Day: December 21, 2022

Tesla (TSLA) Stock Tanks Another 8% amid Concerns of Musk’s Focus on Twitter

Concerns that Elon Musk might further dilute his Tesla holdings to fund the Twitter acquisition have put the TSLA stock under a free fall. Tesla Inc (NASDAQ: TSLA) stock continues to be under a free fall and tanked another 8% on Tuesday, December 20, ending the trading at $137.80. Since Elon Musk‘s takeover of Twitter, Tesla stock has corrected by more than 40%. There has been a growing concern within the investor community about Musk’s increasing focus on his latest acquisition of Twitter. Thus, citing Elon Musk’s Twitter distraction, a…

Meta Shares Up 3%, FTC Accuses Zuckerberg of Buying Company’s Way to Top of VR Industry

The hearing on Tuesday focused on Meta’s acquisition of Within, a VR company that makes a fitness app dubbed Supernatural. Meta Platforms Inc (NASDAQ: META) shares closed Tuesday trading at $117.09, up 2.28 percent from the day’s opening price. The gains extended during the after-hours trading session with approximately 0.74 percent. Under the leadership of Mark Zuckerberg, Meta has been accused of buying its way up the virtual reality (VR) industry by the Federal Trade Commission (FTC). In the past decade, Meta – formerly Facebook – had been developing its…

Consumers are crypto-curious —one in five own digital currency: Accenture

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Over the last year, the crypto space has endured lasting market volatility and scandals, which have negatively affected consumer trust in the industry. However, an end-of-the-year report from Accenture revealed that consumers are still holding crypto – and for the long term. According to Accenture’s 2022 Global Consumer Payments report, while many consumers still prefer traditional payment methods such as cash or credit card, one in five surveyed consumers now own a cryptocurrency. For those that hold crypto 28% say the choice to enter the crypto space is due to…

Next Financial Crisis Will Be From Crypto if It’s Not Banned: Indian Central Bank Governor

“Our view is that it should be prohibited because if you try to regulate it and allow it to grow, please mark my words the next financial crisis will come from private cryptocurrencies,” Das said. “They have no underlying value. They have huge inherent risks for our macro economic and financial stability. I am yet to hear any credible argument about what public good or what public purpose it serves.” Source

Nike Announces Fiscal 2023 Q2 Results, NKE Stock Surges

Executive Vice President and Chief Financial Officer Matthew Friend added: “Consumer demand for NIKE’s portfolio of brands continues to drive strong business momentum in a dynamic environment. We remain focused on what we can control, and we are on track to deliver on our operational and financial goals — setting the foundation for sustainable, profitable growth.” For the full fiscal 2023, the company’s leaders are expecting the revenue to grow ‘low teens on a currency-neutral basis.’ According to Matthew Friend, Q3 revenue growth is likely to be higher than Q4 due…

Alaska adds ‘virtual currency’ to its regulatory regime

From Jan. 1, 2023, the term “virtual currency” will take its place in the money transmission regulations of Alaska. It will oblige the companies dealing with digital currencies to obtain a money transmission license in the state.  As reported by the law firm Cooley on Dec. 19, the state of Alaska amended its money transmission regulations to include the definition of “virtual currency.” According to the amendment to the local Administrative Code, adopted by the Division of Banking and Securities (DBS), the virtual currency is: “[A] digital representation of value…

Large Cap Coins Touch December Lows

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As Bitcoin hits new lows at year-end, other large-cap altcoins have followed suit. There seems to be no love for crypto this year-end, as Santa has refused to show up. General Crypto Market Cap Plunges As it stands, crypto traders and investors seemed to have their hands up in resignation. Trading volume across major exchanges has been highly compressed. The general market capitalization across all digital assets is down around 2.6% monthly, at $774 billion. Crypto total market cap stands at $770 billion on daily chart. Source: TradingView The Bitcoin…

Crypto on-chain crime drama sees the good guys finally win

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The stories about people getting their private keys hacked or stolen are nothing new, with a number losing their life savings because of these thefts. However, in quite an anti-climax scene, a crypto user managed to save their crypto holdings despite losing their private keys. Harpie, an on-chain security firm, revealed an instance of on-chain crime drama where the good guys eventually won. One of the users in their Discord group reportedly raised concerns about the suspected theft of their private keys. When the firm looked into said customer’s wallet, someone…