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Crypto
U.S. public pension funds lose nearly 60 percent on Strategy investment
Several U.S. public pension funds have suffered heavy losses after investing in Strategy led by Michael Saylor, the report said. The pension funds were estimated to have lost about $337 million after joining Strategy’s high-risk strategy focused on bitcoin. Of 11 funds, 10 lost nearly 60 percent of their investment. Strategy shares fell 67 percent, in line with a sharp drop in bitcoin prices in recent months.
Crypto
Bithumb sets up investor relief task force, takes full responsibility for all losses
Bithumb said it has prepared measures to take responsibility for a recent Bitcoin mispayment incident. The exchange plans to activate a companywide crisis management system led by executives and set up a dedicated investor relief task force. It will strengthen asset verification and require multi-step approvals, run AI-based abnormal trade blocking 24 hours a day, and carry out an external security inspection with results disclosed. Bithumb said it will fully compensate affected customers and create a 100 billion won customer protection fund.
Mobility
Stellantis says EV shift was too fast, books 22 billion euro loss
Stellantis booked 22 billion euros ($26 billion) in restructuring losses, sending its shares sharply lower in Europe and the United States. CEO Antonio Filosa said the company was overly optimistic about the pace of the energy transition, creating a mismatch with consumer demand, and said past operational failures were also reflected in costs. Stellantis said it will adjust the pace of its electrification strategy based on demand and sell a 49 percent stake in NextStar Energy to LG Energy Solution.
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Telecommunications & Media
HBO 'Industry' season 4 draws attention for its portrayal of tech fraud
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Crypto
Bithumb says it will compensate mistaken bitcoin deposit incident customers 110 percent
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Crypto
FSS dispatches inspection team to Bithumb; Financial Services Commission calls emergency meeting
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Industry
Waymo unveils 'Waymo World Model' autonomous driving simulation technology
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Crypto
Solana jumps 30 percent, but long-term uptrend remains unclear
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Crypto
Nine narratives that could drive the next crypto cycle
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Crypto
Trump family-linked WLFI sells $11 million of bitcoin to avoid DeFi liquidation on Aave
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Crypto
Zcash down 60 percent from November peak after Cypherpunk halts additional buying
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Crypto
Bitcoin slump sparked by IBIT options? Analysis cites Hong Kong hedge fund selling
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Crypto
MegaETH to buy back MEGA with USDM revenue, says tokens released only with results
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Crypto
Cardano recovers 17 percent but technical risks persist despite whale accumulation
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Crypto
ENS halts own layer 2 work, focuses on Ethereum mainnet
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AI & Enterprise
SambaNova seeks over $350 million funding with Intel backing
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AI & Enterprise
Salesforce stops selling Heroku enterprise accounts, cuts back updates
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Crypto
CME Group partners with Google Cloud to develop tokenised cash