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    Novak Djokovic thanks supporters via Instagram; He's 'free to leave any time', Australia minister says

    The 34-year-old is being held in isolation at the Park Hotel in Carlton, Melbourne, awaiting the outcome of an appeal against the decision by the Australian Border Force (ABF) to cancel the reigning Australian Open champion’s entry visa and deport him.
    On Friday, Djokovic broke his silence as he wrote: “Thank you to people around the world for your continuous support. I can feel it and it is greatly appreciated,” as part of an Instagram story.
    He added in Serbian: “Thank you to my family, Serbia and all good people across the world who are sending me support. Thanks to dear God for health.”

    Novak Djokovic of Serbia poses with the Norman Brookes Challenge Cup after winning the 2021 Australian Open Men’s Final, at Brighton Beach on February 22, 2021 in Melbourne, Australia.
    Andy Cheung | Getty Images

    Novak Djokovic has broken his silence in Australia to thank supporters after the country’s Home Affairs Minister Karen Andrews said he is “free to leave any time” and is not being detained.
    The 34-year-old is being held in isolation at the Park Hotel in Carlton, Melbourne, awaiting the outcome of an appeal against the decision by the Australian Border Force (ABF) to cancel the reigning Australian Open champion’s entry visa and deport him. The appeal is set to be heard on Monday.

    On Friday, Djokovic broke his silence as he wrote: “Thank you to people around the world for your continuous support. I can feel it and it is greatly appreciated,” as part of an Instagram story.
    He added in Serbian: “Thank you to my family, Serbia and all good people across the world who are sending me support. Thanks to dear God for health.”
    Earlier, the ABF also cancelled Czech tennis player Renata Voracova’s visa before the Australian Open, and detained her in the same immigration hotel as Djokovic.
    Voracova was informed by ABF officials that she had to leave the country and the Czech Foreign Ministry later confirmed she would be dropping out of the tournament.
    “Renata Voracova decided to drop out of the tournament due to limited possibilities for training and to leave Australia,” a statement read on Friday.

    Doubles specialist Voracova played in Melbourne earlier this week but has since been detained by Border Force officials as authorities reassessed the entrance documents of two people following the drama involving Djokovic.
    Djokovic has never revealed whether he is vaccinated against Covid-19, but has criticized mandates ruling that players must be double-jabbed, and posted on social media before setting off to say he had received “exemption permission”.
    Australia Home Affairs Minister Andrews maintained Djokovic was not being detained under any duress in the country, however, as he waits in quarantine for his appeal against visa cancellation to be heard.
    “Mr Djokovic is not being held captive in Australia,” she told ABC.
    “He is free to leave at any time that he chooses to do so and Border Force will actually facilitate that.
    “We treat all people who are in immigration detention fairly, equitably.”
    She added: “A visa was granted for entry, but that does not guarantee entry.
    “He (Djokovic), along with any other individual who is seeking to enter Australia, also has to meet the entry requirements which at this point includes medical evidence of vaccination or alternatively medical reasons why that individual cannot be vaccinated.
    “He hasn’t met the entry requirements – there is a lot of chatter about the visa, but that in my understanding is not the issue, it is the entry requirements…that he was not able to produce the evidence which was needed for entry into Australia.”
    Parents: They’re crucifying him
    On Thursday, Djokovic’s father demonstrated outside the National Assembly buildings, and said of his son: “He met all the required conditions for the entry and participation at the tournament that he would have certainly won, since it’s Novak, the best tennis player and sportsman in the world.”
    Srdjan Djokovic added: “Jesus was crucified and endured many things, but is still alive among us. Novak is also crucified… he will endure.”

    Serbian tennis player Novak Djokovic’s mother Diana and his father Srdjan hold a press conference as the player is fighting in Australia his visa cancellation and pending deportation in a Federal Court challenge in Belgrade, Serbia, January 6, 2022.
    Zorana Jevtic | Reuters

    The family also held an emotional news conference at his restaurant in central Belgrade, with his nine previous Australian Open trophies on display.
    “They are keeping him in captivity. They are stomping all over Novak to stomp all over Serbia and the Serbian people,” his father Srdjan added, who also told local media his son was “the Spartacus of the new world”.
    He also said the visa issue was “nothing to do with sport, it is a political agenda”.

    His mother, Dijana, added: “They are keeping him as a prisoner, that’s not human and it’s not fair.
    “This is a political attack on Novak Djokovic…he is a scapegoat.”
    Outside the Melbourne hotel in which Djokovic is quarantining, Serbian supporters continue to gather and say they will keep doing so until he is released.
    Djokovic’s wife Jelena has expressed her gratitude to the player’s fans for “using your voice to send love to my husband.”

    Supporters of Serbian tennis player Novak Djokovic rally outside the Park Hotel, where the star athlete is believed to be held while he stays in Australia, in Melbourne, Australia, January 7, 2022.
    Sandra Sanders | Reuters

    In Instagram and Twitter posts marking Christmas in Serbia, Jelena Djokovic wrote: “Thank you dear people, all around the world for using your voice to send love to my husband.
    “I am taking a deep breath to calm down and find gratitude (and understanding) in this moment for all that is happening.
    “The only law that we should all respect across every single border is Love and respect for another human being.
    “Love and forgiveness is never a mistake but a powerful force. Wishing you all well!”
    Becker: Djokovic making ‘big mistake’ not getting vaccinated
    Novak Djokovic is making a “big mistake” if he is not getting vaccinated against Covid-19, according to his former coach Boris Becker.
    Becker – himself a former world No 1 and twice Australian Open champion, as well as winning three Wimbledon singles titles – enjoyed a successful three-year partnership with Djokovic, which included six Grand Slam victories.
    The 54-year-old maintains a close relationship with the Serb, but feels their views on how to best protect against coronavirus are very different.
    “On this occasion, I think he is making a big mistake in not getting vaccinated,” Becker said in the Daily Mail. “It is one that threatens what remains of his career and his chance to cement himself as the greatest player of all time.
    “Four times I sat in his box as he won the Australian Open, so I am fully aware of his great strengths as an incredible competitor. I also think he has a great character that can easily be misunderstood.
    “Yet these strengths can also be weaknesses. The same incredible determination which I saw win so many close matches can be a vulnerability with his stubbornness.”
    Becker feels if Djokovic does maintain his vaccine hesitancy, it could present more hurdles within his professional tennis career.
    “He is incredibly strong-willed, with very firm beliefs. If he does not, then in 10 years he will look back on it and realize he made a mistake,” Becker said.
    “It is not just about Australia. The fact is that we are living in a different world and he is going to find it very hard to live the life of a professional tennis player travelling around without the vaccination.
    “Those are the rules, whether one likes them or not.”
    Nadal: Djokovic knew the risks
    Rafael Nadal criticized Djokovic for “not following the rules”, saying: “If he wanted, he would be playing without a problem.
    “He has taken his own position and everybody is free to take their position. But there are consequences. I don’t like the situation. In some ways, I feel sorry for him.
    “But he knew the conditions months ago. He made his own decision.”
    Australia’s Nick Kyrgios has since weighed in on Twitter to call for his country to “do better” in its treatment of Djokovic.
    The world number 93 wrote: “Look I definitely believe in taking action, I got vaccinated because of others and for my mum’s health, but how we are handling Novak’s situation is bad, really bad.
    “Like these memes, headlines, this is one of our great champions but at the end of the day, he is human. Do better.”
    Djokovic’s Aussie Open debacle: What’s happened?
    Djokovic flew to Australia with a ‘vaccine exemption’ and arrived in Melbourne on Wednesday, but was ultimately denied entry into the country after nine hours at the airport.
    The Serb’s visa was one which did not allow for medical exemptions and was cancelled, after which he was moved to hotel quarantine as his team launched an appeal – this appeal has been adjourned until Monday.

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    BMW's new iX Flow concept car can change colors

    The German automaker unveiled at the CES technology conference this week a new concept vehicle called the iX Flow with “E Ink” that can change colors.
    It also showed off a new in-car 31-inch “BMW Theatre Screen” with Amazon Fire TV that’s expected to go into future production vehicles.
    The fluid color changes are made possible by a specially developed body wrap that’s similar to material used in an Amazon Kindle E-Reader that’s tailored to the contours of the all-electric vehicle.

    People look at BMW’s iX Flow prototype at the BMW booth during the CES tech show, Wednesday, Jan. 5, 2022, in Las Vegas. The iX Flow is a system that replaces regular car paint with with E Ink technology that allows the car to change color and design.
    Joe Buglewicz | AP

    BMW doesn’t want future buyers to have to worry about what color their next car will be or what movies are playing at the theater.
    The German automaker unveiled at the CES technology conference this week a new concept vehicle called the iX Flow with “E Ink” that can change colors. It also showed off a new in-car 31-inch “BMW Theatre Screen” with Amazon Fire TV that’s expected to go into future production vehicles.

    The fluid color changes are made possible by a specially developed body wrap that’s similar to material used in an Amazon Kindle E-Reader that’s tailored to the contours of the all-electric vehicle. When stimulated by electrical signals, the electrophoretic technology brings different color pigments to the surface, causing the body skin to take on the desired coloration, according to BMW.

    BMW iX Flow featuring E Ink

    Stella Clarke, project lead for BMW iX Flow featuring E Ink, said the color changing is “kind of crazy” but also could offer “some useful use cases.” She said it offers greater self-expression, could display messages such as charging status and blink if you can’t find it in a crowded parking lot.
    “We see a lot of sensible use cases behind it,” she said during a media briefing,.
    The actual vehicle is BMW’s new iX electric SUV but the color-changing technology won’t be show-room ready any time soon. Clarke said the color-changing technology isn’t slated to go into production at this time but there could be “a road for” that in the future
    Automakers routinely use concept vehicles to gauge customer interest or show potential technologies or the future direction of a vehicle or brand.

    The BMW iX Flow featuring E Ink can only change colors through a scale of white, grey and black, but officials said the technology theoretically could offer other colors.

    The “BMW Theatre Screen” is a 31-inch panorama display in 32:9 format with smart TV functions and a resolution of up to 8K.

    The “BMW Theatre Screen” is  far closer to production, BMW officials said. It includes a 31-inch panorama display in 32:9 format with smart TV functions and a resolution of up to 8K. The screen comes down from the vehicle’s headliner to display in the rear row.
    “We develop immersive, digital experiences for sheer driving pleasure. In Theatre Mode, the rear of the interior is transformed into a private cinema lounge,” Frank Weber, a member of BMW AG’s board of management, in a statement. “With the 31-inch display, 5G connectivity, 8K resolution, surround sound and individual streaming program, an unprecedented experience is created that sets new standards for in-car entertainment.”

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    Bed Bath & Beyond is closing more stores in 2022. Here's a map of locations

    Bed Bath & Beyond continues to shut underperforming locations, with dozens of closures planned for early this year.
    The company released a list of 37 locations spread across 19 states where liquidation sales have already kicked off and the shops are expected to close by the end of February.
    In 2020, Bed Bath announced it planned to close about 200 of its core banner stores over two years, as part of its broader turnaround efforts.

    A shopper walks past a Bed Bath & Beyond Inc. store
    Andrew Harrer | Bloomberg | Getty Images

    Bed Bath & Beyond continues to shut underperforming locations, with dozens of closures planned for early this year.
    The company released a list of 37 locations spread across 19 states where liquidation sales have already kicked off and the shops are expected to close by the end of February. It includes five Bed Bath shops in California, seven in New York and one in New Jersey.

    In 2020, Bed Bath announced it planned to close about 200 of its core banner stores over two years, as part of its broader turnaround efforts. It’s also in the midst of remodeling locations to reduce clutter and add brighter signage and new brands.
    When Bed Bath reported its fiscal third-quarter results on Wednesday, the home goods retailer said it has closed roughly 170 locations thus far and is still on track to hit 200 by year-end.
    Chief Executive Officer Mark Tritton told analysts that the company will explore additional closures in the future. It also owns the BuyBuy Baby banner, which was a bright spot of the business during the latest quarter as sales in home and bath goods at Bed Bath slowed.
    “We are executing a full-scale transformation and simultaneously running a business in a highly unpredictable environment,” said Tritton during an earnings conference call.
    Bed Bath shares are down about 31% over the past 12 months.

    Here’s the list of 37 Bed Bath & Beyond locations slated to close early this year:
    Alabama

    Oxford: 1000 Oxford Exchange Blvd.

    Arizona

    Casa Grande: 1004 North Promenade Parkway
    Yuma: 1212 South Castle Dome Ave.

    California

    Campbell: Almarida Place, 515 East Hamilton Avenue
    Laguna Niguel: 32391 Golden Lantern
    Milpitas: 147 Great Mall Drive
    Rancho Santa Margarita: 22235 El Paseo
    Tustin: Tustin Market Place II, 13692 Jamboree Road

    Florida

    Orange City: 963 Harley Strickland Blvd.

    Georgia

    Atlanta: 130 Perimeter Center West
    Marietta: 4475 Roswell Road

    Idaho

    Pocatello: 1732 Hurley Drive

    Michigan

    Jackson: 1132 Jackson Crossing

    Minnesota

    Duluth: 1303 Miller Trunk Highway
    Eagan: 1295 Promenade Place

    Missouri

    St. Joseph: 5201 North Belt Highway

    Mississippi

    Meridian: 131 S. Frontage Road

    New Jersey

    Edgewater: Edgewater Commons, 489 River Road

    New York

    Auburn: Auburn Plaza, 217 Grant Ave.
    Canandaigua: 328 Eastern Blvd.
    Glenmont: 388 Feura Bush Road
    Niagara Falls: 1520 Military Road
    Plainview: 401 S. Oyster Bay Road
    Port Chester: 25 Waterfront Place
    Spring Valley: 14 B Spring Valley Marketplace

    Ohio

    Mansfield: Ontario Towne Center, 2259 Walker Lake Road

    Pennsylvania

    Pittsburgh: 7507 McKnight Road
    York: 2845 Concord Road

    Texas

    Brownsville: Sunrise Palms Shopping Center, 3000 Pablo Kisel Blvd.
    San Angelo: 4169 Sunset Drive

    Virginia

    Vienna: 2051 Chain Bridge Road

    Washington

    East Wenatchee: 511 Valley Mall Parkway
    Longview: 200 Triangle Center
    Seattle: 2600 SW Barton St.
    Union Gap: 1740 East Washington St.

    Wisconsin

    Sheboygan: Memorial Mall, 3347 Kohler Memorial Drive

    West Virginia

    Triadelphia: 555 Cabela Drive

    USA Today first reported on the locations expected to close this year.

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    Stocks making the biggest moves premarket: GameStop, T-Mobile, Sonos and others

    Check out the companies making headlines before the bell:
    GameStop (GME) – GameStop surged 14.3% in the premarket on reports that the videogame retailer is starting a new division to focus on cryptocurrency partnerships and NFTs.

    T-Mobile (TMUS) – T-Mobile reported fourth-quarter postpaid net subscriber additions of 844,000 and total 2021 additions of about 2.9 million. The fourth-quarter numbers for the wireless service provider were below consensus estimates of 868,000, and the stock fell 1.8% in premarket trading.
    STMicroelectronics (STM) – STMicro issued preliminary fourth-quarter revenue figures that were higher than analysts were anticipating. The chip maker’s sales came in at $3.56 billion, compared with a consensus estimate of $3.41 billion, amid increasing demand and a worldwide chip shortage. STMicro shares jumped 4.2% in premarket action.
    Sonos (SONO) – The speaker maker’s stock rallied 4% in the premarket, following an International Trade Commission ruling that Alphabet’s Google infringed on some Sonos audio patents in its Nest speakers. Google plans to appeal the decision.
    Quidel (QDEL) – Quidel said it expects to report revenue of $633 million to $637 million for the fourth quarter, well above the consensus estimate of $466 million. The diagnostics company is benefiting from increased demand for its Covid-19 tests, as well as tests for other diseases. Quidel gained 4.8% premarket trading.
    DraftKings (DKNG) – The sports betting company’s stock added 2% in the premarket, ahead of the launch of legal mobile sports betting in New York State, beginning Saturday morning.

    Visa (V) – Visa slid 1.4% in premarket trading after Mizuho downgraded the stock to “neutral” from “buy.” Mizuho cites what it sees as the permanent shortening of the “cash-to-card conversion runway” as well as increasing competition.
    Trade Desk (TTD) – The provider of programmatic advertising technology was upgraded to “buy” from “hold” at Jefferies, based on a number of key catalysts including conservative consensus estimates and a new partnership with Walmart. The stock added 4.6% in the premarket.
    Discovery (DISCA) – The media company’s stock was upgraded to “buy” from “neutral” at BofA Securities, which feels that Discovery’s upcoming merger with WarnerMedia has the potential to create a “global media powerhouse.” Discovery added 3.8% in premarket action.
    New York Times (NYT) – The newspaper publisher announced a deal to buy sports news site The Athletic for $550 million, following earlier reports that a transaction had been finalized. New York Times shares fell 1.4% in the premarket.
    Acuity Brands (AYI) – The provider of building management systems reported an adjusted quarterly profit of $2.85 per share, beating the $2.41 consensus estimate, with revenue also topping Wall Street forecasts. Acuity Brands said the company performed well in the face of supply chain challenges and unpredictable market conditions.

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    Goldman-backed digital bank Starling boycotts Meta over scam ads

    Starling CEO Anne Boden said her firm would no longer pay for advertising on Facebook and Instagram while scammers target customers.
    Boden has been pressuring the U.K. government to address financial fraud in new laws seeking to tackle online harms.
    While Google has already tightened its rules on financial ads, Meta is yet to take similar action.

    The Facebook and Instagram logos displayed on a smartphone with the Meta Platforms logo pictured in the background.
    Igor Golovniov | SOPA Images | LightRocket | Getty Images

    LONDON — British digital bank Starling says it is boycotting Facebook parent company Meta over its failure to tackle fraudulent financial adverts.
    Anne Boden, Starling’s CEO and founder, said her firm would no longer pay for advertising on Facebook and Instagram while scammers were targeting its customers.

    In an annual letter published Thursday, Boden said: “We want to protect our customers and our brand integrity. And we can no longer pay to advertise on a platform alongside scammers who are going after the savings of our customers and those of other banks.”
    Boden has been pressuring the U.K. government to address financial fraud in the Online Safety Bill, a sweeping set of legislation that seeks to tackle the spread of harmful content on digital platforms.
    The Online Safety Bill would place a duty of care on Big Tech companies such as Meta and Google, requiring them to take action against harmful and illegal material. Companies that fail to do so would risk facing penalties of £18 million ($24 million) or 10% of their annual global revenues, whichever amount is higher.
    Last month, a committee of lawmakers scrutinizing the bill recommended that the new legislation should cover scam ads. The U.K.’s Financial Conduct Authority has previously raised the alarm about adverts promoting investment scams. These include cryptocurrency scammers using the images of celebrities to defraud consumers, for example.
    In August, Google stopped accepting ads for financial services unless the advertiser was authorized by the U.K.’s Financial Conduct Authority, or qualified for certain exemptions. Meta in December made a commitment to tighten its policies on financial advertising, however the firm is yet to implement these changes. Meta says it expects to do so later this year.

    “Promoting financial scams is against our policies and we’re dedicating significant resources to tackling this industry-wide issue on and off our platforms,” a Meta spokesperson told CNBC.
    “To fight this, we work not just to detect and reject scam ads on our services, but also block advertisers. While no enforcement is perfect, we continue to invest in new technologies and methods to protect people on our service from these scams.”

    Meta already has policies banning promotion of financial fraud, such as loan scams and schemes that promise high rates of returns. And the company says it prohibits ads that promise unrealistic results or guarantee a financial return.
    Boden also took aim at Facebook’s rebrand to Meta and its pivot to the so-called “metaverse,” a shared virtual reality in which users can interact with each other.
    “When I read that Facebook’s next big project, the Metaverse, is predicted to be the key driver of the growth of finance and DeFi (Decentralised Finance) in the 2020s and beyond, I know that this is likely to be both wrong and right,” she said, citing an attempt by one bank to give its customers advice in the much-hyped virtual world Second Life.
    Second Life, which failed to take off in a big way, is now viewed by some as a precursor to the metaverse.
    “While Facebook (Meta) may hold out all sorts of promises for the future, I really hope its focus on the Metaverse doesn’t become a distraction from doing what is right today, here and now in the UK of 2022,” Boden added.
    Founded in 2014, Starling has become one of the U.K.’s largest digital banking brands, with a customer base of 2.7 million. With 475,000 business accounts, the firm also controls a 7% share of the U.K.’s business banking market.
    The bank counts Goldman Sachs, the Qatar Investment Authority and Fidelity as investors, and was last valued at $1.5 billion. Its competitors include the likes of Revolut and Monzo, which were last privately valued at $33 billion and $4.5 billion, respectively.
    Boden’s attempt to pressure Meta into taking action against online fraud follows mass boycotts from major brands, which temporarily paused advertising on Facebook in 2020 for not doing enough to censor hate speech.

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    Supreme Court to hear challenges to Biden vaccine mandates

    The Supreme Court is set to hear oral arguments in two cases challenging the Biden administration’s Covid vaccination and testing requirements for private businesses and health-care workers.
    President Biden had issued the mandates before the first detection of omicron variant, which has since spurred record infection rates nationwide.
    The debate centers on whether the federal government has the authority to enforce the sweeping public health measures.

    A protester holds a banner at a rally against mandates for the vaccines against the coronavirus disease (COVID-19) outside the New York State Capitol in Albany, New York, U.S., January 5, 2022.
    Mike Segar | Reuters

    The Supreme Court on Friday is poised to hear oral arguments in two cases challenging the Biden administration’s Covid vaccination and testing requirements for private businesses and health-care workers.
    Arguments are set to start at 10 a.m. ET.

    The debate, which centers on whether the federal government has the authority to enforce the sweeping public health requirements, arrives at the high court as the worldwide pandemic enters its third year.
    The rules’ challengers include business associations, Republican-led states and religious groups.
    The Occupational Safety and Health Administration’s rule, which requires workers to get vaccinated or be tested for Covid on a weekly basis, applies to companies with 100 or more employees. The rule from the Department of Health and Human Services would require vaccination for health-care workers in facilities that treat Medicare and Medicaid patients.
    The two mandates cover roughly two-thirds of all U.S. workers — about 100 million Americans, according to the White House.
    President Joe Biden issued the mandates in early November, weeks before the first detection of the highly transmissible omicron variant drove infection rates to staggering new highs around the country.

    Days later, the U.S. Court of Appeals for the 5th Circuit blocked the mandate for businesses from taking effect, with a three-judge panel ruling that its requirements were “staggeringly overbroad.”
    But another federal appeals court reinstated the rule in December, ruling that OSHA has historically had wide latitude to enact safety measures, highlighting the danger to workers posed by the pandemic.
    Early data suggest omicron infections tend to be less severe than prior iterations of the coronavirus, though vaccination remains an effective defense against hospitalization and death from Covid, health experts say.
    All nine justices of the Supreme Court have been vaccinated against Covid, and all have received booster shots. The court has heard arguments remotely for much of the pandemic, livestreaming audio of the proceedings for the first time in its history. They returned to in-person arguments last October, while keeping the building closed to the public and implementing other pandemic-related safety measures.
    This is a developing story. Check back for updates.

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    Bitcoin slumps to a three-month low as cryptocurrencies extend losses

    The price of bitcoin fell to $41,222.41 just after 9 p.m. ET Thursday, reaching its lowest level since Sept. 29, according to data from Coin Metrics.
    Hawkish comments from the Federal Reserve this week triggered a sell-off in global stock markets which spilled over into cryptocurrencies.
    An internet shutdown in Kazakhstan, the world’s second-largest bitcoin mining hub, is also weighing on crypto prices.

    Chukrut Budrul/SOPA Images/LightRocket via Getty Images

    Bitcoin dropped to a three-month low late Thursday amid jitters over U.S. monetary policy tightening and an internet shutdown in Kazakhstan, the world’s second-biggest bitcoin mining hub.
    The price of bitcoin fell to $41,222.41 just after 9 p.m. ET Thursday, reaching its lowest level since Sept. 29, according to data from Coin Metrics. It was last trading down 0.6% at a price of $42,391.20 Friday morning.

    The world’s largest cryptocurrency began falling earlier this week after the minutes from the Federal Reserve’s December meeting hinted the U.S. central bank would dial back its pandemic-era stimulus.
    The hawkish comments triggered a sell-off in global stock markets which spilled over into cryptocurrencies. Bitcoin bulls often describe it as an asset that is uncorrelated to traditional financial markets, however experts have noticed growing parallels in the price movements of bitcoin and stocks.
    Other digital currencies continued to slide Friday, with ethereum shedding 2.3% and solana falling 4.7%.

    Another piece of news weighing on crypto prices is the Kazakhstan president’s move to shutter internet service following deadly protests against the government.
    The Central Asian country accounts for 18% of the bitcoin network’s processing power, according to the Cambridge Centre for Alternative Finance. Many crypto miners fled China for neighboring Kazakhstan over Beijing’s ban on virtual currency mining.

    Kazakhstan’s internet shutdown took as much as 15% of the network offline, according to some estimates.
    Bitcoin’s computing power “is not directly correlated to the price of Bitcoin, but it gives an indication of the network’s security, so a fall can spook investors in the short term,” Marcus Sotiriou, analyst at U.K.-based digital asset broker GlobalBlock, said in a note Thursday.

    – CNBC’s Mackenzie Sigalos contributed to this report

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    Most expensive home in America lists for $295 million, may head to auction

    A 105,000-square-foot Los Angeles megamansion known as “The One” listed Friday for $295 million, making it the most expensive listing in the U.S.
    It was built by Nile Niami, who promoted it as the “biggest and most expensive modern home in America,” with an eventual asking price of $500 million.
    The megamansion was placed into receivership last year.
    If it doesn’t sell quickly, “The One” heads to auction in February as part of a bankruptcy agreement and will be sold to the highest bidder.

    A 105,000-square-foot megamansion, known as “The One,” in the Bel Air section of Los Angeles listed Friday for $295 million, making it the most expensive listing in America.
    The property, which has been a decade in the making, would be the most expensive home ever sold in the U.S. if it gets its asking price — surpassing hedge-funder Ken Griffin’s $238 million purchase of an apartment in Manhattan. If it doesn’t sell quickly, “The One” heads to auction in February and will be sold to the highest bidder.

    The rear of the home opens to a massive lawn framed by a moat-like water feature and a 400 ft. running track just below it.
    Marc Angeles

    “It’s a modern masterpiece,” said Branden Williams, of The Beverly Hills Estates, which is representing the property along with Aaron Kirman of Aaron Kirman Group at Compass. “It’s four acres at the top of a mountain in Bel Air, and it can never be built again.”
    Along with a record-setting price, “The One” also comes with a history of drama, lawsuits and debt. It was built by Nile Niami, a Hollywood-producer-turned-developer, who promoted it as the “biggest and most expensive modern home in America,” with an eventual asking price of $500 million.

    The mansion’s foyer includes 25-foot ceilings, a large serpent-like sculpture and panoramic views of downtown LA.
    Joe Bryant

    As costs soared, Niami’s debt on the house grew to more than $180 million. The megamansion was placed into receivership last year. As part of a bankruptcy agreement struck last month, it was scheduled to be sold at an auction, beginning Feb. 7.

    “The One” is situated on 3.8 acres with much of the residence surrounded by a moat-like water feature.
    Marc Angeles

    People involved in the court process said “The One” would have to sell for around $200 million just to pay back the debt, including the auction fees and other costs. If it sells for less, the lenders may have to take a loss, or the property could wind up in further foreclosure litigation.

    An ideal time for LA’s luxury market

    Yet lenders and brokers hope the property is coming to market at an ideal time. Luxury real estate in Los Angeles is breaking records. Sales of properties priced at $10 million or more doubled in 2021 compared with 2019, before the pandemic, with a total of 312 sales, according to Miller Samuel.

    The formal dining room includes seating for 20 and an over-sized glass wine cellar for displaying large-format bottles.
    Marc Angeles

    Marc Andreesen just set a record in California after he paid $177 million for a compound in Malibu, while Coinbase CEO Brian Armstrong paid $133 million for a modern mansion, located near “The One” in Bel Air.
    Brokers say interest in “The One” has already been strong. Williams said he has two offers on the table — one from a Saudi royal and one from a wealthy Chinese buyer. He said more offers are expected soon from crypto buyers who are “looking at this house as their own space station.”

    The megamansion is sometimes referred to as “the space station” because of its massive size and unusual shape.
    Marc Angeles

    “There is going to be huge demand for this property,” he said. “Demand for U.S. real estate is through the roof because the dollar is weak and people want real tangible assets.”
    Kirman added that the property is more than a house — it’s a full-scale private resort for “the billionaire buyer who wants all-inclusive living.”

    The home’s lower level includes a full-service salon equipped with shampoo stations, pedicure chairs and a hair and make-up area.
    Joe Bryant

    The home sits on 3.8 acres and features 21 bedrooms and 42 bathrooms. Built on a leveled mountain, it has views of the Pacific Ocean, downtown Los Angeles and the San Gabriel Mountains. It has seven water features, including a massive moat that runs around the property. It has a nightclub, a full-service beauty salon, a wellness spa, a home theater that seats 40, a bowling alley, a 10,000-bottle wine cellar, 30-car garage and a 400-foot private outdoor running track.

    The view from the primary bedroom where retractable glass walls open to a wraparound balcony overlooking LA.
    Marc Angeles

    For guests or staff, it has a three-bedroom guest house with its own infinity pool.
    Still, any buyer of “The One” will also have to contend with a thicket of financial and legal issues. According to the receiver’s report and an engineering study, the house has cracks in and around many of the pools and stonework, as well as signs of mold. It has several outstanding building and occupancy permits, and a local homeowner’s association is challenging its construction.

    The meaghome’s 10,000 sq. ft. roof deck includes a golf green with impressive views of downtown.
    Joe Bryant

    Niami’s last-ditch effort

    In part because of “The One” and other megamansions built nearby, local building laws were changed in recent years to prevent other supersized homes from ever being built again — which brokers say only adds to the value of “The One.”

    Developer Nile Niami (left) walks with CNBC’s Robert Frank (right) during a 2017 interview at “The One” while the megahome was under construction.

    The lenders also continue to battle each other in bankruptcy court over procedures and priority. Niami weighed in with his own last-ditch effort last month, releasing a video saying he hoped to turn the home into a crypto investment, selling a new token to investors called “The One Coin” that would be backed by the property.

    The four-lane bowling alley on the home’s subterranean level.
    Joe Bryant

    “Hopefully, there’s someone out there that is going to want to walk hand in hand with me into the stratosphere,” Niami said in a video. He declined further comment, and lenders and lawyers have dismissed Niami’s plans.
    Ultimately, Kirman said, the 10 years of drama around the house won’t deter buyers once they tour the property.

    The megahome’s view of Los Angeles at dusk.
    Marc Angeles

    “Its controversial history is no secret,” he said. “But when a potential buyer walks the site they’ll see the opportunity is so extraordinary that the past won’t really matter anymore.”
    The auction, held by Concierge Auctions, is scheduled to run Feb. 7-10. Bidders would have to wire $250,000 and show proof of funds to qualify for bidding.

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