Block could be the first firm with a BTC strategy in the S&P 500: VanEck
While firms like Tesla are already in the S&P 500, VanEck’s Matthew Sigel says Block Inc. could be the first company in the index with an “explicit strategy” for accumulating Bitcoin.This post was originally published on this site
Jack Dorsey’s Block Bets Big on Bitcoin Mining
Block, Inc. has outlined a strategic pivot to expand its presence in bitcoin mining, signaling a commitment to the cryptocurrency sector and its infrastructure needs, according to its recent third-quarter shareholder letter. Block’s New Investment Focus on Bitcoin Mining Infrastructure In a letter to shareholders, Block identifies bitcoin mining as a key growth path, driven […]
Block Inc’s Bitcoin revenue stagnates in Q3, shares drop 12% on revenue miss
Block missed its revenue estimates for Q3 and said it is “winding down” its DeFi business to shift money into its Bitcoin mining and wallet businesses.This post was originally published on this site
Robinhood reaches $3.9M settlement over blocked crypto withdrawals
Robinhood Crypto LLC has agreed to pay $3.9 million to settle claims it failed to let customers withdraw cryptocurrency from their accounts between 2018 and 2022. This post was originally published on this site
Robinhood reaches $3.9M settlement over blocked crypto withdrawals
Robinhood Crypto LLC has agreed to pay $3.9 million to settle claims it failed to let customers withdraw cryptocurrency from their accounts between 2018 and 2022. This post was originally published on this site
Venezuela blocks Binance, X amid presidential election dispute
Binance has assured its users that their funds are safe after Venezuela cut off access to the exchange and social media platform X. This post was originally published on this site
Mercury Bank Blocks Fintech Founders From Nigeria, Ukraine, and a Dozen More Countries
The U.S.-based fintech company, Mercury, will offboard startups whose founders reside in or whose businesses are headquartered in 14 African countries and six non-African states. Mercury CEO Immad Akhund stated that this decision impacts customers whose deposits constitute less than 1% of Mercury’s total deposits. Affected Customers’ Deposits Less Than 1% of Mercury’s Mercury Bank, […]
Core Scientific Partners With Block to Receive 15 EH/s in New Bitcoin Mining ASICs
Core Scientific, a large U.S.-based bitcoin mining and hosting provider, and Block, a leading financial services firm, have partnered in a project to integrate the first 3nm bitcoin mining chips produced by the latter. Core Scientific will receive 15 exahash per second (EH/s) of Block’s mining ASIC chips, with the possibility of ordering additional silicon […]
Jack Dorsey Envisions Bitcoin Replacing US Dollar — Foresees BTC Reaching $1 Million
Billionaire Jack Dorsey foresees a future where bitcoin could supplant the U.S. dollar as the dominant global currency. He envisions a scenario where bitcoin’s value could soar to $1 million by 2030. Highlighting the cryptocurrency’s decentralized nature, Dorsey underscores its potential to democratize financial systems and reduce reliance on traditional banking institutions. Jack Dorsey Anticipates […]
Block Is Buying Bitcoin Every Month for Its Balance Sheet
Block Inc. has announced its strategy of regularly purchasing bitcoin for its corporate balance sheet via dollar-cost averaging (DCA). The company plans to allocate 10% of its monthly gross profit from bitcoin products towards investments in the cryptocurrency. “We view bitcoin as an instrument of global economic empowerment; it is a way for individuals around […]