Investors3
1 week ago
Coinbase to Participate in the Goldman Sachs Communacopia + Technology Conference
September 03 2024 - 4:05PM
Business Wire
Coinbase Global, Inc. announced today that Brian Armstrong, Co-Founder and Chief Executive Officer, and Alesia Haas, Chief Financial Officer, will participate in a fireside chat at the Goldman Sachs Communacopia + Technology Conference on Tuesday, September 10, 2024 at 1:10 pm ET / 10:10 am PT.
A live webcast and replay of the virtual session will be available on Coinbase’s Investor Relations website at https://investor.coinbase.com.
Disclosure Information
In addition to filings with the Securities and Exchange Commission, Coinbase uses its Investor Relations website (investor.coinbase.com), its blog (blog.coinbase.com), press releases, public conference calls and webcasts, its X feed (@coinbase), Brian Armstrong’s X feed (@brian_armstrong), its LinkedIn page, and its YouTube channel as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
About Coinbase
Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240903625939/en/
Press:
press@coinbase.com
Investor Relations:
investor@coinbase.com
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/94484772/coinbase-to-participate-in-the-goldman-sachs-commu
Investors3
1 month ago
Coinbase to Participate in the Oppenheimer 27th Annual Technology, Internet & Communications Conference
August 06 2024 - 4:15PM
Business Wire
Coinbase Global, Inc. announced today that Alesia Haas, Chief Financial Officer, will participate in a fireside chat at the Oppenheimer 27th Annual Technology, Internet & Communications Conference on Tuesday, August 13, 2024 at 1:15 pm ET / 10:15 am PT.
A live webcast and replay of the virtual session will be available on Coinbase’s Investor Relations website at https://investor.coinbase.com.
Disclosure Information
In addition to filings with the Securities and Exchange Commission, Coinbase uses its Investor Relations website (investor.coinbase.com), its blog (blog.coinbase.com), press releases, public conference calls and webcasts, its X feed (@coinbase), Brian Armstrong’s X feed (@brian_armstrong), its LinkedIn page, and its YouTube channel as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
About Coinbase
Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240806255566/en/
Press:
press@coinbase.com
Investor Relations:
investor@coinbase.com
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/94326648/coinbase-to-participate-in-the-oppenheimer-27th-an
Investors3
1 month ago
Coinbase (NASDAQ:COIN) – Brian Armstrong, CEO of the cryptocurrency exchange Coinbase, stated that any future U.S. government will be “constructive” towards cryptocurrencies. Despite intense SEC scrutiny, the sector has gained significant support, reflected in political campaigns and candidate promises, which could influence crypto asset legislation. Although many at the Bitcoin Conference 2024 in Nashville were excited about Trump, there’s notable division within the crypto community. Some believe his political ideas oppose Bitcoin’s ethos, which aims to be decentralized and government-independent. Trump’s popularity among Bitcoin enthusiasts may be more a response to current regulation than genuine support for cryptocurrency concepts. Coinbase shares fell 12.9% pre-market, while Bitcoin dropped -8.5% in the past 24 hours.
Nvidia AI Chip Delays, Mars Eyes Kellanova Acquisition, Berkshire Hathaway’s Cash Surge to $277 Billion
August 05 2024 - 5:43AM
IH Market News
Nvidia (NASDAQ:NVDA) – According to Reuters, design flaws could delay the launch of Nvidia’s new AI chips by up to three months, affecting customers like Meta, Google, and Microsoft. The Blackwell series, succeeding the Grace Hopper Superchip, faces production issues, impacting orders from these major companies. Shares fell 7% pre-market.
Kellanova (NYSE:K) – Mars, the maker of M&M’s and Snickers, is considering acquiring Kellanova, the producer of snacks like Cheez-It and Pringles, with a market value of $27 billion. This potential deal, one of the largest in the sector, might face regulatory challenges and test the interest of other buyers, while Kellanova continues to trade below some competitors. Shares rose 6.7% pre-market.
Berkshire Hathaway (NYSE:BRK.B) – Warren Buffett increased Berkshire Hathaway’s cash reserves to $276.9 billion in June, up from $189 billion the previous quarter. The company sold $75.5 billion in stocks, including around 505 million Apple shares. Despite a record operating profit of $11.6 billion in Q2 (up 15%), Berkshire bought only $345 million of its own shares, less than the $2.57 billion the previous quarter. Net profit fell 15%, totaling $30.34 billion. According to Buffett, the sale of nearly half of Berkshire’s Apple stake does not indicate a lack of confidence in the tech giant but rather a risk management strategy. Buffett adjusted his Apple position to reduce concentration and balance the portfolio. Apple remains Berkshire’s largest position, and the decision reflects caution regarding the stake size rather than doubt about the company’s future. Buffett believes the market is overestimating the impact of AI innovation, but the company still has significant potential. BRK.B shares are down -3.8% pre-market.
Apple (NASDAQ:AAPL) – Apple Intelligence, shown to developers, still does not match the expected enthusiasm. Apple delayed its introduction to October and did not include all features in the initial release. The company is also reorganizing its design leadership and expects revenue growth despite weakness in China. The iPhone 16 will launch in September, while Apple Intelligence will be integrated later. In Thailand, Apple pulled an ad after criticism that the film, depicting Bangkok and Rayong, misrepresented the country as underdeveloped. Lawmakers and citizens protested, and the Thai government was concerned about the country’s tourism image. Apple apologized, stating it did not intend to offend. Apple shares are down -6.5% pre-market.
Intel (NASDAQ:INTC) – Intel will face a contraction period, including layoffs and dividend suspension, following negative financial reports. Shares fell 26% on Friday due to margin declines and cost-cutting needs. The company’s future focus is on new products like Lunar Lake and Gaudi 3, essential for regaining competitiveness. In contrast, Qualcomm and Arm posted positive results, excelling in revenue and licensing growth, respectively. Shares fell 3.6% pre-market.
CrowdStrike (NASDAQ:CRWD), Delta Air Lines (NYSE:DAL) – Alphabet’s CapitalG fund reduced its stake in CrowdStrike from 855,789 to 427,895 shares by June 30. This occurred before a global disruption in July caused by a CrowdStrike software update, affecting various sectors and resulting in a 35% drop in the company’s stock value. In other related news, CrowdStrike denies responsibility for Delta Air Lines’ flight disruptions in July, suggesting minimal contractual liability. Delta claims a $500 million loss and is considering suing the cybersecurity firm. CrowdStrike said it offered help immediately after the incident, but Delta did not respond. CrowdStrike shares fell 4.1% pre-market. Delta shares fell 3.5%.
Alphabet (NASDAQ:GOOGL) – Character.AI, an AI chatbot platform, announced a deal with Google to license its language technology, reflecting the trend of large companies acquiring AI startups. Cofounder Noam Shazeer and others are returning to Google, where they previously worked. The startup will receive additional funding, but the amount has not been disclosed yet. Shares fell 4.5% pre-market.
Dun & Bradstreet (NYSE:DNB), Cannae Holdings (NYSE:CNNE) – Dun & Bradstreet is considering a sale, working with Bank of America to explore potential buyer interest, including private equity. Cannae Holdings, the largest shareholder, might include its stake in the deal. Dun & Bradstreet shares fell 2.2% pre-market.
23andMe (NASDAQ:ME) – 23andMe rejected CEO Anne Wojcicki’s acquisition offer, considering it too low. She had proposed buying all remaining shares at $0.40 each. The company is now seeking other options to maximize shareholder value and has given Wojcicki and investors more time to submit a revised proposal.
Meta Platforms (NASDAQ:META) – Meta is offering millions to celebrities like Judi Dench and Awkwafina to use their voices in AI projects. The company aims to create tools for its Connect 2024 event. Negotiations face challenges due to disagreements over voice usage terms, with Hollywood concerns about AI’s impact. Meta shares fell 5.6% pre-market.
Warner Bros. Discovery (NASDAQ:WBD) – Warner Bros. Discovery gained more streaming subscribers during the first four days of the Paris Olympics than throughout the Tokyo Games. Viewership exceeded Tokyo’s after two days, boosted by the European time zone and outdoor studios in Paris. Shares fell 4.1% pre-market.
Uber Technologies (NYSE:UBER) – Tony West, Uber’s chief legal officer and brother-in-law of Vice President Kamala Harris, is taking a leave to help with Harris’s presidential campaign. West will leave Uber on August 17 to support the campaign as a volunteer, with no formal role or pay, and plans to return after the campaign. Uber shares fell 5% pre-market.
Tesla (NASDAQ:TSLA) – Elon Musk’s Neuralink successfully implanted its device in a second patient, enabling them to control digital devices with their thoughts. The device, designed to help people with spinal cord injuries, already allowed the first patient to perform digital activities. Musk noted that the second implant is functioning well, with more tests planned. Tesla shares fell 5.3% pre-market.
JPMorgan Chase (NYSE:JPM) – JPMorgan is considering suing the Consumer Financial Protection Bureau (CFPB) over investigations into Zelle. The bank claims it already reimburses unauthorized transactions and wants to prevent the CFPB from imposing new rules requiring refunds for fraud where customers were deceived. Zelle, a peer-to-peer payment app, allows quick money transfers between bank accounts, widely used since its 2017 launch. Shares fell 3.6% pre-market.
Citigroup (NYSE:C) – Don Plaus, who recently joined Citi to lead the wealth management division, is leaving after just four months. His departure raises questions about the new leadership’s efforts to revitalize the bank’s $540 billion wealth management sector. Shares fell 6.1% pre-market.
Lloyds Banking Group (NYSE:LYG) – Lloyds Banking Group appointed Rohit Dhawan as director of artificial intelligence and advanced analytics. He will integrate AI into the bank’s operational and customer processes. Dhawan, former head of data strategy and AI for AWS in Asia-Pacific, will help accelerate digitization and improve services like support and fraud detection. Shares fell 4.9% pre-market.
Coinbase (NASDAQ:COIN) – Brian Armstrong, CEO of the cryptocurrency exchange Coinbase, stated that any future U.S. government will be “constructive” towards cryptocurrencies. Despite intense SEC scrutiny, the sector has gained significant support, reflected in political campaigns and candidate promises, which could influence crypto asset legislation. Although many at the Bitcoin Conference 2024 in Nashville were excited about Trump, there’s notable division within the crypto community. Some believe his political ideas oppose Bitcoin’s ethos, which aims to be decentralized and government-independent. Trump’s popularity among Bitcoin enthusiasts may be more a response to current regulation than genuine support for cryptocurrency concepts. Coinbase shares fell 12.9% pre-market, while Bitcoin dropped -8.5% in the past 24 hours.
Eli Lilly (NYSE:LLY) – Eli Lilly’s Mounjaro and Zepbound medications, used for diabetes and weight loss, are listed as available on the Food and Drug Administration (FDA) website. However, the regulator has not removed the drugs from its shortage list, while Lilly invests in expanding production to meet high demand. Shares fell 4.1% pre-market.
Petrobras (NYSE:PBR), Galp Energia (EU:GALP) – Petrobras plans to include a partner in its proposal to acquire a 40% stake in Galp Energia’s Mopane block in Namibia. The decision to seek a partner aims to reduce risks, while Petrobras attempts to increase its reserves amid environmental challenges in Brazil. The offer should not impact the company’s dividends. Shares fell 1.7% pre-market.
United Parcel Service (NYSE:UPS) – UPS announced significant increases in year-end surcharges due to fewer operational days and higher delivery costs. The decision aims to offset revenue declines caused by slower deliveries from low-cost retailers. Experts fear this could drive customers away and reduce demand. Shares fell 0.9% pre-market.
Five Below (NASDAQ:FIVE) – Five Below will grant $1.5 million retention bonuses to four executives following CEO Joel Anderson’s departure in July, which caused shares to drop 16%. The bonuses include $300,000 in cash and $1.2 million in stock. The company also named Kenneth Bull as interim CEO, eligible for a $2 million bonus. Five Below shares have dropped 68% this year. Shares fell 1.5% pre-market.
McDonald’s (NYSE:MCD) – After earnings fell short of expectations, McDonald’s might adopt the “McSmart” model seen in Australia, Germany, and France, offering affordable meals. The platform has performed well abroad, suggesting a similar version in the U.S. could attract value-seeking consumers. Experts believe this change might be necessary due to the declining popularity of the “1, 2, 3 Dollar” menu. Shares fell 1.7% pre-market.
Walmart (NYSE:WMT) – Walmart’s “everyday low price” promise will be tested in its quarterly results after Amazon reported consumers are bargain hunting and predicted a weak quarter. Despite the pressure to keep prices low, Walmart may benefit due to its scale and focus on essential products. Shares fell 2.2% pre-market.
Amazon (NASDAQ:AMZN) – Jeff Bezos, founder of Amazon, established an automated stock sale plan with a price limit of $200. Sales began in July but halted when shares fell below this value. Currently, with shares at $167.90, future sales under the plan may be delayed. Shares closed down -8.8% on Friday and fell 2.4% pre-market.
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/94312839/nvidia-ai-chip-delays-mars-eyes-kellanova-acquisi
Investors3
1 month ago
Coinbase expresses concerns over crypto regulation in Australia
"Coinbase (NASDAQ:COIN) expressed concerns about Australia’s crypto asset regulation, which they claim is unfavorable for the sector. The company seeks to avoid restrictive regulations based on law enforcement and awaits a new bill from the Australian Treasury by the end of 2024. The ASIC, which has prosecuted major crypto platforms, maintains its stringent approach, while Coinbase aims to influence legislative development and strengthen regulator relations."
Fed Impact in Crypto Market, California DMV Adopts Avalanche Blockchain, Riot Boosts Bitfarms Stake
July 31 2024 - 3:42PM
IH Market News
Impact of Mt. Gox BTC distribution and Federal Reserve decision on Bitcoin price
Bitcoin’s price remained stable after Mt. Gox transferred $2 billion in BTC on Tuesday, nearing the completion of its $9 billion distribution. A total of 47,229 BTC was moved, with 33,105 BTC possibly destined for BitGo, valued at $2.19 billion. This movement follows transfers to exchanges like Kraken and Bitstamp since July. Analysts suggest the market may be overcoming liquidation concerns, and a Glassnode report indicates creditors might hold their assets long-term.
On Wednesday afternoon, Bitcoin (COIN:BTCUSD) faced volatility due to the Federal Reserve’s interest rate decision and Chairman Jerome Powell’s statement. The Fed maintained the rate between 5.25%-5.50%. Powell mentioned that if data confirms slowing inflation, the Fed might consider rate cuts in the September meeting. The FOMC was optimistic about inflation reduction progress. Bond yields and the dollar rose, with Nasdaq and S&P 500 showing significant gains. Following the decision, Bitcoin briefly dipped before stabilizing, trading at $66,400. After the press conference, Bitcoin rose 0.50% to $66,497.53. With a 6.94% monthly gain in July, BTC has technical support around $65,700.
California DMV digitizes 42 million car titles on Avalanche blockchain
The California Department of Motor Vehicles digitized 42 million car titles on the Avalanche blockchain (COIN:AVAXUSD), modernizing operations. Partnering with Oxhead Alpha, Californians can manage and transfer titles digitally via a mobile wallet app, reducing DMV visits and increasing fraud security. This innovation reflects Governor Gavin Newsom’s commitment to adopting advanced technologies in the public sector.
Riot Platforms increases stake in Bitfarms after dilution plan cancellation
Riot Platforms (NASDAQ:RIOT), a Bitcoin miner based in Texas and Kentucky, purchased about 10 million additional shares of Bitfarms (NASDAQ:BITF), a Toronto-based miner. The stake increased to 15.9%, totaling $159.1 million. The acquisition followed the Ontario Capital Markets Tribunal’s cancellation of a plan that would have diluted Bitfarms shares for entities with over 15% stake. Riot seeks to acquire Bitfarms and has criticized its governance, while Bitfarms evaluates measures to protect its shareholders.
Bitcoin and Ethereum ETF flows on July 30
On July 30, Bitcoin ETFs saw a net outflow of $18.3 million, breaking a streak of inflows since July 23. Grayscale’s ETF (AMEX:GBTC) experienced a significant outflow of $73.6 million, bringing its total outflow to $18.9 billion. Bitwise (AMEX:BITB), ARK (AMEX:ARKB), and Fidelity (AMEX:FBTC) had smaller outflows, while BlackRock’s ETF (NASDAQ:IBIT) stood out with $74.9 million in inflows, raising its total net inflow to over $20 billion.
Ethereum ETFs had a net inflow of $33.7 million, the first since July 23. Grayscale’s ETF (AMEX:ETHE) saw $120.3 million in outflows, while BlackRock (NASDAQ:ETHA) had the largest inflow at $118.0 million. Total Ethereum ETF outflows amounted to $406.4 million so far.
Grayscale launches Mini Trust for Bitcoin after SEC approval
On Wednesday, Grayscale Investment began trading the Grayscale Bitcoin Mini Trust BTC (AMEX:BTC), a smaller version of the Grayscale Bitcoin Trust (AMEX:GBTC), after SEC approval. The new product, traded under the symbol “BTC,” aims to distribute shares to GBTC shareholders as they contribute bitcoin to the trust. Zach Pandl of Grayscale believes there will be high demand for low-cost bitcoin exposure, especially with growing attention on cryptocurrencies and macroeconomic trends.
Bitcoin Conference 2025 to be held in Las Vegas
Following the success of Bitcoin 2024 in Nashville, which brought together 22,000 participants, the Bitcoin Conference 2025 will take place in Las Vegas from May 27 to 29. The change highlights the city’s growth and innovation, becoming a hub for technology and entrepreneurship. Nevada Governor Joe Lombardo and BTC Inc. CEO David Bailey expressed excitement about Las Vegas, promising an event with panels, networking, and tech exhibitions. Tickets are now available for purchase.
During the Nashville Bitcoin Conference, Donald Trump raised $25 million, as reported by journalist Eleanor Terrett. Bitcoin Magazine CEO David Bailey confirmed the amount. The event featured notable figures like the Winklevoss twins and Kid Rock, reflecting the crypto community’s support for Trump, who vowed to fire SEC Chairman Gary Gensler. Trump’s campaign accepted cryptocurrency donations, totaling over $4 million by July 2024.
Ripple’s XRP token reaches four-month high and best monthly performance
Ripple’s XRP (COIN:XRPUSD) rose to an intraday high of $0.6587, its highest in four months, aiming for over 20% appreciation in July. The increase is attributed to growing interest from retail investors and large holders. Trading volume surged 165%, reaching $2.5 billion. Speculations about a possible settlement between Ripple and the SEC could further impact the token’s value.
Aptos Foundation launches stablecoin USDY on the Aptos blockchain
The Aptos Foundation (COIN:APTUSD) launched the USDY stablecoin by Ondo Finance on the Aptos network. USDY, backed by US Treasury bonds, is available to non-US residents and aims to democratize finance and support underserved communities. The asset is not yet registered under the US Securities Act. Additionally, stablecoin issuers like Tether have become major buyers of US debt, attracting attention to the potential impact on the US dollar’s dominance.
Reentrancy attack temporarily suspends Terra network
Terra developers halted the network on Wednesday following a reentrancy attack that drained over $4 million in tokens. The freeze occurred at block 11430400 to apply an emergency fix. The attack exploited a vulnerability disclosed in April, resulting in losses of $3.5 million in USDC, $500,000 in USDT, 2.7 BTC, and 60 million ASTRO.
ZKX protocol ceases operations due to economic unviability
The ZKX protocol, a social derivatives trading platform on Ethereum Layer-2 Starknet, ceased operations due to economic unviability. Founder Eduard Jubany Tur cited low user engagement and declining trading volumes as key factors. Despite raising $7.6 million in June, the ZKE token value plummeted, and operational costs were unmet. All markets were delisted and funds returned to users.
SEC accuses BitClout founder of fraud in crypto asset offering
The SEC sued Nader Al-Naji, founder of BitClout (now Decentralized Social), for raising over $257 million through unregistered crypto asset offerings under false pretenses. Al-Naji is accused of diverting $7 million for personal expenses and creating the impression of decentralization to avoid regulation. The US Attorney’s Office also filed similar charges.
Biden adviser leaves for Kamala Harris PAC
Anita Dunn, senior adviser to Joe Biden, is leaving the White House to join the Super PAC Future Forward, supporting Kamala Harris for the 2024 presidency. The PAC plans to invest around $300 million in Harris’s campaign. Although Dunn recently discussed cryptocurrency regulation, it is unclear if her new role will involve this sector. PACs like Future Forward cannot coordinate directly with political candidates.
BIS and BoE advance stablecoin supervision
The Bank for International Settlements (BIS) and the Bank of England (BoE) introduced a new prototype called Pyxtrial, enabling real-time supervision of stablecoin balance sheets. The system aims to monitor assets and liabilities to prevent mismatches that could undermine trust in stablecoins. This technology is a significant step towards addressing regulatory gaps and ensuring market stability.
Bahamas passes new crypto asset law following FTX collapse
The Bahamas passed the Digital Assets and Registered Exchanges Act 2024 (DARE 2024), aiming for regulatory clarity in the crypto sector and reaffirming its pro-crypto stance. The new legislation covers derivatives, staking, and stablecoins, requiring greater transparency and investor protection. DARE 2024 bans algorithmic stablecoins and limits PoW token mining.
Coinbase expresses concerns over crypto regulation in Australia
Coinbase (NASDAQ:COIN) expressed concerns about Australia’s crypto asset regulation, which they claim is unfavorable for the sector. The company seeks to avoid restrictive regulations based on law enforcement and awaits a new bill from the Australian Treasury by the end of 2024. The ASIC, which has prosecuted major crypto platforms, maintains its stringent approach, while Coinbase aims to influence legislative development and strengthen regulator relations.
Wisconsin launches tracker to combat crypto fraud
The Wisconsin Department of Financial Institutions launched a public tracker to combat financial and cryptocurrency fraud. Between January 2022 and June 2024, residents lost nearly $3.55 million to scams. The tracker uses consumer complaints to identify threats and alert the public, aiming to hinder scammers and protect investors. The tool is regularly updated and allows searches by company name, scam type, or keyword.
Artists sue SEC over NFT classification as securities
Artists Jonathan Mann and Brian L. Frye sued the US SEC, questioning if NFTs (non-fungible tokens) they sell as digital art should be considered securities. Mann, known for creating a new song daily for over 16 years, and Frye, a conceptual artist and law professor, argue that the SEC is overextending securities rules to include digital art. They fear this approach could limit creativity and innovation in the NFT space and seek a court decision to ensure their projects can continue without securities regulation restrictions.
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/94286736/fed-impact-in-crypto-market-california-dmv-adopts
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