Day: December 9, 2022

Amber Group Terminates Sponsorship Deal with Chelsea FC, Lays Off 40% Staff

Amber Group has halted its sponsorship deal with Chelsea and is looking to downsize its workforce as the crypto winter bites hard. Amber Group has reportedly terminated its $25 million sponsorship deal with Premier League football club Chelsea FC. The Singapore-based crypto trading firm views the severance of this business relationship with Chelsea as a necessity. Like several crypto-focused companies, Amber Group has been feeling the brunt of the bearish market and is trying to cut costs. The crypto trader also looks to downsize its workforce by 40%, which translates to…

Li Auto Q3 2022 Outing Sees Revenue Rise 20%, Costs Widen Further

Although Li Auto realized a substantial revenue increase for Q3 2022, the company’s operating costs also rose.  Li Auto Inc (NASDAQ: LI) recently posted its Q3 2022 earnings report, which revealed a wide quarterly deficit despite a 20% increase in revenue. For the third quarter, the Chinese electric vehicle manufacturer raked in revenue of $1.31 billion but missed the consensus estimate by $60 million. Li Auto’s vehicle sales surged 23% on higher average selling prices, with the delivery of some models beginning in late August. However, the EV maker also…

Apple’s New Encryption Is a Huge Boon for Crypto

The new Apple systems will benefit crypto more directly in two other ways. First, they will have some direct impact on the security of things like crypto keys and wallets. Whether through negligence or truly bad judgment, some crypto users have been known to store their security keys in iCloud backups. That makes them vulnerable to both hackers and, in one notorious instance, the FBI – but with Apple’s new encryption, that risk will be massively reduced. Source

Understand Music NFTs and How to Earn Money by Streaming Your Favorite Tunes

Both artists and the public are seeing the benefits of joining the ecosystem – the Web3 decentralized character allows for user input and ownership. Music is now one of the many areas that NFT adoption is sweeping over. More musicians, DJs, and vocalists are using blockchain technology every day. NFTs, or non-fungible tokens, are made to be distinctive digital goods. They are virtual objects that mimic real things like music, video content, artwork, and other in-game components. They are, in other words, digital certificates that are stored on a distributed…

GoTo Gojek Stock Plummets 7% Despite Assurance of Healthy Financials

Just last month, the firm announced it retrenched 12% of its workforce. Indonesian internet company GoTo Gojek Tokopedia PT Tbk (IDX: GOTO) has seen a continuous and consistent drop in its shares as investor sentiments grow bearish across the board. After a 7% stock price drop to IDR 93.00, GoTo Gojek has now effectively shed off as much as 60% of its value from November and by over 70% since it went public. GoTo Gojek is notably one of the major casualties of this year’s economic downturn. The company’s woes…

Everything You Need to Know About the Best Crypto Tokens to Buy for Your Christmas FOMO – Chiliz and Cryptoons

Place/Date: – December 9th, 2022 at 2:30 pm UTC · 3 min read Source: Cryptoons Photo: Cryptoons Many things about the ecosystem were unknown during the coin market’s early days. As the coin market has grown extensively over the past decade, many people have come to terms with what goes on in the crypto space. They have learned the importance of decentralization and blockchain technology. The crypto space has grown exponentially, from a simple ecosystem of a few coins to a full-blown financial market. Today, there’s a bulk of historical…

Amber Group ditches expansion plans after denying insolvency: Report

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Cryptocurrency trading firm Amber Group is putting its expansion plans on hold despite the FTX contagion having “no disruption” to its daily operations, according to a senior executive. Amber has scrapped plans to expand in Europe and the United States as a consequence of exposure to the now-defunct exchange FTX and will focus on institutional clients in Asia, according to managing partner Annabelle Huang. Huang also said that Amber has been forced to deprioritize its new metaverse project due the FTX contagion, the Financial Times reported on Dec. 9. Apart…

Rocketize Token Might Revolutionize the Altcoin Market alongside Decentraland and Chiliz

Deflationary tokens like Rocketize (JATO) are designed to improve the quality of the cryptocurrency market and the value of the cryptocurrency subsequently. Deflationary tokens can create favorable market conditions for other altcoins like Decentraland (MANA) and Chiliz (CHZ). Rocketize (JATO) employs a token burn system. This system is designed to keep the circulation of the total token supply in check and stage off whales from taking advantage of the community’s interest and welfare. This article will be discussing on the benefits of making Rocketize (JATO) your next financial investment. Strengthening…

EU’s McGuinness Urges Speedier Vote on Long-Delayed Crypto Laws

“Recent events have highlighted once again the importance of having adequate regulation of crypto markets” to protect client assets and the wider economy, McGuinness, commissioner for financial services, said in the letter to Irene Tinagli, chair of the European Parliament’s Economic and Monetary Affairs Committee, and Zbyněk Stanjura, the Czech finance minister who chairs governmental talks on the law. Source

Sam Bankman-Fried, CZ Battle It Out on Twitter Over Binance’s Exit from FTX

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