Markets News Stocks 

A ‘tug-of-war’ is pulling the stock market in 2 distinct directions — and how investors combat it will determine whether they survive the next meltdown

“While global stocks have gained 11% this year, $46 billion has been pulled from equity funds, according to Bank of America Merrill Lynch” writes Akin Oyedele for businessinsider.com. This risk helps explain why some investors have stood on the sidelines of this rally, and even pulled money from equity funds.According to Alain Bokobza — Societe Generale’s head of global asset allocation and equity strategy — investors must posture for the ongoing “tug-of-war” between the bullish and bearish forces pulling on the stock market.Several investors have kept their enthusiasm tempered even…

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News 

Hedge funds are watching a key lawsuit involving LinkedIn to see if they can spend billions on web-scraped data

“See more: Hedge funds are spending billions to get an edge through access to satellite images and credit-card transactions” writes Bradley Saacks for businessinsider.com. The internet is crawling with bots, and many of them belong to hedge funds.But a lawsuit involving LinkedIn could change what funds are legally allowed to collect.He warned against overreliance on web-scraping data that wasn’t properly filtered. Source: businessinsider.com

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Crypto News 

Late QuadrigaCX CEO Used Personal Money to Fund the Exchange

“The exchange recently transferred a significant amount of its crypto holdings to Ernst and Young, the court-appointed monitor of the crypto exchange, obeying the court orders” writes Arnab Shome for financemagnates.com. The deceased CEO of QuadrigaCX, Gerry Cotten, had used his personal funds to keep the exchange afloat while it was in a litigation process with a Canadian bank, revealed his wife.However, in the court, the troubled crypto exchange argued that there are no competing claims made for the frozen funds and it was mistakenly frozen by the banks.Later, a Canadian…

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QuadrigaCX CEO Used Personal Money to Fund Exchange During Litigation With Bank in 2018

“The late founder of Canadian crypto exchange QuadrigaCX, Gerry Cotten, was purportedly funding the exchange with his own money while it was in litigation with a major Canadian bank” writes Ana Alexandre for cointelegraph.com. In the recent statement, Robertson also revealed that the legal firm currently representing the exchange will cease its association with Quadriga CX, apparently due to a conflict of interest.After $145 million in crypto assets went missing following Cotten’s death, Robertson provided interim financing for legal proceedings.Cotten’s widow Jennifer Robertson revealed details about the exchange’s financial situation…

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Federal court upholds law on Planned Parenthood funding

“A federal appeals court on Tuesday upheld an Ohio law that restricts government funding of Planned Parenthood and other abortion providers” reports washingtonexaminer.com. In an 11-6 ruling, the full 6th U.S. Circuit Court of Appeals reversed a ruling from the lower court and ruled against two Planned Parenthood affiliates that challenged the law.Leana Wen, president of Planned Parenthood, said the appeals court’s ruling will hurt women’s and children’s health.In reversing the lower court’s ruling, the appeals court said that while the law does impose a condition on receipt of government…

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Ocasio-Cortez’s misleading complaint: Trump did not transfer funds for the opioid emergency

“After the declaration, Congress appropriated more than $6 billion to combat the opioid crisis, including $4.4 billion in the fiscal 2019 spending bill” writes The Fact Checker for washingtonpost.com. But Congress acted to give the administration more than $6 billion for the opioid crisis, so there was little need for him to transfer funds without congressional authorization. Source: washingtonpost.com

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Worried about next downturn? U.S. credit funds may offer early clues

“His reasons: A lot of money has flowed into private credit, pushing down lending standards in a benign economy” writes Midwest Communications Inc for 95kqds.com. “You can learn a lot by looking at the BDCs for what they might mean for other private credit,” said Carroll of S&P Global Ratings.Much of it now resides in non-bank financial entities, including commercial loan companies, such as CM Finance, private credit funds, and structured finance vehicles, many of which have yet to be tested by a broad recession after a nearly decade-long expansion.It…

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Crypto News 

Bitcoin Private Team Accuses Crypto Exchange HitBTC of Fraud After Delisting

“Bitcoin Private (BTCP) developers have accused cryptocurrency exchange HitBTC of acting in a fraudulent manner in regards to their delisting from the exchange following a planned coinburn” writes Adrian Zmudzinski for cointelegraph.com. Instead, the document alleges that HitBTC secretly held 58,920 BTCP in a BTCP Segwit wallet, and the concerns over the coinburn were related to the exchange’s personal funds. Source: cointelegraph.com

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Would ‘every small dollar donated’ be matched 6 to 1 under the House Democratic plan?

“Not to build roads or bridges but to add 600 percent of taxpayer money to every small dollar donated by Americans” writes The Fact Checker for washingtonpost.com. Courtney Parella, a spokeswoman for Republicans on the House Administration Committee, noted that Davis would still raise $1 million from the matching funds if he qualified.Both McCarthy and Davis also claimed that the matching funds were taxpayer money.As for whether taxpayer money would be involved, that’s not the current structure of the bill.He misleadingly suggests that every small-dollar donation would be matched, but…

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