Author: Reuters
NYDIG said on Tuesday it raised $1 billion in a funding round led by venture firm WestCap with participation from existing investor Bessemer Venture Partners, valuing the bitcoin company at more than $7 billion. The company, a subsidiary of Stone Ridge, operates a full-stack bitcoin platform which delivers the cryptocurrency across industries including financial technology, insurance and banking firms. A surge in the value of digital currencies and increased backing from major companies have helped companies in the sector to command sky-high valuations in recent months, even as regulatory scrutiny intensifies. The company’s existing investors who participated in the latest…
Meta Platforms Inc (FB.O), the owner of social media network Facebook, is behind a $60 million deal to acquire the trademark assets of U.S. regional bank Meta Financial Group (CASH.O), spokespeople for the companies said on Monday. The deal underscores how valuable the Meta name has become for the technology giant, which is betting that its focus on the metaverse – shared digital spaces accessed via the internet through an array of devices – will pay off handsomely in the coming years. Meta Financial had said in regulatory filing on Monday that a Delaware company called Beige Key LLC agreed to acquire…
Tesla Inc (TSLA.O) chief Elon Musk said on Tuesday the electric carmaker will accept dogecoin for merchandise on a test basis.”Tesla will make some merch buyable with Doge & see how it goes,” Musk said in a tweet. Dogecoin jumped 24% to $0.195 following the news. Tesla sells merchandise such as apparel, belt buckle, mini models of its vehicles, quad bike ‘Cyberquad’ for kids and ‘Cyberwhistle’ modeled after its much-awaited Cybertruck. Tesla had earlier said it would stop accepting bitcoin for car purchases, less than two months after the company began accepting the world’s biggest digital currency for payment. Musk, a prolific user…