Block's gross profits rose 38% to $1.57 billion, but expenses rose by nearly one-half, resulting in a net loss of $18.7 million, significantly worse than the $3 million loss in Q3 2021.
MicroStrategy's three-month revenue suffered a 2.1% slump from last year as the BTC token, which founder Michael Saylor heavily bet on, found itself in the doldrums following an epic 'crypto' crash.
According to reports on October 25, Block had tapped Perry Hothi, former chief technology officer for Argo Blockchain PLC, to help spur Block’s BTC mining ambitions.
District of Columbia Attorney General Karl A. Racine announced that his office was suing the MicroStrategy founder over allegedly having “lived in the District for more than a decade but has never paid any D.C. income taxes.”
BSV thought leader Joshua Henslee paints a picture of utter carnage in the digital currency industry with the recent crackdowns on popular exchanges, lending platforms, and other companies.
MicroStrategy's Michael Saylor recently said that Bitcoin should not be changed—which is fascinating since usually, BTC maximalists tend to be open to disfiguring the protocol as they please.
MicroStrategy also announced that Michael Saylor is giving up his CEO position to take up a new role as Executive Chairman while retaining his status as Chairman of the Board.
A group of influential BTC investors, including Michael Saylor and Jack Dorsey, recently sent a letter to the EPA outlining what they called "misconceptions" about mining.
On an earnings call this week, CFO Phong Le revealed that MicroStrategy had missed its earnings predictions by almost 800% and faces impairment expenses of over $170M on its digital asset holdings.
Bitcoin is a financial system, and it doesn’t matter whether systems on the network ‘want’ a transaction; it only matters whether something can be legally processed and enforced.
A day after U.S. President Joe Biden signed the executive order on digital assets, the Department of Labor issued a warning about the potential pitfalls of offering digital currencies as investments.