Tech-heavy stock market indices, including the Nasdaq Composite and the S&P 500, have begun to recover. Amazon posted high pandemic sales that led profits to climb threefold and reported a 37% spike in revenue. Facebook also surpassed Wall Street expectations, achieving $21.5 billion in revenue during the third quarter. Although the correlation between Bitcoin and U.S. stocks has declined in recent weeks, the probability that the rising risk-on market sentiment could buoy BTC remains high. As Kevin Svenson, a chartist at Kraken’s Cryptowatch, explained, the market direction between Bitcoin and the S&P 500 is the “same 80% of the time.” …
Galaxy Digital CEO and known Bitcoin (BTC) proponent, Mike Novogratz, said he sees upcoming financial market difficulties if Democrats take the U.S. presidential bid in November. "Electing Biden and Harris, as much as it's going to be great for the country, it's not going to be great for the market," Novogratz told Bloomberg in an Aug. 14 interview. Following his comments on Biden's vice president, Kamala Harris, being "fair" to Wall Street if elected, Novogratz mentioned heightened taxes from a Democratic presidential win. "The Democrats are going to be tougher on Wall Street in terms of the tax plan," he …
As fears of disinformation and election tampering take hold of citizens across the globe, many are left to wonder if there’s a solution that can quell voter concerns. A recent study by global communications firm Ketchum found growing distrust among individuals around voting machines (59%), issues with voter databases (60%), interference through technology (63%) and the influence of social media (61%). In the United States, this year’s Iowa Democratic Party caucuses left voters frustrated when a voting app resulted in incorrect and wholly unreliable results. Delays ensued, and a candidate prematurely proclaimed himself the winner, which led to questions as …
A new political action committee (PAC) supporting presidential candidate Andrew Yang is allowing donations in Bitcoin (BTC) via Lightning Network. The PAC, named Humanity Forward Fund (Humanity FWD), rolled out its Bitcoin-powered fundraising program, named “21 Days of Bitcoin for the 21st Century” on July 25, and will continue accepting Bitcoin donations until Aug. 14, according to its official website. Humanity FWD partnered with OpenNode to enable donations via Lightning Network Humanity FWD was launched by supporters of Democratic presidential candidate Yang on July 24 to support his run for the presidency of the United States in 2020, Coindesk reported …
U.S. Senate candidate Austin Petersen, who is known for his Bitcoin (BTC) advocacy, lost the Republican primary election Aug. 7. According to unofficial results published by the Missouri Secretary of State, Petersen lost the battle to Attorney General Josh Hawley, who received 58.6 percent of the 663,553 votes. Hawley will go on to face to Democratic Missouri Sen. Claire McCaskill in the general election. Petersen tweeted: “Sorry I couldn't pull out a win for us, friends. My faults as a candidate are my own, and not the fault of our activists. I am not a perfect messenger. One day soon …