We can’t get over this one: For the first time in a decade, Netflix shares are up by more than a third today, and the company’s earnings report has exceeded Wall Street estimates. The rise comes in spite of another revenue miss, which shows that Netflix is still struggling to gain traction in new international markets. That said, the company’s report also confirmed that its quality of service is improving.
In a year when the average share price of a publicly-traded company was at an all-time high, a few companies still managed to shatter records. In the world of crypto, however, nobody broke any records in 2017.
Blockbuster Inc. (NYSE:BBI) is a video entertainment company. It’s most famous for its home video rental stores, which were once the largest in the United States. But over the past decade or so, the company has been struggling to find a profitable business model to offset the decline of the brick and mortar stores, which now make up a small fraction of its revenue.
A rotating door is one of the most entertaining things you can do. We’re not simply talking about wasting time in a hotel lobby with your kids.
We’re talking about individuals who earn millions by lobbying the government after working in a government job.
The iconic pool scene from The Major Short, in which an apparent bimbo working for the US Securities and Exchange Commission (SEC) attended the Las Vegas party in a brazen effort to obtain employment at the big Wall Street companies, will certainly be remembered by most of us.
Former Acting Comptroller of the Currency Brian Brooks traveled from Coinbase to the Office of the Comptroller of the Currency to Binance in under a year, but he kept his beliefs near throughout.
Though I won’t begrudge the recent revolving door issue impacting the crypto market, it does show how certain individuals lack moral compass.
Former SEC Chair Jay Clayton’s profile on the advisory board of One River Asset Management can be seen at this site, and he’s been there since March 2021, only three months after leaving the government watchdog.
Two months later, the firm announced their filing for a carbon-neutral bitcoin exchange-traded fund (ETF). Obviously, it would be very difficult to prove any sort of conflict of interest on Clayton’s infamous last day in office, when the SEC took legal action against Ripple Labs.
Clearly, there isn’t anything new here. We already know that anybody with a desired job in government will have little trouble making a fortune in the private sector.
Given Clayton’s poor record as a politician, I always wondered who would employ him.
I never saw him as a proponent of bitcoin institutionalization in my wildest fantasies. What a weird world we live in.
Earnings from blockbusters
On Wall Street, we’re halfway through earnings season, when all publicly listed businesses report on how well they performed in the second quarter of 2021.
Despite the fact that GDP statistics fell short of forecasts and the housing market bubble burst, both of which I mentioned in our CoinDesk interview last Thursday, corporate earnings are metaphorically through the sky at the moment.
According to the report, profits have increased by 86 percent in the past year, the largest increase since the fourth quarter of 2009.
That makes sense, since we’re counting from the depths of the lows in both eras and evaluating the entire rebound from the bottom.
We’re also looking at a time of unparalleled central bank money printing in both instances.
Yesterday didn’t seem like a record-breaking day for bitcoin in terms of volume, but it was the second-largest day on record in terms of on-chain data, with a total of $69.69 billion worth of value moving through the global payment system.
The strange thing is that the large on-chain volumes seem to be isolated from the rest of the market.
Messari crypto’s exchange volumes have been very low during the past six trading days, and the mempool is entirely empty.
Even weirder, the number of transactions on the blockchain yesterday were considerably below normal, and the number of unique addresses utilized was at its lowest since 2016!
This is definitely some odd whale behavior that has yet to be explained. I’m sure there’s a perfectly reasonable explanation, but given the pseudonymous nature of bitcoin’s blockchain data, figuring out what the pods are up to may take a long time, if we ever discover the truth.
After the botched 2018 acquisition of Blockbuster by Dish Network, many wondered if the streaming service’s days were numbered. Well, it turned out that Dish wasn’t interested in owning Blockbuster’s valuable streaming catalog since they subsequently turned to subscribe services such as Netflix, Hulu, and Amazon Prime. Some analysts are even suggesting that Blockbuster may be a better investment than Netflix since it has a wider range of films, and it’s less likely to be disrupted by new streaming services.. Read more about hubs earnings date and let us know what you think.
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