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Ibukun Ogundare



Articles by Ibukun Ogundare

Baidu Records 15% Growth in Q2 2023 Revenue, CEO Attributes Increase to Advertising

August 22, 2023

[unable to retrieve full-text content]CoinspeakerBaidu Records 15% Growth in Q2 2023 Revenue, CEO Attributes Increase to Advertising
The CEO of Baidu disclosed that the company saw accelerated revenue and profit growth in the Q2 of 2023 due to the good performance of the online marketing business and operating leverage.
Baidu Records 15% Growth in Q2 2023 Revenue, CEO Attributes Increase to Advertising

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JPMorgan Chief Reacts to Fitch Ratings US Downgrade to AA+

August 3, 2023

[unable to retrieve full-text content]CoinspeakerJPMorgan Chief Reacts to Fitch Ratings US Downgrade to AA+
In reaction to the Fitch Ratings downgrade, the JPMorgan CEO said that “it doesn’t really matter that much”.
JPMorgan Chief Reacts to Fitch Ratings US Downgrade to AA+

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Meta Platforms Seeks Users Retention on Threads

July 28, 2023

[unable to retrieve full-text content]CoinspeakerMeta Platforms Seeks Users Retention on Threads
To continue serving its sign-ups and entice users to return to Threads, Meta wants to add more “retention-driving hooks”.
Meta Platforms Seeks Users Retention on Threads

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Twitter Changes Logo on Android App

July 27, 2023

[unable to retrieve full-text content]CoinspeakerTwitter Changes Logo on Android App
Notably, the update currently applies to Android users while the Twitter bird logo remains on the App Store.
Twitter Changes Logo on Android App

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TSMC to Capitalize on AI Boom with $2.9B Investment in Advanced Chip Packaging Plant

July 25, 2023

[unable to retrieve full-text content]CoinspeakerTSMC to Capitalize on AI Boom with $2.9B Investment in Advanced Chip Packaging Plant
According to Taiwan’s official Central News Agency, “the rapid growth of the artificial intelligence (AI) market has driven a surge in demand for TSMC’s advanced packaging.”
TSMC to Capitalize on AI Boom with $2.9B Investment in Advanced Chip Packaging Plant

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zkSync Era Announces New Proof System Boojum

July 17, 2023

[unable to retrieve full-text content]CoinspeakerzkSync Era Announces New Proof System Boojum
In an official announcement, zkSync highlighted the properties attributed to Boojum, which includes PLONK-style arithmetization.
zkSync Era Announces New Proof System Boojum

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Samsung Predicts 96% Profits Loss in Q2 2023

July 7, 2023

[unable to retrieve full-text content]CoinspeakerSamsung Predicts 96% Profits Loss in Q2 2023
The executive director of Daiwa Securities Capital Markets SK Kim said that Samsung may benefit from the US demand.
Samsung Predicts 96% Profits Loss in Q2 2023

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Telescope Labs Unveils GPT 4-Backed Advanced Tool for Analyzing and Grading Web3 Games

July 4, 2023

[unable to retrieve full-text content]CoinspeakerTelescope Labs Unveils GPT 4-Backed Advanced Tool for Analyzing and Grading Web3 Games
Apart from setting the bar with the first-of-its-kind solution, Telescope Labs boasts the plugin’s integration with artificial intelligence for advanced real-time analysis.
Telescope Labs Unveils GPT 4-Backed Advanced Tool for Analyzing and Grading Web3 Games

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SEC vs Coinbase Case Slated for July 13

June 30, 2023

In the Coinbase defense that triggered a new hearing date in July, the exchange noted that many of the tokens SEC highlighted in its allegations are outside the Commission’s purview.

The long-awaited legal battle between crypto exchange Coinbase (NASDAQ: COIN) and the US Securities and Exchange Commission (SEC) has been scheduled to hold on the 13th of July. Coinbase is just one of the crypto companies under the radar of the US financial watchdog. The Commission alleges that the exchange has been operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency. It also accused the company of not registering its staking-as-a-service program. The charges dial back to 2019, claiming that Coinbase has unlawfully generated profits.
SEC

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Google Says It Will Remove All News Links in Canada in Response to Online News Act

June 30, 2023

Google said the decision by Canada exposes the company to “uncapped financial liability”.

Google (NASDAQ: GOOGL) is removing all Canada news links from its search due to a new Online News Act. The tech giant said it would block all Canadian news, meaning users will no longer find any report linked to the country on the search engine. The decision was in response to a new law that required tech companies to pay media outlets for content.
Last week, the Canadian government’s controversial C-18 legislation in Canada passed parliament despite Google noting that it was “unworkable”. Meta (NASDAQ: META) also criticized the bill on the grounds that it was unfair to impose compensation on tech companies. Google and Meta have been battling with the government over the law forcing them to pay

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Shein Denies US IPO Rumors

June 30, 2023

Even if the IPO rumors were true and Shein wanted to list in the US, the company would need to clear the air about environmental, social, and governance concerns.

Fast-rising Chinese fashion giant Shein has denied the widespread rumors that it has filed for an initial public offering (IPO) in the US. Rumors had it that the company was planning to go public in the US before the end of the year. At the time, A Reuters report said Shein was considering the New York Stock Exchange (NYSE) for its IPO, but market volatility caused by the Russia-Ukraine war made it suspend its plans. The report cited people with knowledge of the matter and added that the listing could make Shein the most valuable Chinese company to go public in the US since Didi’s IPO in 2021.
Shein Turns Down Alleged US IPO

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H&M Shares Soar 17%, Hits 16-Month High

June 29, 2023

The company’s CEO Helena Helmersson said H&M upped sales in multiple markets even as customers reduced their spending behavior.

On Thursday, popular fashion retailer H&M saw its shares reach a 16-month high as its Q2 profits exceeded expectations. The multinational clothing company gained 16.74% to reach its highest level since February 2022. At a time when people are spending more on food to survive the increasing cost of living, the retailer managed to surge as it targets shoppers less vulnerable to the high standard of living. H&M also began to record a significant share increase as it began its cost-cutting measures.
Like many other companies, H&M laid off employees to reduce high costs and amass profit. The company became the first European retailer to dismiss staff in response to

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Tencent and Ant Group Open Up Mobile Payments to Foreigners in China

June 28, 2023

The latest announcement means that Tencent and Ant want to allow visitors to make payments with different vendors in China.

Foreigners can now easily pay for goods and services in China as payment giants Tencent and Ant Group said users can directly link international credit cards to their platforms. Therefore, tourists can connect their pay via the two dominant mobile pay apps- Tencent’s WeChat Pay and Ant Group’s Alipay. Over the years, China’s payment system has kept credit cards out of use, and this has been affecting foreign visitors. The entire country shifted towards a cashless society, relying heavily on digital and mobile payments.
Since mobile apps became the primary means of payment in China in the late 2010s, the mobile payment network has become inaccessible to foreign

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Baidu Says Ernie 3.5 Outdid ChatGPT and GPT-4 in Key Metrics

June 27, 2023

The result of the AGIEval and C-Eval tests shows that Ernie 3.5 achieved higher scores than other large models, including ChatGPT, and surpassed GPT-4.

Competition in the AI market heats up as China’s Baidu said its AI model Ernie 3.5 beats the popular OpenAI’s ChatGPT AND GPT-4 on key tests. The Chinese internet company unveiled the Ernie bot at an event in March. At the time of the announcement, CEO Robin Li said that the new product was imperfect and would continue to improve as people use it and give feedback. Within an hour after revealing the Ernie bot, Baidu stated that about 30,000 corporate clients joined the waitlist to access the chatbot.
Meanwhile, Baidu has been publicly testing Ernie Bot since it was unveiled in March. The chatbot, built on the Chinese search engine’s

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Berkshire Hathaway Sells 2.53 Million of China’s BYD Shares

June 26, 2023

Berkshire Hathaway purchased 225 million of the EV maker’s shares for $230 million in 2008.

American multinational conglomerate Berkshire Hathaway (NYSE: BRK.B) sold 2.52 million shares of Chinese EV maker BYD listed in Hong Kong on the 19th of June. A stock exchange filing revealed that the investment company sold the shares for HKUS$ 675.80 million, equaling $86.3 million.
Berkshire Cuts China’s BYD Shares Holdings
Following the sale of the BYD share, Berkshire Hathaway’s holdings in the Chinese company’s issued H-shares reduced from 9.21 % to 8.98%. Notably, Berkshire Hathaway is not new to selling part of its shares. As a matter of fact, it is not the first time this year the investment company will be selling its shareholdings in other companies. Before its move on BYD, Berkshire

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Siemens Energy Stock Loses 35% as Review of Issues at Subsidiary Shows Wind Turbine Problems Could Last for Years

June 23, 2023

Siemens Energy CEO Christian Bruch said that “too much had been swept under the carpet” concerning Siemens Gamesa.

Shares of Siemens Energy declined 35% earlier today as the company discarded its profit prediction and mentioned lasting wind turbine issues. Following a review of concerns at its subsidiary Siemens Gamesa, the company announced its findings of a “substantial increase in failure rates of wind turbine components”. However, its shares plunged as the market reacts to the unpleasant update.
Siemens Energy Wind Turbine Issues Linger
The Thursday report shows that the Siemens Gamesa board has started an “extended technical review” to upscale product quality. Meanwhile, the parent company noted that the review cost is now “significantly higher” than earlier predicted. The current

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More than 100,000 ChatGPT Credentials Are Leaked on Dark Web

June 23, 2023

Group IB’s analysis showed that most of the stolen ChatGPT login credentials were done by the notorious information-stealing malware Raccoon info stealer.

OpenAI’s chatbot ChatGPT has been hit by one of the most common forms of cyber attacks, causing the leakage of more than 100,000 login credentials. Singapore-based cybersecurity firm Group-IB revealed in a report that the login credentials were gradually released over the past year.
Global-IB’s Report Reveals Compromised ChatGPT Login Credentials
According to the June 20 report, Global-IB discovered 101,134 devices with saved ChatGPT credentials on the dark web. Credential theft started in June 2022 and peaked at 26,802 in May 2023. Also, the data traded on illicit dark web places between June 2022 and May 2023. Following its

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UK Raises Interest Rates for 13th Consecutive Time

June 22, 2023

The Monetary Policy Committee promises to keep an eye on the indications of the long-lasting inflationary pressures in the economy. It plans to monitor the labor market, wage growth, and hike in service prices.

The Bank of England hit the market with a 50 basis point hike to interest rates in the UK. The UK central bank announced the rates hike on Thursday after the Monetary Policy Committee voted to favor the increase. Notably, this marks the 13th consecutive increase as the policymakers seek ways to fight the troubling and persisting high inflation eating into the economy.
UK Central Bank Ups Interest Rates by 50 Basis Point
The 50 basis point hike resulted from the Committee’s vote, which turned out to be 7-2 in favor of the addition, taking the central bank’s base rates to 5%.

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Binance Unveils Local Digital Asset Platform in Kazakhstan

June 22, 2023

According to the General Manager of Binance Kazakhstan Zhaslan Madiyev, the platform has joint forces with five regulatory bodies in the country.

As always, the popular crypto exchange Binance is expanding its horizon by launching a regulated platform in Kazakhstan. The company announced the new local digital asset platform in the country on June 20th after receiving a go-ahead in October last year. At the Astana International Financial Center (AIFC) in 2022, the AIFC Financial Services Authority (AFSA) gave crypto exchanges the license to manage a digital asset platform and offer custodial services. About eight months after the green light, Binance is launching a local exchange in Kazakhstan.
Binance Launches Regulated Digital Asset Platform in Kazakhstan
The new regulated platform was

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Bitkey Forms Alliance with First Global Partners: Coinbase and Cash App

June 16, 2023

While announcing Coinbase and Cash App as the new partners, Bitkey referred to some information it passed in March.

Bitkey, a self-custody Bitcoin wallet app by Jack Dorsey’s Block, is partnering with Cash App and crypto exchange Coinbase (NASDAQ: COIN). The Bitcoin wallet application announced its first two global partners on June 15, noting that it aims to make self-custody more accessible. In addition to enabling customers to purchase, the alliance assures control over private keys.
Previously, former Twitter CEO Jack Dorsey conducted an in-house beta of the Bitcoin self-custody wallet, which was available to Block employees only. Now, Block is opening up access to the general public, commencing in the coming weeks. Block plans to roll out the full Bitkey product suite in the UK, US,

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Pro-Bitcoin Miami Mayor Files Paperwork for US Presidential Bid

June 15, 2023

While the Bitcoin community may support the Miami Mayor and cast their vote for him, his acknowledgment about not voting for Trump in the 2016 or 2020 elections could affect their decision.

The Mayor of Miami and Bitcoin advocate Francis Suarez has signaled his intention to run for the US presidential position. As he joins the Republican race for the seat of president, Suarez has become the first Hispanic in the group. As the son of the city’s first Cuban-born Mayor, Miami voters have elected the Bitcoin bull twice. Currently, he serves as the Mayor of the city, which has around 450,000 residents.
The Miami Mayor is contesting former US president Donald Trump and fellow Florida Governor Ron DeSantis, who is another Bitcoin advocate, as they all fight to lead the Republican presidency

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George Soros Hands Over Control of $25B Empire to Son Alex

June 12, 2023

Alex said that he is “more political” than his dad and mentioned his stance against the former president.

George Soros, the popular philanthropist, and businessman, revealed that he is handing over his $25 billion empire to his son Alex. According to Forbes, George Soros is one of the top 400 wealthiest people in the world, with a net worth of $6.7 billion.
The billionaire is a celebrated hedge fund tycoon who moved $18 billion from his family office to his Open Society Foundations as of 2018. Notably, the Foundations consist of several charities operating in over 100 countries. And Alex, whom he had just handed over his billion-dollar empire to, was appointed Chair in December. He also oversees George’s “user PAC”. The billionaire’s son is the second-youngest of five children and the

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‘We’ve Seen Some Really Incredible Breakthroughs on Generative AI,’ Meta CEO Mark Zuckerberg Says

June 9, 2023

Meta will work towards making these AI capabilities accessible to people.

Mark Zuckerberg recently revealed that Meta (NASDAQ: META) has been experiencing “incredible breakthroughs” in its use of generative artificial intelligence (AI). Like many other tech giants, Meta is also in the middle of the AI race, which has become the latest evolution in the market. Not only tech companies, but different organizations across diverse fields have also started adopting AI in the latest developments.
Meta Records Significant Breakthroughs with Generative AI
According to a spokesperson, the Meta boss spoke about the areas where the company uses generative AI during a meeting with employees on Thursday. The meeting was held in the Hacker Square Pavilion at the tech company’s headquarters in

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Binance Attorneys Say SEC Boss Offered to Be Advisor to Crypto Company in 2019

June 8, 2023

At the time Gensler was offered to be an advisor to Binance, he was teaching at Massachusetts Institute of Technology’s Sloan School of Management.

According to the lawyers of Binance and its CEO Changpeng Zhao, SEC chair Gary Gensler was offered to be an advisor to Binance’s parent company in 2019. Interestingly, Gensler has been spearheading the crackdown against the crypto industry over the past year. Binance and other crypto companies are currently under the radar of the US regulator over violations of securities laws. The SEC chair has repeatedly expressed his bearish stance against crypto and crypto companies. He said in March that just because a crypto trading platform claims to be a qualified custodian does not mean that it is.
SEC Chair Could Become an Advisor to Binance in

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Binance US Removes Selected Trading Pairs Amid SEC Allegations

June 8, 2023

Binance is also pausing its OTC Trading Portal services in the US. The exchange said that it will notify users if and when the portal opens in the coming weeks and months. 

The US arm of top crypto exchange Binance has removed 10 advanced trading pairs from its platform. In an announcement, the exchange said it would let go of select BTC and BUSD Advanced Trading pairs by 9 am PDT on June 8, 2023. Notably, the company earlier planned to eliminate over 100 crypto assets. The initial decision was supposed to affect USDT, BTC, and BUSD advanced trading pairs for digital assets like Bitcoin Cash, Uniswap, and others. According to the breakdown of the former remover provided by Binance, 95 assets were paired with USDT. In addition, eight cryptos were paired with BTC, while two were with

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South Korea Regulator Delays Binance Acquisition of Gopax Due to SEC Lawsuit 

June 7, 2023

While Binance saw the acquisition of Gopax as a means of re-entering South Korea, it was also meant to be a turning point for the local trading platform.

The SEC’s lawsuit against Binance has started affecting the company’s operations, particularly its acquisition of Gopax in South Korea. The US Securities and Exchange Commission filed a case against Binance for violating securities law. According to the filing with the federal court in Washington, Binance mishandled investors and also misled both investors and regulators. The Commission also alleged that the exchange broke the rules by letting Americans trade in an unsecured and unprotected environment.
The Director of the SEC’s Division of Enforcement, Gurbir S. Grewal, wrote in the filing that Zhao and the Binance entities

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Vice Media Files for Chapter 11 Bankruptcy

May 15, 2023

Before this announcement, Vice Media had begun to restructure its global organizational workforce.

American-Canadian digital media company Vice Media Group has filed for Chapter 11 bankruptcy after several years of financial struggle. The company, which was valued at $5.7 billion in 2017, is currently worth less than $1 billion. Top executives of the media giant have failed to give any detailed evaluation of the company’s net worth.
Vice Media’s lenders are planning to take on administrative control of the company through necessary filings. These lenders include Fortress Investment, Soros Fund Management, and Monroe Capital. About five companies have previously shown interest in purchasing the media company.

Vice Media Bankruptcy Filings
Vice Media has completed filing for

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Standard Chartered Signs MoU with DIFC to Launch Digital Asset Custody Services in Dubai

May 11, 2023

Both parties look forward to partnering on opportunities that support their visions and promote a thriving digital asset ecosystem.

Banking corporation Standard Chartered plans to launch digital asset custody services in the Dubai International Financial Centre (DIFC). While the plans are still subject to regulatory approval, Standard Chartered said the new digital asset custody services in Dubai will focus on institutional investors.
Also, one of the banking corporation subsidiaries, Zodia Custody, will power the new custody services. The institutional-grade crypto asset custodial platform recently secured approximately $36 billion in a funding round. The crypto startup noted that Japanese financial conglomerate SBI Holdings led the round with participation from SC Ventures. Following

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Palantir Technologies Sells Off 100-Ounce Gold Bars Acquired in August 2021

May 11, 2023

Palantir also revealed that it closed the quarter with $1.62 billion in US Treasury securities.

Software company Palantir Technologies (NYSE: PLTR) has sold all the gold bars it acquired in August 2021. The company invested $50.9 million to buy 100-ounce precious metal, which it said will be initially kept in a secure third-party facility in the northeastern United States. At a time when many companies put their money in Bitcoin and other digital assets, Palantir said the gold bars investment was a hedge against economic crisis. The crypto market was booming during the period, and other tech companies pumped cash into equity investments and even BTC. However, Palantir decided to bet on gold bars, noting that it could “take physical possession of the gold bars stored at the facility at

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