Tesla Reports Loss in Failed Bitcoin Investment
During the first quarter of 2021, the company put more than $1.5 billion into the coin. In a regulatory filing, Tesla said that it lost $170 million on its investment in Bitcoin during the first nine months of this year. It also said that it made about $64 million by turning some of the Bitcoin […]
Robinhood Adds Support For Cryptocurrencies Aave and Tezos
On Monday, the company announced on Twitter that the trading app Robinhood Markets (HOOD) now supports the cryptocurrencies Aave (AAVE) and Tezos (XTZ). Even though cryptocurrency prices have been low since the beginning of 2022, Robinhood Markets (NASDAQ: HOOD) has let its users buy and sell Aave (AAVE-USD) and Tezos (XTZ-USD), which are both down […]
Kazakhstan retains third place in Bitcoin Mining Hubs
Kazakhstan has maintained its third-place ranking in Bitcoin (BTC) mining for more than a year after surpassing Russia in February 2021. As of January 2022, Kazakhstan provided 13.22% of the overall Bitcoin hash rate, placing third behind the two original pioneers, China (21.11%) and the United States (37.84%). Cambridge Community for Elective Money information calculated […]
Fidelity to increase crypto unit by 100 new hires
The digital Assets division of $4.5 trillion asset management company Fidelity Investments is allegedly planning to add another 100 workers to support the division’s expanding digital assets business. By the end of the first quarter of 2023, the Fidelity Digital Asset will have roughly 500 employees, according to a Fidelity representative who spoke with Bloomberg […]
Hong Kong prepares 2023 crypto bill to support market expansion
The Hong Kong government is currently working on a crypto bill that would establish clear policies to facilitate the market’s expansion. According to Liang Hanjing, director of financial technology at InvestHK, the Hong Kong government department for foreign direct investments, the bill pertaining to the regulation of cryptocurrencies is indeed anticipated to be passed in […]