Affirming Crypto Transactions, Yellen Says Uncle Sam is Broke.
Affirm is upping its game and now the company is allowing users to make crypto transactions.
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What’s keeping your Wednesday busy? Here are a few things you need to know before U.S Markets open.
Affirm The Greenlight.
Affirm Holdings Inc [NASDAQ: AFRM], one of the listed payment services providers said on Tuesday that it plans to allow customers to buy and sell crypto. Affirm during a presentation on Tuesday on the company’s website said they will issue a debit card and allow customers to buy and sell crypto directly from savings accounts.
With the new crypto offering, the company’s clients will be able to buy and sell digital currencies such as Bitcoin, Ethereum, Dogecoin, Cardano e.t.c directly from their app. Affirm said it is currently engaging the New York Digital Investment Group on the offering.
Following the news, the company’s shares were up 3.6% at $119.25 per share. We will continue monitoring this to see if it will affirm its position on the gainer’s spot.
What do we think?
What do you think champ? Well, this is good news for us, too bad for China! Affirm has in recent weeks been on the good side of the news, the buy now pay later company got into an agreement with Amazon and has also been on the offensive of shoppers and app users.
This is a game changer for the company and could see their revenues rally higher.
Affirm is however tasked with a challenge as Mastercard, one of the largest global payment service companies also declared it would venture into the BNPL.
The U.S is Broke!
U.S Treasury Secretary Janet Yellen said on Tuesday that a government shutdown is imminent if the U.S Congress does not approve a proposal to raise the debt ceiling.
On Monday, a bill to raise the borrowing limits by the government failed to pass the Senate’s 60-vote threshold, with Republicans in the upper chamber of Congress voting to reject the measure. A subsequent attempt in the Senate to quickly approve a debt-ceiling suspension on Tuesday also failed.
So, is it ending in a government shutdown, we have seen such incidences in the past U.S administrations and this could mean bad for wall street investors and the Fed that has been trying to control the free-fall inflation.
Nation Media Group Plc [NSE: NMG]
The buyback offer by NMG officially which was being done at a price of Kes 25.00 per share officially came to a close on Friday 24th September and today, NMG has issued the results of the buyback.
NMG managed to get an 82.5% success rate in East Africa's first listed company share buyback program.
So, what does a share buyback mean to NMG shareholders? Well, less liquidity on the stock, since NMG will hold the shares as treasury shares.
This now leaves NMG shareholders with only 190 million shares tradable on the Nairobi Securities Exchange.
NMG has closed today’s trading at Kes 25.00 per share, showing quite some signs of stability
Are you buying more for less or less for more? Let us know on the Hisa App.
Disclaimer: This article does not constitute any investment recommendations. Investors and the general public are advised to do their own research before making any investment decision..