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Nintendo Struggles To Maintain Growth Following Exceptional ‘Animal Crossing: New Horizons’ Frenzy
Despite the ongoing Coronavirus pandemic hitting most of the economy massively across 2020, Nintendo was one of the rare companies that actually saw growth in the period, achieving record profits and sales largely caused by increased Switch and Animal Crossing: New Horizons sales thanks to people being socially distanced and stuck at home. In light of this, the company is now finding it difficult to maintain that trend, seeing a decline in financial results in 2021. Drops occurred across both software and hardware sales, with the former seeing a 10.2 percent decrease while the latter suffered a more significant 21.7 percent decline. Sales of the Nintendo Switch Lite were hit the hardest, dropping by a whopping 56.7 percent compared to the same period last year, although regular S...
Weekly analysis: Ripple, Litecoin and IOTA end the week on a high
A poor start to the week could end in profits as the broader cryptocurrency market turns things around The cryptocurrency market had a poor start to the week, with Bitcoin dropping below $38,000 while Ether slipped below the $2,300 mark. However, the broader cryptocurrency market has managed to turn things around, with Bitcoin currently trading above $41,000 and Ether edging closer to $3,000. Ripple (XRP), Litecoin (LTC) and IOTA (MIOTA) are also ending the week on a positive note following a poor start. The wins could be extended during the weekend if the broader crypto market continues this fantastic run. XRP price outlook XRP is the poor performer amongst the three, down by 2% over the past week. However, its performance over the past 24 hours could boost the bulls to embark on a bigger...
Weekly report: Crypto ads now on Google again
Also, HSBC bans Binance, Bitwise launches DeFi funds and Ethereum’s hard fork goes live — read on to find out the top crypto stories from this week Google allows crypto ads on its search engine again Search engine giant Google is now allowing cryptocurrency exchanges and wallet service providers to run adverts on its platform again. This latest development was thanks to its June policy coming into effect earlier this week. The new policy allows authorised crypto exchanges and wallets the freedom to market their products and services on the Google search engine. Companies that wish to run adverts will have to be registered with the Financial Crimes Enforcement Network (FinCEN) and will need to be registered as a money services business in at least one state in the US or be a federal charter...
Leading Crypto Exchange Remitano Launches its Native Token – RENEC
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Chainlink is connecting hundreds of blockchain networks
The Cross-Chain Interoperability Protocol facilitates messaging, data and token movements between different blockchains Decentralised oracle provider Chainlink announced yesterday the launch of its Cross-Chain Interoperability Protocol (CCIP), which will standardise interoperability and token movements across hundreds of blockchains. Developers will be able to use a single interface to build cross-chain applications which can interoperate across different networks, as CCIP facilitates messaging, data and token movements between blockchains. With public and private blockchains now universally connected, CCIP unlocks isolated smart contracts. Chainlink Co-founder, Sergey Nazarov, explained, “The ability to build cross-chain applications is a large step forward in what smart contract de...
JPMorgan now offers clients access to six crypto funds … but only if they ask
JPMorgan Chase quietly opened up access to six crypto funds over the past three weeks as it looks to offer crypto exposure to a variety of clients. In the latest move, the bank’s private clients will now have access to a new Bitcoin fund created by crypto investment firm New York Digital Investment Group (NYDIG). NYDIG is owned by Stone Ridge Asset Management and the “Stone Ridge Bitcoin Strategy Fund” offers exposure to Bitcoin via futures markets. The NYDIG fund is in addition to five crypto funds that the bank opened access to last month: Grayscale Investments’ Grayscale Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust and Ethereum Classic Trust, as well as the Osprey Bitcoin Trust. While the traditional financial institution has taken a big leap by offering crypto exposure via six dif...
BREAKING: White House reportedly supports only minor changes to crypto tax proposal
The crypto community is pushing back against amendments to the crypto provisions of the White House’s infrastructure plan — which seeks to raise $28 billion for infrastructure funding through expanded taxation on crypto transactions and impose new reporting requirements for crypto “brokers.” On August 6, Senators Mark Warner and Rob Portman proposed a “last-minute amendment” to the infrastructure deal to exclude proof-of-mining and sellers of hardware and software wallets from the bill. However, the amendment’s wording suggests crypto developers and proof-of-stake validators would still be subject to expanded reporting and taxation that some have described as “unworkable.” Hours later, Washington Post economics reporter Jeff Stein tweeted that the White House is formally suppor...
Vitalik: ‘More confident about the merge’ following ETH’s successful London upgrade
Ethereum co-founder Vitalik Buterin has hailed the London hard fork a success adding that it has given him more confidence over the upcoming merge to the Eth 2.0 chain. Speaking to Bloomberg News from Singapore, Buterin said that EIP-1559 is “definitely the most important part of London.” The upgrade, which went live around 15 hours ago, has tweaked the fee generation mechanism resulting in a portion of the fees being burnt. At the time of writing, more than 3,500 ETH worth around $9.8 million had already been burnt since the upgrade launched. Buterin stated that the successful deployment of the London upgrade is “proof that the Ethereum ecosystem is able to make significant changes.” He added that the upgrade: “Definitely makes me more confident about the merge,” According to the official...
Boomer brand changes NYSE ticker from ‘ETH’, acknowledging crypto’s ascendancy
Ethereum has achieved another milestone this week apart from the London hard fork, with a 90-year-old New York Stock Exchange (NYSE) listed company changing its ticker to avoid confusion with Ethereum. Home decor and furniture chain Ethan Allen — which has more than 300 stores across the US — announced on Aug. 4 that it had changed its NYSE ticker from “ETH” to “ETD”. The firm said that it has incorporated “D” to reflect design and changed its ticker to avoid investor confusion and solidify its online keyword searches: “We also believe this change will better differentiate Ethan Allen news from Ethereum news in search results, as Ethereum is often abbreviated as ETH.” The home furnishing manufacturer and retail chain was founded in 1932. Investors who want to hodl both versions of ETH will...
UK Live Industry Gets Long-Demanded Government-Backed COVID Insurance
The government says it is one of the only insurance schemes in the world to cover such a wide array of live events and not put a cap on costs claimed per event. Denis Desmond, chairman of Live Nation U.K. and Ireland, says the government-backed protection is a vital intervention that “offers certainty to artists, concert and festival promoters in the live entertainment market.” “While the new scheme won’t cover all our risk, this intervention will help protect the industry that we all know and love,” says Phil Bowdery, chairman of the Concert Promoters Association. The program follows the establishment of similar government-backed insurance schemes in a number of other European markets, including Germany, the Netherlands, Belgium, Austria, and Denmark. They provide a much-needed safety net...
Illinois Is Smoking: Pot Sales Peak, Thanks to Lollapalooza
Because recreational marijuana was legalized in Illinois in January 2020, pot was legal in the state during Lollapalooza for the first time in the festival’s 30-year history. Although it’s illegal to smoke or otherwise consume the drug in public or around anyone younger than 21 years old, the large crowds at Grant Park boosted sales by as much as 50% at nearby dispensaries in River North and the West Loop, operators told the Chicago Tribune. “We saw thousands of festivalgoers over the weekend at our River North store, making it our biggest weekend to date,” said Jason Erkes, spokesman for Chicago-based Cresco Labs, whose Sunnyside Dispensary in River North was the closest to the festivities. In July, Illinois’ 110 dispensaries sold a record 2.8 million recreational weed products. State res...
Virgin Galactic Reopens Seats on Upcoming Spaceflights for $450,000 USD
Virgin Galactic has reopened ticket sales for upcoming spaceflights, with seats starting at $450,000 USD each. The company successfully completed its first fully-crewed spaceflight last month, with its billionaire founder Richard Branson on board. The event was live-streamed for audiences around the world, and showed the spacecraft reaching an altitude of 53.5 miles above the Earth before making a safe return to Spaceport America. Seats were first offered up for $250,000 USD before ticket sales were halted in December 2018. In its second quarter financial results released Thursday, the Virgin Galactic said sales have since reopened, with prices beginning at $450,000 USD. According to the release, the company will have three consumer offerings for the private astronaut market: a single seat...
