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Crypto Jumps After Elon Musk Confirms He and His Companies Still Own Bitcoin
Bitcoin and other cryptocurrencies rose on Wednesday after Elon Musk confirmed that he and some of his companies are still invested in them. During a conference hosted by the Crypto Council for Innovation on Wednesday afternoon, Musk doubled down on his support. “SpaceX, Tesla, and I own bitcoin,” he said, adding that he also owns ethereum and dogecoin. “We’re not selling any bitcoin, nor am I selling anything personally nor is SpaceX selling any bitcoin.” “I might pump but I don’t dump,” he explained. “I definitely do not believe in getting the price high and selling or anything like that. I would like to see bitcoin succeed.” Speculation over Musk’s investment in cryptocurrency came after he announced in March that Tesla would begin accepting bitcoin as a form of payment for its electric...
‘I’m not happy about it’: Dems torch Biden’s Russian pipeline deal
“I’m not happy about it,” said Sen. Tim Kaine (D-Va.), a member of the Senate Armed Services and Foreign Relations committees. “I’m not happy about it in terms of the Russia politics, and I’m not happy about it in terms of climate change.” Sen. Tim Kaine (D-Va.) speaks during a Senate Health, Education, Labor and Pensions Committee hearing on March 18, 2021. | Susan Walsh-Pool/Getty Images Sen. Jeanne Shaheen (D-N.H.), who co-authored the sanctions regime, said she was “skeptical that [the agreement] will be sufficient when the key player at the table — Russia — refuses to play by the rules.” The Biden administration has effectively concluded that the pipeline will be completed regardless of whether the U.S. moves to stop it. The agreement struck between the U.S. and Germany seemingly puts...
Crypto Exchange Platform FTX Reaches $18B USD Valuation After Raising $900M
FTX has just pulled off the largest fundraiser in the history of cryptocurrency exchanges. Bringing in sums from more than 60 different investors — including SoftBank, Sequoia, Thomas Bravo Ribbit Capital and even other crypto exchanges such as Coinbase and Circle — the major crypto platform raised a whopping $900 million USD, towering over the previous records of Circle’s $440 million USD two months earlier and BlockFi’s $350 million USD back in March. With $1.1 billion USD in daily volume, the exchange is one of the top five in the world. Its Series B round now gives FTX a valuation of roughly $18 billion USD just two years after its launch back in May 2019. Revenues have grown by a factor of 10 over the course of this year alone and have increased by a factor of 75 since its Series A fu...
Could the voting rights fight hinder climate and energy policies?
“We’re really happy that President Biden is elevating these issues and with that speech, not just outlining what the issues are … but also talking about what the solutions are,” said Justin Kwasa, who heads LCV’s voting rights project. Communities of color show greater support than white voters for energy and climate policies such as a climate-focused infrastructure package, nationwide renewable energy standard, energy efficiency programs and regulatory action on carbon emissions. “We know Black and brown people are more likely to vote for the policies that we really need to save our environment,” said Heather McTeer Toney, a former EPA official under the Obama administration who is now a senior adviser to Moms Clean Air Force. “An attack on voting rights and attempts for...
KSI’s ‘All Over The Place’ Races to U.K. Chart Lead
KSI will hope to go one better than the performance of his debut album Dissimulation, which peaked at No. 2 in 2020. Also new to the chart blast is John Mayer with Sob Rock (Columbia), his eighth studio album. It’s at No. 3 on the midweek chart, and should give Mayer his third U.K. Top 10. Just one place behind is Pop Smoke’s second posthumous LP, Faith (Republic Records), new at No. 4 midweek. Meanwhile, Hail Satin (Columbia), the Record Store Day release from Foo Fighters, as the disco alter-ego Dee Gees, is tracking for a No. 7 bow. If it holds it momentum, it’ll mark the Foos’ 12th Top 10 album. Over on the Official Singles Chart Update, Ed Sheeran stays on track for a fourth week at No. 1 with “Bad Habits” (Asylum), ahead of the fast-rising “Heartbreak Anthem” by Galantis, ...
Farm Aid to Return Live in September With Willie Nelson & More: ‘We Need Each Other’
Farm Aid’s mission is to build a strong, family-farm-centered system of agriculture in America. Since 1985, with the support of artists who contribute their performances, the organization has raised more than $60 million to support programs that help family farmers thrive and expand the markets for their food. “Live performances by artists who are passionate about agriculture and good food are the deep roots that sustain Farm Aid’s year-round work for family farmers,” says Farm Aid executive director Carolyn Mugar. More than a concert, the Farm Aid festival is an annual gathering place for activists involved in the Good Food Movement and related concerns with the environment and social justice. Attendees in Hartford will have access to Homegrown Concessions, Farm Aid’s trademarked menu of ...
Manchin backs Stone-Manning to lead Bureau of Land Management
Tracy Stone-Manning listens during a confirmation hearing for her to be the director of the Bureau of Land Management on June 8, 2021. | Alex Brandon/AP Photo Sen. Joe Manchin (D-W.Va.) plans to support the nomination of Tracy Stone-Manning to lead the Bureau of Land Management, a spokesperson confirmed Monday, a major boost for the nominee who is facing strong GOP opposition because of her connection to radical environmentalists in the 1980s. Manchin’s support likely ensures the Energy Committee he chairs will deadlock on the Stone-Manning selection when it considers the pick on Thursday. All 10 Republicans wrote a letter last week urging President Joe Biden to abandon the pick over her role in a tree spiking incident carried out by members of the group Earth First! that was designe...
Bill Ackman on Pivoting UMG Bid: ‘There’s No Business I Have More Confidence In’
In an interview with Billboard, Ackman emphasized that Pershing Square — the hedge fund with $13.7 billion under management, not the SPAC it founded — will step in and acquire a stake in UMG. “Our largest investment is going to be Universal Music Group, so that should tell you something,” he says. “There’s no business I have more confidence in the long-term trajectory of than this company — or the music industry in general. Piracy almost killed this business and streaming has made it better than it was with CDs and records in the ’90s.” Ackman likes that companies such as Apple, Google and Amazon shoulder the load of building the streaming services and acquiring customers, leaving record labels to develop, promote and license their music. “You have the most well capitaliz...
Saudi Arabia Buys Stake In McLaren in £550 Million GBP Deal
British automotive producer McLaren has raised £550 million GBP, approximately $757 million USD, in a deal that now sees Saudi Arabia’s Public Investment Fund as a minority shareholder in the supercar company. Saudi Arabia’s involvement in the U.K. auto company is a part of the brand’s recent shakeup of the group. £400 million GBP of the investement comes from Saudi Public Investment Fund (PIF) and Ares Management as a form of preference shares. Both organizations are set to be minority shareholders following the deal. The remaining £150 million GBP of the investment comes from Bahrain’s Mumtalakat, which is already an existing investor. According to the Financial Times, the company has reportedly been in talks to raise the half a billion GBP. McLaren’s chief ...
Netflix Hires a Former EA Exec and Damien Hirst Drops His First NFTs in This Week’s Business and Crypto Roundup
Many brands are starting to see a recovery despite the challenges initially brought on by the pandemic. Some businesses, especially ones that focused efforts on expanding e-commerce ventures, have even seen profits rise even higher than before. HYPEBEAST has rounded up the top business and crypto stories of the week so you can stay in-the-know about trends across industries. Business 1. The winner of the first seat on Blue Origin‘s upcoming spaceflight cancels due to ‘scheduling conflicts’ Blue Origin announced the news in a press release on Thursday, saying that 18-year-old Oliver Daemen will make the journey instead. The unknown auction winner had paid $28 million USD for the opportunity. Welcome to the crew, Oliver! We’re grateful to have you as our first customer to mark the begin...
Winner of $28 Million USD Blue Origin Space Ticket Can’t Go Anymore Due to ‘Scheduling Conflicts’
The winner of the first seat on Blue Origin‘s upcoming spaceflight, who paid $28 million USD at auction for the opportunity, has chosen to give up their seat due to “scheduling conflicts.” Blue Origin announced the news in a press release on Thursday, saying that 18-year-old Oliver Daemen, who is studying to obtain his private pilot’s license, will make the journey instead. He joins CEO and founder Jeff Bezos, his brother Mark and 82-year-old Wally Funk, and will make history as the youngest person to travel to space. The company initially announced the auction winner last month, keeping the name of the soon-to-be space explorer quiet. According to Blue Origin, nearly 7,600 people registered to bid from 159 countries. The winner has chosen to fly on another date, the company said, adding t...
Netflix Hires Former EA Executive to Lead its Gaming Venture
Netflix has hired a former Electronic Arts and Facebook executive to spearhead its new venture into gaming. Mike Verdu — the former Facebook vice president heavily tied to working with developers on Oculus — joins Netflix as vice president of game development. Amongst the many titles worked on, Verdu was also instrumental in the Star Wars and Sims video game franchises for EA. According to a report by Bloomberg, the streaming giant looks to offer gaming “within the next year” on its platform. Verdu has noted that gaming, like other immersive technology, is “an important sort of modality to deepen that fan experience.” Netflix shares rose as much as 3.3 percent to $566 USD after Bloomberg broke the news. Although a bold move, entering the gaming world is showing to be the right directi...
