Tesla Poised for Record Earnings

Tesla Inc. is expected to report a record quarterly profit, largely evading the effects of a global chip shortage that has constricted the global auto industry. The Silicon Valley electric-car maker produced more than 206,000 vehicles in the second quarter, more than

China's Digital Yuan Puts Ant and Tencent in an Awkward Spot

HONG KONG—China is calling on private-sector pioneers Ant Group Co. and Tencent Holdings Ltd. to help it develop a state-backed digital currency that threatens the pair’s highly popular payment networks. The People’s Bank of China in recent months has accelerated the testing

Elon Musk Says He Personally Owns Bitcoin—and So Does SpaceX

Tesla Inc. TSLA -0.79% Chief Executive Elon Musk said Wednesday that he and his rocket company, SpaceX, hold bitcoin, a cryptocurrency he generally supports despite having concerns about its environmental impacts. Tesla disclosed a $1.5 billion investment in bitcoin in February and

Why the Bahamas Created a Digital Currency

The Bahamas last year became the first nation to issue its official currency in digital form. Most of the world’s central banks, including the U.S. Federal Reserve, are considering official digital currencies. The “sand dollar” is designed to extend financial services across

Nvidia Stock's Surge Makes Chip Maker 10th-Biggest U.S. Listed Company

Nvidia chips’ parallel-computing capabilities make them better than rivals’ for artificial-intelligence performance and mining cryptocurrencies. Photo: nvidia corp/Reuters The post-pandemic boom in the semiconductor business has powered Nvidia Corp. NVDA -4.25% into the top 10 U.S. public companies, joining the likes of

Accountants, Lawmakers Urge Rules on Crypto Accounting

Accountants and lawmakers are urging standard-setters to fill a void and write concrete rules telling companies how to account for bitcoin and other cryptocurrency assets. The assets, for which there are no binding U.S. accounting requirements, have drawn regulators’ interest after sharp

Crypto Experts in Demand as Countries Launch Digital Currencies

Monetary authorities around the world are rushing to design digital currencies, and many are asking: Who knows how to do this? Some of the first governments to go digital have found an answer in cryptocurrency enthusiasts. For these rebels against traditional approaches

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