Finimize - ☀️ Coinbase… did not have a good summer

Hi Reader, here's what you need to know for November 11th in 3:10 minutes.

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Today's big stories

Chinese tech giant Tencent had a mixed quarter after the Chinese government poked its nose into its affairs
Our analyst has uncovered a way to buy $1 worth of bitcoin for 85 cents – Read Now
Coinbase posted weaker-than-expected results on the back of a pretty bleak summer

Time Out

What’s Going On Here?

Tencent posted mixed results on Wednesday, as the Chinese government forces the emotionally distant tech giant to finally take on its fair share of child care.

What Does This Mean?

Like Whitney, China believes that children are our future. So in order to teach them well and let them lead the way, the country’s government banned for-profit after-school tutoring last quarter, as well as introduced stricter limits on how long they can play video games – both of which, it argued, were having detrimental effects on kids’ wellbeing.

Tencent knows how they feel: the company – which sells advertising space in its apps and online games – saw its ad revenue grow just 5% compared to the same time last year, as education companies collapsed and kids’ laser-like focus faded. And while its fintech and business services segment – which includes instant messaging app WeChat – posted strong growth, the damage was already done: Tencent’s overall revenue climbed by a weaker-than-expected 13% – the slowest quarterly growth since the company hit the stock market in 2004 (tweet this).

Why Should I Care?

For markets: China’s still on the agenda.
Most Chinese tech giants’ stocks are listed in the US or Hong Kong, so investors – nervous about government crackdowns on foreign-listed domestic companies – have been steering well clear lately. They’ve not sworn off the country altogether, mind you: data out this week showed international investors were holding around $560 billion worth of Chinese-listed stocks at the end of last quarter – 30% more than the same time last year.

Zooming out: There are bigger fish to fry.
The Chinese government’s mood probably isn’t about to improve: new data has shown that the prices manufacturers pay for materials accelerated by its fastest pace in 26 years last month, as the country continues to be rocked by power and commodity shortages. Those higher costs will probably be passed onto consumers, put a dent in consumer spending, and, ultimately, hamper the country’s economic growth.

You might also like: The 50 stocks Goldman thinks will profit from China’s crackdowns.

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Analyst Take

How To Buy $1 Worth Of Bitcoin For 85¢

Stéphane Renevier, Analyst

What’s Going On Here?

Here’s some exciting news: crypto specialist Grayscale has filed to convert its “Grayscale Bitcoin Trust” – or GBTC – into an exchange-traded fund.

But here’s some more exciting news: if you buy in now and regulators give it the go-ahead, you could make a swift 15% return on your investment.

GBTC, after all, is currently trading at a discount to the price of bitcoin. That is to say, investors are essentially paying 85 cents to hold a dollar of bitcoin.

If you’re thinking that’s not a great deal, you’d be right. But if regulators give it the nod, that situation would reverse pretty sharply.

So that’s today’s Insight: how you can buy $1 worth of bitcoin for 85 cents.

Read or listen to the Insight here

Introducing the peer-to-peer pioneer

There are a host of DeFi projects for pretty much every niche these days.

Every niche, that is, except peer-to-peer exchange.

Portal is the pioneer in the space: its DeFi platform lets you access a decentralized dark pool from your wallet, as well as track multiple blockchain assets, liabilities, and financial services.

And Portal’s on the search for backers of this $100 billion opportunity, which has already garnered $1 billion in whitelist interest.

It’s easy to see why: Portal is made up of architects from Casper Labs and Blockstream, not to mention the inventor of the very first – i.e. pre-Lightning Network – layer 2 payment channel on bitcoin.

The whitelist is only open for a few more days, so be quick: sign up here.

Register Your Interest