Saudi Arabia has reportedly slashed its exposure to Tesla. Part of the SEC’s complaint against Tesla and Elon Musk last year was related to Musk’s claims that Saudi Arabia was backing him in taking the company private. The SEC fined Tesla and Musk separately for $ 20 million each in the debacle. According to the Financial Times, the Saudi Public Investment Fund made a move on January 17th to hedge its investments against expected damage to TSLA stock. They retain their 4.9% holdings in TSLA, but they will not actually lose any money if things go south for TSLA. The arrangement
The Indian government has reportedly filed an affidavit with the country’s supreme court detailing its progress on cryptocurrency regulations. “Serious efforts are going on” to prepare the draft crypto bill and report, the government explained. The two are expected to be discussed by the inter-ministerial committee by next month.
Thailand’s Securities and Exchange Commission (SEC) has reportedly revealed that it expects to approve the country’s first portal for initial coin offerings (ICOs) this month, with ICO approvals to follow. According to the country’s crypto regulation, a portal’s role is to examine companies planning to launch an ICO.
Approval Expected in November
The Thai SEC expects to approve the country’s first ICO portal this month and the first ICO next month, local media reported on Thursday. Rapee Sucharitakul, secretary-general of Thailand’s SEC, was quoted by the Nation as saying:
Mike Novogratz, a prominent cryptocurrency investor, and CEO of Galaxy Investment Partners has toned down his optimism, reiterating that he doesn’t expect a price surge in the price of Bitcoin until institutional adoption occurs, which could happen in the first half of next year. Speaking with Bloomberg’s Erik Schatzker on “Bloomberg Markets: The Close,” the
The post Novogratz Says Cryptos Are Safe, Expects Bitcoin to Rally In Q1 2019 appeared first on CCN
This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. A new French exchange focuses on security and regulatory compliance as a part of its plan to become the European market leader by 2020. A new exchange —
The post A New Regulatory Compliant Exchange Expects 170.000+ Users from Day One appeared first on CCN
Blockchain startup Ripple has announced that a commercial application of its cryptocurrency-based product may arrive “in the next month or so.” The head of regulatory relations for Ripple’s Middle East and Asia-Pacific sectors, Sagar Sarbhai, stated that the firm was witnessing significant progress with its xRapid product, which speeds up transactions at banks using XRP. Sarbhai […]
The Thai financial regulator is expected to approve five ICO projects once the new regulatory framework takes effect this month. Out of 50 ICO projects in the country, only five satisfy the registration requirements set out by the regulator this week.
Five ICO Projects Expected to be Approved
The Thai Securities and Exchange Commission (SEC) is expected to approve five initial coin offering (ICO) projects once the law to regulate cryptocurrencies and ICOs goes into effect, according to the Bangkok Post. The Commission approved the relevant regulations earlier this week and expects them to become law by the end of the month, as news.Bitcoin.com previously reported.
Nvidia announced that they had a successful 1st quarter in terms of sales, in part due to the fact that cryptocurrency-related sales boosted their revenues by 10%. Despite the good news, Nvidia expects that the sales generated by cryptocurrency enthusiasts will decrease by over ⅔ over the 2nd quarter, which ends in 2 months.
Nvidia’s Growing Business: Did Crypto Sales Help?
Nvidia’s Thursday release of their Q1 financial reports has shown that their revenues have gone up from $ 1.9 billion in Q1 of last year to a staggering $ 3.2 billion during this year’s first quarter. The latter figure is a ~$ 300 million dollar increase in revenue compared to the figures reported in Q4 of last year.
Bitcoin China chief executive Bobby Lee remains defiant in the face of the Chinese government, saying that Bitcoin will continue to thrive and go up in value.
It’s always refreshing to come across a person who remains unbowed in the face of stiff opposition. One such person is Bobby Lee, the chief executive of Bitcoin China, the longest-running Bitcoin exchange in the world until it was shut down by the People’s Bank of China. Despite this, Bobby Lee remains defiant against the authorities in China by staying extremely optimistic on the future of Bitcoin.