The most recent company to jump on the crypto craze is KODAK. The camera company announced yesterday that they would be launching a cryptocurrency and platform that uses blockchain technology. KODAKCoin and KODAKOne sent the stock soaring but left investors wondering, is the investment worth the risk?
Thomas Smith is a professor at Emory University. Smith says the current crypto craziness is reminiscent of the dot-com bubble. While the Internet remained, many of the original companies faltered and failed. Smith feels crypto could potentially face a similar fate.
That being said, Smith notes how positive this crypto decision was for Kodak. A positive for Kodak's rollout has been the name recognition of the photo company.
Smith says that one of the buy-ins that could majorly help KODAK is their mining technology. One of the major expenses in mining cryto currencies is the electricity costs and Smith explains that Kodak seems to have that covered.
The Energy Department is making a push to strengthen the U.S. battery supply chain, announcing up to $3.5 billion for companies that produce batteries and the critical minerals that go into them.
Ed Egilinsky, managing director and head of sales and distribution & alternatives with Direxion, joined Cheddar News to discuss how bond traders are reacting to the latest consumer price index data and how they're positioning portfolios ahead of next week's release of Nvidia's earnings. Egilinsky also discussed some of the other bigger-cap companies, including Alphabet, Amazon and Apple.
Facebook and Instagram will require political ads running on their platforms to disclose if they were created using artificial intelligence, their parent company announced on Wednesday.
