The return of Keith Gill, also known as TheRoaringKitty, has caused a stir around GameStop ($GME) and led to a sharp rise in the price of the eponymous cryptocurrency. The price of the GameStop (GME) coin rose by an impressive 2000% over the past seven days, reaching an all-time high. Although it later fell by 40%, interest in GME remains high and experts are predicting its price to rise further.

GameStop, which began as a movement of ordinary people challenging the big Wall Street firms, has become a phenomenon that has captured the attention of the world. Keith Gill, who became famous for his analysis of GameStop on Reddit in 2019, recently returned to social media, causing excitement among traders and #cryptocurrency enthusiasts. His predictions caused excitement in the market, and as a result, the value of the #GME token #rose strongly and then fell, resulting in significant gains for investors.
Gill himself states that his initial investment of $53,000 in GameStop has grown to nearly $50 million. These impressive returns are a testament to the power of online communities and their ability to influence financial markets. The GME #meme coin, created on the #Solana blockchain, is a reflection of this movement. It focuses on connecting people and decentralization, giving power to its users and challenging the traditional financial system.
The rise in popularity of meme coins such as Floki and Pepe is also contributing to the hype around GME. Investors and traders looking for quick profits and compelling stories are turning their attention to these internet meme-based cryptocurrencies with an active online community. GME, with its unique history and strong community, fits perfectly into this trend.
The GME coin currently has a trading price of $0.008324 and a market value of $56,068,114, which puts it in the 532nd position in the cryptocurrency rankings. However, given the volatility of the market and the ongoing hype surrounding GameStop, many expect the price of GME to continue to rise. The GameStop story of ordinary people challenging Wall Street continues to inspire people around the world, and the return of Keith Gill further fuels that enthusiasm.
Read us at: Compass Investments

Over the past week, it has come to light that a slew of professional investment firms and major banking institutions have invested heavily in bitcoin-ETFs, as disclosed in their latest 13F reports filed with the U.S. Securities and Exchange Commission (SEC). According to the May 9 filing, more than 600 professional investment firms reported ownership of bitcoin-ETFs totaling $3.5 billion. That number is expected to reach 700 companies with a total investment of $5 billion by the May 15 reporting deadline.

Among the big names that have disclosed their bitcoin-ETF investments are giants such as Morgan Stanley, JPMorgan, Wells Fargo, UBS, BNP Paribas and Royale Bank of Canada. Also on the investor list are large hedge funds such as Millennium Management and Schonfeld Strategic Advisors.
Millennium Management, a hedge fund with $1.9 billion in assets under management, is the largest investor in the #BTC #ETF . The fund has spread its investments among various #bitcoin ETFs, including IBIT from #BlackRock , FBTC from Fidelity, GBTC from Grayscale, ARKB from Ark and BITB from Bitwise. Their investments range from $44.7 million to $844.2 million per fund.
Schonfeld Strategic Advisors, a hedge fund with $13 billion in assets under management, has also made significant investments in BTC ETFs. They invested $479 million, spreading it between IBIT and FBTC.
Other fund managers such as Boothbay Fund Management and Pine Ridge Advisers have also announced significant investments in spot bitcoin ETFs. Boothbay Fund Management has invested $377 million and Pine Ridge Advisers has invested $205.8 million in various bitcoin funds.
Morgan Stanley, a well-known investment bank, showed an investment of $269.9 million exclusively in Grayscale's GBTC, making it one of the largest holders of this fund. Aristeia Capital Llc, an alternative asset management company, has also made a substantial investment of $163.4 million in IBIT.
These disclosures show the growing popularity of bitcoin-ETFs among professional investors and major financial institutions. The interest in exchange traded #cryptocurrency funds underscores bitcoin's potential role as an asset in professional investors' portfolios.

Read us at: Compass Investments

"Wall Street Pepe (WSP) Price Analysis: Is this meme coin worth investing in?

The return of Roaring Kitty has caused a furor in the #cryptocurrency market, and Wall Street #Pepe (WSP) has been in the spotlight. The price of WSP skyrocketed, but the dramatic collapse that followed makes investors wonder if this #meme coin is a solid investment or just another carpetbagger.
In this article, we will analyze the current WSP price situation and evaluate the prospects of this innovative meme coin against other Dogeverse #cryptocurrencies .
The rise in popularity of Wall Street Pepe was driven by the hype surrounding the return of Roaring Kitty, as well as the activity of the community, which enthusiastically created and spread memes about Pepe inspired by the movie "The Wolf of Wall Street". The price of WSP jumped sharply, but this rise was short-lived.
Analyzing the price of WSP: a dramatic fall
Recently, the price of Wall Street Pepe has been experiencing a dramatic drop. At the time of writing, the price of WSP is $0.00001315, which represents a 98.85% decline in the last 24 hours. This dramatic drop comes after the WSP price rose more than 14,400% to peak at $0.01875. However, efforts by holders to maintain the price above the $0.01255 support level proved futile and the ensuing reset resulted in a 98.5% drop in the price.
Now with a market capitalization of only $13,000, many believe that this meme coin is exhausted and will join the list of countless GME-related cryptocurrencies that have been manipulated and abandoned since the return of Roaring Kitty.
\nProblems with unscrupulous blockchain developers
However, WSP is not unique in this regard. Traders in the cryptocurrency market often face the problem of unscrupulous developers running quick scams in DEX markets.

However, there are exceptions.
Meme coin presales: an opportunity for investors

Read us at: Compass Investments
#TrendingTopic

Chris Giancarlo, a former CFTC commissioner, claims that former President Donald Trump has earned the title of "America's First Cryptocurrency President" already in the first year of his presidency in 2017. According to Giancarlo, the moniker came about due to the Trump administration's decision to approve the introduction of bitcoin futures contracts.

Speaking at a #cryptocurrency policy event in Washington, D. C. , on Wednesday, Giancarlo emphasized Trump's longstanding connection to the crypto industry, which he said not everyone is aware of. His comments came after Trump's recent announcement that he would end hostility toward #cryptocurrencies if re-elected.
Giancarlo noted that Trump has not only announced that he now understands cryptocurrencies, but he can justifiably call himself "America's first crypto president. " This is because in 2017, during Trump's presidency, regulated #bitcoin futures trading was launched. Giancarlo explained that the success of this regulated futures market helped ensure that bitcoin, the world's first digital currency, was valued in U. S. dollars.
The Chicago Mercantile Exchange (CME) launched bitcoin futures trading in 2017, joining the CBOE among the first exchanges to offer this new financial instrument. The presidency of Trump, the 45th president of the United States, began on January 20, 2017 and ended on January 20, 2021.
Giancarlo recalled that in 2017, cryptocurrency was not yet a politicized issue. At the time, he, along with other CFTC commissioners, unanimously supported regulatory innovation. But now, seven years later, cryptocurrency is becoming increasingly politicized, especially in the context of the upcoming presidential election.
\nInterestingly, prior to becoming an advocate for cryptocurrencies, Trump was a critic of them. In July 2019, he called cryptocurrencies "not money" and criticized their volatility and lack of intrinsic value. He has also expressed concern about their potential use in criminal activities such as drug trafficking.
The current Biden administration's attitude toward cryptocurrencies is causing mixed feelings among industry members.

Read us at: Compass Investments
#GlobalCrypto #CryptoUpdates

Democrat Nickel has criticized the US Securities and Exchange Commission (SEC) and its chairman Gary Gensler for their approach to regulating cryptocurrencies, believing the regulator is turning the issue into a "political soccer." In his May 15 letter, Nickel raised concerns about the proposed SAB 121 rule, which he believes is contrary to the SEC's mission to protect investors and beyond its authority.

SAB 121, or Staff Accounting Bulletin 121, would require SEC-reporting companies that hold #cryptocurrencies to record those assets as liabilities on their balance sheets. According to Nickel, this would result in U. S. banks being unable to store cryptocurrencies on a large scale, which in turn would create "concentration risk" by transferring more control to non-banks. He believes that such "open hostility" by the SEC towards the #cryptocurrency industry is against the interests of President #Joe Biden and forces him to take sides on an issue that is important to many Americans.
The North Carolina representative also expressed confidence that the Senate will pass a resolution invalidating the SEC's proposed rule. He hopes that this bipartisan resolution, supported by both chambers, will send a clear message to the SEC to adjust its approach to regulating #digital assets.
Last week, the House of Representatives already voted to pass a bill repealing SAB 121. Now the floor is up to Biden, who has previously stated his intention to veto the bill.
Nickel and many Republicans, including U. S. Representative Tom Emmer, are concerned that SAB 121 could lead to negative consequences for U. S. investors and markets. They believe the rule will make markets "less fair, less orderly and less efficient" and could lead investors to seek offshore custody solutions that may be riskier in the long run.
The SEC's mission, as defined by its statute, is to protect investors, promote capital formation and maintain fair, orderly and efficient markets. However, according to Nickel and his supporters, the SEC's approach to regulating cryptocurrencies runs counter to these goals and needs to be adjusted.
Read us at: Compass Investments
#CryptoUpdates

NewsBTC -- is a cryptocurrency news portal covering the latest news, analysis and predictions related to bitcoin and other cryptocurrencies. NewsBTC aims to educate its audience about the world of cryptocurrencies by providing breaking news, technical analysis, and bitcoin and altcoin price forecasts. The portal publishes articles on the latest developments in the world of cryptocurrencies, market overviews, expert opinions and forecasts to help readers stay abreast of trends and make informed decisions in this rapidly evolving field.

Read us at: Compass Investments

Bitcoin (BTC) posted strong gains on Wednesday, May 12, rising to the $66,400 mark. This followed the release of April's U.S. Consumer Price Index (CPI) data, which pointed to easing inflationary pressures.

According to the U. S. Bureau of Labor Statistics, the annual CPI in April amounted to 3.4%, which is slightly lower than the March figure of 3.5%. The core CPI, which excludes the volatile food and energy categories, showed a similar trend: it fell from 3.8% to 3.6%. Both indicators were in line with market forecasts, showing a monthly growth of 0.3%.
This data was a positive signal for the market, as previous CPI reports had pointed to more persistent inflation, which could have delayed the Federal Reserve's interest rate cut. Amid weakening inflation, investors now expect there is a 75% chance of a rate cut in September, according to the CME FedWatch Tool.
The published inflation data had a direct impact on bitcoin's momentum. The #cryptocurrency broke the $63,000 mark and continued its rally, trading at $65,900 at the time of writing, representing a rise of nearly 7% in the last 24 hours, according to CoinGecko data.
Bitcoin's rise has also had a positive impact on the overall cryptocurrency market, which rose nearly 6% to $2.5 trillion. Major #altcoins including #ETFvsBTC (ETH) and Solana (SOL) performed well: #ETFvsBTC crossed the $3,000 mark, up 4%, while SOL climbed above $150, posting an 8% gain.
Technical analyst Rekt Capital noted in a recent post that #bitcoin may have exited the "danger zone" after the halving - the period that follows a bitcoin halving event. The analyst suggests that bitcoin is currently in an accumulation phase. In addition, if historical patterns continue, the next bitcoin bull market peak could occur between mid-September and mid-October 2025.
Thus, recent market developments, including the easing of inflationary pressures and the positive performance of bitcoin and altcoins, point to a potential recovery in the cryptocurrency market and increase optimism among investors.
Read us at: Compass Investments

Mastercard and Standard Chartered Bank Hong Kong (SCBHK) have successfully completed the first live testing of Mastercard's Multi-Token Network (MTN) as part of the Hong Kong Monetary Authority's (HKMA) Fintech Supervisory Sandbox program. The purpose of the pilot was to demonstrate "the ability for consumers and businesses to connect, interact and transact" using tokenized assets and currency.

The concept was tested in a real-world situation where a customer of SCBHK's virtual bank, Mox Bank, expressed a desire to purchase a #carbon credit using their deposited funds. Mox approached SCBHK to tokenize the carbon credit through Libeara, a #tokenization platform created by SC Ventures, the venture capital arm of Standard Chartered.
Tokenization of real-world assets and the use of various forms of tokenized currency are key aspects of the future development of the financial industry, according to Mary Hewen, CEO of Standard Chartered Hong Kong. Mastercard's MTN enables the tokenization of various assets and currencies, providing a secure and efficient real-time exchange between different blockchains.
Mastercard has previously conducted successful MTN trials with the Reserve Bank of Australia and the HKMA using central bank digital currency (CBDC). While none of these CBDCs are currently operational, the trials demonstrated the potential for MTN to support various forms of digital currencies and assets.
The HKMA is committed to making Hong Kong a leading hub for #digital assets and is reportedly pressuring local banks, including SCBHK, to improve their services for #cryptocurrency exchanges and digital asset companies. SCBHK is actively involved in various HKMA initiatives such as Project Ensemble, the e-HKD pilot program and the international mBridge project, which shows its commitment to fostering innovation in digital finance.
The successful testing of Mastercard's MTN in collaboration with SCBHK demonstrates the potential of tokenization technology in transforming the way consumers and businesses interact. It also underscores Hong Kong's commitment to driving innovation in digital assets and reinforces its position as a leading financial technology hub in the region.
Read us at: Compass Investments
#BlockchainFuture

Shiba Inu, one of the most famous meme coins in the crypto community, has once again attracted the attention of investors. In May, the coin's value skyrocketed by 4000%, raising optimistic expectations for its continued growth towards a price of $0.001 per SHIB.

Despite the downward trend in price over the past month, #SHIB has shown resilience to the bear market. The coin has undergone several updates that have improved its cryptographic capabilities and set it up for future growth.
In recent days, there has been a significant increase in the SHIB coin's burn rate, leading to increased optimism among investors. According to the Shibburn burn tracker, the burn ratio has increased by 4085.94% in the last 24 hours. As a result, more than 182 million SHIB tokens were burned, marking a milestone in SHIB's deflationary strategy.
The SHIB #token burning process aims to reduce the total supply of coins in circulation, which could ultimately lead to an increase in their value. As of today, the total number of SHIB tokens burned is 410,726,404,777,297, while there are about 589,273,595,222,702 tokens remaining in circulation.
The drop in the market value of #Shiba Inu in the past is attributed to the high supply of coins in the market. However, the Shiba Inu community is actively working to reduce this supply through the token burn mechanism.
The increase in the burn rate has led to optimism about the future price movement of Shiba Inu. A reduction in the supply of SHIB tokens could lead to an increase in demand and, consequently, an increase in the token price in accordance with the fundamental economic principles of supply and demand.
The increase in SHIB coin burn is indicative of positive trading dynamics, as evidenced by recent developments in the project. Shitoshi Kusama, the founder and leader of the development team, plans to introduce innovative utilities aimed at increasing demand for the token and achieving the project's long-term goals.

Read us at: Compass Investments
#FinTechInnovations #MarketInsights

Pine Ridge Advisers, a company that offers discretionary investment advice to retail investors, demonstrated a diversified approach to allocating to different funds. The largest share of investments went to FBTC from Fidelity Wise, which raised $93.38 million. This was followed by BlackRock's IBIT with an investment of $83.17 million and Bitwise's BITB, which attracted $29.26 million.

Pine Ridge Advisers provides customized discretionary investment advisory services through separately managed accounts (SMAs), requiring a minimum account size of $50 million in assets under management. This allows retail investors access to the firm's investment management expertise as well as a wide range of value-added services, including financial counseling, portfolio reporting, due diligence and family office services. Pine Ridge Advisers' comprehensive approach to investment management and diverse selection of investment funds demonstrates their commitment to meeting the needs of their clients and ensuring the long-term growth of their assets.
Pine Ridge Advisers, with its diversified strategy and customized approach to investment management, offers retail investors with substantial assets the opportunity to benefit from the firm's expertise and access to a variety of investment opportunities. Their separate managed accounts approach provides flexibility and individualization in investment management, which can be attractive to investors seeking to maximize returns and diversify their portfolio.
Read us at: Compass Investments

According to the latest report from the U.S. Department of Labor's Bureau of Labor Statistics, the Consumer Price Index (CPI) rose 0.3% in April from the previous month. The figure was just below Dow Jones' forecasts, which suggested a 0.4% increase. Annualized CPI growth was 3.4%, which is in line with analysts' expectations and indicates the persistence of inflationary pressures, albeit with a slight tendency to weaken.

Core inflation, which excludes volatile categories such as food and energy, also #rose 0.3% month-on-month and 3.6% year-on-year. The rate is the lowest since April 2021 and offers some hope to consumers facing rising prices for goods and services.
Financial markets reacted positively to the inflation data. Stock futures indexes rose, while Treasury bond yields fell. Futures traders believe it is more likely that the Federal Reserve will begin cutting interest rates in September, although some economists urge not to overemphasize the significance of the data. They note that while the report did not show a significant rise in inflation, it also did not indicate a sharp decline.
At the time of writing, the main US stock indices are showing positive dynamics. The Dow Jones Industrial Average is up 0.4%, the S&P 500 Index is up 0.53%, and the Nasdaq Composite Index is up 0.52%. Investors reacted optimistically to the inflation news, which led #the stock market to rise.
However, some experts warn against getting too excited. While the rate of inflation has slowed somewhat, it is still high on an annualized basis. This means that the prices of goods and services continue to rise and consumers' purchasing power is diminishing. In addition, the Federal Reserve may begin to cut interest rates, but this could lead to other economic consequences, including the risk of bubbles in asset markets.
Overall, the latest consumer price report brought mixed feelings. On the one hand, inflation has eased slightly, giving markets and consumers pause. On the other hand, it remains high on a year-over-year basis, and one month of declines does not mean the trend has changed. Federal Reserve policy will continue to be key to the economy and financial markets in the months ahead.
Read us at: Compass Investments
#CryptoMarketTrends #CryptoAdoption #CryptoTrends

The cryptocurrency market is experiencing a period of rapid growth and development: more than one million new tokens were issued in 30 days. This impressive statistic shows the growing popularity and interest in digital assets.

The growth was especially noticeable on the #ETFvsBTC (ETH) platform, where 372,642 new tokens have appeared since April 1. Interestingly, the majority of these (88%) were issued on Coinbase's second-tier #blockchain , Base. At the same time, the #Solana (SOL) blockchain also experienced a significant influx of new tokens, which was largely due to the popularity of memcoins.
Such unprecedented activity in the #cryptocurrency market indicates its dynamic development and ever-growing interest from investors and developers. The cryptocurrency market is becoming more diverse and multifaceted, offering more and more opportunities for those who want to invest in #digital assets or use them in their projects. This explosive growth emphasizes the potential of the cryptocurrency industry and points to its ever-increasing role in the global economy. Investors and enthusiasts around the world are following the developments, waiting for new opportunities and trends in this dynamic market.
Read us at: Compass Investments

In recent weeks, there has been a decline in activity in the stable coins market, indicating that market participants are cautious and reluctant to actively invest in cryptoassets. The dominance graph confirms this trend, reflecting the lack of enthusiasm among investors.

Bitcoin, the leading #cryptocurrency , has recently been under pressure from bears on the lower timeframes. After a sharp drop and subsequent rebound, a consolidation period in the summer is possible, which means there is no clear direction in the market. This uncertainty extends to the altcoin market, where bearish dynamics have prevailed in recent months.
Experts from AMBCrypto analyzed the behavior of stablecoins to understand the mood of market participants and assess their willingness to take risks. The analysis of CryptoQuant data shows a decrease in the activity of stablecoin-related addresses since mid-April. The 7-day moving average of active addresses has a downward trend, indicating a decrease in interaction and buying and selling activity.
Moreover, the dynamics of the exchange-traded stablecoin reserve indicates a decline in the purchasing power of stablecoin holders. The reserve consolidated in a range from late April through mid-May, indicating investors' reluctance to spend their stable coins to buy cryptoassets. However, on May 13, a sharp inflow of stablecoins was seen, which could indicate a potential shift in sentiment in favor of a bull market.
Analysis of #Tether (USDT) dominance shows that market participants prefer to keep their funds in stable coins, avoiding risk. The upward trend in this metric indicates investors' caution and their reluctance to actively invest in more volatile crypto assets.
Thus, in general, the behavior of the stable coin market indicates participants' caution and lack of bullish sentiment. The decline in address activity and purchasing power of stablecoin holders indicates a reluctance to take risks. However, a sharp inflow of stablecoins on May 13 may be a harbinger of a change in trend and growth of the cryptocurrency market in the coming days.
Read us at: Compass Investments
#CryptoNews #CryptoMarketTrends #CryptoUpdates

Robinhood, the European branch of the cryptocurrency trading company, has announced the launch of Solana staking for its customers in the European Union. Robinhood Crypto's general manager, Johann Kerbrat, said that customers can now earn an annual percentage yield (APY) of around 5% at launch. Actual returns may vary over time as staking fees change. While Robinhood Crypto's proposed 5% APY yield is slightly lower than competitors such as Coinbase, which offers a 5.42% APY for Solana stakers, the decision to launch Solana as the first steaking product was made given the popularity of the SOL token among European users.
Robinhood notes that Solana's steaking process is simpler than #ETFvsBTC and has a shorter pegging period to generate revenue from new assets. Unlike Ethereum, where the pegging period can range from several days to several weeks, in #Solana it is only two days. This makes staking more attractive for users who want to generate income from their crypto assets quickly. In addition, #Robinhood representatives said that they are considering adding steaking for other cryptoassets in the future.
The European Robinhood Crypto app, which launched in December, is already popular among users in Poland, Italy and Lithuania. It offers a wider range of cryptoassets compared to the U. S. app, including 33 tokens and memcoins such as BONK and DogWifHat. Robinhood's U. S. division removed Solana and some other cryptocurrencies from its list last year after the U. S. Securities and Exchange Commission (SEC) filed lawsuits against crypto exchanges #Coinbase and #Binance , alleging they were trading unregistered securities.
The launch of Solana Steaking demonstrates Robinhood's commitment to expanding its crypto services and providing users with new opportunities to generate income from their assets. Given the popularity of cryptocurrencies and the growing interest in steaking as a way to make passive income, this move could attract new users to the Robinhood Crypto platform and strengthen its position in the European cryptocurrency market. Time will tell how the competition between crypto platforms will develop and whether they will be able to offer even more attractive conditions for steaking in the future.
Read us at: Compass Investments

On Tuesday evening, Vanguard confirmed a report by The Wall Street Journal that a new CEO had been appointed. In a press release, Salim Ramji said he will work closely with management to "lead the company into the future."

Ramji said the investor landscape is changing, and this gives Vanguard an opportunity to reaffirm its mission to give people the best chance for investment success. "My goal is to mobilize Vanguard's capacity to meet the challenges of the times while staying true to our core purpose of being a trusted advocate for all investors," he emphasized.
Nate Geraci, president of #ETF Store, expressed interest in whether Ramji would try, as he did at #BlackRock , to give Vanguard investors access to #cryptocurrencies .
Ramji's selection came as a surprise to many, given the conflicting views on #bitcoin at Vanguard and Ramji's own known enthusiasm for the crypto industry. The appointment sparked lively discussions on social media about a possible change in Vanguard's stance on cryptocurrencies.
In a July 2023 interview with Bloomberg TV, Ramji expressed his admiration for the technology behind bitcoin and blockchain: "We're incredibly excited about this technology because it removes friction across the ecosystem, or at least promises to do so. For us, it's a really powerful framework that piques our interest.
Some were surprised that Vanguard picked an outside CEO for the first time in its history. This indicates that the company may be willing to make significant changes to its business model and strategy.
Read us at: Compass Investments
#transscreen.ru

On May 13, Ripple, the largest holder of XRP, sold 150 million tokens from reserves sold out this month. The sale amounted to $75 million, equivalent to 0.25% of XRP's $28 billion capital at a token price of $0.50.

On May 1, the company released 1 billion #XRP from the initial reserve and locked it in monthly reserves until 2027. #Ripple then transferred 200 million XRP to its treasury account and locked the remaining 800 million XRP in a new escrow.
Read us at: Compass Investments
#news #GlobalCrypto #MarketInsights

Gill's videos and live tweets, in which he often urges investors to examine their finances and profit accordingly, were referenced in his testimony to Congress, where he simply said: "I like stocks."

The influential tweeter returned on Monday and has since posted 12 tweets, all videos, all suggestive memes.
Part of Mr. Gill's testimony was that Gamestop was maintaining the value of its physical stores. According to a website that tracks Gamestop store closings, more than 200 stores have since closed.
Read us at: Compass Investments

Alibaba Group Holding Limited (NYSE: BABA), a leading e-commerce and technology conglomerate, announced financial results for the quarter ended March 31, 2024.

The company posted moderate growth, with sales up 7% year-on-year to RMB221.874 billion (US$30.729 billion). The growth was driven by the company's China and international trade business, which saw double-digit year-on-year GMV growth, as well as accelerated growth in cloud computing revenues related to artificial intelligence products.
Despite the increase in revenue, Alibaba's operating profit fell 3% year-on-year to 14.765 billion yuan ($2.045 billion). Alibaba attributed the drop to increased investment in its e-commerce business and incentives to retain employees at Cainao. Adjusted EBITA also fell 5% to 23.969 billion yuan ($3.32 billion).
Net income attributable to shareholders amounted to ¥3.27 billion (US$453 million), down significantly from the previous year, mainly due to net losses on investments in listed companies.
Alibaba's results for fiscal 2024 were mixed compared to market expectations. Analysts expected earnings per share (EPS) of ¥10.27 and sales of ¥220.32 billion. Actual sales of ¥221.874 billion were slightly higher than expectations, demonstrating the company's ability to sustain growth in a fiercely competitive market. However, non-GAAP diluted earnings per share of ¥10.14 ($1.40) came in below expectations.
This divergence in earnings was mainly due to the company's increased investments and significant net losses on equity investments, which impacted the bottom line.
Reflecting the volatility in Alibaba's investment portfolio, quarterly net income fell 96% year-on-year to RMB 919 million (US$127 million). This sharp drop masked revenue growth, and investors are concerned about the sustainability of the company's short-term profitability.
Join the Telegram group to stay up to date with the latest news.

Read us at: Compass Investments

Bitcoin contributed $144 million and Solana contributed $5.9 million.

Ethereum has witnessed an outflow of money from its products due to its struggle with regulatory uncertainty.
According to a recent report from Coinshares, #bitcoin [BTC] related investment products have finally broken the five-week outflow, generating a weekly inflow of $144 million.
The digital asset manager publishes weekly details on #cryptocurrency investments. The past five weeks have all ended with large outflows despite a strong start to the year.
However, last week they managed to attract inflows totaling $130 million. The authors of the report attribute this growth to the growing interest in cryptocurrencies in Hong Kong.
U. S. ETFs also experienced a small outflow. However, bitcoin wasn't the only cryptocurrency to record gains.
#Solana [SOL] also recorded inflows of $5.9 million, according to Coinshares data, and ETP volumes were up but down from the average weekly volume in April.
ETP stands for Exchange Traded Products. The average volume in April was $17 billion. However, last week's figures fell short of that level to $8 billion.
This drop in performance indicates a decline in interest in cryptocurrencies,
These volumes are indicative of the declining participation of ETP investors in the cryptocurrency ecosystem, accounting for 22% of total trading volume on trusted exchanges worldwide, down from 31% last month.
At the time of publication, the price of bitcoin stood at $62,579. It has risen 2.72% in the last 24 hours. Meanwhile, the price of Solana stands at $148.22, up 7.44% over the same period.
Given these price dynamics, investing in bitcoin and Solana-related instruments can be considered a smart choice.
In addition, the market seems to have become more confident about #BTC and SOL. This can be seen in the state of their weighted sentiment.

In the case of SOL, this indicator was -0.429.

Read us at: Compass Investments
#DigitalCurrency

CoinGate, a well-known cryptocurrency payment processor, has announced the integration of Solana (SOL) network into its payment gateway.

Starting today, May 14, merchants can accept #Solana (SOL) as a payment currency through the CoinGate platform.
Read us at: Compass Investments
#CryptoTrends #Crypto2024 #CompassInvestments #TokenEconomy