Category Archive : Russia

Business Highlights: Energy crunch, mainstream Bitcoin | Taiwan News

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Energy crunch hits global recovery as winter approaches

The world’s facing an energy crunch. Europe is feeling it most as natural gas prices skyrocket to five times what they were at the start of the year, forcing some factories to throttle back production. Gas reserves depleted last winter haven’t been made up, and chief supplier Russia has held back on supplying extra. Fears are rising that Europe will have to ration electricity if it’s a cold winter. China has seen power outages in some towns, the poor in Brazil are choosing between food and electricity and people worldwide are facing higher utility bills. The global economy is using more energy as it rebounds from the coronavirus pandemic, straining gas, oil and other fuel supplies.

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As Bitcoin goes mainstream, Wall Street looks to cash in

NEW YORK (AP) — Whether you love cryptocurrencies or hate the very idea of them, they’re becoming more mainstream by the day. Cryptocurrencies have surged to nearly $2.5 trillion in total value, slightly more than the world’s most valuable company, with more than 200 million users. At that size, it’s simply too big for the financial establishment to ignore. Firms that cater to the world’s wealthiest families are increasingly putting some of their fortunes into crypto. Hedge funds are trading Bitcoin, which has big-name banks starting to offer them services around it. And in the latest milestone for the industry, an easy-to-trade fund tied to Bitcoin began trading on Tuesday.

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Tech, health care stocks lead Wall Street indexes…

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Chainalysis will add Bitcoin to its balance sheet as price surges

Blockchain analytics firm Chainalysis plans to purchase an undisclosed amount of Bitcoin for the firm’s balance sheet through New York Digital Investment Group’s brokerage services.

In a Tuesday blog post, Chainalysis said it will expand its partnership with the New York Digital Investment Group, or NYDIG, to buy an undisclosed amount of Bitcoin (BTC), the price of which reached a five-month high of $63,293 earlier on Tuesday. The firm said the purchase was “guided by strong confidence in Bitcoin” in addition to the NYDIG’s expertise in the digital asset space.

“Chainalysis is laser-focused on its commitment to building trust in cryptocurrency as a digital asset, and we are thrilled to be adding Bitcoin to our corporate investment portfolio,” said Chainalysis co-founder and CEO Michael Gronager. “This is Chainalysis’ first acquisition of cryptocurrency, and we will continue to pursue other digital assets as potential future investments.”

Following a $100 million fundraising round in June, Chainalysis was valued at $4.2 billion. Data from the firm has often been used this year as ransomware hackers demanding payment in cryptocurrency stepped up their attacks. The company investigated Russia-based business Suex OTC, recently targeted by the United States Treasury Department and acquired cybercrime investigative firm Excygent earlier this month.

Related: Chainalysis has crypto’s ‘heightened momentum’ to thank for multibillion-dollar valuation

Chainalysis’ Bitcoin investment will follow purchases from companies including Tesla, Square, Voyager Digital, Galaxy Digital, and MicroStrategy. The business intelligence firm holds 114,042 BTC, worth more than $7 billion at the time of publication. Car manufacturer Tesla currently holds an estimated 43,200 BTC, or roughly $2.7 billion.