Tag: CEO

MicroStrategy’s (MSTR) Bitcoin (BTC) Billions Have Rebounded Since Michael Saylor Exited CEO Job a Year Ago

Saylor had begun purchasing bitcoin for MicroStrategy’s balance sheet in August 2020, fueling its stock rally alongside bitcoin in 2020 and 2021. Taking a wider view, Saylor this week pointed out that MicroStrategy’s share price is up 254% since he first began making bitcoin purchases, well ahead of the Nasdaq’s 31% advance and gains by individual tech stocks like Google parent Alphabet (GOOGL), Apple (AAPL) and Microsoft (MSFT), which are each higher by 60% to 76%, during that time. Source

Former MicroStrategy (MSTR) CEO Michael Saylor’s Wager on Bitcoin (BTC) Looking Better

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A rebound in the price of bitcoin has sharply narrowed losses for MicroStrategy’s (MSTR) holdings of the cryptocurrency. When Michael Saylor stepped down almost exactly a year ago as CEO of MicroStrategy to become its executive chairman with a sole focus on investing in bitcoin, his digital-asset strategy was looking pretty bleak. He had already spent billions of dollars of MicroStrategy’s money to purchase bitcoin — and his paper loss amounted to about $1 billion. Today, though, MicroStrategy’s position looks brighter as bitcoin’s price has rebounded to above $29,000. Saylor…

Universities are ‘critical players’ for the future of Web3 — LBank Labs CEO

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Universities have a “critical” role to play in terms of nurturing the next generation of Web3 talent, and the academe must understand it to guide students toward the right vision, according to Czhang Lin, the CEO of Web3 venture fund LBank Labs.  On Aug 2, the venture capital firm announced the winners of its Summer Bootcamp competition for university students. Various participants from different academic institutions participated to win a trip to Cabo San Lucas, Mexico and mentorship opportunities from various crypto funds. We are thrilled to announce the winners…

Ex-Celsius CEO must respond to NY lawsuit

Alex Mashinsky, the founder and former CEO of Celsius Network, a centralized crypto lender that folded in 2022, has been directed by a Manhattan state court judge to respond to a lawsuit initiated by New York Attorney General Letitia James. The lawsuit alleges civil fraud, claiming that Mashinsky misled investors by portraying Celsius Network as a safe banking alternative while withholding its risks and significant investment losses. Judge Margaret Chan, overseeing the case, found evidence suggesting a link between Mashinsky’s actions and the financial losses suffered by investors.  James contends that Mashinsky…

Coinbase CEO says leaving US ‘not even in the realm of possibility right now’: Report

Brian Armstrong, chief executive officer at Coinbase, has reportedly waffled about whether the cryptocurrency exchange plans to leave the United States amid regulatory uncertainty. According to an Aug. 4 report from the Financial Times, Armstrong said Coinbase was “staying in the United States” despite many other crypto firms considering leaving the country with the potential threat of legal action from federal regulators. Coinbase currently faces a lawsuit from the U.S. Securities and Exchange Commission as well as scrutiny from 10 state regulators, many of whom issued cease and desist orders…

Coinbase CEO says leaving US ‘not even in the realm of possibility right now’ — Report

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Brian Armstrong, the CEO of Coinbase, has reportedly given a mixed response about whether the cryptocurrency exchange plans to leave the United States amid regulatory uncertainty. According to an Aug. 4 report from the Financial Times, Armstrong said Coinbase was “staying in the United States” despite many other crypto firms considering leaving the country over the potential threat of legal action from federal regulators. Coinbase currently faces a lawsuit from the U.S. Securities and Exchange Commission, as well as scrutiny from 10 state regulators, many of whom issued cease and…

Core Scientific appoints Adam Sullivan as CEO amid restructuring process

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Publicly traded Bitcoin (BTC) miner Core Scientific has appointed Adam Sullivan its CEO. Sullivan, who previously served as the company’s president, took the role on Aug. 4, while co-founder and former CEO Mike Levitt remains chairman of the board. Sullivan has over a decade of financial services experience, particularly in digital assets and infrastructure, with a background that includes strategy, corporate finance, and mergers and acquisitions. Before joining Core Scientific, he held roles at XMS Capital Partners, overseeing transactions totaling over $5 billion, including Core Scientific’s merger with Power &…

Matter Labs CEO vehemently denies copy-pasting code from Polygon Zero

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Alex Gluchowski, the co-founder and CEO of zkSync creator Matter Labs, has denied copy-pasting code from Polygon Zero, after the zero-knowledge scaling firm accused them of copying the code from their system without proper attribution.  On Aug. 3, Polygon Zero published a long blog post saying they believe Matter Labs copied what they described as “performance-critical components” of their zero-knowledge system called “Plonky2.” The code was seen on Matter Labs’ recently-released proving system dubbed “Boojum,” without attributing the code’s original authors, according to Polygon Zero. The zk-scaling company said that…

Binance CEO Shares Details Of $20 Million Scam Attempt

Binance CEO, Changpeng ‘CZ’ Zhao has recently provided details on a failed $20 million scam attempt in a bid to keep the crypto community on alert for future occurrences. Crypto Scammers Are “So Good Now,” Binance CEO Says In a tweet on August 2, Changpeng Zhao described a recent scam attempt as “clever,” stating that it was “luckily” prevented as the bad actors in the crypto space seem to have gotten better.  Related Reading: Curve DAO (CRV) Price Recovery Post-Exploit: What Would Be A Realistic Scenario? Specifically, the Binance CEO drew…

FTX CEO Says Embattled Exchange Ready for Bankruptcy Plan That Will Extinguish FTT Token Claims

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The bankrupt crypto exchange FTX has submitted a draft reorganization plan to the courts to pay back creditors. The draft plan, filed with a US bankruptcy court on Monday, calls for scrapping claims based on holdings of the disgraced company’s native token, FTT. The draft says the FTT-based claims against the exchange should be dropped due to the “equity-like characteristics” of its native token. It also calls for canceling any other equity interests. FTX plans to pay back other debtors and customers in cash. The company’s CEO, John J. Ray…