News linked to both this project and an event.
Odaily AI Financial (formerly Alt5 Sigma), a publicly listed crypto company linked to the family of U.S. President Donald Trump, has announced it will acquire crypto infrastructure startup Block Street for up to $43 million. Block Street was founded by Matthew Morgan, who currently serves as an advisor to AI Financial and is also its CEO and largest shareholder.According to a filing with the U.S. Securities and Exchange Commission (SEC), the deal was reached last Monday. Block Street was registered in October 2025, but Morgan stated that its business operations had started about 16 months prior.The acquisition has raised market concerns about potential conflicts of interest, as Morgan is both an advisor to AI Financial and the founder of the acquired company. He was briefly nominated for the position of Chief Investment Officer in a previous cooperation deal between AI Financial and World Liberty Financial, but the role was later adjusted to an unpaid advisor position.In August, AI Financial reached an agreement with World Liberty Financial to include approximately $1.5 billion in crypto assets on its balance sheet, in exchange for equity and a board seat. This collaboration also positioned the company as part of the "Trump family crypto ecosystem."In interviews, Morgan has denied that the transaction constitutes self-dealing, stating that Block Street focuses on tokenization and ICO infrastructure capabilities, areas AI Financial is looking to enter. He claimed to have pitched the asset to several other public companies and turned down acquisition offers with higher valuations.However, since establishing ties with the Trump family crypto project, AI Financial's stock price has fallen by over 90%, reflecting ongoing market skepticism toward the "crypto reserve public company" model.This transaction has also reignited controversy over insider transactions and governance structures within public companies. Similar cases have frequently emerged in the crypto industry recently, with multiple listed companies criticized for mixing assets with related-party transactions, raising investor concerns about the risks of conflicts of interest. (Fortune)
Caixin published an article titled "SpaceX's $1.75 Trillion IPO Approaches: Who Can Buy and Is It Worth It?", which points out: Wall Street has never encountered a listed company with such a massive IPO scale while simultaneously having such a complex relationship with the U.S. government. Nasdaq has previously passed a new "Fast Entry" rule, allowing newly listed companies with a market capitalization ranking among the top 40 of the Nasdaq 100 Index to be quickly included in the Nasdaq 100 within 15 trading days after listing. This rule will officially take effect on May 1, 2026, and is also considered to be designed for the upcoming SpaceX IPO, while potentially paving the way for the listings of OpenAI and Anthropic, which may occur in 2026 or 2027.Assuming SpaceX lists with a $1.75 trillion valuation and a free float ratio of 25% to 30%, the free float market cap on the first day of the IPO would be approximately between $440 billion and $530 billion. Based on the weight calculation of the Nasdaq 100, SpaceX would directly enter the top ten weighted stocks. According to market sources, the S&P 500 is also evaluating some form of "fast inclusion" plan, though details have not yet been disclosed. (Caixin)
According to The Wall Street Journal, Parallel Web Systems—an AI startup founded by former Twitter CEO Parag Agrawal—has raised $100 million in its Series B funding round, led by Sequoia Capital, with participation from Kleiner Perkins, Index Ventures, and Khosla Ventures. The company’s valuation has risen to $2 billion, bringing its total funding to $230 million. Parallel focuses on building web search infrastructure for AI agents, supporting in-depth research use cases such as investment research, insurance claims processing, and government contract analysis. Over 100,000 developers are already using its platform, with customers including legal AI company Harvey. Proceeds from this round will be used to expand the sales team and strengthen R&D efforts.
Odaily News SpaceX will hold a three-day closed-door analyst meeting in the United States this week to present its business and strategy to Wall Street institutions in preparation for a potential IPO. Informed sources stated that the company aims to raise approximately $75 billion, with a valuation potentially reaching $1.75 trillion, and plans to go public as early as June.The meeting will cover SpaceX's Starbase launch site in Texas and its data center project in Tennessee. Participating analysts are required to surrender electronic devices to ensure information confidentiality. This roadshow is a key part of the IPO process, and subsequent model explanation meetings will be held to further disclose financial and growth expectations.Furthermore, the company plans to reserve approximately 30% of its shares for retail investors and expand into global markets. Several Wall Street investment banks have already participated in underwriting arrangements. (Reuters)
According to an official announcement, cryptocurrency futures exchange KieDex has raised $3.5 million in funding, led by Marqel Capital. The company stated that the funds will be used to build the KieDex platform and develop a next-generation cryptocurrency futures exchange focused on fast, secure, and incentive-driven trading experiences. Supporting partners include Hidden Street Capital, Caviar, CSP DAO, Solulu Club, Rocket, TPC, Devmons, and TATATU.
According to Bloomberg, cryptocurrency hedge funds are extending their trading activities into traditional commodities and stock indices. Previously, these funds operated in the cryptocurrency markets—long overlooked by Wall Street—trading tokens on 24/7, clearinghouse-free, and unregulated platforms. Now, traditional assets such as crude oil, copper, and the Nasdaq-100 Index are increasingly appearing on these platforms, signaling that cryptocurrency trading infrastructure is penetrating mainstream financial assets.