News linked to this event type.
well-known trader Bonk Guy posted that the crypto market may be nearing a turning point. In a worst-case scenario, it could still experience several more weeks of decline or consolidation before potentially entering a sustained rally. He believes that if investors are highly bullish on a token's performance in Q4, the current risk-reward ratio favors actively buying the dip; if a token is expected to break a $1 billion market cap, then the difference between buying at a $20 million or $25 million valuation may not matter much.Bonk Guy also stated that the biggest risk right now is missing the next rally due to the bearish sentiment on Crypto Twitter (CT). He advised against paying too much attention to 1-minute candles and suggested buying the dip and reducing short-term trading.
F2 AI, a company focused on developing artificial intelligence for the credit sector, has disclosed a $5 million investment from private credit manager Golub Capital. As part of the equity investment, Golub Capital will gain access to F2 AI's AI agent suite to screen private credit investments, conduct due diligence, underwrite transactions, and monitor its portfolio using its own data. The two parties did not disclose the F2 AI valuation corresponding to this investment. (Bloomberg)
Odaily News: XRP treasury company Evernorth plans to list on Nasdaq under the ticker XRPN. Armada Acquisition Corp. II shareholders will vote on the business combination between the two parties on September 30. If approved, it will clear the last major hurdle for Evernorth's public trading. Evernorth intends to actively deploy XRP for yield strategies, infrastructure participation, and capital markets activities. Currently, the company holds approximately 473 million XRP, making it one of the largest identifiable corporate holders. In addition, Evernorth has agreed to refinance $30 million through 4% convertible preferred PIK notes, but the funds can only be accessed upon approval of the business combination.
Odaily News: Hut 8 announced the completion of a $1.07 billion four-year senior secured revolving credit facility, with JPMorgan serving as Lead Arranger, Bookrunner, and Administrative Agent, Citi, Goldman Sachs, and Morgan Stanley serving as Joint Lead Arrangers and Joint Bookrunners, and a syndicate comprising 12 lending institutions in total. Hut 8 is primarily engaged in energy infrastructure and digital asset mining businesses.
According to TheEnergyMag, Bitcoin mining company Hut 8 has announced that it has secured a $1.07 billion senior secured revolving credit facility with a four-year term, with funds to be used to support the company's liquidity needs and energy and digital infrastructure projects.
According to Chaohang Research, JPMorgan’s September 24, 2026 research report indicates that U.S. corporate financing surplus in Q2 2026 approached 2% of GDP, marking the highest level for non-crisis periods since data tracking began in 1952. Non-financial corporate surplus stood at approximately 1.5%, the highest for non-crisis periods since 1958. Global equity buybacks are projected to reach $1.7 trillion in 2026, with U.S. corporations accounting for $1.3 trillion. Bitcoin’s production cost is approximately $85,000; after trading below this threshold for 280 consecutive days, the price has finally broken through. Network hash rate and mining difficulty have decreased by roughly 19% and 15%, respectively, from their peaks last October. JPMorgan notes that cash flow growth outpaces capital expenditures, indicating that the corporate sector as a whole does not require additional financing. This financing surplus underpins share repurchases, particularly among firms outside the technology sector. AI-driven capital expenditures are crowding out other spending, keeping overall capex growth moderate, and the exuberance of the late 1990s has yet to return. Bitcoin miners are structurally shifting toward AI operations, lowering forced selling risks, though hash rate expansion has decelerated. Bond futures momentum indicators have moved into more extreme bearish zones, with standard deviation scores for the 10-year U.S. Treasury and German Bunds reverting to -1.7 and -1.5, respectively.
According to CoinDesk, Hong Kong-based stablecoin payment company RedotPay announced on Monday that it has completed its financial audit and anti-money laundering and counter-terrorist financing compliance review, both conducted by Big Four accounting firms, as a necessary preparatory step for applying to launch an initial public offering (IPO) in the United States.
Odaily News: Stablecoin payment company RedotPay has completed a financial audit as part of its preparations for an initial public offering (IPO). A U.S. listing requires the submission of audited financial statements.A RedotPay spokesperson stated that the company's IPO plans have not been delayed, and that previous claims suggesting legal and regulatory issues could push the listing to 2027 or later are inconsistent with this. A person familiar with the matter said the company is targeting a valuation of over $5 billion. (CoinDesk)
According to Chaoxiang Research, a Goldman Sachs research report dated September 24, 2026, states that major U.S. hyperscalers will allocate capital expenditures of $800 billion in 2026, $1.2 trillion in 2027, and $1.4 trillion in 2028. The growth rate is projected to decelerate from nearly 100% in 2026 to 54% in 2027 and 12% in 2028. Goldman Sachs estimates that hyperscalers will need to generate approximately $300 billion in annual AI revenue over the next few years to achieve break-even, meaning AI users must spend around $1 trillion annually on AI applications. Valuations in the semiconductor sector remain conservative, with memory stocks trading at a two-year forward P/E of 4 times against a historical average of 8 times; fabless chip stocks at 13 times, compared to a historical average of 18 times.
Odaily News — Recently, Baola, a social Meme trading platform strategically invested by Gate Ventures, has entered the product beta testing phase. Positioned as a social trading platform for the Meme market, Baola explores the integration of social content and Meme trading across areas including trend discovery, market information tracking, community interaction, and trading participation.According to official introduction, Baola's brand proposition is "Your next Meme is on Baola," aggregating information such as trending calls, KOL activity, on-chain trading data, and community interactions. Users can view callers, token mention counts, market cap at the time of calling, and subsequent peak performance, and discover active market participants through features like KOL rankings and Callout leaderboards, gaining multi-dimensional insights into market trends and participant performance.In terms of community interaction, Baola supports users in independently publishing calls and market opinions, and continuously following callers of interest through the Follow feature. The platform also combines KOL public calls with on-chain trading activity, providing information on historical calls, recent performance, and buy/sell behavior, further connecting opinion sharing, trend discovery, and trading participation.Currently, Baola has entered the product beta testing phase and continues to refine the social trading experience in the Meme space. Users can visit the official website (https://bao.la/) for more details.
Michael Saylor stated that as AI changes how businesses are built, digital tokens can help 10 million new companies raise capital and reduce fundraising costs and delays. He advocates simplifying issuance rules while preserving disclosure and anti-fraud protections.Michael Saylor is the Executive Chairman of Bitcoin treasury company Strategy Inc. He proposed that companies could issue tokens with rules tailored to the type of issuance, and set disclosure requirements matched to risk, thereby reducing legal costs while preserving ownership protections and fraud accountability.The U.S. Securities and Exchange Commission (SEC) has separately proposed cryptocurrency issuance exemptions, one of which would allow eligible issuers to raise up to $5 million within four years, and another that would allow up to $75 million every 12 months; both remain proposals and come with disclosure and anti-fraud requirements. (Bitcoin.com News)
Odaily News: Blockworks analyst Shaunda Devens posted on X that Polymarket's current FDV valuation of approximately $1.5 billion for Variational is somewhat overly optimistic. This pricing directly applies Hyperliquid and Lighter-level valuation-to-revenue multiples to a platform that still relies on points subsidies. By comparison, the median first-day "FDV / annualized revenue" ratio for recently launched Perp DEX tokens is only 6.3x (Variational is currently around 57x), and within the first month after TGE, trading volume typically drops sharply by a median of 54%.Shaunda added that if conservative assumptions based on historical precedents are adopted (using the median first-day "FDV/annualized revenue" ratio of 6.3x), Variational's fair valuation would be only $167 million, corresponding to a points price of $4.8–$5.4. Even using the highest recent ratio precedent (Lighter's approximately 21.1x), its valuation would still only be about $558 million, corresponding to a points price of $16–$18.However, Shaunda also explained: "To be clear, given that current market risk appetite is clearly in a Risk-on state, we do not believe Variational's valuation at TGE will fall to the extremely conservative range mentioned above. These historical multiples are listed to illustrate that current pre-market OTC pricing may be overly optimistic."
Odaily reports: Aave founder and CEO Stani posted on X platform that his way of measuring Aave's potential market size is "addressable collateral" — the broader the range of assets that can serve as collateral, the greater the lending market space becomes.Stani stated that Aave initially started with crypto assets, then expanded into securities through Coinbase Tokenized Stocks and Horizon RWA, and in the future will also cover assets such as solar energy, batteries, GPUs, robots, and space infrastructure. He expressed his belief that this transformation will continue through 2050, and that Aave's goal is to accelerate this process by approximately 10 years by providing financing for the assets that will drive the "Age of Abundance."
Odaily Report: Michael Saylor published a long article titled "Prescriptions for Prosperity in the Digital Economy," stating that artificial intelligence will greatly enhance the productive capacity of individuals and enterprises, thus requiring greater freedom to create, finance, own, and trade assets. He proposed establishing a "Digital Bill of Rights" for digital assets, the core of which is to grant individuals and enterprises the rights to Create, Issue, Custody, Transfer, and Use digital assets, and to provide foundational protections in financial privacy, asset ownership, and market access.Saylor believes that digital intelligence will drive the birth of a large number of new enterprises, and that the cost, complexity, and time required for financing should be reduced, while capital formation efficiency should be improved through means such as digital tokens. He proposed aiming to enable 10 million new businesses to access financing, while establishing clear issuance rules and risk-matched information disclosure requirements.Regarding the digital dollar, Saylor advocates allowing banks, fintech companies, and technology platforms to compete more fully in digital dollar products, and permitting issuers to compete on yield. He believes that the United States can further expand the global reach of the dollar by allowing enterprises to develop more competitive digital dollar products.As for Bitcoin, Saylor defines it as "Digital Capital," advocating that banks be allowed to custody Bitcoin under clear rules and provide credit using it as collateral, while establishing a viable path for insurance companies to include digital capital in their balance sheets and product design. He specifically mentioned that the Basel Accord applies a 1250% risk weight to certain crypto asset exposures, and believes that regulators should reassess relevant capital requirements based on the actual risks of digital assets and specific business activities.
Odaily reports: Prediction market and derivatives platform OG.com Markets has submitted a rule filing to the U.S. Commodity Futures Trading Commission (CFTC) seeking to launch cash-settled perpetual futures on individual stocks with no expiration date, tradable 5 days a week, 24 hours a day.OG.com recently spun off from cryptocurrency exchange Crypto.com to become an independent platform valued at $5 billion. Coinbase, Payward's Bitnomial exchange, and Kalshi have also applied to offer U.S. single-stock perpetual futures. (Cointelegraph)
According to Decrypt, Morgan Stanley has become a strategic partner of New York Prediction Market Summit NEXTPredict and will host discussions on institutional capital entering prediction markets at the event scheduled for October 22–23. Pierre Lindh, co-founder of NEXTPredict, noted that this marks the first time a bank has publicly engaged in events within this sector. The session will be moderated by Stephen Grambling, Head of US Gaming, Hotels & Leisure Research at Morgan Stanley, focusing on the opportunities for institutional funds to enter prediction markets, along with market structure and risk considerations. Currently, around 90% of liquidity and trading volume in prediction markets remains concentrated in sports contracts, though some financial institutions are beginning to explore its potential applications in market forecasting, internal forecasting, and corporate risk hedging. Morgan Stanley previously also took part in Kalshi’s $1 billion Series F funding round completed in May this year.
Odaily News: Jumper has announced plans to conduct its first JUMP token sale through Legion and spin off from LI.FI to become an independent company. Jumper currently has cumulative trading volume exceeding $40 billion, over 100,000 monthly active users, and a market share of more than 15% in cross-chain bridge transaction volume.Jumper stated that in the future it will expand from cross-chain aggregation to an on-chain finance super app, covering spot trading, cross-chain, perpetual contracts, tokenized stocks, and other RWA and yield products. Its perpetual contract product, Jumper Perps, is expected to launch in the coming weeks. This Legion token sale will be Jumper's first fundraising, with proceeds to be used for product development, user acquisition, and market expansion; the JUMP token is planned to be issued separately after the fundraising is completed, and the company will not conduct equity financing at the same time. (Cointelegraph)
Nscale announced it has raised $3.36 billion through convertible loan notes. The round was led by Third Point, with $2.36 billion already funded at closing. Nvidia has committed an additional $1 billion, with the funds expected to be in place by mid-November. Nscale said its total contracted value has now exceeded $103 billion.
Goldman Sachs estimates AI infrastructure spending by Amazon, Google parent company Alphabet, Microsoft, Oracle, and Meta will reach $800 billion this year. Goldman Sachs notes that hyperscale cloud providers need approximately $300 billion in annual AI revenue to break even. However, rising financing demands and infrastructure constraints may weigh on the pace of future spending growth.
据彭博社报道，特朗普长子小唐纳德·特朗普担任合伙人的投资公司 1789 Capital 正为第二支成长基金寻求募资 30 亿美元，目前已从现有投资者处获得约 20 亿美元资金，最终募资规模仍可能进一步扩大。 1789 Capital 目前管理资产已超过 40 亿美元，投资组合包括 Polymarket、Anduril，以及 X、xAI、SpaceX 等公司。公司计划进一步集中投资组合，减少投资项目数量，同时提高单笔投资规模并更多主导融资轮。其第一支成长基金于 2023 年推出，截至今年 6 月底回报率超过 200%。 此外，1789 Capital 此前还计划参与 Polymarket 新一轮约 10 亿美元融资，拟投入约 3 亿美元。