Google parent Alphabet reported higher quarterly profit and revenue, and revealed strong growth in its cloud business. The results, which beat analyst expectations, calmed some concerns about the company’s prospects that arose after weak first-quarter results. Alphabet reported $38.9 billion in revenue versus $38.2 expected, a 19% increase from the year-ago period. Net income was $9.95 billion,...
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Genesis Creditors Could Miss Out on Recent Crypto Rally
Crypto prices have risen since parts of crypto lender Genesis filed for chapter 11 bankruptcy last month, lifting the value of customers’ crypto assets stuck in Genesis accounts. That’s not necessarily good news for Genesis’ creditors, however. Creditors are worried that any repayments they get from the bankruptcy will be made in dollars, not the original cryptocurrencies,...
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