#CryptoCorner
Episode 445: Canaan (NasdaqGS: $CAN) Reports Q2 Results, Signature Bank (NasdaqGS:
$SBNY) Extends $20 Million in Loans to Digital Asset Firms, Bank of Korea Eyes
Partner for Second Phase of CBDC
Point Roberts, WA, Delta BC August 31, 2020 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.
Listen
to today’s Crypto Corner Podcast:
https://www.investorideas.com/Audio/Podcasts/2020/083120-CryptoMarket.mp3
Read
this in full at https://www.investorideas.com/news/2020/crypto-corner/08311CAN-SBNY.asp
Get the Crypto Corner Podcast on iTunes
Get the Crypto corner on Spotify
Stocks discussed: (NasdaqGS:CAN) (NasdaqGS:SBNY)
Canaan Inc. (NasdaqGS:CAN) has reported its unaudited
operating and financial results for the second quarter of 2020. The company’s
total net revenues reached $25.2 million, a 26.3 percent year-over-year
decrease from the same period in 2019, which roughly corresponds with an 18.2
percent decrease in the company’s total computing power sold from 3.2 million
THash/s in Q2 2019, to 2.6 million THash/s in Q2 2020. Canaan Chairman and CEO,
Nangeng Zhang, said:
“During the second quarter of 2020, the COVID-19
pandemic continued to impact the lives of people around the world and the
Bitcoin halving event also caused significant volatility in Bitcoin prices.
Nevertheless, we remained focused on strengthening our research and development
capabilities, refining our product offerings, and executing our AI initiatives.
These efforts enabled us to achieve meaningful financial and operational
improvements on a sequential basis [in] the second quarter as well as helped to
ensure that our products could maintain their positions at the cutting edge of
technological innovation. Going forward, we are confident that our strong
pipeline of next-generation products will continue to sustain our growth
momentum in the future.”
CoinDesk reports that
Signature Bank (NasdaqGS:SBNY) extended around $20 million in
loans under the federal Paycheck Protection Program (PPP) to “roughly 40 firms
in the digital asset space.” Signature Bank CEO Joseph DePaolo told CoinDesk:
“I believe I said it about a year and a half ago, that
if you weren’t into blockchain technology and the digital world in five years,
you would have a problem as a bank. There’s three and a half years left, and it
may be sooner. I think the situation we have right now with this pandemic and
the quagmire, it’s going to make the public look at digital currencies.”
The
Korea Times
reports that the Bank of Korea (BOK), South Korea’s central bank, is gearing up
to begin a pilot test of its own central bank digital currency (CBDC) system by
the end of 2021. Having completed the first phase of the project last month,
the BOK is now looking for a potential partner to help “establish a CBDC system
architecture based on the first-phase research results.” A central bank
official told The Korea Times:
"The BOK will team up with a consulting partner to
map out the overall work process and architecture to operate the digital
currency system, and both sides will also come up with specific action plans to
successfully establish the pilot system on time.”
Sam
Mowers, Investorideas
For
investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
and Digital Currency Stocks Directory
About Investorideas.com - News that Inspires Big
Investing Ideas Investorideas.com
is a recognized news source publishing third party news, research and original
financial content. Learn about investing in stocks and sector trends with our
news alerts, articles, podcasts and videos,
looking at cannabis, crypto, AI and IoT, mining, sports biotech, water,
renewable energy and more. Investor Idea’s original branded content includes
the following podcasts and columns : Crypto Corner , Play
by Play
sports and stock news column, Investor Ideas Potcasts Cannabis News and
Stocks on the Move podcast and column, Cleantech
and Climate Change
, Exploring
Mining the AI
Eye .
The Crypto Corner is part of the Investor Ideas
Membership content
The Investorideas.com podcasts are also available on
iTunes, Spotify, Tunein, Stitcher,
Spreaker.com, iHeartRadio and Google Play Music.
Visit the Podcast page at Investorideas.com: https://www.investorideas.com/Audio/
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third
party sourced news, articles and equity research as well as creates original
content, including video, interviews and articles. Original content created by
investorideas is protected by copyright laws other than syndication rights. Our
site does not make recommendations for purchases or sale of stocks, services or
products. Nothing on our sites should be construed as an offer or solicitation
to buy or sell products or securities. All investing involves risk and possible
losses. This site is currently compensated for news publication and
distribution, social media and marketing, content creation and more. Disclosure
is posted for each compensated news release, content published /created if
required but otherwise the news was not compensated for and was published for
the sole interest of our readers and followers. Contact management and IR of
each company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more
about publishing your news release and our other news services on the
Investorideas.com newswire https://www.investorideas.com/News-Upload/ and
tickertagstocknews.com
Global
investors must adhere to regulations of each country. Please read
Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Cryptocurrency Disclaimer
Investorideas.com news
content is not meant to be a solicitation to buy or sell cryptocurrencies and
Investorideas.com does not directly sell cryptocurrencies; but acts as a news
and research resource for interested investors following the blockchain sector.
Copyright and ownership:
Crypto Corner is an Investorideas.com content brand
Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Download our Mobile App for iPhone and
Android
Join our Investor Club https://www.investorideas.com/membership/
Contact
Investorideas.com
800-665-0411
Get more Bitcoin
and Blockchain Investor ideas – news, articles, podcasts
and stock directories
