Meta’s metaverse division, Reality Labs, has achieved its most successful quarter to date, with over $1 billion in revenue in the last quarter of 2023. This impressive figure can be attributed to the strong sales of Meta’s Quest headsets and the Ray-Ban Meta smart glasses. The division’s performance is undoubtedly commendable, considering the financial challenges
Crypto
The anticipation of a bullish surge loomed over the crypto sphere as spot Bitcoin exchange-traded funds (ETFs) gained approval. Bitcoin surpassed the $49,000 mark following the green signal from the US Securities and Exchange Commission (SEC) for 11 spot BTC ETFs. However, contrary to expectations, prices took a downturn after the trading debut of eight
Decentralized Finance (DeFi) has garnered significant attention and usage in recent years, but its unregulated nature has raised concerns among regulatory bodies worldwide. In an attempt to address these concerns, Rebecca Rettig, Katja Gilman, and Michael Mosier have proposed a strategy to classify truly decentralized DeFi protocols as critical infrastructure. This article will explore the
Entrepreneur and billionaire Mark Cuban recently engaged in an Ask Me Anything (AMA) session on social media, where he shared his insights on various topics, including cryptocurrencies, non-fungible tokens (NFTs), and decentralized finance (DeFi). Let’s dive into Cuban’s thoughts and perspectives on these emerging technologies. Cuban’s Preferred Cryptocurrencies When asked about his preferred cryptocurrencies beyond
The demand for spot Bitcoin exchange-traded funds (ETFs) has been growing rapidly, and Hong Kong is not willing to be left behind. Harvest Fund Management’s Hong Kong branch has recently applied for a spot Bitcoin ETF with local regulators, signaling the city’s readiness to embrace this new investment avenue. As the first wave of spot
The United States Financial Industry Regulatory Authority (FINRA) has recently come forward with some alarming statistics regarding the state of communication within the cryptocurrency industry. According to a report released by FINRA, approximately 70% of retail communications related to cryptocurrencies are in violation of its rule against misleading claims. This finding raises concerns about the
The security and blockchain auditing firm, CertiK, which is renowned for its comprehensive approach to securing digital assets and decentralized technologies, has found itself becoming a victim of scams and exploitation. Despite its expertise in detecting and preventing security breaches, scammers have managed to leverage the CertiK brand to spread misinformation and defraud unsuspecting users.
In a recent development, Mark Scott, a former partner at the U.S. law firm Locke Lord, has been sentenced to 10 years in prison for his role in a fraudulent cryptocurrency scheme. The scheme, known as the OneCoin cryptocurrency fraud, involved the laundering of $400 million. The Manhattan federal prosecutors successfully convicted Scott of conspiracy
Changpeng Zhao, also known as CZ, is the founder of Binance, one of the most prominent cryptocurrency exchanges in the world. However, CZ’s journey has been filled with setbacks and legal challenges. In this article, we will delve into the recent obstacles faced by CZ, including his failed attempt to travel to the United Arab
Bitcoin mining company Core Scientific has emerged from Chapter 11 bankruptcy with a reorganization plan that has significantly improved its financial standing. As part of the plan, the company has successfully reduced its debt by $400 million through the conversion of debt from equipment lenders and convertible note holders into equity. This move not only