OpenAI is planning to establish a joint venture with leading private equity firms to accelerate the distribution of its enterprise AI products. According to Reuters, the company is engaging with TPG, Advent International, Bain Capital, and Brookfield to launch the venture, which is expected to be worth about $10 billion, with $4 billion in backing,
Bitcoin’s $BTC$74,244.92 recent strength during geopolitical uncertainty reflects a fundamental shift in the asset’s ownership structure, according to Wall Street broker Bernstein. The cryptocurrency climbed roughly 7% last week, with ether (ETH) gaining about 9%, outperforming gold and global equity indices as markets reacted to escalating global conflict. The broker said the performance highlights how
Cryptocurrencies started the week on a strong footing with bitcoin $BTC$74,244.92 surging above $74,000 and U.S. equities bounced as oil prices eased. In morning U.S. trade, $BTC hit its strongest price since early February at $74,500, up 3.9% over the past 24 hours. The largest crypto broke out of its six-week range, boosting sentiment across
Japanese bitcoin treasury firm Metaplanet (3350) said it raised about 40.8 billion yen ($255 million) from global institutional investors through a placement of new shares, part of a financing structure that could provide up to $531 million in total capital to support its bitcoin accumulation strategy. The Tokyo-listed company priced the new shares at a
Crypto wealth platform Abra said it plans to go public through a merger with special purpose acquisition company New Providence Acquisition Corp. III in a deal that values the firm at $750 million. The combined company will be renamed Abra Financial Inc. and is expected to list on Nasdaq under the ticker ABRX, according to
Crypto investment products continued their momentum last week, signaling resilience to geopolitical stress and strengthening the case for Bitcoin’s role as a safe-haven asset. Crypto exchange-traded products (ETPs) recorded $1.06 billion in inflows last week, led by $793 million into Bitcoin (BTC), CoinShares reported on Monday. The inflows mark three consecutive weeks of positive flows
Although there are signs of recovery in the cryptocurrency market, warnings continue that the bear market is far from over. Gracy Chen, CEO of global cryptocurrency exchange Bitget, stated that liquidity in the markets has not yet fully recovered and that it is too early to say that the bear market for Bitcoin is over.
Strategy (MSTR), the world’s largest publicly traded holder of bitcoin, continued with its large string of weekly purchases, adding $1.57 billion worth of BTC, according to a Monday filing. Led by executive chairman Michael Saylor, the company added 22,337 bitcoin at an average price of $70,194 per coin, bringing holdings to 761,068 coins, acquired for
The leading cryptocurrency, Bitcoin ($BTC), started the new week with an increase. The $BTC price rose above $74,000 before giving back some of its gains and falling back to around $73,000. Although Bitcoin has outperformed stocks or gold since the US-Iran conflict, it remains more than 40% below its peak last October. Bitcoin is recovering
Oil prices continue their upward trajectory amid persistent tensions in the Middle East. Brent crude reached above $106 per barrel on Sunday before pulling back modestly in early Monday trading. Against this backdrop, retail demand for oil exposure is surging. Trailing one-month retail purchases in pure-play oil ETFs hit a record $211 million on Thursday.