MicroStrategy co-founder Michael Saylor believes his firm will remain an enticing way for investors to gain exposure to Bitcoin (BTC) regardless of any future exchange-traded fund approvals. He has also confirmed his firm’s intention to continue adding more Bitcoin to its balance sheet, including with the potential proceeds of a planned $750 million share sale. Speaking to Bloomberg on Aug.…
Artificial intelligence could eventually have a bigger financial impact on the American economy than electricity and personal computers, according to economists at investment banking giant Goldman Sachs. In an Aug. 1 investment report, Goldman Sachs economists Joseph Briggs and Devesh Kodnani predicted that AI could pull as much as $200 billion in global investments by 2025 — with half of…
A social network turned Web3 creators portal that managed to work with some of the biggest names in entertainment announced that it was shutting down today. Nifty’s was backed by preeminent businessmen Mark Cuban and Joe Lubin in 2021 with a $10 million raise that included investors like Coinbase Ventures and Dapper Labs. Thanks to a deal with entertainment giant…
In an astounding medical first, researchers have used AI-powered brain implants to restore movement and sensation for a man who was paralyzed from the chest down. Keith Thomas, 45, became a quadriplegic after a tragic diving accident damaged his C4 and C5 vertebrae in 2020. But thanks to pioneering work by scientists at Northwell Health’s Feinstein Institutes, Thomas can now…
Australia’s financial regulator has sued trading platform eToro over one of the leveraged trading products it offered to retail investors, alleging inappropriate screening tests caused thousands of users to lose money. The Australian Securities and Investments Commission (ASIC) said on Aug. 3 it commenced Federal Court proceedings over eToro’s contract for difference (CFD) product for targeting too wide a market…
This story comes from GG. Your Web3 Gaming Power-Up Discover GG Video game developer Inworld AI has closed its latest round of funding, bringing the company’s total valuation to $500 million, the startup said on Wednesday. Earlier reports put the amount raised at $30 million, but a spokesperson for Inworld AI told Decrypt in an email the figure is actually…
Left-leaning lawmakers have urged the IRS and the Treasury to publish tax reporting guidelines for cryptocurrency brokers—and then vigorously enforce them. Democratic Senators Elizabeth Warren (D-Mass.), Bob Casey (D-Pa.), and Richard Blumenthal (D-Conn.) have joined Bernie Sanders (I-Vt.) in signing a letter Tuesday warning the heads of the two agencies that time was running out for them to set proposed…
Robinhood released its second-quarter results, achieving profitability for the first time since becoming a public company, despite a drop in revenue in the second quarter of 2023. According to its quarterly report released on Aug. 2, Robinhood’s revenue from cryptocurrency transactions shrank by 18% to $31 million. Other transaction-based revenues dropped as well, including options, which decreased 5% to $127…
When Coinbase reports its second-quarter earnings on Thursday, it could mark a significant shift for America’s leading crypto exchange: transaction fees could stop being its top money-maker, supplanted by its proximity to USDC stablecoin issuer Circle. When the company debuted on the Nasdaq in April 2021, Coinbase’s business was heavily reliant of transaction fees gleaned from traders using its exchange.…
KPMG has released a report on Bitcoin and ESG (environment, social and governance) issues. The professional services firm, one of the world’s Big Four, found that Bitcoin “appears to provide a number of benefits across an ESG framework.” Looking at each component of ESG separately, the report noted that emissions is a more significant indicator of environmental damage than energy…
