The former CEO of cryptocurrency exchange Binance, Zhao, is facing a legal battle as U.S. prosecutors are pushing for a 36-month sentence for charges related to money laundering. This sentence is significantly higher than the 12 to 18 months advised under the guidelines. Prosecutors argue that such a harsh sentence is necessary to reflect the
Enterprise
Jack Dorsey, the co-founder of Block (formerly Square), recently announced the company’s ambitious plans to expand its bitcoin mining operations. This expansion includes not only designing chips but also developing a full bitcoin mining system. This move signals a significant shift in Block’s approach to the mining industry and aims to democratize access to bitcoin
Oracle Chairman Larry Ellison recently made headlines by announcing that the tech giant is relocating its world headquarters to Nashville, Tennessee. The decision was primarily driven by the city’s reputation as a major health-care epicenter. During a conversation with former U.S. Senate Majority Leader, Bill Frist, Ellison emphasized the importance of proximity to the health-care
The Philippines Securities and Exchange Commission (SEC) has taken action against cryptocurrency exchange Binance, a move that could have significant implications for investors in the country. The regulator raised concerns about Binance offering unregistered securities to Filipinos and functioning as an unregistered broker, which is a clear violation of the country’s securities laws. SEC Chairperson,
The recent price cuts made by Tesla and Li Auto on their electric vehicles have had a significant impact on their stock prices and market performance. Tesla shares dropped by 3% in premarket trading, while Li Auto hit an 11-month low following the price reductions. This indicates that investors are closely monitoring how price adjustments
The recent completion of the fourth Bitcoin halving event has reduced the rewards earned by miners from 6.25 bitcoins to 3.125 bitcoins. This reduction has caused a stir in the market, with the price of Bitcoin experiencing volatility leading up to the event. Despite the mechanical nature of the halving itself, which shouldn’t directly impact
The top Dutch government minister, Steven van Weyenberg, expressed confidence in the retention of ASML, the country’s chip-equipment maker, despite threats from the company to relocate its operations abroad. In a recent interview with CNBC, Weyenberg dismissed concerns regarding ASML’s potential move and underlined the company’s significance to the Dutch economy. He highlighted the government’s
Tesla CEO Elon Musk sent an internal email to staff members addressing the issue of some severance packages being incorrectly low. This mistake was brought to his attention as the company goes through a reorganization process. Musk acknowledged the error and apologized for the oversight, stating that it is being corrected immediately. Earlier this week,
Tesla has recently announced that they will be laying off 285 employees in the state of New York as part of a broader restructuring effort. This move comes after CEO Elon Musk sent out a company-wide memo stating that Tesla would be reducing more than 10% of its global workforce. The majority of these layoffs
Andreessen Horowitz made headlines on Tuesday with the announcement of raising $7.2 billion across five different funds. This move is seen as a sign of unwavering optimism in the tech startup space, which has experienced a lack of significant exits in recent years. Ben Horowitz, the co-founder of the firm along with Marc Andreessen in