← All editions
Edition · 2026-07-08
More Top Stories
TeraWulf announced a 20‑year lease with Anthropic to host AI computing at its Justified Data campus in Hawesville, Kentucky, sending its shares up about 4%. The lease covers about 401 megawatts of computing capacity, with the first power expected in the second half of 2027 and full operation by early 2028, according to the company. It is projected to generate roughly $19 billion in contracted revenue over its initial term, a figure larger than TeraWulf’s current market value of about $12 billion. TeraWulf, which began as a bitcoin miner, will sell its 50.1% interest in a Texas data‑center joint venture for $530 million, monetizing roughly $450 million of invested capital and freeing cash to expand its own data‑center portfolio. The company said the deal reflects a broader industry shift in which crypto miners are pursuing steadier AI‑computing contracts as bitcoin prices have softened. The arrangement underscores how AI hosting is reshaping the economics of former cryptocurrency miners, while TeraWulf continues to operate a bitcoin mining operation.
Cantor, a Wall Street investment bank, said that restoring Strategy's STRC preferred stock to par value is the company's top priority and essential to restarting its bitcoin acquisition engine. The preferred security is currently trading around $87.79, and Strategy has sold $216 million of bitcoin to fund STRC dividends, aiming to increase cash reserves that now cover roughly 18 months of dividend payments. Analysts led by Ramsey El-Assal noted that buying STRC at a spread to par offers both yield and price upside, while purchasing MSTR common shares could benefit from an improved capital structure. The bank expects cash reserves to continue growing until the preferred stock returns to par, which would enable further equity issuance for bitcoin purchases. Management may also consider share buybacks if needed, but cash remains the primary tool. JPMorgan previously warned that selectively selling bitcoin to fund preferred dividends creates two-way risk and heightened market volatility. The report dismissed concerns about upcoming convertible debt maturities, suggesting the firm should either reactivate its STRC-driven capital engine before major repayments or refinance the debt. The recovery of STRC is viewed as a prerequisite for Strategy to resume broader bitcoin acquisitions and strengthen its balance sheet, though a timeline for returning the preferred stock to par has not been specified.
SpaceX is set to join the Nasdaq 100 index on July 7 after completing a $75 billion initial public offering on June 12, which peaked at $225 per share before falling to $162. The IPO, the largest ever recorded, generated strong interest in AI and semiconductor companies. Historical data show that previous index additions such as Palantir and Strategy peaked around their inclusion dates and subsequently declined, with Palantir’s stock dropping about 25 percent and Strategy’s declining roughly 80 percent from their highs. SpaceX’s shares rose sharply after the offering, reaching a high of $225 and then losing 28 percent from their all‑time high. Analysts note that the index inclusion may already reflect anticipated investor demand, and the market’s reaction following the July 7 addition remains to be seen.
Samsung Electronics said it expects operating profit of 89.4 trillion won for the April‑June quarter, a 19‑fold increase from the prior period, marking its third consecutive qua...
By · 50d ago · Source: bbc
Samsung Electronics said it expects operating profit of 89.4 trillion won for the April‑June quarter, a 19‑fold increase from the prior period, marking its third consecutive quarterly record. The company released the earnings guidance on Tuesday, forecasting sales of about 171 trillion won, more than double the amount recorded a year earlier. Samsung attributed the profit rise to heightened demand for memory chips used in artificial intelligence, which has constrained supply and led to higher prices. IDC researcher Bryan Ma noted that demand for semiconductors in data‑center and AI infrastructure differs from traditional memory market patterns and that tight supply is likely to persist through next year. Samsung’s shares fell more than 8% in Seoul on Tuesday, while its market capitalization has more than doubled since the start of the year and SK Hynix has risen by over 200%. The strong performance of Samsung and SK Hynix has contributed to a more than 80% increase in South Korea’s KOSPI index this year. Nvidia reported record quarterly revenue of more than $80 billion for the January‑March period, but its stock declined amid concerns about competition in the sector. In June, South Korea announced a plan to invest at least $880 billion in semiconductor manufacturing projects led by Samsung and SK Hynix, with additional funding from Japanese, Chinese and Taiwanese firms. The investment plan seeks to expand chip production capacity, though the timing of meaningful supply relief remains uncertain.
BlackRock’s model portfolios set a 1% to 2% Bitcoin allocation range, creating a ceiling that influences advisor decisions during price rallies. The firm says the range is appropriate for investors who believe in continued adoption and can tolerate sharp price swings. A 1% Bitcoin holding adds about 2% to a traditional 60/40 portfolio’s risk, while a 2% holding adds about 5%, and a 4% holding adds about 14%.
Advisors can manage the position by trimming, widening rebalancing bands, using options or borrowing against Bitcoin. A 2% sleeve requires roughly a 51.5% Bitcoin gain for the allocation to drift to 3% and about a 104% gain to reach 4%, at which point resetting to 2% would involve selling roughly half of the sleeve.
BlackRock’s IBIT ETF has recorded nearly $60 billion in net inflows as of early July. Citi lowered its 12‑month Bitcoin price target to $82,000 and cut inflow assumptions after ETF flows turned negative. Spot Bitcoin ETFs lost more than $2.7 billion in ten days in late June.
Mauricio Di Bartolomeo of Ledn notes that many borrowers use Bitcoin as collateral rather than sell, arguing that financing can preserve the asset’s value. He says borrowers should hold collateral equal to at least 100% of the loan value to manage volatility, and that forced sales are not inevitable.
Kelly Ye of CoinBridge argues that most Bitcoin ETF activity remains self‑directed, with about 80% coming from individual investors and 20% from advisors. She says wirehouses require six to twelve months of due diligence before adding Bitcoin to a centralized model, limiting immediate advisor exposure.
The options market shows growing use of Bitcoin‑linked ETF options, with open interest reaching $53.3 billion in the first year. Goldman Sachs has filed for a Bitcoin ETF that pairs exposure with options income.
Analysts describe four possible responses when Bitcoin breaches the 2% cap: trimming, wider bands, options overlays, or borrowing. Wider bands and new contributions can reduce tax impact, while retirement accounts can hold larger Bitcoin slices, deferring taxes. Options strategies let advisors generate income or protect downside without selling spot BTC.
Mechanical trimming could become recurring as model‑portfolio platforms expand, creating periodic supply from advisors during rallies. At the same time, increased Bitcoin‑backed lending could lead to forced liquidations if prices fall sharply. The current environment reflects a shift from a hold‑forever mindset to a managed sleeve governed by rebalancing rules, tax location and lending options.
Whether the managed approach will dominate or give way to broader toolkits remains uncertain as the market matures.
MiCA's licensing regime took effect on July 1, determining which firms can distribute stablecoins within the European Union. Authorized crypto‑asset service providers may continue operations, while unauthorized firms must cease new client onboarding, stop marketing, and limit activities to the settlement of existing positions. The European Securities and Markets Authority updated its interim register on July 3, two days after the grandfathering period expired. MiCA establishes uniform rules for crypto‑asset issuers and service providers, covering transparency, disclosure, authorization and supervision.
CACEIS and Crédit Agricole introduced EURXT, a euro‑denominated electronic money token on Ethereum, on July 1. The token is pegged to the euro, backed one‑to‑one by cash held on CACEIS Bank’s balance sheet, and is offered to institutional investors and corporate clients for settlement of a tokenized Amundi money market fund. The structure ties the token to a regulated financial group and a distribution channel already familiar to supervisors.
DZ Bank obtained BaFin MiCAR authorization at the end of December 2025 for meinKrypto, a wallet and trading service that will be embedded in the VR Banking App. The service will initially support Bitcoin, Ethereum, Litecoin and Cardano, and a study indicates that more than one‑third of cooperative banks intend to adopt the solution. Users can access crypto through existing banking applications rather than separate platforms.
Revolut announced on July 4 that it will phase out USDT for European users, ending new deposits on July 30, halting sales or withdrawals to external wallets on August 31, and converting remaining balances to fiat after that date. The move reflects platform risk management under MiCA rather than a direct prohibition of the token.
The regulatory framework makes authorization, custody and app distribution the primary gates for compliant crypto access. Large banks and licensed institutions therefore gain distribution advantages, while users relying on non‑compliant platforms may face reduced access to USDT liquidity. The impact will be seen in venue support, app availability and settlement use cases rather than in a single legal announcement.
Mecha Chameleon, an online multiplayer game developed by a two‑person team, has reached 15 million sales on Steam less than a month after its June 10 launch. According to a Steam community blog post, the game launched without any prior marketing and quickly rose through the platform’s charts. The game pits Seekers against Hiders in a hide‑and‑seek format where Hiders paint their characters to blend with the environment while Seekers attempt to locate them. The developer, lemorion_1224, announced that a collaboration with a famous Japanese star would begin next week, saying, “Thanks a million. Get ready for a new collaboration with a famous Japanese star next week!” On X, users have speculated about the identity of the collaborator, mentioning YouTuber Hikakin and painter Harumichi Shibasaki, who previously collaborated with Minecraft. The game has received frequent updates since launch and has attracted attention from streamers, leading to community‑generated tips and map guides. The developers have not confirmed the collaborator’s identity, leaving the announcement pending until the scheduled reveal. Mecha Chameleon’s sales indicate strong demand for indie titles on digital platforms.
Xbox CEO Asha Sharma said the company’s strategy had spread resources too thin after several bets on Game Pass, multiplatform expansion, and a larger studio base. In an interview with Fortune, she said the focus on new ventures had left the core business weakened. She described the current Xbox situation as unhealthy, citing a shortage of hardware components driven by AI‑driven demand. Sharma said the restructuring, which she called a reset, would allow Microsoft to better weather the hardware crisis. The announcement included the immediate loss of about 1,600 Xbox positions, with an additional 1,600 cuts expected over the next year. Microsoft also said it was spinning out Double Fine and Compulsion and planning to sell Ninja Theory and Undead Labs, while the buyer for those studios has not been confirmed. Arkane Lyon is currently in a consultation phase that will determine the future of its Marvel’s Blade project. The layoffs affect roughly 4,800 employees across Microsoft, representing about 2% of the company’s workforce. Sharma emphasized that the moves are intended to refocus resources on the core Xbox business.
Microsoft announced a major restructuring of its gaming division that includes layoffs, studio sales, and other changes, raising questions about the future of Arkane Lyon and its Blade game.
The announcement is part of a broader reset of the company's business strategy.
Ninja Theory and Undead Labs are being sold, while Double Fine and Compulsion are operating independently. Arkane Lyon is currently in a required consultation with its French Works Council, a step mandated by local labor law, and its future remains undetermined. The studio could be sold, go independent, or shut down, similar to previous outcomes for other Arkane studios. The Blade game, announced in December 2023, has not been canceled publicly, but its development status is uncertain if Arkane Lyon changes hands; Disney, which owns Marvel, is expected to be involved in any transaction. Arkane co‑founder Raphael Colantonio, who is no longer with the studio, asked on social media how much the studio might cost to acquire. A report from The Verge indicated the game was over budget and delayed, moving its target release from 2026 to late 2027, and it did not appear at the June Xbox Games Showcase. The game is a third‑person action‑adventure set in Paris, with no gameplay footage released. Arkane Lyon previously developed Dishonored titles, known for its world‑building and level design. The Blade film starring Mahershala Ali has experienced long‑standing development challenges.
The outcome of the consultation and any potential sale of Arkane Lyon will determine the trajectory of the Blade project, which remains unresolved.
Xbox announced a major restructuring that will reduce five studios and cut about 20% of its workforce during the fiscal year, a shift Xbox head Asha Sharma described as the most significant restructure in Xbox history. Microsoft said it will eliminate roughly 1,600 positions immediately and plans to cut an additional 1,600 positions in the coming months. According to Bloomberg's Jason Schreier, Id Software lost 95 employees and Bethesda Game Studios removed 35 staff members, while other units within ZeniMax Online Studios also saw layoffs. The restructuring will keep development on major franchises such as Fallout, The Elder Scrolls, Wolfenstein, Doom and Quake, and ongoing projects including InXile’s Clockwork Revolution, The Coalition’s Gears of War: E-Day, and titles from Ninja Theory and Undead Labs, though the future of Marvel’s Blade remains unclear. Sharma noted that the focus will be on higher‑priority projects within Bethesda and ZeniMax, but the long‑term impact on release schedules and studio operations is yet to be determined.
This edition was assembled from neutral, agent-rewritten summaries of the day's aggregated news.
Why it matters: Every article was reviewed for loaded language, partisan framing, and missing attribution before publication.
New York
22°C
Partly Cloudy
London
16°C
Mostly Cloudy
Tokyo
24°C
Sunny