Day: February 5, 2021

QCOM Stock Down 8.83% after Qualcomm Reported Revenues Below Expectations

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Qualcomm saw impressive growth in its business segments including its handset sales, RF Front end, Automotive, and IoT which collectively represents the QCT Revenue Stream. The shares of American technology firm Qualcomm Inc (NASDAQ: QCOM) have dipped by 8.83% following the report of revenues lower than Wall Street’s expectations. For the first quarter of the 2021 fiscal year, the chipmaker announced revenue of $8.23 billion as compared to the $8.27 expected. Despite the poor performance of the firm when compared to Wall Street’s expectations, the firm grew both its revenue…

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Snap Stock Down 7% Now, Snap Beats Expectations but Warns of Market Disruptions

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With the coronavirus still a threat to our normalcy, Snap stock investors remain optimistic about the company’s ability to deliver better results in the coming quarters. Snap Inc (NYSE: SNAP) stock extended yesterday’s dip during the pre-market session. After closing yesterday at $58.31, down 1.60%, Snap stock fell approximately 7% during the pre-market trading session. Notably, the drop in Snap stock was attributed to the mixed fourth-quarter earnings results released on Thursday. Snap reported better than expected results but warned of possible disruptions caused by Apple’s privacy changes in iOS…

YouTube boxer Logan Paul turns himself into an NFT Pokemon card

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Controversial YouTube celebrity Logan Paul has jumped on the nonfungible token, or NFT, bandwagon as part of his latest self-promotion. Decentralized e-commerce platform Bondly announced Feb. 4 that it will create a limited edition of 44 NFTs featuring a “holographic” image of Paul in his boxing gear mocked up as a Pokemon card. The NFTs will be distributed to auction winners in Paul’s upcoming Pokemon Box Break. The YouTuber recently acquired six unopened boxes of first edition Pokemon cards from over twenty years ago, dropping a cool $2 million on…

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3 Catalysts That Propelled Cardano (ADA) to Its Three-Year High

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ADA, a cryptocurrency backed by blockchain network Cardano, reached its best levels in the previous three years amid a major capital influx from Bitcoin to the altcoin market. The ADA/USD exchange rate hit $0.51 after rising more than 15 percent during the Asian session Friday. The pair’s gains appeared as a part of a broader upside move that saw its bids rising 181 percent year-to-date and 2,908 percent from its mid-March nadir $0.02. Cardano continues its explosive move higher against supportive catalysts. Source: ADAUSD on TradingView.com Cardano continues its explosive…

Australia’s Central Bank Says Bitcoin ‘Not Really Money,’ No Risk to Financial Stability

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The Reserve Bank of Australia has delivered somewhat dismissive comments on bitcoin at a meeting of the House of Representatives Standing Committee on Economics. According to a report by the Australian Financial Review on Friday, the central bank’s assistant governor for financial systems, Michelle Bullock, said there’s “a lot of fuss over bitcoin.” The comments were a response to Queensland Liberal National Party member Julian Simmonds, who’d asked the assistant governor if the bank viewed bitcoin and cryptocurrencies as a financial risk. “[Bitcoin] is not a payment instrument and it’s…

Travis Scher Launches $72M VC Crypto Fund Backed by Paul Tudor and Others

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The new VC crypto fund managed by Glenn Hutchins has already raised $72 million with investments coming from popular personalities of diverse industries. So far, the fund has already invested in seven startups within the space. On Thursday, February 4, Travis Scher, the former vice president of investments at Digital Currency Group (DCG) announced a new crypto VC fund backed by billionaire investors like Paul Tudor Jones as well popular hip-hop personalities like LL cool J. More importantly, it also has investors like Silver Lake Partners co-founder Glenn Hutchins. Details of…

Estonia’s crypto honeymoon at an end as stricter regulations loom

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Estonia’s finance ministry is reportedly looking to enact stricter crypto licensing regulations. This comes after the authorities revoked the licenses of about two-thirds of the cryptocurrency businesses operating in the country back in 2020. According to ERR News, the Estonian Ministry of Finance issued draft legislation back in January to tighten the noose on the country’s crypto industry. As part of the proposed rule changes, the Finantsinspektsioon — Estonia’s Financial Supervisory Authority — will oversee the regulation of cryptocurrency businesses instead of the Financial Intelligence Unit. This change will bring…