Cryptocurrency prices stabilized following their high-profile slump Wednesday, with bitcoin hovering at around $40,000. Bitcoin has fallen about 30% in the past month, and even more since it hit a high of about $65,000 in mid-April. Wednesday’s frenzy initially appeared to overwhelm the industry’s trading infrastructure, with several exchanges going offline temporarily. But crypto evangelists...
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Google, Nvidia and Microsoft Offer What VCs Can’t
Welcome back,Amid all the hype for generative artificial intelligence, some venture capitalists have refused to join the fray. These young companies need so much capital and so much computing resources, the VC skeptics say, that they’ll have little chance of competing against Google, Amazon and other big tech companies that may soon have similar products.Our recent reporting this week was a...
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MoonPay CEO, Other Executives Cashed Out Before Crypto Business Dropped
In November 2021, just as crypto prices were hitting all-time highs, MoonPay—a crypto payments startup that celebrities including Jimmy Fallon and Paris Hilton had praised for its non-fungible token “concierge” service— announced it had completed its first ever outside fundraising: an eye-popping $555 million round at a $3.4 billion valuation from investors including Tiger Global Management and Coatue Management.