As the largest casino operators shake their heads… BlackRock confirmed its spot Bitcoin ETFs have become the firm’s largest revenue generator, as assets approach $100 billion.
Faceplant… Meta will cut up to 30% of its metaverse budget in 2026, with layoffs expected in January, after their Reality Labs lost over $70 billion since 2021. Resources will shift toward AI and wearable technologies.
Is the whole country DOGEing??? US employers announced 1.17 million job cuts through November, a 54% increase from last year and the highest since 2020 pandemic levels, citing restructuring, cost-cutting, economic weakness, and AI adoption.
Game on!!! Citadel Securities recently complained to the SEC that Decentralized Finance (DeFi) platforms trading tokenized US equities should be regulated as traditional “exchanges” or “broker-dealers,” arguing they perform the same market functions – igniting strong backlash from crypto advocates.
“Losing everything is the price we pay for living a life worth living”… Sonder, a tech-driven hospitality company valued at $2.2 billion in 2022 offering apartment-style hotel stays, filed Chapter 7 bankruptcy after Marriott ended its partnership as fragile tech and a bloated cost structure collapsed under scale.
“The horror, the horror”… Apollo’s deputy CIO John Zito warned that the AI boom could trigger “the most violent cycle we’ve ever had,” citing extreme uncertainty (“fat tails”) and the dangers of leverage built on untested assumptions, on why Apollo is staying cautious in the AI space.
We need a plunger down here ASAP!!! United Site Services, a portable toilet and temporary sanitation company owned by Platinum Equity, is reportedly headed for bankruptcy after its $1.4 billion continuation vehicle collapsed under roughly 18× EBITDA leverage as rising rates and slowing construction crippled cash flow.
“On the borderline of the edge, and where I walk alone”… SEC Commissioner Paul Atkins predicted the entire US financial system could run on blockchain within two years, saying tokenization would vastly improve transparency and let regulators monitor systemic risks in real time.
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