A proposal from Meta shareholder Ethan Peck suggested that the social media giant should convert part of its $72 billion in cash and short-term cash equivalents into Bitcoin BTC$94,297 to protect against currency devaluation.
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A proposal from Meta shareholder Ethan Peck suggested that the social media giant should convert part of its $72 billion in cash and short-term cash equivalents into Bitcoin BTC$94,297 to protect against currency devaluation.
Peck wrote that Meta is losing 28 per cent of its cash assets over time due to inflation and cited Bitcoin outperforming bonds by 1,262 per cent over the past five years as evidence for adopting the asset.
In the proposal Peck also wrote;
"Mark Zuckerberg named his goats 'Bitcoin' and 'Max.' Meta director Marc Andreessen has praised Bitcoin and is also a director at Coinbase. Do Meta shareholders not deserve the same kind of responsible asset allocation for the Company that Meta directors and executives likely implement for themselves?"
Peck works for The National Center for Public Policy Research, a Washington DC think-tank that advocates for free market policies, which put forward Bitcoin treasury shareholder proposals to Microsoft and Amazon in 2024.
However, Peck submitted the Meta proposal on behalf of his family’s shares.
The co-founder and chief trader of a cryptocurrency investment firm has admitted to wire fraud conspiracy charges for his involvement in collecting over $9 million from investors with deceptive promises of substantial returns.
According to a statement released by the United States Department of Justice (DOJ) on January 10, Wolf Capital co-founder and chief trader Travis Ford attracted roughly 2,800 investors to contribute about $9.4 million from January to August 2023.
According to the DOJ, Ford portrayed himself as an 'experienced investor' who could achieve '1-2per cent' daily returns, which translates to an annual average of about 547 per cent.
On Jan. 9, the 0G Foundation informed Cointelegraph that it has accumulated over $30 million through the sale of nodes utilized for running its decentralized artificial intelligence platform.
According to 0G, the Web3 AI platform sold nearly 85,000 nodes to around 8,500 operators, averaging about $360 per node.
0G announced that this sale represents the second-largest node offering in Web3 history and the third-largest fundraising event for decentralized AI. This brings 0G's total raised funds to approximately $400 million.
According to 0G, the Web3 project had earlier secured venture capital (VC) funding during its pre-seed and seed rounds.
According to Messari, a crypto research firm, the convergence of blockchain and AI is drawing growing attention from crypto-centric venture capital firms, which poured approximately $213 million into AI-related startups in the third quarter of 2024.