Crypto lender BlockFi files for bankruptcy, cites FTX exposure – Times of India

 

Cryptocurrency lender BlockFi has filed for Chapter 11 chapter safety, it mentioned on Monday, the newest trade casualty after the agency was damage by exposure to the spectacular collapse of the FTX change earlier this month.
The submitting in a New Jersey courtroom comes as crypto costs have plummeted. The value of bitcoin, the most well-liked digital forex by far, is down greater than 70% from a 2021 peak.
“BlockFi’s Chapter 11 restructuring underscores significant asset contagion risks associated with the crypto ecosystem,” mentioned Monsur Hussain, senior director at Fitch Ratings.
New Jersey-based BlockFi, based by fintech government-turned-crypto entrepreneur Zac Prince, mentioned in a chapter submitting that its substantial exposure to FTX created a liquidity disaster. FTX, based by Sam Bankman-Fried, filed for safety within the United States this month after merchants pulled $6 billion from the platform in three days and rival change Binance deserted a rescue deal.
“Although the debtors’ exposure to FTX is a major cause of this bankruptcy filing, the debtors do not face the myriad issues apparently facing FTX,” mentioned the chapter submitting by Mark Renzi, managing director at Berkeley Research Group, the proposed monetary advisor for BlockFi. “Quite the opposite.”
BlockFi mentioned the liquidity disaster was on account of its exposure to FTX by way of loans to Alameda, a crypto buying and selling agency affiliated with FTX, in addition to cryptocurrencies held on FTX’s platform that turned trapped there. BlockFi listed its property and liabilities as being between $1 billion and $10 billion.
BlockFi on Monday additionally sued a holding firm for Bankman-Fried, in search of to recuperate shares in Robinhood Markets Inc pledged as collateral three weeks in the past, earlier than BlockFi and FTX filed for chapter safety.
Renzi mentioned BlockFi had bought a portion of its crypto property earlier in November to fund its chapter. Those gross sales raised $238.6 million in money, and BlockFi now has $256.5 million in money readily available.
In a courtroom submitting on Monday, BlockFi listed FTX as its second-largest creditor, with $275 million owed on a mortgage prolonged earlier this yr. It mentioned it owes cash to greater than 100,000 collectors. The firm additionally mentioned in a separate submitting it plans to put off two-thirds of its 292 workers.
Under a deal signed with FTX in July BlockFi was to obtain a $400 million revolving credit score facility whereas FTX received an choice to purchase it for as much as $240 million.
BlockFi’s chapter submitting additionally comes after two of BlockFi’s largest rivals, Celsius Network and Voyager Digital, filed for chapter in July, citing excessive market situations that had led to losses at each corporations.
Crypto lenders, the de facto banks of the crypto world, boomed in the course of the pandemic, attracting retail prospects with double-digit charges in return for their cryptocurrency deposits.
Crypto lenders aren’t required to carry capital or liquidity buffers like conventional lenders and a few discovered themselves uncovered when a scarcity of collateral compelled them – and their prospects – to shoulder massive losses.
BlockFi’s first chapter listening to is scheduled to happen on Tuesday. FTX didn’t reply to a request for remark.
Creditor record
BlockFi’s largest creditor is Ankura Trust, which represents collectors in pressured conditions and is owed $729 million. Valar Ventures, a Peter Thiel-linked enterprise capital fund, owns 19% of BlockFi fairness shares.
BlockFi additionally listed the US Securities and Exchange Commission as one of its largest collectors, with a $30 million declare. In February, a BlockFi subsidiary agreed to pay $100 million to the SEC and 32 states to settle fees in reference to a retail crypto lending product the corporate provided to just about 600,000 traders.
Bain Capital Ventures and Tiger Global co-led BlockFi’s March 2021 funding spherical, BlockFi mentioned in a press launch issued on the time. Both companies didn’t instantly reply to a request for remark.
In a weblog put up, BlockFi mentioned its Chapter 11 instances will allow the corporate to stabilize its enterprise and maximize worth for all stakeholders.
“Acting in the best interest of our clients is our top priority and continues to guide our path forward,” BlockFi mentioned.
In its chapter submitting, BlockFi mentioned it had employed Kirkland & Ellis and Haynes & Boone as chapter counsel.
BlockFi had earlier paused withdrawals from its platform.
In a submitting, Renzi mentioned Blockfi intends to hunt authority to honor shopper withdrawal requests from its buyer pockets accounts, through which crypto property are held in custody. However, the corporate didn’t disclose plans for the way it may deal with withdrawal requests from its different merchandise, together with curiosity-bearing accounts.
“BlockFi clients may ultimately recover a substantial portion of their investments,” Renzi mentioned within the submitting.
Origins
BlockFi was based in 2017 by Prince, at the moment the corporate’s chief government officer, and Flori Marquez. Though headquartered in Jersey City, BlockFi additionally has places of work in New York, Singapore, Poland and Argentina, in keeping with its web site.
In July, Prince had tweeted that “it’s time to stop putting BlockFi in the same bucket / sentence as Voyager and Celsius.”
“Two months ago we looked the ‘same.’ They shut down and have impending losses for their clients,” he mentioned.
According to a profile of BlockFi revealed earlier this yr by Inc, Prince was raised in San Antonio, Texas, and financed his faculty schooling on the University of Oklahoma and Texas State University with winnings from on-line poker tournaments. Before beginning BlockFi with Marquez, he held jobs at Orchard Platform, a dealer seller, and at Zibby, a lease-to-personal lender now referred to as Katapult.
Marquez beforehand labored at Bond Street, a small enterprise lending outfit that was folded into Goldman Sachs in 2017, in keeping with Inc.

 

VRJAM Announces The Initial Exchange Offering Of Its Revolutionary Metaverse Currency, Vrjam Coin

 

VRJAM, the leading platform for Web3 live events, today announced the launch of its revolutionary new digital currency VRJAM Coin will IEO on the 30th of November via exchanges Gate.io and MexC. VRJAM’s and metaverse crypto-coin is currently valued at $US40M and has attracted investment from 15 of the world’s leading web3 focussed VC’s and investors.

VRJAM first came to market with an ‘alpha state’  product in 2019 and then bootstrapped the business for 4 years, producing double-digit growth year after year. The founder’s tenacious approach ultimately grew the business to become a UK market leader for immersive live events, servicing hundreds of premium content creators and brands along the way.

At the start of the month, VRJAM’s public content platform was released after 4 years of development and market validation, download the VRJAM platform app now and dive into the virtual world of 5th Dimension, or create an account on the VRJAM browser application to render a custom avatar and buy VRJAM NFT’s.

VRJAM offers a premium content platform for high quality, immersive live events that’s been built based on years of experience servicing clients like Red Bull, Glastonbury Festival’s Shangri La, Twitch (an Amazon-owned company) and even the UK Government’s Creative Industries Council.

VRJAM’s technology has also caught the attention of blue-chip tech brands including Google (VRJAM is a member of the elite Google Campus startup accelerator) and the world’s biggest game publisher Epic Games (Epic provided funding and financial support to VRJAM through the prestigious Epic Mega Grants program).

The quality of VRJAM’s native currency has been firmly validated by the investments made in the currency to date which total $US2.2M in invested capital, a list of the VCs and investors who’ve backed VRJAM Coin to date include, NGC Ventures, Sky Vision Capital, DWF Labs, EnjFi, Gate.io Ventures, Animal Concerts, AU21, Stablenode, Axia 8, Enjin, Eight Rings Ventures, Panony, TPS Capital and Oracle Investment Group.



VRJAM Coin is somewhat unique in the web3 vertical due to its focus on the consumer use case. VRJAM Coin is also intended to be used by consumers, brands, and content creators to buy and sell products, content and services inside the rich, virtual world built on the VRJAM platform.

This fact means that demand for the coin is magnified by its use by consumers and brands. By way of this extra demand, the token price is somewhat insulated from the storms of the crypto markets, offering investors a safer, more stable opportunity.

The VRJAM platform offers a wide array of use cases for its cryptocurrency including buying and selling tickets, avatars, backstage passes, premium content and virtual real estate. VRJAM’s virtual real estate model is also unique and offers a smart alternative to the traditional ‘metaverse land’ investment modelo, find out more about this on the VRJAM website.

However the most important part, of the consumer use case that VRJAM Coin addresses, is how consumer conversion from Web2 to Web3 happens. 

VRJAM’s user acquisition strategy relies on collaboration with global brands and content creators, whereby consumer audiences are offered free access to magical experiences on the VRJAM platform. By cooperating with top creators and brands to offer premium content fans can’t get anywhere else, VRJAM gains access to a powerful user acquisition strategy that turns the consumer audiences into account owners and coin holders on the VRJAM platform.

A few brands and creators VRJAM already works with to activate live events and content on the platform are Animal Concerts, Polygon Studios, Snoop Dogg, Billy Ray Cyrus & Avilla Brothers ‘Hardworking Man’ metaverse project, Roger Sanchez, Umek, DJ Craze, Jay Worra and Stanton Warriors.

This strategy is enhanced and accelerated by VRJAM’s play-to-earn rewards program, whereby over $US20M in cryptocurrency will be distributed as consumer rewards and incentives to drive adoption of VRAM’s technology.

On the 30th of November, a number of key events will combine to create a successful market entry for VRJAM Coin including; the activation of VRJAM’s NFT marketplace via the offering of a range of super rare NFTs from top-tier music artists. The launch of VRJAM’s native.staking pools including farming pools and traditional, time-locked pools to give the VRJAM community opportunities to grow their investment and the launch of VRJAM Coin on 2 of the world’s leading crypto exchanges, MexC and Gate.io.

The VRJAM Coin initial DEX offering is live now on 3 of the world’s leading IDO launchpads, Trustpad, Kommunitas and Erax. Head to one of VRJAM’s IDO launchpads to invest and join the VRJAM Community

About VRJAM

VRJAM is an award-winning real-time platform for premium virtual events and immersive social gaming.

The VRJAM platform empowers creators and brands to offer fans inspiring immersive experiences that redefine fan engagement within the Web3 environment. Over the last 3 years, the platform has empowered some of the world’s leading brands and artists to redefine fan experience in digital space including Carl Cox, Ultra Records, Twitch, Red Bull and Fatboy Slim to name a few.

These experiences are monetized using VRJAM’s native cryptocurrency, VRJAM Coin and also by way of the creation of revolutionary new types of NFT’s that are native to the virtual world of VRJAM.

The live experience features of the platform combine with elegant smart contract infrastructure and crypto native feature sets to create new ways for brands and content creators to render digital content and engage with fans.

VRJAM’s community of partners, advisors and investors includes some of the leading brands in the blockchain space including Polygon, and Gate.io as well as an array of top tier consumer brands including the world’s leading game publisher, Epic Games.

 

3 Trends for the Cryptocurrency Market in 2023

Three categories may be highlight of 2023 as they are focused on solving this year’s big issues

 

Guessing what trends to expect next in the crypto world is not an easy task. Therefore, today we are going to analyze the sectors that may stand out in 2023. It is important to note that this content is not a recommendation to buy or sell any cryptocurrency.

Layer 0

Indeed, this is one of the areas of greatest interest to large investors and developers.

Layer 0 solutions were developed for the blockchain market to allow the interoperability and construction of blockchains with specific characteristics without the need for a centralizing protocol.

Layer 0 solutions allow the interoperability and construction of blockchains with specific characteristics without the need for a centralizing protocol.

Furthermore, Layer 0 manages to bring security while improving the user experience in the world of smart contracts. We cannot fail to point out that by communication with different networks, the user ends up paying a lot of fees, reducing his profit on a transaction.

Despite the dramatic price drop seen on the crypto market this year, resources through the blockchain remain in high demand. If they remain the same, Layer 0 solutions will grow accordingly.
 

Benefits:

  • Reduces costs;
  • Eliminates intermediation;
  • Increases security; 
  • Complement Layer 1 and Layer 2.

Two notable examples of Layer 0 are Polkadot (DOT) and Cosmos (ATOM).

DeFi

With the bankruptcy of FTX, decentralized finance may gain even more space in 2023. Although this environment still lacks good user experience, investors who felt – and are still feeling – the ripple effects of Sam Bankman-Fried’s exchange on their loans and centralized income, may prefer to study a little more and venture into this sector.

Decentralized finance has the benefit of working through smart contracts. Developers can always audit their operations and bring information to investors if a DEX (decentralized exchange) or lending platform is working perfectly, as everything is recorded on the blockchain.

Furthermore, the fact that the user does not have to relinquish custody of their assets could be a crucial factor for more attention being focused on decentralized finance. The solutions being prepared by decentralized oracles to make DeFi even more attractive could also boost this sector in the coming year.

Benefits: 

  • Permissionless;
  • Has immutability; 
  • Much more transparent than centralized platforms; 
  • Easy access to tokenization.

Chainlink (LINK) and Uniswap (UNI) are the highlights of the DeFi sector.

Bitcoin

That’s right, the primary cryptocurrency cannot be left off of our list. When it comes to security, no blockchain asset has managed to prove such strength in this area.

The capitalization loss did not cause Bitcoin’s fundamentals to change. Miners continued validating transactions and the BTC network fee reached historic levels even as the cryptocurrency price failed to respond.

Bitcoin was the only cryptocurrency to be championed 100% by blockchain investors after the FTX collapse, and it further strengthened the sentiment of maximalism around it. True decentralization is found in BTC and, therefore, it is still a great response to all the crashes that occurred in 2022. It remains a great alternative to projects with a high degree of centralization.

Terra Classic (LUNC) and FTT are examples of what it is like to create money out of thin air and without value. Bitcoin displays exactly the opposite – money that comes from proof of work and brings with it the value of financial empowerment.

 

Six Reasons Why LONGER Is the Best 3D Printing Companion for Hobbyists

The 3D printing industry has grown immensely over the years, and has in turn, boosted other industries, such as food, health and vehicle manufacturing. You can also get 3D printers for hobbyists, who make various crafts using the printers at home.

As a hobbyist into 3D printing, you need a reliable companion that will provide you with high-quality equipment. LONGER is such a firm, based in Longgang District, Shenzhen, China. 

The following are reasons why you should rely on this company for your 3D printer needs.

  1. It Is a Legitimate Company

When looking for a suitable company to buy various items, you should ensure that it is legitimate. LONGER is a credible company with an existing physical address and over 100 employees. Additionally, it has branches in different parts of the globe. 

Another hint of its legitimacy is the various awards it has to its name, such as being named one of the top Chinese high-tech companies worldwide. Do not be afraid to deal with LONGER as it assures you of your funds’ safety, same to your personal info.

  1. A Vast Product Catalog

LONGER has a diverse product catalog, containing different types of 3D printers, laser engravers and their associated accessories. Under the 3D printer category, you have resin and FDM printers. Under resin, you can go for the Orange 4K, or Orange 30, and more. You got the LONGER LK4 X, LK1, LK4 PRO and more under the FDM category.  

LONGER laser engravers include the RAY5 5W and 10W. The engravers need you to install the MKSLaser app on your smartphone to turn it to a remote control. 

  1. The Discounts and Offers

Price is a crucial factor to consider when picking an ideal company to buy 3D printers from. Most 3D printers and accessories are expensive, which is why LONGER comes to your aid. It eases your financial burden courtesy of impressive offers and discounts.

You can start by raking in the email subscription offer, where you get $20 off for purchases above $300. Also, you can gift your loved ones by sending them a link, where they get a 5% price cut for their initial purchases.

  1. Fast Shipping

Waiting for your item to arrive home is one of the most trying moments. LONGER delivers fast, with shipping times of 3-15 days, though it may be longer, up to 20 days for Asian deliveries. You may or may not have to pay shipping fee, depending on your destination. Please refer to the shipping policy for more info.

  1. A Friendly Returns Policy

Another reason to shop with LONGER is its friendly returns and warranty policies. You have a 7-day refunds and 30-day exchange window. Past this timeframe, a 12-month warranty with quick response covers you.

  1. The Affiliate Program

LONGER has an affiliate program that you can sign up for to earn extra income. If accepted you must share product links to friends and associates. You earn a commission if your referrals purchase a product.

Thryve Digital Fresher Jobs 2023 | Fresher | Direct Link

Thryve Digital Fresher Jobs 2023 Off Campus Jobs Walkin Drive and Recruitment Eligibility, Careers, Salary, Syllabus, Exam Pattern, Selection Process: Thryve Digital Company will be seeking candidates for graduate positions Off campuses. Candidates who have successful in BE/B.Tech, ME/M.TechMCA, Any Degree branches are eligible to apply. Here you can find the Thryve Digital address, the date of interview, details on eligibility and interview agenda, as well as the application process information, and application procedure are provided below.

About The Company

Thryve Digital, with its new headquarters in Chennai, India is one of health care’s first global development centres where the best minds in health care technology, science and business create powerful and innovative solutions that transform lives. Solutions that provide the connectivity, sustainability and seamless integration demanded by multi-platform health care systems – every code, every application is infused with the human element, organically nurtured by our passionate team of IT and business process experts who, like our clients lead with their hearts and minds dedicated to improving and providing the best in health care technology – Today and Tomorrow.

Thryve Digital Fresher Jobs 2023 Details

Job Description For Thryve Digital Fresher Jobs 2023

  • Candidate must have strong interpersonal and strong communication skills (Written, Verbal and Collaboration Skills).
  • Requirement elicitation and documentation.
  • Candidate must have strong understanding on Microsoft software suites (Outlook, Word, Excel, PowerPoint, etc.)
  • Good Analytical skills.
  • Candidate must be available to work from our Chennai Office.
  • Education Qualification – Any UG/PG degree.

Skills Required For Thryve Digital Fresher Jobs 2023

  • Good communication Skills and Verbal Skills
  • Good teamwork
  • Problem solving
  • Initiative and enterprise
  • Planning and organizing
  • Self-management
  • Quick learning Skills
  • Good technology Subjects.

Selection Process For Thryve Digital Fresher Jobs 2023

  • Aptitude Written Test Online
  • Group Discussion
  • Technical Interview
  • HR Interview

Also Read : 10 Ways To Improve Your Resume Score

Thryve Digital Placement Papers 2023 – Download Pdf

Are you ready to pass your way through the written Test effortlessly? These papers for the 2023 Placement Test can be very helpful. Candidates looking for Thryve Digital Placement Papers will be able to end their hunt. Here, we have all the MNC and other businesses Placement Papers in PDF format. For those who recently applied for Thryve Digital Jobs 2023 can go to this page to download the test papers for written examination for free.

Candidates can access easily the practice papers here. In addition to completing more Placement Papers, you can effortlessly take to pass the Placement Test. After going through the questions, they can get a feel like a real company placement test. Candidates could use these test questions as a mock test to assess their knowledge of every subject.

Documents to be Carried for Thryve Digital Jobs 2023

  • You should carry a copy of the Latest Resume.
  • Aadhar Card (original and photocopy) with three passport size photographs are must.
  • You need to carry any Government Certified ID Proof like the PAN, Voter ID, Passport.
  • Students should have all the essential educational certificates along with the xerox copies.

How To Apply For Thryve Digital Jobs 2023

  • Step 1 : Eligible candidates apply this drive online by below link
  • Step 2 : Complete Application Form and Submit Your Resume Along With Cover Letter
  • Step 3 : After Completing Above 2 Steps You Get Interview Call Letter and Crack The Interview

FTX collapse won’t impact everyday use of crypto in Brazil: Transfero CEO

 

The crumbling of the FTX crypto empire may have damaged Brazilian retail and institutional sentiment toward crypto. However, its impact won’t affect everyday citizens — who will still use crypto for cross-border transactions.

Reflecting on the recent fall of FTX, Thiago César, the CEO of fiat on-ramp provider Transfero Group said that the exchange’s fall, like in many countries around the world, has hurt confidence around centralized crypto exchanges and crypto in general. 

Transfero Group is tied in closely with the Brazilian crypto ecosystem and FTX as it was the fiat on-and-off-ramp provider for the exchange and is also the issuer of Brazilian Stablecoin BRZ, which was listed on the now-defunct exchange.

César told Cointelegraph that the collapse of the exchange had removed a “big liquidity source” from the market, as FTX was ranked within the top three in terms of trading volume. 

He also noted that uncertainty surrounding centralized crypto exchanges caused a “big outflow of funds” from exchanges in Brazil, with many looking into self-custody — estimating at least 20% of trading volume has been lost on exchanges so far.

“A lot of people are trying to even liquidate whatever positions they have in crypto and we just hold money in the bank account.”

César noted the FTX saga will make crypto investment a “harder sell” for new investors and traders.

“For the crypto investor/trader of course. It’s a harder sell now. If you go to a person who is not crypto savvy and you try to convince him to invest, especially in Brazil — the population has always been very skeptical of crypto. Now it’s harder,” he said. 

However, he notes that for people that use crypto as a means for cross-border payments or the “internationalization of money,” there will unlikely be any impact from the FTX collapse.

“A lot of the crypto volume in Brazil derives from players that are willing to exchange their local currency into an internationally liquid asset denominated in dollars. So in that sense, the market will not die down because crypto is just rails for that.”

In October, a report from Chainalysis found that remittance payments and battling inflation were two of the most significant drivers of crypto adoption in Latin America.

Related: Brazilian SEC seeks to change its role in cryptocurrency regulation

César said the FTX collapse will likely be used by local exchanges “as a lobbying tool” to push for regulations aimed at bringing international exchanges in line.

César added that these crypto exchanges had been pushing for regulation in Brazil that would “segregate” local and international exchanges by taking away international exchange’s access to their global liquidity books.

“They were proposing that regulation would enforce for example, that liquidity on the books in Brazilian reais be segregated from international books.”

César explained that such regulation would hurt international exchanges as their main advantage comes from liquid, international global books.

In a Nov. 18 report from Reuters, Roberto Dagnoni, the executive chairman and CEO of Mercado Bitcoin said crypto laws in Brazil have been “kind of dormant” during the election period but now needed priority.

“The rules that currently exist have not been applicable to some players, so they can do whatever you want,” he said.

FTX is done — What’s next for Bitcoin, altcoins and crypto in general?

 

2022 was a tough year for crypto, and November was especially hard on investors and traders alike. 

While it was incredibly painful for many, FTX’s blowup and the ensuing contagion that threatens to pull other centralized crypto exchanges down with it could be positive over the long run.

Allow me to explain.

What people learned, albeit in the hardest way possible, is that exchanges were running fractional reserve-like banks to fund their own speculative, leveraged investments in exchange for providing users with a “guaranteed” yield.

Somewhere across the crypto Twitterverse, the phrase “If you don’t know where the yield comes from, you are the yield!” is floating around.

This was true for decentralized finance (DeFi), and it’s proven true for centralized crypto exchanges and platforms, too.

Who would have known that a few ill-timed bank runs would pull down the entire house of cards by proving that while exchanges appear to have high revenue and tons of tokens on their books, many are completely unable to meet user withdrawal requests?

They took your coins and collateralized them to fund highly speculative bets.

They locked your coins in centralized DeFi platforms to earn yield, some of which they promised to share with you.

They placed user funds, along with their own reserves, into illiquid assets that were hard to convert into stablecoins, Bitcoin (BTC) and Ether (ETH) when clients and platform users wanted to access their funds.

Not your keys, not your coins.

Never has the phrase rang truer.

Let’s explore a few things that are happening in the crypto market this week.

Investors withdrew a record number of coins from exchanges to self-custody

As Cointelegraph reported earlier this week, crypto investors panic-withdrew record amounts of Bitcoin, Ether and stablecoins from exchanges.

Separate reporting cited a sharp uptick in hardware wallet sales as investors realized the importance of self-custodying their portfolios.

If the number of insolvencies and “temporarily pausing of deposits and withdrawals” messages continue to pop up over the next few weeks, it seems likely that this trend of coins leaving exchanges and popping into hardware wallets will continue.

DEXs and DeFi saw an uptick in inflows, perhaps a sign of things to come

Cointelegraph also reported on the uptick in decentralized exchange (DEX) activity and inflow to DeFi occurring concurrently with the record outflows from exchanges. After the events of the past two weeks, trust in centralized exchanges and crypto companies could be broken, and the current and next wave of crypto investors could embrace the more Web3-focused DEX and DeFi protocols.

Of course, what DeFi and DEXs need are a more transparent framework and processes that ensure user funds are safe and being used “properly.”

Related: DeFi platforms see profits amid FTX collapse and CEX exodus

A steady flow of bad news could present a nice opportunity

Currently, Ether’s price looks a bit soft from a technical analysis standpoint, and the recent news about the FTX thief holding the 31st largest Ether spot position, plus concerns over censorship, centralization, the United States Office of Foreign Assets Control enforcement on this “whale” and other Ethereum-based protocols that have exposure or bankruptcy proximity to FTX and Alameda could stir up a bit of FUD that impacts the altcoin’s price action.

Uncertainty on when the Shanghai upgrade will be enacted and investor concerns about when staked coins can actually be withdrawn are also interesting conversations that could turn short-term sentiment against Ether.

The thesis is pretty simple. ETH has held support around $1,200–$1,300 pretty well through all of the previous months of bearish market developments, but will the potential challenges mentioned above lead to a test of the level again?

Stakers are essentially spot long and earning yield, so at this juncture, opening a low-level short position with taking profits orders at $700–$600 could possibly be rewarding.

This newsletter was written by Big Smokey, the author of “The Humble Pontificator Substack” and resident newsletter author at Cointelegraph. Each Friday, Big Smokey will write market insights, trending how-tos, analyses and early-bird research on potential emerging trends within the crypto market.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Benefits of a Mezzanine Office

There are many reasons why a mezzanine office can be beneficial for your company. Adding an office to warehouse mezzanine floors can provide additional space for employees to meet and work. 

These spaces can also reduce the amount of noise made in the office or warehouse. Mezzanine offices also provide more privacy for employees and make it easier to communicate with them. 

If you want some privacy for your training, then offices on warehouse mezzanine floors are the perfect solution, especially when they develop new products or services.

What Are the Advantages of Mezzanine Offices?

A mezzanine office can be an excellent option for businesses that need to maximise their space, but aren’t sure how the additional space will benefit them.

When you have a mezzanine office, you will have the opportunity to increase your productivity. The higher vantage point can give you an advantageous view of your coworkers, so you can keep track of their work as you work on your own jobs. Additionally, the privacy and quiet of the office space allows you to focus on important, and at times urgent, tasks.

Another key benefit is that you can save money on your utilities bills as you use less floor space. When you move into a mezzanine office, you can reduce the use of other electronic appliances and essentials on lower floors. 

A Safe Space to Communicate

No matter how many floors you have in your warehouse, it’s important that the space is large enough to comfortably fit all staff members and any additional visitors. Additionally, the mezzanine space should be big enough to promote ease of movement between multiple people or machinery. 

The warehouse space should be accessible and comfortable for employees to use, both during their workday and during breaks. The space should also feel like an extension of the company’s head office, providing a place where employees can relax and connect with one another.

Size Matters

If you’re considering a warehouse mezzanine floor that fits your needs, then size is of the essence. A mezzanine office can become an essential part of your business, and a proper design can help create a more efficient and organised space. By finding the right mezzanine floor, you can make sure that your business functions smoothly and efficiently.

When choosing how big you want your office, then measure up! It’s important that you have accurate measurements of the intended size of your office. During this process, consider how many people you want to fit as well as the size of any office furniture that you may require. 

The type of flooring is another key aspect you should consider. Some popular options include rubber or carpeted floors. If you choose to use rubber or carpeted floors, be sure to measure and select the correct type of flooring for your space. 

This mid-cap technology stock epitomizes diversified growth

 

Very little technology stocks are trading at 10-year highs, but in San Jose Sanmina Corporation (NASDAQ: SANM) is one of them.

Last week, the midcap moved up after another strong quarterly report. It bowed to what was a phenomenal fiscal 2022 for the company. Earnings per share (EPS) far exceeded Wall Street expectations in all four quarters.

The resounding outperformance is in stark contrast to what has been a difficult year for technology investors. Supply chain constraints and lukewarm IT spending have left many in need of urgent medical attention.

At Sanmina, however, there is a great demand for a completely different kind of EMS.

Interest in the group’s electronics manufacturing services – printed circuit board assembly, manufacturing and testing – is growing. And the best part is, even with the US economy teetering on a recessiongrowth comes from a range of end markets.

Who are Sanmina’s customers?

As a provider of integrated electronics manufacturing solutions, Sanmina serves original equipment manufacturers (OEMs) in high-growth industries. Its customers are mainly in communication, cloudindustrial, automotive, medical and defense markets.

Even when companies target a diverse set of end markets, they often specialize in one area. That is not the case with Sanmina.

About 60% of revenue comes from outside the networking and cloud infrastructure business. Since this comprehensive segment includes industrial, medical, defense and automotive customers, there is no major industry dependency. The same applies to the level of the individual customer. Sanmina’s 10 largest customers account for less than half of its total turnover. Simply put, the company is diversified growth at its best.

Soon Sanmina will do more business in India. Last month, it finalized a joint venture (JV) agreement with Reliance Industries Limited, a multinational conglomerate based in Mumbai. The joint venture, which will begin with a $200 million cash budget, will leverage Sanmina’s expertise in electronics manufacturing and Reliance’s knowledge of the local Indian market. Given Reliance’s strong presence in the energy, retail, textile and media markets, the partnership should expand Sanmina’s scope and diversify an already diverse model.

How did Sanmina perform in fiscal year 2022?

Together, these customers generated broad-based revenue growth in the company’s recently reported fiscal year. Last week’s Street-topping Q4 results capped off a great year for Sanmina that few saw coming.

After a lesser year in fiscal 2021, revenue growth rebounded 17% to $7.9 billion. Earnings per share (EPS) growth was even stronger at 26%, a function of increased operating margin and improved scale.

It was a particularly strong performance given supply chain challenges and rising economic uncertainty. Going forward, management expects pressure on the supply chain to ease. If so, it points to an even stronger performance in the new fiscal year.

Sanmina ended the year with one of the strongest balance sheets in the technology sector. Through October 1, debt was less than two-thirds of cash. Together with $1.4 billion in liquidity, this should provide enough flexibility to pursue organic growth and additional JV opportunities.

The financial strength supported Sanmina’s ability to repurchase 8 million of its own shares in fiscal year 2022. This pushed it past the $1 billion mark in repurchases dating back to fiscal year 2014. An additional $164 million remains on current repurchase authorization, which could limit any restrictions. pressure on short-term profit-taking.

Does Sanmina Stock have more benefit?

On a 12 month basis, Sanmina is trading at 13.5x adjusted earnings. The average P/E in the electronics industry is around 19x, meaning Sanmina shares remain woefully undervalued even after rising more than 60% this year.

If the company’s P/E multiple grew to the industry average, a move justified by last year’s growth, the stock would rise above $90. This implies another 30% to 40% increase from current levels.

The stock looks even more attractive on a forward P/E basis. Wall Street analysts forecast earnings growth of 17% in the current fiscal year. This means that Sanmina’s 17% growth can be achieved for less than 12x future earnings.

Despite Sanmina’s impressive rise over the past decade, there aren’t many research firms working on the sell side. This is part of the reason why it has largely flown under the radar mega cap technology makes headlines. Those who do cover the stock tend to be bullish. In the wake of the Q4 update, Sidoti Sanmina actually upgraded to buy with a price target of $78.

For the current quarter, management led to earnings per share of $1.46 at the midpoint. This implies a growth of 35% – growth that most struggling tech companies wouldn’t mind half of.

Since growth can come from anywhere (mobile 5G networks, electric vehiclesmilitary drones, renewable energy, diagnostic imaging to name a few), look for Sanmina to hold manufacturing outperformance into 2023.

 

The Benefits of Implementing Data Governance in a Company

There are many benefits of data governance within a company. These benefits include increased access and quality, decreased costs, and compliance with data regulations. If your company does not already have a data governance program, you should consider doing so.

Improved Data Quality

Data governance is a method for organizing and enforcing data policies across an organization. It is based on company models of decision rights, accountabilities, and internal and external data standards. While companies and organizations began to value data only 20 years ago, the amount of data produced is expected to grow at 40% per year. To help keep data reliable, data governance must be implemented to ensure consistency, completeness, and accuracy. Improving data quality requires a systematic process that can address data quality issues as they arise. Data governance initiatives should be proactive rather than reactive, involving regular discussions with business stakeholders.

Increased Access To Data

A well-executed data governance program can bring measurable benefits to a company. For example, a properly-governed data store will enable knowledge workers to extract insights from various sources. Moreover, clean data will make performing critical use cases like search and rescue easier. A good data governance strategy will combine several factors, such as people and processes, to increase data access. It will also include tools to facilitate data discovery. A good data governance strategy will allow data scientists and engineers to work more effectively. In addition, good data governance in data analytics will help to reduce risk and boost innovation.

The first step of data governance is identifying the data sources and users. This way, companies can control the data and only share it with those who need it. This prevents data from becoming vulnerable and prone to hacker attacks. It is also essential to check the usage of data by employees. If they need to use data correctly, they should be revoked from access.

Decreased Costs

Data governance is a core element of a company’s data management strategy. It provides a solid data analysis and management foundation, resulting in more effective decision-making. It also improves customer satisfaction and loyalty. Data governance aims to provide a company with high-quality data that drives business performance. Data governance typically involves investments in people, processes, and technology. These investments typically include new data management software licensing costs, implementation costs, and ongoing operations costs. Managing data assets proactively to reduce costs and maximize return on investment is important. While the initial costs can be high, the benefits gained can be used to fund future investments. Companies can dramatically reduce costs by implementing a data governance strategy. These strategies include data stewardship, policy setting, and enforcement. As data usage and privacy regulations become more demanding, companies must adopt better data governance practices.

Increased Revenue

Data governance has several benefits for a company, including increased revenue:

  1. It improves the data quality and reduces duplication.
  2. It helps make better decisions with data.
  3. Data governance can help companies avoid costly mistakes by enabling better data efficiency.

While it can be difficult to implement a data governance program in an organization, there are several ways to get started. One quick way is to start small and focus on one area of business or a specific data issue. This will make the process more manageable and allow you to test different ideas and processes. You can then refine the process to make it more effective.

Data governance can also reduce the impact of a data breach. Data can help organizations make better decisions, improve operations, and build stronger customer relationships when properly managed. This can lead to increased revenue, customer retention, and market share.