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The CEOs of Block Inc SQ and MicroStrategy Inc MSTR, Jack Dorsey and Michael Saylor respectively, have both expressed a bullish outlook on Bitcoin BTC/USD and have made significant investments in the cryptocurrency through their companies.
What Happened: Block reported a 37.5% growth in Bitcoin-related revenue. The company’s Bitcoin revenue reached $2.42 billion, marking a substantial increase compared to the previous year’s $1.76 billion. Furthermore, the gross profit derived from Bitcoin also saw an improvement, rising from $36 million to $44 million year-over-year.
Of importance is the fact that the market value of these holdings exceeded their book value by $114 million.
Read more on Benzinga
Abu Dhabi, the second-most populous emirate in the UAE, has introduced a formal regulatory framework for Decentralized Autonomous Organizations (DAOs) and other digital ledger entities as it doubles down on its ambition to be a leader in digital asset innovation within the Middle East.
The new framework allows DAOs to operate legally and issue tokens to their members, providing regulatory clarity for firms in the digital assets sector. Abu Dhabi is aiming to become a crypto hub alongside Dubai, and this move is part of a larger initiative to foster initiatives in the broader blockchain and digital asset realm.
Distributed ledger technology (DLT), which provides the basis for blockchain…
Read more on Cointelegraph
Bitcoin (BTC) continues to circle its highest levels in 18 months and bullish BTC price predictions are flowing in — how high can the bull market go and how fast?
From a crash to $20,000 to six figures within months, there is plenty of variety when it comes to what Bitcoin might do next, with November traditionally one of its most volatile months.
BTC/USD monthly returns (screenshot). Source: CoinGlass
The mood among crypto traders and analysts has improved over the past month after “Uptober” delivered nearly 30% BTC price gains.
Cointelegraph takes a look at five of the most popular targets for 2024 and beyond. Stock-to-Flow may not have come true — at least for now — but $250,000…
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Renowned educational entrepreneur and financial expert Robert Kiyosaki, famous for his book “Rich Dad, Poor Dad,” has shared a crucial financial lesson on social media platform X. Kiyosaki emphasized why some individuals remain impoverished while others prosper and endorsed Bitcoin as a strong safe-haven asset compared to traditional options. He criticized conventional job-based income, calling it vulnerable to taxes and inflation, and suggested investments in rental properties, oil, and food production for tax-free profits. Kiyosaki has been critical of the US dollar, advocating for real assets like Bitcoin, gold, and silver as a path to lifelong financial security.
The Joint Chiefs of Global Tax Enforcement (J5), a global anti-tax fraud group, hosted investigators, cryptocurrency experts and data scientists in ‘The Cyber Challenge’ event to track down individuals and organizations committing tax fraud.
The J5 members are composed of the criminal intelligence communities from Australia, Canada, the Netherlands, the United Kingdom and the United States that collaborate in the fight against international and transnational tax crime and money laundering.
The group includes the Australian Taxation Office, the Canada Revenue Agency, the Dutch Fiscal Information and Investigation Service, His Majesty’s Revenue and Customs from the U.K. and IRS-CI…
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Block, the tech firm previously known as Square, reported impressive Q3 earnings that exceeded analyst expectations, driving its share price up significantly in after-hours trading. The highlight of the report was a remarkable 37.5% growth in Bitcoin revenue, reaching $2.42 billion, compared to $1.76 billion last year. Additionally, Block’s gross profit from Bitcoin soared to $44 million, up from $36 million last year. The company also highlighted its Bitcoin holdings, valued at $216 million based on market prices, marking a $114 million increase over book value. Bitcoin revenue accounted for 43% of the total, driven by the success of Block’s CashApp product.
The United States Securities and Exchange Commission (SEC) has refuted the jury’s conclusion regarding Terraform Labs’ alleged violations and has demanded a summary judgment on all the claims.
A court filing from Oct. 27 showed the SEC’s reluctance to accept the jury’s leniency on Do Kwon and his involvement in facilitating the frauds that eventually led to the collapse of Terraform Labs. The filing, directed to the U.S. district court – Southern District of New York, read:
“No rational jury could conclude that Kwon was not liable for Terraform’s violations of Exchange Act Section 10(b) and Rule 10b-5 thereunder pursuant to Exchange Act Section 20(a).”
The “evidence” of…
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Individual creators and brands will ultimately determine the future of the metaverse as opposed to any centralized entity, according to the co-founders of The Sandbox.
On Nov. 3, the team behind the Ethereum-based metaverse announced on X it had made The Sandbox Map accessible to everyone, where “LAND” owners can publish their own experiences without needing to partake in an application process (which was previously required).
THE METAVERSE IS NOW OPEN
Starting today, LAND owners in The Sandbox can instantly publish experiences on the map!
We’re accelerating user-generated content to unleash the creative potential of creators like you. Let’s build the metaverse together. #UGC…
Read more on Cointelegraph