#CryptoCorner #Podcast 854: #Stocks discussed: (NasdaqGS: $COIN) (TSXV: $BNXA.V) (OTC: $WONDF) (NasdaqCM: $DGHI)
#CryptoCorner #Podcast 854: #Stocks discussed:
(NasdaqGS: $COIN) (TSXV: $BNXA.V) (OTC: $WONDF) (NasdaqCM: $DGHI)
Coinbase Reduces
Staff by 18% Amid Market Crash, Banxa Partners with WonderFi, and Digihost to
Acquire New 55MW Site
Vancouver, Kelowna, Delta, BC June 14,
2022 - 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/2022/061422-CryptoMarket.mp3
Read this in full at https://www.investorideas.com/news/2022/crypto-corner/06141COIN-BNXA-WONDF-DGHI.asp
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Stocks discussed: (NasdaqGS:COIN) (TSXV:BNXA)
(OTC:WONDF) (NasdaqCM:DGHI)
In the wake of the
crypto market’s recent crash, exchange giant Coinbase (NasdaqGS:COIN) has reduced its staff by 18
percent. The announcement was made today in an official blog post by the company’s CEO, Brian
Armstrong. Armstrong cites changing economic conditions, the need to manage
spending in the bear market, and the company’s having grown too quickly as
reasons for the layoffs. Regarding the latter, Armstrong wrote:
At
the beginning of 2021, we had 1,250 employees. At the time, we were in the
early innings of the bull run and adoption of crypto products was exploding.
There were new use cases enabled by crypto getting traction practically every
week. We saw the opportunities but we needed to massively scale our team to be
positioned to compete in a broad array of bets. It’s challenging to grow at
just the right pace given the scale of our growth (~200% y/y since the
beginning of 2021). While we tried our best to get this just right, in this
case it is now clear to me that we over-hired.
Banxa Holdings Inc.
(TSXV:BNXA) has entered a new partnership with WonderFi
Technologies Inc. (OTC:WONDF). According to the press release,
this partnership facilitates the ability for WonderFi customers to “utilize
local payment and banking options with less friction, fewer fees, and better
fraud protection,” as well as the ability to “easily and securely convert fiat
currency to cryptocurrencies and back again.” Kevin O’Leary, Strategic Advisor
and Investor at WonderFi, said:
"With
regulatory interest in crypto rapidly increasing around the world, it is more
important than ever for Web3 to embrace best-in-class compliance and risk
management. Our partnership with Banxa provides this assurance for our
customers across the globe. WonderFi is committed to ensuring customers in our
network can transact crypto securely and confidently, without the concerns that
might come from less developed platforms."
Digihost Technology
Inc. (NasdaqCM:DGHI) has announced an agreement to acquire property in
the state of Alabama in order to expand its current operational capacity.
According to the press release, the site “consists of approximately 160,000
square feet of office and industrial warehouse space with initial access to 28
MW of power with total capacity of 55 MW.” Michel Amar, Chairman and CEO of
Digihost, said:
“The
Company has been pursuing opportunities to significantly increase the capacity
of our mining operations and diversify jurisdictional risk in an
environmentally conscious manner. This acquisition checked all the boxes for
Digihost as the Company is now in a position to double its current hash rate by
access to clean and renewable energy sources.”
Sam Mowers, Investorideas
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