Month: May 2023

Twilio Generates $1.01B in Revenue per Q1 2023 Report  

As stated in the Twilio Q1 2023 report, the net loss per share of GAAP loss and non-GAAP loss were $1.84 and $0.47 respectively. Cloud-based communication platform Twilio (NYSE: TWLO) has unveiled its financial results for the first quarter of 2023. The company reported a revenue of $1.01 billion in the first three months of 2023, a 15% increase from the previous year’s record. Notably, analysts expected Twilio to announce revenue of $1 billion in its fiscal reports in Q1 2023. Twilio has structured its company to operate profitably, irrespective of…

Rivian Reports Mixed Q1 2023 Results, RIVN Shares Up 5.5% After Hours

Rivian previously announced that it produced 9,395 electric vehicle units during the first quarter of 2023 but managed to deliver 7,946 vehicles to customers. Rivian Automotive Inc (NASDAQ: RIVN), an American electric vehicle manufacturer, announced its Q1 2023 financial earnings results. During the first quarter, Rivian reported a net loss of about $1.349 billion compared to $1.593 billion recorded during the first quarter last. According to analysts surveyed by Refinitiv, the expected loss per share was about $1.59, versus $1.25 reported during the first quarter. Notably, the automotive electric company…

Biden calls to end $18B ‘crypto tax loopholes’ — community begs to differ

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United States President Joe Biden recently shared an infographic on Twitter, calling to end “tax loopholes” that allegedly help wealthy crypto investors. Community members responded to the tweet, questioning the figures shared by the president and if the said loopholes exist.  Cutting such loopholes would save about $18 billion, according to Biden. However, the president did not provide any information on which loopholes existed and what reforms would lead to the potential savings amount the president shared.  We don’t have to guess what MAGA House Republicans value. They’re telling us.…

Hong Kong to Have Tight Crypto Regulations, Head of Monetary Authority Says – Regulation Bitcoin News

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Companies attracted by the plan to turn Hong Kong into a hub for digital assets should expect strict regulations, the region has indicated. Authorities are preparing new licensing rules for service providers working with cryptocurrencies and guidelines for banks interacting with crypto firms. Crypto Hub Hong Kong Has No Intentions to Adopt ‘Light-Touch’ Regulations Hong Kong’s central banking institution has made it clear that crypto companies enticed by the city’s attempt to establish itself as a hotspot for digital-asset business will not operate under very lax regulations. In an interview…

EU embraces blockchain, launches official platform to transform data management

The European Blockchain Services Infrastructure (EBSI) is launching a publicly accessible blockchain platform in collaboration with Norway and Liechtenstein. The regulated and permissioned blockchain will transform data management with its security and transparency. JUST IN: EU Develops its Own Official Blockchain. Belgium aims to transform EBSI technical project into political projects during its European presidency in 2024, according to a minister. — Crypto Research Group (@CRG_crypto) May 9, 2023 Distributing nodes To promote blockchain adoption across the European Union (EU), the new initiative will see Germany, the largest economy in…

Crypto Industry Asks UK Gov to Think Globally as a Consultation on Proposed Rules Closes

When constructing a market abuse regime, the U.K. needs to ensure what it sets out is compatible with other jurisdictions that host global crypto companies and can work with standard-setters like the International Organization of Securities Commissions, Group of Seven (G7) and Group of 20 (G20), said Nick Taylor, head of policy in Europe, Middle East and Africa at U.K.-based exchange Luno. Luno, like CoinDesk, is owned by Digital Currency Group. Source

Ethereum’s total value locked hits new all-time high

The quantity of locked ethereum just hit 19,375,242 ETH, setting a new all-time high for the cryptocurrency. The total value locked (TVL) currently stands at $27.7 billion. ETH locked* hit an all-time recently at 19,375,242 ETH When you zoom out, the withdrawals seem like a dip for ants *All ETH that is “out of circulation”:• ETH staked on Beacon chain• ETH deposited to the beacon contract but not validating yet• Rewards on the Beacon chain pic.twitter.com/N1jyR7hcBO — Nansen 🧭 (@nansen_ai) May 9, 2023 This milestone comes after what may be…

Aragon launches defensive measures against Arca’s ‘51% attack’

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Aragon, an open-source framework designed to launch decentralized autonomous organizations (DAOs), has pulled plans for its native Aragon (ANT) token holders to be given voting rights over the future direction of the organization. The Aragon Association, a Switzerland-based organization that oversees the management of Aragon said in a May 9 tweet it exercised its “fiduciary duty” to secure its treasury and overall mission by “repurposing the Aragon DAO as part of a new grants program.” The decision was made after the recently launched Aragon DAO suffered a 51% attack at…