Will CoreWeave Impact Galaxy?

Broadcom, Verizon and UnitedHealth are among nine newly disclosed companies objecting to trading on OKXICE’s planned tokenized trading venue. Nasdaq separately says it would opt out for its own shares, with a spokesperson citing concerns about real-time price displays and consolidated-tape reporting. The pushback comes as OKXICE prepares a round-the-clock market under the SEC’s five-year Innovation Exemption. Read more →

CoreWeave’s debt-fueled AI expansion is facing a financing reality check – a bond selloff pushed yields to roughly 15% last week as investors grew nervous about its massive spending and borrowing needs. CoreWeave and Galaxy (GLXY) shares have both fallen more than 25% over the past month, and the two businesses have a direct connection. CoreWeave is the tenant behind Galaxy’s major long-term leases at its Helios data-center campus. Galaxy already secured $3.5 billion for its next construction phase, but financial strain at its tenant could put future rental income at risk and make further expansion harder to finance. We haven’t found reports of missed rent or a Helios disruption, but Galaxy’s AI growth story depends partly on CoreWeave’s ability to keep paying.

JJPMorgan is expanding JPM Coin to Ethereum, giving institutional clients another way to send dollars held at the bank around the clock without waiting for traditional banking hours. Each token represents a bank deposit, and only approved clients can use it. Previously available on Coinbase’s Base network, JPM Coin is now expanding directly to Ethereum. That puts JPMorgan’s digital dollars alongside a growing market of tokenized funds and other assets clients may want to buy or settle. Read more →

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