Do Traders Think Sea Ltd (SE) Can Keep Climbing Tuesday?

Overall market sentiment has been down on Sea Ltd (SE) stock lately. SE receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator.

Sentiment Score - ,bearish

Sea Ltd has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on SE!

What is Stock Sentiment?When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock’s trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.InvestorsObserver’s Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price. What’s Happening With SE Stock Today?Sea Ltd (SE) stock is trading at $77.25 as of 10:18 AM on Tuesday, Jun 28, a gain of $2.19, or 2.92% from the previous closing price of $75.06. The stock has traded between $74.62 and $78.09 so far today. Volume today is less active than usual. So far 1,414,666 shares have traded compared to average volume of 7,811,271 shares. To see InvestorsObserver’s Sentiment Score for Sea Ltd click here.More About Sea LtdSea operates Southeast Asia’s largest e-commerce company, Shopee, in terms of gross merchandise value and number of transactions. Sea started as a gaming business, Garena, but in 2015 expanded into e-commerce, which is now the main growth driver. Shopee is a hybrid C2C and B2C marketplace platform operating in eight core markets. Indonesia accounts for 35% of GMV, with the rest split mainly among Taiwan, Vietnam, Thailand, Malaysia, and the Philippines. For Garena, Free Fire was the most downloaded game in January 2022 and accounted for 74% of gaming revenue in 2021. Sea’s third business, SeaMoney, facilitates e-wallet payments on Shopee and offline and provides other digital financial services such as credit lending. Click Here to get the full Stock Report for Sea Ltd stock.

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Source: https://www.investorsobserver.com/news/stock-update/do-traders-think-sea-ltd-se-can-keep-climbing-tuesday-2

Interest Rates Bolster EU On-Demand Pay Growth

The on-demand economy is growing, and it’s no longer limited to mobility, food and entertainment services like Uber, DoorDash and Netflix.

According to Andrzej Nowak, CEO and founder of Poland-based FinTech Flexee, growing inflation and sky-high interest rates on small, short-term loans are driving on-demand pay growth in Europe, where more and more employees are in need of solutions that give them flexible access to their earned wages.

It’s a service his company provides to employees in its home market of Poland, where he says cash-strapped employees could use an affordable, cost-effective alternative to the expensive small loans they take out while waiting on their next paycheck.

“For example, if you want to take a 200 euro or dollars loan, you will have to pay about 25% interest on that provision. [Roughly] $150 million of those non-banking loans are issued every month on the market, indicating that there is a huge demand from employees’ perspective,” Nowak told PYMNTS in an interview.

To meet that demand, the Flexee app gives employees access to part of their future wages on any day of the month, and upon request, the funds are instantly transferred to their account. Workers can also track how much earned money they have accumulated and the amount they can already pay out, making it easy to budget and plan out expenses ahead of time.

The Warsaw-based FinTech, founded in 2020, is now looking to expand, having recently raised $3 million that Nowak said will be used as a working capital to finance payouts while it looks to secure more funds from financial institutions in the future.

See also: PYMNTS Intelligence: Offering Gig Workers Competitive Payment Options

It’s Like Buy Now, Pay Later

According to Nowak, demand for on-demand salary payment is rising in Europe, and the company’s research shows that in the last year alone, 40% of employees in Poland needed funds before they received their next paycheck.

“They were searching for a small amount, $200 in average, and they were searching for it [barely] seven days before they got their salaries,” he noted.

In terms of sectors driving demand, he said the conversion rate with insurance companies is about 20%-30%, whereas it’s much higher with gig economy companies — up to 50% or half of their employees are using the service, with the conversion rate increasing the longer the company has been working with Flexee.

Related: Report: Freelance Tech Talent Follows Faster Digital Payments

This is because the product is still a new concept to some employers and employees: “We need to educate the market — on one side, let employers know that a solution like salary on-demand exists, and on the other also educate employees that they can pay out their salaries earlier in the month,” he explained.

Moving forward, he said the goal is to expand beyond Poland to the Central and Eastern Europe (CEE) region, growing its user base from 20,000 to 100,000 by the end of this year as part of plans to build a strong European player that can attract funding from major private equity funds and foreign investors.

“A nice comparison is the buy now, pay later sector which is booming in Europe. People love the service because at the end of the day, they are getting [a cheaper alternative to traditional credit],” Nowak said. “It’s the same in the salary on-demand space because together with employers, we are giving employees access to wages at zero cost so that they will no longer have to use short-term loans.”

Sign up here for daily updates on all of PYMNTS’ Europe, Middle East and Africa (EMEA) coverage.

To meet that demand, the Flexee app gives employees access to part of their future wages on any day of the month, and upon request, the funds are instantly transferred to their account. Workers can also track how much earned money they have accumulated and the amount they can already pay out, making it easy to budget and plan out expenses ahead of time.

Source: https://www.pymnts.com/news/financial-inclusion/2022/interest-rate-hikes-boost-demand-for-on-demand-pay/

LUNA Crypto News: Anonymous Takes Aim at Do Kwon After Terra Collapse

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Stacked Terra (LUNA) crypto tokens. Terra Classic Price Predictions.

Source: David Sandron / Shutterstock.com

The Terra (LUNA-USD) network is doing quite well today, up more than 20%. The gains are seemingly out of nowhere and they are causing a stir. But, there’s a piece of LUNA crypto news that’s drumming up even more chatter: Hacktivist group Anonymous is taking on Terra founder Do Kwon.

Do Kwon has found himself at odds with many of his once-devout followers. Since Terra’s collapse in mid-May, many Terra users have fled the project completely. Some of those who have stayed have been at odds with Kwon and Terraform Labs. For example, Kwon pushed forward with a hard fork to solve the issue despite disagreement in the Terra user base.

Lots of these users have come around, embracing the Terra Ecosystem Revival Plan. This plan was similar, creating a new Terra through launching an entirely new chain.

The weeks since launching this chain have been quiet. Terra Classic (LUNC-USD) remains far from its old prices, and its complementary stablecoin, TerraClassicUSD (USTC-USD) is nowhere near its $1 peg. The new network, meanwhile, saw a fast nosedive which brought prices more than 80%.

LUNA Crypto News: Hackers Promise to Uncover Truth

Both Terra and Terra Classic are starting to reverse their bad luck today. Indeed, both the new LUNA crypto and the LUNC coin are big gainers on Monday. LUNA prices are up more than 20% while LUNC prices are up nearly 60%. The price momentum follows a big piece of LUNA crypto news, pitting Do Kwon against one of the internet’s most infamous hacktivist groups.

The group, Anonymous, is well known for taking on Big Tech and the government. In its nearly 20-year history, the group has perpetrated high-profile data leaks targeting the likes of the Koch brothers, Mastercard (NYSE:MA) and even the Russian government.

Today, the group is exciting crypto investors as it identifies Do Kwon himself as its newest target. A YouTube video addressed to Kwon details the reasons behind the new campaign. The video points out unavoidable macroeconomic factors that have driven the recent crypto bear market. Yet, it also puts much of Terra investors’ losses on the shoulders of Kwon himself.

There are a number of rumors about Do Kwon springing up in the face of Terra’s collapse. As mentioned, the Terra revival plan was not very popular among community member at first. As rumors now suggest, Kwon was using his own secret stash of funds to manipulate the governance proposal and pass the plan.

These rumors come alongside allegations that Kwon was secretly behind another failed stablecoin project. Anonymous is now looking to bridge together all of these details. The group says it is working to uncover all details of Kwon’s crypto history which might not yet be public.

The post LUNA Crypto News: Anonymous Takes Aim at Do Kwon After Terra Collapse appeared first on InvestorPlace.

Do Kwon has found himself at odds with many of his once-devout followers. Since Terra’s collapse in mid-May, many Terra users have fled the project completely. Some of those who have stayed have been at odds with Kwon and Terraform Labs. For example, Kwon pushed forward with a hard fork to solve the issue despite disagreement in the Terra user base.

Source: https://styles.markets.businessinsider.com/news/stocks/luna-crypto-news-anonymous-takes-aim-at-do-kwon-after-terra-collapse-1031552567?op=1

Why Cruise Line Stocks Dropped Today

What happened

Shares of cruise line stocks had a rough start to the week after a Wall Street analyst downgraded expectations because of the risk of a recession. Shares are trading lower for all of the major cruise lines despite the stock market rising slightly in morning trading.

As of 11:00 a.m. ET, Carnival Corporation (CCL -2.77%) is down 2.9%, Norwegian Cruise Line (NCLH -2.65%) is down 3%, and Royal Caribbean Cruises (RCL -3.42%) has fallen 3.5%. The stocks were down as much as 6.2%, 6%, and 6.8%, respectively.

So what

The biggest news today was Stifel Nicolaus analyst Steven Wieczynski lowering earnings estimates and the price target for Carnival. Adjusted EBITDA expectations dropped from positive $103 million in 2022 to negative $244 million and, in 2023, fell from $5.0 billion to $4.16 billion. Wieczynski’s stock price target was also reduced to $20 per share from $30.

It wasn’t really anything new that drove the estimate or price target change but the reality that a recession is likely in the near future. The market seems to be pricing in an economic slowdown of some sort, and with Carnival’s shares trading between $10 and $11, the thought was to bring expectations in line with reality.

Not surprisingly, related cruise line stocks followed Carnival lower in trading today. Carnival is the biggest cruise line, so it’s natural that this will pull the entire industry down.

Now what

It’s hard to see how even the 2023 adjusted EBITDA estimate is possible given the current state of the cruise industry. You can see that debt piled up during the pandemic, and operations still haven’t gotten to the point that they’re generating positive cash flow.

CCL Total Long Term Debt (Quarterly) Chart

CCL Total Long Term Debt (Quarterly) data by YCharts.

Despite the drop in price for cruise line stocks, it’s hard to argue there’s much value for investors. Even in an optimistic environment, these companies will have a hard time paying down debt, and eventually, that debt will need to be refinanced, likely at a higher rate than they got during the last three years.

I don’t see a reason to jump into cruise line stocks today, and I do see continued pressure ahead for the industry. But now, it won’t just be pressure on the stocks but operational pressure from the economy and falling spending as prices rise. That doesn’t put these companies in a strong position at all, which is why I would stay away.

Cruise line companies need to answer how they’re going to survive before investors should think that they can in any way thrive.

Source: https://www.fool.com/investing/2022/06/27/why-cruise-line-stocks-dropped-today/

Top 5 cryptocurrencies to watch this week: BTC, UNI, XLM, THETA, HNT

Quick Summary

Although Bitcoin is struggling to form a bottom, altcoins are on a roll and the current price action could benefit UNI, XLM, THETA and HNT.

If buyers drive the price above $6.08, the bullish momentum could pick up and the UNI/USDT pair could rally to $8.

Contrary to this assumption, if the price turns down from $1.55, it will suggest that bears continue to defend the resistance aggressively.

Article Details

Author / Journalist: Cointelegraph By Rakesh Upadhyay

Category: Crypto

Topics: Stellar Theta Network Uniswap Markets Bitcoin Price analysis Helium

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-26, 20:42:06

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Reading Time: 9 minutes read

Article Length: 1507 words

Coverage Area: United States

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News ID: 14672

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Source: https://beamstart.com/news/top-5-cryptocurrencies-to-watch-16562758408092

France’s central bank says users have more trust in banks than cryptocurrencies – WEF22

France central bank governor François Villeroy de Galhau has suggested that the recent happenings in the cryptocurrency market characterised by massive sell-offs have pushed people to trust more in banks than digital currencies.

Speaking during a session at the World Economic Forum on June 26, Villeroy pointed out that the shift might be due to the nature of private cryptocurrencies that he said don’t foster trust. Consequently, he noted that citizens might seek to align with products that promote trust, like central bank digital currencies (CBDC).

According to the governor, cryptocurrencies are unreliable because they lack an entity that is responsible for their value. In this line, Villeroy noted that the trust issues would likely accelerate the development of CBDCs.

“In recent weeks, citizens have lost trust in cryptos, but more than in central banks without any doubt <…>Nobody is responsible for the value of cryptos and it must be accepted universally as a means of exchange,” he said.

Trust in banks despite high inflation

Interestingly, the official maintained that the trust still exists in banks despite most central banks being blamed for the skyrocketing inflation.

During the session, Villeroy stressed that there is a need for central banks and the private sector to work together in designing CBDCs. He suggested that banks guarantee trust while the private sector comes with the much-needed technology.

Previously, the governor hailed Bitcoin for introducing innovative technology, but the institution has maintained a sceptical approach towards cryptocurrencies.

Market correction

Notably, the crypto market has been trading in the red zone in 2022, with Bitcoin leading in the losses. The flagship cryptocurrency is currently struggling to sustain its price above $20,000.

However, the market has made slight gains aiming to reclaim the $1 trillion market capitalisation, while Bitcoin’s value has surged at least 1% in the last 24 hours to trade at $21,400 by press time.

Besides the collapsing prices, the market has also been hit with controversies like the Terra (LUNA) ecosystem crash that resulted in significant losses for investors.

The incident has raised questions over the triggers for the collapse. For instance, founder Do Kwon is facing allegations of fraud in the collapse.

Watch the full interview below:

Justinas Baltrusaitis

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Justinas Baltrusaitis

Justin crafts insightful data-driven stories on finance, banking, and digital assets. His reports were cited by many influential outlets globally like Forbes, Financial Times, CNBC, Bloomberg, Business Insider, Nasdaq.com, Investing.com, Reuters, among others.

“In recent weeks, citizens have lost trust in cryptos, but more than in central banks without any doubt <…>Nobody is responsible for the value of cryptos and it must be accepted universally as a means of exchange,” he said.

Source: https://finbold.com/frances-central-bank-says-users-have-more-trust-in-banks-than-cryptocurrencies-wef22/

As #cryptocurrencies Reel Under the Global Downturn, Chinese State-run Newspaper Economic … – Latest Tweet by IANS India | 📰 LatestLY

The latest Tweet by IANS India states, ‘As #cryptocurrencies reel under the global downturn, Chinese state-run newspaper Economic Daily has warned investors that the price of leading cryptocurrency #Bitcoin is “heading to zero”.’

Socially Team Latestly| Jun 25, 2022 04:42 PM IST

As #cryptocurrencies reel under the global downturn, Chinese state-run newspaper Economic Daily has warned investors that the price of leading cryptocurrency #Bitcoin is “heading to zero”. pic.twitter.com/SW0crrq6UC— IANS (@ians_india) June 25, 2022

(SocialLY brings you all the latest breaking news, viral trends and information from social media world, including Twitter, Instagram and Youtube. The above post is embeded directly from the user’s social media account and LatestLY Staff may not have modified or edited the content body. The views and facts appearing in the social media post do not reflect the opinions of LatestLY, also LatestLY does not assume any responsibility or liability for the same.)

Source: https://www.latestly.com/socially/india/news/as-cryptocurrencies-reel-under-the-global-downturn-chinese-state-run-newspaper-economic-latest-tweet-by-ians-india-3871059.html

Cryptocurrencies in focus: This is how Bitcoin, Ethereum & Co. move in the morning|

The Bitcoin price rose in the morning. As of 09:41, Bitcoin gained 1.00 percent to $21,477.71. Yesterday the rate was $21,265.25.

Meanwhile, Bitcoin Cash is showing a plus. Compared to the previous day ($ 115.05), it is up 0.43 percent to $ 115.55.

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In addition, the Ethereum course is falling. As of 9:41 a.m., Ethereum is down -0.06 percent to $1,231.90, down from $1,232.70 the day before.

Meanwhile, Litecoin is trading at $56.98. Compared to the previous day ($56.13), this is a gain of 1.52 percent.

Ripple is also moving sideways. At 9:41 a.m., the rate was set at $0.3713. The day before, Ripple was trading at $0.3683.

Cardano is also moving sideways. At 9:40 a.m., the rate was set at $0.5048. The day before, the Cardano rate was $0.5013.

Meanwhile, Monero is up 0.15 percent to $126.98. The day before, Monero was worth $126.78.

In addition, IOTA is moving sideways. At 9:40 a.m., the rate was set at $0.3115. The day before, the IOTA rate was 0.3079 US dollars.

In the meantime, there are hardly any rashes to be seen at Verge. After being $0.0033 the day before, the Verge rate is quoted at $0.0033 at 09:41.

In the meantime, there are hardly any rashes at Stellar. After reading $0.1283 the previous day, Stellar price is quoted at $0.1292 at 09:41.

In the meantime, hardly any rashes can be seen with NEM. After being $0.0432 the day before, the NEM rate is quoted at $0.0441 at 09:40.

Meanwhile, the Dash rate is rising. Dash is up 1.26 percent from $51.96 the previous day to $52.62.

Meanwhile, the NEO course is rising. NEO is up from $9.713 the previous day to $9.794 (0.84 percent).

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Source: https://taketonews.com/cryptocurrencies-in-focus-this-is-how-bitcoin-ethereum-co-move-in-the-morning/

Polygon (MATIC) Rises after Carbon Neutrality and Coinbase News

Polygon (MATIC) price has increased by over 30% in the past few days. Within a period of 24 hours, the token experienced an increase in price of 26%. As of now, Matic is trading at $0.5037 per coin according to CoinMarketCap’s data.

Investors in Matic have been relieved by the recent rise in price, with Matic trading at 83% of its all-time high, and still losing value.

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Impact of Carbon Neutrality

WazirX Trade Desk shared a note today, touting Polygon (MATIC)’s change to carbon neutrality. This had led to a surge in demand for MATIC, leading the price up by 30%. Resistance is expected at around the $0.73 level.

In an official blog post, the company explains how they were able to retire $400,000 of carbon credits that offset the entirety of CO2 debt accumulated by the network since inception.

Polygon co-founder Sandeep Nailwal said, “Polygon is always on the forefront of green business. They lead their industry by converting to carbon neutrality and moving towards becoming a net positive for the environment.”

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Coinbase on-chain Polygon Support

Customers will now be able to convert fiat currency to cryptocurrency and deposit the new currency in their Polygon or Solana wallet. Coinbase is adding MATIC and SOL to their listings, which are the native currencies of Polygon and Solana, respectively.

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Coinbase will start processing the Polygon and Solana cryptocurrency on several exchanges, along with the company’s first supported fiat currency, announced by them in a blog post update.

Coinbase has announced that they will start to offer ETH, MATIC, and USDC on Polygon. They will also be providing USDC on Solana over time. The exchange added that they’re working on adding more tokens and networks. They said all qualified Coinbase users will soon be able to transfer ETH, MATIC, and USDC from Polygon and Solana from the coming month.

It can be expensive to use Ethereum for every transaction, which is driving some people away from the system. Someone sending a small amount of crypto from Coinbase to their wallet will have to pay over $10 in gas fees, Coinbase has mentioned. It can be expensive to get a larger amount of crypto out of the system, too. There’s a cost of over $100 in “gas” that some people need to pay.

Coinbase is making site upgrades and coming up with new features to separate itself from the competition in the bear market. This change would be adding a percentage system that will post your gains on investments, Binance recently announced that Bitcoin trades are now 0%.

Web3 is difficult to access, as it’s not standardized and can be hard to move crypto from one network to another. Though people are interested in Web3, they don’t know how to navigate it.

Coinbase users can convert their fiat to cryptocurrencies. Polygon is an encrypted registry for experimental blockchain assets, and Coinbase users now have easy access by converting to an available cryptocurrency on Coinbase.

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The Polygon (MATIC) price trend can be attributed to a large number of whale transactions over the last six weeks.

As the top cryptocurrencies struggle to move higher, the global cryptocurrency market cap has now fallen to around $900 billion. Bitcoin is trading below $21,000.

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Source: https://insidebitcoins.com/news/polygon-matic-rises-after-carbon-neutrality-and-coinbase-news

Clippers Shut Down Kyrie Irving Trade Rumors

PLAYA VISTA — The Los Angeles Clippers wrapped up a rather quiet 2022 NBA Draft by selecting Moussa Diabate 43rd overall with their lone draft pick. The 2022 NBA Draft marked the first time since 2014 that the franchise did not make a trade on draft night. While they weren’t really involved in any draft trade rumors, their name has been throw around in trade talks involving Brooklyn Nets guard Kyrie Irving.

Over the last couple of days, the Clippers have been linked to Irving by both ESPN’s Adrian Wojnarowski and The Athletic’s Shams Charania. Irving has currently reached an impasse with the Nets in contract negotiations, and if the two sides can’t agree on a deal, the electric scoring guard is reportedly eyeing a handful of teams in potential trade scenarios.

The Los Angeles Lakers and New York Knicks were initially listed as potential trade destinations for Irving alongside the Clippers should he request a trade. Wojnarowski reported that aside from the Lakers, Knicks, and Clippers, the Miami Heat, Dallas Mavericks, and Philadelphia 76ers are also among Irving’s list of destinations.

During his media availability following the 2022 NBA Draft, Clippers president Lawrence Frank was asked about players the team could potentially sign or trade for, as well as how those deals are evaluated beforehand. For full context, here’s the exact question, the complete answer from Lawrence Frank, as well as a video of the answer below.

Reporter: “With any free agency or trade possibilities moving forward, where do you rank/weigh variables such as leadership qualities and availability history?”

Lawrence Frank: “Yeah, I think you look at it all. And you start first with the question: How does this player’s skill sets with the group? Does it enhance the group? Does it help connect the group? Is it a young, emerging player that may have a pathway to play? Is it a veteran who provides a skill set that maybe we need? Is it a player that has unbelievable basketball character, and yet has great self-awareness and knows where they are at at their stage?

So I think you really, really study it, and I mean, any time you put a player in the locker room, whether it’s through the draft, free agency, trades, it is a statement to your team what you think of them, right, because that is their sanctuary.

So in terms of basketball leadership it is very, very important to understand the basketball character of the player.

So basketball character may be a little bit different than what you hear of in terms of character. Like basketball character is, like, can you be counted on every single day to do what you do at the highest level, and are you — how committed are you though those habits

The bond that you form with your teammates, like that’s part of basketball character. Like, can you be the same teammate when things are going bad for you as well as when things are going good for you?

And I think all those things are leadership skills. Innately, regardless of the types of players, your best players are always your leaders one way or the other because that’s what the other player is going to look to. We are really, really fortunate in that our two best players really, really, really enjoy each other. Like they have a great bond with each other, which is, I won’t say unique, but it doesn’t happen everywhere.

Those guys set a great tone of, we work, that’s what we do. We work. There is not a lot of talking in terms of hyperbole. We are about our work.

And we have an unbelievable head coach in Tyronn Lue who connects with all the guys and brings everyone together. People use buzzwords like ‘culture.’ It’s all about your people. Your people create your culture, and so yeah, we look at all those things and try to study, ‘Okay, if we are going to bring this player in the locker room, how does it fit?’

We are also very much involved in that process, T-Lue, our best players and Steve [Ballmer], and make sure everyone is comfortable with who we are putting in that locker room.”

“I think you look at it all… Basketball character is like can you be counted on every single day to do what you do at the highest level, & how committed are you though those habits.”

Lawrence Frank on looking at availability/leadership qualities in potential trades. #Clippers pic.twitter.com/Wlbt79XxPU

— Tomer Azarly (@TomerAzarly) June 24, 2022

With these comments, among others from the night, Lawrence Frank essentially confirmed that the Clippers aren’t interested in a trade for Kyrie Irving at the moment. The team has long been focused on improving on the margins and running it back. A roster-changing move like a potential Kyrie Irving trade doesn’t appear to be something the team is interested in barring an offer they simply can’t refuse.

For over a year, the Clippers have been convinced they can win a championship with their current core when healthy. They went out and acquired Norman Powell and Robert Covington in a heist of a trade with the Portland Trail Blazers at the 2022 trade deadline. They feel now, more than ever, ready to compete for a championship with their mix of experienced veterans and young players. While Irving is a supremely talented player, he comes with a hefty price tag and a dangerous track record.

On the flip side, the Irving situation has continued to appear to be a public leverage play, with Kyrie looking to create options for himself in trade situations in an attempt to put pressure on the Brooklyn Nets to give him the deal he desires. Irving has until June 29 to decide on the $36.9 million player option he has for the 2022-23 NBA season.

In addition to that leverage Irving is trying to muster up, multiple reports stated that Kevin Durant is eyeing the situation and considering his own options. At the end of the day, losing Irving could also mean losing Durant, and that’s something Brooklyn absolutely cannot afford.

Lastly, the Nets traded seemingly all of their picks to the Houston Rockets in the James Harden trade, while a few are pick swaps. Yet another reason Brooklyn will likely cough up the long-term deal for Irving, allowing he and Durant to continue chasing a championship:

The Brooklyn Nets current future draft situation is… Pheww.

They owe A LOT of picks to the Houston Rockets. pic.twitter.com/nnhRz8688J

— Tomer Azarly (@TomerAzarly) June 23, 2022

The Clippers will continue to monitor the trade market and keep an eye on what happens moving forward. At this stage, however, the team’s highest priorities are to re-sign Nicolas Batum and Isaiah Hartenstein in free agency.

NBA, NBA Draft, Pistons, Jaden Ivey, Russell Westbrook, Michael Jordan, Ja Morant, Dwyane Wade

Source: https://clutchpoints.com/clippers-news-la-indirectly-shuts-down-kyrie-irving-trade-rumors/