Month: May 2023

Apple Partners with Broadcom to Develop USA-Made 5G Components

Given the significance of 5G technology in the advancement of consumer electronics and connectivity, Apple said it is spending tens of billions of dollars to develop this field in the US. Popular US tech giant Apple Inc (NASDAQ: AAPL) said it has signed a multibillion-dollar agreement with Broadcom Inc (NASDAQ: AVGO), a multinational semiconductor and infrastructure software firm to produce 5G components. Through the partnership, Broadcom will develop 5G radio frequency components, including FBAR filters, and advanced wireless connectivity components that will be utilized by Apple. Notably, the FBAR filters…

Alibaba Cloud to Downsize Headcount by 7%, with Layoff Signaling Beginning of Its Spinoff Process 

Alibaba Cloud has emerged as an early IPO candidate and will reportedly pursue a 7% staff layoff amid its ‘streamlined’ restructuring.  The cloud arm of Chinese e-commerce giant Alibaba Group (NASDAQ: BABA) has begun a layoff set to affect 7% of its total workforce. Sources describe the downsizing as part of broader measures to prepare Alibaba’s cloud division for a spinoff. Furthermore, sources add that the new standalone company would ultimately pursue an initial public offering (IPO). In late March, reports stated that Alibaba would split into six business groups capable of pursuing IPOs.…

8 ways crypto exchanges can help address liquidity concerns

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Globally, the young crypto industry struggles with image issues. The latest blow came in May 2023, when the U.K.’s Treasury Committee recommended that crypto trading and investment be regulated as gambling rather than as a financial service.  Setting aside the fairness or accuracy of the opinions of regulatory agencies and crypto-skeptical investors, it’s clear that the industry must take every possible step to earn the trust of outsiders. This includes the need for crypto exchanges to address liquidity concerns — not only to enhance exchanges’ trustworthiness and credibility, but also…

Bitcoin Price (BTC) Jumps to Key Price Resistance as Hong Kong Opens Crypto Trading For Retail Investors

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“This looks like a non-macro-related spot-based move, and the timing coincides with the news that Hong Kong will allow retail trading of BTC and ETH on licensed digital asset platforms as of June 1,” Noelle Acheson, author of the Crypto Is Macro Now newsletter, said in Tuesday’s edition. “This is not a total surprise – the ruling and the timing were largely expected. But confirmation matters more in a lacklustre market with headwinds coming from other vectors,” Acheson added. Original

IMF Predicts Positive Outlook for UK amid Broad Inflationary Worry

Per the IMF outlook, resilient demand in the context of declining energy prices can encourage a positive outlook for the UK economy in several ways. The International Monetary Fund (IMF) said it expects the United Kingdom to avoid a recession and maintain positive growth in 2023. According to a CNBC report, the IMF attributes this positive outlook to resilient demand and declining energy prices, which have encouraged economic growth. However, the IMF also characterizes the outlook as “subdued”, indicating that while growth is expected, it may not be robust. In…

MicroStrategy Shares Give Investors Better Crypto Exposure than Coinbase

The report says that macro drivers favor MicroStrategy shares in terms of the de-dollarization of the world economy. The German investment bank Berenberg said that investors seeking exposure to cryptocurrencies are better served if they buy the shares of MicroStrategy than those of Coinbase. A Monday report revealed to the media said that macro factors associated with the shares of MicroStrategy Inc (NASDAQ: MSTR) give investors a higher possibility of being in profit than if they went for the shares of Coinbase Global Inc (NASDAQ: COIN). Highlighting its preference for…

FastLane Labs Raises $2.3M in Seed Funding Round Led by Multicoin Capital

The talks with Multicoin started in late August of last year, when FastLane didn’t have a corporation or even a pitch deck to show investors, Watts said. The long fundraise period gave the FastLane legal team time to get the infrastructure in place. Other participants in the round included Polygon Ventures, Shima Capital, Delphi Ventures and Everstake Ventures, a41 Ventures and Symbolic Capital, the venture capital fund from Polygon co-founder Sandeep Nailwal. Source