Earnings

Axie Infinity Raises $152M from a16z to Accelerate Play-to-Earn

Share some Bitpinas love:Sky Mavis, the developers of breakout game Axie Infinity, announces that it has successfully raised $152 million that will be used to build its global team, scale its infrastructure and build a distribution platform that game developers can use to create and distribute their blockchain games. The series B round is led by Andreessen Horowitz (a16z) and participated by Accel and Paradigm. A16z previously invested in play-to-earn gaming group Yield Guild Games, which has more than 3,000 scholars playing Axie Infinity.While the play-to-earn (P2E) model, which means

Crypto Shorts, Robinhood Revenue, Plus500 H1, XRP Market Cap: Editor’s Pick

In a quieter week for news, let’s take a look at the news stories that dominated the worlds of forex, fintech and crypto in our best of the week segment.$160 Million Worth of Crypto Shorts Liquidated in the Last 24 HoursThe trading week kicked off with the news that the total market cap of crypto assets crossed the level of $2 trillion on Sunday after a strong rally in altcoins.Almost $160 million worth of short crypto trading positions were liquidated in the previous 24 hours. Approximately $55 million worth of short

Episode #339: George Davis, Hotchkis & Wiley, “We’re In Unchartered Territory Right Now”

Episode #339: George Davis, Hotchkis & Wiley, “We’re In Unchartered Territory Right Now” Guest: George Davis serves as CEO and is responsible for setting the firm’s strategic direction. Mr. Davis also serves as a portfolio manager on the Large Cap Fundamental Value and Large Cap Diversified Value portfolios. Date Recorded: 7/21/2021     |     Run-Time: 49:27 Summary: In today’s episode, we’re talking long term value investing. We start with George’s investment philosophy and then walk through how he views the market today, seeing value in both financials and energy stocks. We talk

Bee2 Finance Buzzing to Bring DeFi to the Masses With Quadratic Mining

As another week in the world of DeFi commences, more new projects that aim to further decentralize and democratize the world of finance emerge. Today’s focus is on a project called Bee2 which wants to move DeFi away from the clutches of the whales, and into the hands of the masses. The current state of decentralized finance is highly stacked in favor of those with heavy collateral bags. Astronomical gas prices make smaller transactions on Ethereum virtually impossible. In the current state of things, many users end up losing money

Buffett dumps Wells Fargo amplifying bull case for gold and Bitcoin

Warren Buffett and Berkshire Hathaway substantially cut their position on Wells Fargo, selling 100 million shares. The Oracle of Omaha is continuing to trim his position in bank stocks, buoying the bull case for gold and Bitcoin (BTC).Berkshire reportedly held $32 billion in equity in Wells Fargo at one point, Fox Business reported on Sep. 5. The investment conglomerate now owns 3.3% in equity of the lender, worth just $3.36 billion.Why did Buffett cut Wells Fargo and how could it benefit Bitcoin?Throughout his career, Buffett emphasized the importance of value

What is YFII? A Guide to the Decentralized Mining Pool

YFII is a DeFi protocol that facilitates yield aggregation and uses a token halving model to ensure equitable distribution of tokens. It is a fork of YFI. Decentralized lending is the driving force behind decentralized finance (DeFi) projects. Those who provide liquidity to these projects earn interest through yield farming or liquidity mining. Some DeFi networks have their own token that increases rewards to yield farmers. Others like YFII have been forked from other protocols to prevent a reduction in pool liquidity through a scheduled halving model. In the Chinese

‘DeFi Is the Tesla of Crypto’ – Mike Novogratz

The decentralized finance (DeFi) space has hit the cryptocurrency market like a bull in a china shop. And Galaxy Digital CEO Mike Novogratz is having flashbacks of the 2017 ICO bubble, but that’s not all. Novogratz, a former Wall Street hedge fund manager, in an interview with BNN Bloomberg, drew parallels between DeFi projects and high-flying electric-vehicle maker Tesla, which worries him. That’s because TSLA shares have shot up several hundred percent this year so far and are trading at more than 1,000 times earnings. The gains are coming hand