Nevada Copper Reveals Its In Default On Debt, May See Assets Secured By Creditors
The problem with mine development, is it takes money to do it. And if you don’t have the money, like Nevada Copper (TSX: NCU), your project becomes dead on arrival. Nevada Copper knows this all too well, announcing mid-day during the Canada Day holiday that the company is effectively being forced to halt development of […]
Can FTX Even Afford To Buy Robinhood?
Robinhood Markets, Inc. (NASDAQ: HOOD) shares jumped 14% on June 27 after Bloomberg reported that the private cryptocurrency exchange FTX was considering whether to make a bid to acquire the company. Subsequently, FTX’s Founder and CEO Sam Bankman-Fried put out a statement saying “there are no active M&A conversations with Robinhood.” Of course, this statement does not definitively […]
Voyager Digital Halts Deposits, Withdrawals On Platform Following 3AC Loan Default
It appears that the end of Voyager Digital (TSX: VOYG) is upon us. The crypto platform this afternoon formally announced that it is suspending all withdrawals, deposits, trading and loyalty rewards as of 2:00 PM EST today. The development follows the formal announcement earlier this week that Three Arrows Capital, or 3AC, has defaulted on […]
Cathie Wood Declares The US Is Already In Recession, Contrary To What Economists Say
Ark Invest’s founder and CEO Cathie Wood is back making headlines with a new declaration: the US is already in recession. And she believes it has been since the first quarter of the year. Wood, who’s more recently known for making wrong calls, on Tuesday appeared on CNBC’s Squawk Box and warned of excess inventories: […]
Grayscale Challenges SEC Decision Denying Its Spot Bitcoin ETF
Grayscale Investments is taking the US Security and Exchange Commissions to court after the regulatory body denied its application to convert Grayscale Bitcoin Trust (OTCQX: GBTC) to a spot Bitcoin ETF. “Grayscale supports and believes in the SEC’s mandate to protect investors, maintain fair, orderly, and efficient markets and facilitate capital formation — and we are […]
Meta Cuts Down Hiring To Brace For “One Of The Worst Downturns In Recent History”
Meta Platforms (Nasdaq: META) is slashing down 30% of its hiring plans this year, according to CEO Mark Zuckerberg, as he expects an imminent economic downturn. “If I had to bet, I’d say that this might be one of the worst downturns that we’ve seen in recent history,” Zuckerberg told Meta employees in a weekly Q&A, of […]
California Legislature Passes Bill That Could Extend Lifeline For Diablo Canyon Nuclear Plant
The state’s bicameral legislature passed a bill that aims to establish a fund that will empower California to augment its power generating capacity to a more strategically sustainable sufficiency. The policy move is seen to potentially extend the lifeline of the 2,240-MW Diablo Canyon Nuclear Power Plant, set to fully close in August 2025. The […]
Fortress Pulled a Fast One on the Ponzi Police
This column is on record as a purist regarding the term “ponzi scheme.” The click-hungry media has come to use it to describe any of the growing numbers of financial frauds emerging in this over-securitized economy, and even many perfectly legal high-risk investments. But we like to keep its definition to the scams that work […]
Europe Faces Possible Total Gas Pipeline Shutdowns From Russia, UK
Europe needs to prepare for a total shutdown of gas pipelines flowing from Russia and the Group of 7 nations needs to weigh in, according to an analyst. “Russia already has cut back substantially on gas flowing to Germany and through Ukraine, so shutting down the pipelines is not inconceivable,” said Jeffrey Schott, a senior fellow at […]
Whitecap Resources To Acquire Exxon’s XTO Energy Canada In A $1.9 Billion All-Cash Deal
Whitecap Resources Inc. (TSX: WCP) continues its acquisition strategy with a purchase and sale agreement to acquire XTO Energy Canada. The transaction is reportedly for a total cash consideration of $1.9 billion, net $1.7 billion after assuming positive working capital on closing. The acquisition is set to expand the firm’s Montney assets with a total of 598,000 […]