Category: Analysis

Japan’s Largest Pension Fund Bleeding Money as Global Economic Turmoil Seeps Deep

While the Japanese government’s pension fund, the largest in the world posted its losses, there are a number of global business outfits that are recording similar losses. As the global economy continues to fight for resilience, the world’s largest pension fund, the Japanese Government Pension Investment Fund (GPIF) has recorded another quarter of loss as unveiled today. According to a report from CNBC, the GPIF reported a 0.97% loss on its investments in the quarter that ended December 31, 2022. The loss, which has a monetary value of 1.85 trillion…

Bill Gates Views Musk Agenda to ‘Put People on Mars’ as Imprudent Way to Spend Money

Bill Gates recently said Elon Musk looking to colonize Mars does not paint him in the best philanthropic light.  Microsoft (NASDAQ: MSFT) founder Bill Gates recently questioned the Mars colonization quest spearheaded by Tesla (NASDAQ: TSLA) CEO Elon Musk. In a media session, Gates opined that Musk’s long-held ambition of colonizing Mars is not a good use of money. According to the Microsoft co-founder and former CEO, the Mars funds would better serve humanity by facilitating vaccine development. Gates also suggested that he does not consider his fellow billionaire a good philanthropist, given his current priorities.…

Silvergate Bank Under Probe by US DOJ Over Dealings with FTX

While the current subject of the probe into Silvergate Bank appears speculative at this time, there is a deep tie between the financial institution and FTX. The shares of American financial services giant Silvergate Capital Corp (NYSE: SI) have plunged by 13.16% to $18.21 in the Pre-Market after reports emerged that the firm’s banking unit is under probe by the United States Department of Justice (DoJ). As reported by Bloomberg, the US DoJ’s fraud unit is in charge of the investigations and the regulators seek to explore whether the firm…

S&P Dow Jones to Oust Adani from Sustainability Index Following Accusations of Financial Malpractice

The S&P Dow Jones is removing Adani from its index, further adding to the Indian conglomerate’s mounting woes.  Dow Jones has announced plans to remove embattled Indian multinational conglomerate Adani Enterprises from its sustainability index. According to the Dow Jones, Adani’s removal will take effect from Tuesday, February 7th. “Adani Enterprises will be removed from the Dow Jones Sustainability Indices following a Media & Stakeholder Analysis triggered by allegations of stock manipulation and accounting fraud,” reads the announcement. Although Adani is yet to issue a retort to the S&P Dow Jones development,…

Alphabet Q4 2022 Financial Report Shows Earnings Miss as YouTube Struggles

Alphabet posted a less-than-savory Q4 2022 report that reflects the current tech downswing and looming recession.  Alphabet Inc (NASDAQ: GOOGL) recently posted its Q4 2022 results, which showed earnings miss on its top and bottom lines. As a result, the tech giant’s stock slid nearly 4% in the after-hours session, eroding some of its 7.28% earlier gains. Alphabet Q4 2022 Results by the Numbers On Thursday, Alphabet reported a revenue haul of $76.05 billion versus the markedly higher $76.53 billion analysts expected. In addition, the California-headquartered multinational also posted fourth-quarter earnings per…

Meta Platforms Shares Surge 23% to Record Best Day in Over a Decade

Positive Meta developments, including a good Q4 outing and rousing Zuckerberg’s comments, saw shares attain a decade-long positive phase. On Thursday, Meta Platforms (NASDAQ: META) shares surged by more than 23%, marking one of the stock’s best days in a decade. This positive development benefited from optimistic commentary by Meta CEO Mark Zuckerberg and a flurry of analyst upgrades triggered by the company’s solid Q4 outing. More on Meta Shares Decade-long Development In addition to seeing its best performance in a decade, Meta Platform’s shares also rose to their highest point since last September. At the time,…

Only Four Men Control 86% of All Tether (USDT) Assets in 2018

Tether CTO has rejected WSJ’s investigative report calling it a “clown article”. The report highlights the massive concentration of USDT control in the hands of a few. On Thursday, February 2, the Wall Street Journal published an investigative report highlighting the highly polarized distribution of USDT control by Tether founders. This is yet another report over the years of allegations put on Tether, which operates the world’s largest USDT stablecoin with $68 billion in circulation. The documents refer to the 2021 probes of Tether by the New York Attorney General…

Mastercard NFT Product Lead Quits, Says He Felt Neglected

The Product Lead at Mastercard said that he was a victim of harassment & emotional distress caused by a series of mismanaged processes, miscommunication, and internal inefficiency. On Thursday, February 2, Satvik Sethi – the non-fungible tokens (NFT) product lead at Mastercard – resigned from his role while minting his resignation letter from the global payments giant, in the form of an NFT. In a series of tweets, Sethi explained his decision of leaving adding that it “wasn’t easy”. Sethi further explained that he would continue to focus and also…

eBay Opens Multiple NFT Roles amid Its Expansion into Web3 Space

With the current open NFT-related roles, it is clear that eBay will further explore the Web3 space. While tech companies are struggling and laying off employees to cut spending, e-commerce giant eBay Inc is hiring. Recently, eBay has opened a list of positions for roles related to the non-fungible token (NFT) technology and Web3 space. The initiative reflects eBay’s focus on KnownOrigin.io, an Ethereum-powered digital art marketplace acquired by eBay back in June 2022. Interested in joining our team? You’re in luck!We have multiple new positions now available. For more information please visit:https://t.co/TLhs7gf6Qb#NFTs #eBay #KnownOrigin —…

Finnish Firm Membrane Finance Launches EU-regulated EUROe Stablecoin

EUROe allows easy-to-monitor and instant payments across the globe at non-zero cost. Finnish fintech organization Membrane Finance has inaugurated EUROe, Europe’s first and exclusive EU-regulated full-reserve stablecoin and payment network. EUROe converts a fiat Euro into a one-to-one pegged digital currency transactable on Ethereum, with prepared backing for an increasing number of blockchains. One EUROe stablecoin will always be one Euro. For every EUROe rolled out, at least one fiat Euro is present in a European Financial Establishment or bank, ring-fenced from Membrane Finance. The international Payments industry helps approximately…