A new group of industries is reshaping political spending in the US as cryptocurrency, artificial intelligence and online betting companies pour money into the 2026 midterm elections. Corporate spending on House and Senate races reached $517 million in the 15 months through the end of the first quarter, already exceeding the $461 million spent by
Investor Chamath Palihapitiya issued a warning in an X post on Thursday. He argued that the political finger-pointing surrounding the construction of AI data centers could lead to the loss of 200 to 300 basis points of annual US GDP if the fighting continues. Chamath pointed to backlash from states like Texas, Ohio, and Pennsylvania
Hudson River Trading signed a multiyear agreement worth billions of dollars with CoreWeave to expand the computing infrastructure used for its trading research and models. The agreement builds on an existing partnership between the companies and represents a material expansion of their relationship, CoreWeave Chief Revenue Officer Jon Jones told Bloomberg. He declined to disclose
Franklin Templeton is preparing to use tokenized assets inside conventional investment funds after receiving SEC staff relief allowing its funds to invest in shares of its blockchain based money market fund. The SEC Division of Investment Management said in an August 12 no action letter that it would not recommend enforcement action against Franklin funds
Happy Thursday, advisors! In today’s newsletter, Laurie Rosini, partner at McDermott Will & Schulte, explains why banks are moving deposits on-chain via permissioned environments. Then, in “Ask an Expert,” Morva Rohani breaks down the differences between stablecoins and tokenized deposits. Happy reading. – Sarah Morton Tokenized deposits are going on-chain — but they won’t be
Beldex, a privacy-focused blockchain infrastructure company, has raised $8 million in a new funding round, bringing its total capital raised to $36 million. The company is working on encryption tools aimed at artificial intelligence agents alongside its existing suite of privacy products. The round was led by Sigma Capital, with participation from NTC, Nxgen, Digital
Intercontinental Exchange has signaled it may put more money into Polymarket’s next funding round after building a $1.64 billion stake in the prediction market platform. Bloomberg reported Thursday that ICE Chief Executive Officer Jeff Sprecher said the New York Stock Exchange parent would consider participating if its involvement could help Polymarket complete the round. “We’ll
In a notable shift in U.S. equity market activity, Strategy (MSTR), the Bitcoin treasury company formerly known as MicroStrategy, has climbed to 17th place in trading volume rankings, surpassing tech giant Google (GOOG). The data, compiled by BitcoinTreasuries.net, highlights the growing investor interest in companies with significant Bitcoin holdings. Market Activity and Investor Sentiment Trading