Tag: Report

Mobileye Posts Q3 2022 Earnings Report, Beats Out Analysts’ Expectations on Revenue

Mobileye reported that it made $450 million in Q3 2022 and has now forecast fourth-quarter revenue to $527 million-$545 million. Mobileye Global Inc (NASDAQ: MBLY) recently posted its Q3 2022 financial report, which revealed better-than-expected numbers for the Jerusalem-based Intel Corporation (NASDAQ: INTC) spinoff. For the third quarter of this year, Mobileye’s total revenue surged 38% year-over-year (YoY) to $450 million compared to analysts’ expectations of $447 million for the same period. In addition, the Israeli autonomous driving technology developer also saw its share price climb 6.26% to $32.40. Following its substantial Q3 2022…

FTX hires forensics team to find customers’ missing billions: Report

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The new management for bankrupt crypto exchange FTX has reportedly hired a team of financial forensic investigators to track down the billions of dollars worth of missing customer crypto. Financial advisory company AlixPartners was chosen for the task and is led by former Securities and Exchange Commission (SEC) chief accountant, Matt Jacques, according to a Dec. 7 report from the Wall Street Journal. It is understood that the forensics firm will be tasked with conducting “asset-tracing” to identify and recover the missing digital assets and will complement the restructing work…

Remittances to Low and Middle Income Countries in 2022 Up by 5% to $626 Billion — Latest World Bank Report – Economics Bitcoin News

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Despite the headwinds that have dominated the year, remittances to low and middle-income countries in 2022 still grew by 5% to $626 billion, the World Bank Migration and Development Brief has said. Africa, where the cost of sending $200 averaged 7.8% in 2022, is the “most severely exposed to the concurrent crises.” Impact of the Appreciating Ruble and Weaker Euro According to the latest World Bank Migration and Development Brief (MDB), total remittances to the so-called low and middle-income countries (LMICs) in 2022 went up by 5% to $626 billion.…

Report outlines reasons why stakeholders are against CBDC

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While some countries like Nigeria are aggressively pushing the use of central bank digital currencies (CBDCs), a new report summarized why a number of private stakeholders are against the idea of a CBDC.  The report dubbed “The State of CBDCs in 2022,” published by blockchain insights firm Blockdata, dove into the most significant CBDC developments within the past year. It also pinpointed some of the key reasons why some private companies are against CBDCs. Citing stablecoin issuer Circle’s stance on CBDCs, the report highlighted that digital currency issuance may be…

This Report Suggests Cryptocurrencies Bearing A Final Flush-Out

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The crypto market is currently undergoing a series of unfortunate events. From the crash of stablecoin Terra to the fall of Celsius, it has been a gloomy year for crypto investors. More recently, the capitulation of the Bankman-Fried-led popular exchange FTX has further amplified this negative trend. In addition, exchanges like Gemini and Coinbase have laid off a significant chunk of their workforce. According to Glassnode reports, the collapse of FTX has led to one of the largest; deleveraging events in the history of crypto. As a result, the market…

Sam Bankman-Fried hires defense attorney as US authorities probe FTX: Report

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Former FTX chief executive officer Sam Bankman-Fried has reportedly hired Mark Cohen, a former federal prosecutor, to act as his defense attorney. According to a Dec. 6 report from Reuters, Bankman-Fried’s spokesperson Mark Botnick said the former FTX CEO has retained Cohen amid a flurry of civil litigation from investors in the crypto exchange and investigations by lawmakers and regulators in the United States. Cohen, a co-founder of law firm Cohen & Gresser, was a former assistant U.S. attorney for the Eastern District of New York who also on the…

Report Suggests FTX’s Tokenized Stocks Might Not Have Been Backed 1:1, Synthetics May Have Been Used to ‘Manipulate’ Real Stock Prices – Bitcoin News

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On Dec. 4, 2022, a report details that FTX-based synthetic stocks may have been used to manipulate the value of AMC shares. In May 2021, FTX offered 36 tokenized stocks but speculators believe it’s questionable whether or not the firm actually held the real stocks in the first place. FTX Listed 36 Synthetic Stocks and Minted Hundreds of Thousands of Tokenized Shares, Report Questions Whether or Not the Firm Actually Owned the Stocks FTX has been under the microscope ever since the exchange collapsed during the first week of November…

Crypto Exchange Bybit To Let Go of 30% of Workforce As Bear Market Drags On: Report

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Dubai-based crypto exchange Bybit is kicking off a round of layoffs equalling more than a quarter of their total workforce amid the current market woes. Bybit co-founder and CEO Ben Zhao announced the massive layoffs over the weekend on Twitter. “Difficult decision made today, but tough times demand tough decisions. I have just announced plans to reduce our workforce as part of an ongoing reorganization of the business as we move to refocus our efforts for the deepening bear market. The planned downsizing will be across the board. We are…