Reddit shares climbed nearly 13% in extended trading on Friday after S&P Dow Jones Indices announced that the social media platform will join the S&P 500, marking a significant milestone for the company less than two years after its public listing. The company will enter the benchmark index on Aug. 18, replacing AvalonBay Communities. According
Wall Street isn’t waiting around! Despite the CLARITY Act being stalled until September, the bigger hands are moving ahead with their crypto ambitions. Here’s the breakdown. NASDAQ files for standardised crypto ETF listings Nasdaq is asking the SEC to make it easier to launch options on crypto-backed ETFs. Under the proposed rule change, certain ETFs
Jeff Park: Bitcoin Will Ultimately Benefit From the Rise of AI While reports have established an inversely proportional relationship between artificial intelligence (AI) and crypto, meaning that investors have been withdrawing funds from crypto and piling them up behind AI stocks, including chip makers and software companies, some are betting on the resilience of crypto.
A Large Bearish Bet on Tokenized SpaceX Shares Onchain analytics account Lookonchain flagged a large short position against SPCX, the tokenized version of SpaceX stock that trades on crypto platforms. The whale placed limit short orders worth approximately $203.47 million at prices between $141.93 and $142.90 per token, a wager that the stock’s price will
A review published by security analyst Yajin Zhou says HKDAP runs on an Ethereum contract that is not production-ready, and has Know-Your-Customer (KYC) and revocation controls that do not work as coded. HKDAP is a Hong Kong dollar stablecoin that Standard Chartered-backed Anchorpoint launched on August 12. What’s wrong with HKDAP’s rules? The security analyst
South Korean IT services giant LG CNS is developing a platform designed to support the issuance, trading, and distribution of stablecoins, according to the company’s half-year report released on Aug. 14. The move signals a significant enterprise commitment to blockchain-based financial infrastructure in one of Asia’s most advanced digital economies. Blockchain as a core R&D
JPMorgan’s reported position in BlackRock’s Bitcoin exchange-traded fund increased by about 25% in the second quarter, while its Ether ETF position more than quadrupled, according to its latest securities filing. The Form 13F filing with the US Securities and Exchange Commission, submitted Wednesday, covers holdings as of June 30 and includes 17 other investment managers
South Korea’s sovereign wealth fund, Korea Investment Corporation (KIC), has taken a new stake in Circle, the issuer of the $USDC stablecoin, according to a recent filing with the U.S. Securities and Exchange Commission (SEC). The filing, dated August 12, reveals that KIC held 65,443 shares of Circle during the second quarter of the year,
Tokenization-related stocks slid Friday after another delay to a long-awaited U.S. regulatory initiative weighed on investor sentiment towards the industry’s expansion into traditional securities. Bullish BLSH$24.71 fell about 8% in early trading, reversing gains following its second-quarter earnings report. The crypto platform, which owns CoinDesk, is acquiring transfer agent Equiniti as it builds infrastructure for