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| August 15, 2018

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Call Made From Picnic Led to Charges for Rep. Chris Collins

August 8, 2018 |

GOP Rep. Chris Collins surrendered to federal agents in New York on Wednesday to face insider trading charges. CNBC quotes the Justice Department as saying the indictment is tied to “securities of Innate Immunotherapeutics … an Australian biotechnology company on whose board of directors Christopher Collins served.” The allegation is that…

CBS’ Moonves skirts explosive allegations, sticks to strong earnings on call with investors

August 3, 2018 |

Ignoring the swirl of sexual harassment allegations that threaten to end his long and successful career, CBS Chairman and Chief Executive Leslie Moonves was characteristically upbeat Thursday as he ticked off a list of his company’s financial achievements in a call with investors.

Interest in CBS’…

L.A. Times – Business

Homeless Man Hands Out Resume on Corner, 200 Companies Call

August 1, 2018 |

David Casarez, an engineer and web developer, moved from Texas to California’s Silicon Valley in the hopes of working in the tech industry. But when he used up all his savings and was still without a job, he found himself homeless, sleeping in parks and stairwells. That’s when he decided…

Rare victory: Ringleaders of ‘sickening’ IRS call scam are brought to justice

July 27, 2018 |

It seems like telemarketers and phone fraudsters operate with impunity, unconcerned about getting caught, particularly if they’re based overseas. That, I’m pleased to report, may be changing.

U.S. authorities recently announced that 21 ringleaders in California and seven other states have been…

L.A. Times – Business

The Conference Call That Shook Investor Faith in Facebook

July 26, 2018 |

Comments about revenue growth, monetizing Instagram Stories and the impact of new privacy laws during the earnings conference call hit Facebook’s shares. US Business


Donald Trump’s Secret Call with Michael Cohen About Karen McDougal Released

July 25, 2018 |

A taped conversation between Donald Trump and his former lawyer, Michael Cohen, discussing financial payments has been released … and this is going to get interesting. CNN just released an audio recording it obtained of the Prez talking…

10 Best Big US Cities to Call Home

July 23, 2018 |

Thinking of setting down roots and only a major metropolis will do? WalletHub took a close look at the 62 biggest cities in the US (those with at least 300,000 people) to see which ones offer the most attractive options, pitting the pros against the cons of urban living….


‘Rugrats’ Voice of Angelica Pickles Gets Call, Likely to Return for Reboot

July 18, 2018 |

Nickelodeon is rebooting “Rugrats” for a new generation of kids, and it sounds like the woman who played Angelica Pickles for years is coming back as well.  We spoke with voice actor Cheryl Chase – who voiced Angelica for over 9 seasons…

Hedge Fund Issues Bearish Call on Ethereum and Sides with BTC

July 18, 2018 |

Hedge Fund Issues Bearish Call on Ethereum and Sides with BTC

Hedge fund Tetras Capital has issued a bearish call on ethereum and opined that bitcoin has more upside potential. The New York-based fund has been blessed with perfect timing, with ETH falling in BTC terms following the publication of its report 24 hours ago, while bitcoin has rallied strongly.

Also read: Post-Flood Reflections Reveal Insights Into Lives of Sichuan Miners

Tetras Capital Gives Ethereum the Thumbs Down

Hedge Fund Issues Bearish Call on Ethereum and Sides with BTCSingle-handedly, no investment fund can commandeer the market and short a particular asset. But by issuing an unequivocally bearish call, it can capture the attention of other traders and attempt to convince them of its wisdom. Convert enough of them, and it might be sufficient to make the pessimistic prediction come true. That seems to have been the intention of Tetras Capital, who caught the headlines on Monday after publishing a “Bearish Thesis” on ethereum.

A blog post outlining the fund’s reasons for going short on ETH linked to a comprehensive 42-page report that detailed its case in forensic detail. Tetras Capital was hoping for headlines and its wish was quickly granted. Not only has the hedge fund’s proclamation gained traction, but so far, its call appears to be bearing fruit. Every single crypto asset in the top 100 has rallied in the last 24 hours, with bitcoin predictably leading the charge. Ethereum has slipped in BTC terms, however, dropping from around 0.072 at the time of Tetras Capital’s report to 0.0684 BTC at the time of publication.

Long on Bitcoin, Short on Ethereum

“Just as ETH benefited from irrational exuberance, it will inevitably suffer further as the market sobers up,” claims the hedge fund, before continuing:

We believe that ETH’s current price is still significantly overvalued; still significantly decoupled from the Ethereum network’s current and near-term technological state. Our research has led us to believe that the market and technology is still far too immature to justify current valuations. This nascent asset class has taken off due to speculative narratives, and we believe that the current marketplace is not sophisticated enough to properly evaluate risks or general economic concerns.

In setting its stall firmly in the anti-ETH camp, the New York hedge fund is going against the predictions of ethereum maximalists such as Coinbase CEO, Brian Armstrong, who is firmly in Team ETH. Even Vitalik Buterin has been forced to concede that ethereum has had its problems of late, noting that $ 15m has been wasted on gas recently due to network spam which has caused ETH fees to surpass those of BTC.

Making Bearish Predictions is Good for Publicity

Hedge Fund Issues Bearish Call on Ethereum and Sides with BTC
Bill Ackman

There’s a history of investors making very public calls to short particular assets, and in doing so going against the prevailing market sentiment at the time. Legendary hedge fund manager Bill Ackman, for example, tried shorting Herbalife for years, before eventually calling off his long-running campaign, at great expense to his wealth and reputation. Tetras Capital will be hoping for a greater ROI from shorting ethereum, be it literally or symbolically by putting the bulk of its assets into BTC instead.

The hedge fund’s bearish forecast finishes: “We believe the coming months will be extremely telling for Ethereum’s future. Network strain (from Dapp usage), competition (from alternative Dapp platforms), and regulation (towards ICOs) will test the speculative hype and price of ETH.”

Do you think Tetras Capital is right to be bearish on ethereum? Let us know in the comments section below.

Images courtesy of Shutterstock, and Tetras Capital.

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The post Hedge Fund Issues Bearish Call on Ethereum and Sides with BTC appeared first on Bitcoin News.

Bitcoin News

Climber Makes Phone Call: I’m Committing Suicide

July 15, 2018 |

A mountain climber who called authorities threatening to commit suicide was saved Friday in a hair-raising helicopter rescue, the Statesman Journal reports. The Oregon Army National Guard lowered six rescuers to the summit of Mount Hood—with only rear wheels touching and a plank used to reach the climber, Oregon…