Reddit shares jump after-hours on OpenAI data-sharing deal

Reddit said the deal allows OpenAIs tools to better understand and showcase Reddit content with the AI firm back new features on the social platform.

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Frax Share Price Prediction As FXS Escapes From A Bearish Triangle

Frax Share price rose 15% in the last 24 hours to escape from a descending triangle as the crypto market flashed green on Thursday. FXS [...]

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Frax Price Bulls In Check, Signaling An Unstoppable FXS Rally To $15

Frax price bullish outlook carries on undeterred by the first general crypto market pullback. Investors applied brakes on their aggressive push from the beginning of [...]

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Frax Share Price Prediction: FXS Explodes 35% To $9 – is it Time to Buy This Crypto?

Frax Share, the first crypto native CPI platform, has sustained a winning streak for more than two weeks. In the last 24 hours, the ecosystem’s [...]

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Robinhood Shares Drop 20% After FTX Turmoil

<p class="MsoNormal">The share price of NASDAQ-listed zero-free trading app Robinhood (<a href="https://www.financemagnates.com/tag/robinhood/">ticker:HOOD</a>) fell 19% on Tuesday after information that Binance, one of the leading cryptocurrency exchanges, agreed to acquire FTX, a crypto platform owned by, a soon-to-be former billionaire, Sam Bankman-Fried.</p><p class="MsoNormal">The sharp price drop occurs amid concerns that the cryptocurrency mogul, who <a href="https://www.financemagnates.com/forex/brokers/ftx-ceo-sam-bankman-fried-buys-76-stake-in-robinhood/">bought</a> a 7.6% stake in Robinhood in May 2022, will have to sell at least some of it to solve his company's current crisis. This week, the <a href="https://www.financemagnates.com/terms/l/liquidity/" target="_blank" id="47c3bef3-27ee-4953-8504-159e1b829b33_1" class="terms__main-term">liquidity</a> of the <a href="https://www.financemagnates.com/tag/ftx/">FTX exchange</a> collapsed as investors rushed to withdraw their funds following worrying news about the financial balance sheet of Alameda Research, the other cryptocurrency firm owned by Bankman-Fried.</p><p class="MsoNormal">The FTX CEO currently holds 56,273,469 shares in HOOD. Tuesday's steep decline brought the price from $11.72 to $9.74, which is the lowest price it has been in more than two weeks. For the company, it was the steepest one-day decline since August 2021. The whole of 2022 has definitely not been a successful year for Robinhood as year-to-date (YTD) shares have lost 45%.</p><p class="MsoNormal">Robinhood debuted on the stock market in July 2021, selling for $38 per share and raising $2 billion from investors. The company rose for only a short while, reaching a record price of $85 a few days after the initial public offering (IPO), and has been in a clear downward trend ever since.</p><p class="MsoNormal">Losses and Workforce Cuts</p><p class="MsoNormal">The major US commission-free stock trading and investing app <a href="https://www.financemagnates.com/fintech/robinhood-lost-175m-in-q3-2022-crypto-revenue-declined/">reported</a> a quarterly net loss of $175 million last week. While the total net revenue increased by 14% to $361 million compared to the previous quarter, revenue in the cryptocurrency segment fell by 12% to $51 million.</p><p class="MsoNormal">Robinhood states, that the volatile market environment and risk aversion are the main reason for the continued slump and the lowering number of monthly active users (MAU). During the last quarter, the company's user base fell to 12.1 million from the previously reported 14 million.</p><p class="MsoNormal">Current industry turmoil has caused two rounds of layoffs; first, in <a href="https://www.financemagnates.com/forex/brokers/robinhood-to-lay-off-9-of-staff-as-stock-hits-all-time-low/">April 2022</a>, when Robinhood laid off 9% of its workforce and second, in <a href="https://www.financemagnates.com/cryptocurrency/robinhood-cuts-its-workforce-by-23-due-to-deterioration-of-the-macro-environment/">August 2022</a>, when an additional 23% of the staff was left unemployed.</p> This article was written by Damian Chmiel at www.financemagnates.com.

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Frax Share Price Up 22%, Over 84% Of the Circulating Supply Gets Locked Up

Frax Share price is up 22.1% today, making it the biggest gainer on Crypto.com. With a market cap of over $353M and rising, let’s take a closer look at Frax and see why the FXS price is up over 59% this week. What Is Frax Share? Frax is a protocol for the first fractional-algorithmic stablecoin. […]

The post Frax Share Price Up 22%, Over 84% Of the Circulating Supply Gets Locked Up appeared first on NullTX.

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Tesla’s diamond hands: EV maker's Bitcoin holdings see no change in Q2

After purchasing $1.5 billion worth of Bitcoin in 2021, Tesla sold 75% of it in 2022 and is now hanging onto its remaining $184 million Bitcoin stash.

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Bitcoin miner Riot Platforms trims Q2 loss to $27.7M

Colorado-based Bitcoin mining firm Riot Platforms narrowed its second quarter net loss to $27.7 million as it ramped up its Bitcoin production and reached record hash rate capacity. The crypto miner posted total revenue of $76.7 million — up 5.2% from Q2 2022 — which was primarily driven by a 27% year-on-year increase in Bitcoin [...]

The post Bitcoin miner Riot Platforms trims Q2 loss to $27.7M appeared first on Crypto Breaking News.

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Cathie Wood’s ARK loads up crypto bags, buys $19.9M Block shares

Just days after buying $21 million of Coinbase shares, ARK Invest CEO Cathie Wood has added another $19.9 million in Block Inc. shares across its ETFs.

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