Business – Page 597

Inveniam Capital Partners acquires Storj to promote decentralized data infrastructure

In a move that underscores the growing convergence of decentralized infrastructure and enterprise AI, Inveniam Capital Partners has signed a definitive agreement to acquire Storj, a longtime player in decentralized cloud storage, the company said in a press release Wednesday. Financial details of the transaction were not disclosed. The deal will fold Storj’s distributed storage […]

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Crypto Exchange Kraken Revenue More Than Doubles in Q3 to $648M

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Crypto exchange Kraken’s revenue more than doubled in the third quarter as the crypto exchange moves up to an expected public listing next year. The company, known legally as Payward Inc., brought in $648 million in revenue for the third quarter, a 114% increase over the same period last year. Kraken defines revenue as gross

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BTC, ETH markets steady as traders await CPI and China-US de-escalation signs

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Good morning, Asia. Here’s what’s making news in the markets: Welcome to the Asia Morning Briefing, a daily overview of top stories in US hours and an overview of market movements and analysis. For a detailed overview of US markets, see CoinDesk’s Crypto Daybook Americas. Crypto markets have entered the midweek in a holding pattern.

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UK’s FCA Sues Crypto Exchange HTX for Illegal Promotion of Digital Assets

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The United Kingdom’s Financial Conduct Authority (FCA) said it is suing cryptocurrency exchange HTX for illegally promoting digital asset services in the country. The FCA opened legal proceedings against the exchange, formerly known as Huobi, in the High Court, London, according to an emailed statement on Thursday. The financial regulator previously issued warnings going back

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T. Rowe Price Files to Launch Active Crypto ETF in Strategic Pivot

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T. Rowe Price, the 87-year-old investment firm known for its mutual funds, is entering crypto. On Wednesday, the company filed an S-1 form with the US Securities and Exchange Commission (SEC) to launch the T. Rowe Price Active Crypto ETF. The S-1 is an important regulatory filing that signals a company’s intent to list a

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Stellar Falls 5% Below $0.32 Support

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Stellar’s XLM tumbled 5% on Tuesday, falling from $0.3284 to $0.3119 after breaking below a critical $0.32 support level that had held for weeks. The drop marked one of XLM’s sharpest declines in recent sessions, underscoring renewed bearish momentum in a market largely driven by technicals rather than fundamentals. Selling accelerated around Monday’s session at

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CORZ upgraded to buy; WULF a top choice at B. Riley

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Investment bank B. Riley upgraded Core Scientific (CORZ) to buy from neutral and raised its price target on the stock to $30 from $17, citing strong standalone value and renewed momentum in high-performance computing (HPC). The bank’s analysts expect shareholders to reject Core Scientific’s proposed merger with CoreWeave ( CRWV ) s, noting that the

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Google’s new quantum breakthrough claim could reignite the debate over the Bitcoin threat

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Google said it had achieved a verifiable “quantum advantage” with its Willow chip, completing a calculation that would take classical supercomputers thousands of times longer. The reported breakthrough could reignite a debate in the cryptocurrency community about the possible harmful effects that quantum computers could have on Bitcoin, whose operation and security are built on

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Coinbase opens Amex card with up to 4% back in BTC for US Coinbase One members

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Max Branzburg said the new card is now open to US users who are members of Coinbase One and offers up to 4% back in bitcoin on every purchase.

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Increase in BTC value adds $80 million to the bottom line

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Tesla (TSLA) continued to hold 11,509 BTC worth about $1.35 billion at the end of the third quarter (valued somewhat less today). The rise in bitcoin’s value during the third quarter allowed the company to book an $80 million gain on its holdings. For perspective, adjusted EBITDA for the quarter was $4.3 billion, and the

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