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“# Robinhood, Melvin, and Citadel execs expected to testify on GameStop before Congress ” Executives from companies involved in the recent controversy between hedge funds and retail investors from Reddit may be testifying at a House Financial Services Committee hearing next week. According to a Reuters report, two people familiar with the matter said executives…
“#Josh Kushner’s Thrive Capital raises $2B for new investments” Josh Kushner’s venture capital firm has raised another $2 billion that it plans to invest in a mix of startups and more mature companies. Thrive Capital announced its seventh venture fund Thursday, saying it will put $1.5 billion into late-stage firms and $500 million toward early-stage…
“# Crypto investors should consider buying gold, Newcrest Mining CEO says ” Sandeep Biswas, managing director and CEO at Newcrest Mining, believes crypto investors should consider buying some gold to protect themselves against highly unstable prices of cryptos like Bitcoin (BTC). “If you’re into cryptos, you want to consider having some gold,” Biswas said on…
“# “We don’t plan to invest in Bitcoin,” says CEO of company that made the Pontiac Aztek ” Mary Barra, who has served as the chief executive officer of General Motors for seven years, said the company has no immediate plans to emulate Tesla’s Bitcoin purchase. During GM’s Q4 2020 earnings call today, Barra said…
“# Don’t expect large firms to follow Tesla’s Bitcoin move, JPMorgan says ” Strategists at JPMorgan Chase, one of the largest investment banks in the United States, believe that Tesla’s $1.5 billion Bitcoin (BTC) purchase will not necessarily trigger a ton of similar investments. A group of JPMorgan strategists led by Nikolaos Panigirtzoglou reportedly argued…
“# Baidu reportedly aims to address chip shortage plaguing gaming, crypto and cars ” A global chip shortage is affecting various sectors of industry from gaming to automotive and cryptocurrency mining. Amid Bitcoin’s (BTC) ongoing bull run, the crypto mining industry became massively profitable. Many miners started aggressively stacking mining hardware —by sometimes unconventional methods— which led…
“# Tesla’s $1.5B Bitcoin purchase leaves treasury experts scratching heads ” Corporate treasury commentators are criticizing Tesla’s $1.5 billion Bitcoin splurge, echoing the well-worn rhetoric of BTC’s volatility. Speaking to Financial Times, Jerry Klein, managing director at New York-based investment management firm Treasury Partners said that there was no use case for plowing corporate cash…
“# Major Thai bank’s venture arm sets up $50M fund to invest in blockchain, DeFi ” Siam Commercial Bank — Thailand’s oldest bank, established by royal charter back in 1907 — is cementing its reputation as a strong backer of innovative financial technologies. The institution’s venture arm, SCB 10X, has today announced a new $50…
“# Tesla allocates 7.7% of gross cash to Bitcoin ” Tesla (TSLA) sent shockwaves across the financial markets Monday after a United States Securities and Exchange Commission filing confirmed that the electric vehicle maker has added Bitcoin (BTC) to its balance sheet. Tesla’s latest Form 10-K filing for the fiscal year ended Dec. 31, 2020…
“# Bill Miller plans $400M Bitcoin investment via GBTC ” Hedge fund legend Bill Miller is exhibiting an even larger appetite for Bitcoin (BTC). According to a Friday filing with the United States Securities and Exchange Commission, The Miller Opportunity Trust is seeking indirect exposure to BTC via the Grayscale Bitcoin Trust. The planned investment…