Morning All, we can finally say good buy and good riddance to January.
🏆And the Winner for biggest daily losses EVER
Congrats to Facebook for setting the record for the largest-ever one day loss for a company in stock market history… yikess. 😬The company’s earnings are to blame as Meta reported weak guidance for the coming quarter and a decrease in daily active users for the first time ever. Meta missed on earnings, posting EPS of $3.67 (analysts anticipated $3.84),
Meta claims Apple’s privacy changes related to targeted advertising and measurement knocked $10 billion off the company’s yearly revenue; inflation and supply chain issues were also cited as revenue barriers.
💰Who’s using the Metaverse?
Poker players are big in Decentraland. Decentral Games’ casino has made $7.5 million in revenue over the past three months with daily-user counts topping 5,000.For as much press as “Web 3” is garnering, it’s important to remember the numbers are still small. The number of wallets (the pseudonymous, but not exactly precise, measure of actual humans interacting with Ethereum-based smart contracts) touching OpenSea on a daily basis is just 50,000, according to DappRadar. The non-fungible token (NFT) marketplace was recently valued at $13.3 billion in a recent funding round.
🐍 Wormhole Exploit
After one of the most devastating exploits in crypto history, the parent company for a popular cross-blockchain bridge has reportedly stepped in to backstop funds – a move that may have prevented widespread damage in the Solana decentralized finance (DeFi) ecosystem. On Wednesday night, the Wormhole bridge suffered an exploit to its Solana-Ethereum bridge, with an attacker fraudulently minting 120,000 ether (ETH) worth over $320 million.
🐇 Done with the Rabbit Hole
Wonderland DeFi protocol has announced it is shutting down after it emerged that a convict was serving as its treasury manager. Twitter users unmasked 0xSifu as Michael Patryn. He had previously pleaded guilty to charges of credit card fraud, burglary, grand larceny and computer fraud — spending 18 months in U.S. federal prison. Wonderland's co-founder Daniele Sestagalli had previously explained that he knew of Patryn's past — but had believed in giving people second chances. Patryn was subsequently asked to step down from the treasury position after the project faced a storm of controversy from its community.
Who invested in Wonderland ? Thank god I stayed cleared of that crazy APY of 40 000%
💪 Beefy Gains from Amazon
Amazon surprised investors by nearly doubling its net income YoY. That’s because the company rolled a “pre-tax valuation gain of $11.8 billion“ from its investment in Rivian, which IPOed in November 2021.
Here are the significant figures:
Earnings per share: $27.75 adjusted, +96% YoY (analysts expected $3.77)
Revenue: $137.4 billion, +9% YoY (analysts expected $137.82 billion)
Future (Q1) Guidance: $112 billion – $117 billion (analysts expected $120 billion)
😲Snap crackle Pop!
Snap soared 58% in extended trading after recording its first profitable quarter ever. $SNAP also exceeded earnings and sales estimates. Daily active users grew by 20%.
🍎The Crypto Apple
New York is the crypto capital of the US. In 2021, NY-based startups raised $6.5B, or 46% of US blockchain funding, led by massive Q4 rounds from NYDIG ($1B) and Celsius Network ($750M). Silicon Valley came in second with $3.9B in blockchain funding. Los Angeles and Miami tied for third, each seeing just over $760M in 2021.
💻No more shortages please
Semiconductor tech funding hit $16.5B in 2021 across a record 852 deals. Does this mean the supply constraints are done? im guessing not, as the modern car today can easily have more than 3,000 chips
DID YOU KNOW
Superyacht sales have gone crazy, 2021 saw 77% more superyacht sales than in 2020. Boosted by surging stock markets, and desiring socially distanced forms of recreation, the ultrarich put in a surge of orders last year.
LINKS THAT DONT SUCK
🧻 Toilet Paper-Themed NFTs Wipe $7M in Medical Debt, People Mad Anyway
👽 Star Wars Has a Luke Skywalker Problem
😅 Neopets Pitched a Metaverse Pivot
Cheers all and here’s to a great weekend. 🥂