27.04.2022 – What Is Driving Gold?
The yellow metal after briefly touching the $2,000 level is back down to $1,900, a support provided by its EMA so far. Gold’s rally this year has been partly predicated on the view that the surge in commodity prices will make already hot inflation persistent.
However, that might no longer be the case as future growth is becoming uncertain due to multiple factors, notably, China’s zero Covid policy, the conflict in Ukraine, and Fed’s attempt to cool down the economy.
26.04.2022 – Will buyer’s buy the dip?
Will buyers buy the dip?
A total of 178 companies are reporting this week, with Microsoft, Alphabet, Intel, and Visa reporting tonight. Earnings reports from yesterday and this morning are net positive with some of the industrial/cyclical companies posting great results. Firms are enjoying solid underlying demand and they’re having a ton of success pushing through price hikes while managing ongoing supply chain challenges. The question is whether the 4,200 level will provide firm support for the S&P500.
25.04.2022 – A Big Week For Tech Earnings
There are lots of earnings reports coming out this week including those from major brands such as Alphabet, Microsoft, Amazon, PayPal, Spotify, Visa, Ford, McDonalds, and Coca-Cola.
It’s a big week for tech earnings in particular and big tech profits will be pivotal for growth stocks. Of the 19% of the S&P500 that has reported so far, 77% are beating estimates.
The U.S. consumer is holding up by some measures despite sticky inflation, but spending is shifting from goods to services as society re-opens.
Overall demand is strong, though supply chain issues and cost pressures are hurting margins, a reason why many companies, so far, have decided to not raise their full-year outlook.
23.04.2022 – Global Supply Chain Crisis Looms
What can we expect in the near future? Things that sounded like fiction or “conspiracy theories” only a couple of years ago are starting to become a reality. Only the truth is that those processes have started a long time ago, and now they have begun to be visualised.
With what is happening in Ukraine, many do not pay attention to another interesting situation: in China, mainly in the eastern part, the most economically developed, 350 million people are in quarantine…
Enterprises, ports, factories, etc. are not working. There are now hundreds of vessels near Chinese ports, and these are tankers, bulk carriers, container ships. This is without taking into account any passenger liners, fishing vessels, etc. What do you think will happen to the global economy, and most importantly, to supply chains?
The correct answer is everything will stop and cause a global crisis that will reshape the world. Already this autumn we are expecting: an industrial, food, and energy crisis, as well as a new wave of lockdowns and restrictions.
Prepare for this mentally. Apologies that we can’t give you better news this Saturday.
22.04.2022 – Binance Recovers Part of Stolen Funds
Crypto exchange Binance has recovered $5.8 million that was stolen by North Korean hackers during the Axie Infinity $625 hack, according to Binance CEO Changpeng Zhao. Zhao claimed that North Korean hackers distributed funds to 86 Binance accounts.
Last week, the US imposed sanctions on the hacker group Lazarus, which is associated with the DPRK. The US Treasury blacklisted an Ethereum wallet owned by the group.
21.04.2022 – First real digital ruble payments to come in 2023
The head of the Bank of Russia, Elvira Nabiullina, said that the central bank plans to conduct the first real operations in digital rubles as early as next year. She noted that the prototype of a new form of currency was created “quite quickly.”. Nabiullina added that the digital ruble will make payments cheaper and will also be used in international payments.
Central bank Governor said that the Bank of Russia, together with the government, is discussing cryptocurrency mining. Nabiullina noted that it is necessary to make a “systemic decision” on crypto mining, and if it is approved, “no limits will be needed.”
17.04.2022 – Portugal grants first crypto license to its bank
The Central Bank of Portugal has granted Bison Bank a license to act as the first crypto bank in the country. The bank was formerly the investment bank of Banif which was acquired by the Chinese group Bison in 2018.
Bison Bank received authorization to launch Bison Digital Assets, a special company that will provide custodial and exchange crypto services. Customers will reportedly be offered a “new and broader set of products and services that, in line with market demand trends in this new segment, match their global needs present in financial and virtual assets.”
Under regulation by the Banco de Portugal, Bison Digital Assets will be supervised on anti-money laundering and counter-terrorism financing grounds.
15.04.2022 – Ava Labs to raise $350M at $5B valuation
According to the report citing people familiar with the discussions, Ava Labs, builder of the Avalanche blockchain, is seeking to raise $350 million in funding that would give it a $5.25 billion valuation.
The $5.25 billion valuation would place Ava Labs in the unicorn club and make it a more valuable crypto firm than Binance’s US subsidiary, which raised $200 million earlier this month on a $4.5 billion deal. However, the company will still be slightly behind the likes of Polygon, which is worth $20 billion at the time of its recent funding round, or USDC stablecoin issuer Circle, which was valued at $9 billion in February.
Like several other blockchains, Avalanche is looking to draw projects and applications away from Ethereum with the promise of high speeds and low transaction fees.
14.04.2022 – Elon Musk Offers To Buy Twitter
Tesla CEO Elon Musk has offered to buy 100% of Twitter for $54.20 per share in cash. He recently became the largest shareholder in Twitter after taking a 9.2% stake.
In a letter to Twitter Chairman Bret Taylor, Musk said Twitter needed to be transformed in order to become a platform for free speech around the globe. He believes that in its current state, the company will not be able to do so.
The offer represents an over 15% premium to Twitter’s last close, and values the social media giant at roughly $43 billion. Musk said the offer was a 38% premium to Twitter’s share price just before he revealed his stake in the firm. The Tesla CEO says his offer is final and if not accepted he would need to reconsider his position as a shareholder.
Tesla shares were lower by 1.6% in pre-market as traders view Elon’s involvement in Twitter as a distraction from focusing on Tesla. Twitter shares are up 11% to $50.9 in pre-market.
11.04.2022 – Cameroon Implements TON Blockchain
Cameroon, Congo and the Democratic Republic of the Congo to implement TON blockchain at the national level
Cameroon, the Democratic Republic of the Congo (the DRC) and the Republic of the Congo have today announced their intention to adopt crypto and blockchain based solutions to drive future economic progress. The Open Network (TON) blockchain is the leading contender to become the blockchain to power this.
TON has been engaging with all three countries independently for some time and has taken the lead to deliver cryptocurrency and blockchain solutions for each nation.
The Open Network (TON) is a third-generation Proof-of-Stake blockchain originally designed in 2018 by the Durov brothers, the founders of Telegram. Later, it was handed over to the open TON Community, which has been supporting and developing it ever since. TON anticipates that applications will be integrated with the Telegram app to provide users with a seamless, accessible experience.
06.04.2022 – Texas bank introduces Bitcoin savings plan for employees
Vantage Bank in Laredo, Texas, is reportedly planning to introduce the savings plan in Bitcoin as an alternative to traditional savings plans for the employees who express their preference for such.
The new program, NYDIG’s Bitcoin Savings Plan, aims to serve as a simple means of investment in Bitcoin. The Bitcoin Savings Plan will allow willing employees of the bank to automatically convert a portion of each paycheck to Bitcoin. The Bitcoin is then held on NYDIG’s institutional-grade custody platform.
This program is offered by the asset management company Stone Ridge’s subsidiary NYDIG Bitcoin Strategy Fund.
The implementation of the employee program reportedly makes Vantage Bank one of the first, if not the first, bank in Texas to have such an employee savings plan program.