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
Sam Bankman-Fried, founder and CEO of cryptocurrency exchange FTX, revealed that he could donate up to $1 billion to help influence US presidential election campaigns in 2024. “I would say over $100 million. As for how much more of it, I don’t know. It really
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
As cryptocurrency markets face possibly another “crypto winter”, some of the industry’s most famous critics have taken the opportunity to add fuel to the fire. One of them is the president of the European Central Bank (ECB). Speaking on the Dutch show “College Tour” on
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
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
US exchange Coinbase said in a document sent to the US Securities and Exchange Commission that if the exchange goes bankrupt, users could lose all funds and will be treated as “unsecured creditors”. In an earnings report published Tuesday, Coinbase says it holds $256 billion
The International Monetary Fund (IMF) criticized the Central African Republic’s decision to adopt bitcoin as its official currency, as El Salvador did. The IMF insists that adoption poses legal economic challenges not just for the country but also for the region. The IMF said the
Gucci will start accepting cryptocurrency payments at five American stores later this month, the cities that will receive the initial tests are New York, Los Angeles, Miami, Atlanta and Las Vegas. The brand also plans to extend the move to all of its North American
Apple released its financial results for the first quarter and, during this presentation, the CEO Tim Cook was asked about the technology’s strategy regarding the acquisition of other companies. “We are always looking for companies to buy. We have acquired many small companies and we