As revealed in an SEC filing on Monday, Elon Musk’s car manufacturer Tesla recorded a $170 million (roughly Rs. 1,360 crore) impairment charge for Bitcoin on its balance sheet during the first half of 2022. It also netted $64 million (roughly Rs. 512 crore) in gains from certain sales of the asset.
Tesla Writes Down $170 Million in Bitcoin Impairment Charges in Q2 2022
Binance CEO Changpeng Zhao Sues Bloomberg’s Chinese Subsidiary for Defamation: Report
Binance CEO Changpeng Zhao has sued Bloomberg and its Chinese subsidiary Modern Media Company for defamation. The Chinese edition of Bloomberg Businessweek put Zhao on the cover of its 250th issue recently and controversially titled it — ‘Changpeng Zhao’s Ponzi Scheme’.
Thailand’s SEC Probing Potential Losses for Users of Crypto Platform Zipmex Users After Suspended Withdrawals
Thailand’s Securities and Exchange Commission is probing potential losses among users of crypto platform Zipmex, after the exchange temporarily suspended withdrawals last week. The SEC has asked users to submit details of how they had been affected via an online forum. Southeast Asia-focused crypto exchange Zipmex operates in Thailand, Indonesia, Singapore, and Austra…
Bitzero to Convert Abandoned US Missile Site Into Bitcoin Mining Site, Data Centre: Details
Crypto mining firm Bitzero will purchase an old US anti-ballistic missile site abandoned in the 1970s and redevelop it into a data centre to mine Bitcoin and other cryptocurrencies, according to North Dakota governor Doug Burgum. The firm intends to build 200 megawatts of data centers in North Dakota and is working on a joint venture for assembly and distribution of b…
Animoca Brands Launches DAO to Develop Metaverse Standards: Here’s How Its Different From MSF
An alliance of Web 3 companies have joined forces to create an open DAO called OMA3, also known as the Open Metaverse Alliance (OMA3). According to the group, it seeks to address key issues in the metaverse’s nascent state.
Aptos Labs Raises $150 Million in Series A Funding, Plans to Expand Staff
Aptos Labs, a blockchain start-up founded by former Meta employees, Mo Shaikh and Avery Ching, has secured $150 million (roughly Rs. 1,196 crore) in a Series A funding round. FTX Ventures and Jump Crypto led the funding round. Griffin Gaming Partners and Franklin Templeton are among other venture capital firms that participated in the round. With this, the one-year-ol…
Coinbase’s Token Listings Being Probed by US SEC for Securities Violations: Report
The US Securities and Exchange Commission (SEC) is reportedly probing crypto exchange Coinbase, a publicly-traded company it oversees, on suspicion it allowed US persons to trade unregistered securities.
BTC, ETH Retain Pumped Prices Despite Minor Dips as Crypto Chart Reflects More Reds than Greens
The prices of all major cryptocurrencies found themselves impacted by the market volatility on Tuesday, July 26. Along with BTC and ETH, Binance Coin, Cardano, and Ripple also saw losses. Only few stablecoins including USD Coin managed to reel-in gains. Owing to the present changes in the market sentiment, the overall valuation of the crypto market has also slipped be…
Voyager Digital Rebuffs ‘Low-Ball Bid’ From FTX, Alameda Ventures as Amid Bankruptcy Process
Crypto lender Voyager Digital on Sunday rebuffed a recent joint proposal from FTX and Alameda Ventures and called it a “low-ball bid dressed up as a white knight rescue”. The firm was offered a bailout plan where crypto trading firm Alameda would purchase all of Voyager’s digital assets and digital asset loans, except the loans to bankrupt crypto hedge fund Three Arro…
Study Programmes in Metaverse to Be Part of Tokyo University’s Curriculum
The University of Tokyo, or Todai, has decided to offer a list of tech-related study programs for students enrolled in high school as well as university level courses. The project will be set and monitored by Todai’s engineering vertical. The university is looking to make education accessible to everyone regardless of their genders, age, or residential localities.