Nelson Wang / CoinDesk:
Meta’s Reality Labs division posts a $3.67B loss for Q3 2022 on $285M in revenue vs. $406M est., up from its Q2 2022 loss of $2.81B on $452M in revenue — Meta’s revenues for the division came in at $285 million, down from $452 million in the second quarter.
Nelson Wang / CoinDesk:
Coinbase Q3: net revenue down 28% QoQ to $576M, net loss down 50% to $545M, subscription and services revenue up 43%, and monthly transacting users down to 8.5M — The crypto exchange’s transaction revenue fell 44% from the second quarter, however. — Crypto exchange Coinbase (COIN) …
Jordan Novet / CNBC:
IBM reports Q3 revenue up 6.5% YoY to $14.11B vs. $13.51B est., with software revenue up 7.5% YoY to $5.81B vs. $5.54B est., and lifts FY 2022 revenue forecast — – IBM beat on the top and bottom lines and raised its revenue growth forecast for all of 2022.
Nelson Wang / CoinDesk:
Genesis’ crypto lending unit, which had $2.8B in active loans in Q3, suspends redemptions and new loan originations; trading and custody units are unaffected — The unit, known as Genesis Global Capital, serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022.
Nelson Wang / CoinDesk:
Stablecoin issuer Tether claims to have reduced its commercial paper holdings to zero, replaced with US Treasury bills, after saying it would by the end of 2022 — The company has been gradually replacing its commercial paper holdings with U.S. Treasury bills.
Jennifer Surane / Bloomberg:
PayPal reports Q3 revenue up 12% YoY to $6.85B, vs. $6.81B est., and payments volume up 14% YoY to $337B, vs. $343.2B est.; stock drops 8%+ on lower FY forecast — PayPal Holdings Inc. trimmed its forecast for annual revenue amid a slowdown in spending growth on its platform. The shares fell as much as 14%.
Nelson Wang / CoinDesk:
Filings: Block.One and its CEO Brendan Blumer buy a 7.5% and 9.3% stake, respectively, in crypto bank Silvergate Capital, making Blumer its largest shareholder — The purchase makes Brendan Blumer the largest holder of Silvergate Capital. — Brendan Blumer, the founder and CEO of EOS developer Block.One …
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