Tag: Report

African Blockchain Business Funding Rose 429% in 2022 — Report – Blockchain Bitcoin News

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In 2022, African blockchain businesses raised a total of $474 million, a 429% increase from what was raised in the year earlier, the latest CVVC African blockchain funding report has revealed. The custody and exchanges category raised over $250 million, which is equivalent to more than 50% of funds raised by blockchain companies. South Africa and Seychelles Accounted for More Than 80% of Funds Raised According to the latest CVVC Africa Blockchain funding report, blockchain businesses from the continent raised $474 million in 2022, a year-on-year funding increase of 429%.…

Tesla Posts Q1 2023 Report Sees Earnings Slide Over 20% YoY

EV giant Tesla experienced a drop in Q1 2023 earnings due to underutilized new factories and higher production costs. Tesla Inc (NASDAQ: TSLA) saw its net income and earnings slide by more than 20% year-over-year (YoY), according to its Q1 2023 report published Wednesday. Nonetheless, the electric vehicle manufacturer’s revenues and profits for the year’s first quarter were on par with consensus estimates. For Q1 2023, Tesla realized a revenue haul of $23.33 billion compared to the $23.21 billion analysts expected. On the other hand, the company’s earnings per share of 85 cents…

Coinbase gets Bermuda license, offshore exchange could launch next week: Report

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United States-based cryptocurrency exchange Coinbase has received a license to operate in Bermuda and it’s reportedly set to launch a derivatives exchange based there as soon as next week. According to an April 19 blog post, Coinbase revealed it had “received our regulatory license to operate from the Bermuda Monetary Authority” — the nation’s financial regulator. The license, a Class F License under the Digital Asset Business Act, allows Coinbase to conduct a range of activities such as token sales and issuance, and operate as both a digital asset exchange and…

Bank of Russia to set up entities for crypto mining and cross-border settlement: Report

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Russia is taking further steps to mitigate global sanctions in place since the invasion of Ukraine in 2022. According to local media reports, the country’s central bank plans to create new institutions to mine crypto assets and settle international payments.  In a meeting in the State Duma — one of the chambers of the Russian parliament — the head of the central bank, Elvira Nabiullina, announced that the Bank of Russia would allow cryptocurrency to be used in external settlements in a pilot program. The move, however, does not signal…

European Parliament report recommends researching, but not launching, digital euro

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An analytical paper released by the European Parliament Committee on Economic and Monetary Affairs has given the digital euro a mixed review. The title of the paper summed up its position: “Digital Euro: When in doubt, abstain (but be prepared).” The paper was written at the request of the parliamentary committee by economist Ignazio Angeloni to assess the preparations for the launch of a digital euro. Angeloni looked at ten issues that a “prospective digital euro” (PDE) will face, concentrating on their downsides. Related: US wholesale CBDC has ‘promise,’ Fed…

ASML Releases Impressive Q1 2023 Report, Predicts Bullish Sales to China

Despite the great ASML Q1 2023 earnings, sales of chips to China slowed down within that time period as geopolitical tension between China and the United States took a new twist. Netherlands-based chipmaker ASML Holding NV (NASDAQ: ASML) has projected its sales and earnings to the Chinese mainland will skyrocket for the rest of 2023 after it recorded a significant slowdown in its business in the region in the first quarter (Q1 2023). The projections came after the company reported a better-than-expected first-quarter result in which its net profit came…

Tribe Capital considers reviving bankrupt crypto exchange FTX: Report

Tribe Capital, the San Francisco-based venture capital firm that previously invested in FTX before its collapse, is exploring the possibility of injecting new capital to revive the bankrupt cryptocurrency exchange, Bloomberg reported on April 18. The venture capital firm is reportedly contemplating leading a $250 million fundraising campaign, anchored by $100 million from itself and its limited partners. According to Bloomberg, sources familiar with the matter say that Tribe co-founder, Arjun Sethi, met with FTX’s Committee of Unsecured Creditors in January to discuss the informal proposal.  Bloomberg also reported that…

Intel will stop manufacturing chips for Bitcoin miners: Report

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Major United States-based technology company Intel has reportedly announced plans to discontinue its line of Blockscale Bitcoin mining chips as part of efforts to cut costs. According to an April 18 Reuters report, the semiconductor chip manufacturing company will stop taking orders for the Blockscale 1000 Series ASICs by Oct. 20 and end shipping roughly in April 2024. Intel reportedly said the move was aimed at a strategy of prioritizing the manufacturing of certain chips to outside customers, cutting overall costs. Intel launched the Blockscale mining chips in April 2022,…

FTX Reboot Plan Attracts Interest From VC Firm Tribe Capital: Report

Tribe, whose portfolio included FTX ahead of its dramatic collapse in November, is considering leading a $250 million fund raise, with a $100 million commitment from itself, according to the report. A source told Bloomberg that Tribe Capital co-founder Arjun Sethi met with FTX’s official committee of unsecured creditors in January to go over an informal proposal. Source AttractsCapitalFirmFTXInterestPlanRebootReportTribe CryptoX Portal