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Tesla Hikes Prices After the Government Cash Grinds to a Halt

by admin October 2, 2025

Tesla raised the lease prices for its most popular electric vehicles on Wednesday, according to figures posted to the company’s website. The change comes after the federal EV tax credit, which was $7,500 for new vehicles and leases and $4,000 for used vehicles, expired on Tuesday.

Tesla’s model Y lease has jumped from between $479 and $529 per month to between $529 and $599 per month, Jalopnik points out. And Model 3 lease prices went from between $349 and $699 per month to between $429 and $759 per month.

Tesla still sells more EVs in the U.S. than any other company, but Elon Musk’s market share has eroded in recent years. Tesla accounted for over 80% of all EV sales back in 2017, at the dawn of President Donald Trump’s first term. But that’s down to just 38% this past August, according to CNBC.

Musk has built his empire on companies that rely on massive government funding, through contracts, loans, subsidies, and tax credits, according to the Washington Post, which recently tallied it all at $38 billion. But Musk, as head of the so-called Department of Government Efficiency (DOGE) until just a few months ago, did his best to dismantle the federal government without personally harming a single thing that benefited him financially.

The sole exception was the expiration of the EV tax credit, which Republicans worked hard to kill with Trump’s “One Big Beautiful Bill,” which passed in July. The tax credit was originally not scheduled to end until 2032 under the Inflation Reduction Act, which was passed under President Joe Biden and a Democratic-controlled Congress in 2022.

JPMorgan has previously estimated that the loss of the EV tax credit will cost Tesla about $1.2 billion per year. But it will take some time to see just how much of a dent is made by the EV tax credit going away. Tesla has already been suffering immensely, due in large part to Musk getting intimately involved in presidential politics.

Musk endorsed President Trump in July 2024 and spent over $270 million to get him elected. And the billionaire’s far-right politics caused the Tesla brand to suffer with liberal drivers, the people who used to support electric vehicles and Musk the most fervently. Musk’s two Nazi-style salutes on the day President Trump was inaugurated for a second time didn’t help his popularity with left-leaning car consumers.

A protester holds a sign that reads “Musk is a Nazi” at a protest on Feb. 17, 2025 in San Diego, California. Photo: Gizmodo / Matt Novak

Musk became the world’s richest person again this week after some brief competition from Larry Ellison. The Tesla CEO is now worth $500 billion, according to a new estimate by Forbes, becoming the first person in the history of the world to reach that milestone.

Tesla didn’t respond to questions emailed on Wednesday. Gizmodo will update this article if we hear back, though we’re not counting on it. Musk got rid of the company’s press relations team in 2020.

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October 2, 2025 0 comments

(L to R): OpenAI President Greg Brockman, NVIDIA Founder and CEO Jensen Huang, and OpenAI CEO Sam Altman are seen standing side by side.

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Nvidia plans to splash OpenAI with cash, pouring out $100 billion for ChatGPT’s creator and making last week’s Intel investment look like a drop in the money bucket

by admin September 23, 2025

Big tech is capable of throwing around some eye-watering amounts of cash. As you may recall, Nvidia announced $46.7 billion total revenue during its Q2 2025 earnings call. That’s not just a lot of moolah, but serious spending power.

As such, this week, Nvidia announced it will be investing $100 billion into OpenAI. Part of this mountain of money will go towards supplying the steward of ChatGPT with data centre chips. Details have yet to be finalised, but a letter of intent signed by the two companies announced plans to deploy 10 gigawatts of Nvidia systems for use in OpenAI’s data centres.

The two companies were hardly strangers to begin with, but this latest deal gives Nvidia a stake in one of its biggest customers. Nvidia’s investment in OpenAI will eventually take the form of non-voting shares in the company. OpenAI will then use the resulting cash flow to buy the aforementioned AI chips. Ultimately, this latest pledge of $100 billion makes last week’s surprising news that Nvidia would be putting $5 billion into Intel look like a drop in the bucket.

Once this most recent deal is finalised, sources close to the company claim the plan is for Nvidia to invest an initial sum of $10 billion, followed by a hardware rollout sometime towards the end of 2026. The first gigawatt of power will likely take to the stage of Nvidia’s upcoming Vera Rubin AI compute platform, which was first revealed back in March.

OpenAI CEO Sam Altman explained in a statement that it was all about maintaining a competitive edge in an increasingly crowded field, saying, “Everything starts with compute. Compute infrastructure will be the basis for the economy of the future, and we will utilize what we’re building with Nvidia to both create new AI breakthroughs and empower people and businesses with them at scale.”

But Nvidia spending money on OpenAI so OpenAI can then buy Nvidia hardware has raised some concerns; if this flow of cash looks a little circular to you, you’re not the only one concerned about the potential shape of things to come.

Speaking to Reuters, Bernstein analyst Stacy Rasgon commented, “On the one hand this [deal] helps OpenAI deliver on what are some very aspirational goals for compute infrastructure, and helps Nvidia ensure that that stuff gets built. On the other hand the ‘circular’ concerns have been raised in the past, and this will fuel them further.”

Though that said, it’s perhaps too early to start throwing around words like ‘antitrust,’ particularly as the US Trump administration is all in on AI. Still though, the proposed 10 gigawatt data centres will demand power equivalent to the needs of 8 million U.S. households; despite Nvidia CEO Jensen Huang’s suggestion that AI customers ‘pace themselves’ and other major big tech players looking to nuclear to meet AI’s power demands, there may come a time when such a power imbalance can no longer be ignored.

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September 23, 2025 0 comments

GameFi Guides

NGP Protocol Hit by $2M Exploit, Funds Sent to Tornado Cash

by admin September 18, 2025

New Gold Protocol (NGP), a decentralized finance (DeFi) project built on the BNB Chain, became the latest target of a sophisticated exploit on Wednesday. The attacker drained nearly $2 million worth of assets from the project’s liquidity pool before moving the stolen funds through Tornado Cash, making them nearly impossible to trace.

How the exploit happened?

According to Web3 security firm Blockaid, the attacker zeroed in on NGP’s smart contract vulnerability within its getPrice() function. This function works out the price of NGP tokens by simply looking at the reserves in its Uniswap V2 pool.

Blockaid explained that relying on a single decentralized exchange (DEX) pool for price data left the protocol exposed. “A spot price from a single DEX pool is insecure because an attacker can easily and dramatically manipulate the pool’s reserves within a single atomic transaction using a flash loan,” the firm said.

The exploit began when the attacker initiated a flash loan, temporarily borrowing a large number of tokens. They then executed a swap to manipulate the mainPair pool, which boosted the USDT reserve while draining NGP tokens. This trick made the getPrice() function show a much lower token value than it really was.

With the system fooled, the attacker slipped past the contract’s transaction limits and managed to buy a huge amount of NGP tokens at a cheap, manipulated price.

Aftermath of the hack

Once the tokens were drained, the attacker quickly swapped them into Ethereum and pushed the funds through Tornado Cash, the Ethereum mixer often linked to hacks. Once the hacker pushed the money through Tornado Cash, the trail went cold. That means the money trail is basically gone, and getting the funds back is next to impossible.

Word of the hack got around quickly and put the DeFi community on edge. NGP’s token price crashed within hours, and investors were left unsettled. So far, NGP has not laid out any plan on how it will recover the stolen money or compensate users who lost out.

Bigger lessons for DeFi

The NGP exploit is another reminder of how dangerous it is for protocols to depend on a single-price source. Flash loans, which allow attackers to borrow and use large sums in one go, continue to be a major tool in these kinds of attacks.

Experts believe projects should focus on building safer systems by using more than one price feed, carrying out regular audits, and adding stronger protections to their contracts.

For now, the $2 million loss is another entry in the long list of DeFi hacks that have happened this year. Recently, DeFi platform Nemo Protocol on Sui revealed that its $2.6M exploit on September 7, 2025 stemmed from unaudited code pushed to mainnet via a single-signature upgrade. Hackers exploited a public flash loan function and faulty query to mint tokens and drain the SY/PT pool.

It shows once again that, in this space, security is still the weakest point, for both builders and investors.

Also Read: Radiant Hacker Moves $26.7 Million in Stolen Funds to Ethereum

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September 18, 2025 0 comments

Crypto Trends

Bitcoin Cash Rallies to Nearly $650, Highest Level Since April 2024

by admin September 18, 2025

Bitcoin’s (BTC) offshoot bitcoin cash BCH$643.22 has rallied 7% to $647 in the past 24 hours, revisiting valuations last seen in April 2024, according to data source CoinDesk.

The rally follows a period of extreme bearish market sentiment for the token, according to data tracking platform Santiment.

“Historically, prices move in the opposite direction of the crowd’s expectations. So, implementing a strategy of buying when the crowd is fearful and selling when the crowd gets greedy continues to work extremely well for most altcoins,” Santiment said on X, explaining BCH’s upswing.

The token’s rally aligns with the broader risk-on sentiment sparked by Wednesday’s Fed rate cut and market expectations for continued liquidity easing in the coming months. Several tokens, including DOT, SUI, JUP, and NEAR, have seen similar gains in the past 24 hours, while smaller coins like PENGU have led the charge with impressive double-digit increases.

Possibly greasing the Fed-led bullish market sentiment is the Securities and Exchange Commission’s (SEC) decision to approve generic listing standards for commodity and crypto ETFs without undergoing individual reviews for each product. This move is expected to speed up the introduction of new products tied to a variety of tokens in the coming months.

BCH’s daily chart shows a bullish breakout. (CoinDesk/TradingView)

BCH’s recent move builds on the bullish breakout confirmed two months ago. In July, its price surged above the upper boundary of a channel pattern formed by trendlines connecting highs from April and December 2024, and lows from August 2024 and April 2025.

This breakout from a prolonged period of consolidation suggests that selling pressure has been absorbed, clearing the way for further upside. The immediate resistance to watch is the 2024 high at $719, which could be the next key hurdle for BCH to surpass.

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September 18, 2025 0 comments

NFT Gaming

Belarusian President Lukashenko Backs Crypto and Cash Adoption to Navigate Sanctions

by admin September 10, 2025

Belarusian President Aleksandr Lukashenko has called on the country’s financial sector to accelerate the adoption of cryptocurrency and cash payments, calling them essential tools for economic resilience.

Lukashenko’s words came during a meeting with central bank and commercial banking leaders, as the country faces sweeping sanctions over its support for Russia’s invasion of Ukraine and alleged human rights violations.

“Today, cryptocurrency-based transactions are more active than ever, and their role in facilitating payments is growing,” Lukashenko said according to local media. To him, the market now requires regulatory oversight, which he instructed the financial sector to move forward with.

He criticized banks for mistreating customers, including forcing insurance on borrowers or refusing old dollar bills, and said any such abuses would lead to disciplinary action starting in 2026.

“Don’t think only in terms of profit,” Lukashenko said, pointing to rising fees, misuse of bank profits, and questionable lending practices.

Lukashenko called for the rollout of an instant payment system by the end of the year, to allow for real-time bank transfers in a bid to improve liquidity. To keep trade flowing amid the sanctions, he pointed to potential cryptocurrency-based turnarounds.

Belarus’ gold and foreign exchange reserves reached $12.5 billion according to the news outlet, buoyed by gold’s rising price.

Earlier this month, Lukashenko pressed regulators to finalize a framework for cryptocurrencies as it moved to cement the country as a crypto-friendly hub. Belarus’ growing embrace of crypto comes amid a sharp de-dollarization trend that has seen it sell $30 million in foreign cash per day this year according to the report.

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September 10, 2025 0 comments

Crypto Trends

SEC Delays Decision on Grayscale’s Hedera Trust as Firm Updates Bitcoin Cash, Litecoin Filings

by admin September 10, 2025

In brief

The SEC set November 12 as the new deadline for Grayscale’s Hedera Trust.
Grayscale submitted updates for its Bitcoin Cash and Litecoin trusts, with both structured to list on NYSE Arca.
The delayed decision adds to a wave of over 90 crypto ETF applications, including Solana and XRP products now pending before the Commission.

The SEC has pushed back its decision on Nasdaq’s bid to list the Grayscale Hedera Trust as the investment firm filed updated registrations for its Bitcoin Cash and Litecoin trusts.

The SEC is designating November 12 as the new deadline, according to an order on Grayscale’s Hedera Trust published Tuesday.

On the same day, Grayscale submitted registration statements for its Bitcoin Cash Trust and Litecoin Trust, both of which were filed on Form S-3 as existing vehicles that already report to the SEC.

Bank of New York Mellon is listed as administrator, while Coinbase will serve as custodian and prime broker. Both funds are structured to list on NYSE Arca.

Separately, Grayscale has filed a Form S-1 for the Hedera Trust, marking its initial registration with the SEC on the same day. The S-1 outlines a new product that would trade under the ticker HBAR, contingent on Nasdaq’s pending rule-change request to permit its listing.

Under U.S. securities law, the SEC normally has 180 days to decide on a proposed exchange rule change, but can add another 60 days, often to review comments or amendments before making a final decision.

The latest delay is part of a broader pattern.

Earlier in August, the SEC exercised its final procedural extension on pending Solana ETF applications, pushing the deadline to October 16.

The commission decided it would need more time to assess the Cboe BZX proposals from Bitwise and 21Shares, as well as other filings from Canary Funds and Marinade Finance.

Before August ended, over 90 crypto ETF applications had lined up for SEC action, spanning products tied to Bitcoin, Ethereum, Solana, XRP, and other digital assets.

Most are clustered around deadlines set by fall, raising the prospect of multiple rulings in quick succession as the Commission weighs how far to extend approvals beyond Bitcoin and Ethereum, which were approved last year.

“Assets with near-term ETF product decisions often command premium pricing on the open market,” Lionel Iruk, managing partner at Empire Legal, said in a statement shared with Decrypt.

An ETF wrapper “unlocks more than fresh liquidity for digital assets,” he said. “It provides the compliance, custody, and transparency frameworks that traditional investors often require before making any investment decision.”

Such a structure “amplifies their appeal beyond the crypto-native audience,” he said, adding that the appeal of crypto ETFs is anchored on their “potential transition from speculative enthusiasm to structured, regulated offerings that meet institutional standards.”

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September 10, 2025 0 comments

GameFi Guides

Grayscale Seeks SEC Nod for Bitcoin Cash (BCH) and Hedera (HBAR) ETFs

by admin September 9, 2025

Grayscale filed paperwork with the U.S. Securities and Exchange Commission (SEC) on Tuesday for three crypto exchange-traded funds, expanding its roster of potential offerings as issuers jockey for regulatory approval.

The asset manager submitted an S-1 registration for a Litecoin LTC$109.19 ETF, a move that follows its earlier bid to convert the Grayscale Litecoin Trust into an ETF.

At the same time, it lodged S-3 filings for exchange-traded funds tied to Bitcoin Cash BCH$578.41 and Hedera HBAR$0.2127. If approved, the products would join a lineup that already includes spot bitcoin and ether ETFs launched last year.

The filings underscore Grayscale’s push to diversify its crypto-linked investment products while regulators weigh how far to open the door to such funds. Just a day earlier, the firm sought to convert its Chainlink LINK$22.77 Trust into an ETF, signaling a rapid pace of applications despite regulatory uncertainty.

Grayscale is not alone. Fidelity, VanEck and several other issuers have lined up proposals for digital-asset funds in hopes that the SEC will sign off on more products later this year. Industry executives say broader approval could help mainstream investors gain exposure to cryptocurrencies through regulated markets, while potentially easing concerns about custody and transparency.

For now, the SEC under Chair Paul Atkins has delayed decisions on a range of crypto ETF applications. A green light from regulators would give investors a way to trade crypto exposure alongside traditional securities in brokerage accounts.

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September 9, 2025 0 comments

NFT Gaming

Bitcoin Cash Shines Amid Altcoin Bloodbath, Volume Jumps 32%

by admin September 6, 2025

Amid the downward trend that hit altcoins in the last 24 hours, Bitcoin Cash (BCH) has defied the odds. The asset has seen a spike in volume and an appreciable increase in price outlook. CoinMarketCap data shows that BCH registered an over 32% increase within this time frame.

Institutional and retail demand for BCH drive momentum

Notably, the spike came as institutional interest in Bitcoin Cash pushed the asset’s open interest up by over 23%. There was also an increase in retail interest following the bullish performance of BCH in July. Notably, the coin outperformed Bitcoin, the leading digital asset, by 20% in July.

Can Bitcoin Cash hold $600 level?

The current bullish momentum of Bitcoin Cash was ignited within the week as it formed a golden cross on its hourly chart. At the time, BCH was trading at $560, but the asset has since gained over $40 to flip the $600 price level.

Will an Ethereum Run Make It Hard for ETH Treasuries to Raise Cash?

by admin September 6, 2025

In brief

Digital asset treasury companies face shrinking market-to-net asset value (mNAV) ratios.
BitMine and SharpLink Gaming have seen their mNAV fall below 1.0, to 0.99 and 0.89 respectively.
The mNAV erosion threatens DATs’ ability to raise capital through at-the-market equity programs, forcing painful share dilution and stalling capital raises, analysts said.

As Ethereum claws its way upward this week, a looming challenge threatens digital asset treasury (DAT) companies as their mNAVs have come close to 1 or slipped below it, with experts signaling potential trouble for future capital inflows.

mNAV, or market-to-net asset value, compares a company’s stock value to that of its assets. And for digital asset treasury companies, the value of their crypto treasuries can experience dramatic fluctuations.

Data from Strategic ETH Reserve shows a steep drop in mNAV for key players. BitMine and SharpLink Gaming have seen their mNAV fall below 1, to 0.99 and 0.89, respectively. BitDigital and GameSquare Holdings Inc have seen there’s slip, but hold above 1 so far. BTBT is at 1.51 and GAME has fallen to 1.13.

The downtick in mNAV tracks the broader crypto market’s dip, with Bitcoin falling from its mid-August peak, when it set a new all-time high of $124,545.6, to $112,154, per CoinGecko.

For DATs holding hefty Ethereum reserves—BitMine has $8.3 billion and Sharplink holds $3.7 billion worth of ETH—this erosion of premium could choke off their ability to raise cash without punishing existing investors.

“I think that’s why we’ve seen capital raises stall after a busy stretch earlier this year: Investors just don’t want to pay the premiums for the same ETH exposure,” Arthur Azizov, founder and investor at B2 Ventures, told Decrypt.

For DATs, mNAV is the lifeblood of capital raises, particularly through at-the-market (ATM) equity programs, where a premium over net asset value allows companies to issue stock without harming investors.

But as mNAVs shrink, “companies must issue far more shares to raise the same capital, leading to painful dilution,” CryptoQuant analyst Maarten Regterschot told Decrypt.

While Ethereum’s price volatility erodes mNAV cushions, relentless ATM share sales flood the market, driving down valuations, Azizov highlighted. Adding pressure, spot Ethereum ETFs offer investors direct exposure without the premium DATs once commanded, he said.

“Investors aren’t willing to pay extra for the same Ethereum,” Azizov explained, noting why capital raises have ground to a halt lately.

According to Regterschot, a stagnant ETH/BTC price is another source that has pressured mNAVs’ recent plunge, creating a feedback loop where fading premiums and rising share supply choke demand.

The outlook for Q4 is make-or-break, both experts highlighted.

A bullish Ethereum run could revive mNAVs, allowing DATs to issue stock on favorable terms and bolster ETH holdings, thereby restarting growth. But if ETH stalls or the crypto market turns bearish due to macroeconomic concerns, mNAVs could dip below 1, effectively putting a stop on new issuance.

“A strong quarter is critical,” Azizov said. Without it, DATs may be forced to lean on staking yields, with netflows stalling as they navigate a constrained funding landscape.

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September 6, 2025 0 comments

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Coinbase taps former Cash App exec as new CMO

by admin September 3, 2025

U.S.-based cryptocurrency exchange Coinbase has hired Cathrine Ferdon, a former executive at digital payments platform Cash App, as its new chief marketing officer.

Summary

Coinbase has hired Cathrine Ferdon as its new chief marketing officer.
Ferdon, former CMO of Cash App, will help drive Coinbase’s expansion effort.

Coinbase has announced that Cathrine Ferdon, who joins from Block Inc.-owned digital wallet platform Cash App, will serve as the company’s new chief marketing officer.

Ferdon will lead the exchange’s global user growth initiative, with the crypto exchange currently among the top publicly traded companies and boasting over 120 million users across more than 100 countries.

Coinbase, which has over $425 billion in assets on the platform, has said it seeks to onboard one billion people. Ferdon will be tasked with putting this cryptocurrency goal into further traction.

“With deep experience championing disruptive technology, most recently as CMO of CashApp, Cat is the perfect person to steer our mission of onboarding a billion users and increasing economic freedom around the world,” Coinbase posted on X.

New CMO to help Coinbase grow its brand

The former Cash App exec’s hire comes as Coinbase and many other crypto platforms in the U.S. eye growth amid a crypto-friendly regulatory regime under President Donald Trump’s administration.

With regulatory clarity on the table as agencies like the Securities and Exchange Commission and Commodity Futures Trading Commission engage industry players, the next steps for Coinbase and others may be compliance and expansion.

Ferdon says she’s ready to help the crypto behemoth achieve this.

“I’m thrilled to share that I’m joining Coinbase as Chief Marketing Officer! I’ve long been a fan of Coinbase as a product and as a disruptive brand willing to fight for economic freedom around the world,” Ferdon posted on X. “I can’t wait to roll up my sleeves with Brian Armstrong, Emilie Choi, and the rest of the team, at a time when the very definition of finance is changing and crypto is finally becoming more accessible and open,” she added.

Brian Armstrong, co-founder and chief executive officer of Coinbase, and Emilie Choi, president and chief operating officer, are among the key figures at the crypto exchange.

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September 3, 2025 0 comments