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Dogecoin rallies on Elon Musk tweet, anticipated Coinbase itemizing

Yuriko Nakao | Getty Images News | Getty Images

Dogecoin rose more than 40% early Friday after a tweet from supporter Elon Musk and, as Coinbase said, it would list the meme-inspired cryptocurrency.

According to Coin Metrics, the price of Dogecoin rose to an intraday high of around 55 cents at 2:30 a.m.CET. It’s still down 18% from a record high of almost 67 cents a week ago.

Musk tweeted Thursday that he is working with Dogecoin developers to improve transaction efficiency.

On Wednesday, Tesla’s CEO surprisingly announced that his electric car company would no longer accept Bitcoin as a form of payment due to concerns about its environmental impact.

This resulted in a brutal sell-off of cryptocurrencies, including Dogecoin. Dogecoin had already fallen significantly after Musk’s appearance on Saturday Night Live, in which he described the digital coin as “hustle and bustle”.

Meanwhile, the crypto exchange platform Coinbase announced on Thursday that it would be offering Dogecoin support for the next six to eight weeks. Many crypto traders have chosen the zero-fee investment app Robinhood to trade with the meme token. Now Coinbase’s move could lead to more trading activity.

Dogecoin is not taken very seriously by loyal Bitcoin supporters. It started as a joke in 2013, inspired by the “Doge” meme, but has since found a growing online community. Dogecoin is now the fourth largest crypto by market value on CoinMarketCap, valued at over $ 69 billion.

Financial experts warn that Dogecoin is a highly speculative asset. It has fueled concerns about a possible bubble in the crypto markets – although some economists would say that all cryptocurrencies are in a bubble.

Last week, Bank of England Governor Andrew Bailey warned crypto investors “be ready to lose all your money,” reiterating a similar warning from the UK Financial Conduct Authority.

Bitcoin was marginally higher on Friday, with the world’s largest digital asset gaining about 0.3% at $ 49,052. Ether, the second largest cryptocurrency, rose 3.6% to $ 3,805.

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Business

Survey Says: By no means Tweet – The New York Instances

This often feels like a moral or ethical debate, sometimes played out in a cartoon on Twitter itself. But the question of how to get your readers to trust you is not really moral, in my opinion. It’s tactical and empirical. One reason reporters use social media is because of sources. Some reporters take information from sources by keeping their cards close to their chests. Others develop sources on social media by spreading their views and finding allies. But news talk about bias and trust strangely tends to leave the audience out. Last week, I persuaded an election bureau, Morning Consult, to ask Americans more or less about whether we should all shut up on social media.

The results were mixed. When asked directly whether “journalists have a responsibility to keep their opinion private on their personal social media as well”, a majority of respondents agreed with a margin of almost 2: 1.

However, the details of the survey of 3,423 people with an error rate of 2 percent reveal a deeper divide. Given the choice between two alternatives, 41 percent agreed: “I trust journalists more when they keep their political and social views a secret”, while 36 percent agreed to the contrary: “I trust journalists more when they are open and honest about their political and social views. “

The answers were not uniform across the groups. More of those who identified as blacks than those in other groups said they would trust journalists more if they knew what the journalists were thinking, while conservatives were more likely than liberals to trust journalists who keep their views private.

Other poll responses suggested that journalists might, just maybe, live on a Twitter-obsessed planet than ordinary people. When respondents showed a version of a tweet from Ms. Wolfe that was causing her Twitter trouble, the jumbled response made it clear that ordinary Americans had no idea what it was about.

Newsrooms could benefit from recognizing that some of the debates on Twitter have more to do with their own corporate identity and choices. Ms. Wolfe told me that while she thought the Times was unfair about her dismissal, she had no objection to the newspaper’s decision to have a social media policy. “The solution for me is not to work in a place where I have to pretend I don’t have an opinion,” she said.

The other, and perhaps more threatening, tension for the big newsrooms is that Mr. Carr discovered in 2012. Social media has shifted the balance of power in the same direction it has long moved in everything from entertainment to sports: away from management and big brands and towards the people who were once referred to as reporters but now sometimes as “Talent” are called. Reporters have every incentive to build great social media followers. It’s a route to television deals, book deals, job offers, and raises. And that can be in conflict with the wishes of your employer. (In case you’re interested, here are the Times reporters with over 500,000 Twitter followers: Maggie Haberman, Marc Stein, Andrew Ross Sorkin, Jenna Wortham, Peter Baker, and Nikole Hannah-Jones.)

Categories
Health

FDA says it hasn’t authorized Moderna Covid vaccine regardless of Trump tweet

US President Donald Trump gives a speech at an Operation Warp Speed ​​Vaccine Summit on December 8, 2020 at the White House in Washington, USA.

Tom Brenner | Reuters

The Food and Drug Administration has not yet approved Moderna’s coronavirus vaccine, contrary to a tweet from President Donald Trump on Friday that said the agency had “overwhelmingly approved” it and would distribute it immediately.

The FDA did not comment on Trump’s tweet, instead referring CNBC to a statement from FDA Commissioner Dr. Stephen Hahn said Thursday evening that the agency would “work quickly towards finalizing and issuing emergency clearance” for Moderna’s vaccine.

“The agency has also notified the US Centers for Disease Control, Prevention and Operation Warp Speed ​​so that they can implement their plans for a timely distribution of the vaccine,” Hahn said in a joint statement with Dr. Peter Marks, director of the FDA Center for Biologics Evaluation and Research.

The FDA statement on Thursday “is current,” FDA spokesman Michael Felberbaum told CNBC after Trump’s tweet.

It’s possible that Trump was referring to a vote by the FDA’s Advisory Committee on Vaccines and Related Biological Products Thursday, which voted 20-0, with one member abstaining to approve Moderna’s emergency vaccine advocate. The advisory board plays a key role in approving influenza and other vaccines in the US and verifying that the vaccinations are safe for public use. While the FDA does not need to follow the advisory board’s recommendation, it often does.

The FDA is expected to approve Moderna’s vaccine as early as Friday. The US plans to ship close to 6 million cans next week pending agency approval. This was announced by General Gustave Perna, who oversees the logistics for the Operation Warp Speed ​​vaccination project, to reporters on Monday.