American Bitcoin Corp., a Bitcoin mining and treasury firm partly owned by Eric Trump, saw its stock plunge 97% from $217 to $5.98, erasing about $600 million of Eric Trump's stake. The sharp decline forced a 1-for-5 reverse stock split to maintain Nasdaq listing. Despite the stock crash, the firm increased its Bitcoin holdings to 8,000 coins and claims strong mining profit margins. The broader Bitcoin treasury demand has weakened, with major buyers like Strategy selling off BTC, raising questions about the crypto market's bottom and future treasury demand.
On July 10, US spot Bitcoin ETFs attracted $90.4 million in net inflows, while Ethereum ETFs gained $18.4 million, indicating a cautious return of institutional capital after a massive $4 billion outflow in June. This inflow follows a break in a 10-d...
Meta has discontinued its new AI feature, Muse Image, which allowed users to generate images using photos from public Instagram accounts. The tool faced immediate criticism for privacy concerns, as it was automatically enabled without explicit user c...
The RiverNorth Opportunities Fund (RIV) provides a high yield of 13.48% by investing tactically in closed-end funds, SPACs, BDCs, and ETFs. Its largest allocation to special purpose acquisition companies (SPACs) adds diversification but also increase...
Pendle has upgraded Bungee Exchange to version 3, enabling users to swap tokens across different blockchains into Pendle's principal tokens (PT) and yield tokens (YT) with a single click and no need to hold native gas tokens on the destination chain....
Sodexo reported a 2% increase in organic revenue for Q3, surpassing expectations with strong growth in the Rest of World segment at 10.6% and stable commercial trends. The company raised its full-year sales growth forecast to between 1.2% and 1.5%, a...
