SOL Global is transitioning its investment focus to blockchain technology, primarily Solana tokens, while divesting from electric vehicle and real estate assets. The company expects to finalize agreements by February 25, 2025, and complete the transaction by February 28, 2025, retaining 5-10% ownership in the new Asset Vehicle, which will alleviate existing liabilities from its balance sheet. SOL Global also retains the option to repurchase transferred assets at their original value.
The cryptocurrency market is poised for a significant bull run, with tokens like Rexas Finance (RXS), Ripple (XRP), SEI, Cardano (ADA), and Fantom (FTM) expected to outperform. Rexas Finance is revolutionizing asset tokenization, while Cardano and Fantom are gaining traction for their robust blockchain technologies. With a growing ecosystem and innovative features, these assets present promising investment opportunities.
SOL Global Investments Corp. is transitioning to focus exclusively on blockchain technology, particularly the Solana ecosystem, aiming to finalize definitive agreements by February 25, 2025, and complete a significant transaction by February 28, 2025. The company anticipates substantial growth opportunities in decentralized finance and digital assets, while acknowledging the inherent risks and uncertainties in the cryptocurrency market. As a publicly traded entity, SOL Global seeks to leverage its investments in Solana to generate passive yields and explore strategic opportunities within the blockchain space.
The SEC has approved the first spot Bitcoin and Ethereum combo ETFs from Hashdex and Franklin Templeton, set to launch in January with an 80/20 allocation favoring Bitcoin. This marks a significant step in the U.S. crypto ETF market, which has seen substantial inflows, particularly in Bitcoin ETFs. Speculation continues around potential future approvals for Solana and XRP ETFs, though analysts suggest Litecoin and Hedera may come first due to regulatory clarity.
A parliamentary committee has concluded that Credit Suisse is solely responsible for its collapse in March 2023, citing mismanagement and significant financial losses despite high performance bonuses for management. The investigation found no misconduct by authorities, although it criticized the Financial Market Authority for ineffective supervision and inadequate communication. The crisis, exacerbated by prior bank failures, led to Credit Suisse's emergency takeover by UBS with government support.
The PUK report reveals that high-ranking managers at Credit Suisse disregarded the damage their actions caused, aided by weak institutional oversight. This failure, highlighted by the decision to reduce the bank's capital cushion in 2017, set the stage for its eventual collapse. In light of the crisis, calls for stronger capital requirements for UBS are met with resistance, emphasizing the need for enhanced regulatory powers to prevent future financial disasters.
Chainlink has partnered with the Shiba Inu ecosystem to integrate its Cross-Chain Interoperability Protocol (CCIP) into Shibarium, enhancing multi-chain capabilities for SHIB, BONE, and LEASH across 12 blockchains. This collaboration aims to facilitate seamless token transfers and unlock new opportunities for decentralized finance, marking a significant milestone for Shiba Inu's growth and adoption.
Bybit is launching a campaign for first-time depositors, offering rewards ranging from 5 USDT to 0.1 BTC through its One-Click Buy feature. Participants who deposit at least $100 will receive a lucky draw ticket with a guaranteed win, available until January 16, 2025. The initiative aims to simplify crypto trading and enhance accessibility for new users.
UBS has resumed coverage of Pagaya Technologies (NASDAQ: PGY) with a Neutral rating and a price target of $11.00, citing potential revenue growth amid a volatile stock performance. The company reported a 23.4% revenue increase over the past year, reaching $970.9 million, and aims for GAAP profitability by 2025. However, UBS remains cautious due to uncertainties regarding credit impairments, particularly from riskier asset-backed securities, and is seeking clarity on these issues before making further recommendations.
UBS has resumed coverage on Pagaya Technologies with a Neutral rating and a price target of $11.00, citing potential revenue growth but expressing caution over credit impairments. The company reported a 23.4% revenue increase in the past year, reaching $970.9 million, and aims for GAAP profitability by 2025. Despite a strong market position and strategic partnerships, UBS seeks clarity on credit losses before making further recommendations.
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