Bitcoin’s price fell beneath the $60,000 mark on Monday, declining over 6% against the U.S. dollar. At 1:30 p.m. EDT on June 24, the currency’s price hit an intraday low of $59,809 per coin. Bitcoin Struggles Against Bearish Market, Slides to Near $60K Level This Monday proved tumultuous for bitcoin (BTC), as its price dipped […] Original
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According to a filing with the United States Securities and Exchange Commission on Jan. 31, electric vehicle manufacturer Tesla disclosed that it recorded a $204 million gross impairment loss during 2022 on its Bitcoin (BTC) holdings. Simultaneously, Tesla recorded a gain of $64 million from converting BTC into fiat currency at various points during the year, resulting in a net loss of $140 million from its cryptocurrency trading activities. The filing further explained the impact of volatile crypto prices on Tesla’s bottom line: “Digital assets are considered indefinite-lived intangible assets…
Genesis trading announced on Nov. 10 that it will receive an additional equity infusion of $140M from its parent company, Digital Currency Group. According to the company, this decision was made to “strengthen its balance sheet” and boost its “position as a global leader in crypto capital markets”. Genesis said it also hopes that the equity infusion will put its company in a position to support its clients and “the growing demand” for its services. This is according to a snapshot of a letter sent to their clients, as shared…
“While the operation of our lending and trading businesses has not been impacted by recent market events, Genesis has taken steps to strengthen its balance sheet with an additional equity infusion of $140M from our parent company, Digital Currency Group,” Genesis told clients in an email, which was confirmed by a DCG spokesperson. Source
Play-to-earn NFT platform Vulcan Forged said on Tuesday it has refunded $140 million worth of PYR tokens to nearly all investors a day after the platform was hacked. The platform, which is built on the Polygon network, offers over six blockchain games, a decentralized exchange, as well as a non-fungible token (NFT) marketplace. “All My Forge wallets have been secured. Only a few needing PYR back,” the developers in a tweet. They said that a buyback and token burn — mechanisms that see…
Play-to-earn NFT platform Vulcan Forged said on Tuesday that it has refunded $140 million worth of PYR tokens to nearly all investors a day after the platform was hacked. The platform, which is built on the Polygon network, offers over six blockchain games, a decentralized exchange, as well as a non-fungible token (NFT) marketplace. “All My Forge wallets have been secured. Only a few needing PYR back,” the developers in a tweet. They said that a buyback and token burn — mechanisms that see projects purchase tokens on the open…
Leading offline mapping application Maps.me has conducted a $50 million seed funding round to embed decentralized finance tools onto its platform. The funding round for “Maps.me 2.0” was led by Sam Bankman-Fried of Alameda Research and also featured participation from crypto venture heavyweights CMS Holdings and Genesis Capital. Maps.me 2.0 will be a wide-ranging application, featuring travel guides, hotel bookings and mapping services, in addition to exchange features and a multicurrency crypto-asset wallet offering annual yields of up to 8%. Alex Grebnev, the co-founder of Maps.me 2.0, told Cointelegraph that…
Yearn.finance, an automated DeFi yield-farming protocol, has recently launched the latest yvault strategy, yETH. yVault strategies are a set of predefined actions that allow users to deposit funds and have them automatically sent to liquidity pools where high-yield interest and additional token rewards are earned. The yETH vault was launched on September 2, along with the yWETH vault and a few other updates. The yWETH vault is equivalent to the yETH vault but uses wrapped ETH, an ERC-20 token pegged and backed by ETH. According to a recent client newsletter…