Train and many attractions in the squares for Christmas in Cardano al Campo, scheduled for Sunday 12 December from 10 to 17.30, in many different points of the town near Malpensa.
“In Cardano al Campo, as everywhere, we want to start over” says the commissioner Meri Suriano. “It is important to worry about the health of your citizens and that is why the Colombo Council has asked, once again, the collaboration of the main local authorities to organize the Christmas celebrations 2021, in full compliance with safety regulations. This year, local traders have also joined the organization, who have a great desire to get back into the game. In fact, they welcomed with lively participation, with personal proposals and a great enthusiasm dictated by a strong desire for recovery and return to normality ».
The result was a fruitful collaboration that led to the proposal of a detailed program that indicates places and times to avoid gatherings during the celebration period, which is as rich as ever.
The distinctive element this year will be the decentralization of attractions “That if, on the one hand it is imposed by the need to protect the health of citizens, on the other it enhances all the” corners “of the city”. There will in fact be animations in the usual ones squares: Sant’Anastasio with the show, the wizard, Santa’s cottage, the Elves and Mazzini square with the market (with distribution of gadgets by merchants).
In the Piazzetta Don Sturzo will be activated laboratories for children and in the Piazzetta Addolorata will be present “The face painting”. They will cheer us with their presence bagpipers and the Philharmonic to spread the captivating Christmas music in your country.
In Piazza Falcone and Borsellino will be placed a small enclosure with animals (with regular veterinary authorization).
“The chocolate fountain” will be built in Cardano Sud to the delight of the children, who will also be able to travel around the city aboard a beautiful red train. The presence of the characters of the Nativity scene is expected, in elegant historical costumes with the distribution of roasted chestnuts, aperitifs ……… ..and much more!
The American-based payment company Square Inc. reported a drop in Bitcoin revenue month over month from its Cash App during the third quarter of 2021, the total amount being $1.82, overall, 11% up from last year.
Square has found profit in midst of the pandemic as many users grew to need e-commerce services. The number of processed transactions on the app during the third quarter went up 27% with a total amount of $3.7 billion.
The company is led by Jack Dorsey, who also runs Twitter and is a big BTC enthusiast, currently aiming to invest in the future of decentralization and new economic systems.
Square’s third quarter of 2021 had total net revenue of $3.84 billion, 27% up from last year; $2.03 billion excluding BTC. Its gross profit went up 43% year over year with $1.13 billion. The revenue from transactions was $1.30 billion, up 40% since 2020.
However, bitcoin revenue and gross profit dropped compared to the second quarter. The company stated the decrease is due to the “relative stability in the price of bitcoin”.
In the third quarter of 2021, we recognized a loss of $7 million driven by the adjustment to the revaluation of equity investments as well as a $6 million bitcoin impairment.
Bloomberg reported what Chief Financial Officer Amrita Ahuja at Square shared with them:
Bitcoin transactions through Cash App have grown tremendously over the past two years, but Bitcoin revenue can be a deceiving metric. Square reports all Bitcoin sales as revenue, which is why that number can look very large and is dependent on things like price volatility. Bitcoin gross profit, though, represents the money Square collects via fees from Bitcoin transactions, and is a better reflection of that part of Square’s business.
Related Reading | Square’s Cash App Reports $2.7B In Quarterly Bitcoin Revenue, A 200% Jump
After the Q3 earnings letter’s release, the company’s dropped 4.9% in post-market trading.
The Focus Is On Bitcoin (And International Waters)
Square’s earnings letter highlighted their agreement to acquire the Afterpay platform “with more than 16 million consumers and approximately 100,000 merchants as of June 2021.”
Through this transaction, we plan to unite two complementary businesses with a shared focus on economic empowerment and financial inclusion. We believe the combination will more deeply connect our Seller and Cash App ecosystems, accelerate our strategic priorities, and allow us to deliver even more compelling products and services for consumers and merchants.
The report also sheds light on other projects and partnerships, such as the Cash App’s new offer to teenagers, an important expansion of its demographics, and the SoFi Stadium partnership.
We believe our partnership with SoFi Stadium serves as a testament to how we are now equipped to enable unique commerce experiences and support the needs of complex multi-purpose venue sellers.
The App is currently focusing on expanding and offering accessible and flexible commerce products to all. Results show “an increased adoption of contactless payment options due to the pandemic.”
The company explained their focus remains on their “international strategy of achieving product parity globally, investing further into brand awareness, and launching in new markets”.
Square stated they are focusing on BTC rather than bringing other cryptocurrencies into the Cash App. Earlier, Dorsey had tweeted about Square’s intention in building an energy-efficient and more accessible BTC mining system.
“Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide,”
Related Reading | Jack Dorsey: Square Could Build Bitcoin Mining System
Square Inc., the Bitcoin payment app led by Jack Dorsey released its quarterly financial reports for shareholders on August 1st, reporting $4.68 Billion in total revenue in the second quarter of 2021. Square’s revenue grew 143% year-on-year (YoY). The firm mentioned it has seen a “significant growth in Bitcoin revenue,” estimated to be worth$2.72 Billion, seeing a 3X growth YoY.
The gross profit from Bitcoin however was only 2% of the total revenue at $55 million. The firm in its Q2 shareholder’s letter mentioned that the total Bitcoin revenue and gross profit declined in the second quarter in comparison to the first because of the price correction. The total Bitcoin revenue has fallen by 22.28% while the gross profit fell by 26.66% compared to the first quarter.
Square Reports $45 Million in Impairment Loss
The price of Bitcoin fell more than 50% in May from an ATH of $64,865 and currently trading just above $40,000. The massive price fall has led to impairment losses for several companies that hold Bitcoin on their balance sheet including Tesla, MicroStrategy, and Square. The Jack Dorsey-led firm reported $45 million in impairment losses in the second quarter on their Bitcoin investment. Square is still in $127 million profit on their Bitcoin investment.
“In the fourth quarter of 2020 and the first quarter of 2021, we invested $50 million and $170 million, respectively, in bitcoin. As an indefinite-lived intangible asset, bitcoin is subject to impairment losses if the fair value of bitcoin decreases below the carrying value during the assessed period. In the second quarter, we recognized a bitcoin impairment loss of $45 million on our bitcoin investment. As of June 30, 2021, the fair value of our investment in bitcoin was $281 million based on observable market prices, which is $127 million greater than the carrying value of the investment.”
Square has become a true Bitcoin product and now looks to expand its expertise from just being a payment solution provider. Dorsey over the month has confirmed that Square will be developing a hardware wallet of their own and most recently he revealed the company is working to build a Defi-like ecosystem on top of Bitcoin.
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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.
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