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OKEx, one of the world's leading crypto exchanges, announced a few days ago that it had suspended crypto withdrawals on the platform. OKEx blames the situation on an unreachable employee, owner of a private key, who is cooperating with authorities in an unrelated matter.
In what could be an official obituary, the G7 regulators have opposed Facebook's controversial Libra project. This may be the last time we write about this major strategic blunder by one of the world's top technology firms.
After a boisterous start to the week, fresh warnings of a slower global economy have pushed U.S. benchmarks on their backfoot. Even the great stocks are surpassing levels of near-term sensibility.
Companies including Verizon, Coca-Cola and Starbucks have either halted or plan to pause all social media advertising because platforms have “failed to stop the spread of hate.”
We emphasize to our traders that sometimes you’re able to receive breaking trading news from Twitter tweets and worldwide news networks before the trading squawk boxes and financial news television report the story.
Facebook Released Its Libra (Not GlobalCoin) Whitepaper. There Is A Large Amount Of Content To Digest But We Give Our Early Thoughts And Highlight Some Questions.
A word of caution to anyone who thinks trading is a passive exercise. Yes, Facebook got taken to the woodshed right there in the 618th day of the rally. The stock has not recovered and with a screaming headline at Drudge this morning, it appears they aren’t learning their lesson. They will continue to invite regulators. But that’s a stock market story for a different day down the road.
Time window season came and went. Then there was Facebook, which got clobbered just as markets hit 618 days off the February 2016 bottom. This was one of the tougher windows the market has encountered this century. There was plenty of reason to believe the 610 would sustain and in certain instances, it has. But for the most part, markets have been higher than they were in the middle of July.
Asian equities kicked off the week in negative territory following the declines on Wall Street on Friday. The solid U.S. GDP data did little to support markets. The economy expanded at its quickest pace since 2014 in the second quarter, growing 4.1%, almost double the first quarter’s growth. However, investors have already priced in the positive news and so it came as no surprise. In fact, the surprise was in some of the big tech earnings results, in particular, Facebook, Twitter and Intel, which led to declines of more than 2.4% on the Nasdaq Composite Index on Thursday and Friday.
Facebook lost about $119 billion of its value on Thursday, marking the biggest one-day loss in U.S. market history. The company's shares plunged $41.24, or almost 19%, to $176.26 a day after the social media giant reported disappointing results. The slide is the largest decline in market capitalization in history, exceeding Intel's $91 billion single-day loss in September 2000, according to Bloomberg data.