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The dollar needs a new bonfire of the bills

Fiat money, first invented in colonial America, gained value as colonial governments periodically burned their tax revenues to demonstrate scarcity. Massachusetts initiated fiat money as 'bills of credit' in 1690, which were circulated as substitutes for scarce metal coins. To instill trust in this paper currency, colonial legislatures

The dollar needs a new bonfire of the bills

Fiat money, first introduced in colonial America, relied on periodic burning of tax revenue to maintain its value. Paper money, while existing since 11th-century China, was considered truly valuable only as metallic coins by colonial Americans. The Massachusetts colony is credited with inventing fiat money in 1690, referring to their

Bitcoin Miner Core Scientific Investors Nix $9 Billion CoreWeave Merger

Core Scientific shareholders have rejected a proposed $9 billion all-stock merger with AI computing firm CoreWeave, ending discussions that began in July. During a special meeting, the required votes for approval were not met. Core Scientific, a leader in digital asset mining and digital infrastructure, announced that while the merger

Bitcoin Miner Core Scientific Investors Nix $9 Billion CoreWeave Merger

Core Scientific shareholders have rejected a proposed $9 billion all-stock merger with AI computing company CoreWeave, following a vote at a special meeting. The merger, which was initially announced in July, aimed to position CoreWeave within the high-powered computing space by leveraging Core Scientific's 1.3 gigawatts of

Bitcoin Miner Core Scientific Investors Nix $9 Billion CoreWeave Merger

Bitcoin miner Core Scientific's shareholders have rejected a proposed all-stock merger with AI computing firm CoreWeave valued at $9 billion. The decision came during a special meeting where the necessary votes to approve the merger were not gathered. Following the announcement, Core Scientific's stock saw a

Bitcoin Miner Core Scientific Investors Nix $9 Billion CoreWeave Merger

Bitcoin miner Core Scientific shareholders have rejected a proposed $9 billion merger with AI computing company CoreWeave. The all-stock deal, which was announced in July, fell short of the necessary votes for approval during a special shareholder meeting. Following the announcement, CoreWeave's shares decreased by nearly 4%, whereas

Bitcoin Miner Core Scientific Investors Nix $9 Billion CoreWeave Merger

Core Scientific shareholders voted against a proposed $9 billion merger with AI computing company CoreWeave during a special meeting. The rejection of the all-stock deal, announced in July, prompted a nearly 4% decline in CoreWeave's stock, while Core Scientific's stock saw a slight increase. The proposed