The bearish price action of the past few days does not seem to have deterred the institutional traders from accumulating at lower levels. According to CoinShares’ Feb. 22 “Digital Asset Fund Flows Weekly” report, institutional investors pumped about $89 million into Bitcoin funds between Feb. 14 and Feb. 18, taking the total inflows in the current month to $178.3 million.Continue Reading on Coin Telegraph More
Early Wednesday, CertiK issued a community alert regarding Flurry Finance, where its smart contracts were allegedly breached by hackers, leading to $293,000 worth of funds being stolen. Shortly after the incident, CertiK published the wallet addresses of the alleged perpetrator, the address of the malicious token contract, and a PancakeSwap pair address allegedly involved in the attack, leading to a warning issued on BscScan. While the firm audited the project’s smart contracts, it appears that the exploit was the result of external dependencies.Continue Reading on Coin Telegraph More
Grossman stated that an important result of all of these initiatives is the “opportunity to tap into the great creativity emerging within the NFT community and connect this with the larger distribution channels we have already established via TIME Studios.”Continue Reading on Coin Telegraph More
Companies signed up for $8.3 billion in new loans, leases and lines of credit last month, compared with $8.1 billion a year earlier. Borrowings rose 2% from December.”Despite persistent supply chain disruptions in several collateral categories and nagging inflation, the equipment finance industry picks up in January where it left off last year,” said Ralph Petta, ELFA’s chief executive officer, in a statement.ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals totaled 78.4%, marginally down from 78.6% in December.The Washington-based body’s leasing and finance index measures the volume of commercial equipment financed in the United States.The index is based on a survey of 25 members, including Bank of America Corp (NYSE:BAC), CIT Group (NYSE:CIT) Inc and financing affiliates or units of Caterpillar Inc (NYSE:CAT), Dell Technologies (NYSE:DELL) Inc, Siemens AG (OTC:SIEGY), Canon Inc and Volvo AB (OTC:VLVLY).The Equipment Leasing & Finance Foundation, ELFA’s non-profit affiliate, said its confidence index for February was at 61.8%, down from 63.9% in January. A reading above 50 indicates a positive business outlook. More
Penned by CoinShares, an institutional crypto fund manager, the report highlighted that Avalanche-based investment vehicles attracted about $25 million in the week ending Feb. 21, the second-biggest inflow recorded in the said period after Bitcoin’s (BTC) $89 million. Continue Reading on Coin Telegraph More
LUNA’s price rallied nearly 18% this week to over $58, more than Bitcoin (BTC), whose returns in the same period came out to be a little over 1.5%. Similarly, the Terra token did better than its rival Ether (ETH), which is up around 4% this week.Continue Reading on Coin Telegraph More
Wrestling like peers with rising costs for raw materials, energy, labour and logistics, Pirelli trimmed the top of its operating profit margin outlook for 2022.”Pirelli will respond to a challenging 2022 by strengthening the levers already foreseen in the industrial plan,” it said.The group said it would take “an even more selective approach … in original equipment” and focus “on bigger rims sizes and specialties, particularly electric”.The manufacturer of tyres for Formula One and high-end carmakers such as BMW and Audi lifted its revenue outlook for 2022 to between around 5.6-5.7 billion euros ($6.34-$6.45 billion) from a previous range of between 5.1-5.3 billion.However, it said its adjusted operating profit margin would be between around 16% and 16.5%.That compares with between around 16% and 17%, previously.Pirelli forecast a net cash generation before dividends of between around 450 million and 480 million euros. Pirelli, which manufactures in Russia 10% of its global tyres output, said it had analysed the potential impact on local operations linked to import and export to and from Russia of raw materials and finished goods.”Assuming that the cost of oil and energy will remain at current levels from March 2022 to the end of the year … it is estimated that the guidance for profitability and cash generation will be positioned in the lower part of the range,” it said.That would entail an adjusted operating profit of around 890 million euros and cash generation before dividends of around 450 million euro, it said.Milan-based Pirelli runs the Kirov and Voronezh plants in Russia, with its business in the country accounting for about 3-4% of the overall turnover. The company posted a 2021 operating profit of 815.8 million euros, up 62.8% compared with 2020 and slightly higher than a company-provided analyst consensus of 807 million euros thanks to an improvement of price/mix and cost cuts.($1 = 0.8839 euros) More
MUFG officially announced Tuesday the suspension of Global Open Network (GO-Net) Japan, a blockchain-based project aiming at high scalability and multi-connectivity data processing “in response to the rise of the internet of things.” Continue Reading on Coin Telegraph More
