Crypto industry experts are largely unfazed by Tesla’s decision to sell 75% of its Bitcoin (BTC) holdings, saying it’s a fairly typical strategy for companies to improve cash flow during economic slowdowns. On Wednesday, the electric vehicle manufacturer revealed that it had sold 75% of its Bitcoin holdings in Q2, adding $936 million in fiat to its balance sheet. During…
For many people, Bitcoin is synonymous with freedom, decentralization, independence and the future. Some consider it akin to anarchy, an online revolution that began with the minting of the first block of Bitcoin that flipped the proverbial bird at central banks and government policy makers. For governments, however, the vista is different. Generally speaking, those who govern others routinely perceive…
Singapore crypto exchange Vauld Group is seeking a moratorium against its creditors — a move that would give the troubled lender more time to restructure its business after collapsing asset prices impacted its operations earlier this month. Vauld filed an application in Singapore on July 8 seeking a moratorium order, The Wall Street Journal reported Wednesday. If granted, the moratorium…
Grayscale Investments has explained that there may be another 250 days of the current bearish crypto market, citing patterns in previous cycles. In addition, “Bitcoin is 222 days off the all-time high, which means we may see another 5-6 months of downward or sideways price movement,” the world’s largest digital asset manager detailed. Grayscale’s Crypto Market Outlook Grayscale Investments, the…
In brief Square Enix is taking a “very measured” approach with NFTs, joining Enjin to release Final Fantasy NFTs. The Polkadot-based NFTs will be paired with physical trading cards and toys, which will be released in 2023. One of the most successful video game series of all time is set to receive the NFT treatment in 2023, as Japanese publisher…
This is an opinion editorial by Roy Sheinfeld, cofounder and CEO of Breez. Although Breez often ranks highly on lists of the best “Lightning wallets,” attentive readers will have noticed that we never refer to Breez as a “wallet.” We’re not trying to confuse anyone. On the contrary, it’s the language of “wallets” in the context of Bitcoin and Lightning…
Tesla has converted approximately 75% of its bitcoin into fiat currency. The cryptocurrency sales left the electric car company holding digital assets worth $218 million. “We are certainly open to increasing our bitcoin holdings in the future,” Tesla CEO Elon Musk said, adding: “We have not sold any of our dogecoin.” Tesla Sold About 75% of Its Bitcoin Holdings Elon…
Jason Raznick, CEO of media company Benzinga, has been named to the unsecured creditor committee in the Voyager Digital bankruptcy case, according to a recent court filing. In chapter 11 bankruptcy proceedings, creditors’ committees normally consist of people and companies that have the seven largest unsecured claims against the debtor, in this case New Jersey-based crypto brokerage Voyager Digital. It’s…
Simone Mazzuca is the creator of EURST – the first representative euro stablecoin, 100% asset backed with US Dollars and live audited. EURST is providing one of the most secure and reliable stablecoin structures on the euro market to serve as a bridge to the digital economy. Mr. Simone Mazzuca is the Director and Founder of the Wallex group and…
During Today’s Tesla earnings call, Tesla CEO Elon explained the reason for the company’s sale of 75% of its Bitcoin holdings, worth approximately $936 million, as noted in its Q2 earnings report. “The reason we sold a bunch of our Bitcoin holdings was that we were uncertain when the COVID lockdowns in China would alleviate,” Musk said on the call.…
