The PIF SpaceX stake is the largest Gulf position in Elon Musk’s rocket company that anyone can actually verify: Saudi Arabia’s Public Investment Fund reported 154,146,835 SpaceX Class A shares, valued at $26.34 billion, in its Form 13F for 30 June 2026. The popular version of this story says “a UAE fund” put billions into
Sam Bankman-Fried has asked the U.S. Supreme Court to throw out his fraud conviction and cancel the $11 billion a court ordered him to forfeit, the last stage of his direct appeal. The former crypto billionaire filed the petition on Thursday, seeking a new trial and asking the justices to drop the forfeiture tied to
The popular WDC stock prediction this month starts from the wrong premise: that Western Digital “crashed on record earnings” because the AI storage trade is finished. The tape says otherwise. On 6 August, the day after WD beat its own guidance, the stock fell 13.0% to $451.52 while Seagate, which supplies nearline hard drives to
Nasdaq is deepening its bet on tokenized stocks with a $100 million investment in Payward, the parent company of crypto exchange Kraken, the exchange operator announced on September 10. The capital comes through Nasdaq Ventures, its strategic investment arm, and arrives with two further commitments. Alongside the funding, the companies will continue their work on
U.S. Bank has completed a live pilot transaction using USBDC, its proprietary U.S. dollar-backed stablecoin, moving a cross-border payment between its entities in North America and Europe. The transaction ran on the Stellar blockchain, and the bank says USBDC ranks among the first bank-issued stablecoins deployed on a public network, signaling that the Minneapolis lender
Visa’s stablecoin settlement volume has crossed a $20 billion annualized run rate, up more than 15 times from a year earlier, a jump that shows stablecoin-linked cards are becoming a real part of how money moves through the network. Visa shared the figure in a report published September 8, alongside two other numbers that point
Securitize and Socios.com have agreed to develop regulated tokenized equity offerings representing minority interests in professional sports teams. The announcement describes a framework for future offerings, not a completed issuance: no team, valuation, token price, launch date or investor terms have been disclosed. The proposed products would use the Socios Equity Token name and remain
The August jobs report released today by the Bureau of Labor Statistics showed the US economy adding jobs at its fastest pace in five months, a result that reversed the July report almost point for point. Nonfarm payrolls rose by 162,000, roughly triple the 56,000 economists had forecast, while the unemployment rate held steady at
The 2026 technology (tech) layoff wave has produced a run of large, alarming headline figures: Intel is down 39,700, Amazon’s ~30,000 corporate cuts, Oracle’s ~21,000, Verizon’s 16,600, and Meta’s 8,000, and the natural instinct is to stack them into one grand total. That total would be both enormous and misleading, because the numbers count different
A federal court has entered a consent order against John Patrick Gorman III, requiring the swaps trader to pay $90,000 for false or misleading statements made during a Commodity Futures Trading Commission investigation. The order resolves a case filed in February 2021. Gorman is permanently enjoined from violating the Commodity Exchange Act provision governing false