A Delaware judge has sided with Tesla shareholders who filed a lawsuit claiming that Elon Musk unjustly secured a $55 billion CEO compensation plan. The plan is now voided by the court.
It’s unclear what will come out of this unique situation where Musk could potentially have to give back billions of dollars worth of Tesla shares.
In 2018, Tesla shareholders voted for Elon Musk to get a…
Polestar’s first electric SUV, the Polestar 3, is expected to begin rolling out in the US in the next few months. Ahead of its debut, Polestar is already offering a massive $7,500 purchase incentive on a lease of the new electric SUV.
Polestar offers $7,500 discount…
GM 'all-in on EVs' goes back to plug-in hybrids amid setback with its electric car plans
February 1, 2024
General Motors claimed that it is “all-in on electric vehicles” for years, but today, CEO Mary Barra confirmed that the automaker is changing strategy and going back to plug-in hybrids amid setback in its electric car plans.
In 2019, GM killed the Chevy Volt, its…
Stablecoin Market Cap Climbs $4.85 Billion in 30 Days; USDT, USDC, FDUSD Spearhead Growth
February 1, 2024
In the past month, data reveals a significant increase in the combined market capitalization of leading stablecoins, rising from $131.71 billion to $136.56 billion. The top two stablecoins, tether and usd coin, experienced notable expansions in their supplies, with increases of 4.8% and 7.2% respectively.
Stablecoin Economy on the Rise
Over the last 30 days, the stablecoin market experienced a…
Ripple Exec Chris Larsen's XRP Accounts Illicitly Accessed, Crypto Exchanges Freeze Assets
February 1, 2024
On Wednesday, Chris Larsen, the co-founder and executive chairman of Ripple, publicly revealed that several of his personal xrp accounts had been illicitly accessed. Larsen explained that the team successfully persuaded crypto exchanges to promptly freeze the affected…
Vitalik Buterin Explores Crypto-AI Synergy Amidst Rising Interest in Blockchain and AI Applications
February 1, 2024
In a recent blog post, Vitalik Buterin provided a deep dive into the increasingly intertwined worlds of blockchain technology and AI. Buterin offered an insightful analysis of their potential synergies while cautioning about the complexities and risks involved in their…
Grayscale's Bitcoin Trust Sees Reduction Slowdown as New ETFs Gain Ground With Over 160,000 BTC Acquired
February 1, 2024
In the most recent update, Grayscale’s Bitcoin Trust (GBTC) experienced a decrease of 4,461.36 bitcoin, valued at approximately $190.53 million, over the past day. Since Jan. 12, 2024, GBTC has observed a cumulative reduction of about 124,967.54 bitcoin, equivalent to an estimated $5.33 billion. Meanwhile, the nine recently launched spot bitcoin exchange-traded funds have collectively garnered…
SEC Moves to Dismiss Lawsuit Against Crypto Company Debt Box, Citing Inaccuracies in Court
February 1, 2024
The SEC has decided to abandon its lawsuit against Debt Box, a crypto company previously accused of defrauding investors of millions. This decision follows the SEC’s acknowledgment of presenting misleading information in court, a revelation that undermines the agency’s…
China's AML Legal Framework Set to Target Cryptocurrency Transactions in Major Update
February 1, 2024
As part of its ongoing efforts to modernize financial regulations, China is revising its Anti-Money Laundering laws to include stringent measures against cryptocurrency-related transactions. This revision, the first since 2007, aims to plug the legal gaps exploited in the…
Exclusive: Metal unveils new AI assistant for financial services and private equity funds
January 31, 2024
Anyone with experience in or around finance would probably attest that a good chunk of the work is tedious, especially when evaluating the performance of companies over time and their future performance outlook. This holds true for professionals in financial services, where meticulous analysis of financial documents, market trends, and other relevant data is often time-consuming but essential for…
