Dalelorenzo's GDI Blog
10Sep/210

Experts saw the Bitcoin flash crash coming

If you think you've had a rough couple of epoches, spare of believed for El Salvador. Hours after it became the first country to adopt Bitcoin as legal tender on Tuesday, the price of the world's most popular cryptocurrency sunk from around $ 52,000 to below $ 45,000. Our top storey today delves into the possible reasons for the latest crypto flash crash.Also in this letter :'D isappointed, demoralised’, chipmaker writes to PM ModiiD Fresh Food records objections over smear campaignOla’s scooter rollout envisions glitches, CEO apologisesIt was coming, experts say, after Bitcoin’s flash crash 8604944 4Bitcoin slipped to below $ 45,000 on Tuesday from a four-month high of about $52,000, hours after it debuted as legal tender in El Salvador, the first country to do so.Why? Experts attributed the 15%' blink crash’ to a lack of liquidity in crypto markets, which is able cause disproportionate influence to large-scale holders, and the facts of the case that crypto markets are most sentiment-driven and shortcoming proper regulation. 8604952 9Automated trading curricula that sell or buy at pre-set expenditures, could have also added to the pressure.Not time Bitcoin: Other cryptocurrencies such as Ethereum, Binance Coin and Cardano also came between 13% and 18% on Tuesday. Dogecoin discontinued 33% at one point.In India, numerous merchants ended up buying the dip. WazirX’s daily trading magnitude has risen to $ 280 million from the usual $100 - $150 million, its president of the united states and cofounder Nischal Shetty said.Volatility built in: Unlike traditional stock markets, they said, crypto marketplaces absence circuit breakers, which are triggered when an indicator or a inventory meets a create doorstep. Wild wavers are thus a standard feature of cryptocurrency sells, they added.It was coming: Professionals and merchants said they were not surprised by the tumble. “Crypto groceries, though originating, aren’t as liquid as traditional financial markets. If there is more liquidity, this[ blink gate-crash] is less likely to happen, ” Shetty said. He lent, however, that there is no data to conclusively explains why a flare sound happens.Retail investors we spoke to said they have realized agreement with crypto's volatile mood. Sanil Mahajan, head of supply chain at a large IT company, said, “One can nearly predict the unpredictability of crypto now. I started coming a feeling of it last week when a few cryptocurrencies contravene through to reach an annual increase. These are typical clues of a 'pump and dump' scheme, and signal that a big crash is coming in a few days.”Disappointed and demoralised, chipmaker writes in letter to PM 8604967 2Tower Semiconductor, an Israel-based semiconductor foundry, transmitted a letter to Prime Minister Narendra Modi, asking him to help fast-track a government proposal for microchip constructing, for which it had swum an expression of interest( EoI) nine months ago.May pull out: The company said that any more delays from the authorities concerned would make it unable to “stay active in the project in the near future”.“We are baffled and demoralised that in spite of the highest G2G level discussion for the proposed semiconductor fab ... there is no clue where we are heading, ” the symbol said.“We would request you to kindly explicitly articulated and communicate the limits of GoI( Government of India) and its stakeholder without further delay, else we show our inability to stay active in the project in near future, ” it added.Three-billion-dollar move: Tower Semiconductor is the technology partner of a consortium swum by Abu Dhabi-based Next Orbit Ventures, which sloped for a$ 3 billion semiconductor fabrication gang in Dholera, Gujarat.The letter was also tagged to finance minister Nirmala Sitharaman, electronics and IT minister Ashwini Vaishnaw, and commerce and industry minister Piyush Goyal. Roots said Vaishnaw, who took over as IT minister about two months ago, had a call with the consortium last week to understand various issues and assure it of the government’s support.Tata’s semiconductor designs: Last-place month we reported that the Tata Group could soon enter semiconductor manufacturing, purporting for a slice of the high-tech electronics creating marketplace that’s pegged at$ 1 trillion. “At the Tata Group, we have already pivoted into a number of new businesses like electronics fabricating, 5G structure rig as well as semiconductors, in all likelihood, ” said N Chandrasekaran, chairman of Tata Sons.Tweet of the dayIt's fascinating to think that over your lifetime you will pass on more champions than you will let into the portfoli ... https :// t.co/ GopyYTsAIx -- Ian Cassel (@ iancassel) 16310963950 00 ETtech Done Deals 8604990 2# Notion, a wreak collaboration firm that was valued at more than$ 2 billion last year, has acquired Hyderabad-based Automate.io in a cash-and-stock deal. Notion will suck Automate.io’s entire 40 -member team, which will continue to operate in Hyderabad .# Edtech startup Leap has raised $55 million in a Series C fund round led by Owl Ventures. The company will use the funds to extend its service suite to students across Southeast Asia, and Middle eastern countries and North Africa regions .# College admittances stage CollegeDekho has arrived $26.5 million in a Series B funding round led by Winter Capital Collaborator, ETS Strategic Capital, Calega and existing investors Man Capital and Rajeev Chaba .# Vahdam India, a wellness firebrand, has pocketed Rs 174 crore in a Series D funding round led by IIFL AMC’s private equity fund. The asset will be used to expand the company’s online and offline dissemination, open new sells and foray into brand-new complementary lists .# WeRize, a financial services platform, has ensured$ 8 million in a Series A funding round led by 3one4 Capital, Kalaari Capital, Picus Capital and Orios Venture Partners. The fund will be used to ramp up investments in technology and originate the partners’ network to more than 50,000 in the next two years .# PayPal is acquiring Japanese 'buy now, bribe later'( BNPL) conglomerate Paidy in a $2.7 billion chiefly cash distribute, taking another step to claim the top spot in an industry witnessing a pandemic-led boom.iD Fresh Food documents accusations over smear campaign 8605009 2PC Musthafa, cofounder and CEO, iD Fresh FoodBillionaire Azim Premji-backed packaged nutrient fellowship iD Fresh Food on Wednesday registered individual complaints with the cybercrime cadre of the Bengaluru city police, and also with WhatsApp, aiming action against people who have prepared a campaign targeting its concoctions on the messaging scaffold and social media websites.What happened? According to the Bengaluru-based company, which stimulates idli and dosa batter, among other things, it has been receiving social media meanings in the past days that carried “misleading and false information” alleging that it utilized animal extracts in its products.The company denied what it called are “baseless allegations that are purely purposed at malign the brand”. “We condemn the spread of such malicious rumors and misinformation and have taken the legal street to rightfully deal with this matter, ” it said in a statement.Coursera is stepping up its India play amid edtech spurt 8605018 0Coursera Inc. is joining entrusts with Indian institutions and innovating pulpit innovations to serve learners in its biggest busines outside of the US.The online tracks provider has 12.5 million cross-file learners in India. About 7.5 million of these signed off since January 2020, obliging the country the fastest growing market for the American company. Coursera has also hoisted India as the hub of its Asia Pacific( APAC) operations.Quote: “The pandemic has dramatically modified the method we learn, teach, and wield. Our strong impetu in India reflects the continued trend of individuals and institutions hugging online learning to develop skills for a digital future, ” Coursera CEO Jeff Maggioncalda said.New collaborators: The company is partnering with four brand-new higher education institutions in India, taking the total number of university collaborators to 10. New spouses include IIT Bombay, IIT Guwahati, Indian Statistical Institute and Ashoka University.Ola’s founder apologises for technical kinks in scooter rollout 8605021 3Ola benefactor and CEO Bhavish AggarwalOla founder Bhavish Aggarwal on Wednesday apologised for not meeting the expectations of customers who were unable to purchase its S1 electrical scooters owing to technical issues.At its open, Ola had announced that its electric scooters would be available for purchase from September 8 and that home delivery would commencing from October.My message on the @OlaElectric obtain issues today. https :// t.co/ vDVfwLqC7U -- Bhavish Aggarwal (@ bhash) 16311175300 00 Ola said customers will now be able to buy its scooters from September 15. The company began making pre-orders for its electric scooter on July 15 and claimed to have received over one lakh reserves in the first 24 hours.In an interrogation with ET last month, Aggarwal had said that all two-wheelers sold in the country by 2025 should be electric.On Monday, the company tied up with preceding banks and financial institutions, including HDFC Bank, ICICI Bank, Kotak Mahindra Prime and TATA Capital, to provide lends to buyers of its electric scooters.Other Top Stories We Are CoveringPandemic increased transformation to due representation in India, says Nutanix CEO: Nutanix chief executive Rajiv Ramaswami said the Covid-1 9 pandemic had increased a shift to its due simulation in India as purchasers focused on saving expenditures in the early days of the virus outbreak.Prativa Mohapatra becomes the first lady to lead Adobe India: Adobe Inc. has appointed Prativa Mohapatra as vice president and managing director for Adobe India, forming her the first maid to lead the world-wide software maker’s activities in the country.Cognizant seeks nod for $95 million settlement: IT services provider Cognizant has sought preliminary acceptance from a New Jersey district judge to settle a class action suit for $95 million and put to rest an alleged bribery event in India in which two of its former execs are allegedly involved.Global Selects We Are ReadingByteDance said to be in talks to borrow up to$ 3 billion( Reuters) How Facebook undermines privacy protections for its billion WhatsApp customers( ProPublica) Facebook questions British watchdog's authority to order Giphy sale( Reuters)

Read more: economictimes.indiatimes.com

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