DD
MM
YYYY

CATEGORIES

PAGES

DD
MM
YYYY

spot_img

CATEGORIES

PAGES

Home Blog Page 4263

Reminder: Tekedia Capital Business Update is Tomorrow (Sat, April 1 2023)

By
Ndubuisi Ekekwe
-
0

These days, our extremely busy Tekedia Capital Syndicate members do not even have time to read emails. So, since they are always here, I want to drop the message besides what our team had already done: tomorrow is Tekedia Capital Business Review (HI 2023). We’re going to look at all elements of our business.

Topic: Tekedia Capital Business Update
Date: Saturday, April 1, 2023
Time:  3.30 – 5.30pm WAT
Venue: Zoom (link in the board) https://lnkd.in/eY3YuCtZ

Welcome and thank you all for funding the FUTURE.

Virgin Orbit Failing As SpaceX Continues To Consolidate This Emerging Sector

By
Ndubuisi Ekekwe
-
0

“Unfortunately, we have not been able to secure the funding to provide a clear path for this company. We have no choice but to implement immediate, dramatic, and extremely painful changes. This would be probably the hardest all-hands that we have ever done in my life” – Dan Hart, CEO of Virgin Orbit.

Yes, Richard Branson’s Virgin Orbit, an aircraft engineering company, has run out of money and new investors are not joining the party. Consequently, the company has fired most of its workers. The stock of the SPAC-company has moved into a deeper junk status.

Operations at Virgin Orbit, which were put on hold two weeks ago while the company sought a financial lifeline, are winding down in a more permanent way. CEO Dan Hart announced at an all-hands meeting Thursday that the rocket maker had been unable “to secure the funding to provide a clear path for this company” and would cease operations “for the foreseeable future,” CNBC reported, citing an audio recording of the meeting. Hart said that around 90% of the staff, or approximately 700 people, will be laid off, while about 100 employees will keep their jobs.

A Virgin Orbit rocket had suffered a mid-flight failure in January, crashing into the ocean and thrusting the company’s financial viability into question.

Virgin Orbit has furloughed most of its staff and put operations on hold for a week as it tries to secure more funding, CNBC reports, citing anonymous sources. The rocket-building firm told affected employees they would likely receive an update on the pause around the middle of next week; the furlough is said to be unpaid, though workers can use PTO. Virgin Orbit shares were already on a downward trajectory throughout 2022, but the company hit more trouble after its last mission failed in January.

Elon Musk. Elon Musk. Elon Musk – how many times have I called you? SpaceX is causing troubles for many space-focused companies right now. When there is a clear category-king, it is hard for investors to believe in anything else! Products win markets, and SpaceX has won this thing.

Richard Branson-Owned Company Virgin Orbit Plans to Lay Off Nearly All of Its Workforce

Richard Branson-Owned Company Virgin Orbit Plans to Lay Off Nearly All of Its Workforce

By
Ojukwu Emmanuel
-
0

Aircraft engineering company Virgin Orbit which is owned by British entrepreneur and business magnate Richard Branson has recently revealed plans to lay off nearly all of its workforce making about 85 percent.

In a US regulatory filing, Virgin Orbit disclosed that it made the decision in order to reduce expenses in light of the company’s inability to secure meaningful funding.

Virgin Orbit CEO Dan Hart, disclosed that the company has ceased operations for the foreseeable future which is coming weeks after the company halted its operations in an attempt to bolster its finances.

In his words,

“Unfortunately, we have not been able to secure the funding to provide a clear path for this company. We have no choice but to implement immediate, dramatic, and extremely painful changes. This would be probably the hardest all-hands that we have ever done in my life”.

Hart further disclosed that the layoff will affect every department in the company, adding that laid-off employees will be provided with a severance package which entails a cash payment, an extension of benefits, and support in finding a new position with a direct pipeline set up with sister company Virgin Galactic for hiring.

Virgin Orbit estimated that the move will incur aggregate charges of approximately $15 million, consisting primarily of $8.8 million in severance payments and employee benefits costs and $6.5 million in other costs primarily related to outplacement services and WARN Act exposure.

Following the news of its proposed layoff which has visibly not gone down well with investors, Virgin Orbit which is a publicly traded company has seen its shares decline to more than 44%. Last year, the company’s shares were valued at $7.59, but following the recent close of the market, its shares were just worth $0.34.

Founded in 2017, with its Headquarters in Long Beach, California, Virgin Orbit had more than 300 employees led by CEO Dan Hart, a former vice president of government satellite systems at Boeing. The company from which it was spun off, Virgin Galactic, continued to focus on two other capabilities which include human suborbital spaceflight operations and advanced aerospace design, manufacturing, and testing.

Virgin Orbit is a company within the Virgin Group that provided launch services for small satellites. The company was formed as a spin-off of Richard Branson’s Virgin Galactic space tourism venture to develop and market the LauncherOne rocket, which had previously been a project under Virgin Galactic.

It would be recalled that in 2020, during the peak of the pandemic, Virgin Orbit announced it partnership with the University of California Irvine and the University of Texas at Austin in a new venture to build simplified mechanical ventilators, specifically bridge ventilators for partially recovered patients and patients not in intensive care, as it sought to address the global shortage of ventilators.

On December 30, 2021, Virgin Orbit underwent a SPAC merger with NextGen Acquisition Corp and became a publicly traded company (symbol VORB) on the NASDAQ stock exchange.

Two Bear Market Cryptocurrencies You Should be Accumulating: Binance Coin (BNB) And Uwerx (WERX)

By
TI Partners
-
0

A cryptocurrency’s value can be impacted by a variety of variables. These consist of consumer demand, legislative modifications, technology advancements, and world economic situations.

Nevertheless, cryptocurrencies have drawn a lot of attention recently and have the potential to upend established financial institutions. When thinking about investing in cryptocurrencies, it’s crucial to exercise caution because there are dangers and uncertainties involved.

Why is Binance Coin (BNB) falling though it is considered to be a reliable project? 

Binance Coin (BNB) is a cryptocurrency developed by Binance, a popular cryptocurrency exchange. BNB was initially created as a way to fund the development of Binance and has since become a widely-used cryptocurrency in its own right.

The Binance Coin (BNB) price is currently $316.70, representing a 0.40% decrease in priceover the past 24 hours as of 31st March 2023.

Binance Coin (BNB) is known for being a highly reliable and safe coin on the cryptocurrency market. It is well-regarded in the crypto community and is considered to be a trustworthy project with the potential to transform the cryptocurrency industry. Binance Coin (BNB) reached an all-time high of $686.31 on May 10, 2021, but the price has been in decline for the majority of the time since, until recently.

When compared to other leading cryptocurrencies, Binance Coin (BNB) is a strong option with a strong track record and various uses on the Binance platform. On the other hand, compared to Binance Coin (BNB), Uwerx is a project that has tangible benefits linked to a real world, high growth industry that has shown stability during volatile and adverse market conditions. To put it simply, Uwerx has the potential to completely transform the freelance industry.

Uwerx (WERX): The Most Promising Crypto Presale Right Now

Freelancing platforms like Upwork have revolutionized the way businesses find and hire skilled professionals, but they come with their own set of drawbacks – high fees for freelancers and a lack of transparency being among the most significant. Uwerx aims to address these issues by creating a decentralized platform based on the Polygon network.

Uwerx is an upcoming global freelance platform built on the blockchain that aims to transform the freelancing industry through the use of blockchain technology. The project plans to create a decentralized platform for freelancers and businesses to connect and engage in transactions, with the goal of providing greater transparency, trust, and security.

One of the main features of Uwerx will be its use of blockchain technology, which allows for numerous competitive advantages over traditional freelancing platforms, such as direct connections between users without the need for intermediaries. This decentralized approach offers several benefits, including lower fees (a 5% flat fee compared to the 20% fees charged by traditional freelancing platforms), greater transparency as intellectual property records are stored on the blockchain, increased trust and security, and protection of intellectual property rights.

Overall, Uwerx aims to be a leading player in the freelancing industry, offering a more efficient and transparent platform for freelancers and businesses to connect and engage in transactions.

Uwerx (WERX) Price Prediction

WERX’s current presale price of approximately $0.005 has the potential to increase significantly in the coming years. By the end of 2023, analysts expect WERX to surge to a value of around $1.60, with an average value of $2.8 for the year 2024. Analysts also predict that the currency has the potential to increase by an impressive 8,500% in the future. InterFi Network and Solidproof have both completed audits of the project and liquidity will be locked in for 25 years after the presale ends. We believe this is definitely one you do not want to miss out on, we highly recommend checking them out, at least giving the white paper a read.

 

Presale: invest.uwerx.network

Website: www.uwerx.network

Telegram: t.me/uwerx_network

Twitter: https://twitter.com/uwerx_network

NEO (NEO) & Synthetix Network (SNX) Plunge, Uwerx (WERX) Can Defy The Bear Market

By
TI Partners
-
0

The cryptocurrency market bear market has been hard on particular sectors and investors looking for a rebound should avoid projects which have tough competition. NEO (NEO) is a project that is looking to be a smart contracts provider. Synthetix (SNX) on the other hand, is a project that is targeting the decentralized finance sector, but it is also saturated. In this article, we highlight the outlook for those two, but also talk of Uwerx which some analysts think will see 6,000% gains.

NEO (NEO) Struggles in the Background

NEO (NEO) has fallen in the bearish market from $25 to the current price of around $12.00. The project has been around for a long time, founded in 2014, but is now lacking mainstream attention. NEO (NEO) is offering smart contracts which put it up against some big competition. It also offers oracles, where Chainlink is the big name.

NEO (NEO) was once around the top ten or twenty crypto coins, but it has now slipped to number 58. The project struggles with a lack of mainstream attention, and it is hard to see that change unless developers bring something revolutionary to the table. Investors should look elsewhere for projects that operate in a niche area without competition.

Synthetix (SNX) Suffers in DeFi Downturn

Synthetix (SNX) has seen its price drop from $7.00 to under $2.40 as the project suffered in the decentralized finance (DeFi) downturn. Once the world’s central banks started aggressively raising interest rates, the market for yields on risky crypto projects was rattled. As deposits left, we also saw the collapse of the Terra UST stablecoin and its LUNA project.

Crypto projects like Synthetix (SNX) need to see deposits return, but that will be hard when investor confidence is hurt after the collapse of FTX and other projects. A recent upgrade for Synthetix (SNX) was an upgrade to its governance model. The V3 changes applied to Sythetix (SNX) will effectively make it easier for the project to see changes approved with fewer votes after previous issues. Analysts believe Synthetix (SNX) could do well in the next bull run and see its price rise to the region of $3.

Uwerx (WERX) Presale Can Rally Further than SNX and NEO

Uwerx is a project on presale that can certainly outperform Neo (NEO) and Synthetix (SNX). Neo (NEO) is not seeing mainstream plaudits, while Synthetix (SNX) will have to wait for confidence to recover in the DeFi sector.

Both of these coins also operate with stiff competition. Uwerx will be targeting a niche area and will have a first-mover advantage as it seeks to bring freelance work to the blockchain. That is a fast-growing sector and the ledger can provide benefits for workers and employees.

Uwerx will also slash fees for freelance workers, and it will also highlight the potential for increased security for employers. Data can be stored on-chain, such as resumes and work examples. That will also see the potential for both parties to hold power over their intellectual property and data.

Uwerx has already passed its audit with InterFi Network and Solidproof. The team has also locked in liquidity for 25 years after the presale concludes. The team has also gone to the extent of renouncing contract ownership before listing on a centralized Exchange.

At its current price of just $0.005, Uwerx represents an amazing opportunity, and we believe this very well could be a future blue-chip cryptocurrency obtainable at an extremely good price, by getting in early.

 

Website: www.uwerx.network

Presale: invest.uwerx.network

Telegram: https://t.me/uwerx_network

Twitter: https://twitter.com/uwerx_network

1...4,2624,2634,264...7,971Page 4,263 of 7,971

© Tekedia. All rights reserved.

Term & Privacy

© Tekedia. All rights reserved.

Term & Privacy