BITCOIN

Spacex reportedly wrote down the value of its bitcoin holdings by $373 million over the past two years and sold an undisclosed amount of the cryptocurrency. According to reports, Tesla, another company run by billionaire Elon Musk, has taken a similar approach with its bitcoin holdings. Spacex Writes Down $373M in Bitcoin Value On Thursday, the Wall Street Journal reported that Elon Musk’s Spacex has written down its bitcoin investments, citing documents it has seen. The news outlet wrote: Spacex wrote down the value of bitcoin it owns by a total of $373 million last year and in 2021 and has sold the cryptocurrency. Tesla has taken a similar approach with its bitcoin holdings. Musk has posted about cryptocurrencies frequently over the years. This led to numerous headlines claiming that Spacex had liquidated its entire bitcoin holdings, sending the price of bitcoin tumbling. However, many people took to social media to point out that writing down investments is a standard accou

Dubai will offer subsidized licenses for Web3 and artificial intelligence (AI) companies that want to enter the country. The Dubai International Financial Centre (DIFC) and its campus will subsidize 90% of the costs of these licenses to attract companies in this sector as part of its push to become a worldwide tech hub. Dubai to Offer Subsidies for Web3 and AI Companies The Dubai International Financial Centre (DIFC) announced the issuance of special commercial licenses for Web3 and artificial intelligence (AI) companies wanting to set up operations in the emirate. 90% of the cost of each license will be subsidized to help companies in their initial stages. The licenses offered will allow the companies to access physical offices and co-working spaces in the Innovation One building, according to a press release issued by the DIFC. The UAE Ministry of Economy details that the DIFC has more than 25,000 professionals working at more than 2,000 active registered companies, as one of t