The price of Bitcoin (BTC) and Ethereums Ether (ETH) plunged by 13% and 21%, respectively, within minutes on Aug. 2. The move liquidated more than $1 billion worth of futures contracts as BTC/USD dropped from around $12,000 to as low as $10,550.
BTC/USD 1-hour chart. Source: Tradingview
There appear to be two main reasons behind the sudden cascade of liquidations. First, the volume in the cryptocurrency market tends to drop during weekends. Second, the market was heavily swayed to longs or buy…
Black-Owned Businesses Hit Harder by Virus Crisis: Live Updates – The New York Times
LiveUpdated Aug. 4, 2020, 12:50 p.m. ET
Aug. 4, 2020, 12:50 p.m. ET
Heres what you need to know:
Black-owned businesses have been hit particularly hard by the pandemic and the resulting economic crisis, a new study by the Federal Reserve found, underlining how minority communities have borne a disproportionate cost of the virus.
The analysis, from the Federal Reserve Bank of New York, shows that Black-owned businesses are heavily concentrated in areas that were hard-hit by the outbreak. And …
This is it: Gordon Murray’s astonishing £2.36m T.50 – Top Gear
The 963kg, 663bhp three-seater aims to right the wrongs of the McLaren F1
Meet the hypercar that does things differently. It doesnt produce much downforce. It doesnt care about 0-60mph times or top speeds. Power figures are the least impressive thing about the engine. Its not very big, and its not particularly striking to look at.
Everything else about it is absolutely astonishing, though. This is the £2.36 million (plus local taxes) GMD T.50. Gordon Murray Design. Yes, the man who gave us the McLaren F1 is now righting that cars wrongs. Because there were some appar…
Boeing supplier Spirit slides as pandemic brings pain beyond the 737 Max – CNBC
A key Boeing supplier is facing pain beyond the 737 Max as demand for other planes slips because of the pandemic.
Shares of Spirit Aerosystems fell more than 3% Tuesday after the key Boeing supplier swung to a loss and detailed trouble ahead because of the coronavirus pandemic’s impact on jetliner demand.
The Wichita, Kansas-based producer of fuselages and other aircraft parts swung to a $256 million loss in the second quarter from a $168 million profit a year earlier. The company has been challenged since the March 2019 grounding of the 737 Max after two fatal crashes. On Friday, Spirit said it was cuttin…
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