Bitcoin (CRYPTO: BTC) and other cryptocurrencies “are not legal tenders and have no actual value support,” according to Deputy Director of the Financial Consumer Rights Protection Bureau of the People’s Bank of China (PBoC) Yin Youping. What Happened: According to a report by local news outlet People’s Daily Online, Youping said that cryptocurrencies are purely speculative assets. He also advised the public to increase its risk awareness and stay away from the crypto market to “protect… Source link

Despite pulling back a bit from its all-time high earlier this year, ethereum (ETH-USD) still has a shot to hit $10,000 by year’s end, according to one analyst who has been right so far this year.  Magnetic Managing Director Megan Kaspar, who called ether’s tripling to top $3,000 back when it was still closer to $1,000 in January, told Yahoo Finance Friday that the second-largest cryptocurrency by market cap could still hit her $8,000 to $10,000 price target in 2021. “Investors are still… Source link

Lawyers on Tuesday are scheduled to begin selecting a jury for the trial to decide the fate of one of Silicon Valley’s most lambasted entrepreneurs, former Theranos CEO Elizabeth Holmes. But it’s not just Holmes who’s on trial — the case could expose the region’s startup business culture to new criticism. Holmes, 37, once proclaimed the youngest female self-made billionaire — and featured in Yahoo Finance’s new original documentary “Valley of Hype,” available to stream at 5 p.m. on… Source link

Yahoo is out with its latest update for its Mail app for iPhone and iPad this week and the release brings the handy addition of M1 Mac support for a seamless and speedy experience. Yahoo announced the news in a press release detailing version 6.36 of the Yahoo Mail app offering the M1 Mac support. Here are some of the features available with the app landing on Apple Silicon Macs: The Yahoo Mail app is now available for M1-powered Macs! It’s the best way to experience email on Mac,… Source link

Patrick Harker, president of the Federal Reserve Bank of Philadelphia, joined Yahoo Finance on the virtual sidelines of the annual Jackson Hole symposium to discuss the impact of the Delta variant on the U.S. economy and how the Federal Reserve is responding. Below is a transcript of his appearance on Yahoo Finance Live on August 27. – BRIAN CHEUNG: Welcome back to Yahoo Finance Live! Obviously all eyes are on that Jackson Hole Economic Symposium being held, virtually this year, but we’re going… Source link

Investors aren’t too happy Peloton (PTON) is slashing the price of its entry-level connected bike for the second time in under a year, which will weigh harshly on the bottom line over the next 12 months.  But from Peloton’s perspective, it was all part of the plan even if investors didn’t realize it.  “If you look back over the last several years, we have always had the aim of making our products more accessible. We introduced 0% APR financing four years ago. We introduced a 30-day free home… Source link

Support.com (SPRT) has become the new “meme stock” retail traders are pushing to the moon. Shares of the LA based software company closed 33% higher, at $26.33 on Friday. The stock skyrocketed more than 190% earlier in the session and was the No. 1 trending ticker on Yahoo Finance.  ‘The squeeze will continue and accelerate’ The stock caught the attention of retail traders last month based on its high short interest, which currently accounts for about 60% of the float. “Shares shorted were… Source link

(Bloomberg) — The social-media mob scored another direct hit, this time with a little-known software company that Wall Street started betting against. Support.com Inc. shares skyrocketed on Friday, adding to this week’s triple-digit rally as day traders touted the Los Angeles-based company, whose platform helps companies manage technical and customer support. The shares surged as much as 132%, climbing to the highest since 2004. Support.com was among the most mentioned companies in… Source link

[unable to retrieve full-text content]Yandex Verticals Q2 2021: revenue doubled  AIM Group Source link

Almost a decade before the world finally realized how tedious April Fool’s Day pranks are, Google revealed a farcical 8-bit port of Google Maps for the iconic Nintendo Entertainment System. The prank was quickly forgotten, but not by one maker, who, nine years later, has made the NES version of Google Maps a reality. Although Google did provide an online demo at the time, a promised fully functional NES cartridge version of the mapping service was never meant to be (nor was the Game Boy… Source link