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Meta’s Metaverse Is Still Not Profitable: Reality Labs Unit Registers $2.8 Billion Losses During Q2

July 29, 2022 0

Meta, the social media company, has reported that its metaverse division, the Reality Labs Unit, is shedding lots of money. In its recent earnings call, the company informed that, while the Reality Labs unit managed to pull more than $400 million in sales, its losses reached $2.8 billion,

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IMF Warns of Further Crypto Selloffs and More Coins Failing

July 29, 2022 0

A director with the International Monetary Fund (IMF) has warned of further selloffs in both crypto assets and equities. He further warned that more crypto tokens could fail. IMF Foresees More Crypto Selling Pressure Tobias Adrian, director of Monetary and Capital Markets for the International Monetary Fund (IMF), warned about further selling pressure in the […]

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Goldman Sachs, JPMorgan Predict Euro-Area Recession

July 28, 2022 0

Global investment banks Goldman Sachs and JPMorgan have predicted an imminent recession in the euro area. “The risks to our forecast are skewed toward a sharper recession in the event of an even more severe disruption of gas flows, a renewed period of sovereign stress or a U.S. recession,” said the economists at Goldman Sachs. […]

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Celsius Clients Beg Bankruptcy Court to Release Crypto, One Customer Needs Funds to ‘Put Food on the Table’

July 28, 2022 0

After the crypto lender Celsius filed for bankruptcy protection on July 13, the company recently contacted customers and explained that an employee from one of the firm’s vendors accessed a list of Celsius client emails, and the email addresses were “transferred to a third party.” Furthermore, Celsius customers have written to the court begging to […]

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Alphabet, Microsoft and Now Meta Release Disappointing Quarterly Earnings

July 28, 2022 0

Meta joined Alphabet and Microsoft in releasing disappointing quarterly financials, following the company’s Q2 earnings call. In a week of a disappointment for mega-cap stocks, the trio has all missed revenue and earnings expectations, with Meta seeing its first quarterly sales decline ever recorded. Economic Slowdown Due to the current global economic slowdown, markets

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Sango – The First Digital Monetary System Built on Bitcoin

July 28, 2022 0

PRESS RELEASE. Sango, the Central African Republic’s crypto-initiative, has set off a wave of excitement in the crypto space, fuelling curiosity and anticipation. Supported by a comprehensive Legal Framework, Sango will enable the creation of both the digital and physical infrastructure that would aid its development. SANGO will be partially backed by Bitcoin, meaning that

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Foundry Digital Launches Logistics Arm to Advance Standards in the Cryptocurrency Mining Industry

July 28, 2022 0

On Thursday, Foundry Digital LLC, the mining company and subsidiary of Digital Currency Group (DCG), announced the launch of Foundry Logistics in order to advance standards in the cryptocurrency mining industry. The newly launched arm of the company plans to “bridge the gap between hardware manufacturers and buyers by providing an all-in-one solution for mining […]

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Biggest Movers: UNI, BCH Surge by Over 20%, Hitting Multi-Month Highs

July 28, 2022 0

Uniswap was trading over 20% higher in Thursday’s session as the token rose to its highest point since April. This comes as crypto markets surged on Tuesday, in the aftermath of the Fed rate decision. Bitcoin cash moved to a six week high on the news. The global crypto market cap is 6.51% higher as […]

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Despite the White House Debate, Critics Insist US Officially in a Recession After 2 Consecutive Quarters of Negative GDP Growth

July 28, 2022 0

The U.S. economy has declined for the second-straight quarter as the country’s gross domestic product (GDP) declined by 0.9% in Q2. The Bureau of Economic Analysis’s summary of the U.S. GDP follows the recent debate over the technical definition of a recession. America’s Q2 GDP Data Points to a Recession One of the principal agencies […]

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UK Law Commission Publishes Proposals to Reform Laws Relating to Digital Assets — Says Reforms Must Not ‘Stifle Development’

July 28, 2022 0

According to the Law Commission, the United Kingdom statutory body, digital assets play an increasingly important role in modern society and as such, the law relating to these must be reviewed. Reforming the laws will not only protect the rights of users and maximize the potential of digital assets but can potentially position England and […]