MicroStrategy took a non-cash digital impairment charge of $917.8 million in the second quarter of 2022, according to its Q2 2022 earnings call on Tuesday. An impairment charge describes a drastic reduction or loss in the recoverable value of an asset. In the case of MicroStrategy’s Bitcoin holdings, the impairment charge reflects the decline in the price of Bitcoin compared…
MicroStrategy, the software intelligence firm famously bullish on Bitcoin, announced on Tuesday that its CEO Michael Saylor will step down from his current position to assume the new role of executive chairman, effective on August 8. Phong Le, the company’s president, will take on Saylor’s current position. The move seeks to better separate business concerns as Saylor will head MicroStrategy’s…
Binance’s U.S. platform is delisting crypto token amp after the Securities and Exchange Commission (SEC) declared it a security. Another crypto exchange, Coinbase, disagreed with the regulator, arguing that the token is not a security. Binance Delists AMP ‘out of an Abundance of Caution’ Binance’s U.S. exchange (Binance US) is taking action to ensure that crypto tokens the U.S. Securities…
Yet another crypto firm has divulged its exposure to Terra. Coinshares reported a loss of 2.4 million pounds (nearly $3 million at current prices) in the quarter ending June 30—its first negative quarter since going public in March 2021—due to its TerraUSD (UST) holdings. Some 15.3 million pounds in revenue was offset by 17.7 million pounds in UST. The London-based…
Remember EthereumMax, that cryptocurrency briefly shilled by a handful of rich celebrities and athletes? Well, at least nine investors certainly do—and they’re seeking payback from those celebs, including Kim Kardashian, in a class-action lawsuit. Billionaire socialite Kim Kardashian is still battling the lawsuit, which alleges she promoted the “pump and dump” token. On Friday, her lawyers filed a motion in…
Bitcoin maximalist Michael Saylor has announced that he will step down as the chief executive officer of MicroStrategy, the business intelligence firm he helped co-found in 1989. In a Tuesday notice on its second quarter earnings for 2022, MicroStrategy said Saylor would be assuming the new role of executive chair at the company, while president Phong Le will become CEO.…
Cloud software company MicroStrategy today announced that Michael Saylor, a Bitcoin advocate who has served as the company’s chief executive officer since 1989, will step down as CEO and transition to a new role of executive chairman. Phong Le, the company’s president, will assume the role of CEO. This story is developing and will be updated. Stay on top of…
On August 2, the Atlanta-based crypto payment services provider Bitpay announced that it has expanded its crypto asset support with two different crypto assets. Bitpay revealed the company has integrated apecoin and euro coin into the firm’s platform and the luxury retailer and designer Gucci has announced it will be the first merchant to accept apecoin through Bitpay. APE and…
Digihost, a United States-based cryptocurrency mining company, has announced plans to move part of its fleet from New York to Alabama in an effort to lower energy costs. In a Tuesday announcement, Digihost said its 55-megawatt (MW) facility in Alabama — which the company acquired in June — will host some of its crypto miners from New York, leading to…
Zipmex is re-enabling withdrawals for 100% of user funds stored in its Z Wallet—but only for a select few altcoins. In a detailed statement released Tuesday, the South Asian cryptocurrency exchange said it will make available all users’ SOL balances today, all XRP balances on Thursday, and all ADA balances on August 9. All three assets are currently top 10…
