Bank of America (NYSE: BAC) has announced that it plans to spend $250 billion building US infrastructure in the next 18 months. The bank plans to focus on data centers, chips and power generation. The plan lands as a major boost for stakeholders of the AI and computing buildout, even as data centers ramp up
A new U.S. survey has found that 79% of prediction-market users lost money during the past year, while 51% used borrowed funds to place bets. Prediction market losses rise among borrowers BadCredit.org surveyed 1,000 U.S. adults and found that 15% had used a platform such as Kalshi, Polymarket, or PredictIt, placing the consumer findings against
Brazil’s largest bitcoin $BTC$63,696.02 treasury firm, OranjeBTC, is preparing to list a monthly income exchange-traded fund (ETF) that would initially put 95% of its portfolio in Strategy’s (MSTR) preferred stock, STRC, and the rest in Strive’s (ASST) equivalent, SATA. STRC and SATA pay recurring U.S. dollar distributions. The companies’ bitcoin remains on their balance sheets
GSR shifted its Core3 model toward Solana on Aug. 12, raising $SOL to 43.6% of the portfolio and making it the model’s largest allocation. Ether fell to 39.5%, while Bitcoin dropped to 16.9%, the smallest weight among the three assets.The firm said the change reflected a move in its relative alpha signals toward Solana as
The U.S. consumer price index for July delivered exactly what forecasters expected, and for crypto traders, the absence of a macro shock was the story. Headline CPI rose 3.4% year-over-year, the same as projections and a tick below the prior 3.5%. Core CPI, which strips out food and energy, landed at 2.5% annually, matching estimates
Zerohash, a crypto platform that handles the backend operations of high-profile traditional financial firms including Morgan Stanley’s E*Trade, fell short last month in joining the dozens of firms who’ve recently been granted U.S. trust bank charters by the Office of the Comptroller of the Currency. The banking regulator quietly returned the Chicago-based company’s application, leaving
Tokenization platform Securitize (SECZ) reported a net loss of $21.7 million in the second quarter, its first earnings report since going public. Revenue fell 5% year-over-year to $14.4 million, missing market expectations. Shares plunged more than 20% in after-hours trading, reaching a record low. First earnings report since listing Securitize, a leading platform for tokenizing
The U.S. Securities and Exchange Commission’s Division of Investment Management said Wednesday that it would not recommend enforcement action if Franklin Templeton’s U.S. registered funds hold shares of its onchain money market fund through an affiliated blockchain-integrated custody and recordkeeping system. The funds can use Franklin OnChain U.S. Government Money Fund shares for cash management,
Nvidia stock (NVDA) rose early Wednesday as investors appeared to take some comfort from a new financing initiative involving six of Wall Street’s biggest investment firms. Shares rose around 3% to about $223 in early trading. The MoUs announced Monday bring together Apollo Global Management, BlackRock, Blackstone, Brookfield Asset Management, Goldman Sachs, and KKR to