Tag: Stock

Korean stock market plunges 12% in historic one-day crash

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South Korea’s KOSPI plunged 12% on Wednesday in its largest single-day drop on record, wiping out roughly $625 billion in market value as geopolitical tensions and margin calls triggered a broad market selloff. The benchmark index, which tracks major companies listed on the Korea Exchange, closed near 5,093.54 points after trading was halted for 20 minutes when circuit breakers were triggered at the 8% decline threshold. Major technology companies led the losses. Samsung Electronics fell 11.7%, while memory chipmaker SK Hynix dropped 9.6% during the session. The sharp decline capped…

MEXC Expands Tokenized Stock Listings Through Ondo Finance Partnership

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Crypto exchange MEXC has expanded its tokenized equities offering through its partnership with Ondo Finance, listing new onchain representations of US stocks that trade against Tether on its platform. According to company announcements this week, the expansion includes 17 newly listed tokenized stock pairs and seven additional tokens tied to US defense and energy companies. The tokens are issued as ERC-20 assets on Ethereum and trade against Tether (USDT) pairs on the exchange. The underlying shares are held in regulated trust accounts and subject to quarterly third-party audits, with the…

ARK Invest loads up Robinhood stock ahead of its “Take Flight” event

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ARK Invest, Cathie Wood’s investment firm focused on disruptive technology sectors, acquired 158,587 shares of Robinhood (HOOD) on Tuesday ahead of the brokerage’s “Take Flight” event scheduled to take place tomorrow at 7:30 PM ET. Apart from HOOD, ARK Invest also accumulated shares of Coinbase, CoreWeave, Tesla, and Alibaba. Take Flight is Robinhood’s flagship event, concentrated on the company’s next phase of growth and product expansion. It will be held live at the TWA Hotel at JFK Airport and feature keynotes from Robinhood CEO Vlad Tenev as well as other…

Adobe stock gains on rumors ‘Big Short’ Michael Burry goes long

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Adobe shares rose 3% in intraday trading on Tuesday following unconfirmed reports that Michael Burry, the investor who famously predicted the 2008 housing collapse, had taken long positions in the software company. The stock climbed as high as $270 after the opening bell before retreating to around $268. per Yahoo Finance. Year-to-date, shares of the San Jose-based firm have fallen roughly 23%. The reported move would mark a departure from Burry’s recent bearish stance on artificial intelligence equities. By late 2025, put options against Nvidia and Palantir accounted for nearly…

Revenue Beats, Earnings Per Share Miss, Stock Falls

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Shares of Figure Technology Solutions, a blockchain-based consumer lending marketplace, plunged on Friday after the company reported mixed fourth-quarter results the prior day, signaling a more difficult operating environment even as revenue continued to climb. For the quarter ended Dec. 31, the company posted revenue of $159.9 million, up from $83.9 million a year earlier, and net income of $15.1 million, compared with $5.9 million in the same period of 2024. Earnings were $0.06 per diluted share, compared to zero a year earlier. Analysts polled by Yahoo Finance expected earnings…

Jack Dorsey says Block to cut over 40% of workforce as stock surges 25% after earnings

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Jack Dorsey said Block will cut nearly half of its workforce, reducing headcount from more than 10,000 employees to just under 6,000, a move affecting over 4,000 workers. The announcement was shared in a note posted by the Block CEO on X and released alongside the company’s latest earnings report. Block said it is not making the cuts due to financial distress, pointing to improving profitability and continued gross profit growth. Dorsey wrote that advances in intelligence tools and flatter teams are fundamentally changing how the company operates, prompting a…

Nasdaq-listed GD Culture authorized to sell part of 7,500 Bitcoin reserve for stock buyback

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GD Culture Group Limited, a Nasdaq-listed firm specializing in AI-driven digital human technology and livestreaming e-commerce, said Wednesday its board approved the potential sale or disposal of part of its 7,500 Bitcoin holdings to fund share repurchases. The disposition would support a $100 million buyback initiative disclosed on February 18. Proceeds will cover stock repurchases as well as related costs, including brokerage fees and taxes. GD Culture’s Bitcoin stash comes from a share exchange acquisition in December 2025 when the company inked a deal to acquire Pallas Capital’s assets, including…

Crypto giant Circle posts upbeat Q4 results, stock rises 21%

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Shares of Circle Internet Group (CRCL) soared 21% in premarket trading on Wednesday after the firm reported strong financial results in Q4 2025. Driven by rapid USDC adoption, Circle’s fourth-quarter revenue jumped 77% to $770 million, pushing full-year fiscal 2025 revenue to $2.7 billion. The New York-based company achieved $133 million in quarterly net income, while adjusted EBITDA skyrocketed 412% to $167 million. These financial gains mirror the scaling of the USDC ecosystem, which saw circulation climb 72% to over $75 billion and quarterly onchain transaction volume explode by 247%…

South Korea to Require Crypto, Stock Influencers to Disclose Holdings

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South Korea is reportedly preparing new rules that would force social-media personalities promoting cryptocurrencies and stocks to reveal what they own and whether they are being paid. Democratic Party lawmaker Kim Seung-won, a member of the National Assembly’s Political Affairs Committee, is drafting amendments to the Capital Market and Financial Investment Business Act and the Act on the Protection of Virtual Asset Users, according to a report from Korean-language business news website Herald Business. Under the proposal, individuals who repeatedly offer advice or receive compensation to encourage the public to…

Bitcoin Taps $66k as Stock Divergence Hints at a BTC Price Rally

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Bitcoin (BTC) rallied toward $66,000 after Tuesday’s gains in the US stock market, as cryptocurrencies sought to halt their 2026 slump.   Key takeaways: Bitcoin rallied above $66,000 on Wednesday, recovering alongside US stocks. Bitcoin Coinbase Premium Index flipped positive amid $258 million in ETF inflows. While BTC’s correlation with stocks and gold is at its weakest since 2022, it historically signalled significant upside upon reversion. BTC/USD hourly chart. Source: Cointelegraph/TradingView BTC price recovers in tandem with US equities Bitcoin’s recovery today aligns closely with similar rebounds in the US…