Musk Floats SpaceX-Tesla Merger With 30,000 Bitcoin | CoinDesk Daily

Elon Musk said SpaceX and Tesla are exploring a merger, but the statement describes a possibility rather than a completed deal. Together, the companies hold 30,221 Bitcoin. SpaceX reported revenue of about $14.5 billion, above estimates, while Tesla was scheduled to report its results after Wednesday’s market close.

The Office of the Comptroller of the Currency’s first final rule under the Genius Act sets conditions for crypto exchange stablecoin rewards. It requires federal sign-off for those programs and prohibits payments made solely for holding stablecoins. The rule does not provide a safe harbor for programs already in operation.

Coinbase, Kraken, and PayPal will therefore have to assess their stablecoin reward programs case by case under the OCC rule. The transcript does not establish that any of the programs will be approved or rejected; their treatment depends on how they fare under the new requirements.

Zcash developers expect the Nu7 upgrade to nearly triple transaction speed and have set its activation for around November 5. At activation, Zcash’s original privacy system, Sprout, will shut down.

Any coins still held in Sprout when Nu7 activates will become unspendable, so holders have until early November to move them. The timing makes the upgrade a performance change as well as a deadline for users whose coins remain in the legacy system.