Strategy registered an unrealized gain of $14.05 billion in the second quarter on bitcoin rebound. Robinhood tokens in SpaceX & OpenAI under scrutiny in EU. Apple loses top AI engineer to Meta, and, Bhutan boosting tourism with crypto. Jane King with the latest headlines from the NYSE.
Get the latest news and updates on FINTECH.TV
Thanks, Rey.
Here's a look at your Coin Street headlines.
Strategy will raise $4.2 billion as second quarter unrealized Bitcoin gains hit $14 billion.
The company owns about $65 billion in Bitcoin, making it the largest corporate holder of the cryptocurrency, and it acquired about $6.8 billion of Bitcoin in the three months that ended June 30th.
Strategy shares have soared over 3,300%.
Since CO Michael Saylor began buying Bitcoin in the middle of 2020 as a hedge against inflation, Robin Hood's stock token offerings are under regulatory scrutiny in the European Union.
This S after OpenAI warned investors that the digital brokerage's so-called Open AI tokens do not represent any equity stake in the company.
OpenAI's warning prompted an inquiry by Lithuania's central bank, which serves as Robin Hood's primary.
In the region, Apple has taken another hit when it comes to its AI business.
Its top executive in charge of artificial intelligence models is leaving for Meta.
Wu Ming Pen was in charge of Apple's AI models teams.
Meta will spend tens of billions of dollars on AI-related efforts this year, offering fat salaries for top AI experts, and Bhutan plans to boost its local economy with crypto tourism.
The kingdom.
Bhutan is integrating cryptocurrency payments into its tourism infrastructure in a bid to modernize its economy and attract younger tech savvy travelers.
Country leaders say feedback from tourists had described the bank wire transfers they had used in Bhutan as a thing of the past.
By integrating crypto, he said the country will become more accessible to modern travelers and eliminate frictions in its payment infrastructure, and that's the latest Coin Street headlines.