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Jeff Bezos Slips to Number 2 as Bernard Arnault Becomes World’s Richest Man

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Bernard Arnault has been in the limelight for the best part of the last 5 years when his name has been amongst those of the wealthiest people on earth. 

According to available reports, the richest man in the world is no longer the CEO of Amazon.com Inc (NASDAQ: AMZN) Jeff Bezos, that title now belongs to the boss of Moet Hennessy Louis Vuitton (LVMH) Bernard Arnault, who has a net worth of $192.2 billion.

Per the report, Bezos now sits second on the list with a worth of $187 billion. While the founder and CEO of Tesla Inc (NASDAQ: TSLA) and SpaceX Elon Musk ranks third with a fortune of $156.4 billion.

Bernard Arnault Takes Over Jeff Bezos

One interesting fact is that people know little about Arnault. But he has been in the limelight for the best part of the last 5 years when his name has been amongst those of the wealthiest people on earth.

The French tycoon brands range from Christain Dior, Givenchy, Marc Jacobs, Stella McCartney, Loro Piana, Kenzo, Celine, Fenty, Princess Yachts, and Bulgari. Also is his LVMH, whose businesses include wines and spirits, perfumes and cosmetics, watches and jewelry, and hospitality industries. Earlier in January, he acquired Tiffany & Co, for approximately $16 billion, which is arguably the largest luxury brand acquisition in history.

Bill Gates, Mark Zuckerberg Others Round off List of Top 10

Former Microsoft Corporation (NASDAQ: MSFT) boss Bill Gates had held the position of the richest man in the world for the best pet of a decade. The philanthropist, however, has slipped down the pecking order and now ranks behind Arnault, Bezos and Musk. He has amassed wealth worth $126.8 billion.

Experts, however, suggest that his recent divorce with his wife of 27 years, Melinda Gates, could cut into his wealth which could lead to him dropping further below the chart.

Another notable name on the list is Mark Zuckerberg, the founder of the social media behemoth, Facebook. Per the report, Zuckerberg is worth $119.2 billion, with his wealth coming majorly from his company.

Warren Buffett, affectionately referred to as the Oracle of Omaha, is number six. He is reportedly worth $109 billion. The billionaire philanthropist is widely acclaimed for his knack for investments and many hail him as “one of the most successful investors in the world.”

Larry Page, the CEO of the largest search engine Google, is also on the list of the richest people in the world. He, alongside Sergey Brin – who is also on the list – founded the search engine site. Page is ranked eighth on the list with a net worth of $102 billion while Brin is worth $99.6 billion.

Francoise Meyers takes the tenth position on the ranking with a worth of $89.5 billion. She is the only woman in the top 10 and unarguably the richest woman in the world.

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Oluwapelumi Adejumo

Oluwapelumi is a believer in the transformative power Bitcoin and Blockchain industry holds. He is interested in sharing knowledge and ideas. When he is not writing, he is looking to meet new people and trying out new things.

Source: http://feedproxy.google.com/~r/coinspeaker/~3/sxpO31DVrW4/

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Mapping out Ethereum’s DeFi ecosystem

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September 22, 2021, 3:32AM EDT

• 46 min read

Quick Take

  • Despite potential regulatory concerns surrounding the Decentralized Finance (DeFi) vertical and subsequent stablecoins that power much of its ecosystem, DeFi has been the most popular deal type amongst investors for the majority of 2021
  • The DeFi vertical has received nearly $1.3 billion investment across 275 funding rounds, with Ethereum-based applications receiving a significant percentage of that capital from January to August
  • In total, Ethereum’s DeFi ecosystem has amassed at least 320 startups and protocols across 14 verticals, which The Block has mapped out below
  • This ecosystem map has been UPDATED from here

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Source: https://www.theblockresearch.com/mapping-out-ethereums-defi-ecosystem-2-118188?utm_source=rss&utm_medium=rss

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Commodity strategist predicts Bitcoin ETF could get the nod in US next month

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Bloomberg Intelligence Commodity Strategist Mike McGlone believes it is only a matter of time before the U.S. Securities and Exchange Commission (SEC) approves the country’s first Bitcoin exchange-traded fund (ETF).

In an interview with Stansberry Investor host Daniela Cambone on Sept. 21, McGlone asserted that Canada is extending a competitive lead over the United States after approving Bitcoin ETFs from 3iQ and Coinshares in April.

He emphasized that capital is flowing from the U.S. to Canada’s institutional crypto products, including from Cathie Wood’s Ark Invest. However, he believes that lawmakers in the United States will not want to miss out for much longer.

When asked about a timeframe on potential U.S. Bitcoin ETF approval, McGlone said it could happen “potentially by the end of October.” He maintained that it was likely to be a futures-backed product first, adding that it would open a “legitimization window for a massive amount of money inflow.”

McGlone also reiterated the latest report from Bloomberg Intelligence that stated Bitcoin prices hitting $100,000 was a possibility this year, and this would be driven by the approval of an ETF.

Crypto YouTuber Lark Davis shares McGlone’s price targets, observing that in previous bull markets in 2013 and 2017, the latter quarters saw huge price rallies.

Related: Canadian Bitcoin ETFs quickly hit $1.3B in AUM while US acceptance lags

The SEC is currently yet to approve a crypto ETF despite the number of applications it has received from prospective issuers continuing to mount.

Earlier this month, multinational financial services firm Fidelity Investments, lobbied the SEC to approve an ETP arguing that Bitcoin markets have already reached maturity under the regulator’s own standards.


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Source: https://cointelegraph.com/news/commodity-strategist-predicts-bitcoin-etf-could-get-the-nod-in-us-next-month

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TA: Ethereum Topside Bias Vulnerable If It Struggles Below $3K

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Source: https://www.newsbtc.com/analysis/eth/ethereum-struggles-below-3k/

Ethereum settled below the $3,000 support zone against the US Dollar. ETH price could resume its decline unless there is a clear break above the $3,000 resistance zone.

  • Ethereum started a fresh decline below the $3,100 and $3,000 support levels.
  • The price is now trading below $3,000 and the 100 hourly simple moving average.
  • There is a major bearish trend line forming with resistance near $3,000 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could resume its decline unless there is a clear break above the $3,000 resistance zone.

Ethereum Price Remains At Risk

Ethereum started another decline from the $3,100 resistance zone. ETH traded below many important support zones near $3,000 and the 100 hourly simple moving average, similar to bitcoin.

The price even broke the $2,800 support level to move further into a bearish zone. A low is formed near $2,651 and the price is now correcting losses. There was a break above the $2,800 and $2,850 resistance levels.

The price recovered above the 23.6% Fib retracement level of the recent drop from the $3,105 swing high to $2,651 low. An immediate resistance on the upside is near the $2,880 level. There is also a major bearish trend line forming with resistance near $3,000 on the hourly chart of ETH/USD.

Ethereum Price

Source: ETHUSD on TradingView.com

The trend line is close to the 50% Fib retracement level of the recent drop from the $3,105 swing high to $2,651 low. A close above the $3,000 resistance could start a decent recovery. The next major resistance might be near the $3,105 level. A clear break and close above the $3,105 level could start a steady increase. The next major resistance sits near $3,135 and the 100 hourly SMA.

More Losses in ETH?

If ethereum fails to correct higher above the $2,880 and $3,000 resistance levels, it could start another decline. An initial support on the downside is near the $2,800 level.

The next major support seems to be forming near the $2,650 level. A downside break below the $2,650 support zone could lead the price towards the $2,550 zone. The next major support is near the $2,500 level, below which ether price might decline towards the $2,420 support zone.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly losing pace in the bullish zone.

Hourly RSIThe RSI for ETH/USD is still below the 50 level.

Major Support Level – $2,650

Major Resistance Level – $3,000

Source: https://www.newsbtc.com/analysis/eth/ethereum-struggles-below-3k/

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