Marathon Digital bungles crypto impairment sums, will reissue financials
The Bitcoin miner received a letter from the SEC on Feb. 22 which highlighted accounting mistakes it made on multiple financial disclosures.This post was originally published on this site
Stablecoins and CBDCs might play ‘meaningful role’ in payments — Visa CEO
Visa began working on a blockchain interoperability project in September 2021 to support CBDC and stablecoin adoption but few updates have been made since. This post was originally published on this site
Meta reportedly plans ‘large-scale layoffs,’ but what of its metaverse division?
As of the end of September, Meta had more than 87,000 employees — a large proportion of which is said to work in the Reality Labs division. This post was originally published on this site
Google feels the bear market as crypto ad revenues slip since July
Alphabet’s revenue from Google advertising was down in Q3 2022, with decreased search spending from financial services and cryptocurrency subcategories highlighted. This post was originally published on this site
Meta’s Metaverse Is Still Not Profitable: Reality Labs Unit Registers $2.8 Billion Losses During Q2
Meta, the social media company, has reported that its metaverse division, the Reality Labs Unit, is shedding lots of money. In its recent earnings call, the company informed that, while the Reality Labs unit managed to pull more than $400 million in sales, its losses reached $2.8 billion, mainly due to research and development costs […]
Square Enix to Reinforce Blockchain Bet, According to Latest Earnings Report
Square Enix has announced its new mid-term business plan, reinforcing its blockchain pivot according to the documents presented. The company will continue to invest in key companies in the blockchain arena, including Animoca Brands and The Sandbox, and will also consider other investments in the area. Square Enix recently sold its Western studios for $300 […]