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Search resuls for: "Bitcoin Conference"


13 mentions found


☆ How this 26-year-old went from running bitcoin trading desks in Taco Bells to creating the largest crypto exchange in Africa
  + stars: | 2023-03-25 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +28 min
Yellow Card CEO Chris Maurice just before meeting with the Securities and Exchange Commission in Accra, Ghana. Chris MauriceFrom there, Yellow Card users can send or receive digital cash in eligible markets. Zoom In Icon Arrows pointing outwards Yellow Card CEO Chris Maurice in Accra, Ghana loading cash onto his Mobile Money account, MoMo. Yellow Card has facilitated $1.75 billion in transactions since launching in 2019 and has about 220 employees – mostly in Africa. A resident checks his phone outside a mobile money kiosk in the Kibera district of Nairobi, Kenya, on Monday, Aug. 1, 2022.
☆ Block shares extend losses as Hindenburg report weighs
  + stars: | 2023-03-24 | by ( ) www.reuters.com   time to read: +2 min
[1/2] The logo of Cash App is seen at the main hall during the Bitcoin Conference 2022 in Miami Beach, Florida, U.S. April 6, 2022. REUTERS/Marco Bello/File PhotoMarch 24 (Reuters) - Shares of Twitter co-founder Jack Dorsey's Block Inc (SQ.N) fell 4% in premarket trading on Friday, a day after the payments firm's Cash App business became the latest target of U.S. short seller Hindenburg Research. In a report, Hindenburg has alleged that Block overstated its user numbers and understated its customer acquisition costs. Block shares closed 15% lower on Thursday, giving up all the gains made so far this year. The report cited a non-profit organization to say that Cash App was also "by far" the top app used in reported U.S. sex trafficking.
☆ Hindenburg takes aim at Dorsey's payments firm Block, shares plunge
  + stars: | 2023-03-23 | by ( Manya Saini | ) www.reuters.com   time to read: +5 min
Block shares fell as much as 22% before paring losses and were last down 14% at $62.61 in afternoon trading. After reviewing the full report, Block said it was "designed to deceive and confuse investors". Hindenburg said that Block "obfuscates" how many individuals are on the Cash App platform by reporting misleading "transacting active" metrics filled with fake and duplicate accounts. The app had 51 million monthly transacting actives, a 16% year-over-year increase during December 2022, Block said in fourth-quarter earnings letter. "What I am really concerned about is the Cash App, accusations of fraud, multiple accounts, opening accounts and fake names.
☆ Hindenburg shorts Jack Dorsey's payments firm Block, shares plunge
  + stars: | 2023-03-23 | by ( ) www.reuters.com   time to read: +2 min
[1/2] The logo of Cash App is seen at the main hall during the Bitcoin Conference 2022 in Miami Beach, Florida, U.S. April 6, 2022. REUTERS/Marco BelloMarch 23 (Reuters) - Hindenburg Research on Thursday disclosed short positions in Block Inc (SQ.N) and alleged that the Jack Dorsey-led payments firm overstated its user numbers and understated its customer acquisition costs. Shares of Block slid 20% to $57.85 in premarket trading following the report. Hindenburg added that Block "obfuscates" how many individuals are on the Cash App platform by reporting misleading "transacting active" metrics filled with fake and duplicate accounts. Founded in 2017 by Nathan Anderson, Hindenburg is a forensic financial research firm that analyses equity, credit and derivatives.
☆ Bitcoin still has a big opportunity in payments despite 60% drop this year and choppy waters ahead
  + stars: | 2022-12-30 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +9 min
Investors are constantly reminded that despite the myriad coins, projects and innovations in crypto, bitcoin may be the only "safe" crypto asset to buy. And while Tesla didn't credit the volatility for its reversal, many observers saw it as evidence that the belief in bitcoin's payments capabilities were misguided. "Bitcoin's price on any given day — as a remittance vehicle — has no effect on us," he said. The group that runs the Lightning Network, a payment protocol built on the Bitcoin network, is committed to making Bitcoin network payments even faster, less costly and more readily confirmed than transactions made directly on the Bitcoin blockchain. Crypto investors, on the other hand, were "disproportionately high-income, almost always had a traditional banking relationship, and typically had other retirement savings."
☆ SBF to testify at FTX House hearing, and the rise of Africa as a crypto hub: CNBC Crypto World
  + stars: | 2022-12-09 | by ( Jordan Smith | Talia Kaplan | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSBF to testify at FTX House hearing, and the rise of Africa as a crypto hub: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, we give you an inside look at the Africa Bitcoin Conference.
☆ Federal judge dismisses crypto scam lawsuit against Kim Kardashian, Floyd Mayweather Jr.
  + stars: | 2022-12-07 | by ( Rebecca Picciotto | ) www.cnbc.com   time to read: +4 min
A federal judge on Wednesday dismissed a proposed class action lawsuit by investors against the founders of the cryptocurrency EthereumMax, as well as celebrity endorsers including Kim Kardashian and boxer Floyd Mayweather Jr. over their promotion of the cryptocurrency on social media. Investors who bought EMAX tokens alleged they had suffered losses after taking the word of the celebrity influencers about the value of the crypto. The suit claims the defendants engaged in a conspiracy to artificially inflate the value of the EMAX tokens. "We're pleased with the court's well-reasoned decision on the case," Michael Rhodes, a lawyer for Kardashian, told CNBC. Fitzgerald in his ruling Wednesday said the EthereumMax lawsuit reflects a broader conflict surrounding celebrity and influencer promotional schemes.
☆ Jack Dorsey’s Block backs bitcoin mining company that wants to bring 25-cent electricity to rural Africa
  + stars: | 2022-12-06 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +8 min
So in February, she began spitballing creative solutions with two friends, and the three of them landed on a sort-of counterintuitive idea: bitcoin mining. The new 533 kilowatt site in Kenya where 300 kilowatts will be used for bitcoin mining. We're not doing bitcoin for bitcoin," said the lead for bitcoin mining and wallet at Block, Thomas Templeton. Block is also working on a project to make bitcoin mining more distributed and efficient. Making the mining process more accessible has to do with more than just creating new bitcoin, according to Templeton.
☆ Africa Bitcoin Conference kicks off as FTX collapse shakes confidence in crypto
  + stars: | 2022-12-05 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAfrica Bitcoin Conference kicks off as FTX collapse shakes confidence in cryptoCNBC's MacKenzie Sigalos reports on the African Bitcoin Conference from Accra, Ghana.
☆ Africa Bitcoin Conference delves into real-world use cases for crypto
  + stars: | 2022-12-05 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAfrica Bitcoin Conference delves into real-world use cases for cryptoCNBC's MacKenzie Sigalos reports from Accra, Ghana on how bitcoin and other crypto tech is being used to supplant legacy financial systems across the continent.
☆ Tumbling bitcoin overshadows El Salvador's crypto conference
  + stars: | 2022-11-17 | by ( Nelson Renteria | ) www.reuters.com   time to read: +2 min
[1/2] A worker talks on a stand during the launch of Adopting Bitcoin – A Lightning Summit in El Salvador, in San Salvador, El Salvador November 15, 2022. Crypto exchange "Bitfinex will redouble its efforts to build a free, unstoppable, resilient and open bitcoin and technology infrastructure for El Salvador," said Paolo Ardoino, the firm's chief technology officer. Ifinex, Bitfinex's parent, has agreed to collaborate with El Salvador's government to create a digital asset and securities regulatory framework. "El Salvador will become the financial and tech center of Central America. The noise won't distract the builders," Ardoino added after meeting with El Salvador President Nayib Bukele.
☆ Crypto.com customers worry it could follow FTX as CEO tries to reassure them everything's fine
  + stars: | 2022-11-15 | by ( Ari Levy Mackenzie Sigalos | Ari Levy | Mackenzie Sigalos | ) www.cnbc.com   time to read: +8 min
related investing news Cathie Wood's ARK Invest keeps buying more crypto assets despite FTX bankruptcy Crypto.com is smaller than FTX but still ranks among the top 15 global exchanges, according to CoinGecko. Kris Marszalek, CEO of Crypto.com, speaking at a 2018 Bloomberg event in Hong Kong, China. Marszalek has spent the early part of the week trying to reassure users and regulators that the business is fine. FTX CEO Sam Bankman-Fried said his company's assets were "fine" two days before he was desperate for a rescue because of a liquidity crunch. Marszalek said on Monday that this was just a reflection of the assets Crypto.com customers were buying.
☆ Dorsey's Block posts a jump in revenue, boosting shares
  + stars: | 2022-11-03 | by ( Hannah Lang | ) www.reuters.com   time to read: +2 min
[1/2] The logo of Cash App is seen at a stand during the Bitcoin Conference 2022 in Miami Beach, Florida, U.S. April 6, 2022. Shares of Block, formerly called Square, rose more than 14% in extended trading on Thursday. The San Francisco, California-based company reported a 17% rise in total net revenue from the year prior at $4.52 billion in the third quarter. Its unit that sells terminals and software for businesses to process payments, Square, generated gross profit of $783 million, up 29%. In August, the company announced it had slowed hiring and slashed its 2022 investment target by $250 million, citing ongoing economic uncertainty.
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