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TIME Magazine partnered with Grayscale Investments on crypto content

Anna B. — Thu, 15 Apr 2021 11:48:45 +0000

TIME Magazine and Grayscale Investments have partnered on a content series about the crypto space, Decrypt reports. Perhaps even more exciting than the expectations of the upcoming video series is the news that TIME will receive payment in Bitcoin. Moreover, the firm will then add it to the company’s balance sheet without converting BTC into fiat money.

Grayscale Investments is the largest crypto asset manager. In particular, the firm’s total crypto AUM (assets under management) has reached over $50 billion this week, according to Finance Magnates. Citing the company’s announcement on Twitter, the source says Grayscale now manages over $41 billion in Bitcoin, as the BTC price crossed the mark of $64,500 yesterday, April 14.

TIME Magazine’s decision to keep BTC on its balance sheet comes after similar moves by other companies. For instance, MicroStrategy’s reported Bitcoin holdings were 91,579 BTC on April 5. Moreover, just this week the company even decided to pay its board of directors in Bitcoin.

Automaker Tesla purchased $1.5 billion worth of Bitcoin this year. Now, the value of its Bitcoin holdings reached over $2.5 billion because of the BTC price increase, TheStreet reports. Moreover, the company also announced last month that it would be accepting BTC for payment for its cars and keep crypto without converting it into fiat.

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Coinbase’s value reaches $68 billion before listing on the stock market

Anna B. — Thu, 18 Mar 2021 08:17:18 +0000

Coinbase was valued at around $68 billion, Reuters reports, as its upcoming listing on the Nasdaq stock exchange is approaching. It is the largest US-based cryptocurrency exchange and ranks second among crypto exchanges on CoinMarketCap.com. According to Reuters, the company’s stock price per share has increased by almost 13 times, and its valuation is almost 53 times the company’s revenue for the year 2020.

On Wednesday, March 17, Coinbase submitted an amendment to its S-1 filing with the U.S. Securities and Exchange Commission (SEC). In this amendment, the company registered 114.9 million shares to sell before the direct listing on Nasdaq, according to TheStreet. The company first announced its plans to go public in December 2020.

Coinbase is also now hosting “Ask Us Anything” on Reddit, with the CEO and executive team answering questions about their company and cryptocurrency. The thread will be open for users to ask questions until Friday, March 19, at 7 p.m. (PDT), and the company will answer questions that received the most upvotes.

Cryptocurrency exchange Kraken reportedly considers following Coinbase’s example and going public via a direct listing in 2022, Decrypt says. Moreover, a trading platform eToro will also go public and have its Nasdaq stock market listing after completing a merger with FinTech Acquisition Corp. V.

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