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US Attorneys General tell AI companies they ‘will be held accountable’ for child safety failures

by admin August 26, 2025


The US Attorneys General of 44 jurisdictions have signed a letter [PDF] addressed to the Chief Executive Officers of multiple AI companies, urging them to protect children “from exploitation by predatory artificial intelligence products.” In the letter, the AGs singled out Meta and said its policies “provide an instructive opportunity to candidly convey [their] concerns.” Specifically, they mentioned a recent report by Reuters, which revealed that Meta allowed its AI chatbots to “flirt and engage in romantic roleplay with children.” Reuters got its information from an internal Meta document containing guidelines for its bots.

They also pointed out a previous Wall Street Journal investigation wherein Meta’s AI chatbots, even those using the voices of celebrities like Kristen Bell, were caught having sexual roleplay conversations with accounts labeled as underage. The AGs briefly mentioned a lawsuit against Google and Character.ai, as well, accusing the latter’s chatbot of persuading the plaintiff’s child to commit suicide. Another lawsuit they mentioned was also against Character.ai, after a chatbot allegedly told a teenager that it’s okay to kill their parents after they limited their screentime.

“You are well aware that interactive technology has a particularly intense impact on developing brains,” the Attorneys General wrote in their letter. “Your immediate access to data about user interactions makes you the most immediate line of defense to mitigate harm to kids. And, as the entities benefitting from children’s engagement with your products, you have a legal obligation to them as consumers.” The group specifically addressed the letter to Anthropic, Apple, Chai AI, Character Technologies Inc., Google, Luka Inc., Meta, Microsoft, Nomi AI, OpenAI, Perplexity AI, Replika and XAi.

They ended their letter by warning the companies that they “will be held accountable” for their decisions. Social networks have caused significant harm to children, they said, in part because “government watchdogs did not do their job fast enough.” But now, the AGs said they are paying attention, and companies “will answer” if they “knowingly harm kids.”



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August 26, 2025 0 comments
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Are Bitcoin Treasury Companies Good Or Bad? Analysts Expand On Skepticism

by admin August 22, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The rise of Bitcoin treasury companies has sparked an intense debate over whether they add stability or new layers of risk to businesses. Analysts from the global credit rating agency, Morningstar have expanded on the skepticism, pointing out that using cryptocurrencies such as Bitcoin as a primary reserve currency may weaken, rather than strengthen the stability of corporate treasuries.

The Dark Side Of Bitcoin Treasury Companies

The adoption of cryptocurrencies for treasury functions has become one of the most trending topics in the financial industry. In a commentary published on August 21, Morningstar analysts noted that while Bitcoin and Ethereum are increasingly used for payments and investments, the shifts toward employing them for treasury functions introduce risks that could outweigh potential benefits. 

According to the commentary, Bitcoin treasury companies are likely exposing themselves to elevated levels of financial instability. One of the biggest drivers of this risk is the absence of clear regulatory oversight. Morningstar analysts highlighted the lack of a global regulatory framework for cryptocurrencies, with countries like the United States and Canada adopting differing approaches, while others, such as Egypt and China, impose outright bans.

This fragmented environment reportedly creates unpredictability for corporations that must manage compliance and financial stability. For treasuries, where certainty and legal clarity are vital, the analysts caution that such uncertainty may heighten credit risk and weaken confidence in long-term planning. 

Morningstar further stressed that cryptocurrency markets lack the depth of traditional asset markets, making liquidity unreliable. The analysts warn that this can cause companies to incur losses or face delays when attempting to access capital. They also note that such disruptions undermine the efficiency expected of corporate treasury management.  

Morningstar’s report also highlighted security risks for Bitcoin treasury concerns companies, noting that reliance on third-party custodians and exchanges such as Coinbase or Binance exposes them to operational failure, cyberattacks, and regulatory disputes. It added that the dual role of these exchanges as both trading platforms and custodians increases counterparty risks, weakening the stability of treasury reserves. 

Further Warnings Issued Over BTC Treasury Firms

In the commentary, Morningstar analysts further stated that volatility remains the most striking weakness of Bitcoin treasury companies. Their research underscored that Bitcoin is nearly five times more volatile than the S&P 500 in the short term, exposing companies to sudden valuation swings that can severely destabilize operations. 

Morningstar also noted that the materiality of crypto holdings is another central concern of Bitcoin treasury companies. The analysts caution that when digital assets make up a significant portion of a company’s reserves, the treasury begins to function more like a speculative portfolio than a financial safeguard. 

The report pointed out that firms like Strategy Inc., which holds over 629,000 BTC, are particularly exposed to this imbalance. With the top 20 public companies controlling 94% of total public Bitcoin treasury holdings, the sector also faces significant concentration risks. Furthermore, Morningstar warns that Bitcoin treasury companies may also be vulnerable to technical failures, exchange insolvency, liquidity crises, and weakened creditworthiness, even with insurance and security measures in place.

BTC trading at $112,928 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from Pixabay, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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August 22, 2025 0 comments
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The 10 Public Companies With the Biggest Bitcoin Portfolios

by admin August 18, 2025



For many years, the idea that publicly traded corporations might buy Bitcoin for their reserves was considered laughable. The top cryptocurrency was considered too volatile, too fringe to be embraced by any serious business.

That taboo has been well and truly broken, with a number of major institutional investors buying up Bitcoin in recent years.

The floodgates first opened when cloud software company Strategy (formerly MicroStrategy) bought $425 million worth of Bitcoin in August and September 2020. Others followed suit, including payments processor Block and electric car manufacturer Tesla.

Per BitcoinTreasuries, public companies holding Bitcoin now account for nearly 4.5% of the total supply of 21 million BTC. These are the biggest holders as of this writing.

1. Strategy

Strategy, a prominent business analytics platform turned Bitcoin treasury company, has adopted BTC as its primary reserve asset. The company is perhaps better known as MicroStrategy, but changed its name in February 2025 with co-founder Michael Saylor citing the “power and positivity” of “strategy.”

The firm, which produces mobile software and provides cloud-based services, has aggressively pursued a Bitcoin buying spree, scooping up millions of dollars worth of the cryptocurrency. As of this writing in August 2025, it holds 628,946 BTC in reserve, equivalent to more than $73 billion and more than 2.8% of the total number of Bitcoin that will ever be issued.

At one point, Strategy Executive Chairman Michael Saylor said, he was buying $1,000 in Bitcoin every second. In the company’s Q1 2024 earnings call, Saylor claimed that the company’s adoption of a “Bitcoin strategy” had enabled it to deliver 10x to 30x the performance of rival enterprise software companies in the business intelligence sector.

Unlike other executives who typically shy away from discussing their personal investments, Saylor has made it public that he personally purchased 17,732 BTC—currently worth over $1.6 billion and still holds them as of September 2024. It’s something of an about-face for the Strategy co-founder, who in 2013 claimed that Bitcoin’s days were numbered.

“We’re at the beginning of the stage of rapid institutional adoption of digital property in the form of Bitcoin,” Saylor said during the company’s Q1 2024 earnings call. He added that in the future, Bitcoin won’t compete against other crypto assets, but against, “gold, art, equities, real estate, bonds, and other types of store-of-value money in wealth creation, wealth preservation, and the capital markets.”



Strategy plans to buy even more Bitcoin in the near future, as it’s in the midst of raising a planned $42 billion to do just that, and Saylor is making the pitch to other public companies as well—like Microsoft, though shareholders ultimately voted against the proposal.

Perhaps the loudest Bitcoin proponent out there, Saylor has already said the firm will be “buying the top forever.”

2. Marathon Digital Holdings Inc.

Bitcoin mining company Marathon Digital, unsurprisingly, is also a large holder of Bitcoin, with 50,639 BTC in its corporate treasury according to a recent social update. That’s worth nearly $6 billion at today’s prices.

The company, which aims to build “the largest Bitcoin mining operation in North America at one of the lowest energy costs,” originated as a patent holding firm (and was often referred to as a patent troll) before its pivot into crypto mining.

The firm noted that it is accelerating its growth plans following the 2024 Bitcoin halving, in a bid to “mitigate the impact” of receiving half the BTC rewards per each successfully mined block.  The firm had said that it aimed to double the scale of its mining operations in 2024.

The company increased its revenue by 64% in Q2 2025, marking its highest ever revenue quarter at $238.5 million. It recently raised nearly $2 billion via convertible notes, most of which has been used to buy Bitcoin.

3. Twenty-One (XXI)

The Jack Mallers-led Twenty One (XXI) expects to hold 43,514 Bitcoin—over $5 billion worth currently—when transactions are finalized and it begins trading publicly. 

Set to launch via a planned SPAC merger with Cantor Equity Partners, the firm is also working alongside stablecoin giant Tether, crypto exchange Bitfinex, and Japanese investment firm SoftBank to build its Bitcoin treasury.

Unlike other treasury firms that may accumulate Bitcoin for their balance sheets while operating non-crypto businesses, Twenty One’s primary focus will be on acquiring BTC and providing Bitcoin-related services to help differentiate itself from others.

The firm pledges a long-term focus with plans not to “outperform inflation,” but instead “render the concept of inflation irrelevant.”

4. Bitcoin Standard Treasury Company

Bitcoin Standard Treasury Company (BSTR) is another soon-to-be public entity that will launch with more than 30,000 Bitcoin when its transactions finalize, expected to take place in Q4 2025.

The firm, which will be led by early Bitcoiner and BTC whale Adam Back, is the result of a merger between BSTR and the Cantor Fitzgerald-linked special purpose acquisition company, Cantor Equity Partners I.

As part of the merger, Back and founding shareholders will contribute 25,000 Bitcoin to the company, with another 5,021 Bitcoin provided via an in-kind PIPE, or private investment in public equity.

“We are putting unprecedented firepower behind a single mission: maximizing Bitcoin ownership per share while accelerating real-world Bitcoin adoption,” Back said of the firm, in a statement.

In addition to its 30,031 Bitcoin, currently valued at $3.5 billion, the firm also announced it could raise up to $1.5 billion in funding for more purchases.

5. Riot Platforms, Inc.

Another crypto mining outfit, U.S.-based Riot Platforms, holds 19,273 BTC—worth $2.25 billion at today’s prices.

With its valuation surging from below $200 million in 2020 to highs of over $6 billion in 2021, the Nasdaq-listed company went on an aggressive expansion drive. In April 2021, it spent $650 million on a one-gigawatt Bitcoin mining facility in Texas, eventually expanding further in 2022 before rebranding to Riot Platforms to diversify its business model in 2023.

In 2024, it warned shareholders that there was “no guarantee” the Bitcoin halving would improve profitability and while RIOT shares traded briefly around $18 in the early part of the year, the stock fell gradually before ranging below $10 from August until late October. After such, it gained alongside a resurgence for Bitcoin mining stocks and the broader cryptocurrency market after Donald Trump was named President-elect in November.

The company also reached a settlement with Bitcoin mining firm, Bitfarms, as it attempted a hostile takeover of the rival in 2024.

6. Metaplanet

Metaplanet, a Tokyo-listed firm nicknamed the “Asian Strategy,” now holds 18,113 Bitcoin after its latest purchase, worth over $2.1 billion at today’s prices. 

Outside of its Bitcoin operations, the company owns and operates a hotel that is being rebranded to the “Bitcoin Hotel,” and claims that it is the first and only publicly listed Bitcoin treasury company in Japan. 

Following in Strategy’s footsteps, the firm has aggressively added to its Bitcoin holdings of late, increasing its reserves more than 10x from less than 400 BTC in September 2024 to more than 4,500 in April 2025. It then more than tripled that number in just a couple months as it heads towards a goal of owning more than 210,000 Bitcoin by 2027.

In other headline news, the company added President Donald Trump’s son Eric Trump to a Strategic Advisory Board in March.

7. Trump Media & Technology Group

President Trump’s publicly traded media and technology firm is the 7th largest holder of Bitcoin with an estimated 15,000 BTC, according to data from Bitcointreasuries.net.

That number is likely derived from the firm’s recent $2 billion purchase of Bitcoin and Bitcoin-related securities in July—although it has not publicly detailed exactly how much of that purchase is denominated in BTC itself.

Trump Media has been leaning into crypto heavily since the president returned to the White House in January.

In addition to its Bitcoin purchases, it also teased the launch of a crypto token and wallet for its Truth Social platform, and has filed to launch multiple crypto ETFs.

8. CleanSpark

U.S. Bitcoin mining firm CleanSpark holds 12,703 BTC as of July 31, worth just under $1.5 billion at today’s prices.

Ahead of the 2024 Bitcoin halving, the firm expanded its operations, snapping up three Bitcoin mining facilities in Mississippi for $19.8 million and adding up to 2.4 EH/s to its mining capacity. The company also added a third facility in Dalton, Georgia to its lineup, with a further 0.8 EH/s.

Today $CLSK reported fiscal year third quarter 2025 results (ended 6/30/25).

*Quarterly revenue: $198.6 million (up 90.8% from same prior fiscal quarter)

*Quarterly bitcoin production: 2,012

*Quarterly average revenue per coin: $98,753

Full press release here:… pic.twitter.com/PcZ0wXPUZA

— CleanSpark Inc. (@CleanSpark_Inc) August 7, 2025

In June 2024, CleanSpark revealed that it had mined 417 BTC in the month of May, claiming to have “outperformed industry expectations” in its first full month of production following the halving. The company added that it would further expand to a site in Wyoming.

While other public companies on the list have made it a habit of buying Bitcoin for their treasuries, CleanSpark CFO Gary Vecchiarelli said in February 2025, “We continue to invest in ourselves, because why buy Bitcoin at current spot prices when we can mine it for $34,000?”

9. Coinbase

Arguably the best-known crypto firm in this list, crypto exchange Coinbase went public in a landmark direct listing on the Nasdaq in April 2021.

Ahead of its listing, in February 2021, Coinbase revealed that it held $230 million in Bitcoin on its balance sheet. As of its most recent 10-q filing, it holds 11,776 BTC in its treasury for investment, currently worth nearly $1.4 billion.

The company’s stock has charged back towards its previous all-time high in the wake of the 2024 Presidential election, later surpassing the mark in June 2025 and pushing to a new high again in July.

It continues to innovate with Bitcoin, recently announcing its own wrapped Bitcoin product, cbBTC. Coinbase also recently restarted Bitcoin lending services.

10. Tesla

Electric vehicle manufacturer Tesla joined the ranks of companies holding Bitcoin in December 2020, with an SEC filing revealing that the company invested “an aggregate $1.5 billion” in Bitcoin. Today the company holds 11,509 BTC according to its July 2025 10-Q, or about $1.35 billion worth.

After its first purchase, the company sold 10% of its Bitcoin holdings in Q1 2021; according to CEO Elon Musk, this was “to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.”

The company’s Bitcoin play followed months of speculation, after CEO Elon Musk took to Twitter (aka X) to discuss the cryptocurrency. In late 2020, Strategy’s Saylor offered to share his “playbook” for Bitcoin investing with Musk, after arguing that a move into Bitcoin would be doing Tesla shareholders a “$100 billion favor.”

However, Musk and Tesla have had an on-and-off relationship with Bitcoin. After announcing that Tesla would accept payments in Bitcoin for its products and services in March 2021, just two months later the CEO abruptly announced that the company would no longer accept the cryptocurrency for payments.

Arkham Intelligence believes the acceptance of Bitcoin payments fueled a jump in the Tesla Bitcoin holdings, placing its current treasury at 11,509 BTC compared to a once widely reported 9,720 BTC based on its previous purchases and ensuing sales. Tesla’s latest financial reports validate the total of 11,509.

It remains to be seen whether Tesla will add to its balance sheet, but Musk has said that “he’s open to increasing its Bitcoin holdings in the future.”

Musk is perhaps best known as a keen advocate of another cryptocurrency, Dogecoin. Tesla has enabled Dogecoin purchases for some merchandise, plus Musk led the Department of Government Efficiency (DOGE) earlier this year, spawning new meme coins and a swift movement upward for Dogecoin.

Additional reporting by Daniel Phillips

Editor’s note: This article was first published in July 2022 and last updated with new details on August 15, 2025.

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August 18, 2025 0 comments
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