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Nubank cryptocurrency, strikes in Europe and what matters in the market


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Nubank announced on Wednesday (19) plans to launch its own cryptocurrency, which will serve as a new rewards program for its 70 million customers.

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Understand: the aim is to offer customers benefits such as discounts and perks as they accumulate Nucoins.

  • According to fintech, the idea is that in the future the token can be traded in the cryptocurrency market, as well as bitcoin and ether, for example.
  • Next month, the digital bank will select 2,000 customers to test the novelty.

Nubank’s announcement is similar to the one made by Mercado Livre in August, when it created MercadoCoin. The ecommerce company’s crypto will act as cashback on product purchases on the platform.

  • The assets can be used to pay for new purchases or traded in the Mercado Pago digital wallet. Its value started at BRL 0.50 and varies according to market supply and demand – this Wednesday, it was worth BRL 0.70.
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One foot after the other: both Nubank and Mercado Livre created their cryptocurrencies shortly after having released on their platforms the purchase and sale of the most traded cryptos, such as bitcoin and ether.

  • Rivals XP and BTG Pactual also make these transactions available on their platforms, while Itaú launched its own cryptocurrency unit in July with a focus on asset tokenization.
  • This Monday (17), Mastercard announced a tool that will allow banks to make cryptocurrency trading and custody available to their account holders.

the bets of banks and fintechs in the crypto world come precisely at a time of low prices, a sign that interest in the sector goes beyond the short-term fluctuations of this market.

Tesla cuts production target

Tesla posted a profit in the third quarter very close to the company’s record, achieved in the first three months of the year.

A revenue below projections and the abandonment of the goal of increasing vehicle production this year, however, caused its shares to fall. 5% in post-trade negotiations.

In numbers: Tesla made a profit of almost $3.3 billion in the period, indicating that the increase in the prices of its cars to accompany the increase in costs did not affect consumer demand.

  • the revenue from US$ 21.45 billiondespite being a record, came in slightly below the US$ 21.96 billion that were projected.
  • The automaker said the strong dollar, high costs with inputs and logistics, and bottlenecks at factories in Texas and Germany harmed the company’s results.

pressed: Tesla’s ability to deliver is what the market most monitors. The company said that the expectation is to end the year a little below the target of increasing its production in 50% to 2022.

  • It would need to deliver more than 1.4 million vehicles to reach the goal, but it produced about 900,000 by the third quarter.

“We hope to sell all the cars we make in the near future,” said Elon Musk, the company’s controller, noting that he doesn’t see a drop in consumer demand for his vehicles.

BRL 4.1 billion pyramid scheme is targeted by PF

An organization suspected of operating financial pyramids in more than 80 countries was targeted by the Federal Police’s La Casa de Papel operation this Wednesday.

Among the five targets of preventive arrest warrants, is musician and businessman Patrick Abrahão, husband of singer Perlla

In numbers: according to the investigation, the scheme involves 1.3 million of victims, with damage estimated at BRL 4.1 billion.

  • The Justice authorized the blocking of US$ 20 million (about R$ 105 million) and the kidnapping of money in bank accounts, real estate, cattle, vehicles, gold, jewelry, emerald mines, speedboats and crypto assets.

The group is also investigated for crimes against the national financial system, evasion of foreign exchange, misrepresentation, money laundering, usurpation of public assets, environmental crime and embezzlement.

41 search and seizure warrants were carried out, in addition to five preventive arrest warrants for people appointed as leaders of the organization.

One of them is Abrahão, Perlla’s husband, who was arrested in a luxury condominium in the west of Rio de Janeiro.

  • On his Instagram profile, with more than 3 million followers, he boasts a life of luxury, with cars and trips to Dubai and Cancún.

The blow: it is a classic financial pyramid scheme, in which new investors had to attract more people to the business, called “binary”, according to investigations.

  • Victims were lured by promises of profit of 20% per month and up to 300% per year in the cryptocurrency market.
  • The organization still had the help of a religious entity belonging to one of the leaders to attract investors.
  • The scheme would have started in 2019 and would still be in operation.

strikes in europe

Britons can go without beer for a week because of a strike of around 1,000 drivers. They are responsible for approx. 40% of product deliveries in the United Kingdom.

The shutdown, scheduled for October 31 to November 4, is expected to affect deliveries from major breweries such as Heineken, Stonegate, Admiral Taverns and Shepherd Neame to bars and other outlets.

  • The Unite union, which brings together workers, said that logistics company GXO’s proposal for a 5% wage increase had been rejected and that employers were demanding a reduction in sick pay.
  • A spokesperson for GXO said the US-based company’s offer was “significantly above” 5% and did not affect sick pay.

In Francestrikes affect more categories and have greater adhesion in the transport sector.

  • The final straw was the government’s call for employees who were paralyzed to return to work at refineries to alleviate fuel shortages.

Fearing a new “yellow vest” protest in 2018, French President Emannuel Macron approved measures to limit the rise in energy prices, leaving the country with the lowest inflation rate in the euro zone -6%.

  • But the strike for wage increases in refineries caused a shortage of fuel, which led the government to order the return to work of these employees.

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