Technology
Luna Foundation Guard further bolsters stablecoin reserve by raising $1.5 billion in bitcoin
People walk through the North American Bitcoin Conference held at the James L Knight Center on January 18, 2022 in Miami, Florida. Joe Raedle | Getty Images The Luna Foundation Guard has acquired $1.5 billion in bitcoin to bolster the reserves of its most popular stablecoin, known as U.S. Terra. Stablecoins are cryptocurrencies that aim […]
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New York is close to a bitcoin mining crackdown — here’s what that means for the industry
The state of New York wants to ban new bitcoin mining operations, a move that some industry insiders fear could have a domino effect across the U.S. The bill, which is swiftly making its way through the state capitol in Albany, calls for a two-year moratorium on certain cryptocurrency mining operations that use proof-of-work authentication […]
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Tesla bull Ron Baron says Musk got an ‘incredibly cheap’ deal on Twitter
Ron Baron Cameron Costa | CNBC Ron Baron, one of Tesla’s largest shareholders and CEO of Baron Capital, suggested Thursday that Musk got a good deal on his Twitter acquisition, after earlier calling the Tesla CEO’s involvement in the company “meaningless.” In a statement to CNBC’s Becky Quick, Baron said that, after doing two days […]
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Shopify stock down 13% after earnings miss, $2.1 billion acquisition of logistics start-up
An employee works at Shopify’s headquarters in Ottawa, Ontario, Canada. Chris Wattie | Reuters Shares of Shopify plunged more than 13% in premarket trading on Thursday after the company reported first-quarter results that missed analysts’ estimates, and said it will acquire logistics start-up Deliverr for $2.1 billion in cash and stock. Shopify posted adjusted earnings […]
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World’s second-largest hydropower plant set for 14-year upgrade after deal with GE
Straddling the border between Brazil and Paraguay, Itaipu commenced electricity production in 1984. The technological upgrades being planned for the site are set to take 14 years. Tifonimages | Istock | Getty Images GE Renewable Energy has signed a deal that will see it carry out upgrades to the 14 gigawatt Itaipu hydropower plant, a vast […]
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EBay and Etsy drop on weak guidance as e-commerce crunch continues
An employee walks past a quilt displaying Etsy Inc. signage at the company’s headquarters in the Brooklyn. Victor J. Blue/Bloomberg via Getty Images Etsy and eBay reported better-than-expected first-quarter results after the bell on Wednesday, but the companies gave weak guidance for the current quarter that suggests the e-commerce sector is cooling off after a […]
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Facebook plans to reduce hiring as revenue growth slows and inflation concerns increase
Facebook co-founder and CEO Mark Zuckerberg testifies before the House Financial Services Committee in the Rayburn House Office Building on Capitol Hill October 23, 2019 in Washington, DC. Zuckerberg testified about Facebook’s proposed cryptocurrency Libra, how his company will handle false and misleading information by political leaders during the 2020 campaign and how it handles […]
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France becomes first big European nation to grant crypto giant Binance regulatory approval
Binance CEO Changpeng Zhao gave a keynote at a Paris crypto industry event in April 2022 to debut a new accelerator program for so-called “Web3” start-ups. Benjamin Girette | Bloomberg | Getty Images Binance has been granted approval from regulators to operate its cryptocurrency exchange in France. The company is now listed as a registered […]
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An original Uber, Lyft competitor still trying to build a new rideshare model
Logo for Getaround peer-to-peer car sharing service on the side of a car in the Silicon Valley town of Mountain View, California, August 24, 2016. Smith Collection/Gado | Archive Photos | Getty Images In this weekly series, CNBC takes a look at companies that made the inaugural Disruptor 50 list, 10 years later. After a […]
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California governor issues executive order on crypto as state embraces blockchain technology
California Governor Gavin Newsom speaks at a press conference in Oakland, California, on Wednesday, on Feb. 9, 2022. Medianews Group/east Bay Times Via Getty Images | Medianews Group | Getty Images Tech investors and businesses in California have been betting on crypto for well over a decade. Now, the governor of the U.S. state with […]
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