Author: Reuters
Tesla Inc (TSLA.O) said on Monday the fair market value of the electric-vehicle maker’s bitcoin holdings as of Dec. 31 was $1.99 billion. In its annual filing with the U.S. Securities and Exchange Commission, Tesla, which had invested $1.50 billion in bitcoin last year, said it registered about $101 million in impairment losses last year due to the value of bitcoin. A drop in the value of bitcoin resulted in the company recording losses, as the value of its holdings fell. Tesla had also briefly accepted the cryptocurrency as payment for sales of certain products. However, Tesla Chief Executive Officer Elon Musk stopped accepting…
Tlalamba, a four-year-old leopard, has achieved much in her short life. She’s queen of her mother’s old territory, borne two cubs and, so far, is the most sought-after animal on her reserve among buyers of a new project selling non-fungible tokens (NFTs) to raise money for conservation. NFTs are a form of crypto asset which exploded in popularity last year. All kinds of digital objects – from art to videos and even tweets – can be bought and sold as NFTs, which use unique digital signatures to ensure they are one-of-a-kind. Now, WildEarth, a wildlife streaming service, is minting NFTs…
Bitcoin hit its highest in two weeks on Saturday, extending the previous session’s strong gains as cryptocurrencies basked in a recovery in risk appetite and a rally in stock markets. The world’s largest cryptocurrency hit $41,983, taking gains from Thursday’s lows to nearly 16%, and marking a 27% rise from the year’s low of $32,950.72 on Jan. 24. Ether , the coin linked to the ethereum blockchain network, scaled the $3,000 level for the first time since Jan. 21. Friday’s 11%-plus was the biggest single-day gain for bitcoin since mid-June, and the first major bounce after weeks of being roiled,…
The U.S. Treasury Department on Friday issued a set of recommendations to combat illicit finance in the high-value art market and warned that the emerging digital art market, such as non-fungible tokens (NFTs), may present new risks. In a study published on Friday, the Treasury found that there is some evidence of money laundering risk in the high-value art market, but limited evidence of terrorist financing risk, the Treasury said in a statement. It said that those most vulnerable in the market are businesses offering financial services that are not subject to anti-money laundering or countering terrorism financing obligations, warning…
The Pacific nation of Palau is kicking off a digital residency scheme for anyone wishing to become a crypto-citizen. In normal times, the Pacific nation of Palau was a magnet for tourists. Palau’s population of 18,000 welcomed around 100,000 Yachties each year in search of remote un-spoilt beaches and pristine reefs. To protect the oceans for scuba diving tourists, most of Palau’s waters were designated off-limits for commercial fishing. Pre-covid, all of Palau’s eggs were in the tourism basket. Today, facing prolonged covid restrictions, that basket is empty, and Palau’s cash is drying up. Diversifying the economy without mass-tourism is a pressing priority for Palauan…
Thai power producer Gulf Energy Development Pcl expects to finalise a joint venture (JV) with the world’s biggest cryptocurrency exchange, Binance, in the second quarter this year, a senior executive told Reuters in an interview. “Once we conclude talks with Binance on business model and shareholder agreements, a JV will be formed, which will apply for the license with regulators,” Gulf chief financial officer Yupapin Wangviwat said. She expects the JV to take about six months to obtain the license for trading and then other features would follow. Cryptocurrency trading has exploded in Southeast Asia’s second-largest economy with transactions reaching…
The cryptocurrency arm of Jump Trading said on Thursday it had restored more than $320 million to crypto platform Wormhole after the decentralized finance site was hit with one of the largest crypto heists on record. In a tweet, Jump Crypto said they chose to replace the stolen money “to make community members whole and support Wormhole now as it continues to develop.” Chicago-based Jump Trading acquired Certus One, the developer behind Wormhole, in August. Wormhole, an online platform that allows the transfer of information across crypto networks, said on Wednesday it had been “exploited” for 120,000 digital tokens connected…
The U.S. Securities and Exchange Commission (SEC) said on Tuesday it had not reached any conclusion on an NYSE Arca application to list a spot bitcoin exchange-traded fund (ETF) by Bitwise Asset Management. The regulator said it would institute proceedings to decide if it could approve or reject the listing of Bitwise Bitcoin ETP Trust. The move follows a string of similar rejections by the SEC to approve an ETF that tracks the underlying digital asset. Read full story on Reuters
Since October, Facebook has renamed the company, articulated a vision of the internet where people can digitally connect through virtual-reality avatars or teleport to see places like ancient Rome, and helped trigger the metaverse investment craze. When the company, now Meta Platforms Inc (FB.O), reports fourth-quarter results on Wednesday, investors will get a new window into the financial impact of CEO Mark Zuckerberg’s current passion. Meta plans to break out the results of its augmented and virtual-reality hardware unit, Reality Labs, for the first time, an investment the company previously warned would cause a $10 billion hit to 2021 profit and…
India’s finance minister on Tuesday said the central bank will introduce a digital currency in the next financial year using blockchain and other supporting technology. “Introduction of a central bank digital currency will give a big boost to digital economy. Digital currency will also lead to a more efficient and cheaper currency management system,” Nirmala Sitharaman said on Tuesday while presenting the federal budget. India’s central bank has voiced “serious concerns” around private cryptocurrencies on the grounds that these may cause financial instability. The Indian government has also decided to levy 30% tax, the highest tax band in the country,…