Day: February 22, 2021

Tesla’s Bitcoin (BTC) Buy Now at $1 Billion in Paper Profits

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Tesla’s Bitcoin (BTC) bet has almost recouped the initial capital in profits barely a fortnight after the electric vehicle (EV) manufacturing giant announced its $1.5 billion BTC outlay. Indeed, the company could be in line to make more profits from adding Bitcoin to its balance sheet than from its entire inventory sale for the whole of 2020. Tesla Enjoying Bitcoin Pump According to a report by CNBC on Monday (Feb. 22, 2021), Daniel Ives, a Wedbush Securities analyst has calculated that Tesla has made $1 billion in profit from its…

Canada’s Third Bitcoin ETF Might Spring as CI Global Files Issue

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After two ETFs went live last week, there could be a third Canadian bitcoin exchange-traded fund (ETF). On Friday, CI Global Asset Management, a subsidiary of a firm in charge of more than $230 billion worth of assets, filed a preliminary prospectus for the financial instrument. Previous Canadian Bitcoin ETFs The new CI Galaxy Bitcoin ETF (BTCX) would be under the management of CI. It will also receive advice from merchant bank Galaxy Digital. Both mentioned firms have partnered previously on the CI Galaxy Bitcoin Fund, a closed-end investment product.…

India Expects Promoters to Sell All Their Cryptos before Raising Funds from IPO

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According to reports, the current parliamentary session in India will see a new bill passed to order the ban on the use of all private cryptocurrencies. The Securities and Exchange Board of India (SEBI) has been said to inform promoters to sell all their cryptocurrencies before engaging in any fundraisings through their Initial Public Offerings (IPO). This information has according to the report been handed to securities lawyers, merchant bankers as well as company executives involved in the IPO processes. Though no comment has been officially received from SEBI, it…

Fuel for a broader Bitcoin rally? BTC dip fills futures gap, liquidating $1 billion

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An important  Chicago Mercantile Exchange (CME) Bitcoin (BTC) futures gap closed as BTC/USD suddenly dropped below $54,000 on Feb. 22.  A CME gap forms when the price of Bitcoin moves either up or down after the CME closes during the weekend or holidays in the U.S.  Unlike most cryptocurrency exchanges, since the CME Bitcoin futures exchange is not open at all times, a gap forms between CME and many Bitcoin trading platforms. BTC/USDT 4-hour price chart (Binance). Source: TradingView.com Why is the CME Bitcoin gap significant? The CME gap is…

Twitter Tried to Acquire Indian Social Network ShareChat

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Twitter participated in ShareChat’s Series D round back in 2019, leading the 100 million financing round. Twitter Inc (NYSE: TWTR) recently tried to purchase ShareChat, an Indian social media startup according to reports. The social media giant held talks, offering $1.1 billion for ShareChat in a bid to expand its reach in the world’s second-largest internet market.  Reports suggest that Twitter expressed its desire to make Moj, ShareChat’s short-form video app, a popular app and a direct rival to Chinese video-sharing social networking service TikTok. Twitter’s plan however isn’t going to…

Spend BITCOIN for Cards

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Ripple Lists Its Business in Wyoming, Crypto Companies Gaining Interest in This State

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Ripple has registered its business in Wyoming under the name Ripple Markets WY LLC. Ripple, which has not posted much exciting news this year, has recently given the community good news by opening a new company in Wyoming. As per the Wyoming Secretary of State records, the blockchain-based payment company Ripple significantly planned the Wyoming business’s opening as part of their strategy to spread their wings across local communities. Looking at the Wyoming Secretary of State records, the new domestic business, Ripple Markets WY LLC, began on February 11, 2020,…

Coinbase Valuation Climbs $100+ Billion in Secondary Share Sale

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Last Friday, Coinbase sold its recent batch of 127,000 shares at $373 putting the company’s valuation above $100 billion.  As per the latest report from Axios Capital, Coinbase valuation stood above $100 billion ahead of its direct listing. As per the publication, the most recent batch of Coinbase shares attracted a price of $373 per share. This happens just four days after Coinbase attracted valuations of $77 billion with its share trading at $300 per piece. So, as it happened, Coinbase initiated its secondary share sale through the Nasdaq Private…

Nvidia Limits the Efficiency of Mining Ether Using Its GPUs by 50% – Mining Bitcoin News

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Nvidia announced that it will start limiting the efficiency of mining ethereum or any other crypto using its new range of upcoming graphics processing units (GPUs). In a blog post published Feb. 19, the U.S. hardware maker said this limitation will feature first on its new Geforce RTX 3060 card, which is scheduled for release on Feb. 25. Nvidia revealed that the new GPU software drivers are designed to detect specific attributes of the ether (ETH) mining algorithm, and limit the hash rate, or cryptocurrency mining efficiency, by around 50%.…

India securities regulator to reportedly bar IPO promoters from holding crypto

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In what seems to be another anti-crypto move by regulators in India, IPO promoters may soon be forced to sell their crypto holdings before being allowed to participate in raising funds. According to a report by the Economic Times, the Securities Board of India may disqualify IPO promoters from raising funds if they hold cryptocurrencies. This move is reportedly an extension of SEBI’s instructions to securities lawyers, merchant banks, and other stakeholders in the IPO ecosystem regarding cryptos. According to a securities lawyer quoted by ET, “There could be a…