Vancouver, Kelowna, Delta, BC – June 27, 2022 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.
The Investor ideas Crypto Corner was named one of 14 Best Crypto & Blockchain Podcasts for Jun 2022: https://www.yoreoyster.com/blog/best-crypto-podcasts/
Listen to today’s Crypto Corner Podcast:
Crypto Corner Podcast 859: Stocks discussed: (NasdaqGS: CORZ) (TSXV: BNXA)
June 27, 2022
Get the Crypto Corner Podcast on iTunes
Get the Crypto corner on Spotify
Named one of 14 Best Crypto & Blockchain Podcasts (Jun 2022)
Stocks discussed: (NasdaqGS:CORZ) (TSXV:BNXA)
Blockchain data center and digital asset miner provider Core Scientific, Inc. (NasdaqGS:CORZ) has announced that it is “set to join the Russell 3000 Index at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the US market opens today.” The company’s CEO, Mike Levitt, said:
“Inclusion in the Russell 3000 index less than six months after we became a public company represents an important acknowledgement of Core Scientific’s business fundamentals and strong position as a blockchain data center leader. We look forward to continued engagement with the investment community as we execute our growth plans to create shareholder value.”
Banxa Holdings, Inc. (TSXV:BNXA) has announced a cost cutting plan in response to the global markets’ downturn to ensure “a stronger roadmap,” for its “long-term success and with a clear line of sight to profitability.” Some key cost-reduction measures being implemented include the laying off of approximately 30 percent of the company’s staff, a general corporate costs reduction across all SG&A accounts, a downsizing of EU operations and its executives, resulting in an expected cost savings “in excess of $10 million per annum.” The company’s CEO, Holger Arians, said:
“These are measures of a responsible management. We have experienced rapid growth over the last year and while we strongly believe demand will resume its global rise, we cannot ignore the current market downturn and must be careful to grow with the long-term in mind so we can deliver sustainable value to both our partners and our shareholders.”
Notably, however, Banxa’s management believes the current market downturn “is temporary and that growth will resume within the next 6-18 months.”
A report published by Market Research Future finds that the global market for crypto ATMs, which was valued at $3.4 billion USD in 2021, is projected to register a compound annual growth rate (CAGR) of 56.5 percent from 2022 to 2030. The following excerpt from the report’s description outlines the impact of the COVID-19 pandemic on the market:
The COVID-19 pandemic has increased Bitcoin’s [BTC] investment value around the world, with consumers interested in buying into cryptos due to a widespread fear being caused by this deadly virus, especially among people who live in areas affected by the pandemic. But not only has the pandemic brought growth and massive financial gains for investors who sat on the Bitcoin bandwagon (or any other cryptocurrency), but it’s also given things like crypto ATMs more exposure, as more people discover how easy it is to use them.
Sam Mowers, Investorideas
For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory
About Investorideas.com – News that Inspires Big Investing Ideas
Investorideas.com publishes breaking stock news, third party stock research, guest posts and original articles and podcasts in leading stock sectors. Learn about investing in stocks and get investor ideas in cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy, gaming and more. Investor Idea’s original branded content includes podcasts and columns: Crypto Corner, Play by Play sports and stock news, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast, Cleantech and Climate Change, Exploring Mining, Betting on Gaming Stocks Podcast and the AI Eye Podcast.
The Investorideas.com podcasts are also available on Apple Podcasts, Audible, Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio, Google Podcasts and most audio platforms available.
Visit the Podcast page at Investorideas.com: https://www.investorideas.com/Audio/
Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.
Copyright and ownership: Crypto Corner is an Investorideas.com content brand
Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Donate to support great investing content available to everyone