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Soft Bank comes out of its share of the giant NVIDIA



Soft Bank comes out of its share of the giant NVIDIA

The Japanese bank, SoftBank Groups, has sold its entire stake in the US chip manufacturer Nvidia.

The announcement, which was made on Wednesday, together with the results of the company’s profits and losses, is the result of a decision made at the beginning of December 2018 as a result of the recession of the technological actions that occurred in the last quarter of the US giant.

Soft Bank Group built a so-called ‘collar trade’ of around $ 6 billion, which allowed Japanese investors to accumulate shares and protect against a fall in Nvidia share prices, according to sources of the investor group.

Masayoshi Son, SoftBank’s founding CEO, said that The Vision Fund had also sold its entire stake in Nvidia in January. Said fund of $ 100 billion of the group, launched at the end of 2016 with the support of Saudi Arabia that had allowed it to have shares in almost all major technology companies such as Uber and Slack to name a few.

Soft Bank recorded a year by year increase of 60% in operating profit over the last three months of the past year, approximately $ 3.99 billion and the earnings of the Fund Vision tripled.

The collar trade strategy allowed the group to raise its net profits from April to December 2018, surpassing other Japanese giants such as Toyota Motor, Japan’s largest automaker.

The outbreak of Nvidia’s SoftBank seems like a blow to investors, although the investor group only had a 4.9% stake in the chip maker; it may be the symptom of the recovery of Nvidia still aesthetic for a while given that the bear market of cryptocurrencies and the tense political situation between China and the US.

However, with a volatile market like the current one and a prolonged bear market spread over more than 365 days, this type of news could affect the crypto-market a bit more.

The reason lies in the fact that Nvidia together with AMD is the largest suppliers of specialized graphics cards (GPU) frequently used by professional players and cryptocurrency miners.

According to a Market Insider analysis, Nividia during the spring of cryptocurrency mining between the last quarter of 2017 and the first quarter of 2018 had a market share of 75% of the GPU sold with mining fines, while the company’s IT AMD controlled the rest.

Already last year, Nvidia, as of the second quarter of 2018, had been reporting fall in the prices of its shares, product of the technological recession due to the trade war between China and the US, mainly combining to weaker demand for mining cryptocurrencies that does not allow achieving greater margins of profitability in mining.

Nvidia has seen the price of its shares fall in the last quarter of last year, as a result of a reduction in revenues and overestimation of the same as said CEO Nivida, Jensen Huang.However, as indicated in a recent analysis of RBC Capital Markets, NVIDIA generated more money than was declared for cryptos and Blockchain.

In November 2018, Nvidia already posted fourth quarter prospects below expectations, affected by weakness in its gaming division and the persistent loss of demand for the collapse of crypto mining. Even Goldman Sachs and Wall Street caused cuts in their stock prices because their bullish view had been “clearly wrong”.

At the time of writing, Nvidia presents a quotation of $ 151.75and still above the current consensus target of $ 227.18 foreseen for the 52 week trading range between $ 124 and $ 292.


Cardano’s Charles Hoskinson wants to work with Elon Musk to develop a decentralized social media platform



Cardano's Charles Hoskinson wants to work with Elon Musk to develop a Decentralized social media platform

The Founder of Cardano (ADA) has invited Tesla owner and billionaire, Elon Musk, to work with him in developing the first decentralized social media platform. Charles Hoskinson, who also doubles up as the CEO of Input-Output Global is offering to help Elon Musk achieve his goal of free speech on social media.

The news follows Elon Musk’s acquisition of a stake in Twitter last week. The Billionaire bought 9.2% of Twitter, estimated at $2.89 Billion, and was even offered a seat on the micro-blogging site’s board. However, after deliberations, Elon passed on the offer since it would bar him from owning beyond a certain threshold of Twitter’s shares.

Free speech advocate

Elon Musk is on record for being a passionate supporter of free speech and open internet policies. He has in the past openly accused Twitter of muzzling free speech and open internet use. He recently held a poll that indicated that most users would prefer an edit button on Twitter and said that if he is not allowed to acquire the platform, he would have to reconsider his position as a major shareholder of Twitter.

To actualize this cause, he has offered to acquire the platform for a reported fee of $43 Billion in cash. This intended acquisition has left his critics and supporters talking and would go a long way in helping him bring much-needed changes to Twitter. His intention has however come under fire with his critics, including Dogecoin co-founder, Jackson Palmer saying that Elon Musk is planning a hostile takeover of Twitter. 

Hoskinson’s offer to Elon Musk

Upon seeing the opposition against Elon Musk’s plan, Hoskinson wooed Elon to join him in creating a decentralized social media platform. He tweeted:

“@Elon if Twitter rejects your offer, then hit me up. Happy to build a decentralized one.”

This offer follows Elon Musk’s Twitter poll where he sought the opinion of his 80 million followers about a decentralized social media platform. He posited that were he to be barred from acquiring Twitter, he would establish his decentralized platform that would be founded on free speech and open internet.

Elon Musk’s campaign for free speech and open internet has not been welcomed by all. Some of his critics have argued that coating his move with good intentions, his true intention is to get revenge against the SEC for muzzling his Twitter activities.

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Thailand Outlaws The Use Of Crypto For Payments



Thailand Outlaws The Use Of Crypto For Payments
  • The SEC in Thailand has banned crypto payments in the country.
  • Its new decision is expected to become enforceable in April.
  • The SEC reiterated that the government still maintained support for the blockchain industry, clarifying that the decision does not affect crypto investments.

The Securities Exchange Commission today has placed restrictions on crypto as a means of payment. They believe that it poses risks to the nation’s financial stability.

Crypto Payments Outlawed

Thailand’s SEC today has outlawed the use of crypto as a medium of exchange in the country. The regulators came up with this decision after discussing the benefits and inherent risks from crypto and blockchain technology with the country’s central bank, the Bank of Thailand (BOT).

They concluded that the use of cryptocurrencies for payment was potentially harmful to the country’s financial stability and economy. Price volatility, risks of theft, and potential use cases in money laundering were amongst the reasons cited by the SEC that led them to this decision.

The SEC report read, “the use of digital assets as a medium for payment of goods and services Because it may affect the stability of the financial system and the overall economy. including risks to people and businesses such as the risk of loss of value caused by price volatility Risk of Cyber ​​Theft Risk of personal data leakage or being used as a tool of money laundering.”

As per the SEC’s new decision, crypto service providers and vendors or merchants in the country are encouraged to stop providing or facilitating such services. Suppose a crypto service provider discovers that a customer has used its services to make payments. In that case, the service providers are to inform the SEC and restrict activities on the said account.

The SEC’s new ruling is to take effect from the 1st of April. However, businesses that already offer such services would be given till the end of April to cease such operations. The crypto market in Thailand has grown massively over the last couple of years. As per a Bloomberg report, government data estimates that Thai citizens hold about $3.4 billion in crypto assets.

Crypto Investments Not Affected As The Thai Government Still Supports Blockchain Technology Innovation

The SEC in their release, clarified that the restriction was only on using cryptocurrency as a means of payment and in no way affected citizens investing in crypto. It was stated that “digital asset traders/investors can carry out normal investment/trading related transactions.”

The SEC also maintained that the government still supported blockchain technology and was working to provide a regulatory environment where innovation can be encouraged in the industry. Recall that earlier this month, the country had offered tax incentives to investors and businesses in the crypto industry.

“… the BOT and the SEC, as well as other government agencies, see the benefits of various technologies behind digital assets such as  blockchain and emphasize and support the use of technology to further innovation.”

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