By Jonathan Stempel NEW YORK Elon Musk is being accused of insider trading in a proposed class action

INDIANAPOLIS--(BUSINESS WIRE)--Jun 27, 2023--

The Biden administration is poised to issue a proposal as early as Friday ordering automakers to increase the

Bitcoin is trading at its highest level in more than 18 months, with its price up more than 100 per cent since the start of 2023. The rally has pushed bitcoin’s market cap above $700 billion and the overall crypto market close to $1.5 trillion. The figure is still a long way from its all-time high of around $3 trillion, which was reached at the end of 2021, however some crypto analysts believe the recent gains are the beginning of another record-breaking run. Bitcoin’s hash rate – which denotes how much computing power is required to verify transactions and generate new units of the cryptocurrency through a process called mining – hit a record high this week, according to data from Blockchain.com. This signals a resilient network, with hopes of future price gains attracting an increasing number of miners. Recent reports have revealed significant investment in cryptocurrency mining from both state-backed and commercial ventures. Tether, the issuer of the stablecoin USDT is planning to invest $500 million in mining, while satellite imagery analysed by Forbes suggests Bhutan’s government is establishing a massive bitcoin mining operation in the foothills of the Himalayas. Separate data reveals that miners have been profiting from cheap energy sources to reduce their average BTC production cost by 35 per cent from $21,100 to $13,800. “This data underscores a considerably stronger profitability in the mining sector compared to the challenges experienced throughout 2022 and part of 2023,” said research analyst Matteo Greco from the fintech investment firm Fineqia International. In roughly six months, bitcoin will undergo an event known as a “halving”, which will see the amount of new bitcoins awarded to miners cut by half. The event was hardcoded into bitcoin’s underlying blockchain by its pseudonymous creator Satoshi Nakamoto, who introduced it as an anti-inflationary measure when the cryptocurrency first launched in 2009. Taking place approximately every four years, the build up to the halvings have traditionally been the most profitable time for crypto investors. “Buy bitcoin six months before a halving and sell 18 months after a halving has historically beaten ‘buy and hold’ trading strategy,” Dutch crypto trader PlanB wrote earlier this year. “The next halving is April 2024... Will this strategy work again?” Read More Google issues one-week deadline to Gmail account holders UK and South Korea issue warning over North Korea-linked cyber attacks Researchers warned of dangerous AI discovery just before OpenAI chaos Crypto experts predict which bitcoin rivals to look out for

MILAN (Reuters) -Telecom Italia (TIM) on Wednesday reported an 8.6% rise in core profit for the third quarter, as an

By Josh Ye HONG KONG (Reuters) -China's Tencent Holdings posted a smaller-than-expected 11% rise in second-quarter revenue on Wednesday, as

(Reuters) -Reddit is laying off roughly about 5% of its workforce, or 90 employees, and slowing hiring as part of

AUSTIN, Texas--(BUSINESS WIRE)--Jun 5, 2023--

Punchmade Dev said, 'I've been sitting in Ross's bank account for about two months now just watching his transactions go in and out'

Nasa has named Jeff Bezos’s Blue Origin as the second company to build a lunar lander under its Artemis program, which aims to return astronauts to the Moon for the firs time in more than 50 years. The US space agency awarded the first contract to Elon Musk’s SpaceX in 2021 in a $3 billion deal that was disputed by Mr Bezos at the time. Those initial missions using SpaceX’s Starship system are slated for later this decade. “We want more competition, we want two landers,” Nasa Administrator Bill Nelson said at an event in Washington on Friday. “It means you have reliability, you have backups. It benefits Nasa, it benefits the American people.” Today’s announcement evokes deja vu for Amazon.com founder Bezos and defense contractor Dynetics Inc, the head of a partnership with Northrop Grumman. Those companies lost out to SpaceX for the 2021 contract, part of an initial moon lander procurement program. Nasa under that program said it could pick up to two companies, but blamed budget constraints for only going with SpaceX. The new contract is the biggeset ever deal for Blue Origin, which Mr Bezos founded in 2000. The Amazon founder has invested billions of dollars into the company to compete for high-profile commercial and government space contracts with SpaceX. After losing in 2021, Blue Origin unsuccessfully fought to overturn Nasa’s decision to ignore its Blue Moon lander, first with a watchdog agency and then in court. Blue Origin and lawmakers had pressured Nasa to award a second lunar lander contract to promote commercial competition and ensure the agency has a backup ride to the moon. Nasa in early 2022 announced the program for a second lander contract. Nasa chief Bill Nelson said at the time: “I promised competition, so here it is.” Blue Origin has already named its corporate partners for the lunar lander: Lockheed Martin , Boeing, spacecraft software firm Draper, and robotics firm Astrobotic. Northrop Grumman, previously a key partner in Blue Origin’s unsuccessful Blue Moon bid in 2021, switched teams to join its former rival Dynetics. Nasa’s multi-spacecraft plan for the Artemis moonshots involves its Space Launch System rocket launching astronauts toward the moon aboard the Lockheed-built Orion capsule. That will dock in space with a lunar lander that will ferry the crew the rest of the way to the Moon’s surface. Additional reporting from agencies Read More ‘It’s becoming like an airport’: How SpaceX normalised rocket launches Watch live: Nasa reveals who will build second Artemis lunar lander Nasa Mars lander study reveals ‘main source of heat’ on Red Planet Saturn’s rings are no more than 400 million years old – study

A Southern California school board has resolved a dispute with Gov. Gavin Newsom over a social studies curriculum

Arkunir clinches victory in MrBeast's challenge, securing the prize of MrBeast's Twitter income for the following month based on most liked comments