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Category Archives: Finance

Tesla factories are 'gigantic money furnaces', says Musk

Tesla factories are ‘gigantic money furnaces’, says Musk

Tesla CEO Elon Musk gave an interview to the Tesla Owners Silicon Valley YouTube channel where he hinted that the shortage of electronic components is costing the company many billions of dollars. “Right now, both the Austin [US] and Berlin [Germany] factories are giant money

Sumitomo Mitsui Trust, one of Japan's leading banking institutions, will enter the cryptocurrency custody business.

Japan’s biggest bank enters into the cryptocurrency custody business

Sumitomo Mitsui Trust, one of Japan’s leading banking institutions, will enter the cryptocurrency custody business. The company announced that it will launch a company in partnership with Tokyo-based exchange Bitbank. Being 15% owned by Sumitomo Mitsui Trust and 85% by Bitbank, the company was named

Bill Gates defends 60% tax for billionaires

Bill Gates defends 60% tax for billionaires

The founder of Microsoft answered several questions in an open forum on Reddit and one of the most commented questions was about the cryptocurrency market. Bill Gates created an “Ask me Anything” (AMA) thread on the Reddit forum. The billionaire, who already offered hundreds of

Bitcoin and Ethereum are not currencies, says Sweden's Central Bank

Bitcoin and Ethereum are not currencies, says Sweden’s Central Bank

The Swedish Central Bank argues that cryptocurrencies lack sufficient stability to function as a store of value, medium of exchange or unit of account. Following the many monetary authorities who have been dismissing bitcoin’s potential as cash, the Riksbank, the Central Bank of Sweden, explained

Central Bank of Argentina bans banks from trading bitcoin

Central Bank of Argentina bans banks from trading bitcoin

The Central Bank of Argentina banned this Thursday night (5) the offer of crypto-assets, including Bitcoin, by financial institutions in the country. The Argentine BC published a statement entitled “BCRA discourages the offer of crypto-assets by the financial system”, but the body of the text

Big banks want to track people's bitcoins

Big banks want to track people’s bitcoins

Traditional banks are hiring services that allow you to track your bitcoins and investing in on-chain analytics technology. There is a very fine line between the benefits and harms of the ease of tracking your bitcoins through technologies that use on-chain analytics to monitor the

Central Bank of Russia continues tests Digital Ruble

Central Bank of Russia continues tests Digital Ruble

The Central Bank of Russia emphasized the importance of moving forward with its digital ruble project. According to a statement by a representative, the Russian monetary authority has no intention of delaying the tests, although not all invited banks are ready to participate. The Central