Elon Musk’s X social network is preparing to launch the Smart Cashtags financial tool, which will allow trading stocks and cryptocurrencies directly from the platform’s timeline.

According to statements from the company’s product manager, Nikita Bier, the feature should be active in a few weeks. The executive added that “a new version of Cashtags has already been launched in the United States and Canada for iPhone, focused on providing real-time financial data within the platform.”

Musk’s intention to make X multiplatform has been progressing since 2022, when he “incorporated a system that displayed price charts and market data for major assets like Bitcoin and Ether.” At that time, it was possible to track price movements within posts, but it did not offer transactional features.

Now, an expansion of these services is underway, with a relaunch that includes “real-time data in the United States and Canada for iPhone, the preparation of Smart Cashtags for stock and cryptocurrency trading within weeks, and the continuation of X Money in limited beta. Together, these pieces paint a picture of a platform that seeks to capture more value at the intersection of attention, information, and money.”

M.Pino

Source: diariobitcoin

(Reference image source: Erling Løken Andersen on Unsplash)

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La entrada Smart Cashtags to allow trading stocks and cryptocurrencies from the X timeline apareció primero en Bitfinance.

The Austrian fintech Bitpanda has just partnered with the PayPal platform and now allows commission-free withdrawals and deposits in Spain. Operations have been active since February, Thursday 22.

According to Bitpanda’s announcement, the strategy will be extended to other countries, such as Italy, France or Switzerland, to facilitate transactions for fintech clients.

The objective is to expand its offer of payment methods, “which include Apple Pay, SEPA bank transfers, as well as credit and debit cards.”

Mireya Fernández, who was recently named Country Lead of Southern Europe and CEE, has indicated: “including PayPal to the Bitpanda ecosystem as another free deposit option for our users in Spain is another example of our attention and commitment to the experience of the user. Something fundamental to strengthen our leadership in the market. “We are proud to offer our Spanish customers this additional extra of comfort and safety.”

The new payment option for Spaniards, through the association of Bitpanda and PayPal, means speed, simplicity and confidence in each deposit and withdrawal, without commissions.

With this announcement, the platform also announced the increase in the daily credit card limit, which went from 10,000 to 20,000 euros.

M.Pino

Source: cripto247

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La entrada Bitpanda joins PayPal to offer deposits and withdrawals in Spain apareció primero en Bitfinance.

According to a report by the U.S. Securities and Exchange Commission (SEC), Jeff Bezos sold Amazon shares for approximately $2 billion between February 13 and 14. Specifically, the sale consisted of 12 million shares at an average price of $169.50 each.

This process began on February 7 and 8, when Bezos disposed of another 12 million shares. It continued its sales frenzy on February 9 and February 12, liquidating another 12 million shares. These transactions coincide with a 13% increase in Amazon’s stock value since the beginning of the year.

Bezos could continue to move chips, as it has sold a total of $6 billion in shares during this month of February, reducing its stake in the company by 2%.

However, it seems that the sales have not yet been completed. According to a previous report, Bezos proposed to sell 50 million shares of Amazon, with an estimated value of $8.4 billion.

This stock sale could also boost Bezos’ net worth, allowing him to regain his position as the richest person in the world.

Recall that Jeff Bezos ranked first in Forbes’ ranking of the world’s billionaires from 2018 to 2021. It currently ranks third on this prestigious list, with an estimated net worth of $168.4 billion for January 2024.

K. Tovar

Source: Bancaynegocios

(Reference image source: @Ivan_Bolsa, X)

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La entrada Jeff Bezos sold a large portion of Amazon stock apareció primero en Bitfinance.

In a determined financial move, Ark Invest, the well-known firm led by Cathie Wood, has strategically liquidated some of its shares, including those of Coinbase (COIN), as well as other prominent companies. Simultaneously, the firm has directed capital towards Bitcoin futures ETFs, once again demonstrating its innovative vision in the financial world.

It is striking that among the shares released are those of AMD, Block, Cloudflare, Stratasys, Shopify and the Grayscale trust, GBTC. The released funds have been redirected to ProShares Bitcoin Strategy ETF and Ark 21Shares Active Bitcoin Futures Strategy ETF. This bold move is not alien to Ark Invest’s distinctive style.

It is important to note that three of the sales correspond to companies linked to the cryptocurrency market. It should also be noted that Ark Invest had previously acquired shares of Coinbase at favorable prices, generating notable returns.

On this occasion, the sale of COIN shares totaled 148,885 units, reaching a value of $27.5 million.

K. Tovar

Source: Criptotendencia

(Reference image source: PiggyBank, Unsplash)

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La entrada Ark Invest sold part of its shares in Coinbase apareció primero en Bitfinance.

Amid global turmoil, Latin American stocks are posting their strongest performance compared to other emerging market regions since 2009, thanks to the economic and political stability the region enjoys.

In a recent analysis of benchmark indices from major developing regions, Latin American stocks have hit a 14-year high against emerging Europe, the Middle East and Africa. In addition, they are on track to post consecutive annual gains against Asia, marking a milestone in this period, as reported by Bloomberg.

The key drivers of this rally match those of 2009: a robust US economy and expectations of an accommodative stance from the Federal Reserve. However, it is also attributed to a comparative advantage: while Asia faces challenges due to the Chinese economic slowdown, and the EMEA region grapples with war, debt problems and currency vulnerabilities, Latin America benefits from its position distant from geopolitical tensions. , its proximity to the largest world economy and a greater capacity to implement economic stimuli.

According to Nenad Dinic, equity strategist at Bank Julius Baer & Co. in Zurich, “Latin America currently appears to have an advantage over EMEA heading into 2024, mainly due to its favorable macroeconomic environment and positive market reactions to planned policy changes”. He added that the EMEA stock market remains more vulnerable to geopolitical risks, especially given the potential escalation of conflicts in the region.

Rising Latin American stock index

The MSCI EM Latin America Index, which gives a combined 90% weighting to Brazil and Mexico, has seen an impressive 16% rise so far this year, marking the most significant advance since 2017. Among the main contributors to this rally Petróleo Brasileiro S.A. is located (PETR4), Fomento Economico Mexicano SAB (FEMSAUBD) and Itaú Unibanco Holding S.A. (ITUB4).

Earnings estimates for index members have hit their highest point in a year, and valuations are half what they were three years ago.

According to Dinic, “Brazil began an aggressive cycle of rate cuts, while improved fiscal prospects have bolstered investor confidence.” Additionally, Mexico’s economy has seen significant benefits thanks to the nearshoring trend, where U.S. companies move their production facilities closer to the local market.

In contrast, the EMEA equity index has seen a 0.5% decline in 2023, with South African mining stocks and Middle Eastern banks the biggest drags.

In addition, the region’s currencies are pegged to the US dollar, limiting their ability to recover when the dollar weakens. This diminishes its appeal at a time when yields in countries like Brazil are attracting traders, according to Ashish Chugh, money manager at Loomis Sayles & Co.

K. Tovar

Source: Bancaynegocios

(Referential image source: Unsplash)

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La entrada Latin American stocks experience a rebound in the market apareció primero en Bitfinance.

The US Securities and Exchange Commission (SEC) filed a lawsuit against Elon Musk in a court in the Northern District of California, demanding his testimony about the acquisition of Twitter last year. The SEC suspects that Musk may have committed securities fraud in this transaction.

The Tesla CEO and billionaire businessman did not appear at the summons scheduled for September 15, where he was to give a statement as part of the SEC’s investigation into his investment in the social network now known as X. This transaction was closed with a agreement valued at approximately $44 billion.

The lawsuit filed by the SEC alleges that Musk’s continued refusal to comply with the subpoena is hindering and delaying the investigation. Therefore, the SEC asks the court to force Musk to appear before the commission.

Musk’s lawyers had argued that the courthouse in San Francisco (California, USA) was not the appropriate place to testify. However, the lawsuit details that alternative dates were proposed to meet at the SEC offices in Fort Worth (Texas, USA), which are closer to Musk’s current residence in Austin (Texas). Despite these efforts, Musk refused to appear to testify.

Additionally, federal Judge Andrew Carter, sitting in the Southern District Court of New York, rejected Musk’s request to dismiss a class-action lawsuit accusing him of defrauding Twitter investors before acquiring the company.

Musk is alleged to have violated federal regulations by failing to disclose his prior 5% ownership stake in the company, which would have provided him with inside information during the acquisition of the social network. Shareholders suing SpaceX CEO claim Musk would have saved more than $200 million by increasing his stake in Twitter from 5% to 9.2%, resulting in his shares being sold at artificially low prices because of this. strategy.

With Musk’s acquisition of Twitter in April 2022, the social platform’s shares rose 27%, from $39.31 to $49.97.

Musk’s lawyers argued that at the time, Musk was one of the busiest people in the world, running companies like Tesla and SpaceX, and that he failed to report his involvement on Twitter due to an oversight.

K. Tovar

Source: Bancaynegocios

(Referential image source: Souvik Banerjee, Unsplash)

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La entrada Elon Musk was sued for alleged fraud case apareció primero en Bitfinance.

This Tuesday information was leaked from sources close to Elon Musk, according to which the tycoon would have sent a letter to the platform’s administrative council indicating that he will continue with the Twitter purchase proposal started in April.

Consequently, the actions in the stock market of the social network Twitter experienced a rebound that some media collect at 12 % while others place it at 18 % percent. The truth is that the listing had to be suspended due to this stock market phenomenon.

As will be recalled, Elon Musk, after accepting the purchase of Twitter at $54.2 per share last April, backed down, arguing that Twitter had not been transparent about the information on fake accounts. Until July, although the offer was still valid, the price of the share fell to around 32.7 dollars.

Both parties were due to go to trial on October 17. However, after this turn in history, the legal process is expected to be suspended.

M.Pino

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With information from dpa and international media

La entrada Elon Musk says he will go ahead with the Twitter purchase apareció primero en Bitfinance.

The American company Apple earned 34,630 million dollars in its first fiscal quarter of 2022, which represents 20 % more than in the same period of the previous year, generating a profit of the order of 2.10 dollars per share, above the $ 1.89 anticipated by consensus.

The company’s shares increased by more than 2.5 % after the opening of Wall Street, while income increased 11 % to reach a record figure of 123,940 million dollars, exceeding the projections of analysts, who forecast a 118.5 billion dollars in sales.

While the operating profit has risen to 23 %, which represents some 41,488 million dollars, and the gross margin stood at 43.8 %, above the anticipated 41.7 %.

According to statements offered by Apple CFO, Luca Maestri, “the strong customer response to our recent launch of new products and services drove double-digit growth in revenue and earnings, and helped set an all-time record in our installed base of active devices.”

Records in Apple products

Innovation and new products have generated a significant increase in sales of Apple products. All but the iPad have posted new revenue records, as have the company’s business units. According to Apple CEO Tim Cook, “this quarter’s record results were made possible by our most innovative lineup of products and services.”

Sales by product category report the following figures: 71,628 million dollars were obtained from the sale of iPhones, reflecting a 9 % growth; Mac computers registered 10,852 million dollars, which represents a 25 % growth.

For its part, the Accessories division generated 14,700 million dollars, a growth equivalent to 13 % and the Services division reached 19,500 million dollars, which means a growth of 25 %. However, iPads only brought in about $ 7.248 million in revenue, which is a 14 % decrease.

Impact of inflation

Apple’s CFO made reference to the impact that inflation is having, especially on the company’s logistics costs. However, he estimates that the situation is temporary. “Everyone is seeing inflationary pressure” and this price increase impacts the company’s margins “these increases are being taken into account in its gross margin. Some expenses such as logistics have a very high cost”. I emphasize Master.

Since the pandemic began in 2019, the company has been cautious when giving details about its forecasts for the coming months, due to the high uncertainty experienced by Covid-19, but even so, it continues to grow quarterly, making it a the most valuable company on the stock market.

M. Rodríguez

Source: bolsamania.com

La entrada Apple raises $34 million in first fiscal quarter apareció primero en Bitfinance.

Joe Biden, president of the United States, issued instructions to release 50 million barrels of oil from the country’s reserves, with the purpose of mitigating the increase in fuel prices.

Biden is working in coordination with a group of highly oil consuming countries such as China, India, Japan, the United Kingdom and the Republic of Korea, which require a lot of energy for the economies of their countries to operate.

The joint initiative was conceived and presented by the US and its intention is to bring oil prices down “mechanically“. US stocks are the world’s largest emergency supply and the release will begin around mid-December.

Oil prices intervention

According to the statements issued by a senior representative of the executive “it is possible that new interventions will be produced to stabilize the market, in response to a pandemic unique in the century.”

Joe Biden is willing to take other actions and exercise all his authority to maintain the adequate supply of oil so that the country functions properly in the midst of the pandemic, in addition to leading and managing measures with the other leaders and heads of countries that also register very high energy consumption levels.

On the other hand, some consumers consider that the drop in the price of oil, 10 % in recent days, has not had a direct impact on the cost of gasoline, which continues to increase for end consumers.

M. Rodríguez

Source: bancaynegocios

La entrada The US will release 50 million barrels of oil apareció primero en Bitfinance.

Microsoft toppled Apple from top spot on the stock market, becoming the world’s most valued company and regaining its old first place. The company owned by Bill Gates presented last week results above expectations and its price on the stock market was located at 2.44 trillion dollars.

The technology giant presented an increase of 1.6 % on Friday, trading at more than $ 329.5 per share. Shares also outperformed Amazon.com Inc., on “long-term development hopes and expansion in areas such as machine learning and cloud computing.”

For its part, Apple fell to $ 147.10 per share, causing losses of approximately 3.9 %. Its capitalization has decreased to 2.415 trillion, despite the 47 % increase in iPhone sales.

Sales achieved on mobile phones also did not meet the expectations that analysts had, a fact that had not happened since 2017. It is the first time that Apple’s revenues did not meet Wall Street estimates.

During 2021, technology companies have presented a quite dissimilar revaluation. Apple’s return has been quite positive, achieving 11.5 %, but Microsoft is superior, obtaining 48.5 %.

Statistics indicate that “Microsoft is up more than 45 %, while Apple got 11 % and Amazon 1 %.”

It is important to remember that Microsoft had not dethroned Apple since the “first half of 2020, when investors flocked to growth stocks amid the Covid-19 pandemic.”

M. Rodríguez

Source: bancaynegocios

La entrada Microsoft becomes the most valuable company in the world apareció primero en Bitfinance.