Micron Following NVidia Guides Lower Again on Weakness from China, Smartphones and PCs

Memory chip maker Micron closed down at 59.15 ▼ 2.30 (-3.74%) after it warned Q4 revenue may come in at or below the low end of the revenue guidance range. $MU announced also a $40 billion investment in leading-edge memory manufacturing in the US as the US approved the CHIPS Act. This latest warning comes just over a month after the company reported earnings that were drastically hurt by China weakness which is 30% of the company’s revenue. The warnings comes just … Continue reading “Micron Following NVidia Guides Lower Again on Weakness from China, Smartphones and PCs”

Digital Platform Coinbase Faces SEC Probe on Crypto Listings

Digital banking platform Coinbase went public last year trading under the symbol $COIN is facing a SEC probe into whether it improperly let Americans trade digital assets that should have been registered as securities. Bloomberg reported this was according to three people familiar with the matter. The $COIN shares fell 9.2% on the news. This probe is separate and predates the SEC investigation into an alleged insider trading scheme that saw former Coinbase manager and two other people. sued by … Continue reading “Digital Platform Coinbase Faces SEC Probe on Crypto Listings”

Micron Guides Lower on Weakness from China, Smartphones and PCs

Memory chip maker Micron reported earnings after the close Thursday and as expected they were drastically hurt by China weakness which is 30% of the company’s revenue. MU reported inline Q3 results and as expected guided Q4 lower, revenue by 20% and EPS by 38%. Weakness in smartphones/PCs also hurt. Strength again came from hyperscalers demand in the datacenter. Caution here with inventories above pre-COVID levels, which creates more uncertainty. These results will have a strong bearing on others in … Continue reading “Micron Guides Lower on Weakness from China, Smartphones and PCs”

Ethereum Collapses 20% To Yearly Lows as Risk Investors Seek Shelter from The Storm

Turmoil continues to ramp up for Cryptocurrencies with intensity to the downside. Stock markets sold off hard after another record high inflation and record low consumer sentiment in the US flowing on to risk instruments. Two-year Treasury yields climbed to the highest since 2008. Ethereum broke through support on Friday and is down over 20% from Friday’s highs after it broke through major support at $1700. The contagion spread quickly to alt coins like XRP, Solana, Cardano and dogecoin. Bitcoin … Continue reading “Ethereum Collapses 20% To Yearly Lows as Risk Investors Seek Shelter from The Storm”

Sports Fan Tokens Quickly Go from Euphoria to Indifference Like Messi’s Move from Barcelona to PSG

Sports fan token have been trading three years in the main crypto exchanges, with the aim an alternative for clubs to gain financing and for fans to be closer to their favorite teams. It hasn’t worked out as such as one would expect in the world of sports fandom where shifts of euphoria and indifference happen quickly, combine that with crypto and NFT noise. The days are early for gauging its success as it still in almost virgin times. Football … Continue reading “Sports Fan Tokens Quickly Go from Euphoria to Indifference Like Messi’s Move from Barcelona to PSG”

Coinbase Indian Expansion Plans Hit as Crypto Payments Frozen Across India

Turmoil hit India’s crypto traders after United Payments Interface, a central bank-backed entity said it was “not aware” of any crypto exchange using the network. Just hours earlier Coinbase Global’s chief product officer Surojit Chatterjee said crypto investors would now be able to use the country’s online retail payments system to transfer funds to its local exchange. At least seven crypto firms have suspended rupee deposits with Crypto exchanges already under pressure from the Indian tax regime. Coinbase customers are … Continue reading “Coinbase Indian Expansion Plans Hit as Crypto Payments Frozen Across India”

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.