In a bid to increase its institutional clients’ exposure to crypto, U.S. asset manager Fidelity has decided to enable Ethereum (ETH) trading starting October 28, according to a memo sent out by the company. Fidelity’s institutional clients will be enabled this month to buy, sell, and transfer ether, according to the memo whose contents were...
Facebook-owner Meta recorded a loss of over $3.5bn in the third quarter of this year, as the company continues to burn cash on its new Metaverse-related initiative. Overall, Meta saw its revenue fall 4% in the third quarter, while expenses rose by 19% year-over-year to $22.1bn. Compared to the previous year, operating income fell by...
Source: AdobeStock/Photocreo Bednarek U.S. investment firm CoinFund has unveiled plans to sell unregistered securities worth a total of $250 million, securing funds for further investments in crypto startups, according to three filings the company made with the country’s Securities and Exchange Commission (SEC). The New York-based business, which maintains a second headquarters in Miami, will...
Elon Musk. Source: a video screenshot, Elon Musk Zone / YouTube Elon Musk, CEO of Tesla and Twitter, has called on the Federal Reserve to cut interest rates to prevent a potential major recession as the US economy faces the possibility of a severe recession. In reply to a tweet that said a real economic...
Source: AdobeStock / Tom Cathie Wood, CEO of investment management firm ARK Invest, has acquired more shares of major cryptocurrency exchange Coinbase which has lost almost 90% of its value over the past year. The company purchased approximately $5.8 million worth of COIN stock on Thursday, split between the ARK Next Generation Internet (ARKW) and ARK Fintech...
Oki Matsumoto, CEO of Monex Monex Group, a financial services company based in Tokyo, has shown an interest in buying up the Japanese subsidiary of Sam Bankman-Fried’s defunct FTX crypto platform, according to Oki Matsumoto, the CEO of Monex. Talking to Bloomberg, Matsumoto said: “Generally speaking, we are naturally interested.” While he did not go...
According to court papers, Sam Bankman-Fried . The authorities claim that Sam Bankman-Fried siphoned billions of dollars in customer funds from FTX and used the money to make political contributions, finance trading at Alameda and buy luxury real estate in the Bahamas, where FTX was based. The two managers who voiced their concerns are not...
Source: AdobeStock / Sundry Photography Global payment giant PayPal held $604 million of cryptocurrencies for its customers by the end of 2022, with Bitcoin and Ethereum accounting for almost 90% of that figure. PayPal held $291 million in BTC, $250 million in ETH, and another $63 million in Litecoin and Bitcoin Cash as of December...
Image Source: Silvergate MicroStrategy has denied any meaningful exposure to Silvergate as crypto firms who dealt with the crypto bank are rushing for the exits amid concerns about its financial condition. In a recent tweet, business intelligence firm MicroStrategy clarified that their Bitcoin holdings, valued at $2.9 billion and comprising over 130,000 Bitcoin, are not...
Tether coin. Source: Adobe Amid struggles to maintain access to the global banking system, the companies behind Singapore-based USDT stablecoin issuer Tether used a mixture of fraudulent documents, obscured identities and shell companies, according to a new bombshell report by the Wall Street Journal. USDT’s value is pegged to the US dollar and backed 1:1...