finance
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Elon Musk’s social media platform, X (formerly Twitter), has filed a lawsuit against Twitch, alleging that the streaming service and other companies conspired to boycott advertising on X. The amended complaint, initially filed in August, accuses members of the Global Alliance of Responsible Media (GARM) of illegally coordinating to withhold substantial advertising revenue from X.…
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Senator Cynthia Lummis has introduced the BITCOIN Act, proposing that the U.S. Treasury acquire 1 million bitcoins over five years to establish a strategic reserve aimed at bolstering the dollar and countering inflation. MicroStrategy Chairman Michael Saylor supports the initiative, suggesting that such an acquisition could potentially reduce the national debt by $16 trillion. The…
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Elon Musk, the CEO of Tesla, has successfully won the dismissal of a lawsuit that accused him and his company of manipulating the price of Dogecoin. The lawsuit, filed by a group of investors, claimed that Musk used his influence and social media presence to artificially inflate the price of Dogecoin, leading to significant financial…
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Cosmos Health Inc., a diversified global healthcare company, has announced the integration of Bitcoin and Ethereum into its treasury reserve assets. In addition to holding these digital assets, Cosmos Health is working to accommodate customers who wish to make payments in cryptocurrencies. CEO Greg Siokas stated that the company views select crypto assets as potential…
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Trump Media & Technology Group (TMTG), the parent company of Truth Social, is reportedly in advanced discussions to acquire cryptocurrency trading platform Bakkt. The Financial Times cites sources familiar with the matter, indicating that the deal would be an all-stock transaction. Bakkt, established in 2018 by Intercontinental Exchange (ICE), offers a platform for trading digital…
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In a recent critique, Bitcoin advocate Max Keiser questioned Warren Buffett’s relevance in the evolving financial landscape, highlighting the cryptocurrency’s ascent over traditional investment vehicles. In recent post Keiser remarked, “Does anyone remeber Warrne Buffet?” Bitcoin’s market capitalization has recently surpassed that of Berkshire Hathaway, the conglomerate led by Buffett. As of November 22, 2024,…
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Heather Morgan, known by her rap alias “Razzlekhan,” has been sentenced to 18 months in prison for her involvement in laundering Bitcoin stolen during the 2016 Bitfinex hack. Morgan and her husband, Ilya “Dutch” Lichtenstein, conspired to launder approximately 120,000 Bitcoin, valued at $71 million at the time of the theft and now worth over…
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Thumzup Media Corporation, a publicly traded company on Nasdaq under the ticker TZUP, has announced its decision to allocate up to $1 million of its treasury reserves into Bitcoin. CEO Robert Steele emphasized that Bitcoin’s finite supply and resistance to inflation make it a robust addition to the company’s financial strategy. The board’s approval reflects…
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Semler Scientific, a healthcare technology firm, has expanded its Bitcoin holdings by purchasing an additional 215 bitcoins for $17.7 million between November 6 and November 15, 2024. The acquisition was made at an average price of $82,502 per bitcoin, inclusive of fees and expenses. Since adopting a Bitcoin treasury strategy on May 28, 2024, Semler…
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Undoubtedly, before September of 2024, one could ascertain that Michael Saylor and his company MicroStrategy, was an absolute failure for the past 20 years or so. Ultimately the question comes down to this, can you custody bitcoin in a safer manner than MicroStrategy? They have a custody partnership with Coinbase but I suspect that they…
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The United States Department of Defense has failed its annual financial audit for the seventh consecutive year, unable to fully account for its $824 billion budget. The audit, conducted by independent auditors, revealed that the Pentagon could not provide sufficient financial data to support a clean opinion, highlighting ongoing challenges in financial management and accountability.…
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Bitcoin’s price has surpassed $90,000 for the first time, driven by market optimism following President-elect Donald Trump’s victory and his pro-cryptocurrency stance. The cryptocurrency reached a record high of $91,110, marking a 32% increase since the November 5 election. Galaxy Digital CEO Mike Novogratz suggests that if the U.S. establishes a Bitcoin reserve, the cryptocurrency’s…
