Tag: Report

Block Releases Q1 2023 Report Showing Cash App Bitcoin Revenue Rise 18% from Q4 2022 to Over $2B

Block saw increased earnings on several fronts for Q1 2023 due to the success of its other businesses, including Cash App and Square.  Block (NASDAQ: SQ) announced its Q1 2023 earnings report, which showed $2.16 billion in Bitcoin (BTC) revenue realized from its Cash App service. Block reported in a shareholder letter that BTC revenue grew 18% from $1.83 billion in the fourth quarter of 2022. In addition, the Jack Dorsey-founded multinational tech conglomerate also reported that its latest Bitcoin revenue haul was up 25% year-over-year (YoY).  Block Highlights Q1 2023 Performance in Shareholder Letter  For…

Examining global successes and challenges in regulating crypto: Report

The use and popularity of cryptocurrencies have significantly increased in recent years, but their decentralized nature makes them difficult to regulate, and the lack of a clear framework has led to concerns about money laundering, terrorist financing and consumer protection. Over 90 countries have introduced cryptocurrency regulations since 2014, with 28 adopting crypto-related laws in 2022. The Cointelegraph Research Blockchain Regulation Database provides an overview of the legal landscape surrounding blockchain and cryptocurrency worldwide as well as the regulations that apply to various activities. Through its user-friendly interface, the database provides…

Shell Q1 2023 Report Surpasses Analyst Expectations, Adjusted Earnings Hit $9.6B

In 2022, the Big Oil companies, including TotalEnergies, ExxonMobil, Chevron, BP, and Shell smashed their previous year’s earnings. The Q1 2023 fiscal report by the British oil giant Shell (LON: SHEL) surpassed expectations, cruising analysts’ predictions. In the recent report, Shell announced adjusted earnings of $9.6 billion for the first three months of the year. The performance is in continuation of its current bumper results run after commodity prices surged in 2022 due to Russia’s full-scale invasion of Ukraine. According to Refinitiv, analysts expect Shell to announce $8.6 billion in earnings…

US congressmen chide presidential advisers over crypto stances in economic report

United States Congressmen Warren Davidson and Mike Flood have written a letter to the chair of the Council of Economic Advisers (CEA) demanding an explanation for a chapter the agency prepared for the Economic Report of the President that expressed “a hostile view towards the digital asset ecosystem.”  The report, presented to Congress is March, contained a chapter titled “The Reality of Crypto Assets” that claimed such assets “have brought none of the promised benefits.” The agency’s opinion marked a reversal of the position taken in the president’s “Executive Order…

Interest rate hike speculation triggers outflows from crypto investment products: Report

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On May 2, European cryptocurrency investment firm CoinShares published its latest “Digital Asset Fund Flows Weekly Report,” which stated that the digital asset market experienced bearish sentiment for the second consecutive week, resulting in outflows totaling $72 million. The report noted that the bearish sentiment could be attributed to the probability of further interest rate hikes by the United States Federal Reserve this week. Weekly crypto asset flows. Source: CoinShares According to the report, crypto market funds experienced outflows across all geographies and providers, particularly in Germany and Canada, where outflows…

Student interest in ChatGPT skills on Udemy increased by 4,419% since 2022: Report

Udemy’s Global Workplace Learning Index for Q1 2023 indicates that ChatGPT, financial services, and courses aimed at developing students’ business teaching skills have experienced a massive uptick in interest from the site’s reported 49 million users. This likely comes as no surprise as we’re currently experiencing what Wired recently described as a “Wet Hot AI Chatbot Summer,” coming on the heels of OpenAI’s launch of ChatGPT. According to Udemy, topic consumption — the number of users taking courses featuring skills specific to ChatGPT — has risen 4,419%. Screenshot of Udemy…

Pacwest Stock Plummets Over 35% Following Release of Q1 Earnings Report Amidst Turmoil in Banking Industry – Bitcoin News

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Following the acquisition of First Republic Bank by JPMorgan Chase, several regional banks such as Pacwest and Western Alliance experienced a significant drop in their stock prices. On Tuesday afternoon, all four major U.S. benchmark stock indexes are in decline as regional bank stocks hit new lows. Banking Industry on Edge as Pacwest Shares Sink Causing Trading Halt Pacwest, a regional bank based in Beverly Hills, California, is facing challenges after the release of its 2023 first quarter earnings report. Following the publication of the earnings, the bank’s stock price…

Former FTX exec Ryan Salame’s home searched by FBI: Report

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The home of former FTX co-CEO Ryan Salame has reportedly been searched by the Federal Bureau of Investigation (FBI) as further scrutiny falls on the executive for his close advisory role to Sam Bankman-Fried. An April 27 report from The New York Times, citing people with knowledge of the matter, said the Bureau searched Salame’s $4 million home in Potomac, Maryland on the morning of April 27. It remains unclear what the authorities were looking for. Salame was the co-CEO of FTX Digital Markets, which was FTX’s Bahamas-based subsidiary. The…

Decentralized file storage pricing differentials persist despite market growth: Report

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According to a new report published by Singaporean venture capital firm Foresight Ventures, the cost of decentralized file storage on blockchains such as Filecoin, Arweave, Swarm, StorJ, and Sia currently ranges from near zero to $4 per terabyte (TB) per month. This is much lower than traditional Web2 services such as Amazon Cloud or Microsoft Azure, where prices can range from $16 to $23 per TB of monthly storage. However, the report also outlined other costs associated with decentralized storage, such as data upload fees and retrieval fees, the latter…