(Bloomberg) — El Salvador’s Nayib Bukele, Latin America’s youngest president who’s known to break from the norms, said he plans to send legislation that would make Bitcoin legal tender in the country. “In the short term, this will generate jobs and help provide financial inclusion to thousands outside the formal economy,” Bukele said in a video broadcast at the Bitcoin 2021 conference in Miami. He said he would submit the legislature a bill next week. In a series of tweets, the… Source link

(Reuters) – Floyd Mayweather will give up nearly 35 pounds (16 kg) to YouTube personality Logan Paul when they step into the ring for their exhibition fight at Hard Rock Stadium in Miami on Sunday but that is the only thing the undefeated five weight division champion is conceding. The “ceremonial” weigh-in on Saturday produced no surprises with the 6 feet, 2 inches (1.88 m) Paul always going to have an advantage on the scales coming in at 189.5 lbs with the 5-foot, 8-inch (1.73 m) Mayweather… Source link

Everything that is great about heavyweight fighting and everything that is wrong with it was on display in the opening five minutes of the main event of UFC Vegas 28 on Saturday between Jairzinho Rozenstruik and Augusto Sakai. For more than four minutes at Apex, the two big men circled each other cautiously, their right hands cocked but rarely coming out of the holster. That was the bad part. But then, when Rozenstruik heard the clapper to signify 10 seconds were left in the round. He exploded… Source link

A controversial call at the end of the first half of Game 1 of the Brooklyn Nets versus Milwaukee Bucks Eastern Conference semifinal series resulted in a bad beat for some bettors. The first-half spread was Nets -2 over at BetMGM. And if you put money on the Nets covering the two points going into halftime, you were sitting pretty when they took an 11-point lead with 3:22 left in the second quarter. The lead for Brooklyn was eight points, 61-53, at the 1:57 mark and then seven points, 63-56,… Source link

Evgenia Parajanian / Getty Images/iStockphoto More and more support has been developing for a fourth — and possible fifth — stimulus check amongst members of Congress. See: $1,400 Stimulus May Be on the Way — This Time From Your StateFind: New Stimulus Perk Helps Pay for Your WiFi and Laptop In a new letter to President Joe Biden, seven members of the influential Ways and Means Committee have joined fellow members of Congress who support additional stimulus checks. It claims that that the… Source link

Surging usage of Polygon Network’s Ethereum layer 2 scaling solution allowed that platform’s token (MATIC) to largely escape the fate of other cryptocurrencies in May brought down by crash in the price of bitcoin. MATIC, currently ranked 18th as per market capitalization by Messari, rallied 120% in May even as bitcoin fell by 35%. Ether, polkadot, cardano, XRP, and decentralized finance (DeFi)-blue chips suffered bigger losses, pushing the total market capitalization of the crypto… Source link

(Bloomberg) — Index funds are supposed to cut out the human-driven craziness that periodically infects markets, but the recent meme-stock fever proved the $11 trillion industry is far from immune. The remarkable surge in shares of AMC Entertainment Holdings Inc. and a handful of other stocks is showing up in multiple exchange-traded funds, skewing portfolios, altering risk profiles and exerting outsized influence on prices. Take the $68 billion iShares Russell 2000 ETF (ticker IWM). In the… Source link

Google’s heavily rumoured upcoming foldable phone could use a Samsung-made display a new report has claimed. Not just any Samsung display, according to Korean publication ETNews, but one of the company’s most celebrated inventions – an Ultra Thin Glass (UTG) panel. For the uninitiated, UTG is essentially a razor thin piece of glass that can be flexed to a point without breaking. The idea is that it provides better, more study, tactile feedback than the plastic panels used in the… Source link

– By GF Value The stock of Yandex NV (NAS:YNDX, 30-year Financials) is believed to be modestly overvalued, according to GuruFocus Value calculation. GuruFocus Value is GuruFocus’ estimate of the fair value at which the stock should be traded. It is calculated based on the historical multiples that the stock has traded at, the past business growth and analyst estimates of future business performance. If the price of a stock is significantly above the GF Value Line, it is overvalued and its… Source link

Bloomberg China Tech Crackdown Cycle Nearing an End, Top Investor Says (Bloomberg) — Beijing’s antitrust crackdown on homegrown tech giants may be coming to an end, leaving stock valuations of some of the major firms at attractive levels.That’s the view of Hyomi Jie at Fidelity International Ltd., whose China consumer equity funds oversee $7.3 billion in assets. One has beaten 96% of peers in the past year. Hong Kong-based Jie sold some of her holdings in Alibaba Group Holding Ltd. and… Source link