Coinbase Inc. (NASDAQ:COIN) apologized for falsely advertising USD Coin (CRYPTO: USDC) once again and promised that it will become fully backed by cash and Treasury bills issued by the U.S. Treasury.
What Happened: According to a Twitter thread written by Coinbase's Chief Operating Officer Emilie Choi, “starting September 2021, USDC reserves will be held in cash and short-duration US government treasuries.”
“This is the approach we want for USDC reserves,” she added.
According to recent reports, Coinbase found itself amid controversy after the exchange walked back on its previous claims about the backing of the coin, admitting that it is not fully backed by United States dollars and later editing its website's description.
Choi explained that USDC has always been fully backed and guaranteed its users to redeem each token for one United States dollar.
Still, Coinbase advertised to its users — whom it sold USDC to — that the token is “backed by a dollar in a bank account.”
She admits that the firm's “language could have been clearer here.”
What Else: The Coinbase executive noted that when Circle, the firm managing USDC, released a report in May revealing that the treasury backing the tokens has switched to a “more diversified pool of investments,” the exchange “should have moved faster to update” its statements.
Hot Bank Stocks To Buy For 2023: Nustar Energy L.P.(NS)
NuStar Energy L.P. engages in the terminalling, storage, and transportation of petroleum products primarily in the United States, Canada, the Netherlands, St. Eustatius in the Caribbean, the United Kingdom, and Mexico. The company operates in three segments: Storage, Transportation, and Asphalt and Fuels Marketing. The Storage segment operates terminal and storage facilities for petroleum products, specialty chemicals, crude oil, and other liquids; and crude oil storage tanks. Its terminals also offer pilotage, tug assistance, line handling, launch, emergency response, and other ship services. The Transportation segment transports refined petroleum products, crude oil, and anhydrous ammonia. This segment operates refined product pipelines in Texas, Oklahoma, Colorado, New Mexico, Kansas, Nebraska, Iowa, South Dakota, North Dakota, and Minnesota; and owns anhydrous ammonia pipelines located in Louisiana, Arkansas, Missouri, Illinois, Indiana, Iowa, and Nebraska. The Asphalt and Fuels Marketing segment refines crude oil to produce asphalt and other refined products. This segment also purchases gasoline and other refined petroleum products for resale. As of December 31, 2010, the company had 65 terminal and storage facilities providing approximately 80.4 million barrels of storage capacity; 5,605 miles of refined product pipelines with 21 associated terminals that offer storage capacity of 4.6 million barrels, as well as 2 tank farms providing storage capacity of 1.2 million barrels; 2,000 miles of anhydrous ammonia pipelines; 812 miles of crude oil pipelines with 16 associated storage tanks comprising storage capacity of 1.9 million barrels; and 2 asphalt refineries with a combined capacity of 104,000 barrels per day, as well as 2 associated terminal facilities with a combined storage capacity of 5.0 million barrels. Riverwalk Logistics, L.P. serves as the general partner of the company. NuStar Energy L.P. was founded in 1999 and is based in Sa n Antonio, Texas.
Advisors’ Opinion:
- [By Shane Hupp]
Get a free copy of the Zacks research report on NuStar Energy (NS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Stephan Byrd]
HRT Financial LLC bought a new stake in shares of NuStar Energy L.P. (NYSE:NS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 12,350 shares of the pipeline company’s stock, valued at approximately $279,000.
- [By Ethan Ryder]
NuStar Energy (NYSE:NS) had its price target upped by Barclays from $23.00 to $25.00 in a research report report published on Wednesday morning. They currently have an equal weight rating on the pipeline company’s stock.
Hot Bank Stocks To Buy For 2023: Zomedica Corp.(ZOM)
Zomedica Corp., a veterinary health company, focuses on the unmet needs of clinical veterinarians by developing products for companion animals. The company engages in the development and commercialization of TRUFORMA, a diagnostic biosensor platform for the detection of thyroid disorders in dogs and cats, and adrenal disorders in dogs. It has collaboration agreements with Celsee, Inc. for the development and commercialization of liquid biopsy assays and related consumables for the detection of cancer in companion animals; and Seraph Biosciences, Inc. for development and commercialization of novel pathogen detection system. The company was formerly known as Zomedica Pharmaceuticals Corp. and changed its name to Zomedica Corp. in October 2020. Zomedica Corp. was founded in 2015 and is headquartered in Ann Arbor, Michigan.
Advisors’ Opinion:
- [By Louis Navellier and the InvestorPlace Research Staff]
Recently, it’s been tough to stand by Zomedica (NYSEAMERICAN:ZOM), which specializes in veterinary testing and pharmaceutical products. The price performance of ZOM stock since mid-March hasn’t been stellar.
- [By Louis Navellier and the InvestorPlace Research Staff]
Zomedica Corp (NYSEAMERICAN:ZOM) is one of the big meme stocks of 2021. Retail investors chatting up ZOM stock on Reddit’s r/WallStreetBets forum have been a big part of this stock’s story, which includes an over 1,000% run in the first six weeks of the year. That’s enough to send many serious investors scurrying. However, this is a meme stock that deserves a second look.
- [By Josh Enomoto]
On the front-facing side of things, you might not find a better no-brainer (albeit highly speculative) narrative than Zomedica (NYSEAMERICAN:ZOM), the veterinary care specialist focusing on diagnostics platforms. Previously driven by intense meme pressure, ZOM stock found itself providing blistering returns before it all went sour.
- [By Will Ashworth]
It’s been a little more than three weeks since Zomedica (NYSEAMERICAN:ZOM) reported its Q2 results. Despite reasonably healthy sales, ZOM stock gained just 14% from Aug. 11 through the end of the month.
Hot Bank Stocks To Buy For 2023: PDF Solutions Inc.(PDFS)
PDF Solutions, Inc. provides infrastructure technologies and services for the design and manufacture of integrated circuits (IC) in Asia, the United States, and Europe. It offers manufacturing process solutions that include process research and development, and process integration and yield ramp; volume manufacturing solutions; and design-for-manufacturability (DFM) solutions, such as logic DFM, circuit level DFM, memory DFM, and pdBRIX Physical IP solutions. The company also offers characterization vehicle (CV) infrastructure, which includes CV test chips, pdCV analysis software, and pdFasTest electrical wafer test system; Yield Ramp Simulator software that analyzes an IC design to compute its systematic and random yield loss; and Circuit Surfer software, which estimates the parametric performance yield and manufacturability of analog/mixed-signal/RF blocks. In addition, it provides pdBRIX platform, which includes software for identifying and developing a set of physical IP building blocks that are tailored to a given manufacturing process and target product application; dataPOWER YMS platform that collects yield data, loads, and stores it in an integrated database and allows product engineers to identify and analyze production yield issues; FDC software, which provides fault detection and classification capabilities to identify sources of process variations and manufacturing excursions by monitoring equipment parameters; and YA-FDC service and software platform that allows online modeling to create real-time virtual measurements of final product attributes during processing. PDF Solutions sells its technologies and services through direct sales force, sales representatives, and strategic alliances to integrated device manufacturers, fabless semiconductor design companies, and foundries in the microprocessors, memory, graphics, image sensor solutions, and communications segments. The company was founded in 1992 and is headquartered in San Jo se, California.
Advisors’ Opinion:
- [By Motley Fool Transcribers]
PDF Solutions Inc (NASDAQ:PDFS)Q4 2018 Earnings Conference CallFeb. 14, 2019, 5:00 p.m. ET
Contents:
Prepared Remarks Questions and Answers Call Participants
Prepared Remarks:Operator
- [By Max Byerly]
Russell Investments Group Ltd. lowered its stake in PDF Solutions, Inc. (NASDAQ:PDFS) by 73.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,102 shares of the technology company’s stock after selling 141,811 shares during the quarter. Russell Investments Group Ltd. owned 0.16% of PDF Solutions worth $600,000 at the end of the most recent reporting period.
