News

Cryptocurrency

Kimberly Redmond | Equities.com |

Tesla Inc (Nasdaq: TSLA) boss Elon Musk announced Sunday that his electric car company will permit vehicle purchases using bitcoin once it can confirm that 50% of the energy used to mine for cryptocurrency is derived from clean energy sources.

In a tweet, Musk said, “When there’s confirmation of reasonable (-50%) clean energy usage by miners with a positive future trend, Tesla will resume allowing bitcoin transactions.”


Reuters | Equities.com |

U.S. Federal Reserve chief Jerome Powell turned up the heat on cryptocurrencies on Thursday, saying they pose risks to financial stability, and indicating that greater regulation of the increasingly popular electronic currency may be warranted.

The Treasury Department, meanwhile, flagged its concerns that wealthy individuals could use the largely unregulated sector to avoid tax and said it wanted big crypto asset transfers reported to authorities.


Reuters | Equities.com |

Celebrity stockpicker Cathie Woods's ARK funds bought more shares of Coinbase worth $110 million a day after the cryptocurrency exchange's Nasdaq debut, according to the firm's daily trade summary on Thursday.

ARK, which gained prominence last year among retail investors, on Thursday bought a total of 341,186 shares across three funds, valued at $110 million at Thursday's $322.75 close.

That added to 749,205 purchased according to its Wednesday ale...


Reuters | Equities.com |

Nasdaq on Tuesday set a reference price of $250 per share for Coinbase Global Inc, projecting a value for the largest U.S. cryptocurrency exchange at $49.19 billion ahead of its landmark stock market debut on Wednesday.

The reference price is not an offering price for investors to purchase shares, but rather a benchmark for performance when the stock starts trading the exchange on Wednesday.


Reuters | Equities.com |

HSBC has banned customers of its online share-trading platform from buying or moving into their accounts MicroStrategy Inc stock, a message seen by Reuters showed, calling it a “virtual currency product”.

The bank will not facilitate the buying or exchange of products related to or referencing the performance of virtual currencies, the message to an HSBC InvestDirect client said. Bitcoin is the largest and best-known vi...virtual currency.


Reuters | Equities.com |

The cryptocurrency market capitalization hit an all-time peak of $2 trillion on Monday, according to data and market trackers CoinGecko and Blockfolio, as gains over the last several months attracted demand from both institutional and retail investors.

The surge was led by bitcoin, which hit its own milestone by holding at a $1 trillion market cap for one week. Bitcoin was last up 1.4% at $59,045. Since hitting a lifetime peak of more than $61,000 in mid-March, bitcoin has traded in a relatively narrow range.


Kimberly Redmond | Equities.com |

PayPal Holdings Inc announced Tuesday it has begun rolling out a feature across the US that will let consumers use cryptocurrency to pay at millions of the platform’s online merchants.

Now, customers who hold bitcoin, Ethereum, Litecoin or bitcoin cash in their PayPal digital wallets will be able to instantly convert it into fiat currencies at checkout to complete purchases safely and securely, according to PayPal.


Kimberly Redmond | Equities.com |

Visa Inc announced Monday that it will allow the use of cryptocurrency to settle transactions on its payment network.

The financial services giant said that transactions can be settled using USD coin (USDC), an Ethereum-based stablecoin backed by the US dollar. Visa has launched a pilot program with crypto platform Crypto.com and Anchorage Digital Bank, the first federally chartered digital asset bank.


Kimberly Redmond | Equities.com |

Fidelity Investments became the latest financial institution to file for regulatory approval to launch a bitcoin exchange-traded fund (ETF).

According to a Form S-1 filing Wednesday with the US Securities and Exchange Commission, the Wise Origin Bitcoin ETF will be sponsored by FD Funds Management LLC and the Fidelity Service Company Inc will serve as administrator.


Kimberly Redmond | Equities.com |

Tesla Inc boss Elon Musk announced early Wednesday that his company’s electric cars can be purchased using bitcoin in the US.

“You can now buy a Tesla with Bitcoin,” Musk tweeted overnight.

“Tesla is using only internal & open source software & operates Bitcoin nodes directly,” he added in a follow-up tweet. “Bitcoin paid Tesla will be retained as Bitcoin, not converted to fiat currency.”