06-05-26 panasonic
|
06-05-26 victor
savo, Nakamoto announced a 1-for-40 reverse stock split !!
//
Bloomberg) -- Bitcoin’s slide this week is adding fresh pressure to one of the most ambitious financial experiments to emerge from the recent crypto boom: publicly traded companies created to accumulate digital assets on behalf of investors.
Shares of dozens of these digital-asset treasury companies have continued to sink alongside the broader market downturn, extending losses that in many cases far exceed those of the cryptocurrencies they were built to own. The combined market value of fully diluted Bitcoin treasury company stocks has fallen to about $72 billion from nearly $134 billion at its most recent peak in early October, according to Artemis data, erasing $62 billion and underscoring how a once-hot crypto trade continues to unravel.
Bitcoin has dropped about 15% this week to trade around a four-month lows of around $62,000. The latest retreat, fueled in part by Michael Saylor’s Strategy Inc. announcing its first sale of Bitcoin since 2022, hasn’t been disorderly — unlike the crash last October that shook the digital-asset complex.
Still, companies that once promised investors leveraged exposure to a perpetual crypto bull market are increasingly focused on survival, conducting reverse stock splits, issuing preferred securities, restructuring financing arrangements and, in some cases, selling portions of the crypto assets they once pledged to accumulate indefinitely.
“With prices now unwinding, digital-asset treasuries are faced with a stark choice: default on their debt or sell assets,” said Hayden Hughes, managing partner at Tokenize Capital. “The forced selling has shattered the perception that they would monotonically act as permanent ‘buy and hold’ investors.”
Digital-asset treasury companies, or DATs, were built on a simple premise: public markets would assign a premium to firms willing to stockpile cryptocurrencies, allowing them to issue stock, buy more tokens and repeat the process.
The model worked spectacularly as prices climbed. It has proved far less durable as crypto prices have retreated and investors have become more selective. The latest decline in Bitcoin has only added to the pressure, with the token losing about half its value since its October peak.
On balance, the trade allowed early backers and sponsors to capitalize on investor enthusiasm at the peak of the digital-asset treasury cycle, while retail investors absorbed much of the pain when valuations began to unravel.
“Digital-asset treasuries and other corporate BTC holdings collectively exceed 5% of supply, which accelerated adoption among Wall Street in a sense — but at the cost of heightened volatility for retail participants chasing the ‘easy’ wrapper,” said Akshat Vaidya, who has overseen investments in several DATs as co-founder and managing partner of Arthur Hayes’s family office, Maelstrom.
David Bailey-led Bitcoin treasury firm Nakamoto announced a 1-for-40 reverse stock split as its shares slumped almost 100% in the past year. Japan’s Metaplanet, the world’s third-largest Bitcoin treasury, has disappointed some investors with the lack of progress surrounding its much-anticipated preferred share offering. The stock is down more than 80% from a year ago.
Twenty One Capital has also undergone ownership changes, with SoftBank Group Inc. selling its entire 26% stake to Tether. The company’s shares are down 84% in the past year. ProCap Financial this week announced the sale of 52 Bitcoin to fund a share repurchase.
Carney Mak, a partner at FXHB Asset Management, said the firm included Strategy in its portfolio around two years ago “as a leveraged expression of our Bitcoin view.”
FXHB booked profit on a majority of their Strategy holdings during the rally, though a small portion is now at a loss, which the fund will sell at an “appropriate opportunity to rotate the remaining capital into higher-conviction ideas,” Mak said.
The latest downturn has only intensified those pressures. Investors have pulled billions of dollars from spot Bitcoin exchange-traded funds, geopolitical tensions have pushed money toward traditional safe havens and many of the DATs that emerged during the boom have fallen far more than Bitcoin itself.
“In hindsight, the more interesting lesson is not whether Bitcoin was the right call, but whether the Bitcoin treasury trade had become too crowded,” FXHB’s Mak said. “By the time a growing number of companies were attempting to replicate the MSTR playbook, much of the scarcity value had arguably already been captured.”
The strains are most visible among smaller companies that copied Strategy’s model without its scale, liquidity or access to capital, pushing them to experiment with ways to keep the model alive. What was marketed as a simple accumulation strategy has evolved into a scramble for capital as stock-price premiums disappear.
Like many financial manias before it, the DAT boom looked most durable near the top. Months after the excitement faded, the unwind continues.
“The market is not fine, and it took the tide going out to see who was swimming naked,” Tokenize Capital’s Hughes said. “Turns out, it was DATs and their equity holders.”
|
|
06-05-26 panasonic
AI babies are growing fast, so fast Anthropic is scared:
https://www.wsj.com/tech/ai/anthropic-urges-global-pause-in-ai-development-flags-self-improvement-risk-99cefb73 |
|
06-05-26 pillz
Asian stocks declined along with US equity-index futures as enthusiasm for the artificial intelligence trade cooled after driving markets to record highs this year.
MSCI’s regional equity gauge dropped 2.1%, with South Korea — the world’s best-performing gauge this year and a bellwether for AI investments — tumbling 6.5%. Futures contracts for the Nasdaq 100 Index dropped 1.3%, indicating a third day of losses for the gauge as investors rotate out of technology and chip stocks. |
|
06-04-26 Merlino
| https://www.venezuelaenergyweek.com/ |
|
06-04-26 victor
Former Trump adviser John Bolton expected to plead guilty over mishandling classified information: Sources
President Donald Trump's former national security adviser John Bolton is expected to plead guilty over mishandling classified information, sources familiar with the matter told ABC News Thursday.
Bolton could not immediately be reached for comment. The Department of Justice is declining to comment.
Bolton is expected to plead guilty to one count of illegal retention of sensitive documents, sources familiar with the matter said. Sources told ABC News that Bolton has also agreed to pay a fine of $2.25 million.
The count that he's pleading guilty to involves keeping classified national security information in diaries, according to a source familiar with the matter. Bolton is expected to maintain that he did not take documents with classification markings out of government offices.
Bolton is expected to maintain that there's no classified information in his 2020 memoir "The Room Where It Happened," but that he wants to take responsibility for his actions, sources familiar with the matter told ABC News.
There is a rearraignment scheduled for June 26, which indicates it's intended for Bolton to plead guilty.
|
|
06-04-26 spal
| Frontera ... delivering ... target $15+ year end. |
|
06-04-26 carib
| Not being greedy.. For me it's enough if PDVsa 24 recovery value goes up to 60 to deserve the dinner.. |
|
06-04-26 panasonic
| 3x from here, count me in :-)) |
|
06-04-26 leopardo
|
06-04-26 carib
| Leo: I think we had planned a "fat duck" dinner.. |
|
06-04-26 leopardo
|
06-04-26 panasonic
"owe Savo that dinner"
I'll join. |
|
06-04-26 carib
| .. in which case I really owe Savo that dinner.. |
|
06-04-26 savo
| pana...for the moment in the 20s of total claim..should triple from here. |
|
06-04-26 panasonic
| ...and pdvsa bonds should be trading in the high 50's. |
|
06-04-26 carib
|
06-04-26 panasonic
Carib, priority seems to be safety for oil cos. employees, legal frame tune up, money will flow.
27 years of devastation can't be fixed in 6 months. |
|
06-04-26 panasonic
|
06-04-26 panasonic
| Vic, dont see btc bouncing, maybe 6pk is a good technical level for those interested. |
|
06-04-26 carib
What was general Caine doing in Caracas this week?
|
|
06-04-26 carib
| El Departamento de Estado de los Estados Unidos habría solicitado al gobierno interino de la presidenta Delcy Rodríguez modificar el reglamento de la Ley Orgánica de Hidrocarburos por considerar que aún permite una discrecionalidad importante en la fijación de las regalías y los pagos del impuesto integrado de hidrocarburos y del impuesto sobre la renta (ISRL), así como de otras contribuciones parafiscales. |
|
06-04-26 savo
victor... that is the way things are these days...once they got away with the epstein files it is free bar at the top...the UST steals iranian bitcoins... Orban does the same with Ukranian gold...
|
|
06-04-26 victor
Una investigación atribuye directamente a Orbán el asalto al ‘convoy de oro’ ucraniano
El primer ministro, Péter Magyar, dice que su antecesor deberá asumir su responsabilidad en el caso
La decisión de detener a siete empleados del banco público ucraniano Oschadbank que transportaban dinero y oro por territorio húngaro fue ordenada personalmente por el entonces primer ministro de Hungría, el ultranacionalista Viktor Orbán, asegura una investigación del portal Telex.
El anterior Gobierno húngaro decidió el 5 de marzo pasado, en plena campaña para las elecciones legislativas del 12 de abril, asaltar el ‘convoy de oro’ ucraniano pese a que no existía ninguna justificación profesional para esa operación. |
|
06-04-26 victor
carib, now that orban is gone..
//
Ucrania hace retroceder a Rusia en el frente por segundo mes consecutivo
|
|
06-04-26 victor
| pana, btc up again rather quickly |
|
06-04-26 panasonic
Vic, seems that Mark Cuban's hard words on btc did more damage than Saylor's selling a small batch.
Still a very good vehicle for money laundry. |
|
Board
