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. Facebook changed its company name to Meta
2. Alphabet brought in $65 billion USD in Q3
3. FaZe Clan announces plans to go public
Esports giant FaZe Clan announced its plans to go public on Monday through a merger with B. Riley Principal 150 Merger Corp. The combined company is expected to have an implied equity valuation of approximately $1 billion USD, including nearly $275 million USD in cash.
Esports giant FaZe Clan announced its plans to go public on Monday through a merger with B. Riley Principal 150 Merger Corp. The combined company is expected to have an implied equity valuation of approximately $1 billion USD, including nearly $275 million USD in cash.
4. Tesla’s valuation topped $1 trillion USD
5. Elon Musk may soon become the world’s first trillionaire
The Tesla and SpaceX CEO may be on his way to becoming the world’s first trillionaire, an analyst from Morgan Stanley recently wrote in a note to investors. While the prediction hinges on SpaceX’s performance, Musk’s wealth may soon propel to 13 digits in the wake of Tesla’s recent $1 trillion USD valuation.
The Tesla and SpaceX CEO may be on his way to becoming the world’s first trillionaire, an analyst from Morgan Stanley recently wrote in a note to investors. While the prediction hinges on SpaceX’s performance, Musk’s wealth may soon propel to 13 digits in the wake of Tesla’s recent $1 trillion USD valuation.
Crypto
1. Ethereum hit an all-time high of $4,403.93 USD
The coin surpassed its previous record of $4,379.62 USD set in May. Ethereum itself has long been the most used blockchain, with more than 3,000 decentralized apps — referred to as Dapps — running on the platform.
The coin surpassed its previous record of $4,379.62 USD set in May. Ethereum itself has long been the most used blockchain, with more than 3,000 decentralized apps — referred to as Dapps — running on the platform.
2. Shiba Inu coin reached a new record high
Shiba Inu coin, a dog-inspired cryptocurrency, reached an all-time high above $0.00007 earlier this week. During its surge, Shiba inu beat out Dogecoin, the 11th-largest cryptocurrency with a market cap above $31 million USD.
Shiba Inu coin, a dog-inspired cryptocurrency, reached an all-time high above $0.00007 earlier this week. During its surge, Shiba inu beat out Dogecoin, the 11th-largest cryptocurrency with a market cap above $31 million USD.
3. Wharton Business School at the University of Pennsylvania will allow students to pay tuition in crypto
4. Robinhood saw its crypto trading revenue drop in Q3
The company brought in $365 million USD over the third quarter of 2021, coming short of the expected $431.5 million USD. The figures represent a 36% drop in average revenue per user down to $65 USD from $102 USD,
The company brought in $365 million USD over the third quarter of 2021, coming short of the expected $431.5 million USD. The figures represent a 36% drop in average revenue per user down to $65 USD from $102 USD,
5. The U.S. Government auctioned off 4.94 Bitcoin
The U.S. General Services Administration, a federal agency that manages government buildings and real estate, sold 4.94 Bitcoin through its clearinghouse website. The lots ranged from 0.44 Bitcoin on the lower end to 1.5 Bitcoin on the higher end and were valued at about $300,000 USD combined.
The U.S. General Services Administration, a federal agency that manages government buildings and real estate, sold 4.94 Bitcoin through its clearinghouse website. The lots ranged from 0.44 Bitcoin on the lower end to 1.5 Bitcoin on the higher end and were valued at about $300,000 USD combined.
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