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This Coinbase User Lost Over 200 Bitcoin To Scammers In Less Than 10 Minutes
Key takeaways
A U.S federal judge has approved a warrant to help recover stolen crypto funds.The warrant directs Huobi Global to freeze a wallet holding around $600,000 of Bitcoin belonging to a Coinbase user that lost around $11.6 million to fraudsters.A U.S. federal judge has intervened in a case brought before it, in which a Coinbase user lost around $11.6 million following an exchange account attack in April.
According to a Business Insider update on the matter, the district judge of the United States District Court for the Central District of California, Dolly M. Gee, approved a warrant to recover over $600,000 worth of Bitcoin (about 10.2) from a Huobi Global wallet after investigations revealed the amount held in the wallet as part of the stolen funds. The report noted that the cryptocurrency exchange had agreed to assist the court with recovering the crypto assets.
Key takeaways
A U.S federal judge has approved a warrant to help recover stolen crypto funds.The warrant directs Huobi Global to freeze a wallet holding around $600,000 of Bitcoin belonging to a Coinbase user that lost around $11.6 million to fraudsters.A U.S. federal judge has intervened in a case brought before it, in which a Coinbase user lost around $11.6 million following an exchange account attack in April.
According to a Business Insider update on the matter, the district judge of the United States District Court for the Central District of California, Dolly M. Gee, approved a warrant to recover over $600,000 worth of Bitcoin (about 10.2) from a Huobi Global wallet after investigations revealed the amount held in the wallet as part of the stolen funds. The report noted that the cryptocurrency exchange had agreed to assist the court with recovering the crypto assets.
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LATAM payment app MercadaPago to offer users bitcoin exchange and more via Paxos
Paxos, a crypto services platform, announced today that MercadoPago, the financial services arm of LATAM market portal MercadoLibre, will offer its Brazilian customers the opportunity to buy, sell and hold Bitcoin, Ethereum, and the Paxos-issued US dollar-backed stablecoin USDP.
This is Paxos’ second LATAM integration this week, as Uruguay-based app Prex also integrated Paxos. Importantly, this news from Paxos, MercadoLibre, and MercadoPago represents one of the single largest accessways to stablecoins within a non-crypto wallet to date.
Paxos, a crypto services platform, announced today that MercadoPago, the financial services arm of LATAM market portal MercadoLibre, will offer its Brazilian customers the opportunity to buy, sell and hold Bitcoin, Ethereum, and the Paxos-issued US dollar-backed stablecoin USDP.
This is Paxos’ second LATAM integration this week, as Uruguay-based app Prex also integrated Paxos. Importantly, this news from Paxos, MercadoLibre, and MercadoPago represents one of the single largest accessways to stablecoins within a non-crypto wallet to date.
LBank Exchange Will List Bitcicoin (BITCI) on January 7, 2022
INTERNET CITY, DUBAI, Dec. 29, 2021 – LBank Exchange, a global digital asset trading platform, will list Bitcicoin (BITCI) on January 7, 2022. For all users of LBank Exchange, the BITCI/USDT trading pair will be officially available for trading at 21:00 (UTC+8) on January 7, 2022.
Blockchain can be used to offer solutions for companies and corporations in various ways. As Turkey’s first blockchain network integrated into the stock exchange and payment platform, BitciChain has been optimized to provide companies and corporations with the best blockchain adaptation in ways such as creating tokens and smart contracts. Bitcicoin (BITCI), the mainnet coin of the BitciChain, will be listed on LBank Exchange at 21:00 (UTC+8) on January 7, 2022, to further expand its global reach and help it achieve its vision.
INTERNET CITY, DUBAI, Dec. 29, 2021 – LBank Exchange, a global digital asset trading platform, will list Bitcicoin (BITCI) on January 7, 2022. For all users of LBank Exchange, the BITCI/USDT trading pair will be officially available for trading at 21:00 (UTC+8) on January 7, 2022.
Blockchain can be used to offer solutions for companies and corporations in various ways. As Turkey’s first blockchain network integrated into the stock exchange and payment platform, BitciChain has been optimized to provide companies and corporations with the best blockchain adaptation in ways such as creating tokens and smart contracts. Bitcicoin (BITCI), the mainnet coin of the BitciChain, will be listed on LBank Exchange at 21:00 (UTC+8) on January 7, 2022, to further expand its global reach and help it achieve its vision.
Rolling Stone Partners With Coinbase, First Collaboration Is a Limited Edition NFT Collection
Following a two-year hiatus, the American magazine that’s dedicated to music, politics, and popular culture, Rolling Stone, announced the return of Rolling Stone Live. According to the publication, the Rolling Stone Live event marks the company’s first collaboration with Coinbase and the two firms will be dropping exclusive non-fungible tokens (NFTs).
Rolling Stone Live 2022 Will be Presented by Coinbase This Year, Event Will Feature a Limited Edition Collection of NFTs Crafted by 12 Digital ArtistsRolling Stone has teamed up with Coinbase in order to drop an exclusive Rolling Stone Live NFT collection featuring 12 digital artists in the blockchain space. According to Rolling Stone, the artists were tasked with creating the NFTs that also showcase the Rolling Stone logo. Artists include Deadfellaz, Elise Swopes, Boss Beauties, Kideight, Mikegrillmadeit, Markthehabibi, Domino, Giant Swan, Alida Sun, Jeff Manning, Mister Goldie, and Emonee LaRussa.
The American magazine says the event “marks the beginning of an ongoing partnership” between Rolling Stone and Coinbase. Later in the year, the announcement notes that the artwork will be animated before they are available for purchase via the marketplace Coinbase NFT. “The limited release will offer fans an extraordinary chance to own a piece of history created by some of the crypto space’s most influential digital artists,” Rolling Stone’s announcement explains.
Following a two-year hiatus, the American magazine that’s dedicated to music, politics, and popular culture, Rolling Stone, announced the return of Rolling Stone Live. According to the publication, the Rolling Stone Live event marks the company’s first collaboration with Coinbase and the two firms will be dropping exclusive non-fungible tokens (NFTs).
Rolling Stone Live 2022 Will be Presented by Coinbase This Year, Event Will Feature a Limited Edition Collection of NFTs Crafted by 12 Digital ArtistsRolling Stone has teamed up with Coinbase in order to drop an exclusive Rolling Stone Live NFT collection featuring 12 digital artists in the blockchain space. According to Rolling Stone, the artists were tasked with creating the NFTs that also showcase the Rolling Stone logo. Artists include Deadfellaz, Elise Swopes, Boss Beauties, Kideight, Mikegrillmadeit, Markthehabibi, Domino, Giant Swan, Alida Sun, Jeff Manning, Mister Goldie, and Emonee LaRussa.
The American magazine says the event “marks the beginning of an ongoing partnership” between Rolling Stone and Coinbase. Later in the year, the announcement notes that the artwork will be animated before they are available for purchase via the marketplace Coinbase NFT. “The limited release will offer fans an extraordinary chance to own a piece of history created by some of the crypto space’s most influential digital artists,” Rolling Stone’s announcement explains.
In Times of War, Crypto Assets Are ‘Almost Priceless,’ According to Macro Guru Raoul Pal
Real Vision chief executive Raoul Pal thinks the current geopolitical tension stemming from Russia’s invasion of Ukraine will ultimately demonstrate the value of crypto to the world.
In a new Real Vision video, the former Goldman Sachs executive says that the war and corresponding international political policies all play into what crypto means for people across the globe.
Real Vision chief executive Raoul Pal thinks the current geopolitical tension stemming from Russia’s invasion of Ukraine will ultimately demonstrate the value of crypto to the world.
In a new Real Vision video, the former Goldman Sachs executive says that the war and corresponding international political policies all play into what crypto means for people across the globe.
Bank of America Strategist Warns ‘Recession Shock’ Is Coming, Analyst Says Crypto Could Outperform Bonds
On Friday, Bank of America’s (BOFA) chief investment strategist Michael Hartnett explained in a weekly financial note to clients that the U.S. economy could head into a recession. The BOFA strategist’s note further detailed that cryptocurrencies could outperform bonds and stocks.
BOFA Strategist Notes inflation Shock Is Worsening, Cryptocurrencies Could Outperform Bonds and StocksBank of America’s chief investment strategist has warned the U.S. economy could feel some economic shocks. In recent times, inflation in the United States has run rampant and the Fed has felt the need to step in and manage the issue. On March 16, the U.S. Federal Reserve raised the benchmark bank rate for the first time since 2018, and the central bank expects six more increases this year. Meanwhile, on April 8, Reuters reports that BOFA’s Michael Hartnett says that the macro-economic situation is worsening.With the macro-economic environment in calamity, the Fed hiking rates, and the central bank tapering large-asset purchases, the BOFA strategist said the U.S. economy could be headed for a recession. Hartnett insists that “‘Inflation shock’ worsening, ‘rates shock’ just beginning, ‘recession shock’ coming.” The BOFA analyst’s statements follow U.S. bond markets signaling that an economic downturn is predicted. This took place last week when the spread between 2-year and 10-year Treasury yields inverted, signaling the U.S. economy may be headed for a recession.Hartnett’s note to investors on Friday further said that commodities, cash, and cryptocurrencies “could outperform bonds and stocks,” according to the Reuters author Julien Ponthus. The BOFA note said that during the last ten weeks, emerging market equity funds saw better market performances as did debt vehicles. During the last six months, Bank of America has had a lot to say about cryptocurrencies. For instance, a BOFA analyst said in January that the smart contract platform token Solana’s market cap could take market share away from the current leader Ethereum.
Mortgage Rates Rise, BOFA Downgrades 9 Transport Stocks, BOFA Institute Says Households Have More Cash on Hand
On Friday, Bank of America’s (BOFA) chief investment strategist Michael Hartnett explained in a weekly financial note to clients that the U.S. economy could head into a recession. The BOFA strategist’s note further detailed that cryptocurrencies could outperform bonds and stocks.
BOFA Strategist Notes inflation Shock Is Worsening, Cryptocurrencies Could Outperform Bonds and StocksBank of America’s chief investment strategist has warned the U.S. economy could feel some economic shocks. In recent times, inflation in the United States has run rampant and the Fed has felt the need to step in and manage the issue. On March 16, the U.S. Federal Reserve raised the benchmark bank rate for the first time since 2018, and the central bank expects six more increases this year. Meanwhile, on April 8, Reuters reports that BOFA’s Michael Hartnett says that the macro-economic situation is worsening.With the macro-economic environment in calamity, the Fed hiking rates, and the central bank tapering large-asset purchases, the BOFA strategist said the U.S. economy could be headed for a recession. Hartnett insists that “‘Inflation shock’ worsening, ‘rates shock’ just beginning, ‘recession shock’ coming.” The BOFA analyst’s statements follow U.S. bond markets signaling that an economic downturn is predicted. This took place last week when the spread between 2-year and 10-year Treasury yields inverted, signaling the U.S. economy may be headed for a recession.Hartnett’s note to investors on Friday further said that commodities, cash, and cryptocurrencies “could outperform bonds and stocks,” according to the Reuters author Julien Ponthus. The BOFA note said that during the last ten weeks, emerging market equity funds saw better market performances as did debt vehicles. During the last six months, Bank of America has had a lot to say about cryptocurrencies. For instance, a BOFA analyst said in January that the smart contract platform token Solana’s market cap could take market share away from the current leader Ethereum.
Mortgage Rates Rise, BOFA Downgrades 9 Transport Stocks, BOFA Institute Says Households Have More Cash on Hand
Kevin O’Leary Predicts Trillions of Dollars Will Flood Into Crypto — Says Bitcoin Mining Will ‘Save the World’
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has predicted that trillions of dollars will flow into cryptocurrencies, particularly bitcoin. In addition, he said bitcoin mining will “save the world.”
O’Leary Says ‘Spigots of Capital’ Will Flood Into Crypto Like You’ve Never SeenShark Tank star Kevin O’Leary gave a keynote speech at the Bitcoin 2022 conference Thursday.He said that based on his experience in the indexing business, “massive pools of capital, these trillion-dollar pools” are waiting for policy. They currently own zero or very little crypto. “It’s the purvey of high net worth individuals, hedge funds, and retail investors,” he clarified.Mr. Wonderful detailed:
What we’re missing is policy. When we get policy and the regulator regulates, that’s not a negative thing. The spigots of capital are going to flood into this sector like you’ve never seen.
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has predicted that trillions of dollars will flow into cryptocurrencies, particularly bitcoin. In addition, he said bitcoin mining will “save the world.”
O’Leary Says ‘Spigots of Capital’ Will Flood Into Crypto Like You’ve Never SeenShark Tank star Kevin O’Leary gave a keynote speech at the Bitcoin 2022 conference Thursday.He said that based on his experience in the indexing business, “massive pools of capital, these trillion-dollar pools” are waiting for policy. They currently own zero or very little crypto. “It’s the purvey of high net worth individuals, hedge funds, and retail investors,” he clarified.Mr. Wonderful detailed:
What we’re missing is policy. When we get policy and the regulator regulates, that’s not a negative thing. The spigots of capital are going to flood into this sector like you’ve never seen.
Gucci to Accept Crypto Payments in Retail Stores
High-end fashion house Gucci will begin accepting cryptocurrencies at some of its stores this month, including bitcoin, ether, dogecoin, and shiba inu. The company plans for all of its directly operated stores in North America to accept crypto by this summer.
Gucci to Start Accepting Crypto PaymentsItalian high-end luxury fashion house Gucci will start accepting cryptocurrency payments in five stores later this month, Vogue Business reported Wednesday.
The five stores are located in New York City (Wooster Street), Los Angeles (Rodeo Drive), Miami (Design District), Atlanta (Phipps Plaza), and Las Vegas (The Shops at Crystals).
High-end fashion house Gucci will begin accepting cryptocurrencies at some of its stores this month, including bitcoin, ether, dogecoin, and shiba inu. The company plans for all of its directly operated stores in North America to accept crypto by this summer.
Gucci to Start Accepting Crypto PaymentsItalian high-end luxury fashion house Gucci will start accepting cryptocurrency payments in five stores later this month, Vogue Business reported Wednesday.
The five stores are located in New York City (Wooster Street), Los Angeles (Rodeo Drive), Miami (Design District), Atlanta (Phipps Plaza), and Las Vegas (The Shops at Crystals).
Coinweb is one of the most promising projects
Now the price of CWEB token on exchanges Gate.io and Kucoin grows against the market. The project is the killer of DOT and similar services. Now its price is only $0.02, although at the start of trading a few months ago it was worth more than $0.2. Analysts agree that the token could be worth more than $0.5 by the fall, and will reach $1 in 2023.
Now the price of CWEB token on exchanges Gate.io and Kucoin grows against the market. The project is the killer of DOT and similar services. Now its price is only $0.02, although at the start of trading a few months ago it was worth more than $0.2. Analysts agree that the token could be worth more than $0.5 by the fall, and will reach $1 in 2023.
Institutional Investors Are Now Accumulating Bitcoin and One of Ethereum’s Biggest Competitors: CoinShares
New data shows institutional investors are jumping on the opportunity to buy Bitcoin and one of Ethereum’s main competitors.
In its latest Digital Asset Fund Flows Weekly report, CoinShares finds digital asset investment products enjoyed inflows nearing $90 million last week, with leading crypto asset Bitcoin taking the lion’s share.
New data shows institutional investors are jumping on the opportunity to buy Bitcoin and one of Ethereum’s main competitors.
In its latest Digital Asset Fund Flows Weekly report, CoinShares finds digital asset investment products enjoyed inflows nearing $90 million last week, with leading crypto asset Bitcoin taking the lion’s share.
LBank Exchange Will List Smart Reward Token (SRT) on June 2, 2022
INTERNET CITY, DUBAI, May. 31, 2022 – LBank Exchange, a global digital asset trading platform, will list Smart Reward Token (SRT) on June 2, 2022. For all users of LBank Exchange, the SRT/USDT trading pair will be officially available for trading at 16:00 (UTC+8) on June 2, 2022.
Partnered with DANBI KOREA, SMART REWARDS CORP. developed an incentive token called Smart Rewards Token (SRT), so that it can be used in DANBI’s Cash.Fi service, as well as in online and offline stores through partnered retail stores. The SRT token will be listed on LBank Exchange at 16:00 (UTC+8) on June 2, 2022, to further expand its global reach and help it achieve its vision.
INTERNET CITY, DUBAI, May. 31, 2022 – LBank Exchange, a global digital asset trading platform, will list Smart Reward Token (SRT) on June 2, 2022. For all users of LBank Exchange, the SRT/USDT trading pair will be officially available for trading at 16:00 (UTC+8) on June 2, 2022.
Partnered with DANBI KOREA, SMART REWARDS CORP. developed an incentive token called Smart Rewards Token (SRT), so that it can be used in DANBI’s Cash.Fi service, as well as in online and offline stores through partnered retail stores. The SRT token will be listed on LBank Exchange at 16:00 (UTC+8) on June 2, 2022, to further expand its global reach and help it achieve its vision.
USDT is Resilient and Has Undergone a Successful Stress Test With the Collapse of Terra, Says the Team at Tether
Quick take:
The Tether team believes that USDT has proven to be resilient amidst the events surrounding UST’s collapse.USDT’s stability in the last month is evidence that it has successfully undergone a stress test.The resilience of USDT is further amplified by the fact that Tether is fully backed.Tether also recently faced $10 billion in redemption requests which it completed without a single hiccup.The team at Tether has released a new report highlighting that its stablecoin of USDT has proven to be resilient amidst the events surrounding UST’s collapse. According to the team at Tether, USDT underwent a stress test due to the ripple effect of UST’s depegging and proved successful.
A Fractional Reserve System amplifies Bank Runs.The report provided a brief history of bank runs dating back to the 1800s and the early 1900s in the United States. In addition, the team at Tether explained the 21st century has not witnessed frequent bank runs apart from the collapse of the Lehman Brothers that ignited the 2008 financial crisis.
However, when they occur, Bank runs ‘are fundamentally caused by a confidence crisis that pushes depositors to withdraw all their money, and because the bank uses a fractional reserve system, the bank cannot fulfill the redemption requests.’
Quick take:
The Tether team believes that USDT has proven to be resilient amidst the events surrounding UST’s collapse.USDT’s stability in the last month is evidence that it has successfully undergone a stress test.The resilience of USDT is further amplified by the fact that Tether is fully backed.Tether also recently faced $10 billion in redemption requests which it completed without a single hiccup.The team at Tether has released a new report highlighting that its stablecoin of USDT has proven to be resilient amidst the events surrounding UST’s collapse. According to the team at Tether, USDT underwent a stress test due to the ripple effect of UST’s depegging and proved successful.
A Fractional Reserve System amplifies Bank Runs.The report provided a brief history of bank runs dating back to the 1800s and the early 1900s in the United States. In addition, the team at Tether explained the 21st century has not witnessed frequent bank runs apart from the collapse of the Lehman Brothers that ignited the 2008 financial crisis.
However, when they occur, Bank runs ‘are fundamentally caused by a confidence crisis that pushes depositors to withdraw all their money, and because the bank uses a fractional reserve system, the bank cannot fulfill the redemption requests.’
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KuCoin CEO Refutes Rumors that the Exchange Will Pause Withdrawals or Had Exposure to 3AC, LUNA or Babel Finance.
Summary:
KuCoin CEO, Johnny Lyu, has debunked rumors that the exchange will soon pause withdrawals.According to Mr. Lyu, KuCoin does not have direct exposure to collapsed LUNA, Three Arrows Capital, or Babel Finance.He further reassures that ‘everything on KuCoin is operating well.’The CEO of KuCoin, Johnny Lyu, has refuted claims that the crypto exchange is experiencing liquidity issues that could cause it to pause withdrawals in a manner similar to Celsius Network.
Mr. Lyu also clarified that the crypto exchange has no exposure to collapsed LUNA, Three Arrows Capital, Babel Finance, or any other crypto project undergoing financial woes due to the ongoing crypto winter. He shared his insights into the current operations at KuCoin through the following Tweet.
Summary:
KuCoin CEO, Johnny Lyu, has debunked rumors that the exchange will soon pause withdrawals.According to Mr. Lyu, KuCoin does not have direct exposure to collapsed LUNA, Three Arrows Capital, or Babel Finance.He further reassures that ‘everything on KuCoin is operating well.’The CEO of KuCoin, Johnny Lyu, has refuted claims that the crypto exchange is experiencing liquidity issues that could cause it to pause withdrawals in a manner similar to Celsius Network.
Mr. Lyu also clarified that the crypto exchange has no exposure to collapsed LUNA, Three Arrows Capital, Babel Finance, or any other crypto project undergoing financial woes due to the ongoing crypto winter. He shared his insights into the current operations at KuCoin through the following Tweet.
Forwarded from CryptoSoul
Get a free NFT land in the new metauniverse RIGHT NOW!
Friends, last year we were actively working on our metauniverse Crypto Soul World. And now, it's time to announce the imminent launch of this ambitious project! Right now you can buy CSW token on PancakeSwap early presale. In a month this token will be added to centralized exchanges like Kucoin and Huobi, and in December we plan a listing on Binance.
CSW is a metauniverse utility token with which you can buy NFT land and NFT characters in Crypto Soul World universe. Details about the universe itself are still under wraps, but we will be publishing a Lite Paper very soon.
1. Go to https://pancakeswap.finance/swap
2. Find a pair BNB/CSW (CSW contract address: 0xA62106602B7F0ced0101F497F60E5Ad7AAc3DCBE)
3. Swap 10 000 CSW tokens or more and hold it at your wallet until the metauniverse launch.
When the universe is launched, each CSW token holder will receive an NFT plot of land at the rate of 10 000 tokens = 1 NFT! For example, if you buy and hold 50 000 CSW tokens, you will receive 5 NFT when the metauniverse is launched!
Hurry up, only 800,000 tokens are available for sale right now. Max 80 NFT plots will be distributed among all presale participants.
The metauniverse is scheduled to launch on September 1.
Friends, last year we were actively working on our metauniverse Crypto Soul World. And now, it's time to announce the imminent launch of this ambitious project! Right now you can buy CSW token on PancakeSwap early presale. In a month this token will be added to centralized exchanges like Kucoin and Huobi, and in December we plan a listing on Binance.
CSW is a metauniverse utility token with which you can buy NFT land and NFT characters in Crypto Soul World universe. Details about the universe itself are still under wraps, but we will be publishing a Lite Paper very soon.
1. Go to https://pancakeswap.finance/swap
2. Find a pair BNB/CSW (CSW contract address: 0xA62106602B7F0ced0101F497F60E5Ad7AAc3DCBE)
3. Swap 10 000 CSW tokens or more and hold it at your wallet until the metauniverse launch.
When the universe is launched, each CSW token holder will receive an NFT plot of land at the rate of 10 000 tokens = 1 NFT! For example, if you buy and hold 50 000 CSW tokens, you will receive 5 NFT when the metauniverse is launched!
Hurry up, only 800,000 tokens are available for sale right now. Max 80 NFT plots will be distributed among all presale participants.
The metauniverse is scheduled to launch on September 1.
pancakeswap.finance
Exchange | PancakeSwap
Trade, earn, and own crypto on the all-in-one multichain DEX
Meta Reportedly Issuing $10 Billion in Bonds to Invest in Its Metaverse Products and Other Initiatives
Meta, the social media company, is planning to issue its first set of bonds to finance new investments and operations, according to reports. The company will be selling $10 billion in debt, to maintain a healthy cash flow and fund buybacks, per statements of two people with reported knowledge of the deal.
Meta to Issue Bonds to Finance New InvestmentsMeta, one of the first companies that pivoted to the metaverse as part of its main business model, is set to issue debt in order to continue to fund part of its operations and to maintain a healthy free cash flow. According to reports coming from people close to the deal, the company will be issuing $10 billion in bonds as part of the first debt offering of this kind for the tech giant.
The operation, which was set to happen Thursday, has received a big response, with investors offering $30 billion to take advantage of this move. The bonds will have different maturities, going from five years to 40 years, with the majority of the demand being directed towards the latter.
Per source statements, the offering has been in the works for the last two months, with Meta deciding to launch it after releasing its latest earnings report in July. The company obtained satisfactory ratings from different agencies, getting an ‘A1’ rating from Moody’s and an ‘AA- rating’ and a ‘stable’ outlook from S&P.
An Expensive Metaverse MoveThe issuance of this bond has to do with the shrinkage of the free cash flow that the company has experienced during the last year. Meta had $4.45 billion in free cash flow, compared to the $8.51 billion the company had a year ago. Sources indicated that the bond offering will have the objective of giving the company more breathing room to keep funding part of its operations, including its metaverse initiatives.
Meta’s metaverse push is costing the company a lot of funds in research and development. In its latest earnings call, the company reported that its metaverse unit, Reality Labs, had reached sales of more than $400 million, but registered losses of more than $2.8 billion during Q2 2022. Predictions are not good either, with the company acknowledging that Reality Labs would continue to lose money during Q3.
Meta has also made some moves on the sales side of the equation, raising the price of its flagship VR headset, the Quest 2, by $100 “in order to continue investing in moving the VR industry forward for the long term.”
Meta, the social media company, is planning to issue its first set of bonds to finance new investments and operations, according to reports. The company will be selling $10 billion in debt, to maintain a healthy cash flow and fund buybacks, per statements of two people with reported knowledge of the deal.
Meta to Issue Bonds to Finance New InvestmentsMeta, one of the first companies that pivoted to the metaverse as part of its main business model, is set to issue debt in order to continue to fund part of its operations and to maintain a healthy free cash flow. According to reports coming from people close to the deal, the company will be issuing $10 billion in bonds as part of the first debt offering of this kind for the tech giant.
The operation, which was set to happen Thursday, has received a big response, with investors offering $30 billion to take advantage of this move. The bonds will have different maturities, going from five years to 40 years, with the majority of the demand being directed towards the latter.
Per source statements, the offering has been in the works for the last two months, with Meta deciding to launch it after releasing its latest earnings report in July. The company obtained satisfactory ratings from different agencies, getting an ‘A1’ rating from Moody’s and an ‘AA- rating’ and a ‘stable’ outlook from S&P.
An Expensive Metaverse MoveThe issuance of this bond has to do with the shrinkage of the free cash flow that the company has experienced during the last year. Meta had $4.45 billion in free cash flow, compared to the $8.51 billion the company had a year ago. Sources indicated that the bond offering will have the objective of giving the company more breathing room to keep funding part of its operations, including its metaverse initiatives.
Meta’s metaverse push is costing the company a lot of funds in research and development. In its latest earnings call, the company reported that its metaverse unit, Reality Labs, had reached sales of more than $400 million, but registered losses of more than $2.8 billion during Q2 2022. Predictions are not good either, with the company acknowledging that Reality Labs would continue to lose money during Q3.
Meta has also made some moves on the sales side of the equation, raising the price of its flagship VR headset, the Quest 2, by $100 “in order to continue investing in moving the VR industry forward for the long term.”
Forwarded from CryptoSoul
FREE NFT GIVEAWAY!
Less than a month remains before the public release of our metaverse Crypto Soul World. Upon release to centralized exchanges, the price of the CSW token will start at $0.5 per token. Now there is a presale of token on PancakeSwap exchange, only 800,000 tokens are sold now on special conditions for members of our community.
Everyone who buys 10,000 tokens on the PancakeSwap exchange and holds tokens by September 1 will receive 1 NFT value for every 10,000 tokens to their wallet.
Right now the price of a token is only $0.01 and continues to rise due to high demand.
1. Go to https://pancakeswap.finance/swap
2. Find a pair BNB/CSW (CSW contract address: 0xA62106602B7F0ced0101F497F60E5Ad7AAc3DCBE)
3. Swap 10 000 CSW tokens or more and hold it at your wallet until the project launch.
Less than a month remains before the public release of our metaverse Crypto Soul World. Upon release to centralized exchanges, the price of the CSW token will start at $0.5 per token. Now there is a presale of token on PancakeSwap exchange, only 800,000 tokens are sold now on special conditions for members of our community.
Everyone who buys 10,000 tokens on the PancakeSwap exchange and holds tokens by September 1 will receive 1 NFT value for every 10,000 tokens to their wallet.
Right now the price of a token is only $0.01 and continues to rise due to high demand.
1. Go to https://pancakeswap.finance/swap
2. Find a pair BNB/CSW (CSW contract address: 0xA62106602B7F0ced0101F497F60E5Ad7AAc3DCBE)
3. Swap 10 000 CSW tokens or more and hold it at your wallet until the project launch.
pancakeswap.finance
Exchange | PancakeSwap
Trade, earn, and own crypto on the all-in-one multichain DEX
Forwarded from CryptoSoul
Get a piece of NFT land in the Crypto Soul World metaverse!
Everyone who buys 10,000 tokens CSW on the PancakeSwap exchange and holds tokens till the 1st of September will receive 1 NFT value for every 10,000 tokens to their wallet.
Right now the price of a token is only $0.01 and continues to rise due to high demand.
1. Go to https://pancakeswap.finance/swap
2. Find a pair BNB/CSW (CSW contract address: 0xA62106602B7F0ced0101F497F60E5Ad7AAc3DCBE)
3. Swap 10 000 CSW tokens or more and hold it at your wallet until the project launch.
Everyone who buys 10,000 tokens CSW on the PancakeSwap exchange and holds tokens till the 1st of September will receive 1 NFT value for every 10,000 tokens to their wallet.
Right now the price of a token is only $0.01 and continues to rise due to high demand.
1. Go to https://pancakeswap.finance/swap
2. Find a pair BNB/CSW (CSW contract address: 0xA62106602B7F0ced0101F497F60E5Ad7AAc3DCBE)
3. Swap 10 000 CSW tokens or more and hold it at your wallet until the project launch.
