Why Dogecoin Is Up 20%

Why Dogecoin Is Up 20%

Bloomberg

(Bloomberg) – After China imposed a record antitrust fine on Alibaba Group Holding Ltd., the e-commerce giant did an unusual thing: It thanked regulators.“Alibaba would not have achieved our growth without sound government regulation and service, and the critical oversight, tolerance and support from all of our constituencies have been crucial to our development,” the company said in an open letter. “For this, we are full of gratitude and respect.”It’s a sign of how odd China’s crackdown on the power of big tech has been compared with the rest of the world. Mark Zuckerberg and Tim Cook would likely not express such public gratitude if the U.S. government were to hit Facebook Inc. or Apple Inc. with record antitrust fines.Almost everything about China’s regulatory push is out of the ordinary. Beijing regulators wrapped up their landmark probe in just four months, compared with the years that such investigations take in the U.S. or Europe. They sent a clear message to the country’s largest corporations and their leaders that anti-competitive behavior will have consequences.For Alibaba, the $2.8 billion fine was less severe than many feared and helps lift a cloud of uncertainty hanging over founder Jack Ma’s internet empire. The 18.2 billion yuan penalty was based on just 4% of the internet giant’s 2019 domestic revenue, regulators said. While that’s triple the previous high of almost $1 billion that U.S. chipmaker Qualcomm Inc. handed over in 2015, it’s far less than the maximum 10% allowed under Chinese law. Alibaba’s shares rose more than 8% Monday in Hong Kong.“We’re happy to get the matter behind us,” Joseph Tsai, co-founder and vice chairman, said on an investor call on Monday. “These regulatory actions are undertaken to ensure fair competition.”The fine came with a plethora of “rectifications” that Alibaba will have to put in place – such as curtailing the practice of forcing merchants to choose between Alibaba or a competing platform – many of which the company had already pledged to establish. But Tsai said regulators won’t impose radical changes to its e-commerce strategy. Instead, he and other executives pledged to open up Alibaba’s marketplaces more, lower costs for merchants while spending “billions of yuan” to help its clients handle e-commerce.Tsai said the company is unaware of any other antitrust investigations into the company, except for a previously discussed probe into acquisitions and investments by Alibaba and other tech giants.“The required corrective measures will likely limit Alibaba’s revenue growth as a further expansion in market share will be constrained,” Lina Choi, a senior vice president at Moody’s Investors Service, said in a note. “Investments to retain merchants and upgrade products and services will also reduce its profit margins.”Alibaba Chief Executive Officer Daniel Zhang on Saturday declared his company now ready to move on from its ordeal, while China’s Communist Party mouthpiece People’s Daily issued assurances that Beijing wasn’t trying to stifle the sector.The Hangzhou-based firm “has escaped possible outcomes such as a forced breakup or divestment of assets. The penalty will not shake up its business model, either,” said Jet Deng, an antitrust lawyer at the Beijing office of law firm Dentons.Beijing remains intent on reining in its internet and fintech giants, a broad campaign that’s wiped more than $250 billion off Alibaba’s valuation since October. The e-commerce giant’s speedy capitulation underscores its vulnerability to further regulatory action – a far cry from just six years ago, when Alibaba openly contested one agency’s censure over counterfeit goods on Taobao and eventually forced the State Administration for Industry and Commerce to backtrack on its allegations.On Monday, shares in Alibaba’s fellow internet giants from social media titan Tencent Holdings Ltd. to food delivery leader Meituan and JD.com Inc. fell on fears they could draw similar scrutiny. “It’s exactly what the market is thinking right now: Tencent and Meituan are next in line if the same standards are to be applied, but even the worst won’t be so bad,” said Zhuang Jiapeng, a fund manager at Shenzhen JM Capital Co.Beyond antitrust, government agencies are said to be scrutinizing other parts of Ma’s empire, including Ant Group Co.’s consumer-lending businesses and Alibaba’s extensive media holdings. And the shock of the crackdown will continue to resonate with peers from Tencent and Baidu Inc. to Meituan, forcing them to tread far more carefully on business expansions and acquisitions for some time to come.What Bloomberg Intelligence SaysChina’s record fine on Alibaba may lift the regulatory overhang that has weighed on the company since the start of an anti-monopoly probe in late December. The 18.2 billion yuan ($2.8 billion) fine, to penalize the anti-competitive practice of merchant exclusivity, is equivalent to 4% of Alibaba’s 2019 domestic sales. Still, the company may have to be conservative with acquisitions and its broader business practices.– Vey-Sern Ling and Tiffany Tam, analystsClick here for the full research.The investigation into Alibaba was one of the opening salvos in a campaign seemingly designed to curb the power of China’s internet leaders, which kicked off after Ma infamously rebuked “pawn shop” Chinese lenders, regulators who don’t get the internet, and the “old men” of the global banking community. Those comments set in motion an unprecedented regulatory offensive, including scuttling Ant’s $35 billion initial public offering.It remains unclear whether the watchdog or other agencies might demand further action. Regulators are said, for instance, to be concerned about Alibaba’s ability to sway public discourse and want the company to sell some of its media assets, including the South China Morning Post, Hong Kong’s leading English-language newspaper.Read more: China Presses Alibaba to Sell Media Assets, Including SCMPChina’s top financial regulators now see Tencent as the next target for increased supervision, Bloomberg News has reported. And the central bank is said to be leading discussions around establishing a joint venture with local technology giants to oversee the lucrative data they collect from hundreds of millions of consumers, which would be a significant escalation in regulators’ attempts to tighten their grip over the country’s internet sector.“The high fine puts the regulator in the media spotlight and sends a strong signal to the tech sector that such types of exclusionary conduct will no longer be tolerated,” said Angela Zhang, author of “Chinese Antitrust Exceptionalism” and director of the Centre for Chinese Law at the University of Hong Kong. “It’s a stone that kills two birds.”For now, it appears investors are just glad it wasn’t worse. In its statement, the State Administration for Market Regulation concluded Alibaba had used data and algorithms “to maintain and strengthen its own market power and obtain improper competitive advantage.” Its practice of imposing a “pick one from two” choice on merchants “shuts out and restricts competition” in the domestic online retail market, according to the statement.The firm will be required to implement “comprehensive rectifications,” including strengthening internal controls, upholding fair competition and protecting businesses on its platform and consumers’ rights, the regulator said. It will need to submit reports on self-regulation to the authority for three consecutive years.The company will have to make adjustments but can now “start over,” Zhang wrote in a memo to Alibaba’s employees Saturday.“We believe market concerns over the anti-monopoly investigation on BABA are addressed by SAMR’s recent decision and penalties,” Jefferies analysts wrote in a research note entitled “A New Starting Point.”Indeed, The People’s Daily said in its commentary Saturday that the punishment was intended merely to “prevent the disorderly expansion of capital.”“It doesn’t mean denying the significant role of platform economy in overall economic and social development, and doesn’t signal a shift of attitude in terms of the country’s support to the platform economy,” the newspaper said. “Regulations are for better development, and ‘reining in’ is also a kind of love.”(Updates with shares and commentary from the fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

KRONOS ADVANCED TECHNOLOGIES INC ACQUIRES 600,000,000 DOGECOIN CASH

Los Angeles, CA, April 12, 2021 (GLOBE NEWSWIRE) – KRONOS ADVANCED TECHNOLOGIES, INC. (OTC MARKETS: KNOS) (“KNOS” or the “Company”), a product development and production company that has significantly changed the way indoor air is moved, filtered and sterilized today announced that last month it completed an exchange with the Dogecoin Cash Foundation of its entire holdings in First Bitcoin (Crypto: BIT) for 600,000,000 Dogecoin Cash (Crypto: DOG).

This enables KNOS to participate in its recently formed DogeSPAC at a greater rate than the 20% already earned as the SPAC’s sponsor.

“With the growing excitement around Dogecoin Cash, Kronos aggressively accepting Dogecoin as payment, and our popular limited edition air purifier rebranded as AirDOGE, we felt that swapping into Dogecoin Cash was a natural fit,” stated company President, Michael Rubinov.

Customers can purchase the company’s revolutionary clean air products using U.S. Dollars, Dogecoin, and other cryptos by visiting the Kronos shopping portal: https://www.1800safeair.com

About Dogecoin Cash

Dogecoin Cash was created as a non-inflationary complement to the original Dogecoin, utilizing several important advancements in crypto since the introduction of DOGE in 2013, including:

Proof of Content

Instead of the carbon-emitting Proof of Work mining used by coins like Bitcoin and Dogecoin, Dogecoin Cash uses the innovative new Proof of Content mechanism to distribute DOG to the community. Under the Proof of Content system, content creators can earn Dogecoin Cash by sharing links on the social platform Tipestry, where members vote to determine how much crypto each post and comment receives. Rather than encouraging energy consumption, this new system rewards people for creating and sharing content.

Proof of Work mining currently uses as much power as some entire countries including Greece and Argentina. According to a recent report published by Bank of America, “We believe ESG-minded [environmental, social, and governance] investors have to pay attention to the enormous environmental costs of Bitcoin.”

DeFi

Designed to operate within the decentralized finance ecosystem, Dogecoin Cash exists on both the Ethereum blockchain as an ERC-20 token, and on Binance Smart Chain in the BEP-20 format. It is currently tradeable on decentralized exchanges including Uniswap on Ethereum and PancakeSwap on Binance Smart Chain. Holders can also stake their Dogecoin Cash via smart contract at stake.dog, store their tokens in a wide selection of Ethereum and Biance Smart Chain wallets, and exchange them for other assets such as non-fungible tokens (NFTs).

About Kronos Advanced Technologies, Inc.

The Company was initially founded in 2002 and funded by the U.S. military to develop electrostatic air movers. Eventually, the Company moved into the consumer air purification business. It began operations as a product development company that invented and significantly changed the way air is moved, filtered, and sterilized. Historically, Kronos has focused on developing, marketing, and selling the Company’s proprietary air movement and purification technology. Serving the Indoor Air Quality (IAQ) market, Kronos technology uses state-of-the-art high voltage patented processes without the use of traditional porous HEPA filters. Kronos-based products move air silently, filter, sterilize, and purify the air while dramatically reducing energy consumption to half of a 60-watt light bulb. Kronos devices can be variable in shape or size and, therefore, have the potential to be scaled-down for air purification in cars or scaled-up in size for industrial and hazardous gas destruction. The technology is currently being implemented in multiple standalone products for businesses, homes, and vehicles of all types -to move, sterilize and filter air, including removing allergens down to 14.6 nanometers, passing through our patented technology -replacing expensive outdated passive HEPA and other filtration type systems. There are broad ranges of additional markets for standalone and embedded Kronos CORE technology-based devices. Examples of immediately addressable markets include schools, universities, healthcare facilities, operating rooms, manufacturing clean rooms, and the cabins of automobiles and commercial aircraft.

Kronos is the first publicly traded company that accepts DOGE coin as a form of payment for its products, as well as other crypto currencies.

Recently, the Company filed for a provisional patent involving an innovative protective face mask with antimicrobial and anti-cellphone radiation protection features. The Company is planning to file additional patents to improve its existing technology as well as enter into new market segments but will continue to market air purifiers and other consumer products. The Company is an exclusive distributor and licensee of the latest generation of air purifiers based on the Company’s CORE technologies. The Company markets its products as Airdog® and KRONOS® brands. All Kronos products come with Kronos Promise ™ -Your Satisfaction is Guaranteed!

Company offices are located in Los Angeles, California.

Shopping portal: https://www.1800safeair.com

Follow KNOS on Twitter: https://twitter.com/kronosati

Follow KNOS on Facebook: https://www.facebook.com/kronosati

Follow KNOS on Instagram: https://www.instagram.com/kronos_ati/

Follow KNOS on Youtube: https://www.youtube.com/channel/UCdtrQDt1R26Ulh8v-S-EpJg

Follow KNOS on Reddit: https://www.reddit.com/user/Kronos_ATI

Follow KNOS on LinkedIn: https://www.linkedin.com/company/kronos-advanced-techngologies-inc

Contact us via info@kronosati.co or visit https://www.kronosati.co or https://www.1800SafeAIR.com

Disclaimer

This news release does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service by Kronos Advanced Technologies Inc or any other third party regardless of whether such security, product or service is referenced in this press release. Furthermore, nothing in this press release is intended to provide tax, legal, or investment advice and nothing in it should be construed as a recommendation to buy, sell, or hold any investment or security or to engage in any investment strategy or transaction. Kronos Advanced Technologies does not represent that the securities, products, or services discussed in this press release are suitable for any particular investor. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, and/or tax and accounting advisor regarding your specific business, legal or tax situation.

Social Media Disclaimer and Forward-Looking Statements.

Kronos Advanced Technologies investors and others should note that we announce material information to the public about the Company through various means, including our website (https://www.kronosati.co/investors), through press releases, OTCmarkets filings, public conference calls, via our corporate Social Media accounts, listed above. We encourage our investors and others to monitor and review the information we make public in these locations as such information could be deemed to be material information. Please note that this list may be updated from time to time.

Certain statements contained in this press release may constitute “forward-looking statements.” Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the OTC Markets at OTCMarkets.com. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company’s ability to raise capital on acceptable terms, if at all, the Company’s successful development of its products and the integration into its existing products and the commercial acceptance of the Company’s products.

The forward-looking statements included in this press release represent the Company’s views as of the date of this press release, and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so.

These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of the press release.

SOURCE: KRONOS ADVANCED TECHNOLOGIES, Inc

Phone inquiries: 1-800-SAFE-AIR (option #4)

Why Is Dogecoin Going Up? The Price Of This Meme Stock Rose Up 20 Percent In Just 24 Hours

Over the past couple of days, the popular cryptocurrency Dogecoin saw a rise in its prices on the crypto markets. The meme cryptocurrency rose up to 20 per cent in value yesterday. The reason for the rise in prices for this Dogecoin is baffling. Read on to know why is Dogecoin going up.

Why is Dogecoin Going Up?

Over the past couple of week, the cryptocurrency market has been very bullish, and a lot of major cryptocurrencies are seeing an upward trend in prices. Over the past couple of days, XLR and XML both have also seen a significant rise in prices up to 20 per cent. Dogecoin also rose to one of its highest prices yesterday, at a price of 0.088 dollars. The prices of Dogecoin usually follow the trend of Bitcoin and Tesla as Elon Musk is a supporter of Dogecoin.

Whenever the prices of Bitcoin rise, the Dogecoin price also goes up. Bitcoin was trading at around 60,000 dollars yesterday, just a few hundred dollars short of its record price of 61,000 dollars. As a result, the whole crypto market was bullish, meaning people were buying up crypto stocks which led to rising prices of many cryptocurrencies. Elon Musk also tweeted about Dogecoin insinuating the prices of Doge are soon going to the Moon.

‘To the Moon’ is a term that was popularised by Wall Street Bets and is used by people to say the crypto/share’s prices are going to rise up dramatically. Fueled by Elon Musk’s tweet, a lot of people bought large quantities of Dogecoin (DOGE), which drove up the prices from a 24 hour low of 0.062 dollars to 0.078, a 20 per cent rise in the price. At the time of writing this article, the price of DOGE stands at 0.7 dollars.

pic.twitter.com/pRx2WM9s6z — I B R U H (@h4q3r) April 10, 2021

About Dogecoin

Dogecoin is a cryptocurrency that was originally formed in 2018. Doge was built to be a friendly introduction to the concept of cryptocurrency and had a ‘fun and friendly’ brand image behind it. The face of DOGE was the dog Shiba Inu, who became popular as the DOGE meme. It literally became a ‘meme cryptocurrency’. Nobody in the early years believed DOGE would become as valuable as it is today. However, Dogecoin grew in popularity because of the community surrounding it was massive and they basically made DOGE look like the money of the future. Popular celebrities like Elon Musk also supported and joked around about Dogecoin. Today, Dogecoin has become one of the most popular cryptocurrencies.

Image Source: Shutterstock