Citadel has reduced over 80% of the risk it acquired from the Situational Awareness fund, which faced heavy losses after a sharp selloff in Bitcoin mining stocks. The fund, managed by Leopold Aschenbrenner, saw a 67% drop in July due to leveraged positions in semiconductor and Bitcoin mining companies. Citadel's quick distribution of these positions may reduce forced selling in the Bitcoin mining sector, potentially stabilizing the market as Bitcoin prices recently rose about 7%. This move could ease pressure on mining stocks and improve crypto market sentiment going forward.
Leading Bitcoin mining firms invested $5.1 billion in AI and high-performance computing (HPC) infrastructure in the first half of 2026 but generated only $341 million in related revenue, highlighting a significant 15:1 investment-to-return disparity....
Investment adviser Ross Gerber renewed criticism of Bitcoin's practical utility, stating that physical gold remains easier to use in most places worldwide. Despite previously supporting Bitcoin and offering exposure to clients, Gerber expressed skept...
