The US government relies on a network of computers to generate payments out of thin air, including some transactions that remain entirely undocumented, according to Elon Musk. In a new interview on Senator Ted Cruz’s Verdict podcast, Musk says the Department of Government Efficiency (DOGE) has now discovered about 14 “magic money” computers. Musk tells […]
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U.S. Treasury Secretary Scott Bessent says that the US would be going through a financial crisis if it had kept up its spending habits. In a new interview on NBC’s Meet the Press, Bessent says he’s not worried about the current downturn in the stock market, which has wiped out trillions of dollars in equity […]
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China, Japan and the UK are dumping billions of dollars in US Treasuries. New numbers from the Treasury Department show the three nations collectively slashed their holdings by $81 billion in December. China unloaded $9.6 billion in Treasuries, reaching its lowest holdings since 2009 at $759 billion. Japan sold off $27.3 billion in bonds, with […]
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Chinese state-sponsored hackers have breached hundreds of devices at the US Treasury Department, according to a new report. The attackers accessed 400 laptop and desktop computers at the department including Treasury Secretary Janet Yellen’s computer, reports Bloomberg, citing two people familiar with the matter. An early investigation has found employee usernames and passwords were accessed, […]
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The UK Treasury has amended finance laws to clarify that crypto staking isn’t a collective investment scheme, which a lawyer says is “heavily regulated.”
The UK Treasury has amended a law clarifying that crypto staking — necessary for proof-of-stake blockchains such as Ethereum and Solana — doesn’t fall under the definition of a “collective investment scheme,” which is typically heavily regulated.
A Jan. 8 order from the department amends a section of The Financial Services and Markets Act 2000 about group investments, adding that “arrangements for qualifying cryptoasset staking do not amount to a collective investment scheme [CIS].”
It clarifies that “qualifying cryptoasset staking” means validating transactions on a blockchain, a distributed ledger technology network “or other similar technology.”
Critics call it heedless; supporters say it’s brilliant. Either way, Michael Saylor continues doubling down on Bitcoin.
MicroStrategy co-founder Michael Saylor has adopted an aggressive Bitcoin acquisition strategy that onlookers say is either a visionary stroke of genius or a reckless gamble.
Those in the latter camp warn that MicroStrategy’s heavy reliance on a volatile asset like Bitcoin is fraught with risk. A significant drop in Bitcoin’s price could strain the company’s balance sheet and heighten financial pressures, potentially undermining its ability to meet debt obligations or raise additional funds.
Despite the risks, Saylor remains resolute. The American entrepreneur says he has “no reason to sell the winner.”
Treasury Secretary Janet Yellen is urging Congress to act as the debt ceiling deadline approaches. In a letter to Speaker of the House Mike Johnson, Yellen says the government will likely reach its debt limit sometime in January, largely because of obligations related to Medicare payments – forcing the government to take “extraordinary measures” to […]
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The US Treasury Department says a post-mortem of a recent data breach shows state-sponsored Chinese hackers are behind the attack. In a letter to the Senate Banking Committee, Assistant Secretary for Management Aditi Hardikar says the Treasury Department suffered a “major cybersecurity incident” after receiving a notice from third-party software service provider BeyondTrust on December […]
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Corporations are fueling the bitcoin boom, with top 60 public companies amassing 591,368 BTC—Microstrategy dominating the list with an unrivaled 444,262 bitcoins. Top 60 Bitcoin-Holding Corporations—The Hidden Titans Fueling the BTC Boom Microstrategy’s executive chairman, Michael Saylor, shared a detailed list on social media platform X on Friday, revealing the top 60 publicly traded companies […]
Canadian-based gold tokenization firm Matador Technologies wants to diversify away from Canadian dollars and is adding Bitcoin to its balance sheet.
Canadian real-world asset tokenization firm Matador Technologies has become the latest company to incorporate Bitcoin into its treasury.
The firm said on Dec. 23 that its board of directors unanimously approved adding Bitcoin (BTC) and “USD-denominated assets” to its balance sheet as part of what it called a “long-term capital preservation strategy.”
Matador said it had identified risks associated with its current treasury primarily denominated in Canadian dollars.
