Bitcoin News and Finance: What You Need to Know

Entertainment and electronics giant Sony has recently completed the acquisition of Beyond Sports, a company specializing in using real-world data to produce 3D animation. With this purchase, the company is now reportedly able to offer a full metaverse experience for sports matches, complete with tech from other companies already in its portfolio. Sony’s Beyond Sports Purchase Gets It Closer to the Sports Metaverse Sony is now making a foray into the sports metaverse world. The company recently closed the acquisition of Beyond Sports, a 3D imaging and animation company that possesses tech to transform real information from a sports match into a metaverse representation. Numbers for the acquisition were not released, but are believed to be as high as $70 million dollars, according to Nikkei estimations. This purchase, along with the technology of Hawk-Eye Innovations — another company owned by the conglomerate — will allow the company to produce, in real-time, content relating to ba...

New York Attorney General Letitia James has urged Congress to pass a law prohibiting crypto investments in retirement accounts. “Hardworking Americans should not have to worry about their retirement savings being wiped out due to risky bets on unstable assets like cryptocurrencies,” she stressed. NYAG Letitia James Urges Congress to Prohibit Crypto Investments in Retirement Accounts New York Attorney General Letitia James announced Tuesday that she has “urged congressional leaders to adopt legislation that would prohibit investing retirement funds in digital assets, such as cryptocurrencies, digital coins, and digital tokens.” In the letter she sent to Sen. Ron Wyden (D-OR), Sen. Mike Crapo (R-ID), Rep. Richard Neal (D-MA), and Rep. Kevin Brady (R-TX) Tuesday, James wrote: On behalf of the people of the state of New York, I urge Congress to pass legislation to designate digital assets — e.g., cryptocurrencies, digital coins, and digital tokens — as assets that cannot be purchased...

Tesla CEO and Twitter chief Elon Musk has clarified that Sam Bankman-Fried, former CEO of collapsed crypto exchange FTX, does not own any stake in Twitter. This followed an article published by a Bankman-Fried-backed publication suggesting that Musk took $100 million from the former FTX executive. Elon Musk on SBF’s Alleged Investment in Twitter Elon Musk has clarified that Sam Bankman-Fried (SBF), FTX’s co-founder and former CEO, currently owns 0% of Twitter. The confirmation followed an article published Wednesday by Bankman-Fried-backed publication Semafor indicating that SBF owns a $100 million stake in the social media platform. The article claimed to have obtained a private text message between Musk and Bankman-Fried as proof of the stake. Semafor debuted on Oct 18, just a few weeks before the FTX meltdown began . The crypto exchange filed for Chapter 11 bankruptcy on Nov. 11 and SBF stepped down as the CEO. Musk tweeted Wednesday: “Semafor is owned by SBF. This is a massiv...

A well-regulated African cryptocurrency market is needed in order to protect users as well as help countries stop bad actors from using digital assets to circumvent capital controls, the latest post on the IMF blog has said. The blog post reiterated the IMF’s belief that risks to a country are “much greater if crypto is adopted as legal tender.” Crypto’s Volatility Said to Render It an Unsuitable Store of Value The collapse of the cryptocurrency exchange FTX and subsequent crypto market downturn once again highlights the need for better regulation of the industry, the International Monetary Fund (IMF) has said in its latest blog post . According to the blog, in Africa, where the crypto market is rapidly growing, urgent action is also needed in order to block or stop bad actors from using crypto assets to facilitate illegal activities. As per the global lender’s latest blog post, only a quarter of countries in Africa’s sub-Saharan region formally regulate cryptocurrencies. However, ...