South Korean memory chip maker SK Hynix has pulled off something only one other domestic company has ever managed. Its market capitalisation broke past 2,000 trillion won, equal to roughly $1.32 trillion, on Friday. Samsung Electronics remains the only other Korean firm to have crossed that threshold. The jump came as semiconductor stocks dragged South
Kalshi has exceeded a $2 billion annualized revenue run rate as the prediction market operator has begun early discussions with investment banks about a potential initial public offering, according to a report from The Information. The Information, citing people familiar with the matter, reported that Kalshi has held informal talks regarding an IPO while continuing
Digital asset company AllUnity is launching SEKAU, a Swedish krona-backed stablecoin issued under the European Union’s Markets in Crypto-Assets Regulation (MiCA). The new token operates as an e-money token under MiCA, according to a statement shared with Cointelegraph on Friday. It is backed by segregated Swedish krona reserves and targets institutional settlement and cross-border payments.
Goldman Sachs lowered its year-end gold forecast by $500 an ounce, citing expectations that the US Federal Reserve won’t cut interest rates this year. The revised target places gold at $4,900, down from earlier estimates of $5,400. It comes on the assumption that the next Fed cuts could be pushed to March 2027 and December
Spot Bitcoin and spot Ethereum exchange-traded funds (ETFs) traded in the US were affected by investor outflows on June 18. According to the latest data, both Bitcoin and Ethereum-focused ETFs recorded net outflows for the second consecutive trading day. This is seen as one of the developments indicating a short-term weakening of institutional investor appetite
Prominent financial commentator and Euro Pacific Capital Chief Economist Peter Schiff has launched a scathing attack on Strategy (MSTR), its founder Michael Saylor, and mainstream financial media after a sharp correction in the company’s equity. Schiff, a notorious Bitcoin skeptic, is convinced that the company’s heavily leveraged crypto-treasury model is unwinding. An orange jumpsuit? According