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☆ Freetrade, Britain's answer to Robinhood, posted its first quarterly profit
▼ + stars: | 2024-04-15 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Freetrade reported adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of £100,000 ($124,863) in the first quarter of 2024, according to unaudited financial statements shared with CNBC. Freetrade still generated a loss of £8.3 million in 2023, down from the £28.8 million loss it racked up the year before. "We defied difficult market conditions and delivered healthy growth in 2023 while dramatically reducing losses" in 2022, said Adam Dodds, CEO and founder of Freetrade. Net inflows totalled £130 million in the first quarter, too, as retail investor activity grew in response to resurgent markets last year. Equity markets saw serious drops in 2022 as a result of macroeconomic uncertainty and higher interest rates stoked by Russia's full-fledged invasion of Ukraine, which triggered a risk-off trade around the world.

Persons: Rafael Henrique, Freetrade, Adam Dodds, who've, Dodds, we've, Russia's Organizations: Getty, CNBC, Freetrade, Equity Locations: Ukraine

The reason for the reports of a deteriorating service in Ukraine are unclear, and Starlink, SpaceX and Musk declined to comment. Even with the Starlink devices that are firmly in the Ukrainian military’s control, there is a concern among Ukrainian officials that Russians may hijack their communications or hack them. Ukraine’s SBU intelligence service claimed last year that Russian military hackers were trying to steal battlefield communications sent from Ukrainian soldiers’ mobile devices to Starlink terminals. She promised 30 at a later date, and also posted images of a stack of 20 apparent donated Starlink units. Ukrainian units have also been posting footage of multiple drone strikes against Russian trenches where Starlink terminals have been spotted.

Persons: Elon Musk, SpaceX, Misha, “, ”, John Moore, Anton, Oleg Kutkov, Jeff Jurgensen, Musk, Starlink, crowdfunders, Katya Valya, CedarWoods Organizations: CNN, Elon, SpaceX, 65th Mechanised Brigade, Russian, Pentagon, Ukraine, CedarWoods Locations: Ukrainian, Russian, Ukraine, Donbas, “, Kyiv, Poland, Russia, Moscow

☆ Real-estate crowdfunding is a house of cards. PeerStreet's bankruptcy reveals why.
▼ + stars: | 2023-09-14 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +21 min

Like many PeerStreet investors who spoke with Insider, Mincher has a strong résumé. Another form of crowdfunding, equity crowdfunding, works a bit like the stock market without the onerous and expensive process of initial public offerings. The PeerStreet investors who spoke with Insider said the outcome of this case could determine whether they stick with real-estate crowdfunding. Others, such as Fundrise, have moved away from crowdfunding in favor of a model for private real-estate investment trusts, similar to the BREIT later offered by Blackstone. Fritton, the former Patch of Land CEO, said Fundrise's fund model was the wave of the future for real-estate crowdfunding.

Persons: Michael Burry, Christian Bale, Burry's, Crowdfunding, Burry, Andreessen Horowitz, they're, Braun Mincher, PeerStreet, who've, Judge Laurie Selber Silverstein, Brew Johnson, he's, Braun, Mincher, —, it's, Michael Burry Astrid Stawiarz, Ian Ippolito, Ippolito, John McNellis, PeerStreet Ippolito, McNellis, El, Marc Andreessen, Phil McCarten, Silverstein, wouldn't, Sean Quinn, Doug Lyon, Lyon, that's, Jason Fritton, Kirk Brett, there's, Brett, iFunding, CrowdStreet, Nightingale's Elie Schwartz, Nightingale, Schwartz, Yieldstreet, Fritton Organizations: CNBC, Main, PeerStreet, Facebook, McNellis Partners, Funding Trust, Fairfield University, Magnetar, Adler, Securities and Exchange Commission, Department of Justice, Securities, Exchange Commission, SEC, Investors, Blackstone Locations: Delaware, El Segundo , California, crowdfunding, There's

☆ Patients left to wait by Britain’s public health service turn to crowdfunding
▼ + stars: | 2023-06-18 | by ( Caolán Magee | ) edition.cnn.com time to read: +7 min

“If we had to wait another two years on an NHS waiting list – Holly might not have made it,” Thomas told CNN. So, her family decided to pursue private medical treatment instead and have exceeded their £5,000 target through crowdfunding website JustGiving. Bruce Viveash/Harrow Borough FC“It took a big hit on my bank account but I had to use private healthcare to save my football career. An increasing number of Britons are paying out-of-pocket to access private healthcare directly. This is “a sad state of affairs,” Wrigley told CNN.

Persons: Holly Reeves, Holly, –, “, Amy Thomas, ” Thomas, David Wrigley, GoFundMe, ” John Coventry, ” GoFundMe, ”, James Taylor, Steve Baker, Taylor, Bruce Viveash, ” Taylor, ” Wrigley Organizations: London CNN, CNN, National Health Service, Foundation Trust, Consumer, National Insurance, British Medical Association, BMA, NHS, crowdfunding, Harrow Borough, Harrow Borough FC “, Private Healthcare Information, OECD, Department of Health, Social Care Locations: Devon, Torbay, South Devon, United States, England, Britain

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