Tesla, MicroStrategy, and Block’s bet on Bitcoin (BTC) led to a combined loss of $5 billion on the books in the second quarter, Bloomberg News reported on July 22. According to the report, Bitcoin’s 59% decline during the quarter led to staggering losses for these companies based on their previous holdings disclosure. MicroStrategy MicroStrategy makes…
MicroStrategy, Tesla, and other public companies holding Bitcoin face significant impairment losses as Bitcoin (BTC) closed the second quarter below $19,000. MicroStrategy BTC holding down 58% According to Bloomberg News, MicroStrategy could report a significant impairment loss of $3.4 billion due to the sharp decline in BTC prices between April and June 2022. The company…
It is no longer news that Elon Musk has acquired Twitter. But several entities and organizations have opposed the deal, including Open Markets Institute, which claims regulators can block the deal. However, the Federal Communications Commission (FCC) Commissioner Brendan Carr has responded by stating that the agency has no powers to prevent the acquisition. According…
In this year alone, the crypto adventure of the co-founder and CEO of Square and Twitter, Jack Dorsey, has been exhilarating. This time around, his payment-focused tech company, Square has released the white paper of its proposed decentralized Bitcoin exchange, codenamed as tbDEX. The whitepaper described the design philosophy of the proposed tbDEX, as one…
Jack Dorsey’s Square in its recent quarterly earnings report has revealed that the firm made $1.8 billion in Bitcoin revenue and $42 million in profits. Square’s Bitcoin quarterly revenue dips for the second time this year According to the report, the $1.8 billion Bitcoin revenue the company made within the last quarter is an 11%…
‘Dogenations’ campaign wants to raise Shiba Inu-inspired Dogecoin for homeless animals PAWS Chicago, a non-profit animal shelter organization dedicated to building no-kill animal communities, recently launched “Dogenations” and started accepting Dogecoin (DOGE), Bitcoin (BTC), Ethereum (ETH), and 36 other cryptocurrencies for donations. 2 min read →
Vitalik Buterin, a co-founder of Ethereum, in a recent interview has revealed his doubts about the plans Jack Dorsey and Mark Zuckerberg might be making about the crypto industry, as per a report on Bloomberg today. Dorsey and Zuckerberg’s crypto dream Dorsey, CEO of Square, recently revealed his plan for the leading digital asset, Bitcoin,…