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A legal lawsuit against MicroStrategy, an American business intelligence company, was rejected by the Superior Court of the District of Columbia. The lawsuit claimed that MicroStrategy assisted its co-founder, Michael Saylor, in avoiding paying income taxes. A new filing claims that in October, Saylor and MicroStrategy asked the court to
Another crypto industry giant Silvergate Capital is in danger of collapsing less than four months after Sam Bankman-Fried’s crypto exchange FTX and its sister company Alameda Research filed for bankruptcy. The global cryptocurrency market cap plummeted from $1.13 trillion to $1.02 trillion in just three days. The warning spread throughout
On Thursday, several cryptocurrency firms issued statements crafted to distance themselves from the crypto-friendly bank Silvergate Capital, whose shares have experienced a dramatic drop following the announcement that the firm would delay the publishing of its annual report and could report additional losses. Recently it was revealed that Coinbase, the
This week, two major UK banks—Nationwide Building Society and HSBC Holdings Plc—tightened restrictions on retail clients’ access to cryptocurrency assets in the wake of recent scandals and regulatory cautions in the sector. The building society advised its clients on Wednesday. That the daily limit for using a debit card to
The world’s leading payment giant, Visa, stepped up to deny the news of temporarily halting their crypto services on Twitter. The seeming news involved the payment giants – Visa and Mastercard – and caused high speculations in the financial sector. Clearing those all, Visa’s Head of Crypto, Cuy Sheffield, declared
The start of 2023 and February’s excitement over the cryptocurrency market turned to struggle at the end of Feb. After a prolonged 2022 bearish, the market signals recovery from Jan 1st, but the recent Federal regulator’s scrutiny over the crypto industry led top digital assets to face unstable price momentum.
In the wake of the crypto industry meltdown, the two largest credit card giants, Visa and Mastercard, plan to pause new partnerships with cryptocurrency firms. This action from the multinational payments service company comes after the crypto exchange FTX and cryptocurrency lender BlockFi filed for bankruptcy, which sent shockwaves to
Shaktikanta Das, the governor of the Reserve Bank of India (RBI), asserts that some G20 members want to consider outright banning cryptocurrencies. Officials from the G20’s finance ministries and central bankers appeared to be in accord about regulating the digital currency. As per the report, the G20 summit, which India
The world’s largest digital asset Bitcoin’s (BTC) chart signals green after trading for five days in a red candle. Since the beginning of 2023, the global crypto market showing some positive recovery from its prolonged bear market. At the time of writing, the overall market cap was $1.12 trillion, which
After the triumph of ChatGPT, Mark Zuckerberg has launched a new language model for Meta. Both Google’s Bard and OpenAI’s chatbot use extensive language model systems, which are the backbone of any generative AI system. According to CNBC, Meta has trained a system they name LLaMA and plans to reveal
