‘Magnificent seven’ tech stocks tumble a whopping $280B as crypto surges
Google’s parent company Alphabet was the worst performer on the day, falling 9.5% in a massive $180 billion wipeout. Go to Source
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Metaverse division’s $4B loss drags on positive first quarter for Meta
Zuckerberg expects Reality Labs operating losses to increase year-over-year in 2023. Go to Source Powered by WPeMatico
Block’s Q4 Bitcoin revenue down 7% on crypto price decline
Block Inc. outperformed analyst expectations and saw its share price jump in after-hours trading, but its Bitcoin revenue dipped due to price declines. Go to Source Powered by WPeMatico
Silvergate Bank Becomes Most Shorted Stock in US, but Sees Boost With Citadel Securities Stake
Recent data shows that Silvergate Bank, a crypto-friendly financial institution, has become the most shorted stock in the United States, according to the Financial Industry Regulatory Authority. On Tuesday, Silvergate’s stock saw a rise after it was discovered that Citadel Securities holds a 5.5% stake in the bank, according to a Schedule 13G filing with … Read more
HODL! Tesla hangs onto all its remaining $218M in Bitcoin in Q3
The vehicle manufacturer’s latest earnings report for the third quarter shows it’s made no changes to its Bitcoin holdings since its huge sell-off in the second quarter. Go to Source Powered by WPeMatico
Zuckerberg unfazed about $2.8B metaverse division loss in Q2
“This is obviously a very expensive undertaking over the next several years,” said Mark Zuckerberg. Go to Source Powered by WPeMatico
Coinbase CEO has ‘never been more bullish’ even after $430M Q1 loss
“There are so many customers beating a path to our door that we have to have all hands on deck just to keep everything running,” Coinbase CEO Brian Armstrong explained on earnings call. Go to Source Powered by WPeMatico
Tesla Q2-2021 Earnings Call to Shed Light on Its Bitcoin Holdings
The upcoming Tesla Q2-2021 earnings call, which will be announced this Monday after market hours, will at last shed some light on what has happened with the company’s bitcoin holdings. The company held more than 1.5 billion dollars in bitcoin on Q1 and has reported only one sale to “test the market’s liquidity” according to … Read more
JPMorgan Chase execs weigh in on stablecoin regulation, crypto competition
While the OCC’s new stablecoin guidance doesn’t have an impact on JPM Coin, it could lead to crypto payments if there’s demand Go to Source Powered by WPeMatico
