News list for " a technology company"
Canaan Technologies, Inc. today announced its unaudited financial results for the three months ended June 30, 2024. Revenue for the second quarter of 2024 was $71.9 million, exceeding the previous estimate of $70 million and up 104.8% from the previous quarter. Total hashrate sold was 6.2 million Thash/s, up 83.9% from the previous quarter. Operating loss was $46.6 million, down 60.9% from the same period last year and 31.5% from the previous quarter. As of June 30, 2024, the company's cryptocur...
The Central Bank of Nigeria (CBN) has instructed four fintech companies to stop opening new accounts, citing the potential for cryptocurrency traders to use them. The directive affects Moniepoint, Palmpay, Opay, and Kuda. The CBN issued the directive shortly after Nigeria's anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), froze more than 1,140 bank accounts suspected of being linked to illegal foreign transactions, a report by Techcabal said. The newspaper...
Bernstein stated in his research report that the stablecoin market is growing, and these cryptocurrencies are being used by early users such as payment companies, fintech companies, and consumer platforms for cross-border settlement. The supply of stablecoins currently reaches $150 billion, with USDT and USDC occupying a dominant market share of 75% and 22%, respectively. Stablecoin is a cryptocurrency typically pegged to the US dollar, but also uses other currencies and assets such as gold. The...
