MicroStrategy Books Impairment Charge of $197.6M on Q4 Bitcoin Holdings

Speaking on the earnings call, Executive Chairman Michael Saylor said that though bitcoin has gone through a very rough stretch, the performance of MicroStrategy stock since the company began buying bitcoin in August 2020 is better than the major indices and mega-cap tech monopolies Google, Apple, Microsoft, and Amazon. Source 197.6MBitcoinBooksChargeHoldingsImpairmentMicroStrategy CryptoX Portal

Okx to Launch Okx Collective, a Metaverse Experience Powered by Manchester City Soccer Players – Metaverse Bitcoin News

Okx, one of the largest cryptocurrency exchanges in the market, has announced the launch of its soccer-focused metaverse experience, called the “Okx Collective.” The immersive experience will include Jack Grealish, Rúben Dias, Ilkay Gündoğan, and Alex Greenwood, stars from Manchester City, the reigning champion of the Premier League. Okx To Launch Okx Collective Metaverse Sports clubs and their players are more and more inclined to tailor metaverse platforms to offer new immersive experiences to fans. Okx, one of the biggest cryptocurrency exchanges by volume traded, will launch its own metaverse…

Asia Express  – Cointelegraph Magazine

Our weekly roundup of news from East Asia curates the industry’s most important developments. Huawei moves to trademark its NFTs According to a Jan. 28 report by Sina News, Chinese telecom giant Huawei has recently filed for eight trademarks related to its Huawei “YunYunBao” nonfungible tokens (NFT) series. The trademarks include digital collectibles in the scientific instruments, furniture, education, jewelry, advertising and telecom sectors. Last April, Huawei unveiled its YunYunBao NFTs, featuring characters inspired by its namesake cloud service. Huawei NFTs are minted on its proprietary Huawei Petal Chain, which…

Only 4 people controlled Tether Holdings as of 2018: Report

A group of four men controlled 86% of stablecoin issuer Tether Holdings Limited as of 2018, according to documents obtained by The Wall Street Journal in connection with United States authorities investigations. New York Attorney General and Commodity Futures Trading Commission probes into Tether in 2021 exposed its previously unknown ownership structure. The company is the issuer of Tether (USDT), the world’s largest stablecoin with $68 billion in circulation, according to CoinMarketCap. According to the documents, Tether was built by the joint efforts of ex-plastic surgeon Giancarlo Devasini and former…

Alleged Mango Markets exploiter waives bail during hearing in federal court

Lawyers representing a crypto user allegedly behind a $116-million exploit of decentralized exchange Mango Markets have consented to detention in the criminal case involving commodities fraud, commodities market manipulation and wire fraud. According to accounts of social media users present on Feb. 2, Mango Markets user Avraham Eisenberg’s legal team waived his right to bail at a hearing in U.S. District Court for the Southern District of New York. Federal Judge Richard Betman, who will be presiding over the criminal case, has reportedly set a followup court date for Feb.…

Crypto-related enforcement actions by US states rose sharply in 2022: Report

The number of crypto-related enforcement actions in the United States grew notably in 2022, according to a survey released by blockchain risk monitoring firm Solidus Labs. Both federal and state regulators broke records for enforcement actions. There were 58 actions carried out by the four main U.S. federal agencies engaged in crypto enforcement in 2022. That number surpassed the previous high of 40 recorded in 2020 and rose 65% over the 38 actions seen in 2021. The agencies – the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission…

We’re Trying to Make California’s DMV More Efficient With Blockchain

A proof-of-concept testnet conducted last week shows how the partnership’s with the state agency can succeed, according to Smith. “The administration out there is actually very forward thinking and we should have systems in production this first quarter,” he said. Production, he explained, means “a shadow ledger, which will be our first step in the path to full deployment.” The ledger would essentially reflect California’s current driver database. Source