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Mark Zuckerberg Sold FB Stocks Every Week This Year
The Securities and Exchange Commission filings show that Mark Zuckerberg, the founder & CEO of Facebook, has been on the FB Stock selling spree since November 9, 2020.
Before that, Mark did not sell any of his Facebook stocks for a year.
Over the past eight months till this Wednesday, Zuckerberg has sold 9.4 million shares worth $2.8 billion.
Are you wondering why Zuckerberg sold $2.8 billion worth of FB stocks over the last couple of months? Well, it was majorly for philanthropic reasons.
After all, 90% of FB stocks sold by Zuckerberg in the last eight months were by the Chan Zuckerberg Initiative (CZI), his philanthropic and advocacy organization.
So does it mean that Zuckerberg got nothing from his FB stock selling spree? He did!
Zuckerberg pocketed a comparatively smaller portion of the money he made by selling stocks, $200 million to be specific.
As he has been selling his share of FB stocks regularly, Zuckerberg’s stake in Facebook has come down drastically.
Currently, he owns a 14% stake in Facebook, whereas, during the time of Facebook’s IPO, his stake in Facebook was 28%.
Zuckerberg has sold over 132 million Facebook shares from the time Facebook went public in May 2012, worth $15 billion in total.
Twitter User Will Soon be Able to Control Who can Reply to Their Tweets After Posting
If you are a Twitter user, you will surely be delighted to know that pretty soon, you will have control over who can reply to your tweet after you have already posted.
The social media giant announced on Tuesday that it is rolling out this feature soon.
It is important to note here that it’s not as if you do not already control who can respond to your tweets.
Twitter has already rolled out this feature in August this year, but a user had to select preferences before posting the tweets. There was no option to change the preference after posting a tweet.
The new update changes this, as you can now select who can reply to your tweet even after posting.
As for who can access this feature, Twitter announced that they are rolling out this feature globally.
All Twitter users on iOS, Android, and the web would be able to access this feature.
Cardless Raises $40 Million to Assist Brands in Launching Branded Credit Cards
There is no denying that consumers love to rack up credit card points.
They use them for traveling later.
But there is more to credit cards than that. Imagine credit cardholders can use their credit cards to have a virtual conversation with their favorite athlete!
Wouldn’t that be a dream come true? But is it possible? Well, that is where Cardless comes into the picture.
Cardless has already inked three digital programs with Florida-based Major League Baseball team, Miami Marlins, NBA’s Cleveland Cavaliers, and Manchester United, a popular British soccer team.
Recently, Cardless raised $40 million in Activant Capital led Series B funding.
With this funding round, Cardless has raised a total of $50 million since launching in 2019.
So what exactly does Cardless do? It makes it easy for brands to launch their custom co-branded credit cards.
Cardless aims to give a modern twist to age-old co-branded credit card programs.
It’s about time some company changed the co-branded credit card concept.
After all, there are 200 companies in this space, and yet, only one of them was founded within the last two decades, says Michael Spelfogel, co-founder and president of Cardless.
Brazilian Regulators Gave Green Light to Ether ETF!
Comissão de Valores Mobiliários (CVM), Brazil’s Securities regulator, approved the country’s first Ether exchange-traded fund.
The Ether ETF will trade on the B3 stock exchange, one of the leading regional exchanges having customers worldwide. Its ticker symbol is QETH11.
The custodial services for QETH11 will be provided by Gemini.
The Fund’s issuer, QR Asset Management, pitched its Ether ETF as “a simple, safe and regulated option for any investor to gain direct exposure to Ethereum through their preferred brokerage, without worrying about registrations in exchanges, wallets or private keys.”
With Wholesale Inflation Surging 7.3% in June Compared to Last Year, Experts Worry the Situation may Worsen Ahead
The Wholesale prices in June turned out to be more than what anyone expected.
It shows that inflation is on an upward trajectory at a pace faster than previously anticipated.
The producer price index in June was 1% up compared to May.
On a year-over-year basis, the jump was 7.3%.
Here, the producer price index refers to what companies get in return for producing goods.
Dow Jones, on the other hand, expected that there will be a 0.6% monthly increase in the producer price index after surveying many economists.
If I leave aside PPI for volatile segments like energy, food, and trade, the core PPI comes down to 0.5%, which is within the estimates.
YouTube Adds Three New Twitch-Like Streaming Features
More good news is on the way for YouTube users. The platform is adding three new features for its live-streaming community.
The first feature is for limiting the chats to subscribers only. The second one will allow them to create polls inside of their chats.
Leveraging the third feature, the streamers and their viewers will create clips from popular gaming streams.
As far as the third feature is concerned, for now, it will only be available for gaming creators who have more than 1,000 followers. However, YouTube has plans to roll out the feature to everyone in the future.
To put YouTube’s streaming capability enhancements in context, YouTube Gaming has been expanding its market share in the live-streaming domain.
The latest data suggests that YouTube had nearly 25% of the market at the end of 2020, measured in terms of watch-hours. However, Twitch still leads the market with around two-thirds of the viewership, and YouTube still has a long way to catch up.
Bezos’ Space Tourism Company Gets Approval from FAA
Blue Origin, the space tourism company founded by former Amazon CEO Jeff Bezos, has received clearance from the Federal Aviation Administration.
With this approval, the company now qualifies to carry passengers to space on its spacecraft, the New Shephard. The first flight of the spacecraft will take place on July 20th.
As passengers, it will include Bezos himself, his brother Mark Bezos, the iconic aviator Wally Funk, and a passenger who has bought their ticket for a whopping price of $28 million. Blue Origin has not yet declared the passenger’s name.
The spacecraft will travel more than 100 Km beyond the Karman line. It is the height where space begins.
Once the spacecraft reaches its fullest height, the passenger cabins will detach from the rocket. Subsequently, the passengers will be experiencing zero gravity before they start coming downwards.
The other company to receive FAA clearance before Bezos’ Blue Origin was another billionaire founder Richard Branson’s Virgin Galactic.
Boosted by Retail Sales, China’s GDP Grows 7.9%
Although it remained slightly below what was expected, China’s GDP experienced a 7.9% year-on-year growth in Q2 2021. However, according to market analysts, this quantum of growth is in line with China’s annual growth goal of 6%.
The growth also seems promising when seen in comparison with the last quarter. Between Q4 2020 and Q1 2021, China’s economy had grown by 0.6%, whereas between Q1 2021 and Q2 2021, the economy witnessed a growth of 1.3%.
As far as the growth areas are concerned, retail sales and industrial production are two areas that did well.
On a year-on-year basis, retail sales witnessed a surge of 12.1% in June this year, having beverages as the fastest-growing sub-category with 29.1% growth year-on-year.
Another area to do well was industrial production that grew by 8.3%, surpassing the estimated 7.8%.
On the downside, domestic demand is still plagued by structural risks. A feeble surge in long-term credit and regulation-related uncertainties in the market remains the specific area of concern.
Mastercard Barred from Onboarding New Customers in India
Over non-compliance with local data storage regulations, the Reserve Bank of India, the country’s central bank, has stopped Mastercard from issuing new cards to its South Asian customers. These cards include new debit, credit, or prepaid cards.
According to the statement issued by the central bank, Mastercard had enough time and opportunities to comply with the new regulations that will come into effect from July 22nd onwards.
However, the company failed to adhere to the restrictions. The bank has also directed Mastercard to advise all card-issuing banks and non-banks to conform to these restrictions.
On the positive side, the barring of Mastercard to onboard new customers would not affect the brand’s existing customers.
Mastercard, along with other card issuers, has previously expressed their displeasure over the Indian regulator’s rules, which, they believe, are drafted to equip the regulator with “unfettered supervisory access.”
Crypto Mining Firm Found Running on Stolen Electricity
The Ukrainian authorities have unearthed a large-sized crypto mining farm that had more than 5,000 computers deployed at its site — all running on stolen electricity.
Out of these 5,000 computers, 3,800 were Sony PlayStation 4 consoles.
Among other hardware, the authorities secured more than 500 graphics cards, 50 processors, phones, laptops, and documents on electricity consumption.
To steal electricity, the facility was tampering with electricity meters. These meters were not recording the actual energy consumption.
Through this tampering, the site owners were bypassing payments anywhere between $186,000 and $259,300 per month, leaving other consumers in the area without power.