Vancouver, Kelowna, Delta, BC – July 18, 2022 (Investorideas.com Newswire) 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.
The Investor ideas Crypto Corner was named one of 14 Best Crypto & Blockchain Podcasts for Jun 2022: https://www.yoreoyster.com/blog/best-crypto-podcasts/
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Crypto Corner Podcast 866: Stocks discussed: (NasdaqGS: COIN) (TSX: WNDR) (NasdaqGS: META) (CSE: LUXX)
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Coinbase Secures Italian Regulatory Approval, WonderFi Partners with Meta VC Partnerships, and Luxxfolio Announces Launch of Immersion Mining
Stocks discussed: (NasdaqGS:COIN) (TSX:WNDR) (NasdaqGS:META) (CSE:LUXX)
Coinbase (NasdaqGS:COIN) has announced in a blog post that it has secured the Crypto Asset Service Provider approval from Italian regulators, allowing it “to provide ongoing crypto services to its residents.” The post indicates that the crypto exchange giant now serves customers “across almost 40 European countries,” and is “in the process of strengthening [its] presence across Europe.” Nana Murugesan, the company’s Vice President, International and Business Development, said:
“Building a constructive relationship with regulators in every jurisdiction in which we operate is incredibly important as we march toward our mission of increasing economic freedom in every corner of the world. Gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators. As we continue to grow across Europe and other regions, maintaining our strong regulatory relationships will ensure that we will continue to bring to market the products that our customers want, through the most trusted and secure platform in the cryptoeconomy.”
WonderFi Technologies Inc. (TSX:WNDR) has partnered with the Meta Venture Capital Partnerships team, a subsidiary of Meta Platforms, Inc. (NasdaqGS:META). This, according to the press release, will see the latter provide WonderFi with strategic advice on “growth marketing, performance and scale of WonderFi’s business, consultancy on creative strategies with other Meta departments and guidance on privacy-focused regulations.” Ben Samaroo, CEO of WonderFi, said:
“We are excited to work together with Meta as we continue to grow the WonderFi brands and offer crypto to consumers in a compliant and regulated manner. Meta will be a key partner in our growth strategies within Canada and internationally.”
Luxxfolio Holdings, Inc. (CSE:LUXX) has announced that it has “recently closed the sale of 100 Petahash, or approximately 970 cryptocurrency mining machines,” wherein “the Miners will continue to be hosted by LUXXFOLIO under a two-year immersion hosting agreement.” This move reduces the company’s debt by some $3.2 million USD, and allows it to continue to mine Bitcoin (BTC) on the overclocked Petahash of the Miners placed in immersion, bringing steady revenues via hosting fees. Kien Tran, the Luxxfolio’s COO, said:
“Our long-term outlook on bitcoin is bullish, and we believe our decisions provide us the best opportunity to participate in the Bitcoin mining industry and secure a slice of the world’s largest and most secure decentralized monetary network. We are deleveraging and locking in a mix of steady revenues while still maintaining exposure to mining.”
Sam Mowers, Investorideas
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