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Bitcoin blow as fund drops U.S. exchange application

The shares are nonetheless trading up 508 percent this year, more even than the meteoric rise of the digital currency, which JPMorgan Chase & Co CEO Jamie Dimon this month called “a fraud” that will blow up.

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An effort to allow investors to trade digital currencies as easily as stocks in the United States stumbled when the backer of a bitcoin fund said an application to list on an exchange had been withdrawn.

Grayscale Investments LLC said Intercontinental Exchange Inc’s (ICE.N) NYSE Arca exchange withdrew a request with the U.S. Securities and Exchange Commission (SEC) to list its Bitcoin Investment Trust (GBTC.PK), in the latest setback to the digital currency.

“Although digital currency market regulation continues to rapidly evolve, at this time Grayscale does not believe there have been enough regulatory developments to prompt the SEC to approve the … application,” the fund’s issuers said in a statement. They said they would continue their dialogue with regulators, but could not predict when they may get approved.

The Bitcoin Investment Trust is currently traded “over the counter” in less formal exchanges than those used for typical stock transactions and at far higher prices than the bitcoin it holds. On Wednesday, shares closed at $739.50, while the bitcoin it holds were worth less than $373, according to the issuer.

The shares are nonetheless trading up 508 percent this year, more even than the meteoric rise of the digital currency, which JPMorgan Chase & Co CEO Jamie Dimon this month called “a fraud” that will blow up.

Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government.

Approval from the SEC could bring more investors into the asset, yet the regulatory agency has expressed doubts over the fact that the bitcoin market is unregulated.

In March, the SEC denied two applications to list bitcoin products on exchanges, including one backed by investors Cameron and Tyler Winklevoss, the twins best known for a feud with Facebook Inc (FB.O) founder Mark Zuckerberg which was dramatized in the 2010 film “The Social Network.”

CBOE Holdings Inc’s (CBOE.O) Bats exchange, which wanted to host the Winklevoss-backed exchange traded fund (ETF), has appealed the SEC’s ruling.

A proposal to list a product based on ether, a rival digital currency, was pulled earlier this month.

Regulators have not yet weighed in on two other efforts to bring a digital currency to U.S. exchanges. Similar products already trade in Europe and one is being considered in Canada.

NYSE and the SEC were not immediately reachable for comment.

Source : Reuters

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Bomb Threats Across United States – reports

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crime

Law enforcement authorities around the United States were reponding to a wave of bomb threats, many of them sent by email NBC reported.

A spokesman for the Oklahoma City police told NBC News that individuals in and around that city have gotten 10 to 13 specific email bomb threats, with specific addresses.

Bronx Science said it evacuated its building at 11 a.m. after it received a bomb threat by phone. The school said students were “currently well supervised at neighboring schools.”

The New York police department confirmed it received a call about the threat and responded to the school. The department later tweeteed it was monitoring “multiple bomb threats that have been sent electronically to various locations throughout the city.”

Nearly a dozen threats were received at businesses throughout South Florida, including in Fort Lauderdale and Pompano Beach. At least three others were reported in Orlando.

Massachusetts State Police are investigating after multiple bombs threats were allegedly mailed to “numerous businesses in the state.” Authorities said the MSP Fusion Center is tracking the activity.

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Trump accuses Comey of lying in testimony to Congress

Trump criticised Comey’s testimony, the transcription of which was made public Saturday evening and was published on Sunday by several US media outlets.

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James Comey

Washington, Dec 10 : US President Donald Trump has accused former FBI Director James Comey of lying during his testimony before a congressional committee last week, when the ex-official revealed that the investigation into presumed Russian interference in the 2016 presidential election was initially focused on four US citizens.

In two tweets, Trump criticised Comey’s testimony, the transcription of which was made public Saturday evening and was published on Sunday by several US media outlets, Efe reported on Sunday.

“Leakin’ James Comey must have set a record for who lied the most to Congress in one day. His Friday testimony was so untruthful! This whole deal is a Rigged Fraud headed up by dishonest people who would do anything so that I could not become President. They are now exposed!” Trump wrote on Twitter.

The president added that during Comey’s appearance before the House Judiciary and Government Reform committees on Friday, the former FBI chief told lawmakers “on 245 occasions” that “he didn’t know, didn’t recall, or couldn’t remember things when asked. Opened investigations on 4 Americans (not 2) … All lies!”

Comey, who was abruptly fired by Trump in May 2017, was ordered to appear before Congress behind closed doors on Friday to respond to questions from lawmakers investigating the actions of the FBI and the Department of Justice during the scandal involving former Democratic presidential candidate Hillary Clinton regarding her use of a private e-mail server while she was secretary of state.

In July 2016, Comey closed the FBI investigation into Clinton’s use of her private server to send a number of e-mails while she was serving in the Barack Obama administration, but a few days before the election he reopened the probe to review new messages, something that Democrats say could have influenced the result of the election, which Clinton lost to Trump in what most regarded as a stunning upset.

In his appearance before the House committees, Comey defended the decisions he made in 2016 and revealed that the FBI investigation into possible links between Russia and the Trump campaign initially was focused on four Americans, according to the transcript.

Comey did not identify those four people, but he said that Trump was not one of them.

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Former US President George H.W. Bush dead at 94

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Herbert Walker Bush-

Washington, Dec 1: George H.W. Bush, the 41st President of the US who is best known for sanctioning the Gulf War, presiding over the fall of the Berlin Wall and steering America through the end of the Cold War, has died at the age of 94 in Houston.

The announcement of his passing on Friday night was made in a statement by his son and 43rd US President George W. Bush on Saturday. “Jeb, Neil, Marvin, Doro, and I are saddened to announce that after 94 remarkable years, our dear dad has died,” Bush said.

George Herbert Walker Bush served as a fighter pilot during the Second World War, a Congressman, Ambassador to the UN, Central Intelligence Agency (CIA) Director and served two terms as Ronald Reagan’s Vice President between 1981 and 1989, before concluding his four-decade long political career by serving as the US President from 1989 to 1993.

During his stint in the White House, Bush Sr. saw the end of the Cold War, the first Gulf War and the invasion of Panama while the Soviet Union collapsed and Germany reunified.

Despite military and diplomatic successes, he was unable to secure re-election and handed over the reins of the White House to Bill Clinton and retired to his home in Boston, Texas, along with his wife Barbara Bush.

Bush Sr’s death came eight months after that of his spouse to whom he was married for 73 years. They had six children together. The cause of his death was not immediately known.

He was suffering from a form of Parkinson’s disease that left him on a wheelchair over the last few years. He was also frequently hospitalised especially for respiratory problems.

President Donald Trump and First Lady Melania Trump said Bush guided the nation and the world to a victorious end to the Cold War.

“With sound judgement, common sense and unflappable leadership, President Bush guided our nation and the world to a peaceful and victorious conclusion of the Cold War,” Trumps said.

Bush Sr. was also lauded by former President Barack Obama who called him “a patriot and humble servant”.

“His life was a testament to the notion that public service is a noble, joyous calling,” Obama said.

Grandson George P. Bush said: “He was a good man. His courage was matched by his compassion; and his dedication to country was equalled only by his devotion to his family.”

Tricia Nixon Cox and Julie Nixon Eisenhower, the daughters of former President Richard Nixon, said: “George H.W. Bush lived a life that was purposeful, and extraordinarily rewarding – for our nation, and for our world.”

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