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Crypto
Bitwise to cut workforce by 14 percent as crypto slump hits ETF firms
Bitwise cut about 14 percent of its workforce, reducing headcount from around 180 to about 155. The layoffs come as weakness in the cryptocurrency market spreads to spot bitcoin ETF issuers. Bitwise manages more than 70 products and about $9 billion in assets, including a $2.3 billion spot bitcoin ETF. The spot bitcoin ETF market totals about $77.5 billion, but assets are concentrated in larger funds such as BlackRock’s IBIT and Fidelity’s FBTC.
AI & Enterprise
Nvidia to invest $1 billion in Naver to support AI data centre buildout
Nvidia will invest $1 billion in Naver to help fund an AI data centre the South Korean company is building, Bloomberg reported on Thursday. The investment will allow Naver to expand the data centre to more than three times its existing size, the report said. The facility is being co-developed with U.S. private equity firm Brookfield and will use Nvidia AI computing hardware. Nvidia is also building an AI data centre of more than 2 gigawatts with SK Group in South Korea.
AI & Enterprise
Databricks starts new fundraising talks at $165 to $175 billion valuation
Databricks is discussing a new fundraising round at a valuation of $165 billion to $175 billion, The Information reported on Sunday. The valuation would be up sharply from $134 billion at the end of last year. The new round could begin as soon as within a month and final terms have not been set. CEO Ali Ghodsi called 2026 the worst year to list, Bloomberg TV reported.