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View More NewsIn March 2023, Scout Motors announced it would spend $2 billion to build an electric vehicle (E.V.) factory in South Carolina. The company, a newly launched subsidiary of Volkswagen, would build electric trucks and SUVs. CEO Scott Keogh said the company chose South Carolina because “the state was ready to go.” But it likely didn’t hurt that state lawmakers agreed to provide Scout $1.29 billion in incentives, including $400 million for site preparation. Three years later, Scout has yet to build a single vehicle; it hopes to begin production by 2027. But South Carolina is already $150 million over budget…
Elon Musk’s consideration of a potential merger involving SpaceX, Tesla or artificial intelligence firm xAI has put renewed attention on a lesser-discussed piece of his empire: one of the largest corporate bitcoin holdings in the world.SpaceX and Tesla together hold nearly 20,000 bitcoin, according to public disclosures, a stash worth roughly $1.7 billion at current prices. That would make the entity the world’s seventh largest BTC holder, just behind CoinDesk-owner Bullish’s 24,300 BTC.While any deal remains preliminary and could still fall apart, a combination would concentrate that exposure under a single corporate structure at a time when bitcoin prices are…
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Xi Jinping purges a million officials a year. China’s president finds corruption wherever he looks for it, like a Grand Inquisitor rooting out heresy. Lately, his fury has turned to members of the military command, and on 24 January, the great purge finally reached its zenith—a moment described by Dennis Wilder, former China analyst at the CIA, as “the most stunning development in Chinese politics since the early days of Xi’s rise to power.”As vice-chairman of the Central Military Commission, which heads the armed forces of the Chinese Communist Party (not of China, which has no army), Zhang Youxia was…
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JPMorgan Chase CEO Jamie Dimon reportedly confronted Brian Armstrong during a coffee chat at Davos last week, telling the Coinbase CEO to stop lying…
In brief Prediction markets show nearly 50/50 odds Bitcoin falls to $69K versus recovering to $100K. BTC fell sharply Thursday amid government shutdown fears…
from the de-escalating-the-press-coverage-and-not-much-more dept A couple weeks ago, in the wake of the murder of Renee Good, we wrote about “border czar” Tom Homan’s…
The U.S. government now has the legal title to more than $400 million worth of seized cryptocurrency, real estate and cash linked to the…
Bitcoin price breakouts fail to hold due to insufficient bid-side liquidity. Glassnode analysis identifies the key metrics that are likely to mark the next…
In brief Tokenized stocks and bonds remain subject to existing U.S. securities laws, regardless of whether ownership records are maintained on-chain or off-chain, the…
The media does not fairly cover the conservative Supreme Court justices. But it is not enough to criticize their written opinions. Rather, pundits feel…
With another $25 million from Ripple and $24 million from Andreessen Horowitz (a16z), the crypto industry’s chief campaign-finance fund, the Fairshake political action committee,…
Key takeaways:HYPE surged 60% to $34.90, fueled by institutional investor accumulation from Hyperliquid Strategies and reduced selling after staking unlocks.Bearish liquidations exceeding $20 million…
In brief Brave is launching a multi-week “vault heist” game across its browser, X, and Discord starting February 3. More than 4,000 players have…
The killing of Alex Pretti by U.S. Border Patrol agents in Minneapolis, Minnesota, is hard to defend for anyone who watched the video of…
Optimism’s governance has approved a proposal that links the OP token more closely to the economic performance of the Superchain, marking a notable shift…