Tether International Ltd., the holding company behind the largest stablecoin, USDT, posted second-quarter net profit of $4.9 billion. The company held over $162.5 billion in reserves against $157.1 billion in liabilities, the USDT tokens issued, according to the latest attestation by accounting firm BDO. That puts excess reserves at $5.4 billion. Exposure to U.S. Treasuries, … Read more
Microsoft on Tuesday projected second-quarter revenue below Wall Street targets across its business units, stoking fear that macroeconomic headwinds are impacting the cloud business in addition to the PC unit. Revenue growth in the first quarter was Microsoft‘s lowest in five years, and shares of the software giant fell 7 percent in extended trading. Microsoft’s cloud … Read more
US video game giant Activision Blizzard, which Microsoft is in the process of buying, on Monday reported lower sales for the fourth straight quarter, but said the success of its latest Call of Duty installment broke records. The group saw its revenue decline in the third quarter by 14 percent to $1.78 billion(roughly Rs. 14,500 … Read more
Trump Media and Technology Group, the company that owns US President Donald Trump’s Truth Social platform, said it held about $2 billion in “Bitcoin and Bitcoin-related securities” just a few days after significant cryptocurrency bills pushed by Trump advanced in Congress. In a Monday notice, Trump Media said it had acquired Bitcoin (BTC) as part … Read more
US’ Federal Bureau of Investigation (FBI) recorded a significant rise in crypto investment scams in 2023. In its recently released ‘Internet Crime Report 2023′, the FBI claimed that crypto investment scams rose by 53 percent last year. In investment scams, fraudsters offer crypto investment advice to potential victims and get them to invest in fake … Read more
India’s antitrust body has ordered an unusual recall of reports of an investigation that found Apple breached competition laws, after the US giant complained its commercial secrets were disclosed to opponents, including Tinder-owner Match. The move will prolong a procedure, begun in 2021 and already marred by delays, that centres on Apple’s alleged abuse of its … Read more
Apple and chip giant Nvidia are reportedly in talks to invest in OpenAI as part of a new fundraising round that could value the ChatGPT maker above $100 billion (roughly Rs. 7,870 crore), according to media reports on Thursday. The Wall Street Journal first reported on Apple’s interest, citing sources, while Bloomberg News reported on … Read more
China’s Lenovo Group on Thursday posted a worse-than-expected 24 percent fall in revenue for the April-June quarter, hit by a prolonged slump in global demand for personal computers. It makes four consecutive quarters that the world’s largest PC maker has suffered a sales decline and comes after Lenovo reported a 14 percent drop in annual … Read more
Apple’s first generation Powerbeats Pro truly wireless stereo (TWS) headset successor could arrive with a new health monitoring feature. according to multiple reports. The Cupertino company rolled out the release client (RC) for iOS 18 to beta testers on Monday, following the ‘It’s Glowtime’ hardware launch event, and new code in Apple’s software update hints … Read more
WazirX, that recently launched a bounty initiative worth $23 million (roughly Rs. 192 crore), is hoping to get its stolen funds of over $230 million (roughly Rs. 1,924 crore) traced through third party coders and hackers. The exchange, in an update shared on X, noted that it received 80 intents for its bounty initiative within … Read more