Categories
Politics

CDC Says Delta Variant Makes Up an Estimated 83 % of US Circumstances

The highly infectious Delta variant now accounts for an estimated 83 percent of new coronavirus cases in the United States — a “dramatic increase” from early July, when it crossed the 50 percent threshold to become the dominant variant in this country, the director of the Centers for Disease Control and Prevention said Tuesday.

In some regions, the percentage is even higher — particularly where vaccination rates are low, Dr. Rochelle Walensky, the C.D.C. director, said during a Senate health committee hearing. Two-dose vaccines have been shown to be effective against the Delta variant but questions have been raised about Johnson & Johnson’s single-dose regimen against Delta. While almost 60 percent of U.S. adults are fully vaccinated, less than half of the total U.S. population is.

She said the C.D.C. would update its website later Tuesday to reflect the new estimate of Delta cases, which the agency derives from gene sequencing of new coronavirus cases.

The new figure comes as new cases have been rising across the United States, though cases, hospitalizations and deaths remain a fraction of their peaks. Still, public health experts are watching the increases with deep concern and Dr. Walensky warned last week that “this is becoming a pandemic of the unvaccinated.” The seven-day average now shows nearly 38,000 new daily cases, up from about 11,000 a day not long ago, according to a New York Times database.

Tuesday’s hearing was contentious at times. Senator Mitt Romney, Republican of Utah, pressed Dr. Janet Woodcock, the acting commissioner of the Food and Drug Administration, on when the F.D.A. would authorize booster shots — and was not happy when she could not provide a specific answer. Federal health officials have said booster shots are not necessary now and have pressed Pfizer for more evidence.

Other Republicans clashed with witnesses over matters including mask mandates, booster shots for Covid-19 vaccines and “gain of function” research designed to identify genetic mutations that could make a virus more powerful.

Senator Rand Paul, Republican of Kentucky, escalated his long-running attacks on Dr. Anthony S. Fauci, President Biden’s top medical adviser for the coronavirus pandemic, and accused Dr. Fauci of committing a crime by lying to Congress in May when he told senators that the National Institutes of Health did not fund “gain of function” research at a laboratory in Wuhan, China, the epicenter of the pandemic’s early days.

Dr. Fauci, in turn, accused the senator of falsely implying that the N.I.H. is somehow responsible for hundreds of thousands of deaths from the pandemic — an extraordinary exchange for the Senate, where witnesses almost always defer to lawmakers.

“I have never lied before Congress and I do not retract that statement,” Dr. Fauci declared, adding, “Senator Paul, you do not know what you are talking about, quite frankly, and I want to say that officially.”

Categories
World News

Coinbase studies estimated Q1 income of $1.eight billion, up nine-fold

In preparation for its debut on Nasdaq next week, the cryptocurrency exchange Coinbase announced on Tuesday that sales in the first quarter had increased nine-fold over the previous year, due to a historic price increase for Bitcoin.

Revenue in the reporting period rose from $ 190.6 million in the year-ago quarter to around $ 1.8 billion, Coinbase said in a press release. The results are preliminary and unchecked. Net income increased from $ 31.9 million a year ago to $ 730 million to $ 800 million. Coinbase has 56 million verified users.

Coinbase is poised to become the latest tech company to hit the market with a massive valuation, capitalizing on the continued growth of the sector despite general economic troubles due to the coronavirus pandemic. Trading in the private market valued the company at $ 68 billion, a number that climbs to about $ 100 billion considering a fully diluted stock count.

In the past seven months, the software provider Snowflake, the food delivery app DoorDash, the room sharing website Airbnb and the games platform Roblox went public. Their market capitalization is currently between $ 40 billion and $ 113 billion.

Coinbase is unique in that its rating upgrade reflects the trajectory of the top cryptocurrencies. Bitcoin is up about 700% over the past year, while Ethereum is up more than 1,100%.

Bitcoin and Ethereum last year

CNBC

Coinbase announced last week that the SEC approved the direct listing, which is scheduled for April 14th. The company has announced that it will register nearly 115 million Class A common shares trading under the ticker symbol COIN. In the case of direct listing, the issuing company waives the sale of new shares and instead allows existing stakeholders to sell their shares to new investors.

While Coinbase today relies heavily on attracting users who store and trade the two major cryptocurrencies, the company is betting on developing a larger ecosystem of crypto-related assets in the years to come.

“We expect significant growth in 2021, driven by transaction and custody revenues, as institutional interest in the crypto asset class has increased,” the company said in the press release.

In the first quarter, Coinbase said it had 6.1 million monthly transaction users (MTUs). Looking at the year as a whole, three possible scenarios for revenue are identified, as much of the business comes from these transactions.

Rising market values ​​could result in MTUs of 7 million, Coinbase’s most aggressive estimate. In the middle range, MTUs would land at 5.5 million in a flat crypto market. And the most conservative forecast in the event of a price drop is 4 million MTUs.

– MacKenzie Sigalos from CNBC contributed to this report.

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