Category: cryptocurrencies
Eco raises $26M in a16z-led round to scale its digital cryptocurrency platform
Eco, which has built out a digital global cryptocurrency platform, announced Friday that it has raised $26 million in a funding round led by a16z Crypto. Founded in 2018, the SF-based startup’s platform is designed to be used as a payment tool around the world for daily-use transactions. The company…
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Tesla’s Bitcoin investment could be bad for the company’s climate reputation and its bottom line
Tesla’s $1.5 billion investment in Bitcoin may be good for Elon Musk, but it’s definitely risky for the company that made him the world’s richest man, according to investors, analysts and money managers at some of the country’s largest banks. As a standard bearer for the consumer electric vehicle industry…
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Could meme stocks like GameStop kill bitcoin’s rise?
Cryptocurrencies, more so than most other things, are only valuable because of a shared agreement that they are valuable. Their value is a product of digital handshakes over millions of transactions firming up that consensus. For bitcoin, the trust that it has worth has turned more valuable in the past…
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XRP cryptocurrency crashes following announcement of SEC suit against Ripple
The value of one of the world’s most valuable cryptocurrencies is crashing and a recently filed SEC complaint is at the root of the free fall. According to CoinMarketCap, the XRP token’s value has declined more than 42% in the past 24 hours and is down more than 63% from…
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Telegram abandons its TON blockchain platform
Messaging service Telegram said on Tuesday it is abandoning its blockchain platform Telegram Open Network (TON) after a lengthy battle with the U.S. Securities and Exchange Commission (SEC). “Today is a sad day for us here at Telegram . We are announcing the discontinuation of our blockchain project,” wrote Pavel Durov,…
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Stocks gain as governments around the world pledge to prop up the global economy
In a volatile trading session that saw the White House signal intentions to release the largest stimulus package since the great recession of 2008, American stocks made up for yesterday’s losses with major indices rising sharply. The return to gains was welcome after stocks posted huge losses to begin the…
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