Bitcoin

Tesla records $204M loss from bitcoin in 2022

Tesla recorded a $204 million impairment loss in 2022 on its bitcoin holdings, according to regulatory filings. The loss was offset by $64 million in profits from bitcoin trading, leaving the automake

Bitcoin-based app Strike expands in Philippines to grow cross-border payment solutions

Strike, a Bitcoin-based payment network and financial app, is expanding to the Philippines to grow cross-border payments and remittance markets. “The Philippines is one of the biggest remitting mark

Twitter rivals, unicorn trivia and valuation homework

Welcome back to Equity, the podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. It’s Tuesday, not Monday, but hey, the week ahead is as busy as

Will Bitcoin and Ethereum prices stagnate, sink or rebound in 2023?

We're taking a look at how significant crypto and global events from this year affected the two biggest cryptocurrencies: Bitcion and Ether.

Bitcoin miner Argo to avoid bankruptcy with $100M deal from Galaxy Digital

Galaxy plans to acquire Argo’s bitcoin mining facility Helios for $65 million and provide a $35 million loan amid the miner’s restructuring.

Crypto exchange Kraken cuts 1,100 jobs

Crypto exchange Kraken today announced it’s letting go of 1,100 staffers. The announcement came from a company blog post and follows similar news from DoorDash that it was also cutting staff. N

Jack Dorsey’s Bitcoin project TBD kills its plan to trademark ‘Web5’

A plan which would see a corporate entity trademark the term “Web5” has been put to rest after much backlash. Late Tuesday night, TBD, the Bitcoin-focused division of Jack Dorsey’s p

Bitcoin ‘rarely’ used for legal transactions, on ‘road to irrelevance’, say European Central Bank officials

European Central Bank officials alleged on Wednesday that bitcoin is “rarely used for legal transactions,” is fueled by speculation and the recent erosion in its value indicates that it is on the

Bitcoin believers maintain view it could find institutional buy-in despite FTX chaos

Bitcoin could potentially capture roughly 3.5% of the global monetary market in aggregate over the next 17 years, according to CoinShares.

US DOJ announces seizure of $3.36B in cryptocurrency

The U.S. Department of Justice on Monday announced that law enforcement seized $3.36 billion of bitcoin from a man who “unlawfully obtained” more than 50,000 bitcoin from darkweb market Silk Road

Bitcoin miners struggle as energy prices rise and hash prices fall

Bitcoin prices have continued to hold near $20,000 this past week, but some miners are crumbling as spiking energy prices and historically low hash prices cut into profits.

Asset management firm Stone Ridge launches Bitcoin-focused accelerator program

Startup accelerator program Wolf aims to scale the Bitcoin-focused Lightning Network and Taro protocol.

Chain Reaction x Equity talk the Ethereum Merge

If you are into web3, the biggest news of the week in tech was not the massive Figma-Adobe deal. No, the leading story of the last few days — arguably even the last few weeks — has been th

Singapore’s KNN3 wants to enable social discovery for decentralized apps

There’s no shortage of startups trying to make sense of the explosive growth of data generated from blockchain applications. Nansen has the support from a16z to provide on-chain data analysis fo

Private equity’s gatekeepers get serious about tokens

Welcome to Chain Reaction, where we unpack and explain the latest in crypto news, drama and trends, breaking things down block by block for the crypto curious. For our Thursday episode this week, we

Miners flee to Ethereum Classic as ‘The Merge’ arrives

The Merge, the long-awaited software upgrade that promises to make Ethereum transactions a lot greener, is expected to put miners out of jobs. But miners are not quitting outright. With big bucks inve

Meltem Demirors on why society isn’t ready for a crypto-driven revolution yet

Meltem Demirors hasn’t just been working in crypto for seven years — she’s been shaping its trajectory. Demirors, chief strategy officer at publicly traded European digital asset man

‘The Merge’ could be good news for China’s Ethereum enthusiasts

When China banned cryptocurrency mining and trading, many saw it as putting an end to a burgeoning industry in the world’s second-largest economy. As it turned out, the country’s crypto i

Nigerian blockchain payments startup Bitmama closes $2M pre-seed as it scales to new markets

Africa is the world’s third fastest-growing crypto market, with crypto adoption increasing by more than 1,200% over the last two years. Countries such as Nigeria, Kenya and South Africa are majorly

Crypto’s biggest powerhouse flexes on its competition

Welcome to Chain Reaction, where we unpack and explain the latest in crypto news, drama and trends, breaking things down block by block for the crypto curious. For our Thursday episode this week, we d
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