Allbirds, a once-popular shoe brand, rebranded to Smartbird – an AI company – a few months ago, and the stock soared. While shares had been slowly – and then quickly – deteriorating since the brand’s IPO, on news of this pivot, they quickly shot up to over $20 overnight, an increase of over 800%. But
The leading crypto stocks, including Coinbase (COIN), Bitmine (BMNR), and Circle (CRCL), have stayed in the red today as $BTC and other crypto prices have hovered near the flatline. In addition, the Fed rate hike fear, especially after Fed Chair Kevin Warsh’s remarks last week at Jackson Hole, might have also stalled the much-anticipated rally
Blockchain enterprise solutions provider Ripple has partnered with digital asset infrastructure company SettleMint to offer financial institutions solutions for custody, issuance and management of tokenized assets across their full lifecycle. The strategic partnership will integrate Ripple’s institutional digital asset custody infrastructure, Ripple Custody, and SettleMint’s Digital Asset Lifecycle Platform (DALP) to offer institutions a less
Stablecoin payments company Kast has launched a platform combining business accounts, payment cards, cross-border transfers and yield-bearing balances on stablecoin rails. Kast said its KAST Business platform allows companies to receive funds through fiat virtual accounts provided by regulated partners, deposit supported stablecoins and crypto, issue virtual cards and make local payouts in more than
A group of 21 financial institutions, including Bank of America, Citi, Goldman Sachs and UBS, plans to form a company that will issue stablecoins for payments and digital asset transactions, it said Tuesday. The company, which is yet to be named, is expected to be established in the second half of the year, subject to
Hashdex’s Nasdaq CME Crypto Index ETF (NCIQ) has expanded its portfolio to nine assets with the addition of Hyperliquid’s $HYPE token, according to a Tuesday press release. The move brings one of the largest decentralized trading platforms into a diversified crypto investment product. $HYPE was added to the NCIQ effective Tuesday after qualifying for inclusion
Markets are said to hate uncertainty, and traditional finance is serving it right now from all directions, including the institutions that set the rules. An article published in NHK today is a perfect example. The Tokyo-based newspaper said U.S. Treasury Secretary Scott Bessent encouraged Japan to raise interest rates to stem the ever-sliding yen. That’s
OpenAI’s founders are on the cover of TIME magazine’s Sept. 7 issue, arms crossed beneath the headline “Trust Us.” For AI bulls, it is a milestone. For contrarians, it is also the kind of mainstream cultural moment that has marked the late stages of past market manias. The idea is known as the magazine-cover indicator.
Cantor Fitzgerald, a Wall Street investment bank, has increased its price target on Coinbase Global Inc. to $212 from $184, while maintaining an overweight rating on the cryptocurrency exchange. The adjustment reflects a broader recovery in the digital asset market, with Bitcoin recently climbing to $80,000, according to a research note from the bank. Why