Balaji Closes Bitcoin Bet With $1.5M in Donations, Including $500K for Bitcoin Core Development

Amid the initial bank failures in the U.S., the tech entrepreneur in mid-March had bet $1 million that bitcoin would hit $1 million within 90 days.

• 2023-05-03
• Balaji Srinivasan Silicon Valley Bank Signature Bank Silvergate Bank Ben Bernanke global financial crisis chief technology officer Federal Reserve Andreessen Horowitz

Former Coinbase Official Balaji Srinivasan Closes Out $1 Million Bitcoin Bet Early

(Bloomberg) -- Balaji Srinivasan, the former chief technology officer of Coinbase Global Inc., said he closed out what appeared to be a losing bet that Bitcoin would rise to $1 million within 90 days. Most Read from BloombergNigeria Targeted a UK Mansion; Its Next Leader’s Son Now Owns ItIBM to Pause Hiring for Jobs That AI Could DoWall Street Rattled by 15% Tumble in Pair of Banks: Markets WrapMorgan Stanley Plans 3,000 More Job Cuts as Dealmaking SlumpsJPMorgan Ends First Republic’s Turmoil Af

• 2023-05-03
• Balaji Srinivasan James Medlock Bitcoin Bloomberg Coinbase Global Inc. Chaincode Labs Twitter chief technology officer

Bitcoin Circles Above $29.5K as Investors Weigh Sluggish GDP, Latest Banking Woes

BTC dipped slightly during U.S. morning trading Thursday after the Commerce Department reported a slow 1.1% gain in GDP for the first quarter – below consensus expectations of 2% annualized – but later rebounded.

• 2023-04-28
• Bob Baxley Commerce Department market capitalization chief technology officer market performance

Here’s the pro-bitcoin, anti-bank argument advanced by a former Coinbase executive that’s making waves

It's not a new view, but in the wake of the collapse of three U.S. banks and Credit Suisse's rescue, one investor's anti-bank, pro-bitcoin argument is making waves.

• 2023-03-20
• Balaji Srinivasan Silicon Valley Bank argument Credit Suisse SVB Financial bank regulators chief technology officer