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Coinbase warns the entire crypto market could be destabilized if bitcoin’s anonymous creator is ever revealed or sells $30 their billion stake

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February 25, 20210

Summary List PlacementCoinbase revealed documents to go public on the Nasdaq stock exchange via a direct listing on Thursday. In the filing, the digital trading platform listed bitcoin's creator Satoshi Nakamoto as a potential risk factor. Coinbase cites the identification of Nakamoto — the pseudonym used by the individual or group of people who created bitcoin — as a potential risk for the platform. If the identity of the creator of bitcoin was revealed, it could cause bitcoin prices to deteriorate, according to the filing.  The filing also referenced Nakamoto's personal stash of bitcoins that total over one million. As of February, one bitcoin is worth around $50,000. Nakamoto could negatively impact Coinbase, the company said, and destabilize the entire crypto market if the creator d...

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State regulator’s negotiations with Boeing about Santa Susana cleanup sparks criticism

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February 25, 20210

A state department agency that oversees the cleanup of toxic Santa Susana Field lab met confidentially with Boeing Company, one of the polluters, to mediate the cleanup of the area in the hills above the San Fernando and Simi valleys, drawing criticism from a Ventura County supervisor and activists. In a letter sent on Jan. 22, Grant Cope from the California Department of Toxic Substances Control, or DTSC, a state agency that oversees the cleanup, offered the Boeing Company to “enter into non-binding, confidential mediation” to resolve Boeing’s dispute with DTSC “regarding Boeing’s groundwater corrective measures study and risk assessments at the Santa Susana Field Laboratory,” according to documents released by Watchdog group Public Employees for Environmental Responsibility, or PEER. In

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Jen Psaki Battles Meghan McCain Over ‘Hypocrisy’ of Biden’s Migrant Detention Facilities

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February 25, 20210

ABCWhite House Press Secretary Jen Psaki pushed back against The View’s Meghan McCain on Thursday over accusations of “hypocrisy” surrounding the Biden administration’s use of detention facilities to house migrant children. The current situation is “absolutely not” the same as “kids in cages,” Psaki insisted. Earlier this week, it was reported that the Biden administration had opened its first migrant child facility at the border. The temporary facility, which had been shuttered under the Trump administration following backlash over the controversial zero-tolerance policy of separating migrant children from parents, will be used to hold up to 700 children aged 13 to 17. at The Daily Beast. ...read more Source:: The Daily Beast...

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Experts say Dominion and Smartmatic could win their defamation lawsuits, but MyPillow CEO Mike Lindell says they have ‘zero’ shot

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February 25, 20210

Summary List PlacementDominion Voting Systems and Smartmatic have sued several Trump-backers for billions of dollars, and experts say they may succeed if they can pass the high bar required in proving defamation. The companies said the defendants, which in various lawsuits have included Rudy Giuliani, Sidney Powell, MyPillow CEO Mike Lindell, and Fox News, spread conspiracy theories about their voting machines following the 2020 election. In order to win the cases, Dominion and Smartmatic would need to prove the defendants made false and harmful statements of fact. Plus, the companies could be considered public figures, meaning they'd have to prove the defendants knew their statements were false or reckless, meeting a standard of "actual malice."  "In the interest of promoting the false...

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Best Buy slides 9% on weak holiday sales and soft 2022 revenue guidance (BBY)

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February 25, 20210

Summary List PlacementBest Buy stock slumped Thursday, hurt by fourth-quarter revenue that fell short of Wall Street's target and the electronic retailer's outlook for a potential decline in same-store sales in the current quarter. Revenue was $16.94 billion for the period ended January 31. That result missed expectations of $17.2 billion but was higher than $15.2 billion in revenue generated in the same quarter last year. Demand for technology "remains at elevated levels" at the start of fiscal 2022 but the company said there's also still significant uncertainty about how customer trends will develop with the COVID-19 pandemic still ongoing. It forecast a decline of 2% to growth of 1% in comparable sales for the fiscal year. Shares slumped as much as 9% with an intraday low of $103.39...

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Tesla slips as report says the EV maker will idle Model 3 line at its Freemont factory for two weeks (TSLA)

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February 25, 20210

Summary List PlacementShares of Tesla slipped as much as 4% on Thursday after a report said the EV maker will idle the Model 3 line at its Freemont, California factory for two weeks. Staff on the Model 3 line in Fremont were told production would be shut down until March 7 without an explanation, according to unnamed Bloomberg sources. The workers were told they would be paid through the end of this week, but would not be paid through next week, and were advised to take vacation time if they had it. Analyst Dan Ives of Wedbush Securities said the shutdown is most likely "chip shortage driven" in a note to clients Thursday morning. Ives said he was "not overly concerned" with the supply chain and factory disruption and argued it won't change "the overall delivery trajectory for 1Q and 2...

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Outdoor Voices chairwoman Ashley Merrill lays out her thoughts on the female founder narrative and how she turned around the athleisure brand after its valuation dropped 64%

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February 25, 20210

Summary List PlacementEditor's note: Outdoor Voices announced the appointment of Gabrielle Conforti as CEO on February 25, 2021. Conforti previously held various leadership roles at Urban Outfitters, including chief merchandising officer and president. The below story was originally published in January 2021, when the company was in the process of considering candidates for the role of chief executive, part of a search led by chairwoman and then-acting CEO, Ashley Merrill.  If anyone knows how difficult it is to be a female founder in retail, it's Ashley Merrill.  Since June, Merrill has been working double duty as both co-founder and CEO of the women's sleepwear brand, Lunya and recently appointed chairwoman and acting CEO of Outdoor Voices. As a long-time fan of the brand and its foun...

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Rand Paul Launches Into Transphobic Rant Against Trans Nominee

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February 25, 20210

REUTERSDr. Rachel Levine, the first transgender person to be nominated for a Senate-confirmed position in the federal government, had been seated in her confirmation hearing to become the nation’s assistant secretary of health for a little less than an hour when she was grilled about “genital mutilation” of minor children by a Republican committee member. “American culture is down normalizing the idea that minors can be given hormones,” Sen. Rand Paul (R-KY) said on Thursday, likening standards of care for transgender minors to castration and female circumcision and blaming increasing rates of trans-identified youth on “the social pressure to conform and do what others do.” “Do you believe minors are capable of making such a life changing decision of changing one's sex?” Paul asked Levine...

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Guy Fieri opens virtual kitchens throughout Southern California

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February 25, 20210

Guy Fieri is going big on ghost kitchens. The Food Network chef is the latest celebrity to partner with Virtual Dining Concepts. The result is Guy Fieri’s Flavortown Kitchen, a delivery-only restaurant that’s available in a dozen Southern California cities. It also has a presence in 27 other states and the District of Columbia. The menu includes burgers, sandwiches, wings, pasta, macaroni and cheese, fries and fried pickles. This is Fieri’s biggest presence in Southern California. He has his name on several brick-and-mortar restaurants throughout the country, but here he has one restaurant, Guy Fieri’s American Kitchen & Bar in the Hollywood Burbank Airport. Ghost kitchens, also called virtual kitchens and several other names, rely on online orders and third party deliveries. They usu...