SVB Financial Group Places Cryptic Bitcoin Message in Annual Report
Late Thursday evening when Gil Luria of Wedbush Securities and Iannounced on Twitterthat Fortress Investment Group (NYSE: FIG) is probably the first public company to purchase and hold Bitcoin, there was an additional filing that same evening I made note to review. This filing with the Securities and Exchange Commission was theannual report (10K) for SVB....
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Block number 448064 on the Bitcoin blockchain contains a cryptic and romantic love letter written in the form of transactions. You + Me = ฿. The Bitcoin blockchain is known for its immutable and transparent nature, which makes Bitcoin the perfect protocol for the decentralized transfer of value. Transactions are permanent and can not be changed or erased. They are also public for the whole world to see. These same characteristics also make it the perfect place to store records and apparently love letters! Although the Bitcoin blockchain has been used to prove far more formal things like....
XRP and crypto enthusiasts at large found themselves embroiled in speculation after tech magnate Elon Musk took to Twitter to share an enigmatic message that read, “In X S.” The XRP community, known for their dedication to Ripple’s digital asset, quickly linked the solitary “X” to their beloved XRP logo, while the Shiba Inu aficionados […]
The Financial Stability Oversight Council (FSOC), a group of U.S. regulators, warned that bitcoin and blockchain are threats to financial stability and noted they need to adapt to the changing market structure if cryptocurrency reduces the importance of traditional centralized intermediaries. The FSOC includes the Federal Reserve, the Securities and Exchange Commission and the Treasury Department. The Council is charged with identifying risks to the financial stability of the United States, promoting market discipline, and responding to emerging risks to the stability of the financial....
The US Securities and Exchange Commission’s (SEC) annual enforcement report for Fiscal Year (FY) 2023, detailing the filing of 784 enforcement actions, orders for nearly $5 billion in financial remedies, and distribution of nearly $1 billion to harmed investors, has sparked a fervent response from the XRP community. SEC Chair Gary Gensler emphasized the significance […]
A recent report from the Annual Economic Report came with several insults on Bitcoin. According to the report, crypto is not money but a speculative asset. One which carries no real value. It highlighted that Bitcoin and other cryptocurrencies have very few redeeming qualities when it comes to the public good. “By now, it is […]