Business and Crypto: Here Are Our Top Stories of the Week

Neuralink’s co-founder left the company and Verizon is officially selling Yahoo and AOL.

Tech 
2,945 Hypes 1 Comments

Many brands are starting to see a recovery despite the challenges initially brought on by the pandemic. Some businesses, especially ones that focused efforts on expanding e-commerce ventures, have even seen profits rise even higher than before the pandemic.

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. Neuralink co-founder Max Hodak left the company

Elon Musk‘s brain implant startup company, Neuralink, lost a founding member this week. Hodak announced that he had left the company “a few weeks ago” but did not expand on the circumstances of his departure.

2. Drake-backed online brokerage company Wealthsimple hit a $4 billion USD valuation

The Toronto-based company recently raised $610 million USD in fundraising, bumping its value. Other celebrities, like Ryan Reynolds, Michael J. Fox and Kelly Olynyk ,have also invested in the company over the years.

3. Verizon is officially selling Yahoo and AOL

Verizon will offload legacy sites Yahoo and AOL to private equity firm Apollo Global Management for $5 billion USD. The two companies were originally purchased for $9 billion USD.

4. JAY-Z finalizes $302 million deal to sell his TIDAL majority ownership

A Square spokesperson revealed that the deal was for “an aggregate consideration of $302 million USD.” JAY-Z originally launched TIDAL in 2015 for $56 million USD in partnership with several artists including J.Cole, Rihanna and Madonna.

5. Fortnite reported over $9 billion USD in revenue in its first two years

Fortnite has reportedly generated over $5 billion USD in revenue for parent company, Epic Games, according to documents from its ongoing court battle with Apple. Epic’s Game Store was launched in 2018.

Crypto

1. Dogecoin soared past $0.50 per coin on Tuesday and continue to rise

Tesla CEO Elon Musk has fervently embraced the coin, pushing up its price. Musk’s upcoming appearance on Saturday Night Live has also sparked the coin frenzy.

2.  Ethereum pushed past $3,000 USD per coin, turning its co-founder into a billionaire

Ether, the cryptocurrency tethered to the Ethereum blockchain, reached a high of about $3,200 USD before dropping slightly on Monday. Ether’s value has been steadily rising over the past few weeks, thanks to major banks and businesses finding new uses for the Ethereum blockchain.

3. A crypto expert predicted that Bitcoin will eventually hit $1 billion USD 

Speaking on Yahoo Finance LiveCoinDesk Learn Editor Ollie Leech said that he believed the coin is on a path toward continued financial viability. According to Leech, the timing of Bitcoin’s price surge may happen after 2025.

4. Jeff Staple is selling ‘METAPIGEON’ sneaker NFTs

Staple has three unique NFTs up for grabs, including the “METAPIGEON K-MINUS,” METAPIGEON MK, and METAPIGEON. Based on his Staple x Nike SB Dunk “Pigeon.”

5.  Tiger King‘s Carole Baskin has dropped her own cryptocurrency: $CAT

Baskin has made $CAT available to fans as a new altcoin. She explained that it’s “not a currency for investment, but rather is a purr-ency of our fans to show their love for the cats.”

Read Full Article

What to Read Next

Business and Crypto: Here Are Our Top Stories of the Week
Tech 

Business and Crypto: Here Are Our Top Stories of the Week

Amazon acquired MGM Studios for $8.45 billion USD and Harambe will be immortalized as an NFT.

Crypto: Here Are Our Top Stories of the Week
Tech 

Crypto: Here Are Our Top Stories of the Week

Including SafeMoon and Republic’s digital real estate.

Business and Crypto: Here Are Our Top Stories of the Week
Tech 

Business and Crypto: Here Are Our Top Stories of the Week

The crypto market took a major tumble and Google partnered with SpaceX.


Business and Crypto: Here Are Our Top Stories of the Week
Tech 

Business and Crypto: Here Are Our Top Stories of the Week

eBay and PayPal broke up and Square is getting into bitcoin.

Frieze New York 2021: Here Are the Standout Booths To See
Arts

Frieze New York 2021: Here Are the Standout Booths To See

Featuring several distorted works by Dana Schutz, evocative installations by Annette Messager and more.

These Eight Video Games Will Compete for the Inaugural Tribeca Games Award
Gaming

These Eight Video Games Will Compete for the Inaugural Tribeca Games Award

The accolade celebrates an unreleased game for its advancements in art and storytelling.

Nike Air Force 1 "Texture Reveal" and "Pastel Reveal" Hide Colorful Detailing Under Tear-Away Uppers
Footwear

Nike Air Force 1 "Texture Reveal" and "Pastel Reveal" Hide Colorful Detailing Under Tear-Away Uppers

You can remove the upper’s top layer by hand, or wait for it to wear away naturally.


Take A Look At the Louis Vuitton x NBA Capsule Collection II
Fashion

Take A Look At the Louis Vuitton x NBA Capsule Collection II

The latest installment in their three-year creative partnership.

New Balance 1700 Gets Treated With the Signature Light Gray Theme
Footwear

New Balance 1700 Gets Treated With the Signature Light Gray Theme

The Boston imprint’s most recognizable palette touches down on the lifestyle runner.

Vans' Co-Founder Paul Van Doren Dies at Age 90
Footwear

Vans' Co-Founder Paul Van Doren Dies at Age 90

The footwear industry icon will forever be remembered for his mark on skate culture.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Adblock Detected.

We charge advertisers instead of our readers. If you enjoy our content, please add us to your adblocker's whitelist. We'd really appreciated it.