SECZ Plunges 20% On Q1 Earnings

In Securitize (SECZ) first quarterly earnings report since going public through a SPAC in July, the company’s shares plunged more than 20% after the tokenization firm fell short of Wall Street’s Q2 expectations. The company, best known for managing BlackRock’s BUIDL tokenized money-market fund, reported revenue of $14.4 million, down 5% from a year earlier and missing analyst estimates of $20.6 million. Read more →

Earlier this year, crypto-exchange and owner of Coindesk, Bullish (BLSH) agreed to buy Equiniti for $4.2 billion. The only problem? They agreed to do it with stock priced near $38.48 a share. With BLSH recently trading at $24.52, Equiniti is actually taking a much lower paper value. But the fixed-stock structure still lands on Bullish holders: Sandmark’s read of the deal docs points to roughly 38% dilution and governance terms worth a closer look. Read more →

26% of Gen Z investors (born between 1997 and 2007) say they see gambling on sports as part of their long-term financial strategy, according to a survey from Betterment. That’s compared with about 14% of millennials (born 1981-1996), 6% of Gen X (1965-1980) and 1% of baby boomers (pre-1965). Furthermore, 52% Gen Z investors said they had redirected money originally earmarked for investing into sports betting over the past year, with 14% saying they do so multiple times a month. Scary times. Read the entire report here →

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