VanEck head of digital assets research Matthew Sigel says that S&P Global “snubbed” crypto companies in its latest update of the S&P 500 index. Sigel points out that in an announcement from the S&P Dow Jones Indices (“S&P DJI”) detailing the additions and deletions to its various indices, the biggest crypto firms are noticeably left […]
The post Coinbase, MicroStrategy and Other Crypto Companies ‘Snubbed’ by S&P Global: VanEck Executive appeared first on The Daily Hodl.
While firms like Tesla are already in the S&P 500, VanEck’s Matthew Sigel says Block Inc. could be the first company in the index with an “explicit strategy” for accumulating Bitcoin.
Financial services and digital payments company Block Inc. may become the first company with an “explicit” Bitcoin strategy to be listed in the S&P 500, according to the head of digital assets research at VanEck, Matthew Sigel.
Sigel explained his reasoning on X on Jan. 9, stating that for a stock to be added to the index, which comprises the stocks of the top 500 US companies by market capitalization, six main criteria must be met.
To get listed, the firm must have a market cap greater than $18 billion, a public float of greater than 10%, and the most recent quarter’s earnings should be positive. The sum of the previous four quarters’ GAAP (Generally Accepted Accounting Principles) earnings should also be positive; it should have high liquidity, more than 12 months of IPO (Initial Public Offering) seasoning, and be domiciled in the United States, said the VanEck executive.
A man who claims to be the creator of Bitcoin (BTC) has been declared in contempt of court in the UK. Australian computer scientist Craig Wright has been handed a one-year sentence, suspended for two years, for filing a $1.2 trillion lawsuit against the payments firm Block. The judge says Wright violated a previous court […]
The post Self-Proclaimed Bitcoin Creator Craig Wright Declared in Contempt of Court appeared first on The Daily Hodl.
Block, Inc. has outlined a strategic pivot to expand its presence in bitcoin mining, signaling a commitment to the cryptocurrency sector and its infrastructure needs, according to its recent third-quarter shareholder letter. Block’s New Investment Focus on Bitcoin Mining Infrastructure In a letter to shareholders, Block identifies bitcoin mining as a key growth path, driven […]
Block missed its revenue estimates for Q3 and said it is “winding down” its DeFi business to shift money into its Bitcoin mining and wallet businesses.
Block Inc’s (SQ) shares tumbled early after hours as its Bitcoin revenue flatlined in Q3 compared to the previous year, and total revenues missed Wall Street expectations.
Block shares dropped by 12.3% to a bottom of $66 ten minutes after the closing bell on Nov. 7 after closing the day down 3.05% at $75.27, according to Google Finance.
It’s since recovered to a loss of 1.7% and its share price is up 4.2% so far this year.
Robinhood Crypto LLC has agreed to pay $3.9 million to settle claims it failed to let customers withdraw cryptocurrency from their accounts between 2018 and 2022.
The crypto arm of Robinhood Markets has reached a $3.9 million settlement with California’s Justice Department over claims it stopped allowing crypto withdrawals between 2018 and 2022.
California Attorney General Rob Bonta said on Sept. 4 that it was the first public action against a crypto company by the California Department of Justice.
Bonta had alleged Robinhood Crypto LLC violated the state’s commodities laws by allowing customers to buy crypto without delivering those assets to them and who were forced to sell their crypto to Robinhood in order for their funds to leave the platform.
Binance has assured its users that their funds are safe after Venezuela cut off access to the exchange and social media platform X.
Venezuela’s government has blocked access to crypto exchange Binance, social media platform X and other online services amid unrest over disputed presidential election results.
On Aug. 9, local anti-censorship organization VE sin Filtro posted to X that it “detected a DNS block on the cryptocurrency exchange Binance, which affects the normal operation of its website and mobile application.”
“Like several websites of companies from different segments in Venezuela, including social networks, Binance pages have been facing access restrictions,” the exchange’s Latin American-focused X account posted on Aug. 10.
CANTV, a Venezuelan state-owned ISP, has reportedly started blocking traffic to Binance, one of the largest cryptocurrency exchanges in the world. The company, which controls a significant portion of the Venezuelan broadband market, has left thousands of Venezuelans without access to their savings and even P2P markets, which are popular among those using crypto as […]
The U.S.-based fintech company, Mercury, will offboard startups whose founders reside in or whose businesses are headquartered in 14 African countries and six non-African states. Mercury CEO Immad Akhund stated that this decision impacts customers whose deposits constitute less than 1% of Mercury’s total deposits. Affected Customers’ Deposits Less Than 1% of Mercury’s Mercury Bank, […]
Core Scientific, a large U.S.-based bitcoin mining and hosting provider, and Block, a leading financial services firm, have partnered in a project to integrate the first 3nm bitcoin mining chips produced by the latter. Core Scientific will receive 15 exahash per second (EH/s) of Block’s mining ASIC chips, with the possibility of ordering additional silicon […]