Robinhood: Active Users Continue To Fall Despite Positive Earnings
After the market closed on August 2, Robinhood Markets, Inc. (NASDAQ: HOOD) reported its first ever quarterly profit (positive US$0.03 per share) when it announced 2Q 2023 results. In addition, the company’s 2Q 2023 revenue reached US$486 million, besting analysts’ expectations of US$474 million, though shy of its all-time high (in any quarter) of US$565 million in 2Q […]
New SEDAR Is Somehow Worse Than Old SEDAR
“UI”, and “UX” weren’t considerations in the pre-iMac world where the crude instrument that was Original SEDAR was forged. System for Electronic Document Analysis and Retrieval is the kind of name they gave computer systems in an era where computers were all business, and the notion that it would ever have to appeal to consumers […]
Coinbase: Fed XRP Decision Is Bearish For Crypto
On July 31, Judge Jed Rakoff of the U.S. District Court of the Southern District of New York denied stablecoin issuer Terraform Labs’ motion to dismiss a lawsuit filed against it by the SEC. In February 2023, the SEC charged Terraform Labs with violating securities law by offering and selling an algorithmic stablecoin (Terra USD) and […]
Chrystia Freeland Says Canada Abolished Slavery…Before Canada Became A Country
Canada’s Deputy Prime Minister and Minister of Finance Chrystia Freeland may have just been caught spreading some unfortunate misinformation when she posted about Emancipation Day on Tuesday. Freeland said that slavery was abolished in Canada 189 years ago. Twitter/X users, including energy sector analyst Melissa Mbarki, were quick to point out that 189 years ago […]
Long-Lasting Bond: 375-Year-Old Bond Still Pays Interest to Yale University
Today we go back to 2015 when Yale University first collected interest from an almost 400-year-old bond written in goatskin. The tale was invoked recently by the Financial Times in its story on bonds and how the bond market will shape the next financial crisis. The story goes that in 1648, the Netherlands embarked on […]
France’s AFP Sues Elon Musk’s Twitter/X for Refusal to Pay For Links Shared on the Platform
Agence France-Presse (AFP) has recently announced that it is pursuing legal action against X, the platform formerly known as Twitter. The legal action is based on alleged copyright violations and a refusal by Twitter/X to engage in discussions regarding the remuneration of news content shared on the platform. The news agency has filed a lawsuit […]
Freeland Proudly Says She Doesn’t Own A Car…But Skips Mention of Tax-Funded Chauffeur Service
Deputy Prime Minister Chrystia Freeland faced scrutiny after downplaying her use of taxpayer-funded cars while discussing spiking fuel costs in Atlantic Canada. Responding to questions from reporters in Charlottetown, P.E.I., Freeland admitted she doesn’t own a car due to the convenience of public transportation in downtown Toronto. “I am right now an MP for downtown […]
Class Action Targets Tesla for Alleged Deceptive EV Range Advertising
Three Tesla owners from California have jointly filed a proposed class action lawsuit against the electric vehicle manufacturer, alleging false advertising of driving ranges for its EVs. The legal action, lodged in the US District Court for the Northern District of California, refers to a recent Reuters article disclosing Tesla’s establishment of a “Diversion Team” […]
Rapper Razzlekhan, Husband Plead Guilty To $3.5 Billion Crypto Hack Tied To Bitfinex
A married couple hailing from New York City has pleaded guilty to charges related to money laundering conspiracies linked to a major hack that resulted in the theft of around 120,000 bitcoins from Bitfinex, a prominent global cryptocurrency exchange. Ilya Lichtenstein, aged 35, and his wife Heather Morgan, aged 33, were apprehended in February 2022 […]
DraftKings Sees First Positive Adjusted EBITDA In Q2 2023
DraftKings Inc. (NASDAQ: DKNG) reported its financial performance in the second quarter of 2023, outperforming market expectations and showing significant growth compared to the previous year. The firm posted $874.93 million in revenue for the quarter ending in June 2023, exceeding the consensus estimate by 14.78%. Comparatively, the year-ago revenues stood at $466.19 million and […]