Telegram’s financials: It’s a loss-making company (which holds a lot of crypto)
The financials, filed in the British Virgin Islands, show revenue of only $342 million and a net loss of $259 million in 2023.
The financials, filed in the British Virgin Islands, show revenue of only $342 million and a net loss of $259 million in 2023.
Rightmove shares jumped on the FTSE after Rupert Murdoch-backed REA Group expressed an interest in a takeover bid.
From Bitcoin starting September with a dip to Coinbase revealing AI crypto traders, here is a 2-minute breakdown of everything important that happened in crypto today.
Metaplanet said it was adopting bitcoin as a reserve asset to hedge against the volatility of the yen in May and had accumulated a total of 360 BTC by mid-August.
FTX promised to repay up to $16.3 billion to users, but the SEC is concerned about refunds made through stablecoins.
The Monday session has seen the USD rally a bit against the Japanese yen, showing signs of a potential longer-term recovery. At the very least, the pair had gotten viciously oversold, and a bounce was more likely than not.
The Aussie dollar has been somewhat quiet during the Monday session, which makes sense, as the Americans and Canadians are away for the Labor Day holiday. Furthermore, the pair is a bit stretched at this juncture, so a breather or sorts is probably needed for this market.
According to Cointelegraph, the Qatar Financial Centre (QFC) in Doha has unveiled a comprehensive regulatory regime for digital assets. This initiative aligns with the Qatar Central Bank’s strategy and involves the Qatar Financial Centre Authority (QFCA) and Qatar Financial Centre Regulatory Authority (QFCRA). The framework establishes a foundation for digital assets within the QFC, including tokenization processes, legal recognition of property rights in tokens and underlying assets, custody arrangements, and transfer and exchange mechanisms. Additionally, it includes provisions for the legal recognition of smart contracts.The QFC operates independently from the mainland, similar to free economic zones in the United Arab Emirates, with its own legal, regulatory, tax, and business framework. It allows up to 100% foreign ownership and repatriation of profits and charges a competitive 10% corporate tax on locally sourced profits. The new framework aims to ensure that the digital asset ecosystem within the QFC is secure, transparent, and adheres to international standards. It sets standards for asset tokenization and aims to build trust and confidence among consumers, service providers, and stakeholders.Qatar Central Bank Governor His Excellency Sheikh Bandar bin Mohammed bin Saoud Al Thani stated that the new regulations are a milestone in realizing the country’s Third Financial Sector Strategy, which was launched in November 2023. This strategy aims to create a capital market to unlock Qatar’s economic potential and includes embracing emerging technologies to accelerate digital transformation. The digital assets framework is the result of collaboration and consultation with industry stakeholders, developed with input from an advisory group of 37 domestic and international organizations in the finance, technology, and legal sectors.Since the launch of its Digital Assets Lab in October 2023, the QFC has accepted more than 20 startups to develop, test, and commercialize their products and services. This initiative supports Qatar’s broader digital transformation goals and positions the country as a significant player in the global digital assets market.
The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 2 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
September 2, 2024 - Cryptocurrency investment products have experienced major outflows in recent weeks.