Dear Bankless Nation, We’ve got a special issue for you today, unpacking a particularly exciting development from a massive crypto powerhouse. We’ve got a lot of details — and, of course, lots of bear and bull takes � – Bankless team � Immutable is powering the next generation of web3 games ✨ Bankless Writer: Jack Inabinet Graphic by Logan Craig Feeling blue balled, anon? CT was captivated with blue dot fever after Coinbase posted a cryptic short video designating TODAY as the big day. Optimism even joined in on the fun! Optimism (✨�_�✨) @optimismFNDtybg 5:54 PM ∙ Feb 22, 20232,242Likes478Retweets All day yesterday, CToors read between the lines, with some imagining they had discovered the legendary Arbitrum airdrop! CC2 @CC2Ventures@PC_PR1NCIPAL Might be reaching and left-curving it hard but: Optimism = Red� Arbitrum = Blue� tybg = Thank You Based God � jumps into the air [dropping], while � congratulates/thanks its closest competitor [tybg due to more TVL]. olimpio @OlimpioCrypto�� �✨ What’s going on @coinbase @optimismFND @arbitrum? https://t.co/1OkYdEd9la 6:33 PM ∙ Feb 22, 2023 I’m here to inform you that these theories are not only wrong, they’re completely off- base ! Okay, so what is happening then? Source: Coinbase Coinbase […]

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JHVEPhoto It is not often I find myself buying US technology stocks, but the collapse in Google’s (NASDAQ: GOOG )(NASDAQ: GOOGL ) valuations makes a compelling case for a long position, particularly on a relative basis. After a sharp fall in equity prices and continued share buybacks, the market cap of Google has fallen by 41% from its 2021 peak. Google Market Cap (Bloomberg) The trailing PE ratio has fallen from a peak of 33x at the peak to just 18.9x, a level that was last seen in 2012. Google now trades at a steep discount to the overall market, particularly on a free cash flow to enterprise value basis, which puts Google’s valuation discount to the Nasdaq 100 at almost 50%. The sheer size of the company means future earnings growth will almost certainly be much lower than they have been in the past, but this size also comes with safety. This, together with the strong net debt position, suggests Google should perhaps be trading at higher valuations relative to the NDX and there is significant scope for relative outperformance over the coming years. On a trailing PE basis, Google now trades at a 28% discount to the […]

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Former U.S. Ambassador to China Terry Branstad said the Iowa Legislature must walk a “fine line” with bills that would restrict investments by Chinese and Iowa governmental entities. The Iowa House and Senate are moving to ban various forms of investment between the state and the People’s Republic of China. Examples of restrictions include the ownership of real property by Chinese nationals and investment of public and state board of regents funds in companies that are owned or controlled by the Chinese military or government. Iowa and China have a long, storied connection stretching back to the mid-1980s, when then-governor Branstad and then-provincial official Xi Jinping met during a trip to study American agriculture. It has continued since then. “One of the things I did as governor is I traveled the world to try to not only market our products, but also to encourage investment,” Branstad said. “I think it’s a fine line the Legislature needs to thread, to try to protect our interests, but not be so restrictive as to prevent economic development opportunities that will create good jobs in Iowa and, of course, China is a little different than some of the other ones… The big challenge […]

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Over the course of 2022, public asset classes experienced a “valuation reset,” or a market correction. We saw valuations move materially lower over the last year, with bond valuations resetting the most on the back of rates rising from 0% to 4.5% through 2022 (Source: Bloomberg, iCapital Investment Strategy, as of January 12, 2023). Equities also reset lower and at current, do not appear as expensive as they were before (Source: Bloomberg, iCapital Investment Strategy, as of January 9, 2023). This current dislocation in the public equity markets will continue to impact private market valuations in the coming quarters, presenting an attractive opportunity for investors to take advantage of the reset in valuations in the private equity space. Given the timing and information lag inherent in private markets, this dynamic has not yet been fully realized at the deal level, but further contraction in multiples is expected. While this may lead to multiple compression in existing portfolios, a valuation reset may create an attractive buying environment. Historically, private markets take six to 12 months to fully reflect the valuations environment in the public markets. We are in the midst of this private markets valuation correction, and the pricing expectations […]

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STRATMOR Group report says lenders can partner with wealth managers for mortgage business. Mortgage lenders searching for new business could find it by partnering with wealth managers and private bankers who serve high net worth (HNW) borrowers — but only if they are willing to meet exacting standards. That’s the takeaway from a report published by the STRATMOR Group in the February issue of its Insights Report. Written by STRATMOR Group Principal Jennifer Smith, it outlines how mortgage lenders can find success with this business segment, although it may require more effort than typical mortgage transactions. “Although the mortgage transaction is just that, a transaction, the savvy lender who has the chops to work with a HNW borrower and wealth manager or private banker understands that the mortgage is one piece of a bigger, and more lucrative, relationship,” Smith said. “Treating the client very well with the intent to foster a great relationship with the client’s wealth manager can pay off handsomely.” Smith said that wealth advisers who have an in-house lending option often do not want to refer mortgages to them. Instead, many advisers prefer to direct clients to a mortgage broker or other external contact — but […]

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With the help of decentralised renewable energy (DRE) technologies which are capable of mitigating intermittent electricity problems and introducing mechanisation, the rural women will be able to improve their productivity, according to the ‘Unlocking Sustainable Livelihood Opportunities for Rural Women’ report conducted by the Powering Livelihoods — a CEEW and Villgro initiative. A recent report conducted by the Powering Livelihoods — a CEEW and Villgro initiativ– has highlighted that a market opportunity worth USD 50-billion exists for clean energy-powered livelihood appliances to boost India ‘s rural economy, especially among women. In India, more than 75 per cent of all female workers are employed in agriculture and agri-allied industries such as food processing and livestock. With the help of decentralised renewable energy ( DRE ) technologies which are capable of mitigating intermittent electricity problems and introducing mechanisation, the rural women will be able to improve their productivity, according to the ‘Unlocking Sustainable Livelihood Opportunities for Rural Women’ report. The report showcases several models to mainstream women in tech-enabled livelihood opportunities using distributed renewable energy-powered technologies as a case study. "Powering Livelihoods has helped more than 13,000 end-users using programme-supported DRE livelihood technologies, out of which more than 10,400 (80 per […]

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Ushered into the tax code under the 2017 Tax Cuts and Jobs Act, Qualified Opportunity Zone Funds (“QOF”) provide investors with an incredibly compelling combination of tax benefits for those with realized capital gains. This unique combination of benefits may help to generate tax, financial planning and investment alpha in a singular solution. While the tax tail should never wag the dog, it is critical for a financial professional to understand how the combination of QOF benefits, when applied appropriately, can be a significant differentiator for high-net-worth (“HNW”) clients as a holistic solution. Three Questions To Consider Assuming one likes the underlying investment and believes it is a suitable part of a diversified portfolio, one should consider the following: 1. When facing a capital gains tax liability, is it valuable to defer recognition of all or part of that gain until December 31, 2026, and therefore provide time to put strategies in place to proactively plan for and minimize it? 2. When thinking about how to reinvest that realized capital gain, is it attractive to allocate all or part of that capital to a structure that may have the opportunity to grow free of future taxation? 3. When thinking […]

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Economists expect the United States Core Personal Consumption Expenditure to have risen by 0.4% in January. Shoppers’ adjustments to rising prices imply a lower outcome. A small sign of slower inflation may trigger profit-taking on US Dollar longs. Robust Personal Income and Personal Spending figures would help stocks, also weighing on the Greenback. It ain’t over until the Federal Reserve (Fed) gets its favorite inflation figure – and any 0.1% can make a difference. The Personal Consumption Expenditure (Core PCE) report is published after the Consumer Price Index (CPI) one, this month on Friday, February 24 at 13:30 GMT. Nevertheless, PCE is what the world’s most powerful central bank targets – especially the core figure. Core PCE and the accompanying Personal Income and Personal Spending reports may turn into a US Dollar downer. Here are three reasons why. 1) High PCE inflation expectations may lead to disappointment Economists expect Core PCE to come out at 0.4% MoM in January, above 0.3% reported in December. These estimates are based on the upbeat Core CPI report, which showed an increase of 0.4%. Core PCE has been more stable than Core CPI: Makes sense? Not exactly. The Personal Consumption Expenditures formula is […]

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Crushbank co-founder and chief technology officer David Tan believes companies in the channel should leverage the benefits of ChatGPT instead of turning a blind eye to it. “Any MSP should be looking at it and using the language capabilities today in interesting and diverse ways,” he told CRN. “This way they can start to understand what the technology does, the limitations and the opportunities.’ Tan is no stranger to artificial intelligence. In fact, he welcomes it. “I have a computer science background, I started as a developer,” he said. “I just started playing with AI when the technology came along using my coding background.” As he now heads up Syosset, New York-based software vendor Crushbank, he’s built AI products on IBM Watson, Microsoft Azure and OpenAI. But now, he’s working with ChatGPT to leverage AI for the channel. “The OpenAI piece is something that we’re testing right now, building full-blown chatbots essentially the same way ChatGPT works,” he said. “Your customers can start asking questions like, ‘I just got a new iPhone, how do I set it up?’” While still in its infancy, ChatGPT has sparked many conversations in the channel with some saying it’s a hacker’s dream and […]

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The Greek Quick-Service Brand Expands Outside of Home Market with First Location in Arizona Gyro Shack Boise, ID ( RestaurantNews.com ) Gyro Shack , the Greek quick-service food concept specializing in convenient service of authentic food, announces their national franchise opportunity. The brand has recently seen the increase in demand for their food, and looks forward to opening their first location outside of their home market of Idaho, in Tucson, Arizona in March of this year. Gyro Shack is looking forward to bringing their healthy, convenient Greek food to Tucson and throughout the United States. Seth Brink, President of Gyro Shack is excited to bring the flavors of Gyro Shack to communities around the nation. “It’s important that communities have access to different types of cuisines, and that they are accessible and convenient,” said Brink. “Gyro Shack provides this convenient access to Greek food, making it healthier and more diverse than the traditional food that you would receive through a drive-through.” Gyro Shack strives to provide incredible products and service to customers, but also provides the same level of care to its partners and franchisees. The brand is a franchisee-focused franchisor and strives to create an environment that cultivates […]

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