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Meta, the company that owns Facebook, Instagram, and Whatsapp, has shared its fourth quarter results, reporting better numbers than expected. While the company beat revenue estimates, CEO Mark Zuckerberg declared 2023 a “Year of Efficiency,” hinting at a further restructuration of the company to focus on its AI (artificial intelligence)
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For the company as a whole, Meta reported adjusted quarterly earnings per share for the fourth quarter of $1.76, missing the analyst consensus estimate of $2.26, according to FactSet, while Meta's overall revenue of $32.2 billion beat estimates of $31.6 billion. It guided for Q1 revenue between $26 billion to
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An International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu Sugimoto, deputy division chief of the financial supervision and regulation division of the IMF,
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After more attention has been cast on the former Alameda Research CEO Caroline Ellison, a report details that Ellison has hired Wilmerhale partner Stephanie Avakian, an attorney that worked for the U.S. Securities and Exchange Commission (SEC). The news follows leaked documentation of Ellison’s alleged margin position, and the ex-Alameda
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Social media and tech giant Meta is reportedly gearing up for “large-scale layoffs” this week amid rising costs and a recent collapse of its share price.According to Wall Street Journal (WSJ) report on Nov. 6 citing people familiar with the matter, the planned layoffs could impact thousands of employees in
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Meta's revenues for the division came in at $285 million, down from $452 million in the second quarter. Source
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Societe Generale's crypto division SG Forge has won registration from France's Autorité des Marchés Financiers (AMF) for cryptocurrency custody and trading services. Source
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Law enforcement in Australia is working to boost cryptocurrency expertise and trace crypto transactions by setting up a dedicated police group.The Australian Federal Police (AFP) has established a new cryptocurrency unit to focus on monitoring crypto-related transactions, The Australian Financial Review reported on Monday.Stefan Jerga, the national manager of the
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Snap Inc's CEO Evan Speigel announced in a note on Friday that the company had made the difficult decision to reduce the size of its workforce by approximately 20%. The note said that this round of layoffs comes after the company experienced slow revenue growth, a slump in stock prices, and a
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Galaxy has been hiring aggressively, even as the crypto market slides in what’s being called a crypto winter. Bitcoin (BTC), the largest cryptocurrency by market cap, has lost about 60% of its value this year and the total crypto market cap is around $980 billion, down from about $1.9 trillion
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