Elon Musk-led electric car company, Tesla, has informed the U.S. Securities and Exchange Commission (SEC) in a quarterly filing on Monday that it may restart the practice of transacting in cryptocurrencies for its products and services. Earlier Tesla had suspended accepting bitcoin in May, citing environmental concerns. The company explained that during the nine months ended September 20, it “purchased an aggregate of $1.50 billion in bitcoin.”
The Ripple vs SEC lawsuit continues to drag further with both parties making key arguments. However, many crypto proponents believe Ripple has an upper hand in the case especially with the former SEC executive William Hinman’s deposition and the glaring red flags on Ethereum getting a free pass with a similar business structure. Amid growing support for Ripple and against the SEC, Coinbase CEO Brian Armstrong has come out to claim Ripple is doing better in the lawsuit than expected.
GameStop (GME) is assembling a team of blockchain and NFT experts to work on the firm’s upcoming NFT platform.
The United States territory of Puerto Rico is seeing a resurgence of interest among crypto investors attracted by the fact it doesn’t charge federal income tax and eligible investors can pay zero taxes on their crypto gains.
Meme cryptocurrency Shiba Inu (SHIB) continues with its unstoppable market rally. The Shiba Inu price has shot up another 28% hitting a new all-time high above $0.000050. As of press time, SHIB is trading at $0.00005357 as it topples Terra’s LUNA for the spot of 11th largest cryptocurrency by market cap.
2021 will be remembered as a turning point for the cryptocurrency industry in the US as its regulators began to embrace and accept cryptocurrencies – indicating that they are here to stay.
The lack of trust while engaging with different parties is one of the biggest challenges that people outside the “smart world” face. Due to the lack of transparency, people end up spending a lot of time and money on intermediaries, before finalizing an agreement.
Cryptocurrency exchange FTX, has secured an advertisement spot in one of the most watched events in America — the championship game of the National Football League, to be held in Feb. 2022
Robinhood shares (HOOD) have fallen sharply on the back of the firm’s Q3 results which posted lower than expected crypto trading revenue.