American Technologies Network (ATN) Gives Back to Hunting Community with Significant Price Reductions
DORAL, Fla., Aug. 9, 2022 /PRNewswire/ — Throughout the month of August, ATN Corp., a leading tech optics company that has revolutionized the great outdoors with its digital and thermal long-distance scope image products, is helping more hunters put meat in their freezers this fall with steeply discounted prices on its flagship thermal optic devices. […]Continue Reading
USA Senior Care Network Achieves HITRUST® Risk-based, 2-year Certification to Manage Risk, Improve Security Posture, and Meet Compliance Requirements for Healthcare Data
AUSTIN, Texas, Aug. 9, 2022 /PRNewswire/ — USA Senior Care Network (USA SCN), the largest Medicare Supplement hospital network in the country, today announced that the system for managing its client and provider healthcare data has earned Certified status for information security by HITRUST. HITRUST Risk-based, 2-year (r2) Certified status demonstrates that USA SCN has […]Continue Reading
South Korea is considered the fourth biggest gaming market and one of the biggest blockchain adopters. However, the country has banned play-to-earn (P2E) blockchain games due to the crypto integration. The new pro-crypto president Yoon Suk-yeol had hinted at lifting the ban, but the government has yet to show any significant effort.Anthony Yoon, managing partner of blockchain investment and accelerator firm ROK Capital, in an exclusive interview with Cointelegraph, said that GameFi is a natural fit for Korean game publishers. Yoon shed light on the current state of GameFi in the country and how game studios are approaching blockchain integration during the Korean Blockchain Week 2022 (KBW)Yoon explained that there are two thought processes among Web2 gaming companies looking to shift to web3 and blockchain gaming. Where one camp is looking for ways to derive value for their projects and create their ecosystem on blockchain from scratch, and token integration is the last step, while the other camp they are ready to launch a token first and outsource the technology. Talking about the popularity of global blockchain projects such as Solana (SOL) and Polygon (Matic) against the native Korean projects, Yoon explained that their popularity is not just dependent on the amount of capital they bring in but more so on the infrastructure and ecosystem they have to offer. He explained:“From a feasibility perspective, I think something that these gaming studios also look at – are their users on this chain. Is there an ecosystem on this chain? Is there infrastructure on the chain?”Yoon also said that while native chains do play a key role in developing the ecosystem, but the major focus of game studios is to build for a global ecosystem.Related: Web2 adoption key to Metaverse success, Klaytn Foundation — KBW 2022In another chat, WeMade CEO Henry Chang talked with Cointelegraph about current trends in the GameFi sector, its potential future and WeMade’s new gaming blockchain platform Wemix.Chang said that even though crypto-integrated blockchain games are banned in Korea, crypto definitely has a utility in the gaming industry. He added that crypto would find a place in most of the games in the coming years. He concluded by saying – for crypto games to be successful, they must have a formidable in-game economy.Continue Reading
Bitcoin (BTC) consolidated lower on Aug. 9 after familiar resistance preserved a multi-month trading range.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin navigates whale price ladderData from Cointelegraph Markets Pro and TradingView showed BTC/USD falling under the $24,000 mark overnight after rejecting near $24,200. The pair had seen swift gains to start the week but momentum faded as the top of the trading range in place since mid-June came closer.As such, bulls failed to reclaim new ground or even match the highs seen at the end of July, and the status quo thus continued. At the time of writing, BTC/USD was consolidating near $23,800.For on-chain analytics resource Whalemap, it was realized price that was now forming major levels to overcome.In a Twitter update on Aug. 8, Whalemap, which monitors buys and sells of large-volume players to establish likely solid support and resistance zones, highlighted various prices at which the BTC supply on aggregate last moved.An accompanying chart broke down realized price by wallet size and showed at what price BTC belonging to particular whales last left its wallet.”Realised price bands are the main thing providing resistance for Bitcoin currently,” the Whalemap team wrote in accompanying comments.”Confidently getting above $24,825 and consolidating should be key for a continuation higher.”Bitcoin realized price bands annotated chart. Source: Whalemap/ TwitterAs Cointelegraph reported, other support and resistance levels in play this week include the 100-day and 200-week moving averages (MAs).For popular trader Credible Crypto, a deeper retracement could happen, and may involve as low as $23,360 without disrupting even the low-timeframe trend.Front ran local demand and followed the green path with a break of our red region. That being said, not totally convinced that this ltf corrective structure is complete. Want to see more PA develop. Also will be traveling so won’t be as active for the next few days! $BTC https://t.co/F41n8JAWqO pic.twitter.com/rhZRPpMRsR— CrediBULL Crypto (@CredibleCrypto) August 8, 2022″Looking for that flip into support for one more macro push up to send it,” fellow trader Crypto Tony added in part of a more optimistic take on the range high.Markets unmoved by Wednesday inflation figuresPotential volatility meanwhile remained on the radar, with upcoming United States inflation data, due Aug. 10 high on traders’ list of market triggers to watch.Related: Has US inflation peaked? 5 things to know in Bitcoin this weekU.S. stocks had shown little sign of concern on the first trading day of the week, however, with the S&P 500 ending flat and Nasdaq Composite Index seeing slight gains of 0.4%.I have pointed out in the past that China CSI 300 is possibly frontrunning #crypto and the American stock markets. Be aware that the current crypto rally could retrace a lot since the S&P 500 is now close to resistance ☝️ pic.twitter.com/uv5tUESPNK— BTCfuel (@BTCfuel) August 8, 2022
In fresh analysis on global macro, popular Twitter account BTCfuel nonetheless voiced caution. Losses in China, it warned, could yet precede a U.S. copycat move in what would place fresh pressure on highly-correlated crypto markets.In terms of inflation, opinions were also mixed, Cointelegraph noting that Tesla CEO, Elon Musk, already felt that price increases were slowing alongside declining commodities.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.Continue Reading
Crypto platform Bitcoin.com is looking to expand its ecosystem by introducing Bitcoin (BTC) holders to the world of decentralized finance (DeFi) and implementing new services such as a decentralized exchange (DEX) in its platform. Speaking with Cointelegraph’s Andrew Fenton at the Korea Blockchain Week (KBW) 2022, Bitcoin.com’s head of financial services Corbin Fraser said that the company is moving from only being associated with Bitcoin Cash (BCH) to becoming a DeFi platform that caters to crypto users across multiple chains. Fraser explained that: “We’ve got a lot of BTC users and a lot of these people want to do more with their crypto than just hold it. And they know there are opportunities in DeFi, but it’s a little bit complicated, a little bit scary.”Because of this, Fraser added that their team is focused on working to make the user experience easier and provide a more “friendly” crypto wallet. In addition to its DEX, the executive also highlighted their plans to release a prepaid debit card and run a token sale. With the debit card, the firm is planning to reward users who top up and for their usage. By seeing what people are spending their fiat money on, Fraser believes that they have the opportunity to create interesting reward campaigns. He explained that: “Let’s say gas is through the roof, we could potentially go after and say, okay, anytime you top up your fuel tank with some petrol, we can add an extra 2% kickback in our verse token.”Fraser said that this can be a way for their firm to help users through their day-to-day challenges. He said that it will be their way of saying, “sorry, inflation sucks so much, but there’s a little taste of crypto.”Related: KBW 2022: Digital property rights key to thriving Web3 economy — Animoca’s Yat SiuWhen asked about the demographics of Bitcoin.com’s community members, the executive mentioned that the majority of their users are BTC users who are looking for Bitcoin and its wallets. But with their company’s foray into DeFi, the firm can introduce those who found Bitcoin into different routes like stablecoins, Ethereum (ETH) and other opportunities within the ecosystem. At the same event, the CEO of Metaverse firm Everyrealm, Janine Yorio, told the KBW audience that while the Ready Player One film shows the Metaverse in virtual reality, most developments in the virtual world at the moment are being built for the desktop.Continue Reading
Yat Siu, co-founder of Hong Kong-based venture firm Animoca Brands has argued that on-chain digital property rights are the main aspects of blockchain technology that will drive a more decentralized society.Speaking at Korean Blockchain Week 2022 (KBW), the Hong Kong entrepreneur noted that we’re all “digital dependents” and “data is the resource of metrics” that bring value to platforms like Apple, Google, and Facebook, Sui said:“The most powerful companies in the world today are not energy companies or resource companies, they’re tech companies and they’re not powerful because they make software. They’re powerful because they control our data.”But unlike the Web2 platforms that we’ve become accustomed to, blockchain-based applications allow us to control that data and not be subject to “digital colonization”, said Sui, adding: “The powerful [thing about] Web3 is the fact that we can take ownership and we can make a big change with this because we have distributed and decentralized ownership for these assets.”Sui also reinforced the importance of property rights by making the point that countries that afford strong property rights to their citizens enable their society to thrive. Sui pointed out the correlation between the International Property Rights Index (IPRI), and the Gross Domestic Product Index (GDPI):“Places that have almost no property rights […] You can see [are in] the bottom 20% [of GDPI] But the countries that have very strong property rights, South Korea, USA, Japan, most of Europe, enjoy very, very high property rights,” he explained, adding that digital property rights should be no different.Digital ownership set to take off in AsiaSiu added that the Asian continent has by far the most room to grow when it comes to Web3, as well as capitalizing on digital property rights. Siu said that Asia has a very rich history of “incredible content” and “digital expression”, much of which can be transformed into blockchain-based assets [in the form of NFTs] and provide them with digital property rights over their assets.Related: Digital sovereignty: Reclaiming your private data in Web3Siu added that while people of Asia spend more time on the internet today than on any other continent, there is still so much room to grow. “Unlike the rest of the world, which has almost 100% penetration in the West,” Asia is only around 67% continent-wide internet adoption, he noted. Siu also said that the sentiment toward blockchain-based metaverses, gaming, and non-fungible tokens (NFTs) as well as the digital property rights that come with them is much more positive compared to the West.Continue Reading
Everyrealm CEO Janine Yorio has dispelled misconceptions that the Metaverse can only be presented “exclusively in VR.” Speaking on Aug. 9 during Korean Blockchain Week 2022, Yorio told an audience in Seoul that Steven Spielberg’s Ready Player One had given us a glimpse into what life could be like if we were living in the Metaverse. However, the movie gives us this misconception about the Metaverse because “the protagonist is wearing a VR headset”, she argues, despite most developments in the Metaverse currently being “developed for your desktop” according to Janine Yorio. Yorio highlighted that consumer preferences has been the reason behind this, as the way humans like to “interact with technology” is “18 inches from your face, not three inches from your face” adding that “way more people have computers than have VR headsets.”Yorio highlighted that the idea of the Metaverse being exclusively in VR is unrealistic, saying that while Ready Player One showed us that this “immersive photo real environment” was an exciting concept, it isn’t going to happen in the “near term future” as it isn’t how humans are used to interacting with technology. The Everyrealm executive suggested that the Metaverse being “exclusively in VR ” contradicts how humans are used to using technology, which is generally multi-tasking or used to “procrastinate”, whereas “when you’re using VR you have to check out of life entirely.” We can expect the next “12 to 36 months” to be the most exciting time for the Metaverse, said Yorio, noting this will be the time “when a lot of the triple A gaming studios…are actually going to start building and delivering the kind of Metaverse” that people are looking forward to.After this major shift in development happens this is when we can expect “mainstream adoption […] the moment we’re all waiting for” she explained. Everyrealm is a company that invests, manages, and develops digital assets such as NFTs, Metaverse platforms, gaming, and infrastructure. The company currently has holdings in 25 Metaverse platforms as well as owning over 3000 NFTs and managing more than 100 real estate developments.Related: Experts clash on where virtual reality sits in the MetaverseDuring the presentation, Yorio also shared Everyrealm’s project plans in the near future with a focus on fashion as it is “one of the private primary driving drivers of commerce.” “Metaverse users will be able to look forward to having a look-alike avatar that they can dress with clothing from different designers […] as we strongly believe that fashion will move the Metaverse forward.”Yorio also noted that they were not prioritizing building music concerts in the Metaverse, calling the idea of concerts in the Metaverse “terrible.” “We go to live shows to get the ‘bass’ feeling in our feet and being with friends and actually dancing and you can’t do any of that […] but the pandemic made us a little bit more forgiving of what a concert can be.”Continue Reading
Sky Mavis, the firm behind Play-to-Earn (P2E) heavyweight Axie Infinity is looking to “double down” in South Korea and ramp up adoption despite the regulatory hurdles. Speaking with Cointelegraph at the Korea Blockchain Week on Aug. 9 (local time), Sky Mavis co-founder and growth lead Jeffrey Zirlin stated that despite the domestic ban on P2E games still being in place, the “Korean market is one of the most important gaming markets in the world, and we have tons of players in South Korea.”Zirlin added that the company is currently looking at ways to tailor the Axie Infinity game to its cohort of Korean gamers: “I think you know, we want to double down. We want to localize for example, Koreans don’t speak much English, right? So there are actually a lot of barriers to actually getting the game into the hands of Korean players.” “But a lot of our top players on the leaderboard are Korean […] Koreans are some of the best gamers in the world,” he added. South Korea Game Rating and Administration Committee prohibits the release of domestic blockchain P2E games as a result of strict anti-gambling policies. In December, the government also moved to prohibit Google Play and the Apple Store from listing such games in Korea. “In terms of the regulation, it’s still quite early. It’s similar to the app stores where you know, it’s gonna be a process of negotiation and education,” Zirlin noted, adding that he hopes P2E adoption is enough to sway the government to walk back its hawkish regulation in the future: “It’s really Uber as an approach right? They just launched, they got it into the hands of as many people as possible and once they had a critical mass the regulators had to go with it.”Related: Vitalik Buterin proposes stealth addresses for anonymous NFT ownershipThe Axie Infinity project is still in its early access stage and is yet to roll out an app via Google Play or the Apple Store. According to Active Player, the game had roughly 766,000 people that logged in to play the game last month, a far cry from the heights of 2.7 million recorded in January this year. As it stands, Axie Infinity is looking to ramp up adoption — in Korea and globally — by improving the gaming experience and expanding out its ecosystem via new battle modes such as Origin, which topped more than 600,000 sign ups as of mid-June. “Origin is our main focus right now. So building that out and making it more immersive, adding in vertical progression, like runes and charms and body part upgrades to act as sustainable sinks [burning mechanisms] for tokens and making it more fun.”“Origin crucially comes with three free starter Axies (NFT characters) so that people can fall in love with the game [without having] to make any economic or financial decisions,” he added.Continue Reading
The United States equities markets and the cryptocurrency markets have started the week on a strong note, indicating that traders are not nervous about buying ahead of the important Consumer Price Index (CPI) data for July, which will be released on Aug. 10.Another positive sign is that the recent recovery in Bitcoin (BTC) has not tempted investors to exit their positions in fear of another leg down. Glassnode data shows that the percentage of supply that has stayed dormant for three or more years rose to a new all-time high of 38.426% on Aug. 8.Daily cryptocurrency market performance. Source: Coin360BlackRock CEO Larry Fink sold 44,000 BlackRock shares in August, the biggest sale since the COVID-19 crash. Some analysts are speculating that the current recovery in the equities markets is only a bear market rally. If that is the case, then a downturn in the equities markets could also increase the selling in crypto prices as both remain closely correlated. Could Bitcoin and select altcoins climb above their respective overhead resistance levels and extend the recovery in the short term? Let’s study the charts of the top-10 cryptocurrencies to find out.BTC/USDTBitcoin bounced off the 20-day exponential moving average (EMA)($22,846) on Aug. 7 and the momentum picked up on Aug. 8. The buyers pushed the price above $24,000 and could challenge the overhead resistance at $24,668.BTC/USDT daily chart. Source: TradingViewThe 20-day EMA is sloping up and the relative strength index (RSI) is in the positive territory, indicating that bulls are in control. If buyers propel the price above the overhead resistance, the BTC/USDT pair could pick up momentum and rally to $28,000 as there is no significant resistance in between. The bears may try to stall the recovery at this level but if bulls overcome this barrier, the up-move could reach $32,000.Contrary to this assumption, if the price turns down from $24,668, the pair could drop to the 20-day EMA. This is an important level to watch out for because a break below it could drag the price to the 50-day simple moving average (SMA($21,594). A break below this level could put the bears back on top.ETH/USDTBuyers pushed Ether (ETH) above the overhead resistance at $1,700 on Aug. 5 and the bulls successfully defended the breakout level on Aug. 6 and 7. Buying resumed on Aug. 8 and the bulls pushed the price above the overhead resistance at $1,785.ETH/USDT daily chart. Source: TradingViewIf bulls sustain the price above $1,785, the ETH/USDT pair could pick up momentum and rally to the psychological level at $2,000. This level may attract selling by the bears but if bulls arrest the next decline above $1,700, the likelihood of a break above $2,000 increases. If that happens, the pair could rally to the downtrend line.This positive view could invalidate in the short term if the price turns down and breaks below the 20-day EMA ($1,606). The pair could then slide to the 50-day SMA ($1,362).BNB/USDTBNB recovery has reached the strong overhead resistance zone between $338 and $350 where the bears are expected to mount a strong defense.BNB/USDT daily chart. Source: TradingViewIf the price turns down from the current level, the BNB/USDT pair could decline to the 20-day EMA ($289). This is an important level to keep an eye on because a strong bounce off it will suggest that the positive sentiment remains intact and traders are viewing dips as a buying opportunity.The bulls will then make one more attempt to clear the overhead zone. If they succeed, the BNB/USDT pair could further pick up momentum and rally toward $414. This positive view could invalidate in the short term if the price turns down and breaks below the 20-day EMA.XRP/USDTXRP’s price has been squeezed between the 20-day EMA ($0.36) and the overhead resistance at $0.39 for the past few days. Usually, such tight ranges lead to a range expansion.XRP/USDT daily chart. Source: TradingViewThe rising 20-day EMA and the RSI in the positive area indicate advantage to buyers. If bulls push and sustain the price above $0.39, it will suggest the start of a new up-move. The XRP/USDT pair could then rise to $0.48 and later to $0.54.This positive view will invalidate in the near term if the price turns down and breaks below the 20-day EMA. The pair could then drop to the 50-day SMA ($0.35). Such a move will suggest that the pair may spend some more time inside the range.ADA/USDT Cardano (ADA) bounced off the 20-day EMA ($0.50) on Aug. 5 and has reached the strong overhead resistance at $0.55. ADA/USDT daily chart. Source: TradingViewThe 20-day EMA is sloping up and the RSI is in the positive territory, indicating that the path of least resistance is to the upside. If buyers thrust the price above $0.55, the ADA/USDT pair could start its northward march toward $0.63 and then to $0.70. The bears may pose a strong challenge at this level.To invalidate this positive view, the bears will have to sink and sustain the price below the 50-day SMA. That could extend the stay of the pair inside the range between $0.40 and $0.55 for a few more days.SOL/USDTSolana (SOL) rose above the 20-day EMA ($40) on Aug. 5 and the bulls thwarted attempts by the bears to sink the price back below the level. The buying resumed on Aug. 8 and the bulls will attempt to push the price to the overhead resistance at $48.SOL/USDT daily chart. Source: TradingViewThe 20-day EMA is rising up gradually and the RSI is in the positive zone, indicating that the bulls have the upper hand. If buyers drive the price above $48, the bullish ascending triangle pattern will complete. The pair could then start a rally to $60 and thereafter to the pattern target at $71.Alternatively, if the price turns down from $48 like the previous two occasions, it will suggest that bears are defending the level aggressively. That could keep the pair stuck inside the triangle for a few more days. The bullish setup will invalidate on a break below the support line. DOGE/USDTDogecoin (DOGE) bounced off the 20-day EMA ($0.07) on Aug. 7, indicating that bulls are defending the moving averages with vigor. However, the long wick on the Aug. 8 candlestick suggests that bears are selling at higher levels.DOGE/USDT daily chart. Source: TradingViewThe flattish moving averages indicate a balance between supply and demand but the RSI in the positive territory suggests a minor advantage to the buyers. If bulls push the price above the overhead resistance at $0.08, it will complete the ascending triangle pattern. The pair could then start a rally to the psychological resistance at $0.10.Conversely, if the price turns down from the overhead resistance, the DOGE/USDT pair could stay inside the triangle for a few more days. The bears will have to sink the price below the trendline to invalidate the bullish setup. Related: Metaverse housing bubble bursting? Virtual land prices crash 85% amid waning interestDOT/USDTPolkadot (DOT) turned down from the overhead resistance at $9 on Aug. 6 but the bulls did not cede ground to the bears. They resumed their purchase on Aug. 7 and pushed the price above the overhead resistance on Aug. 8.DOT/USDT daily chart. Source: TradingViewThe 20-day EMA is sloping up and the RSI is in the positive territory, indicating that bulls have the upper hand. If buyers sustain the price above $9, the bullish momentum could pick up and the DOT/USDT pair could rise to $10.80 and later to $12.Contrary to this assumption, if the price turns down and breaks back below $9, it will suggest that the breakout may have been a bull trap. The pair could then decline to the 20-day EMA ($8.07) and later to the 50-day SMA ($7.49).MATIC/USDTPolygon (MATIC) formed a Doji candlestick pattern on Aug. 7, which resolved to the upside on Aug. 8. This suggests that bulls are buying the dips to the 20-day EMA ($0.86).MATIC/USDT daily chart. Source: TradingViewThe upsloping moving averages and the RSI in the positive territory indicate advantage to buyers. The MATIC/USDT pair could rise to the overhead resistance at $1.02 where the bears may mount a strong defense. If bulls do not give up much ground from $1.02, the likelihood of a break above it increases. The pair could then rally to $1.26 and then to $1.50. The first sign of weakness will be a break and close below the 20-day EMA. That could open the doors for a possible drop to $0.75.AVAX/USDTAvalanche (AVAX) broke and closed above the strong overhead resistance at $26.38 on Aug. 6, indicating the completion of the bullish ascending triangle pattern.AVAX/USDT daily chart. Source: TradingViewThe AVAX/USDT pair could rise to $33 and later to the pattern target of $39.05. While the upsloping moving averages indicate advantage to buyers, the RSI has risen into the overbought zone, suggesting a minor correction in the near term.If bulls flip the $26.38 level into support during the next correction, it will signal a potential trend change. This positive view could be invalidated in the near term if the price turns down and breaks below the moving averages.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.Market data is provided by HitBTC exchange.Continue Reading
Retail traders who lurk in forums like Reddit’s WallStreetBets are back to betting against Wall Street pros and the Federal Reserve as rallies for meme stocks like Bed Bath & Beyond Inc. and AMC Entertainment Holdings Inc. show shades of last year’s mania. The home-good retailer nearly tripled at one point during its nine-day winning […]Continue Reading
Opinions expressed by Entrepreneur contributors are their own. Where’s the crowdfunding for freelancers? Over the past decade, there’s been a tremendous rise in alternative investment models, but the demand in one key market is far outpacing the supply. The number of freelancers — people whose business is their own labor — is growing, but the […]Continue Reading
A veteran broker with Morgan Stanley Wealth Management in Boca Raton was arrested on Thursday after he allegedly harassed an ex-girlfriend in violation of a protective order, according to Palm Beach County Sheriff’s Office records. Gary T. Guglielmo, 49, faces felony charges of aggravated stalking and witness tampering and a misdemeanor for violating an injunction […]Continue Reading
Opinions expressed by Entrepreneur contributors are their own. Leading and managing people is a learned skill. If you’re seeking to be a better leader and create a high-performing organization, master these seven tasks below: 1. Assess and monitor team climate Climate is about shared beliefs and perceptions of groups regarding the attitudes that characterize the […]Continue Reading
The Josephine Marijuana Enforcement Team (JMET) worked with Josephine County Code Enforcement to raid the grow on Aug. 4 in Selma, located in the southwestern region of Oregon. In addition to seizing over 140 plants, 200 pounds of illegal cannabis were also seized and destroyed.
According to the Josephine County Sheriff’s Office, the size of the grow wasn’t a big deal. “Although the size of this grow operation was not large in comparison to others we have seen this year, it was well beyond the legal limit of four plants allowed per Oregon State Law,” the department wrote in a Marijuana Search Warrant document. Just a few days before this raid occurred, JMET conducted four other search warrants and found over 12,000 plants, and over 4,535 kilograms of processed cannabis.
However the report did briefly address why they left four plants behind. “JMET always leaves four legal marijuana plants when we dismantle each grow operation,” the report continued.
One person was arrested on site of the most recent raid, a 51-year-old man charged with unlawful manufacturing and possession of cannabis. Due to other violations on site, including “multiple electrical and solid waste code violations,” this could also result in “civil forfeiture of the property.” It was not specified who would care for the four remaining cannabis plants while the arrested individual is absent.
According to NORML, cultivating four to eight plants in Oregon is considered a misdemeanor, with the possibility of six months jail time and a fine of up to $2,500. Cultivation of more than eight plants is a felony, which could lead to up to 5 years in prison and up to $125,000 in fines.
In October 2021, the Jackson County Board of Supervisors called a State of Emergency regarding the influx of illegal cultivation, and petitioned Gov. Kate Brown for assistance. “Since recreational marijuana was legalized by the voters of Oregon in the November 2014 general election, the illegal and unlawful production of marijuana in our county has overwhelmed the ability of our county and state regulators to enforce relevant laws in our community,” said Jackson County Commissioner Rick Dyer.Continue Reading
Bitcoin is likely to transition from a risk-on to a risk-off asset in the second half of 2022, as the macroeconomic environment is rapidly shifting towards a recession, said Mike McGlone, senior commodity strategist at Bloomberg, in a recent interview with Cointelegraph. McGlone predicted:“ I see it transitioning to be more of a risk-off asset like bonds and gold, then less of a risk-on asset like the stock market.”According to the analyst, the crypto market has flushed out most of the speculative excesses that marked 2021 and it is now ripe for a fresh rally. McGlone also pointed out that the Fed’s aggressive hiking of interest rates will lead the global economy to a deflationary recession, which will ultimately favor Bitcoin:“I fully expect we’re going to have a pretty severe recession globally, which probably will make Bitcoin shine […] along with gold and U.S. Treasury long bonds.”Don’t forget to check out the full interview on our YouTube channel and don’t forget to subscribe!Continue Reading
The U.S. Federal Reserve (FED) recently initiated an attempt to reduce its $8.9 trillion balance sheet by halting billions of dollars worth of treasuries and bond purchases. The measures were implemented in June 2022 and coincided with the total crypto market capitalization falling below $1.2 trillion, the lowest level seen since January 2021. A similar movement happened to the Russell 2000, which reached 1,650 points on June 16, levels unseen since November 2020. Since this drop, the index has gained 16.5%, while the total crypto market capitalization has not been able to reclaim the $1.2 trillion level.This apparent disconnection between crypto and stock markets has caused investors to question whether the Federal Reserve’s growing balance sheet could lead to a longer than expected crypto winter.The FED will do whatever it takes to combat inflationTo subdue the economic downturn caused by restrictive government-imposed measures during the Covid-19 pandemic, the Federal Reserve added $4.7 trillion to bonds and mortgage-backed securities from January 2020 to February 2022.The unexpected result of these efforts was 40-year high inflation and in June, U.S. consumer prices jumped by 9.1% versus 2021. On July 13, President Joe Biden said that the June inflation data was “unacceptably high.” Furthermore, Federal Reserve chair Jerome Powell stated on July 27:“It is essential that we bring inflation down to our 2 percent goal if we are to have a sustained period of strong labor market conditions that benefit all.”That is the core reason the central bank is withdrawing its stimulus activities at an unprecedented speed. Financial institutions have a cash abundance issueA “repurchase agreement,” or repo, is a short-term transaction with a repurchase guarantee. Similar to a collateralized loan, a borrower sells securities in exchange for an overnight funding rate under this contractual arrangement.In a “reverse repo,” market participants lend cash to the U.S. Federal Reserve in exchange for U.S. Treasuries and agency-backed securities. The lending side comprises hedge funds, financial institutions and pension funds. If these money managers are unwilling to allocate capital to lending products or even offer credit to their counterparties, then having so much cash at disposal is not inherently positive because they must provide returns to depositors.Federal Reserve overnight reverse repurchase agreements, USD. Source: St. Louis FEDOn July 29, the Federal Reserve’s Overnight Reverse Repo Facility hit $2.3 trillion, nearing its all-time high. However, holding this much cash in short-term fixed income assets will cause investors to bleed in the long term considering the current high inflation. One thing that is possible is that this excessive liquidity will eventually move into risk markets and assets.While the record-high demand for parking cash might signal a lack of trust in counterparty credit or even a sluggish economy, for risk assets, there is the possibility of increased inflow.Sure, if one thinks the economy will tank, cryptocurrencies and volatile assets are the last places on earth to seek shelter. However, at some point, these investors will not take further losses by relying on short-term debt instruments that do not cover inflation.Think of the Reverse Repo as a “safety tax,” a loss someone is willing to incur for the lowest risk possible — the Federal Reserve. At some point, investors will either regain confidence in the economy, which positively impacts risk assets or they will no longer accept returns below the inflation level.In short, all this cash is waiting on the sidelines for an entry point, whether real estate, bonds, equities, currencies, commodities or crypto. Unless runaway inflation magically goes away, a portion of this $2.3 trillion will eventually flow to other assets.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.Continue Reading
President Joe Biden has called on Moscow to release Brittney Griner and said the United States will continue to secure the freedom of the WNBA star, who was sentenced to nine years in prison by a Russian judge last week.
“It’s unacceptable, and I call on Russia to release her immediately so she can be with her wife, loved ones, friends, and teammates,” Biden said in a statement on Thursday.
Earlier that day, Griner was found guilty on drug charges stemming from her February arrest in a Moscow airport. The prosecutor in the case asked the court to sentence Griner to nine-and-a-half years; the judge gave her nine.
“Today, American citizen Brittney Griner received a prison sentence that is one more reminder of what the world already knew: Russia is wrongfully detaining Brittney,” Biden said in his statement following the guilty verdict.
Griner was arrested on February 17 while traveling back to compete for the Russian women’s basketball team UMMC Ekaterinburg, for whom she has played since 2014 during the WNBA’s offseason. Officials at the airport found cannabis oil in Griner’s luggage, leading to the drug charges.
Her detention has created a diplomatic standoff between the U.S. and Russia, with the two sides negotiating a potential prisoner exchange in recent days. Late last month, the Biden administration proposed the release of Griner and Paul Whelan, a U.S. citizen who has been imprisoned on espionage charges in Russia since 2018, in exchange for Viktor Bout, a Russian arms dealer currently serving a 25-year prison sentence in the United States.Continue Reading
Edward D. Jones & Co.’s new flexibility, including allowing brokers to share office space, which in itself has signaled a willingness to break with its century-old solo practitioner model, is already paying off with improved advisor retention, the firm reported in its second-quarter results. Advisor attrition dipped to 6% in the quarter ended June 24, […]Continue Reading
Apple has recently announced a new string of updates for their OS family including iOS, iPadOS 15.6, macOS 12.5, watchOS 8.7 and tvOS 15.6. Bear in mind that the next version of all of these will be out in just a few months, so these updates are a bit light on features as compared to […]Continue Reading
Commercial real estate services and investment firm CBRE Group announced today a new 5-year $3.5 billion revolving credit agreement, with terms linked to a series of the company’s sustainability goals.
The new facility provides incentives tied to achieving goals, including increases in the firm’s offices over 10,000 square feet that achieve sustainability certificates, increased procurement spend with sustainable suppliers and conversion of CBRE’s North American vehicle fleet to EVs. According to CBRE’s 2021 Corporate Responsibility Report, approximately 53% of the firm’s occupied space has been certified under LEED, BREEAM, WELL or Fitwel, CBRE’s spend with sustainable suppliers was $3.4 billion in 2021 (according to EcoVadis assessments), and the company has set a goal to transition its vehicle fleet to EVs by 2035.
Emma Giamartino, Chief Financial and Investment Officer, said:
“The new facility enhances our capacity and flexibility to invest in CBRE’s growth while advancing our environmental, social and governance goals, We appreciate this continued vote of confidence from our lenders in our people, platform and strategy.”
Joint book-runners on the deal included Wells Fargo, BofA Securities, The Bank of Nova Scotia, HSBC Bank USA, National Association, JPMorgan Chase, and National Westminster Bank.Continue Reading