business
The biggest crypto heists of all time
The biggest crypto heists to date are MT Gox, Bitgrail, Coincheck, KuCoin, PancakeBunny, Poly Network, Cream Finance, BadgerDAO, Vulcan Forged and Bitmart. MT Gox MT Gox was the first large-scale exchange hack, and it remains the most significant Bitcoin (BTC) heist from an exchange. The MT Gox robbery, on the other hand, was not a one-off occurrence. Rather, the site leaked cash from 2011 to February 2014. Hackers stole 100,000 BTC from the exchange and 750,000 BTC from its consumers over a few years. These Bitcoin burglaries were valued at $470 million at the time, but they’re now worth approximately ten times this amount. Shortly after the theft, MT Gox went into liquidation, with liquidators recovering roughly 200,000 of the stolen BTC. Bitgrail Bitgrail was a small Italian excha...
Joni Mitchell Pulling Music from Spotify in Solidarity With Neil Young
Joni Mitchell is joining her old friend and contemporary Neil Young in having her legendary music catalog pulled from Spotify over concerns about vaccine misinformation being spread on the platform’s popular Joe Rogan Experience podcast. In a brief note posted to her official website on Friday, the singer-songwriter wrote, “I’ve decided to remove all my music from Spotify. Irresponsible people are spreading lies that are costing people their lives. I stand in solidarity with Neil Young and the global scientific and medical communities on this issue.” Explore See latest videos, charts and news See latest videos, charts and news Mitchell’s announcement comes just two days after Spotify confirmed it would be granting Young’s request to have his music removed from the platform. Young made the ...
Jay DeMarcus’ Red Street Records Launches Country Division
Rascal Flatts‘ Jay DeMarcus is expanding his Red Street brand with the launch of Red Street Country after launching the company as a Christian label, Red Street Records, in 2018. DeMarcus, who is Red Street’s owner/CEO, and owner/chairman Dan Crockett are celebrating the label’s expansion with a press conference Thursday (Jan. 27) at the label’s Nashville headquarters. DeMarcus and Crockett are funding both labels, which are self-distributed. Red Street Country’s first signing is singer-songwriter Ryan Griffin, whose self-released single, “Salt, Lime & Tequila,” reached No. 3 on Billboard‘s Country Digital Song Sales chart last year and No. 1 on SiriusXM’s The Highway. Griffin is working on a new album. Several notable music industry veterans have joined the Red Street Country tea...
Bybit announces 2 notable updates: completion of Arbitrum integration, funds BitDAO with $134M
Bybit, a global cryptocurrency exchange that has seen extensive growth over the past few years, has finally completed the integration of the Arbitrum mainnet, according to a press statement published on 27 January. Arbitrum is an Ethereum Layer 2 platform that was among the first to bring the optimistic rollups features to the Ethereum network. According to the press release shared with CoinText, the move means users can now deposit and withdraw Ether (ETH) as well as the stablecoins Tether (USDT) and USD Coin (USDC) via the Arbitrum mainnet. Security, scalability and low cost Ben Zhou, the co-founder and CEO of Bybit said the integration brings Arbitrum’s “promising and innovative scaling technology” to Bybit users. He noted that the exchange will continue to provide next-level products a...
FTX US hits $8BN valuation after securing $400M in Series A funding round
The exchange intends to use the funds to expand its workforce by hiring more experts FTX US, the US affiliate arm of global exchange FTX, has concluded its first funding round, netting $400 million. The fundraising drew support from several huge names, including SoftBank Group, blockchain-focused venture capital firm Paradigm and Singapore-based investment company Temasek. Other participants that featured include Ontario Teachers’ Pension Plan Board, Multicoin Capital, Greenoaks Capital, Lightspeed Venture Partners, Tribe Capital, and Steadview Capital. The exchange is now valued at $8 billion, making it one of the biggest players in the US cryptocurrency sector. This new valuation is at par with the target set by FTX chief executive Sam Bankman-Friend last December. FTX previously c...
Valkyrie aims for ETF linked to Bitcoin mining firms on Nasdaq
Crypto asset manager Valkyrie has filed an application with the United States Securities and Exchange Commission to trade an exchange-traded fund (ETF) with exposure to Bitcoin mining firms on the Nasdaq Stock Market. In a Wednesday SEC filing, Valkyrie said its Bitcoin Miners ETF will not invest directly in Bitcoin (BTC) but at least 80% of its net assets would offer exposure to the crypto asset through the securities of companies that “derive at least 50% of their revenue or profits” from BTC mining or providing hardware or software related to mining. The filing added Valkyrie would invest up to 20% of the ETF’s net assets in companies holding “a significant portion of their net assets” in Bitcoin. Valkyrie launched a Bitcoin Strategy ETF in October 2021, which offered indirect exposure ...
Universal Music Group’s Sir Lucian Grainge Tops Billboard’s 2022 Power List
Sir Lucian Grainge is at the top of 2022 Billboard Power List, two years after he was named Billboard’s executive of the last decade. But this year, there’s a very different reason for his No. 1 ranking: his leadership of Universal Music Group’s historic debut as a public company. It wasn’t just the largest direct listing in the history of the music industry, but one that has helped lift the boats of many music companies — including those of Grainge’s fiercest rivals. The UMG chairman/CEO is one of nine honorees from the company this year, with the other eight also listed below. Sir Lucian GraingeChairman/CEO, Universal Music GroupBoyd MuirExecutive vp/CFO/president of operations, Universal Music GroupMichele AnthonyExecutive vp, Universal Music GroupJeff HarlestonGeneral counsel/executive...
The 2022 Billboard Power List Revealed
Money changes everything. Over the past year new types of investors poured record sums into music, reshaping the power dynamics of the business. So Billboard decided to take a closer look at how the industry’s most powerful executives stack up now. On the list that follows, we rank the top 25 and present the rest in alphabetical order by sector. The sands have certainly shifted since we made our last power list. Sure, Sir Lucian Grainge is still at the top of the heap, two years after we named him our executive of the last decade. But this year, there’s a very different reason for his No. 1 ranking: his leadership of Universal Music Group’s historic debut as a public company. It wasn’t just the largest direct listing in the history of the music industry, but one that has helped l...
Andy Ross Dies at 66: Tributes Pour In for Label Boss Who Signed Blur and Jesus Jones
LONDON – Tributes have been paid to British music executive Andy Ross, a key figure in the 1990s U.K. music scene, who has died at the age of 66. Ross co-ran London-based independent label Food Records with founder David Balfe and famously gave rock band Blur its first record deal, signing the group to the label in 1990 after seeing them perform at the Islington Powerhaus venue months before. Blur’s commercial breakthrough came with its third studio album, Parklife, released on Food Records/EMI in 1994. The album debuted at number one in the U.K., spawning several hit singles, including “Girls And Boys” and its title track, and establishing Blur as leading figures in the ‘Britpop’ era of British guitar bands alongside Oasis and Pulp. Explore See latest videos, charts and news See latest vi...
Beggars Group Names New President
4AD U.S. label manager Nabil Ayers will succeed Matt Harmon as president of Beggars Group’s U.S. operations, the label group announced Tuesday (Jan. 25). Harmon, who has been with Beggars for 24 years, is exiting the company to pursue other opportunities. The label consortium has also promoted Claire Taylor to the role of general manager. Ayers has served as U.S. label manager for Beggars Group subsidiary 4AD since 2009. In his absence, Simon Halliday will continue leading 4AD in his role as worldwide managing director. “We are very grateful to Matt for his contributions over two decades which have brought us such success, but equally excited about Nabil and Claire’s elevations, as we look forward to an even brighter future,” said Beggars Group chairman Martin Mills in a statement. Ayers i...
Netflix Stock Continues Downward Trend After Slowing Subscriber Growth Reports
Since last week’s announcement of Netflix’s Q4 earnings in 2021, the streaming giant revealed that it was unable to meet subscriber growth expectations. The news was reflected in the 20% shares drop, which marked the lowest level of shares for Netflix since June 2020. Now Netflix stocks have dropped almost 3% on Monday, continuing the downward trend, which also suggests that the streaming giant is expected to have a much weaker Q1 start. When the markets opened this week, the streamer opened at $383.91 USD, which fell from $397.50 USD at closing last Friday. At one point, Netflix fell to $351.46 USD, which was its lowest point of the day and over the past year. While last Thursday saw Netflix report a net gain of 8.28 million subscribers for Q4 of 2021, Netflix previously forecasted 8.5 mi...
Neil Young Wants His Music Off Spotify Over Joe Rogan Vaccine Misinformation
Neil Young wants his music pulled from Spotify, citing the spread of vaccine misinformation on the popular Joe Rogan Experience podcast as the cause. “They can have Rogan or Young. Not both,” Young wrote in an open letter to his management team and record label posted to his Neil Young Archives website, according to Rolling Stone. The post has since been removed. “I want you to let Spotify know immediately TODAY that I want all my music off their platform.” Explore Explore Neil Young See latest videos, charts and news See latest videos, charts and news Rogan, who signed a $100 million deal in May 2020 giving Spotify exclusive rights to — but not ownership of — his hugely popular podcast, has come under fire for spreading misinformation on his show about COVID-19 and vaccines. In addit...
