Core Scientific, among the largest publicly traded crypto mining operators in North America, sold almost all of its bitcoin holdings last month.
Why it matters: Crypto miners typically enjoy fat profit margins comparable to that of the luxury goods sector, but with bitcoin falling below $20,000 last month, some operators have started strategically selling crypto stockpiles to weather market turmoil.
Chinese automaker BYD, which is backed by Warren Buffett, has surpassed Tesla in sales of electrified vehicles.
Driving the news: BYD sold 638,157 electric or plug-in hybrid passenger vehicles in the first six months of 2022, according to company filings published on July 3.
Lawmakers in the European Union last week reached a provisional agreement that extends traceability requirements to include digital assets.
Why it matters: Privacy is central in crypto. The industry has long argued as much, with more than 40 crypto firms in April protesting transaction detail disclosures in a letter to the EU.
America's new abortion reality is turning tech firms' data practices into an active field of conflict — a fight that privacy advocates have long predicted and company leaders have long feared.
Why it matters: A long legal siege in which abortion-banning states battle tech companies, abortion-friendly states and their own citizens to gather criminal evidence is now a near certainty.
YouTuber-turned-boxer Jake Paul has been busy in his new venture capital job, getting to just over $23 million in assets under management, and deploying $20 million via various fund vehicles.
Driving the news: Anti Fund, the rolling VC fund Paul started with entrepreneur Goeffrey Woo last year, is debuting a content-focused hub.
Colorfully lit drones will be flying in patriotic formations over cities and towns across the U.S. this July 4th as a newfangled alternative to fireworks — particularly in the bone-dry West, where sparks can cause catastrophic wildfires.
Why it matters: Finally, there's an appealing alternative to traditional pyrotechnics, which critics have been hating for years (due to noise, pollution, injuries, and environmental harm).
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