Month: July 2022

Meta’s Metaverse Is Still Not Profitable: Reality Labs Unit Registers $2.8 Billion Losses During Q2

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Meta, the social media company, has reported that its metaverse division, the Reality Labs Unit, is shedding lots of money. In its recent earnings call, the company informed that, while the Reality Labs unit managed to pull more than $400 million in sales, its losses reached $2.8 billion, mainly due to research and development costs … Read more

IMF Warns of Further Crypto Selloffs and More Coins Failing

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A director with the International Monetary Fund (IMF) has warned of further selloffs in both crypto assets and equities. He further warned that more crypto tokens could fail. IMF Foresees More Crypto Selling Pressure Tobias Adrian, director of Monetary and Capital Markets for the International Monetary Fund (IMF), warned about further selling pressure in the … Read more

Goldman Sachs, JPMorgan Predict Euro-Area Recession

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Global investment banks Goldman Sachs and JPMorgan have predicted an imminent recession in the euro area. “The risks to our forecast are skewed toward a sharper recession in the event of an even more severe disruption of gas flows, a renewed period of sovereign stress or a U.S. recession,” said the economists at Goldman Sachs. … Read more

Comadran Studios Obtains a $50M Investment From Gem Digital Limited (“Gem”) And Releases the Play to Earn Game Medabots With the Medamon Token

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Paris – New York – Bahamas // GEM Digital Limited is a digital asset investment firm that sources, structures, and invests in utility tokens listed on over 30 CEXs and DEXs globally. This substantial capital commitment will allow Comadran Studios to fulfill its upcoming projects. Comadran Studios is a pioneer in searching for the best … Read more

Celsius Clients Beg Bankruptcy Court to Release Crypto, One Customer Needs Funds to ‘Put Food on the Table’

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After the crypto lender Celsius filed for bankruptcy protection on July 13, the company recently contacted customers and explained that an employee from one of the firm’s vendors accessed a list of Celsius client emails, and the email addresses were “transferred to a third party.” Furthermore, Celsius customers have written to the court begging to … Read more

Alphabet, Microsoft and Now Meta Release Disappointing Quarterly Earnings

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Meta joined Alphabet and Microsoft in releasing disappointing quarterly financials, following the company’s Q2 earnings call. In a week of a disappointment for mega-cap stocks, the trio has all missed revenue and earnings expectations, with Meta seeing its first quarterly sales decline ever recorded. Economic Slowdown Due to the current global economic slowdown, markets had … Read more

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