Inside The Trade That Made Mike Novogratz An AI Kingpin
This week, Benchmark reiterated a Buy rating on Galaxy Digital (GLXY) with a $57 price target (80% upside), arguing that the firm’s Helios data center campus gives the company a layer of upside that is not yet reflected in its share price.
We’ve covered Galaxy Digital a ton over the years, including their recent Helios data center expansion, but for a deep dive into the details, Forbes just published an expansive writeup of the project – and what the future may hold. Read more →
Tether’s Gold Hoarding
Tether is slowly becoming one of the biggest gold central banks in the world. According to Bloomberg, Tether now holds ~140 tons of physical gold (worth ~$24 billion) in secure storage in Switzerland – the largest known bullion hoard outside of banks and nation states. CEO Paolo Ardoino told Bloomberg that Tether also has plans to actively trade its gold reserves (not just sit on them), arguing demand could grow as geopolitical rivals look for a gold-backed alternative to the dollar. Read more →
Fidelity to launch stablecoin in coming weeks
Fidelity Investments has said it will launch its first stablecoin, the Fidelity Digital Dollar (FIDD), on Ethereum in the coming weeks. The announcement comes as the stablecoin market has nearly crossed $300 billion in total supply after the GENIUS Act passed last year. Read more →
Crypto hackers target Hinge and Match Group in data leak Link»
Why This Titanium Explorer Caught Rio Tinto’s Eye Link»*
Ripple debuts treasury platform combining cash and digital asset management Link»
These Billion-Dollar AI Startups Have No Products, No Revenue and Eager Investors Link»
Steak ’n Shake Adds $5 Million in Bitcoin Exposure Link»
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