The case of too much oil and too little diesel in the world. With travel significantly reduced, the refining margin at some refiners has turned negative. However, the collapse in gasoline and jet fuel demand makes it difficult to produce enough diesel when inventories for unwanted fuels limit storage capacity.
A projected shortage in diesel might be the catalyst for wider adoption of freight and trucking logistic startups that introduce more price transparency and competition in the freight market.
Libra's new white paper 2.0 scaled-back ambition and included more compliance measures. It outlines the inclusion of single-currency stablecoins as opposed to global basket previously envisaged, which has been criticized for its potential to interfere with monetary sovereignty/policy. Single currency linked stablecoins help simplify the design and can be implemented as a smart contract backed by their own reserves in local currency. The paper also provides details on Libra Reserve – 80% held in ST Govt. Secs, 20% held in cash with overnight sweeps into MMF's. Libra also hopes to directly integrate Central Bank Digital Currencies into its ecosystem in due course, eliminating the need to manage the Libra Reserve. Read more.
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Funding & Deal Highlights: Ricovr Healthcare Announces $1.1m Seed Funding Figma Eyes Acquisitions, With $50 Million In Fresh Funding At $2 Bn Nexar Raises $52M in Series C Funding
Agtech Startup Pivot Bio Lands $100M Procore to Postpone IPO, Raise Funds at $5 Billion Value Terminus Acquires Ramble to Power Account-Based Conversations MobileIron Acquires incapptic Connect to Accelerate App Release Journey Vander-Bend Completes Strategic Acquisition Of TMK Manufacturing Dribbble Announces Acquisition of Top Design Marketplace Creative Market
More PPP might be needed
White House advisor Kudlow suggests more PPP loans might be needed. [Read More]
TikTok go after traditional TV
Upstart turned incumbent- TikTok has discussed producing a reality TV show [Read More]