Key Takeaways OpenAI is preparing for an initial public offering (IPO) with a potential $1 trillion valuation. The company has restructured as a public benefit corporation. OpenAI is preparing for an initial public offering with a potential valuation of $1 trillion, according to Reuters today. The AI research organization recently restructured into a public benefit
The Hong Kong Stock Exchange has “blocked” the transformation plans proposed by at least five listed companies seeking to convert into digital asset treasury (DAT) entities, according to reports from Wen Wei Po News. Sources cited by foreign media said the Hong Kong Stock Exchange has yet to approve any listing or transformation application related
The cryptocurrency exchange-traded fund (ETF) market has been shaken by large net outflows in both Bitcoin and Ethereum funds. This volatility, reflecting a decline in investor risk appetite, has raised concerns in the markets. According to the latest data from SoSoValue, spot Bitcoin ETFs saw a total net outflow of $471 million. The fact that
Trading firm DRW Holdings and venture capital firm Liberty City Ventures are reportedly seeking to raise around $500 million for a publicly listed digital asset treasury that will hold the Canton Network’s native token, Canton Coin. According to a report from Bloomberg, citing unnamed sources, DRW Holdings and Liberty City Ventures will contribute the majority
The European Central Bank is reportedly aiming to launch its digital euro in 2029, provided a legal framework can be hammered out. Officials working on the central bank digital currency will continue to lay the groundwork after the current preparation phase concludes this month, Bloomberg reported on Wednesday, citing people familiar with the matter. ECB
US President Donald Trump and Chinese Communist Party leader Xi Jinping have met face-to-face in South Korea to stabilize relations and resolve tariff tensions. Before the bilateral meeting, Trump indicated that the parties are showing signs of alignment, stating: “We’ve already agreed to a lot of things and we will agree to some more right
Concerns that crypto stablecoins will harm US banks by cannibalizing banking deposits are ill-placed and don’t consider the real-world uses of the tokens, according to Coinbase researchers. “The ‘stablecoins will destroy bank lending’ narrative ignores reality,” Coinbase policy chief Faryar Shirzad said on Wednesday. “Most stablecoin demand comes from outside the US, expanding dollar dominance
Uphold to launch digital asset-backed loans starting December U.S.-based crypto firm Uphold has proposed crypto loans in XRP, ETH, USDC and BTC. Service rollout. Uphold announced plans to introduce digital asset-backed loans in December, beginning with a Florida launch. On October 28, Uphold revealed plans to launch digital asset-backed loan services beginning in December, starting
Asian and Pacific(APAC) jurisdictions chart divergent digital currency development paths. Some are advancing central bank digital currencies while others embrace private stablecoins. Hong Kong completed its e-HKD pilot program on October 28, while Japan’s JPYC stablecoin surpassed 50 million yen within 48 hours. South Korea warned about depegging risks, and Australia clarified stablecoin regulatory requirements