Facebook bans all crypto-currency ads

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Facebook has said it will block any advertising promoting crypto-currency products and services. The company said it was open to emerging technologies but many companies were not acting in “good faith” when extolling the virtues buying into virtual currencies. Recently, a wave of new currencies have emerged, seeking to piggyback Bitcoin’s huge increase in value. Facebook urged users to report any ads the company’s security measures missed. It admitted it would not always catch every ad for a crypto-currency. “We want people to continue to discover and learn about new…

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Tesla responds to Model 3 production issues

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Well-known are Tesla’s Model 3 EV delays, including in the company’s own earnings report and quarterly delivery numbers. A fresh report from CNBC on Thursday claimed that Model 3 production was even more delayed than it appeared, with specific continued issues around battery manufacturing. CNBC also suggested that the company is “not close” to mass-production of the batteries required for its $35,000 trim level Model 3. Tesla initially responded to the news outlet pointing them to prior comments made by Tesla CEO Elon Musk and CTO JB Straubel regarding its current…

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Stripe’s Ditch of Bitcoin Calls for Rethink of what the Cryptocurrency is good for!

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Stripe has announced that it’s dropping support for Bitcoin-based transactions on its payments platform, citing high transaction confirmation times and numerous failures, as well as fees that are now as expensive as bank wires. That’s a huge blow to the cryptocurrency, not just because it’ll see fewer transactions, but also because it’s a sign that companies and consumers are growing disinterested in using Bitcoin to pay for things. Valued at $9 billion, Stripe is a major payments service provider in 25 countries, and the company claims to process billions of…

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Cryptocurrency boom prompts graphics card rationing

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Booming interest in crypto-currencies has been blamed for pushing up the prices of graphics cards. The cards are popular because they speed up the process of minting or “mining” crypto-coins. Keen miners are buying graphics cards in large quantities and running them in parallel to boost their coin-producing efforts. Their actions have led some makers and sellers of graphics cards to limit how many people can buy at any time. Writing on PC Gamer, Jarred Walton said: “Right now is the worst time in the history of graphics cards to…

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Hackers breach National Bank systems making off with Ksh 29m

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Hackers have breached the National Bank of Kenya systems making away with Ksh 29 million. Confirming the incident through a statement on their twitter handle, @National_Bank,  National Bank confirmed the incident stating that indeed there was an attempt fraud in normal course of business on 17th January but the bank’s monitoring and security resources frustrated the attempt “The amount of attempted fraud is about Ksh 29 million and we are confident we will recover most of that money,” read the statement. The bank also confirmed that security are in pursuit…

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Bitcoin and Ethereum hit by massive decline, Other cryptocurrencies dropped even worse

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Most major digital currencies sold off sharply on Tuesday, but the declines in bitcoin, ethereum and litecoin prices weren’t as bad as much of the rest of the market.  Bitcoin was down 17 percent at that time, ethereum was down 19 percent and litecoin was down 19 percent, according to the same site. The declines followed speculation in the market about what regulators in Asia may be planning for digital tokens. On Monday, a report from Bloomberg, citing unnamed sources, said Beijing plans to block domestic access to Chinese and…

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Uber used undercover agents, court letter says

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It is critical evidence in Uber’s legal battle with Waymo, the self-driving car company that accuses the ride-sharing firm of stealing its technology. The letter, sent by lawyers representing a former Uber employee, sparked an internal investigation when it was sent to Uber in May, but has not been made public until now. In a statement, Uber said: “While we haven’t substantiated all the claims in this letter – and, importantly, any related to Waymo – our new leadership has made clear that going forward we will compete honestly and…

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Apple ‘to buy Shazam for $400m

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Apple is close to buying the music recognition app Shazam for about $400m (£300m), media reports say. Shazam, a UK company founded in 1999, allows people to use their smartphone or computer to identify and buy music through a snippet of sound. Shazam, which says it has more than 100 million monthly users, makes most of its revenue from commissions paid on referrals to Apple’s iTunes Store. Neither Apple nor Shazam have commented on the reports on the TechCrunch site. If the deal is confirmed, the music identifying App will…

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DotConnectAfrica founder, Sophia Bekele, wins monumental court case against National Bank of Ethiopia

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Photo: DCA Founder and CEO Sophia Bekele speaking during the African Women’s Forum Special Program, Crans Montana Forum, #CMF17 Barcelona (Spain). Sophia Bekele, an Ethiopian native with American nationality has won a milestone legal battle against Ethiopia’s Central Bank – that is the National Bank of Ethiopia – whose decision led her to lose shares she inherited from her late father, the Founder of both United Bank and United Insurance,  at an undervalued rate at both institutions. Ms. Bekele, a global entrepreneur and the CEO of DotConnectAfrica (DCA) Group – one…

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SEC’s new cyber unit takes its first action to halt an initial coin offering ‘scam by PlexCorp

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The Securities and Exchange Commission has charged Canadian crypto company PlexCorp with violating securities laws by selling up to $15 million in an initial coin offering (ICO). ICOs have seen explosive growth over the past year as fledgling companies have used them to raise more than $3 billion in capital through various cryptocurrencies. However, experts have warned they can present several dangers to unsuspecting investors hoping to get into a hot new market as regulations are pretty loose. Called PlexCoins, PlexCorp allegedly used this cryptocurrency to scam would-be investors hoping…

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