Tesla — a top 10 company in the Fortune 100 that is run by one of the world’s wealthiest people, Elon Musk — transferred $1.5 billion of its treasury cash into Bitcoin (BTC) in early February. Musk’s Bitcoin purchase startled traditional investors, who now had to understand how their investment in Tesla would relate to Bitcoin. Currently, much of Tesla’s revenue comes from selling surplus renewable energy credits, or RECs, which will dry up in the next several years as competing automakers produce their own zero-emissions vehicles and build up RECs with states that require them. In Tesla’s filing with …
In the frenzy of a bull market where new projects are popping up daily and social media users scour their feeds to try and catch the next moon coin before it pumps and dumps, it can be a challenge to find projects with long term viability that also have significant upside potential. One token that has undergone several significant price breakouts in 2021 is Syntropy (NOIA), a project focused on transforming the public internet into a secure, user-focused platform with built-in encryption and other performance-enhancing features. Data from Cointelegraph Markets and TradingView shows that the price of NOIA has skyrocketed …
The United States Securities and Exchange Commission’s chairperson Gary Gensler announced this month that the crypto industry should not escape the purview of the regulator. He highlighted that decentralized finance (DeFi) trading and lending protocols need particular attention when it comes to investor protections. Regulation can extend into a menu of options that covers custody, reporting, counterparty verification and asset classification and issuance. Reports are surfacing that people are waiting with bated breath on how the SEC will regulate the DeFi industry, but Germany's Federal Financial Supervisory Authority, also known as BaFin, has found a way to apply existing securities …
This weekly roundup of news from Mainland China, Taiwan and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Huobi Asset Management is looking to be the Grayscale of Asia with the launch of four cryptocurrency-related tracker funds. The funds include a Bitcoin Fund, an Ethereum fund, a multi-asset basket of digital currencies, and a private equity fund for mining businesses. The aim is clearly to entice major institutional investors into the space with a product that feels familiar. The fund and asset management company is set …
Yat Siu of Animoca Brands Yat is the executive chairman and co-founder of Animoca Brands, which delivers digital property rights to the world’s gamers and internet users, thereby creating a new asset class, play-to-earn economies and a more equitable digital framework contributing to the building of the open Metaverse. “2021 was the year of NFTs, and in the second half of the year, we saw a growing emphasis on GameFi. This trend will continue well into 2022. Real mass adoption of DeFi will happen via GameFi, which will explode in growth during 2022 as the potential for mass financial inclusion …