Jefferies: Tether, which said it held 116 tons of gold in September, is “the largest holder of gold outside central banks”, buying 26 tons in Q3 and 24 in Q2
Remember about a month ago, when gold hit an all-time high, lots of commentators got on their hobby horses to huff about currency debasement?
The S&P downgrades the ability of Tether's USDT to maintain its US dollar peg to “weak”, the lowest rating, citing exposure to high-risk assets such as bitcoin
their only recourse is to attack us because they're losing. Paolo Ardoino / @paoloardoino : System is broken. They're upset we make it evident Matt Cole / @colemacro : If you accep...
An ex-OpenAI staffer of four years says it isn't doing enough to protect users, especially those with mental health issues, and needs to offer more than words
I've read more smut at work than you can possibly imagine, all of it while working at OpenAI. — Back in the spring of 2021 …
President Trump pauses tariffs on most countries for 90 days, setting a 10% “lowered Reciprocal Tariff”, and sets 125% tariffs on China “effective immediately”
- President Donald Trump announced a 90-day pause on the full effect of his new tariffs for at least some countries.
Tech stocks fall after President Trump announced new global tariffs: Meta drops as much as ~8%, Amazon drops ~7%, Nvidia ~5%, Alphabet ~4%, and Microsoft ~3%
Apple slid more than 6% in late trading Wednesday and led a broader decline in tech stocks after President Donald Trump announced …
Trump signs an EO to establish a Strategic Bitcoin Reserve and a Digital Asset Stockpile using BTC and other digital assets forfeited in criminal or civil cases
Now, Trump wants to create a crypto “strategic reserve.” (1/2) @theangrydonkey : Earlier this week, Trump announced the names of five digital assets he expects to include in this ...
Trump signs an EO to establish a Strategic Bitcoin Reserve and a Digital Asset Stockpile using BTC and other digital assets forfeited in criminal or civil cases
US President Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve “just a few minutes ago,” says crypto tsar David Sacks.
Donald Trump signs an executive action to direct officials to create a US sovereign wealth fund and says that it could be used to facilitate a sale of TikTok US
- Fund could be used as US facilitates TikTok sale, Lutnick says — Bessent says fund will be created in the next 12 months
Donald Trump signs an executive action to direct officials to create a US sovereign wealth fund and says that it could be used to facilitate a sale of TikTok US
- Fund could be used as US facilitates TikTok sale, Lutnick says — Bessent says fund will be created in the next 12 months
Sources: Tiger Global marked down its investments in private companies by ~33% across its VC funds in 2022, erasing $23B in value from its portfolio of startups
Wall Street Journal :
Snap reports Q4 revenue flat YoY at $1.3B, vs. $1.31B est., DAUs up 17% YoY to 375M, and a $288M net loss, vs. $23M in net income YoY; stock drops 14%+
whatever their other merits, which may actually be good overall —have been dire for Snap: In the past 4 March quarters, it grew between 38 and 66 per cent, year-on-year. Now, growt...
Sources: Stripe, last valued by private investors at $95B, told staff it cut its internal share price by 28%, lowering those shares' implied valuation to $74B
Payments processor was last valued by private investors at $95 billion — Payments giant Stripe last valued by private investors …
Sequoia, YC, Craft Ventures, and other VCs give startups advice on surviving the downturn; Lightspeed: “boom times of the last decade are unambiguously over”
Wall Street Journal :
Sequoia, YC, Craft, Lightspeed, and other VC firms offer advice to startups to prepare for a downturn; Lightspeed says boom times are “unambiguously over”
Venture-capital firms tell portfolio companies to buckle down for the long haul; ‘before you thrive, you have to survive’
As Meta dips under a $600B market cap, it may avoid antitrust liability since it falls below the threshold set by recent US House bills as a “covered platform”
- Facebook owner Meta closed with a market cap below $600 billion on Tuesday for the first time since May 2020.