessities. Héctor’s struggle seems ubiquitous in the country, and it reflects the vast and expanding use of crypto in the bolivar’s stead, a national currency that has plummeted in value amidst ever-worsening hyperinflation. Valenzuela acknowledged the substitutive role that cryptocurrencies play as private money in such an anemic economy. They’ve been in use for a number of years, but dash’s accelerated adoption “can be traced back to the founding of Dash Caracas and the first Dash conference around September of 2017,” Valenzuela claims. Since that conference last year, Dash Venezuela has increased its presence in the area, expanding its outreach by “holding monthly conferences, educating users and onboarding merchants at a breakneck pace,” Valenzuela said. Dash is a payment-focused cryptocurrency that is currently ranked 14th on CoinMarketCap with a valuation just shy of $2 billion. Outside of Venezuela, dash’s global merchant base is 1,729 strong. The network is two-tiered, using both proof of work and proof of stake to reach distributed consensus. A primary proof of work layer monitors typical transactions, while masternodes on the second layer rely on validators, those who stake dash to run what are called masternodes, to oversee specific functions like Dash’s InstantSend transactions. This article originally appeared on Bitcoin Magazine. |
Another Cryptocurrency Makes Inroads in Venezuela
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Bitcoin Magazine, 1/1/0001 12:00 AM PST Dash is establishing itself as one of Venezuela's most popular cryptocurrencies. Bitcoin may still be king on the international scene, but in South America’s northernmost country, dash is vying for superiority. And, according to Latin American exchange Cryptobuyer, it has all but usurped bitcoin in the region. “Cryptobuyer was the first platform in Latin America to integrate Dash in early 2017, as well as the first to offer it in Venezuela. Every month, we see how Bitcoin and Dash fight for the top volume in our operations, but as for the largest number of transactions, Dash is winning at this time,” said CEO Jorge Farias in a statement. In an interview with Bitcoin Magazine, Dash Public Outreach Director Joël Valenzuela clarified that “Cryptobuyer has Venezuelan bolivar trading pairs and has user accounts, so they can easily track usage out of the country.” Dash’s transaction traffic on Cryptobuyer isn’t limited to market speculation. On the contrary, dash has experienced extensive adoption by Venezuelan vendors and merchants. Some 522 domestic store owners accept dash in the country, Joël Valenzuela told Bitcoin Magazine. A Discover Dash website acts as a directory to many of these stores. “The Dash-accepting merchants in Venezuela do so openly and proudly, displaying ‘Dash accepted here’ stickers on their business doors and registers,” said Valenzuela. Given cryptocurrency’s increasing popularity as an alternative to a crippled national currency in the bolivar, it may come as a surprise to hear that merchants advertise their acceptance of dash while under the eye of what could be considered a dictatorial regime. But Valenzuela claimed, contrary to popular belief, that cryptocurrency use is quite open in the country and has only expanded with the advent of the petro, Venezuela's national cryptocurrency. “It appears to be a misconception that the Venezuelan government is anti-crypto. The country is in the midst of a severe economic crisis, and a way out is a way out. Additionally, local crypto advocates have expressed that the creation of the state-backed Petro has been good for adoption and awareness of other cryptocurrencies,” he stated. Still, different perspectives tell different stories. In a separate interview with Bitcoin Magazine, a Venezuelan under the alias Héctor indicated that “[c]ryptocurrencies — and any other currency but bolivars — are banned for all citizens” and so are popularly used on the black market for food and basic necessities. Héctor’s struggle seems ubiquitous in the country, and it reflects the vast and expanding use of crypto in the bolivar’s stead, a national currency that has plummeted in value amidst ever-worsening hyperinflation. Valenzuela acknowledged the substitutive role that cryptocurrencies play as private money in such an anemic economy. They’ve been in use for a number of years, but dash’s accelerated adoption “can be traced back to the founding of Dash Caracas and the first Dash conference around September of 2017,” Valenzuela claims. Since that conference last year, Dash Venezuela has increased its presence in the area, expanding its outreach by “holding monthly conferences, educating users and onboarding merchants at a breakneck pace,” Valenzuela said. Dash is a payment-focused cryptocurrency that is currently ranked 14th on CoinMarketCap with a valuation just shy of $2 billion. Outside of Venezuela, dash’s global merchant base is 1,729 strong. The network is two-tiered, using both proof of work and proof of stake to reach distributed consensus. A primary proof of work layer monitors typical transactions, while masternodes on the second layer rely on validators, those who stake dash to run what are called masternodes, to oversee specific functions like Dash’s InstantSend transactions. This article originally appeared on Bitcoin Magazine. |
Crypto Stock Exchange Operator Pleads Guilty to Fraud
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CoinDesk, 1/1/0001 12:00 AM PST Jon Montroll, who ran the now-defunct bitcoin investment platform BitFunder, has plead guilty to securities fraud and obstruction of justice charges. |
Bitcoin Price Set for Major Bullish Breakout: Traders
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CryptoCoins News, 1/1/0001 12:00 AM PST According to sources who are analysing the current situation regarding the bitcoin price consistently, it appears that the cryptocurrency may be in line for a major breakout. An analysis from Telegram groups and recent comments on Discord channels have also appeared to confirm this sentiment. Bitcoin has officially made a higher high on the daily, The post Bitcoin Price Set for Major Bullish Breakout: Traders appeared first on CCN |
Bank of America has hired 2 top bankers to boost its media and telecom business
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Business Insider, 1/1/0001 12:00 AM PST
Bank of America has hired two veteran bankers to its media & telecom business, according to an internal memo viewed by Business Insider. Sam Powers will start in the fall as head of Americas Media & Telecom Investment Banking. He's joining the firm from UBS where he led the Americas TMT group, advising on deals for clients like Viacom and TPG. He will join Randy Russell, who recently came on board the firm as a managing director in the group. Previously, he was head of Americas Media & Telecom at Deutsche Bank and advised clients like Dish and Verizon. "The addition of Sam and Randy to our global Media & Telecom practice reflects the significant momentum we are experiencing in this space as we continue to win key mandates and grow our market share," wrote Jack MacDonald, head of Global TMT Investment Banking, in the memo. "They bring nearly 40 years of combined industry experience and leadership to our practice." The additions to BoA's investment banking business come amid a deal frenzy in the media and telecom space. AT&T is attempting to close out an $85 billion megamerger to acquire Time Warner, and Disney is primed to acquire 21st Century Fox assets for $71 billion. Join the conversation about this story » NOW WATCH: An early investor in Airbnb and Uber explains why he started buying bitcoin in 2009 |
Deutsche Bank battles bad news to bring in 25% more new analysts this year
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Business Insider, 1/1/0001 12:00 AM PST
Deutsche Bank, which has been battling bad news for months, is now in hiring mode. German lender has hired almost 800 new university graduates globally this year, its second highest number ever and 25% more than last year, according to internal figures seen by Business Insider and confirmed by a bank spokesman. The bank held orientation for the class last week. The hiring comes as Deutsche surprised investors last week with news that it plans to report a higher-than-expected profit for the second quarter under new CEO Christian Sewing. Deutsche has seen key traders leave in the last few months amid plans to cut up to 7,000 jobs at the bank by the end of 2019. Roughly 27% of Deutsche's incoming class is made up of bankers, compared to 16% of traders, providing a window into how the bank's strategy is developing. Deutsche's revenue from stock and bond trading is down 15% for the second quarter, compared to big gains from US banks. The bank will welcome 774 graduates this year, compared to 619 last year, according to the figures. In 2016, the bank added 813. This year's class counts 211 in corporate finance, 177 in technology and 128 hires in global markets. Technology hires account for 23% of the class, down from 30% last year. SEE ALSO: Deutsche Bank CEO tells staff he's 'sick and tired' of bad news |
Some Uber passengers are reportedly getting hit with $150 fines after drivers allegedly commit 'vomit fraud'
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Business Insider, 1/1/0001 12:00 AM PST
Some Uber drivers are reportedly charging customers $80 to $150 after falsely reporting that riders vomited inside their vehicles, according to a Miami Herald report. The scam originates out of a mandatory "cleaning fee" that Uber charges customers if they throw-up inside a driver's vehicle. The sham seems simple enough. As detailed by the Miami Herald, the Uber driver sends false photos of the incident to Uber management, who then initiates the fee. Uber's fees vary, as a spilled drink by passengers is $20, while vomiting in or on the car is between $40 and $80. If a passenger causes "significant amounts" of blood, urine, or vomit to affect the interior, a $150 fine is assessed. In a statement sent to Business Insider, an Uber spokesperson said, "Participating in fraudulent activity of any kind is a clear violation of our Community Guidelines. We are constantly evaluating our processes and technology related to these claims and will take appropriate action whenever fraud may be detected." The ride-hailing company could not give Business Insider an exact number of fraud claims, but said that most cleaning fee reports are legitimate and that when Uber does find a confirmed case of fraud, appropriate action is taken which includes the removal of the driver. Uber encourages riders to report any suspected cases of fraud immediately. In a statement sent to el Nuevo Herald, Uber added, "With 15 million trips a day, Uber is unfortunately not immune to these types of incidents." As noted by Uber's guidelines section of their website, vomiting can also lead to a loss of ridership and use of the ap. Uber's help-website says, "Riders are responsible for damage to the interior or exterior of a vehicle caused by incidents such as vomiting or food spills." The Miami Herald reports of incidents where drivers work together to bring fees on a single customer to as high as $300. The report includes incidents of passengers being wrongfully kicked off the app following a false vomit submission sent by the driver. On Twitter, some users expressed frustration with how the company's customer service department is handling complaints of vomit fraud.
Read the Miami Herald's full report.FOLLOW US: on Facebook for more car and transportation content! |
Crypto Really (Really) Wants a Bitcoin ETF
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CoinDesk, 1/1/0001 12:00 AM PST The crypto universe has spoken. They want an SEC-approved bitcoin ETF and they want it now. |
What you need to know on Wall Street today
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Business Insider, 1/1/0001 12:00 AM PST Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox. A $1.9 trillion investor says there are already a bunch of 'canaries in the coal mine' that could send shockwaves through markets Rick Rieder is worried about liquidity. According to the chief investment officer of global fixed income at BlackRock, the retreat of central banks from credit markets could worsen liquidity, or complicate how smoothly other investors are able to do the same. Rieder, who oversees $1.9 trillion in assets, has been voicing this concern for several months as central banks reduced their bond purchases. Back in January, the Bank of Japan said its balance sheet shrank month-on-month for the first time since it started buying government bonds, equity exchange-traded funds, and other assets in late-2012. In June, the European Central Bank said it was set to end the €2.5 trillion ($3 trillion) bond-buying program known as quantitative easing that it initiated after the eurozone debt crisis. The Fed continues to slowly unwind its $4 trillion-plus portfolio of bonds. As central banks work quietly and slowly, more powerful forces are brewing in the foreground, Rieder said in a recent note.
Barclays has raided Credit Suisse yet again in trading Barclays has hired a new electronic equities executive as the bank continues to invest in its fast-growing stock trading business. Kevin O'Connor is joining Barclays equities team as head of electronic equities origination for the Americas, the British lender announced Monday. O'Connor joins from Credit Suisse, where he worked in the global markets division as the US head of sales for Advanced Execution Services — a role in which he oversaw sales, marketing, and distribution strategies for the electronic products in the Americas. The new hire further bolsters Barclays roster as it looks to add market share in its cash equities business. Crypto companies are working with the Big Four to get Wall Street to trust them Bitcoin companies have a branding problem. The nascent market for digital coins is known for its spine-tingling volatility and hacks. That's part of the reason institutional investors don't trust firms across the landscape with their money. But crypto service providers and exchanges are trying to lure in big money by shaking off their scrappy roots and holding themselves to Wall Street standards. To that end, many are partnering with 'Big Four' accounting firms to acquire a so-called SOC2 certification, a way to prove to clients that they have the proper functioning security systems in place to keep funds secure. In markets news |
Bitcoin’s Volume Recovers as Augur Drop 18%, Tokens Take Huge Beating
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CryptoCoins News, 1/1/0001 12:00 AM PST Despite the strong performance of bitcoin over the past 24 hours, tokens have recorded large losses against both bitcoin and the US dollar, dropping by 10 to 20 percent. Bitcoin Volume Recovers But Tokens Struggle On July 22, CCN reported that the volume of bitcoin has dropped by more than 36 percent since July 20, The post Bitcoin’s Volume Recovers as Augur Drop 18%, Tokens Take Huge Beating appeared first on CCN |
The winner of Elon Musk's Hyperloop Pod Competition hits 290 mph
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Business Insider, 1/1/0001 12:00 AM PST
A group of German engineering students won the third SpaceX Hyperloop Pod Competition on Sunday, as their prototype pod shattered speed records and raced through a nearly mile-long tunnel at 290 miles per hour. WARR Hyperloop, from the Technical University of Munich, won first place for the third time in a row and simultaneously set new speed records, topping out at 290 miles per hour. This year's competition was exclusively focused on developing maximum speed pods, with the only requirements being that all pods be self-propelled as they raced to see who could travel the fastest down a 0.8 mile long test track tunnel from a standstill. The annual competition drew 20 entrants from all around the world, and was hosted at SpaceX headquarters in Hawthorne, California. SpaceX CEO Elon Musk attended the event, along with his partner, Grimes, the Canadian pop star. Originally announced in 2015, Musk's annual Hyperloop Competition seeks to cultivate engineering talent while simultaneously developing innovations for a futuristic transportation system. It is the first competition of its kind anywhere in the world. This year, the event had a convivial feel, as The Verge reports an '80s cover band called the Spazmatics played old songs while nearby university students hung out in the sun, enjoying the music and choice of food trucks. Musk himself made an unscheduled appearance with Grimes and his five young sons, chatting with students and engineers alike. "This is really the first opportunity to create a new mode of transport," Musk said, according to The Verge. "That’s really what this competition is about: things that could radically transform cities and the way people get around."
WARR Hyperloop came into the competition with ambitious goals. Last month, in a press release, they announced intentions of having their pod hit 378 mph (600 kph). Their 2018 pod was designed with a smooth, black aerodynamic shape–one smaller than previous models–and used eight small electric motors that produced 240 kW of energy. By hitting 290 mph, they bested the speed record set last year by Virgin Hyperloop One’s pod, which topped out at 240 mph in December. Aside from WARR Hyperloop, other finalists qualifying for the competition were teams from Delft University from the Netherlands and EPF Loop from Switzerland.
SEE ALSO: Elon Musk said rides on the 150 mph Loop transit system could cost $1 FOLLOW US: on Facebook for more car and transportation content! Join the conversation about this story » NOW WATCH: An early investor in Airbnb and Uber explains why he started buying bitcoin in 2009 |
Bitcoin Magazine’s Week in Review: As Markets Rise, so Does Innovation
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Bitcoin Magazine, 1/1/0001 12:00 AM PST Cryptocurrency prices were on the rise this past week and we’ve done some analysis to help you make sense of the movement. Amidst this volatility, we saw Stronghold announce a partnership with IBM to launch a new stablecoin on Stellar’s network that is FDIC insured, a first in the space. As the market matures, blockchain research and development is picking up steam in major universities, driving innovation for the future health of the industry. Speaking of education, congress got serious about understanding this week, holding two full hearings to discuss the technology and how best to understand and make use of it. In some less savory news, cryptomining malware continues to grow as a popular and profitable way for hackers to make use of your computing resources, but we have some help for you. Featured stories by Nadav Avital, Colin Harper, Andrew Rossow and Bitcoin Schmitcoin. Stay on top of the best stories in the bitcoin, blockchain and cryptocurrency industry. Subscribe to our newsletter here. Bitcoin Price Analysis: Head-and-Shoulders Reversal Pushes New Highs Previously, Schmitcoin had discussed the strong possibility for a retest of the low volume spring, noted that the market was beginning the early stages of an inverted head-and-shoulders (H/S) reversal (sometimes called a head-and-shoulders bottom). A couple days ago, shortly after testing the left shoulder of the head-and-shoulders reversal (H/S), the market reacted strongly and bitcoin’s price jumped several hundred dollars. Both the candle spread and volume were quite high over the daily candles that set the stage for this jump. High volume and large spread following a low volume spring hint toward a potential accumulation characteristic called a “Jump Across the Creek” (JAC). In a trading-range sense, the whole purpose of an accumulation trading range (TR) is to shake out all the sellers so that an asset can be pushed to higher price levels. One characteristic to keep an eye out for: JACs often retrace up to 50% of their movement in a TR characteristic called a “Back Up to the Edge of the Creek” (BUEC). This serves to not only test seller interest but also traps sellers to provide liquidity for the next leg up. The BUEC is a great risk-to-reward for those looking to enter long on the rally. Stronghold and IBM Collaborate to Launch FDIC-Insured Stablecoin on Stellar Stronghold, a cryptocurrency trading platform housed by Stellar, is launching a stablecoin on its parent network’s blockchain in collaboration with IBM. Stronghold USD will be backed with “one-to-one U.S. dollars per coin,” according to an official press release, and held in an account with Nevada-based Prime Trust, the same trust company that banks for the stablecoin TrueUSD. The stablecoin is also purportedly protected by FDIC Insurance, and unlike Tether, Stronghold USD is audited, but the identity of the auditing firm has not been revealed. Beyond the Classroom: The Rise of University Blockchain Labs (July cover story) The Massachusetts Institute of Technology (MIT) features the oldest and perhaps best-known university-sponsored blockchain development lab in the world. Since 2015, the MIT Media Lab’s Digital Currency Initiative has brought together some of the space's leading independent developers with MIT faculty to extend the development of such applications as the Lightning Network. A Basic Guide to the Digital Age: Breaking Down Congress’ Crypto Hearing On July 18, 2018, Congress held two full hearings to take a closer look at why and how digital assets, including cryptocurrencies, are impacting U.S. marketplaces. Some might find it odd to see the House Committee on Agriculture represented at a hearing on digital assets and their related technologies. But Chairman Michael Conaway explained that they have a vested interest in shaping and constructing the definition of a security because it directly impacts the definition of a commodity. Working in tandem, both Chairman Conaway and Ranking Member Collin Peterson identified five main goals for clarifying blockchain industry regulation:
At the end of the hearings, Congress seemed to be very receptive to the idea of this new technology, but it is still concerned about ensuring that it is properly regulated where appropriate. Op Ed: Addressing the Threat of Cryptomining Malware The latest fad in hacking these days is cryptomining, which takes the typically unobtrusive activity and allows nefarious actors to hijack your computer and make a lot of money fast. With the sheer number of cryptocurrencies available to mine, it is becoming a popular choice for attackers. The technique essentially involves an attacker taking advantage of another person’s computer and using its CPU power to mine for cryptocurrency. If the malware is configured to consume a large percentage of CPU power, it can prevent the CPU from doing other tasks and effectively deny the user access to the machine and its application. This article originally appeared on Bitcoin Magazine. |
Double Spend Attacks ‘Unrealistic’ on Blockchains with High Hashrate: Bank of Canada Research
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CryptoCoins News, 1/1/0001 12:00 AM PST A newly-published study from the Bank of Canada on incentive-based mining has confirmed what many cryptocurrency supporters have long argued: the risk of double spend attacks is relatively low on high-hashrate networks like Bitcoin and Ethereum, though smaller networks may not be quite so safe. The study, which was conducted by Jonathan Chiu and Thorsten The post Double Spend Attacks ‘Unrealistic’ on Blockchains with High Hashrate: Bank of Canada Research appeared first on CCN |
Barclays has raided Credit Suisse yet again for a senior stock-trading hire as it continues to ramp up its equities business
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Business Insider, 1/1/0001 12:00 AM PST
Barclays has hired a new electronic equities executive as the bank continues to invest in its fast-growing stock trading business. Kevin O’Connor is joining Barclays equities team as head of electronic equities origination for the Americas, the British lender announced Monday. O'Connor joins from Credit Suisse, where he worked in the global markets division as the US head of sales for Advanced Execution Services — a role in which he oversaw sales, marketing, and distribution strategies for the electronic products in the Americas. The new hire further bolsters Barclays roster as it looks to add market share in its cash equities business. “I am confident Kevin’s appointment will help us build on momentum in our cash franchise by accelerating the development of differentiated products and services, and by driving greater client penetration," Nas Al-Khudairi, Barclays' global head of electronic equities and European head of cash equities, said in a statement. Credit Suisse declined to comment. O'Connor is the latest in a hiring spree of high-level executives conducted by Stephen Dainton, who joined in September from Credit Suisse as global head of equities. Barclays has added around 25 managing directors in its markets business since then, with several of those having links to Credit Suisse, a competitor also undergoing a rebuild of its stock-trading franchise. Equities hires and promotions this year include:
While the British bank is still in the early innings of its equities revamp, it's seen early returns on its investments. While many banks had strong equities performance in the first quarter, no bank grew more precipitously than Barclays. The bank saw its equities revenues shoot up 43%, to $827 million, compared with $577 million in the first quarter of 2017, with derivatives and financing leading the way. It was the world's fastest-growing equities business in the first quarter, according to public earnings results. Most American banks reported strong equities performance in the second-quarter earnings results this month, as well. Barclays will report second-quarter earnings August 2. |
Chinese Region to Shut Down 'Illegal' Bitcoin Miners By September
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CoinDesk, 1/1/0001 12:00 AM PST China's Xinjiang autonomous region is set to halt "illegal" bitcoin mining operations by the end of August, a government agency has confirmed. |
The tech investment wave has reached Latin America
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TechCrunch, 1/1/0001 12:00 AM PST Gonzalo Costa Contributor Share on Twitter Gonzalo Costa is co-founder and managing partner at NXTP Labs, an early-stage fund for tech companies in Latin America. Latin America faces a unique opportunity to develop the next generation of tech startup stars. Market conditions such as Internet and mobile Internet user growth outpace the US. And a […] |
Bitcoin Price Hits Two-Month High as Dominance Rate Spikes
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CoinDesk, 1/1/0001 12:00 AM PST Bitcoin's rally to two-month highs has more substance than initially thought, the BTC dominance rate indicates. |
Mexico's socialist president-elect wants to fix trade with the USA by appealing to Trump's anti-establishment politics
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Business Insider, 1/1/0001 12:00 AM PST
Mexican President-elect, Andres Manuel Lopez Obrador, has sent US President Donald Trump a letter urging him to help bring an end to NAFTA negotiations, saying the pair could work together as two anti-establishment politicians that put their "voters and citizens at the center" of what they do. Mexican officials disclosed existence of the letter on Sunday, after President Trump received it during a meeting between senior officials of both countries held in Mexico, Reuters reported. Lopez Obrador became Mexico’s President elect in a landslide victory on July 1, on a socialist platform advocating financial aid for students and the elderly, energy reform, slashing the wages of politicians and increased social spending. Lopez Obrador's appointed foreign minister, Marcelo Ebrard, read the letter at a news conference with Obrador, and said the incoming government’s aim is to "start a new chapter in the relationship between Mexico and the United States, based on mutual respect." Trump has spoken against Mexican immigration and trade, and Obrador pledged to put Trump "in his place" during his campaign, but despite this history and their differing politics, Obrador said he is optimistic about their working relationship, Reuters reported. "I am encouraged by the fact that we both know how to do what we say, and we have both faced adversity with success… We manage to put our voters and citizens at the center and displace the establishment." Obrador wrote. The Mexican President, who will take office on December 1 called for an end to the NAFTA free trade talks which have dragged on and which Obrador said have damaged economic confidence in his country. "Prolonging the uncertainty could stop investment in the medium and long-term, which clearly would challenge economic growth," Lopez Obrador added in his letter. The leader wrote that he was willing to back an "initiative and budgetary proposal to contribute economic resources and experiences in this joint effort." |
Mexico's socialist president-elect wants to fix trade with the USA by appealing to Trump's anti-establishment politics
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Business Insider, 1/1/0001 12:00 AM PST
Mexican President-elect, Andres Manuel Lopez Obrador, has sent US President Donald Trump a letter urging him to help bring an end to NAFTA negotiations, saying the pair could work together as two anti-establishment politicians that put their "voters and citizens at the center" of what they do. Mexican officials disclosed existence of the letter on Sunday, after President Trump received it during a meeting between senior officials of both countries held in Mexico, Reuters reported. Lopez Obrador became Mexico’s President elect in a landslide victory on July 1, on a socialist platform advocating financial aid for students and the elderly, energy reform, slashing the wages of politicians and increased social spending. Lopez Obrador's appointed foreign minister, Marcelo Ebrard, read the letter at a news conference with Obrador, and said the incoming government’s aim is to "start a new chapter in the relationship between Mexico and the United States, based on mutual respect." Trump has spoken against Mexican immigration and trade, and Obrador pledged to put Trump "in his place" during his campaign, but despite this history and their differing politics, Obrador said he is optimistic about their working relationship, Reuters reported. "I am encouraged by the fact that we both know how to do what we say, and we have both faced adversity with success… We manage to put our voters and citizens at the center and displace the establishment." Obrador wrote. The Mexican President, who will take office on December 1 called for an end to the NAFTA free trade talks which have dragged on and which Obrador said have damaged economic confidence in his country. "Prolonging the uncertainty could stop investment in the medium and long-term, which clearly would challenge economic growth," Lopez Obrador added in his letter. The leader wrote that he was willing to back an "initiative and budgetary proposal to contribute economic resources and experiences in this joint effort." Join the conversation about this story » NOW WATCH: An early investor in Airbnb and Uber explains why he started buying bitcoin in 2009 |
Bitcoin Price Hits $7700 as Other Coins Remain Relatively Sluggish
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CryptoCoins News, 1/1/0001 12:00 AM PST The Bitcoin price rose by nearly 5% overnight on Sunday to touch the $7700 level after having had a relatively quiet Sunday trading between the $7400 and $7500 mark. This unexplained boost could probably be due to more investors taking their money out of other crypto currencies and sliding them into the top cryptocurrency. At The post Bitcoin Price Hits $7700 as Other Coins Remain Relatively Sluggish appeared first on CCN |
Brazilian Bitcoiner Sees Passport Suspended after Slamming Tax Service
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CryptoCoins News, 1/1/0001 12:00 AM PST A popular Brazilian YouTuber has been prohibited from leaving the country after he slammed the country’s federal revenue service, the Receita Federal, in one of his videos. The YouTuber, Daniel Alves Fraga, is a well-known libertarian who first got into bitcoin in 2012. According to local news outlet Portal do Bitcoin, Fraga was hit with The post Brazilian Bitcoiner Sees Passport Suspended after Slamming Tax Service appeared first on CCN |
10 things you need to know in markets today
Good morning! Here's what you need to know in markets on Monday.Bitcoin's Price Sets Sights on $8K After Sunday Sell-off
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CoinDesk, 1/1/0001 12:00 AM PST Bitcoin continues to hold ground amid market sell-off with growing momentum to take out its next target of $8,000. |
Hedge Fund Billionaire & Citadel Founder Ken Griffin Blasts Bitcoin
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CryptoCoins News, 1/1/0001 12:00 AM PST At the recent CNBC institutional investor Delivering Alpha Conference, Ken Griffin openly expressed his opinion against the digital assets. While Griffin’s words may be turning a few heads, this is not the first time the billionaire spoke ill of cryptocurrency. Griffin Has Always Been Very Clear in His Dislike of Bitcoin Back in December, when The post Hedge Fund Billionaire & Citadel Founder Ken Griffin Blasts Bitcoin appeared first on CCN |