updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131In a bold move, India’s Jetking has announced an ambitious target of acquiring 21,000 Bitcoins by 2032. CFO Siddarth Bharwani predicts that the Bitcoin price will hit a staggering $1 million by then. Jetking To Buy 21,000 In a recent interview with Crypto India, India’s prominent IT training institute, Jetking Infotrain, has revealed that the
The post India’s Jetking Targets 21,000 Bitcoin By 2032 As CFO Foresees $1M+ Price appeared first on CoinGape.
]]>Moving on from the Q1 2024 result, Vodafone reiterated its guidance for fiscal 2024.
UK-based telecommunications group Vodafone Group Plc said its fiscal Q1 2024 revenue declined from the previous year’s figures. The revenue for the quarter, which ended on June 30th, was 10.74 billion euros, compared to the 11.28 billion euros that came in a year earlier. On the other hand, the group’s service revenue increased 3.7% on an organic basis YoY during the three months. Also, the service revenue grew by 1.8% from what the company recorded in fiscal Q4 2023. Apart from improving from the previous quarter, Vodafone exceeded analysts’ expectations in its fiscal Q1 2024 service revenue. The average estimate from analysts in a Bloomberg survey was 2.9%. However, the new CEO Margherita Della Valle is paying close attention to its enterprise division and African operation, which has fueled the business.
Speaking on the fiscal Q1 2024 financial performance, the Vodafone chief executive said:
“As we progress our plans to transform Vodafone, we have achieved a better service revenue performance across almost all of our markets. We have delivered particularly strong trading in our Business segment and returned to service revenue growth in Europe. Looking ahead, we have taken the first steps of our action plan focused on customers, simplicity and growth, but we still have much more still to do.”
Moving on from the Q1 2024 result, Vodafone reiterated its guidance for fiscal 2024. The company expects adjusted earnings before interests, taxes, depreciation, and amortization (EBITDA) for the fiscal year to be around EUR 13.3 billion. It also said the expected adjusted free cash flow is EUR3.3 billion. The CEO said the team has made efforts to achieve its action plan concerning “customers, simplicity, and growth.”
As Vodafone announced its performance in fiscal Q1 2024, the company separately announced the appointment of a new Chief Financial Officer. It named Luka Mucic the new CFO and Executive Director, effective September 1st, 2023. Before now, the new chief financial officer was the Chief Operating Officer of SAP SE between 2014 and 2017. He also served as the CFO of SAP from 2014 until the end of March 2023.
Della Valle announced in March that Vodafone was dismissing 11,000 workers to maintain profits. The decision was to affect more than 10% of the company’s total headcount of 100,000. The company forecasted flat profit growth at the time, noting that the job cuts would spread across three years. When the announcement of the most significant staff reduction in the company’s history hit the news, its shares fell more than 2% as the market opened. Just as Vodafone emphasized in the fiscal Q1 2024, Della Valle said its priorities were customers, simplicity, and growth.
Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience.
Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.
Wise saw its shares dip Monday after management announced that long-serving CFO Matt Briers would leave the company early next year.
Shares of British fintech firm Wise (LON: WISE) slipped 4% on news of CFO Matt Briers’ resignation next year. The London-based company’s stock slide also comes amid reports of CEO Kristo Kaarman’s paternity leave which begins in September. Wise’s shares are changing hands at 590 GBX after management made the announcements.
Briers’ pending departure in 2024 comes after an eight-year tenure with the UK fintech powerhouse. During that period, Wise transformed from a small-time promising business venture to a fintech giant with a listing on the London Stock Exchange. Today, the company also boasts millions of users and a revenue stream that typically exceeds 500 million GBP.
Amid its current shares development, and in a Monday update to investors, Wise revealed an immediate “comprehensive search for a new CFO.” The company’s management also detailed the extent of CEO Kaarman’s planned paternity leave. The Wise chief executive and co-founder will be away between September and December to spend time with his family. However, Wise’s Chief Technology Officer, Harsh Sinha, will assume the CEO role interim.
Briers exits his CFO role at Wise in March of next year to fully recover from a cycling accident he suffered in 2022. By the time he leaves, Kaarman is expected to have since returned from his sabbatical break.
In a statement, the outgoing Wise CFO looked forward to the future and reflected on his time at Wise. Briers stated:
“After almost eight years, it’s time to think about my life after Wise. I’m incredibly proud of what we have achieved in these early chapters at Wise and could not be more excited about what is ahead for the business. Wise is growing fast, with a massive opportunity in front of us, and we’ve bucked the trend by working out how to do this profitably.”
Briers also added that his departure could spark the beginning of ongoing transitional changes in management at Wise for decades to come. As the departing CFO put it, the company “could have many CFOs in its first century,” Furthermore, he stressed, “This is simply me starting the process of handing over the reins to the next one.”
Briers suffered a severe cycling accident in February last year where he went under the wheel of a bus. At the time, while the CFO recovered at home, Wise appointed an interim finance chief in his place. Briers is largely credited with playing a pivotal role in transforming Wise’s fortunes.
The announcement of Briers’ departure is the second of its kind this month, where a CFO position at a leading British fintech platform became vacant. Less than two weeks ago, London-based private neobank Revolut announced the departure of its own CFO, Mikko Salovaara, after just two months on the job.
On May 11th, Revolut said Salovaara’s departure was due to personal reasons.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
Crypto Market News: US based crypto solutions provider Ripple on Friday announced a new entrant to its Board Of Directors. As the company behind popular cryptocurrency XRP, Ripple is currently in the spotlight as the crypto market participants await summary judgement in the U.S. Securities and Exchange Commission (SEC) lawsuit. Yet, if the company comes out victorious in the lawsuit, it could have a distinct advantage of having fought the regulators very early in the crypto adoption phase.
Also Read: Ripple SEC Lawsuit Settlement Incoming With Hinman Docs Delay?
With the SEC filing a complaint against Ripple over unregulated sale of XRP as securities, the company has been in the legal tussle since December 2020. However, the company enjoys strong support from the XRP token holder community as it still enjoys a top 10 ranking among cryptocurrencies based on market cap.
The company announced that the former Amazon chief financial officer Warren Jenson will join its Board of Directors. Despite the uncertainty around the SEC lawsuit, the company has been moving forward with its product launches and expansions in the crypto solutions space. The company made the announcement in a statement:
“Ripple is excited to announce today that Warren Jenson is joining its Board of Directors. A seasoned CFO and operations leader, Jenson brings decades of experience in business at today’s most recognizable companies including Amazon, Delta Airlines, NBC, Electronic Arts and Nielsen to Ripple.”
Earlier, CoinGape reported that the company had unveiled the Ripple CBDC Platform as an end-to-end solution for governments, central banks, and financial institutions to issue their own central bank digital currencies (CBDCs). It had partnered with the Hong Kong Monetary Authority (HKMA) for the launch of the e-HKD Pilot Programme.
Also Read: US Fed’s Jerome Powell: Interest Rate May Not Need To Rise
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Shiba Inu has now been listed by Philippines-based Coins.ph following delay caused by technical difficulties
Shiba Inu, the second biggest meme coin, has been listed on cryptocurrency exchange Coins.ph, according to a Wednesday announcement.
Coins.ph is one of the oldest Philippines-based cryptocurrency exchanges, which was founded back in 2014. It later diversified away from crypto, pivoting to mainstream financial services.
In early April, the trading platform was acquired by former Binance Chief Financial Officer Wei Zhou, who left the cryptocurrency giant in May 2021 for personal reasons. Zhou also served as the vice chairman of popular LGBTQ social platform called Grindr.
The deal came three years after the Indonesia-based tech company bought the start-up for $95 million.
As reported by U.Today, Coins.ph initially planned to list the meme coin on July 13, but the launch of the meme coin was delayed due to technical issues, with the team fixing “potential bugs.”
In early June, the canine meme coin was also listed by Bitstamp, the largest European cryptocurrency exchange.
Leading trading app Robinhood finally added support for Shiba Inu in April after a Change.org petition to list the token surpassed more than 500,000 signatures.
Despite losing more than 85% of its value since reaching a new peak in late October, Shiba Inu remains the 15th largest cryptocurrency by market capitalization. The token is currently valued at $7 billion after its price spiked by more than 9% over the last 24 hours.
Shiba Inu generated more than $1 billion in trading volume over the last 24 hours, according to CoinMarketCap data. Binance’s SHIB/USDT pair accounted for more than 15% of the volume.
MicroStrategy has become a major player in the crypto realm since it began purchasing Bitcoin. Its holdings have seen it solidify its place as the public company with the largest bitcoin holdings in the world. A notable fact is that the company had bought a good chunk of its BTC during the bull rallies of 2021. So as the price of the digital asset has begun to decline, there have been speculations regarding whether MicroStrategy plans to begin dumping its BTC.
MicroStrategy recently appointed a new Chief Financial Officer, Andrew Kang, who so far looks to be committed to the company’s strategy. The firm has revealed in the past that it would hold its BTC for the long term and had no plans to sell. Kang has reiterated this strategy in a recent interview amid many speculations.
Related Reading | More Stress For El Salvador As Bitcoin Dips To $29,000
Kang spoke with The Wall Street Journal where he revealed that MicroStrategy was still committed to holding its bitcoin. More importantly, the CFO explained that the company has not been facing any kind of pressure from its shareholders to actually sell off any of its BTC.
BTC starts another recovery trend | Source: BTCUSD on TradingView.com
Even with its BTC investment currently in the loss, it remains steadfast in its resolve to hold its Bitcoin. This has also been echoed by CEO Michael Saylor who took to Twitter to assure investors that MicroStrategy will not dump any of its BTC even through the bear market. Adding that the firm continues to stand with bitcoin.
CEO Michael Strategy is a bitcoin maximalist whose personal investment had been one of the basis for convincing the board to invest in BTC. Saylor has always been vocal about the fact that he believes the digital asset will be worth a lot of money in the future, putting it at over a million dollars.
Saylor revealed in an interview with Yahoo Finance that he sees the pioneer digital asset touching as high as $1 million in the future. He also called it the “currency of the future” while emphasizing its superiority over other cryptocurrencies in the space.
Related Reading | Exchange Inflows Rock Bitcoin, Ethereum As Market Struggles To Recover
As for MicroStrategy, the CEO explained that when it comes to buying BTC, there is no “pricing goal”. He believes that the company will continue to buy the coin at its local peaks. Interestingly, the CEO has also said that he sees the market cap of bitcoin reaching as high as $100 trillion one day.
MicroStrategy currently holds 129,218 BTC on its balance sheet. The total entry value for all of its bitcoin is $3.97 billion. While the current value of its holdings is $3.924 billion, putting the company at about $46 million in the loss.
Featured image from Onewsonline, chart from TradingView.com
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Popular commission-free trading platform Robinhood (NASDAQ:HOOD) is set to wait for regulatory clarity before listing new cryptocurrencies, including the meme-inspired cryptocurrency Shiba Inu ($SHIB), which over half a million users asked for.
According to a report published by Bitcoin.com, the trading platform’s Chief Financial Officer, Jason Warnick, revealed during The Wall Street Journal’s virtual CFO Network Summit that the company wants more clarity from regulators before adding new tokens, in response to a petition from the Shiba Inu community asking Robinhood to list it. Warnick was quoted saying:
We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators,
As CryptoGlobe reported, the Shiba Inu community has created a petition titled “Kindly request of Robinhood to list Shiba Inu coin” that has gathered over 555,000 signatures. In mid-October, the petition had around 240,000 signatures.
It mentions that Robinhood has listed Dogecoin ($DOGE), a rival meme-inspired cryptocurrency, that was a “huge success” for the trading platform. Robinhood listing Dogecoin was very positive for the firm as its revenue increased because of a DOGE trading frenzy seen this year.
Robinhood currently lets users buy, sell, and hold bitcoin, bitcoin cash, Litecoin, ethereum, ethereum classic, dogecoin, and bitcoin SV. It has launched a cryptocurrency gift program late last year, and its cryptocurrency wallets feature has a waitlist of 1.6 million people.
The price of Shiba Inu has recently surged after rumors suggested Robinhood was set to list it in February. Warnick’s comments seemingly dispel those rumors, as the CFO noted the company is focusing on compliance.
Warnick added that Robinhood has no plans to buy crypto for its corporate treasury as there “aren’t compelling reasons strategically for our business to put any meaningful amount of our corporate cash into cryptocurrencies.”
Last year Christine Brown, Robinhood’s Chief Operating Officer, praised the Shiba Inu community for expressing what it wants but did not add any details on whether or not the firm was planning to list the meme-inspired cryptocurrency.
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Robinhood Chief Financial Officer Jason Warnick said he was aware of the demand for more cryptocurrencies to be added to the platform, but added that the company didn’t want to jump the gun, Bitcoin.com reported Sunday (Jan. 16).
Speaking at The Wall Street Journal’s virtual CFO Network Summit last week, Warnick said that the company wants more clarity on the matter.
His words came in response to supporters of the shiba inu cryptocurrency petitioning for the brokerage company to list SHIB, which has garnered over 550,000 signatures.
“We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators,” Warnick said.
He said compliance was one of the biggest priorities for the company, with a partnership with Chainalysis, the blockchain data platform, only reinforcing that. According to Warnick, Robinhood also had no plans to buy crypto for its corporate treasury — a contrast from other companies like Microstrategy and Tesla.
“There aren’t compelling reasons strategically for our business to put any meaningful amount of our corporate cash into cryptocurrencies,” he said.
In November, Christine Brown, chief operating officer and vice president of product operations with Robinhood, said the platform wasn’t rushing to list more cryptocurrencies.
Currently, Robinhood supports buying, selling and real-time market data for bitcoin, bitcoin cash, bitcoin sv, dogecoin, ethereum, ethereum classic and litecoin.
Robinhood also rolled out a cryptocurrency gift program last December, as well as a beta launch of cryptocurrency wallets which now have waitlists of 1.6 million people.
Last fall, PYMNTS wrote that Robinhood’s legal chief, Dan Gallagher, doesn’t think crypto needs more regulations. He reportedly called it “one of the stupidest ideas [he’s] heard in a long time.”
Read more: Robinhood Legal Chief Critical of Creating US Crypto Regulator
Gallagher cited the Dodd-Frank financial reform, saying this proved more regulatory roles would only cause more harm rather than helping things.
He said Dodd-Frank had set out to limit the number of agencies and provide a clear jurisdiction, but ended up adding three new ones.
On the other hand, Securities and Exchange Commission (SEC) Chair Gary Gensler has said regulators’ harshness on cryptocurrency makes sense because of the “high levels of hype.”
The previous big listing for Shiba Inu took place in late November, when Kraken announced its support for the meme coin. The market’s reaction was very optimistic:
However, Kraken listing failed to provide enough support to Shiba Inu. The number of Shiba Inu holders continued to grow and surpassed the 1.1 million mark, but this fact also failed to provide material support to the meme coin.
Crypto markets were moving lower since early November, and so did Shiba Inu, declining from the highs near the $0.000090 level to the recent lows near $0.000025.
The recent crypto market rebound boosted Shiba Inu, and the coin got additional support from the Bitso listing and especially from the Robinhood rumor.
Robinhood CFO stated that the company was not ready to “put any meaningful amount of our corporate cash into cryptocurrencies”, but it remains to be seen whether Robinhood is planning to offer more crypto options to its customers.
Interestingly, Robinhood gets a significant part of its revenue from the crypto segment. In Q2 2021, crypto-related revenue was $233 million. In Q3 2021, crypto-related revenue declined to $51 million as trading activity in Dogecoin fell from its highs (the company did not specifically blame Dogecoin in its reports).
In this light, Robinhood may be interested in expanding its crypto coverage to boost revenue, and Shiba Inu looks like a decent candidate since Robinhood already provides access to Dogecoin.
However, Robinhood will likely be very cautious after the meme stock mania tested its limits back at the beginning of 2021, so it remains to be seen whether the company is really thinking about adding Shiba Inu.
For Shiba Inu, such listing would have been a material positive catalyst. While Kraken is important, it’s just another big crypto exchange, while Robinhood provides access to a pool of a different category of potential investors, who are not focused solely on cryptocurrencies. In this light, traders will have to watch this story closely.
Heading into a new trading week, here is a quick roundup of the top five stories from the technology, corporate and cryptocurrency sectors that investors would not want to miss out on from the weekend.
1. Twitter Revamps Under New CEO: Twitter Inc.’s (NASDAQ:TWTR) new CEO Parag Agrawal has reorganized the company’s management team in his first week at the company’s helm. Twitter, which is shifting to a General Manager model, said in a regulatory filing that engineering lead Michael Montano as well as design and research lead Dantley Davis will step down from their positions at the end of the year.
2. Randi Zuckerberg Says Shiba Inu Has Become Mainstream: Randi Zuckerberg, sister of Meta Platforms Inc. (NASDAQ:FB) CEO Mark Zuckerberg, has said that Shiba Inu (CRYPTO: SHIB), the self-described “Dogecoin (CRYPTO: DOGE)-killer,” has gone mainstream. In a video published on her official YouTube channel, Randi also added that she believes both Shiba Inu and Dogecoin have an opportunity to grow despite their rivalry.
3. Alibaba Reorganizes Amid Headwinds: Chinese e-commerce giant Alibaba Group Holding Limited (NYSE:BABA) has replaced its long-standing CFO and announced a reorganization of its e-commerce business into two new units. The Jack Ma-founded company, which was the first among major Chinese tech companies to feel the pinch from a regulatory crackdown by Beijing last year, said its deputy chief financial officer Toby Xu will succeed Maggie Wu as CFO from April next year.
4. Bitcoin, Altcoins Trade Weak After “Bloody Saturday”: Bitcoin (CRYPTO: BTC) and other major cryptocurrencies continued to trade weak on Sunday evening after a “bloody Saturday” sell-off due to fear surrounding a hike in interest rates and the Omicron variant of the COVID-19 virus. Bitcoin was down 2.3% during the last 24 hours, trading at $48,303.99 at press time early Monday.
5. Elon Musk’s Wealth Drops $15B Amid Market Sell-Off: The net worth of Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk — the world’s richest person — fell by $15.2 billion on Friday as shares of Tesla and other tech companies tumbled amid a broader market selloff following a discouraging November jobs report coupled with concerns surrounding the coronavirus omicron variant.
What Else: Among other stories from the weekend, investors would want to check out the EV week in review, the ten weirdest Beatles covers of all time, how Walt Disney Co. (NYSE:DIS) continued to dominate the U.S. box office, and news that Cathie-Wood led Ark Invest sold more shares in Tesla while loading up on shares in DocuSign Inc. (NASDAQ:DOCU) on Friday.
Meanwhile, CNN, a division of AT&T Inc.’s (NYSE:T) WarnerMedia, has fired Chris Cuomo following the revelations of how the primetime anchor helped his brother and former New York Gov. Andrew Cuomo respond to sexual harassment accusations.
