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Tesla’s latest filing with the U.S. Securities and Exchange Commission (SEC) shows that the fair market value of the company’s bitcoin holdings was $191 million at the end of 2022. In addition, billionaire Elon Musk’s electric car company recorded $204 million of impairment losses resulting from changes in the prices of bitcoin. Tesla’s Digital Assets and Its Bitcoin’s Fair Value Elon Musk’s electric car company, Tesla (Nasdaq: TSLA), filed its annual report for the year ended Dec. 31, 2022, with the U.S. Securities and Exchange Commission (SEC) on Monday. The filing shows that the fair market value of Tesla’s BTC holdings was $191 million at the end of 2022 while their carrying value was $184 million, as Bitcoin.com News previously reported. “As of December 31, 2022, and 2021, the carrying value of our digital assets held was $184 million and $1.26 billion, which reflects cumulative impairments of $204 million and $101 million,...

Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. South Bend, Indiana, 31st January, 2023, Chainwire Leading enterprise blockchain solutions provider SIMBA Chain announces it has been selected for a $30M STRATFI with the U.S. Air Force (USAF), following up on multiple projects the company has completed for the military branch in recent years. The USAF STRATFI is focused on identifying and advancing technologies that have the potential to secure its future dominance. The $30M investment reflects a significant budget increase compared to previous blockchain initiatives, and will focus on the development and deployment of blockchain applications in supply chain management. These programs are designed to be used by the Office of the Undersecretary of Defense for Research & Engineering, the USAF, U.S. Navy, U.S. Army, and the Defense Logistics Agency. Commenting on the new...

Strong corporate earnings and investors’ anticipation of a Federal Reserve pivot are helping to cement the case for risk assets like Bitcoin. Bitcoin (BTC) price broke above $22,500 on Jan. 20 and has since been able to defend that level — accumulating 40.5% gains in the month of January. The move accompanied improvements in the stock market, which also rallied after China dropped COVID-19 restrictions after three years of strict pandemic controls. E-commerce and entertainment companies lead as the year-to-date market performers. Warner Bros (WBD) added 54%, Shopify (SHOP) 42%, MercadoLibre (MELI) 41%, Carnival Corp (CCL) 35% and Paramount Global (PARA) managed a gain 35% so far. Corporate earnings continue to attract investors' inflow and attention after oil-producer Chevron posted the second-largest annual profit ever recorded, at $36.5 billion. More importantly, analysts expect Apple (AAPL) to post a mind-boggling $96 billion in earnings for its 2022 on Feb. 2. The $2.3 trillio...

Circle has released its reserve report for December 2022 highlighting over-collateralized asset holdings currently backing 44.5 billion USDC tokens in circulation. USD Coin (USDC) issuer Circle has released an accountant-verified report of its treasury reserve holdings backing more than $44.5 billion worth of tokens currently in circulation. Circle’s December 2022 reserve report, which was reviewed by GrantThornton accountancy group, breaks down the current make-up of the stablecoin issuer’s reserve vault. According to Circle, 44,553,543,212 USDC is currently backed by $44,693,963,701 U.S. dollars held in custody accounts. It is worth noting that a significant portion of the latter amount is invested in a variety of U.S. Treasury bonds. As per Circle’s VP of accounting Timothy Singh, the fair value of assets in the USDC reserve is the total balance of USD denominated assets, including a mix of cash and treasury bonds. Circle’s Reserve Fund is registered as a government money market...

  LUNC, a token worth roughly over $1 billion on the Terra Classic protocol, is edging closer to a 17.54% move that could propel it to $0.00021. Meanwhile, the 50th largest cryptocurrency’s value increased by 6.5% in 24 hours and is trading at $0.0001775 at the time of writing. Investors are preparing for the expected outcome by taking up new positions in LUNC, according to data from CoinMarketCap, showing a 48% spike in the 24-hour trading volume to $100 million. LUNC/USD price chart A persistent spike in trading volume reveals that investors are enthusiastic about the asset, or the token is aggressively bullish. The high volumes imply demand for LUNC is rising and might validate a sustainable uptrend. Terra Luna Classic Price on The Cusp of a 17.54% Move Terra Luna Classic Price is dancing at the apex of a symmetrical triangle pattern while getting ready to fly above its immediate resistance, as observed at $0.00018 in confluence with the 200-day Exponen...

Bitcoin consolidated on Friday, as traders prepared for the release of the upcoming consumer sentiment figures from the United States. Following a move to a five-month high on Thursday, prices were once again below $23,000. Ethereum also slipped, moving below $1,600 in the process. Bitcoin Bitcoin (BTC) fell back below $23,000 on Friday, as markets consolidated ahead of U.S. consumer sentiment data. BTC/USD slipped to a bottom of $22,654.59 earlier in today’s session, less than 24 hours after hitting a high of $23,215.00. The drop came ahead of this afternoon’s U.S. consumer sentiment report, which is expected to come in at a reading of 64.6. BTC/USD – Daily Chart As can be seen from the chart, the relative strength index (RSI) also edged closer to a floor of 78.00, leading to a slight shift in momentum. The 10-day (red) moving average continues to move in an upward direction, however should the index move below 78.00, this trend will likely reverse. Current...

The Central African Republic (CAR) president, Faustin-Archange Touadéra, recently said his government has established a 15-member committee tasked with creating a comprehensive legal framework that governs the use of cryptocurrencies. According to an official document issued by the CAR cabinet, the committee has already started its work and will regularly update the government. CAR’s Ambitions The Central African Republic (CAR) leader, Faustin-Archange Touadéra, recently revealed that his country has set up a committee that is expected to draft a bill on the use of cryptocurrencies. The committee, which is comprised of 15 experts drawn from various government ministries, is expected to create a legal framework that helps the CAR achieve its goal of becoming a globally recognized blockchain technology-embracing country. 15 experts #centrafricains issus de plusieurs ministères de mon gouvernement composent le comité chargé d'élaborer un nouveau projet de loi plus complet sur...

Fabwelt Partnership with Zebec, a revolutionary DeFi technology that empowers real-time, frictionless, and continuous streams of payments.  Zebec is bringing the blockchain to everyday life. Through their continuous payment technology, changing the way to send and receive money. Fabwelt will use its structured platform with multi-sig wallets to arrange the secure transfer of funds and assets to wallets. As Fabwelt announced its Partnership with Zebec. Zebec Services Revolutionizing Payroll – Allowing employees to be paid by the second Zebec Card  – Spend cryptocurrency on everyday goods and services Treasury Management – Storing funds in secure, multisignature safes Token Management – Distributing and vesting tokens using streaming technology Web3 Banking and More – Save, invest, manage and offramp funds Benefits of Using Zebec Protocol Zebec Pay is redefining payroll for the 21st century. For the first time, employees can be paid instantly, by the second, ...

Roger Ver. Source: a video screenshot. The early Bitcoin (BTC) evangelist and now Bitcoin Cash (BCH) proponent Roger Ver has been sued by the now-bankrupt crypto lender Genesis after failing to meet a $21m margin call. The court action taken by Genesis is related to a crypto options trade that expired late last year, and that Roger Ver – who is often called “Bitcoin Jesus” for his early evangelism – allegedly never settled. Genesis seeks “money damages for defendant’s failure to settle cryptocurrency options transactions that expired on Dec. 30, 2022, in an amount to be determined at trial but no less than $20.9 million,” the lawsuit filing said. The filing was made by GGC International Ltd., an entity registered in the British Virgin Islands that is part of Genesis’ corporate structure. Genesis filed for bankruptcy under Chapter 11 of the US Bankruptcy Code on January 19. An announcement from the company at the time ma...

Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Singpore, Singapore, 24th January, 2023, Chainwire Bunzz a web3 development platform for decentralized applications, has completed a $4.5M seed round. Investors included gjmp, DG Daiwa Ventures, Coincheck, and Ceres. Funding will be used to help build out Bunzz’s Smart Contract Hub, which is already used by more than 8,000 dApp developers. (Product page: https://bunzz.dev/ ) Bunzz has established a strong track record since its launch 11 months ago. Over 8,000 DApp developers have been using the platform, and more than 3,000 DApp projects have been deployed on-chain, making it one of the largest DApp development infrastructures in Asia.  The platform has been recognized by top-tier landmarks as a major infrastructure service in the smart contract development sector. It has been featured on the web3 development in...

Solana (SOL) has witnessed an impressive recovery since the asset’s price cratered following the news of the FTX collapse. However, even with such a remarkable gain this month alone, what are the prospects for this digital asset going forward? SOL Rebounds 100% in January At press time, the price of SOL stands at $24.82, indicating an uptrend of 1.15% in the past 24 hours, putting it in line with the broader market, which is up by 1.26% in the same period. With a gain of well over 100% in the past month, SOL is one of the best-performing top coins in the market. The coin had seen its price crater thanks to continued links to the now-defunct FTX exchange, but this month has brought several impressive gains for it. Solana Benefits From Broader Market Rally So far, there hasn’t been any concrete pointer as to why the price of SOL has risen so much in the past few weeks. The Solana blockchain has been uncharacteristically quiet to start the year as it appears that its deve...

Seasoned Bitcoin market participants are anything but willing to take profit, even with the BTC price up 40% in January. Bitcoin (BTC) refused to surrender gains at the Jan. 23 Wall Street open as United States equities opened higher. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar sags as risk assets reject retracement Data from Cointelegraph Markets Pro and TradingView showed BTC/USD continuing to circle $22,800 at the time of writing. The pair had managed to conserve its trading range over the weekend, with a local low of $22,315 allowing bulls to avoid a major setback. The mood remained buoyant among risk assets on the day, with the S&P 500 up 1.3% and Nasdaq Composite Index trading 2% higher. Gold, too, disappointed those hoping that a retracement would set in after weeks of impressive returns, something analyst Alisdair McLeod put down to classic principles of supply and demand. “Attempts to knock back gold continue to fail,” he commented on the daily XAU/...

Join Our Telegram channel to stay up to date on breaking news coverage Some of the old crypto coins are pumping recently, here is our list of the best altcoins under a dollar that expected to skyrocket in the near future. This article will discuss some of the best cryptocurrencies that can be purchased for less than one dollar that you should consider in addition to your portfolio right now. FightOut FightOut is a move-to-earn mechanisms that is intended to reward community members who pursue a well-rounded approach to physical fitness. FightOut assists users in achieving their fitness goals, whether they desire to lose weight, gain muscle, or enhance their general health. The platform also rewarded users for completing workouts, whether those activities take place in a gym or at home. FGHT Token Presale Update FightOut is in the first round of its presale and  has raised $3.2 million. One FGHT costs $0.0166. 50% additional FGHT tokens are available to presale investors...

The crypto market is on the verge of igniting a sustainable bull run. Bitcoin and Ethereum are on the verge of breaking through to new yearly highs, which could spark a more widespread crypto market rally in the coming weeks. Bitcoin has continued its strong winning streak and spiked over 8.5% to $23,162. The second largest cryptocurrency, Ethereum (ETH), is also experiencing a significant rise as it has increased by roughly 5% to $1,655. Despite the ongoing negative news from two major exchanges, Coinbase and Gemini, bitcoin appears to be ignoring all of the market turmoil this week. Coinbase Under Fire: How Weak Security Practices Led To A Mass Lawsuit In an effort to keep their class-action lawsuit against the cryptocurrency exchange Coinbase out of arbitration, a group of investors is keeping their account details secret.  They hope that their case will eventually be heard in an American court. Customers are alleging that Coinbase's security measures weren...

Barring a couple of hiccups, Bitcoin has been swiftly recovering since the beginning of the year. Earlier this week, it broke above the $21,000 mark. Despite the Genesis bankruptcy saga unraveling today, BTC managed to hold ground. With the asset trading in the green on the hourly and the daily, bulls seemed to have a slight upper hand at press time. Bitcoin managed to script another record quite recently. As shown below, its RSI peaked above 80 for the first time since 2018, flashing a concrete sign of strengthening momentum. Source: Arcane Research Likewise, even Ethereum has been riding along the bullish wave. Owing to its 10% weekly gain, the largest Altcoin was trading at $1.55k on Friday. Bitcoin, Ethereum decouple from the market As highlighted above, both the largest cryptocurrency assets have been sticking to the same directional bias and trading in tandem with each other. However, their movements have been non-aligned with the equity market. The S&P 500, for ...