Crypto carbon in the spotlight... Cryptocurrency prices plunged last week after a bombshell tweet from Elon: Tesla will no longer accept Bitcoin payment, because it burns too much fossil fuel. At one point, as much as $365B was wiped from crypto market value. Now, Tesla is looking at altcoins that use <1% of Bitcoin’s energy. The big reckoning with crypto’s energy footprint could boost companies building greener crypto pipes… and potentially add volatility.
IPOh No... IPOs kicked off 2021 hot and heavy, raising a record $162B in the first quarter. But the momentum seems to be cooling: big IPOs like Bumble and Coinbase have struggled in recent weeks, as many inflation-worried investors move away from high-growth stocks. Now, a few IPOs are getting delayed as market volatility spooks companies.