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MicroStrategy has announced its plans to raise capital to purchase more Bitcoin over the next three years and boost its Bitcoin strategy. Interestingly, the company also revealed its new status as a Bitcoin Treasury Company. MicroStrategy To Raise $42 Billion To Buy More Bitcoin The software company announced in a press release its strategic goal…
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Renowned Artificial Intelligence (AI) firm OpenAI has introduced SimpleQA, a factuality benchmark. Based on its description, this tool measures the ability for language models to answer short, fact-seeking questions. This new benchmark marks another attempt for the AI giant to restore trust in its flagship products. SimpleQA Outperforms Frontier Models A general problem faced by…
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Coinbase CEO, Brian Armstrong, announced that Coinbase would not scale back on its crypto advocacy following the U.S. election results, which are expected in six days. Armstrong’s statement emphasized that they are committed to securing a favorable environment for crypto in U.S. legislation post-November US election. Consequently, Coinbase has pledged an additional $25 million to…
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Despite US SEC regulatory strain, commission-free crypto brokerage firm Robinhood Markets Inc has reported its third quarter performance report with its crypto unit shining strong. After a very promising quarter in a competitive market, the firm said it grew its overall Year-to-Date (YTD) Net Deposits to $34 billion. Robinhood and the Crypto Boom According to…
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Over the past 7 months, the Solana price has traded sideways, struggling to sustain above the $200 level. However, as the crypto market witnessed a renewed recovery in late October, the SOL coin price is poised to escape this long-coming consolidation. Here, we delve into five key metrics that suggest Solana could soon reach new…
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Canary Capital, a crypto-focused investment firm founded by former Valkyrie Funds co-founder Steven McClurg, has filed for a Solana (SOL) spot exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). This new development comes amid a surge of applications from various asset managers aiming to introduce cryptocurrency-backed ETFs on traditional exchanges. If approved,…
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Coinbase stock fell in after-hours trading Wednesday after the cryptocurrency exchange reported third-quarter earnings and revenue that fell below Wall Street analysts’ estimates. According to the exchange, one of the reasons is “the soft market”. Based on FactSet data, the crypto exchange posted total revenue of $1.2 billion for the quarter, compared with an average…
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In its most recent report examining the implications of digital assets, the US Treasury noted that the “growth in stablecoins has resulted in a modest increase in demand for short-dated Treasuries.” The 132-page report, released for the Treasury Borrowing Advisory Committee, discusses digital assets, focusing on major players like Bitcoin and stablecoins. US Treasury: Stablecoins…
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XRP price has maintained its position as one of the standout performers in the cryptocurrency market this year, even amid minor pullbacks. As November approaches, investor interest in XRP is growing, fueled by various factors hinting a potential price surge. 3 Key Reasons XRP Could Soar This November With November fast approaching, XRP investors are…
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rFormer crypto executive Nishad Singh is ready to find out his sentence on Wednesday for his role in his one-time boss Sam Bankman-Fried’s misappropriation of an estimated $8 billion in customer funds from the now-bankrupt FTX exchange. Singh pleaded guilty to six felony counts of fraud and conspiracy, testifying as a prosecution witness last year…