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Plus500 Share Price in Green, Buys Nearly 34K of Own Shares

On the 4th of September 2020, the broker repurchased 33,750 of its own ordinary shares.

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It’s a new week, and that means that the latest share buyback program currently being executed by Plus500 continues, with the broker revealing this Monday it has bought just under 34,000 more of its own ordinary shares.

In particular, on Friday, the 4th of September 2020, the London listed broker repurchased 33,750 of its own ordinary shares of ILS 0.01 each through Credit Suisse Securities (Europe) Limited.

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According to a regulatory document filed through the London Stock Exchange (LSE) this Monday, the volume weighted average price paid per share by the broker was around £14.79. Therefore, Plus500 spent approximately £499,182,75 on its latest batch of shares.

Whilst the overall average price paid by Plus500 was £14.79, the lowest price paid per share by the Israel based broker was £14.45 and the highest price paid per share across the 33,750 shares was £15.04.

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“The Company will hold the repurchased shares in treasury. Following the purchase of these shares, the remaining number of ordinary shares in issue will be 105,579,143 (excluding treasury shares), and the company will hold 9,309,234 ordinary shares in treasury,” the company said in its regulatory filing today.

Plus500 shares are in the green

After peaking on the 18th of August 2020, the share price of Plus500 has been hovering around the £14.60-£14.80 mark since the beginning of September. So far today, the company’s share price has been in the green.

The latest batch of shares is in line with the recent trend of the London listed broker. In recent weeks, the company repurchases about 30 thousand of its own shares each weekday and spends close to £500,000 for each round.

As Finance Magnates reported, as part of its latest program, the firm plans to repurchase $67.3 million worth of its own shares. It will run from 11th August 2020 up until 28th February 2021. It is possible for the broker to end the program earlier on the date of the announcement of its preliminary results for the year ended on 31st December 2020.

Source: https://www.financemagnates.com/forex/brokers/plus500-share-price-in-green-buys-nearly-34k-of-own-shares/

Blockchain

Craig Wright Sues Bitcoin Developers Over Stolen BTC Worth $5 Billion

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The self-proclaimed Satoshi Nakamoto, Craig Wright, has filed yet another lawsuit within the cryptocurrency industry. This time, he has targeted the developers of BTC, BCH, BSV, and BCH ABC requesting that they retrieve access to BTC stolen from his personal computer worth about $5 billion.

CSW Sues BTC Developers Because he was Hacked

Wright has publicly claimed that he is the person behind the Bitcoin network for years – Satoshi Nakamoto. This narrative, which lacks any conclusive evidence, has been highlighted once more by the latest law firm that will represent him in his most recent lawsuit against representatives of the cryptocurrency space.

Ontier, a UK-based litigation law firm, has published a press release asserting that it has informed the developers of Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), and Bitcoin Cash ABC (BCH ABC) of the lawsuit.

With these “ground-breaking legal proceedings,” the firm acts on behalf of Tulip Trading Limited (TTL) – a Seychelles-based company with a primary beneficial owner – Craig Wright. The nature of the lawsuit is somewhat controversial, to say the least.

“In February 2020, Dr. Wright’s personal computer was hacked by persons unknown and encrypted private keys to two addresses, which hold substantial quantities of Bitcoin belonging to TTL, were stolen. These assets were, and continue to be, owned by TTL. The theft is the subject of an ongoing investigation by the Cyber Crime division of the South East England Regional Organized Crime Unit.”

Consequently, the lawsuit has requested that the developers “enable TTL to regain access to and control of its Bitcoin on the grounds that they owe Bitcoin owners both tortious and fiduciary duties under English law as a result of the high level of power and control they hold over their respective blockchains.”

Per their estimation, the sizeable amount has a value of over £3.5 billion or about $5 billion.

More to Follow?

Paul Ferguson, a Partner at Ontier, commented that Wright, the supposed creator of BTC, has “always intended Bitcoin to operate within existing laws.” Moreover, he believes that the Bitcoin developers have the power and obligation to deploy code to “enable the rightful owner to regain control” of his assets.

Should Wright’s lawsuit succeed, others in a similar position could follow suit, added Ferguson.

Craig Wright is no stranger to initiating lawsuits against crypto industry representatives. In his previous one, his lawyers requested two Bitcoin-related websites to remove the BTC whitepaper, which received quite adverse reactions from the community.

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Source: https://cryptopotato.com/craig-wright-sues-bitcoin-developers-over-stolen-btc-worth-5-billion/

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Blockchain

All of the Federal Reserve’s wire and ACH systems are down

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All of the services available through the Federal Reserve’s online portal have been down for more than an hour.

According to the Federal Reserve Bank Services’ website, the bank is experiencing a disruption in its account services, central bank, Check 21, check adjustments, FedACH, FedCash, FedLine Advantage, FedLine Command, FedLine Direct, FedLine Web, Fedwire Funds, Fedwire Securities, and National Settlement — all services typically available — which started at 6:18 PM UTC today. In addition, all the access solutions that the Fed offers, with the exception of FedMail, are also offline.

Washington Post reporter Rachel Leah Siegel reportedly received an alert from the Fed saying its staff were “currently investigating a disruption to multiple services” and would “continue to provide updates as soon as they are available.”

“A Federal Reserve operational error resulted in disruption of service in several business lines,” said Jim Strader from the  Federal Reserve Bank of Richmond. “We are restoring services and are communicating with all Federal Reserve Financial Services customers about the status of operations.”

This story is developing and will be updated.

Source: https://cointelegraph.com/news/all-of-the-federal-reserve-s-wire-and-ach-systems-are-down

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Why it’s critical to monitor Bitcoin miners’ position over the next 2 weeks

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The narrative of a bear-led correction is always around, even during the headiest of bull runs. A similar situation is unraveling at the moment, with many still expecting Bitcoin’s performance to take a more calamitous turn.

At press time, while Bitcoin had recovered to climb north of $50,000, some key on-chain metrics seemed to suggest that selling pressure might not be done yet, especially on the miners’ side.

Bitcoin Miners’ Outflow Multiple, Volumes on the rise

Source: Twitter

According to Glassnode data, Bitcoin Miner Outflow Multiple climbed to touch a monthly high after BTC’s decline on the charts. The aforementioned metric relates to the period of time when the amount of Bitcoin flowing out of miners’ addresses is higher than the historical average.

Alongside the same, Outflow volumes of Bitcoin miners also climbed to a 1-month high with over $4.5 million on a 7-day average.

Now, while at first glance that may sound concerning over the short-term, the fact of the matter is that the long-term perspective is still in the green.

Source: CryptoQuant

The Miners’ Position Index is a good example. When the market was correcting back in mid-January, the MPI had surged to a high of 12.65, underlining extremely high selling pressure from miners (An Index reading of over 2 suggests that a majority of miners are selling). On the contrary, the latest drop in Bitcoin’s price pushed the MPI only up to 3.50, with the same down to 2.56, at press time.

Further, additional data seemed to suggest that small miner outflows may have contributed to high outflow volumes since these entities need to balance out their cash reserves on a consistent basis.

Bitcoin hashrate and difficulty is still relatively high

The relative hashrate for Bitcoin has dropped over the course of February, but it is important to note that over the past 3 days, the relative change is very negligible. In fact, the current hashrate is still well above 2020’s highest rate, a finding that means that miners are still active and possibly profitable, despite corrections being the norm for most of the past 24-36 hours.

Source: blockchain

On the question of mining difficulty, the attached chart seemed to suggest that the difficulty was at an all-time high on 23 February with a hashrate of 21.724t. With a difficulty adjustment imminent on the charts, a minor correction would mean that bear-led corrections would not be dragged forward due to miners’ activity.

That being said, it remains critical to monitor miners’ position over the next couple of weeks.


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Source: https://ambcrypto.com/why-its-critical-to-monitor-bitcoin-miners-position-over-the-next-2-weeks

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