Day: December 15, 2022

Time for Serious Global Crypto Regulation, Germany Says – Regulation Bitcoin News

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Germany’s financial watchdog has issued a call for global regulation of the crypto industry in the aftermath of the FTX collapse. The hands-off approach was wrong, the head of the agency says, insisting it’s time to protect consumers as the sector expands links with traditional finance. Bafin President Convinced Self-Regulation Won’t Work for Crypto The man at the helm of the Federal Financial Supervisory Authority of Germany (Bafin) has urged for global regulation of the cryptocurrency space. This would ensure better protection for consumers, prevent money laundering and preserve financial…

Cathie Wood Adds $3.2 Million Worth of COIN Shares to Portfolio

With the new $3.2 million in shares, Cathie Wood’s Ark Invest may now boast a total of $5.8 million COIN shares in its portfolio. Ark Invest CEO Cathie Wood has shown how much she is invested in “buying the dip” after throwing around some amount of cash to buy more Coinbase (COIN) and Tesla (TSLA) shares. That is about 297,000 COIN shares and 75,000 TSLA shares, per a Bloomberg report. Moreso, the purchase goes to show that the investment firm holds a high level of conviction about the shares of…

Planet Releases Fiscal Reports for Q3 2022

In Q3 2022, the company’s gross margin rose from 34% to 50%, while its EOP increased by 16% to 864 customers. Popular satellite imagery and data company Planet (NYSE: PL) announced its financial report for Q3 2022, outshining the previous year’s performance. The company gained a 57% year-on-year increase with record revenue of $49.7 million, reducing its EBITDA loss to $12.4 million. Following a fiscal calendar that ends on January 31st, the company hopes to generate an annual revenue ranging from $188 to $192 million. An evaluation of the percent…

Vkontakte, Russian Social Media Giant, Introduces NFT Service

Users of Vkontakte can show these tokens in the form of avatars or in a special showcase in the profile by linking their crypto wallets to their accounts. Social media platforms worldwide have been adopting non-fungible tokens (NFT) and Vkontakte, the largest social media network in Russia, has joined the bandwagon. As per the latest details, Vkontakte will allow users to upload their digital collectibles to the platform. Additionally, account holders on Vkontakte will also be able to buy and sell them in the future as the company is willing…

Kevin O’Leary Blames Binance for FTX Crash

O’Leary emphasized that the share purchases and FTT token sales both affected FTX’s balance sheet. Shark Tank investor Kevin O’Leary blamed popular crypto exchange Binance for the FTX crash while speaking at the Senate Committee hearing on the 14th of December. According to the Canadian entrepreneur. Binance caused FTX to collapse on purpose. In October, FTX was one of the reigning crypto exchanges, with millions of users globally. From being one of the biggest exchanges on earth, the crypto company collapsed in the twinkle of an eye. The sudden misfortune…

Bitcoin Price Rises to $18,000 Temporarily

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Given the slight price uptick before the FOMC announcement, some analysts believe this is the time to buy the dip as a Bitcoin rally is imminent. The price of Bitcoin tested the $18,000 mark for the first time since November 8 before retracing below $17,000. It was the first time since the FTX collapse that the asset traded above $18,000. Following a rather dour year for cryptocurrencies, Bitcoin and other crypto assets were beginning to rally in early November before the FTX news broke. At that time, Bitcoin was trading…

Visa Plans for $1 Billion Investment in Africa over Next Five Years

VISA said that this new investment will help towards greater financial inclusion in the underbanked African continent. In a major announcement on Wednesday, December 14, payments giant Visa revealed that they are planning to invest a massive sum of $1 billion by 2027 in Africa. This comes as the part of company’s initiative to expand its footprint and ride on the digital payments boom in the region. Chairman and CEO of Visa Inc AI Kelly announced this pledge on Wednesday while speaking at the US-Africa Business Forum. This is a…

Goldman Remains Cautious on Tesla Stock but Projects It Will Do Well Long-Term

Having taken a prolonged beating, Tesla stock stokes fresh concern as Goldman cuts price target and Twitter worries alienate investors. Tesla Inc (NASDAQ: TSLA) stock recently fell after Goldman Sachs cut its price target from $305 to $235. However, the banking giant maintained its Buy rating on the electric vehicle maker’s stock due to positive long-term prospects. Explaining the optimism for Tesla, Goldman analyst Mark Delaney said: “We believe that Tesla remains well positioned for long-term growth as an EV cost structure and full solution leader (e.g. providing vehicles, charging, storage, software and…

Bitcoin Price Poised To Continue Its Rally As Whales Pivot

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The bitcoin price has seen a minor rally ahead of yesterday’s FOMC meeting and has held relatively strong despite the hawkish outlook from the US central bank.  A look at the daily chart of BTC shows that the price managed to hold above $18,600. After an exuberant euphoria following the release of CPI data, bitcoin seems ready for a consolidation phase for now. In the daily chart, the bitcoin price was rejected at $18,220. Therefore, it seems likely that bitcoin will go through consolidation for now and look for a higher…