Meta’s metaverse division, Reality Labs, recently achieved a remarkable milestone by recording over $1 billion in revenue for the fourth quarter of 2023. The success can be primarily attributed to the sales of Meta’s Quest headsets and the Ray-Ban Meta smart glasses. This achievement marks an extraordinary feat for Reality Labs; however, it comes at
Crypto
The approval of spot Bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC) was expected to bring a bullish surge to the crypto sphere. However, following the trading debut of eight spot BTC ETFs, Bitcoin prices took a downturn. Hovering below $43,000, Bitcoin has been trapped within a tight trading range for
In a recent spontaneous Ask Me Anything (AMA) session on X, Mark Cuban, the entrepreneur and owner of the Dallas Mavericks, shared his thoughts on various cryptocurrency ventures. With a following of 8.8 million, Cuban’s insights hold significant weight in the crypto community. Let’s delve into his comments and understand his perspectives beyond Bitcoin and
DeFi regulation has become a contentious topic among regulatory bodies worldwide. The emergence of decentralized finance protocols has raised concerns regarding the potential risks and vulnerabilities associated with these systems. However, a recent paper authored by Rebecca Rettig, Katja Gilman, and Michael Mosier proposes a unique strategy to address these concerns by classifying truly decentralized
The increasing popularity of spot Bitcoin exchange-traded funds (ETFs) has hit Hong Kong, as Harvest Fund Management’s Hong Kong branch recently applied for a spot Bitcoin ETF with local regulators. This move aligns with Hong Kong’s efforts to establish its first wave of spot crypto ETFs, which are expected to revolutionize the digital asset investment
The United States Financial Industry Regulatory Authority (FINRA) recently released a report revealing concerning statistics about the retail communications concerning cryptocurrencies. The report stated that around 70% of these communications violate FINRA’s rule of misleading claims. This article analyzes the findings from the report and highlights the areas of concern. In November 2022, FINRA launched
Cryptocurrency security firm CertiK, known for its expertise in auditing blockchain networks and smart contracts, is grappling with a surge of fraudulent activities. Scammers are exploiting CertiK’s brand and targeting users, deceiving them with false certifications and impersonating company personnel. In this article, we will delve into the challenges faced by CertiK and the measures
In a landmark case, Mark Scott, a former partner at the prominent U.S. law firm Locke Lord, has been sentenced to 10 years in prison for his role in a fraudulent cryptocurrency scheme. The scheme, which involved the OneCoin cryptocurrency, was valued at a staggering $400 million. Manhattan federal prosecutors announced the sentencing on Thursday,
Last month, Changpeng Zhao, also known as CZ, the founder of the popular crypto exchange Binance, faced a significant setback when a federal judge denied his request to travel to the United Arab Emirates (UAE). This decision has put a halt to CZ’s plans, as he proposed using his substantial $4.5 billion stake in Binance
Bitcoin miner Core Scientific has successfully completed its reorganization process and is now emerging from Chapter 11 with a significantly improved financial position. The company’s recent reorganization plan has led to a remarkable $400 million reduction in debt, achieved through the conversion of debt from equipment lenders and convertible note holders into equity. This debt
On Tuesday, January 9, 2024, the Securities and Exchange Commission (SEC) fell victim to a security breach that compromised the agency’s @SECGov X account. This breach allowed an unauthorized party to post false information regarding the approval of spot Bitcoin exchange-traded funds. In a recently released statement, an SEC spokesperson disclosed that multi-factor authentication (MFA)
Bitcoin exchange-traded funds (ETFs) have made a powerful entrance into the market, accumulating a significant amount of bitcoins in just six days of trading. As volumes increased, the assets under management (AUM) soared to over $3.96 billion. This article explores the impressive growth of these ETFs and provides an analysis of the top players in
The perception and use of digital assets, particularly Bitcoin, stablecoins, and Central Bank Digital Currencies (CBDCs), are undergoing a paradigm shift that may have far-reaching implications for the global dominance of the U.S. dollar. In a recent publication, Andrew Peel, the Head of Digital Assets at Morgan Stanley, warns that this shift could challenge the
The digital asset economy has experienced significant setbacks in the past year. It has been plagued by increasing interest rates, regulatory actions, financial insolvencies, and instances of fraud. Even the world’s second-largest stablecoin, USDC, has not been immune to these forces. The total circulating supply of USDC has declined from approximately $45 billion to about