| Mobile Web

Search results for Chapter 11

Crypto

Crypto industry\'s \'winner-takes-all\' trend deepens as exchange closures and takeovers mount

The crypto industry is restructuring as revenue concentrates in a small number of protocols, pushing the market into what was described as its biggest consolidation phase. Ark Invest analyst Lorenzo Valente said selective investment has made funding harder for projects and exchanges with weak product-market fit, leading to shutdowns and revenue pooling. Hyperliquid and Pump.fun account for about 67 percent of app revenue, and adding Ethena brings the top three close to 80 percent.

Mobility

Volvo withdraws EX90, ES90 lidar features, offers cash compensation to existing buyers

Volvo is halting development of lidar-based functions for its electric EX90 SUV and ES90 sedan and has begun compensating existing buyers. The vehicles have lidar hardware, but the related software features will not be released. Volvo has ended its partnership with supplier Luminar, a company spokesperson in Norway said. Compensation varies by country, including payments in Norway and cash-equivalent options in the United States, as well as refunds in Europe and Canada.

Crypto

Storj Labs files for bankruptcy protection, seeks way for token holders to take equity

Storj Labs, a decentralised storage provider, has filed for Chapter 11 bankruptcy protection in the United States. It said it will maintain network operations and customer service during restructuring and is considering a plan to allow STORJ token holders to participate in equity of the reorganised company. The firm said most of its debt predates its current strategy and is too large to resolve through growth alone.