Micron Earnings Boosted by Data Center Sales and DRAM Shipments for the Cloud.

Memory chip maker Micron reported better than expected earnings after the close Monday boosted by data-center sales growing over 70% year over year from cloud demand and the resurgence of enterprise IT investment. Strong DRAM bit shipments for the cloud, graphics, PC and notebook, 5G and automotive markets continued. Micron DRAM memory density Micron Technology, Inc. NASDAQ: MU Reported Earnings After Close Monday $2.16 Beat $2.10 EPS Forecast and $7.69 Beat $7.68 billion forecast in revenue Earnings Q1 2022 results … Continue reading “Micron Earnings Boosted by Data Center Sales and DRAM Shipments for the Cloud.”

Binance Processes $76 Billion in Cryptocurrencies Per Day

Cryptocurrencies have gone vertical in 2021 led by Bitcoin to over $65,000 from just $28,000 months a go and $2,000 a few years ago. With volumes and values have soared and one crypto exchange has grown at such Breakneck speeds, Binance which is processing $78 Billion worth a day. The Wall Street Journal last week compared last week how astonishing the growth is, and comparing to major stock markets the complete antithesis of those traditional exchanges in so many ways. … Continue reading “Binance Processes $76 Billion in Cryptocurrencies Per Day”

Monetary Authority of Singapore Encouraging Crypto Firms To Operate In The Country

The Central Bank of Singapore, the Monetary Authority of Singapore is in process of setting regulations in place encouraging cryptocurrency firms to operate in the island state. The move is to avoid “Singapore being left behind.”

Nigeria First African Country to Launch Own Digital Currency, eNaira

Central Bank of Nigeria (CBN) Governor Godwin Emefiele says will its launch digital currency eNaira in a couple of days. The move followed Nigeria banning banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies in February this year.

Micron Earnings Beat on DRAM Bit Shipments But Lowers Guidance on Chip and China Headwinds

Memory chip maker Micron reported better than expected earnings after the close Tuesday but lowered guidance sending $MU 4% lower. Strong DRAM bit shipments for the cloud, graphics, PC and notebook, 5G and automotive markets was anticipated.

Weibo Crypto Suspensions Send Bitcoin Lower

Chinese social-media service Weibo suspended some crypto-related accounts Sunday. Bitcoin and many other top cryptocurrencies declined on the move. $WB took similar action in 2019 when it suspended the accounts of exchange operator Binance Holdings and blockchain platform Tron.

Goldman CIO Survey Shows Bitcoin Least Favorite Long For Hedge Funds

Goldman Sachs issued a note Saturday after two CIO roundtable sessions earlier this week attended by 25 CIOs from various long-only and hedge funds. They said their most favorite long is Growth style but least favorite on Bitcoin. Suggesting institutional adoption ia a ways off.

Fed Researching and Engaging in Digital Version of U.S. Dollar – Brainard

Federal Reserve Governor Lael Brainard said on Monday “The Federal Reserve is stepping up its research and public engagement on a digital version of the U.S. dollar.” Fed Chair Jerome Powell said last week the Fed will release a paper looking at how CBDCs could affect payments.

Swiss National Bank Tests How to Issue a Central Bank Digital Currency

The Swiss National Bank announced they are to test a transfer of central bank digital currency funds. “We will try some cross-border functionality.” “There will be another central bank and another currency other than the Swiss franc. ” said Thomas Moser of the SNB’s governing board. The test follows the researxh paper “How to Issue a Central Bank Digital Currency”

Crypto Banking Platform Coinbase IPO Hits Market Value over $100 Billion on Debut

Digital banking platform Coinbase went public on Wednesday trading under the symbol $COIN. The Nasdaq’s first major direct listing rose as high as $429.54 briefly giving it a market value over $100 billion. Growing popularity of cryptocurrencies has seen attention shift towards the exchanges they trade on.