Allbirds stock explodes after the struggling shoe brand announces a $50M GPU‑fueled pivot into “NewBird AI,” sells its name for $39M, and rides the AI mania wave.

Allbirds shares went vertical on Tuesday after the San Francisco‑based shoe maker said it would pivot into AI compute, rebrand as “NewBird AI” and raise $50 million in convertible financing to buy GPUs, sending the stock from $2.49 to an intraday high of $24.31 before closing at $13.59, up roughly 446% on the day. The move comes just weeks after Allbirds agreed to sell its brand and footwear assets to American Exchange Group for about $39 million, a dramatic turn for a company that once commanded a $4 billion valuation at its 2021 IPO.

According to a press release summarized by outlets like Investing.com, Allbirds has signed a definitive agreement with an unnamed institutional investor for a $50 million convertible financing facility, with proceeds earmarked for “high‑performance GPU assets” and a transition to GPU‑as‑a‑Service and AI‑native cloud solutions under the NewBird AI banner. The facility is expected to close in the second quarter of 2026, subject to shareholder approval at a special meeting scheduled for May 18, 2026, for stockholders of record as of April 13.

Allbirds said it plans to use the initial capital to acquire and deploy dedicated AI compute capacity and to lease that infrastructure to customers who need long‑term access to GPUs, citing “increasing GPU procurement lead times” and “historic low North American data center vacancy rates” as tailwinds for demand. The company also flagged a special dividend for shareholders of record on May 20, 2026, funded from net proceeds of the $39 million asset sale once it closes and after costs, likely in the third quarter.investing+4

On X, the pivot drew a mix of disbelief and fascination as the stock’s parabolic move was screenshotted across FinTwit. “Allbirds, the shoe brand, now says it’s an AI compute company,” Bloomberg reporter Tracy Alloway wrote, posting a chart of the intraday surge. Watcher.Guru told followers that Allbirds’ BIRD ticker had risen “over 420% after announcing shift from shoes to AI,” while The Kobeissi Letter described the move as a “pivoting from shoes to AI” that sent the stock more than 200% higher early in the session.

The asset sale to American Exchange Group, which owns brands such as Aerosoles, was negotiated by a special committee of independent directors and must still be approved by Allbirds’ shareholders, with closing expected in the second quarter of 2026. Filing details show Allbirds had a market capitalization of around $20 million to $26 million before the AI announcement, negative free cash flow of roughly $58 million over the last 12 months and revenue declines of about 22%, underscoring the financial strain behind the dramatic strategy shift.

Tether, the company behind the world’s largest stablecoin USDT USDT$1.0001, added another $70 million worth of bitcoin BTC$74,626.12 to its reserves, extending a steady accumulation strategy tied to its stablecoin business.

Blockchain data from Arkham Intelligence shows 951 BTC moved Wednesday from Bitfinex to a wallet labeled “Tether: BTC Reserve.” The address matches one previously confirmed by CEO Paolo Ardoino as the destination for the company’s earlier purchases.

The firm did not respond to a request for comment about the purchase.

The wallet now holds 97,141 BTC, worth about $7.16 billion at current prices, placing Tether among the largest bitcoin holders globally. If Tether was a public company, it would be the second largest BTC holder behind Strategy (MSTR), according to bitcointreasuries.net ranking.

The latest purchase is part of a policy introduced in 2023 to allocate up to 15% of realized operating profits into bitcoin. Unlike digital asset treasuries that raise capital to buy crypto, Tether uses excess earnings generated by its core business.

USDT, Tether’s dollar-pegged token, is the largest stablecoin with a market cap around $185 billion. The company reported more than $10 billion in net profit for 2025, driven by growth in USDT and rising income from U.S. Treasury holdings.

Tether’s reserves are primarily made up of cash-like assets, with up to $141 billion in exposure to U.S. government debt. It also reported $6.3 billion in excess reserves against $186.5 billion in liabilities, offering a buffer above issued tokens.

Alongside U.S. Treasuries, Tether has been building positions in alternative assets. Its latest report also showed $17.4 billion in gold, highlighting a broader diversification strategy.

The crypto’s industry emerging political action committee, Fellowship PAC, rushed out of the gate this month with $11 million in backing, and it’s so far booked $3 million in ad services through a company co-founded by Tether US CEO Bo Hines.

The super PAC is focusing its support on Republican politicians in races for Congress and a governorship, and it so far gathered $10 million from Cantor Fitzgerald and $1 million from crypto bank Anchorage Digital, according to Federal Election Commission filings released Wednesday. Its initial $3 million spent toward political advertising for its favored candidates has gone to Nxum Group, a company that was founded by Hines (who was President Donald Trump’s crypto adviser until he moved to Tether last year), his father and another partner.

While Fellowship has been reportedly associated with Tether from its inception last year and has a senior executive of Tether as its chairman, the bulk of its funding came from New York financial-services giant Cantor, which handles the reserves for Tether’s industry-leading stablecoin business. Cantor’s former chief, Howard Lutnick, now serves as Trump’s Commerce Secretary, and his children have taken over the business.

Neither Tether US nor Cantor immediately responded to a request for comment on their involvement with the super PAC. When Fellowship first went public, it announced it would wield $100 million (an amount that would rival the leading crypto PAC, Fairshake). Fellowship’s treasurer is an executive at Cantor.

So far, the PAC, which hasn’t responded to requests for comment, has devoted $300,000 to support Clay Fuller, the newest member of the U.S. House of Representatives who just took over Marjorie Taylor Green’s seat in a Georgia special election; $850,000 to back Nate Morris for a U.S. Senate seat in Kentucky; and $350,000 to support incumbent Nebraska Senator Pete Ricketts, according to filings with the Federal Election Commission.

The filings disclosed that Nxum has received $3 million in disbursements for advertising. Before now, Nxum didn’t yet have a significant track record in serving PACs or campaigns, with its primary claim to fame associated with $1 million in billboard ads it donated to MAGA Inc. in 2024, shortly after Hines took a high-profile job at the White House.

When its formation was announced last year, Fellowship said it had $100 million in pledged backing and would champion transparency as it supported pro-crypto candidates. That promised level hasn’t yet appeared,

Anchorage Digital — the first crypto-native bank to win a U.S. federal charter — called its contribution an investment in the U.S. crypto policy process.

“Anchorage Digital has made a corporate contribution to the Fellowship PAC as part of our broader, bipartisan approach to advancing regulatory clarity for digital assets in the United States,” the company said in a statement, also posting a message on its website.

Despite involvement from Tether executives in Fellowship’s work, it’s unclear whether Tether or its U.S. arm, Tether US, would be able to make direct contributions to the PAC. Non-U.S. entities aren’t allowed to get directly involved in U.S. campaign finances.

Read More: Super PAC tied to Tether makes first ad buy from firm founded by Tether’s U.S. CEO

Markets are navigating ongoing geopolitical uncertainty with volatility persisting, yet signals of cautious resilience are emerging. The release describes a blended picture where crypto momentum interacts with traditional markets amid potential diplomatic progress and ongoing supply considerations. Bitcoin has risen about 5% over the past week and trades near $75,000, on track for a third consecutive weekly gain. Oil has moved back below $100 as expectations for diplomatic developments support risk assets. The report also notes Iran’s exploration of Bitcoin for payments tied to maritime transit through the Strait of Hormuz and a possible second round of US-Iran talks ahead of a ceasefire deadline. Near-term volatility may persist.

Key points

• Bitcoin up about 5% over the past week, trading near $75,000 and on track for a third straight weekly gain.
• Oil prices retreat below $100 as diplomatic expectations influence risk assets and supply concerns persist in the Persian Gulf.
• Iran is exploring Bitcoin for payments related to maritime transit through the Strait of Hormuz.
• A potential second round of US-Iran peace talks could occur within days ahead of the ceasefire deadline, suggesting near-term volatility.

Why it matters

This combination matters because crypto momentum, energy markets, and geopolitical dynamics intersect in a volatile environment. A sustained Bitcoin rally can influence risk sentiment for digital assets, while oil movements interact with inflation and rate expectations. Iran’s reported use of Bitcoin for a real-world payment flow hints at broader crypto infrastructure uptake. The prospect of renewed talks adds a political factor that could ease or renew volatility, making near-term developments important for traders and investors.

What to watch

• Possible second round of US-Iran talks within days and any ceasefire timeline updates.
• Updates on Iran’s Bitcoin payments plans for Strait of Hormuz transit.
• Bitcoin price behavior around the $75,000 level and any breaks above or below key levels.

Disclosure: The content below is a press release provided by the company or its PR representative. It is published for informational purposes.

Bitcoin Rallies and Oil Pulls Back as Markets Show Signs of Stability

Abu Dhabi, UAE -15 April 2026: Global markets continue to navigate a period of heightened volatility, but recent trends suggest investors are becoming more resilient and adaptive in the face of ongoing geopolitical uncertainty.

Investor sentiment appears to be stabilising, with markets increasingly absorbing negative headlines more efficiently than in previous weeks. Developments that once triggered sharp selloffs are now being digested with greater composure, indicating a shift from reactive behaviour to more measured decision-making.

Cautious optimism is emerging as reports suggest a second round of US-Iran peace talks could take place within days, ahead of the upcoming ceasefire deadline. This prospect is supporting risk assets, as investors rotate away from defensive positioning and cautiously re-enter the market. However, uncertainty remains elevated, and in the absence of a concrete resolution, two-way volatility is expected to persist.

Bitcoin has continued to demonstrate resilience during the current conflict, rising approximately 5% over the past week and trading near $75,000. The asset is on track for its third consecutive week of gains and is up around 9% month-to-date, positioning it for its strongest monthly performance since May 2025. Despite this momentum, Bitcoin remains roughly 40% below its all-time high.

Adding to the constructive narrative around digital assets are reports that Iran is exploring the use of Bitcoin for payments related to maritime transit through the Strait of Hormuz. This development reinforces the growing perception that cryptocurrencies could become increasingly embedded in real-world economic infrastructure.

Meanwhile, oil prices have retreated below the $100 mark, reflecting easing tensions and expectations of diplomatic progress. However, a meaningful portion of supply from the Persian Gulf remains offline, which could place upward pressure on prices in the near term. Persistent supply constraints would have broader implications for inflation, interest rate expectations, and overall market stability.

Commenting on the current market environment, Josh Gilbert, Market Analyst at eToro, said:
“Investors are showing a notable shift in behaviour. Rather than reacting impulsively to geopolitical headlines, we’re seeing a more resilient approach to navigating uncertainty. While there are tentative signs of improvement, markets remain highly sensitive to developments, and volatility is likely to remain a defining feature in the near term.”

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Goldman Sachs has filed to launch a Bitcoin-linked ETF focused on income generation. The proposed fund uses options strategies instead of holding Bitcoin directly. Bitcoin currently trades near $74,591 after a recent market pullback. The firm aims to offer indirect exposure through existing Bitcoin exchange-traded products. It plans to allocate at least 80% of assets to Bitcoin-linked instruments. This structure separates the fund from traditional spot Bitcoin ETFs.

The move comes as institutions expand crypto offerings despite volatile conditions. Goldman manages over $3.65 trillion in assets globally. The filing signals continued institutional interest in structured crypto products.

Bitcoin Exposure Built Through Layered ETF Holdings

Goldman’s ETF will invest in spot Bitcoin ETFs and related derivatives. This approach allows exposure without directly holding the cryptocurrency. The structure also reflects regulatory considerations tied to commodity ownership.

Unlike direct Bitcoin ETFs, the fund sits one layer above underlying assets. Its returns will mirror gains and losses from those holdings. However, the additional layer may create slight tracking differences.

The firm also uses a Cayman Islands subsidiary to support the structure. This setup helps address regulatory limits in U.S. markets. As a result, the product may reach approval ahead of similar filings.

Options Strategy Targets Income but Caps Upside

The ETF will generate income by selling call options on Bitcoin-linked products. This method allows the fund to collect premiums from option buyers. The strategy converts volatility into a steady income stream.

Goldman expects the overwrite level to range between 40% and 100%. This means a large portion of exposure could be covered by options. However, this coverage limits gains during strong Bitcoin rallies.

If prices exceed option strike levels, the fund faces capped returns. Losses on short positions may offset gains from underlying holdings. Therefore, performance may lag during sharp upward movements.

Competitive Landscape Expands with New ETF Models

The filing adds competition to an evolving Bitcoin ETF market. Firms like BlackRock and Morgan Stanley continue to expand offerings. Their products often focus on direct exposure rather than income strategies.

BlackRock’s spot Bitcoin ETF has attracted significant inflows since launch. Meanwhile, Morgan Stanley recently introduced its own spot-based product. These developments show growing diversification in crypto investment vehicles.

Goldman’s approach differs by prioritizing income over pure price tracking. The strategy may appeal to those seeking yield from volatile assets. However, it also introduces trade-offs between stability and growth.

Mythos Causes Security Concerns

The debate comes after growing interest in the latest AI model Mythos, developed by Anthropic, which has raised alarms in the financial and regulatory sectors. The possibility of the model taking advantage of system vulnerabilities has been noted by government agencies and other large institutions. Regulators have compelled banks to be ready to face more sophisticated cyber threats associated with advanced AI features. Anthropic executives have been talking to policymakers about the risks associated with Mythos. At a recent economic gathering, the company affirmed that it has briefed the Trump administration on the model’s capabilities. The firm also conducted studies indicating that the system could identify and exploit zero-day vulnerabilities in key software platforms when instructed by users.

In the meantime, major crypto exchanges have begun seeking access to the Mythos model to build their defenses. Reports indicate that companies like Coinbase and Binance are already working with Anthropic. Coinbase’s security team noted that discussions continue, and that advanced AI will impact cyber threats and security mechanisms. Megabanks on Wall Street have already taken the lead in accessing the AI model through Anthropic’s limited rollout program. Companies such as JPMorgan, Goldman Sachs, and Morgan Stanley have started internal tests. As a result, these entities seek to evaluate how AI can transform offensive and defensive cybersecurity approaches using the model.

Anthropic launched Project Glasswing to regulate access to Mythos and increase testing in a number of organizations. This program enables institutions to test risk in a controlled setting. Additionally, the program can be seen as an extension of an increased push to create balance between innovation and security controls as AI systems expand their potential.

DAO token RAVE rallied to an all-time high of $19.85 this month before dumping down to $11.80 and allowing a patient trader to short a large amount at $19.

Incredibly, however, after the token declined 23% in his favor below $15, his profit and loss figure still read -3,963%.

The trader, who goes by the name “Meekdonald” on X, shared the screenshot of his leveraged ByBit trade on April 15. It showed a 12x leveraged short on RAVE/USDT with an entry price of $19 and a then-current price of $14.70.

Commentators described the token’s rally, which Meekdonald timed to nearly the “pico top,” as a coordinated scheme to lure and liquidate short sellers.

Three wallets held roughly 90% of the token’s total supply.

Nevertheless, shorting it proved incredibly difficult and expensive.

A winning crypto short became a 3,900% loss

The culprit was the astronomical funding rate on ByBit’s perpetual futures contracts.

In perpetual futures, funding rates are periodic payments between longs and shorts and keep the contract price anchored to spot.

When short interest dominates, the rate turns negative, meaning shorts pay longs. The more crowded the short side becomes, the higher the cost.

During RAVE’s squeeze above $19, funding rates on major exchanges reached annualized levels as high as 4,800%. On Binance, the hourly rate hit -2%.

A short seller owed 2% of notional position value every hour, or 48% per day.

Amplify those 48% daily payments by the leverage ratio, and the losses start to make more sense.

At a 12x leverage on a cross-margin position, a -2% hourly funding rate on that notional value could drain roughly 24% of his collateral per hour.

The spot price fell from $19 to $14.70, rewarding his prediction that RAVE would decline in value. However, the cumulative funding payments overwhelmed the unrealized profit anyway, pushing ROI to nearly -4,000%.

The price moved in his direction but short funding rates moved even faster.

Social media platform X on Tuesday launched Cashtags, a feature that surfaces live price charts and related posts for stocks and crypto tokens directly in users’ timelines.

The feature, currently available only on iPhone in the U.S. and Canada, was announced by Head of Product Nikita Bier, who said the platform influences billions of dollars in investment decisions daily based on what users read in their feeds.

Cashtags work by letting users type a dollar-sign ticker or paste a contract address into a post or search bar. X then suggests matching assets so users can select the right one. Tapping a cashtag opens a dedicated view that shows the asset’s price chart alongside posts that mention it, all without leaving the app. Supported assets include major equities, cryptocurrencies, and memecoins using contract addresses on networks such as Solana and Base.

X has actually offered expanded cash tag functionality before, through partnerships with eToro in 2023 and TradingView in 2022, but this version goes further by adding on-chain asset support and, for the first time, a direct brokerage integration.

That integration comes via a pilot with Wealthsimple, Canada’s largest online brokerage. Canadian users who tap a cashtag will see a button that routes them to a pre-filled trading screen on Wealthsimple, creating what the company describes as a one-tap path from conversation to order entry.

The move fits squarely into a broader race among fintech and crypto platforms to build so-called super apps. As The Defiant has reported, U.S. crypto and fintech firms, including Coinbase and Robinhood, are chasing Asia’s super app model, bundling trading, payments, and social features into single platforms.

Rather than building a brokerage from scratch, X is layering financial infrastructure onto what is already one of the world’s most active venues for real-time market commentary. The company holds money transmitter licenses in more than 40 U.S. states, and its separate X Money payments product has completed internal testing.

Bier added that web and Android versions of Cashtags are coming soon, along with a global rollout of the feature.

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.