Tag: Report

Disney Releases Fiscal Q2 2023 Earnings Report, DIS Stock Down 5% in Pre-market

The recent earnings report is the second one since Iger became the CEO again in November 2022. The Walt Disney Company (NYSE: DIS) posted revenue and profit in line with analysts’ expectations for its fiscal Q2 2023. The company, which released its second quarter and six months’ earnings for fiscal 2023, said its quarterly revenue grew 13% to $21.82 billion. Meanwhile, analysts expected $21.78 billion. Revenue also jumped 20% in the six months. Walt Disney added that diluted earnings per share from continuing operations increased from $0.26 in fiscal Q2…

IRS claiming $44B from FTX bankruptcy: Report

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The single biggest claim involves unpaid partnership and income taxes of $20.4 billion assessed against Alameda Research. The United States Department of Treasury and Internal Revenue Service (IRS) have filed 45 claims worth $44 billion against bankrupt cryptocurrency exchange FTX and its subsidiaries. In what appears to be a tax bill for FTX’s sister company Alameda Research LLC that circulated online on May 10, the IRS assessed the firm $20.4 billion due in partnership taxes and payroll taxes. The assessment appears to match the IRS claim found on the website of Kroll…

$176M of Do Kwon’s assets are frozen: Report

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On May 10, local news outlet Hankyung reported that Do Kwon, co-founder and former CEO of Terraform Labs, had over 233.3 billion Korean won ($176 million) in personal assets frozen as part of ongoing criminal proceedings. Chief Judge Yun Chan-Young of the 12th Criminal Division of the Seoul Southern District Court has prohibited the sales of Do Kwon’s Galleria Foret apartment complex in Seoul, a novel officetel and a series of imported cars. The order also bans the disposition of Kwon’s financial assets, such as securities, bank deposits and cryptocurrency…

BTC Hovers Near Key Price Floor, Ahead of US Inflation Report – Market Updates Bitcoin News

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Bitcoin was hovering close to a key price floor near $27,300 on Wednesday, as markets anticipated the upcoming U.S. inflation report. Consumer prices for last month are expected to remain at 5%, which could be seen as justifying the Federal Reserve’s decision to hike rates last week. Ethereum remained above $1,800. Bitcoin Bitcoin (BTC) continued to consolidate on Wednesday, as markets awaited the latest inflation report from the United States. Following a high of $27,824.39 on Tuesday, BTC/USD dropped to an intraday low of $27,375.60 earlier in today’s session. Today’s…

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…

South Korean lawmaker allegedly cashed out while legislating on crypto: Report

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Kim Nam-kuk, a member of South Korea’s National Assembly, reportedly liquidated more than $4 million worth of crypto prior to lawmakers in the country enforcing the Financial Action Task Force’s ‘Travel Rule’. According to a May 8 report from The Korea Times, authorities with Korea Financial Intelligence Unit are investigating Kim for trading roughly 6 billion won — $4.5 million — in crypto assets before South Korea introduced the Travel Rule in March 2022. The lawmaker reportedly said he did not cash out the assets but rather transferred them to…

Crypto remains hopeful as market moves sideways: Report

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After a turbulent month for the crypto industry in March, Bitcoin’s (BTC) price went sideways in April despite some volatility. The meteoric rise of memecoins, such as PEPE, made headlines, and First Republic, another mid-sized United States bank, went under. However, on the basis of current market sentiment is a standoff between markets and policymakers: While the U.S. Securities and Exchange Commission Chairman Jerome Powell publicly states that interest rates are unlikely to come down this year, the markets for risk-on assets like crypto have firmly priced in a pivot in…

China issues first arrest over fake news created with ChatGPT: Report

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A suspect identified only as “Hong” was detained by local authorities and arrested in the Gansu district of China after allegedly using ChatGPT to generate fake news stories.  According to a report from the South China Morning Post, Hong was detained after an investigation into an unsubstantiated article relating to a train crash was discovered on April 18 by law enforcement agents. Hong’s arrest for “using artificial intelligence technology to concoct false and untrue information” came after cybersecurity specialists discovered at least 20 accounts had simultaneously posted the fake news article…

Tencent-backed Everledger collapses amid lack of funding: Report

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The Australian blockchain company Everledger has reportedly entered insolvency proceedings after failing to raise new funding from an undisclosed investor. Everledger, which uses blockchain to track the provenance of diamonds and other goods, failed to make its latest funding round happen, the AFR reported on May 8. Subsequently, Everledger was quietly placed into voluntary administration as the firm could not pay its debts. All Everledger employees were given layoff notices on March 31, with Vincents Chartered Accountants being appointed as administrators on April 24. The first meeting of creditors was…