Crypto World
Tom Lee Is Bullish on Stocks, But Braced for a Margin Debt Drop
Fundstrat’s Tom Lee reiterated his call for the S&P 500 to reach 8,000 by the end of August. He also repeated his warning that stocks are due for a pullback.
Speaking on CNBC, Lee joined Robinhood’s Stephanie Guild and Payne Capital’s Courtney Garcia. He said both views can hold at the same time.
A Bull Case Built on Earnings
Lee based his target on rising 2027 earnings estimates. He put the current figure near $410 per share, up from about $395 at the start of earnings season. Lee said the estimate could reach $425 by the end of the month.
Applying a price to earnings multiple of 20 to that figure would put the index close to 9,000, Lee said.
Courtney Garcia pointed to a broader trend supporting the rally. She noted that healthcare, financials, and industrials have all outperformed the S&P 500 over the past three months.
That breadth matters because the gains no longer depend on a handful of large technology names. Garcia added that the rally can continue if earnings and consumer spending keep holding up.
Four Risks Lee Is Watching
Lee named specific reasons a 10% pullback could still hit once the market reaches his 8,000 target. He pointed to record margin debt levels and an unresolved reaction to Fed Chair Kevin Warsh’s new inflation framework. He also flagged midterm election uncertainty and further stock unlocks at SpaceX.
That SpaceX concern comes even as SpaceX short interest has already dropped since its own lockup expired earlier this month.
“I think pullbacks occur when we’re least expecting it, you know, and usually when investors are bullish.”
Lee made a similar S&P 500 call earlier this month. He first flagged the same 8,000 target in early August, alongside a separate call on Ethereum.
He compared the current setup to 1998, when stocks kept climbing after the Long-Term Capital Management collapse. That rally lasted another 18 months and added 35%, he said.
Valuations have cooled by two full turns since March, even as earnings growth more than doubled. Lee called that combination a sign of healthy skepticism rather than exhaustion.
The post Tom Lee Is Bullish on Stocks, But Braced for a Margin Debt Drop appeared first on BeInCrypto.
The market has been in a rough patch for some time. The total crypto market capitalization is down 1.1% today, falling to $2.17 trillion, as pessimism continues to grow. The mood has been getting darker as prices struggle to regain momentum and traders become increasingly cautious.
At the same time, crypto “dead” chatter is rising again across X, Reddit, Telegram, and other crypto channels.
“Dead, Dying, Finished”
Terms such as dead, dying, over, ended, ending, and finished are gaining traction. According to Santiment’s latest update, this language reflects fear and often appears as retail patience weakens, prices remain stuck, and traders view temporary weakness as lasting failure.
Crypto markets can move against the crowd when bearish views become too certain. If “crypto is dead” talk rises while Bitcoin holds key levels, stronger hands continue accumulating, and forced selling declines, the market structure can become more attractive for patient buyers, the analytic firm explained.
Bitcoin has had its obituary written many times before, but it has repeatedly bounced back and gone on to deliver strong returns. The cryptocurrency once existed largely as a sideshow in the underbelly of the internet. Over time, however, it moved from the fringes into the center of mainstream finance. Now, despite all that attention and acceptance, Bitcoin is facing another period of weakness. Its price has been stuck around $63,000 for weeks, bringing back the familiar debate over whether it has lost its momentum.
The latest wave of fear is worth watching, especially as some investors see opportunity instead. In a recent tweet, Crypto Patel said investors calling Bitcoin “dead” may be missing the bigger picture. Retail traders often see fear when prices weaken. But, according to the analyst, whales may see the same period as a long-term BTC accumulation zone.
This trend is evident in recent reports, which also suggest that the largest wallets are growing again. The number of wallets holding at least 10,000 BTC returned to a six-month high. There are currently 90 such wallets, up by six over the past eight weeks. During this period, holdings among micro wallets have declined in August.
Collapsing Sentiment
Chiming in on the growing narrative, another market watcher, Allen Rodgers, said the trend is worth watching because similar spikes in the narrative have appeared during periods of extreme fear, often when the asset was close to finding a bottom. According to Rodgers, the pattern usually starts with the crowd turning bearish and social sentiment collapsing. The market can then begin to turn before traders feel comfortable buying again.
“Then the market starts turning before anyone feels comfortable buying. Not saying history has to repeat. But when everyone starts calling the same market ‘dead’ again…”
The post ‘Crypto Is Dead’ Talk Is Rising; Could Peak Fear Be a Contrarian Signal? appeared first on CryptoPotato.
Stablecoin payments company RedotPay delayed a planned $1 billion U.S. IPO to deal with legal issues, Bloomberg reported Friday, citing people familiar with the decision.
The listing, initially planned for this year, is unlikely to take place before 2027, the people told the financial news organization.
“Our strategy continues to focus on global regulatory compliance and business growth,” a RedotPay spokesperson told CoinDesk via Telegram. “This week we obtained a money transmitter license in the U.S. We are preparing to launch our product in the U.S.”
The spokesperson declined to comment on the IPO plan, which emerged in February. Hong Kong-based RedotPay is said to have tapped JPMorgan, Goldman Sachs and Jeffries for the potential listing.
RedotPay, which describes itself as the world’s largest stablecoin payment card issuer, faces a $470 million lawsuit lodged by Binance in Hong Kong alleging that it poached roughly 470,000 users when both firms had an agreement. Under the accord, the crypto exchange allowed its customers to use Binance Pay funds on RedotPay to convert crypto to fiat currency. Binance filed a parallel case in Singapore.
The RedotPay spokesperson said the company, which hit unicorn status in September, reported a record-high 8.5 million users in the second quarter and a record $180 million in annualized revenue. It reported nearly $12 billion in annualized revenue and 8 million users in the first quarter.
RedotPay has reportedly delayed a planned US initial public offering that could raise more than $1 billion as the Hong Kong stablecoin payments company works through regulatory approvals and legal disputes while preparing to enter the US market.
Summary
- RedotPay has reportedly delayed its US IPO while seeking regulatory approvals and dealing with legal disputes involving Binance.
- The company secured a US money transmitter license this week and is preparing to launch its products in the country.
- Binance affiliates are seeking nearly $473 million in damages from RedotPay’s founders in a Hong Kong lawsuit.
- RedotPay said its Q2 2026 results reached record levels for users, revenue, profit and margins.
Bloomberg reported on Aug. 14, citing people familiar with the matter, that RedotPay had pushed back its listing plans as the company seeks regulatory approvals and deals with legal disputes involving Binance.
A spokesperson for RedotPay declined to comment on the timing of the IPO when contacted by crypto.news, but said the company had secured a US money transmitter license this week and was preparing to launch its products in the country.
“Our strategy continues to focus on global regulatory compliance and business growth,” the spokesperson said. “This week, we obtained a money transmitter license in the US. We are preparing to launch our product in the US.”
The spokesperson also said RedotPay reported record users, revenue, profit and margins in its Q2 2026 investor update, without providing figures for the period.
RedotPay IPO plans have faced a delay
RedotPay’s potential US listing first emerged in February, when the company was reported to be considering a New York IPO that could raise more than $1 billion and value the payments firm at over $4 billion.
At the time, previous coverage showed that RedotPay was working with JPMorgan Chase, Goldman Sachs and Jefferies Financial Group on the proposed transaction, with a listing considered possible during 2026.
Founded in Hong Kong in April 2023, RedotPay provides stablecoin-based payment services, including crypto payment cards, multicurrency wallets and global payouts. By February, the company had more than 6 million users across over 100 markets and was processing billions of dollars in annualized payment volume.
The firm had also raised $194 million during 2025. A $107 million Series B financing led its December funding round, with Goodwater Capital, Pantera Capital and Blockchain Capital among its backers.
Before the Series B, RedotPay secured $40 million in a Series A round backed by Lightspeed, Galaxy and HongShan. The financing helped the company reach unicorn status before reports about its potential US listing surfaced.
RedotPay has separately been discussing another private funding round of as much as $150 million, according to earlier reports. The talks have taken place while the company adjusts its organizational structure and continues preparations for a possible public offering.
“As we transition from an early-stage startup to a unicorn, we are evolving our organizational structure and talent pool to support our ongoing growth trajectory,” the company said in March.
Binance lawsuit has added a $473 million dispute
Alongside the regulatory work needed for its US expansion, RedotPay is facing claims from Binance affiliates in Hong Kong seeking nearly $473 million in damages.
The Binance-linked plaintiffs sued RedotPay’s founders earlier in August, alleging they used confidential information obtained during their previous employment with Binance to establish a competing payments company and move hundreds of thousands of Binance customers to the new platform.
According to the claims, the confidential material was allegedly used to help RedotPay build its payments business and attract users who previously used Binance. RedotPay has rejected the allegations and said it would “vigorously defend all claims.”
The dispute also extends to Singapore, where the two companies have offered conflicting accounts of the status of a related case.
RedotPay said earlier this week that it expected Binance to discontinue the Singapore proceedings following an Aug. 7 hearing. Binance disputed that account and said it had not withdrawn its claims.
Legal pressure around Binance has extended into several markets during 2026. In July, nearly 1,700 British investors filed a London lawsuit seeking at least £150 million, or roughly $200 million, from Binance, founder Changpeng Zhao and other defendants over alleged losses linked to crypto derivatives.
The UK claim alleges that leveraged tokens, futures and options were offered without the required regulatory authorization. Binance said it would defend itself against the allegations.
US launch adds to RedotPay’s payment expansion
While its IPO timetable has reportedly been pushed back, RedotPay’s newly obtained money transmitter license gives the company another regulatory approval as it prepares to offer its services in the US.
The company has already been extending its stablecoin payment services into other markets. In June 2025, RedotPay launched payments in Brazil after integrating Circle Payments Network into its platform.
The service allowed users to send crypto directly to Brazilian bank accounts, where the assets were automatically converted into Brazilian reais. RedotPay had more than 4 million users when the Brazil service was introduced.
Circle’s network was used to handle the crypto-to-fiat payment process without requiring prefunded accounts between participating institutions. RedotPay CEO Michael Gao said at the time that the Brazil launch was focused on reducing the cost and time involved in payments for users in emerging markets.
The company has since continued building its user base and payment infrastructure while pursuing licenses in jurisdictions where it plans to operate.
For its next expansion, RedotPay has not provided a launch date for its US product. The spokesperson said preparations are underway following the money transmitter license approval, while the company continues to focus on regulatory compliance and business growth.
RedotPay has also not disclosed when it could revive the delayed IPO process or whether its reported discussions with JPMorgan Chase, Goldman Sachs and Jefferies remain unchanged.
[Update, Aug. 14, 07:56 UTC: This article was updated to clarify Andre Cronje’s role in developing Fantom’s working network and his former role as Sonic Labs chief technology officer.]
Most decentralized finance (DeFi) protocols are no longer truly decentralized, according to Andre Cronje, founder of DeFi platform Flying Tulip and the technical architect who led the development of Fantom’s working network.
“I don’t think DeFi exists anymore outside of those very small niches,” Cronje told Cointelegraph during Thursday’s Chain Reaction X Spaces show.
He argued that “true DeFi” needs to be decentralized, immutable and without an intermediary, adding: “That statement isn’t really true for pretty much any other protocols running today.”
It’s an idea that Cronje has been raising for months. Earlier this year, he said much of DeFi is “no longer DeFi” in the strict sense, as builders debate whether circuit breakers and other emergency controls are now necessary to protect users from exploits.
Total value locked (TVL) in DeFi more than halved over the past 10 months, to $75 billion at the time of writing from $167 billion in early October 2025, according to DefiLlama.
DeFi TVL, all-time chart. Source: DefiLlama
He’s not alone in this thinking. The European Central Bank has also questioned whether decentralized autonomous organizations (DAOs) are sufficiently decentralized to remain outside regulators’ scope. In a March working paper, the ECB looked at Aave, MakerDAO, Ampleforth and Uniswap and found that the top 100 governance token holders controlled more than 80% of the supply in each protocol, based on holdings snapshots from November 2022 and May 2023.
The ECB authors said these findings call into question the inherent decentralization of DAOs and whether they should remain outside of the bloc’s Markets in Crypto-Assets Regulation (MiCA) as “fully decentralized” services.
Related: Wintermute to pour $1B into AI, high-frequency trading amid TradFi expansion: Report
DeFi departed from decentralization
Cronje contended that DeFi departed from its inherent decentralization into a new financial paradigm called “onchain finance or open finance.” To support this, he said:
“We’ve long since moved on from [DeFi]. Because your intermediary now is a company, it’s a decision maker, it’s a curator, it’s a risk committee, it’s all the traditional kind of things we saw in banking. ”
However, Cronje argued that this doesn’t exclude the existence of true DeFi and added that he still sees true innovation among some DeFi protocols.
Cronje is among the most respected founders in DeFi. The Sonic blockchain, whose design and development Cronje led as Sonic Labs chief technology officer, claims to be the fastest Ethereum Virtual Machine chain that reached a “true” 720-millisecond finality in a testnet environment.
Previously, Cronje founded Yearn.finance and the Keep3r Network.
Magazine: Why Ethereum developers want ‘one-click staking’ for institutions
RedotPay’s plans for a US stock market debut have reportedly been delayed as the stablecoin payment company prepares to expand into the country.
The company delayed plans for a US initial public offering (IPO) while it seeks regulatory approvals and contends with legal disputes involving Binance, Bloomberg reported on Friday, citing people familiar with the matter.
A RedotPay representative declined to comment on the timing of an IPO to Cointelegraph. The representative instead pointed to the company’s US expansion, saying RedotPay obtained a money transmitter license in the US this week and is preparing to launch its product in the country.
The reported setback follows a nearly $473 million lawsuit filed by Binance affiliates and comes as RedotPay works to expand its regulatory footprint in the US and other markets.
RedotPay’s IPO ambitions surfaced in February
RedotPay, founded in 2023 and based in Hong Kong, first emerged as a potential US public-market entrant in February, when reports surfaced that the company was considering a New York listing.
RedotPay has reportedly been working with JPMorgan Chase, Goldman Sachs and Jefferies Financial Group on a listing that could raise more than $1 billion. At the time, the company was seeking a valuation of more than $4 billion.
Related: Bithumb sets 2028 IPO timetable as it overhauls internal controls
Separately, RedotPay has reportedly been in talks to raise up to $150 million in new funding amid organizational changes and preparations for a potential IPO. “As we transition from an early-stage startup to a unicorn, we are evolving our organizational structure and talent pool to support our ongoing growth trajectory,” RedotPay told Cointelegraph in March.
Binance lawsuit adds legal pressure
Binance affiliates sued RedotPay’s founders in Hong Kong earlier in August, seeking nearly $473 million in damages over allegations that they diverted hundreds of thousands of customers from Binance to RedotPay.
The plaintiffs allege that RedotPay’s founders used confidential information obtained through their previous work with Binance to build a competing payments business and attract Binance users. RedotPay rejected the allegations and told Cointelegraph it would “vigorously defend all claims.”
The dispute has also spilled into Singapore, where Binance and RedotPay disagree over the fate of a related case. RedotPay told Cointelegraph this week that it expected Binance to discontinue the case, while Binance rejected that account and said its claims remain active.
Magazine: Inside the fake crypto startup that fooled North Korean IT workers
“When we look at Gen Z, which has grown up amid constant chaos and really a loneliness epidemic, it makes sense why this cohort would be moving into religion as an organized form of not only community and a sense of belonging, but it also gives them purpose and a way to find meaning in a world that has felt very chaotic,” Janfaza says.
Gross, who recently moved to Fort Lauderdale, says it seems to him that, in New York, “definitely the numbers are up.” His TikToks of St. Joseph’s in Greenwich Village show packed pews. Sometimes, he says, people have to stand in the back.
And he attributes that to young people craving community, particularly in the aftermath of the COVID-19 pandemic.
“I mean, some people may call us the crisis generation; there’s been a lot of stuff that we’ve gone through that has made us feel anxious, uncertain, lost, not loved, lack of community,” Gross says.
“And in times like that,” he says, people may feel like, “‘I can’t play this game of life alone, and I need somebody else that I can put my trust in, and someone else that I can believe in, and someone else that I know at the end of the day loves me and is going to lead me down a path for a greater good.’”
The price of Ethereum has declined consistently over the last seven days. Many factors could be responsible for this trend, including the activity (buying and selling of ETH) of large traders, commonly known as whales.
Ethereum price chart for the last 7 days. Source: Coinmarketcap.com
To find out if whales are responsible, we analyzed Ethereum trading data for decentralized exchanges (DEX) from Dune Analytics for the last seven days and answered four important questions.
- Have large traders been buying or selling ETH?
- Has their activity increased or decreased over this period?
- Which whale groups are driving the activities and capital flows?
- Are these activities responsible for the ETH price decline?
We categorized whales into three cohorts, placing them in $100K–$500K, $500K–$1M, or $1M–$5M. The analysis shows that while whales have been active within this period, they are not directly responsible for the price decline.
No Strong Buying Or Selling Bias
The data shows that large DEX traders had a slight buying bias, buying approximately $358 million of WETH and selling approximately $352M during the period, with a $6M net difference. This difference isn’t significant, indicating a nearly balanced buying and selling pattern within the last seven days.
Whale buy vs sell volume for the last seven days. Source: Dune.com
High Volatility But No Clear Trend
Whale activity showed no clear trend over the last seven days, as there is no clear increase or decrease. However, sharp differences in activity are clear, with a huge decline over the weekend indicating significant volatility. This shows that large traders have been active in the market.
Whale activity showing volatility in the last 7 days. Source: Dune.com
Smaller Size Whales Drive Activity But Capital Flow
Large traders with amounts ranging from $100K–$500K accounted for 86% of whale activity by transaction count. This shows that moderately large traders were the most frequent participants over the period.
Whale trading counts. Source: Dune.com
However, the $1M–$5M cohort, with only 8.7% of trades, comes very close in terms of trading volume at 45.13%, compared to 45.64% for the $100K–$500K cohort. This indicates that while moderately sized whales are the most frequent participants, larger whales have a disproportionately greater impact on capital flows despite their significantly fewer transactions.
Whale trading volume in USD. Source: Dune.com
ETH Price Decline Unrelated To Whale Activity
Despite sharp differences in the large traders’ activities by day, ETH price declined consistently, while whale trading volume fluctuated without a corresponding trend over the period in focus. This shows that the price decline has no direct link with large trader activities in the last seven days.
Ethereum price with respect to whale activity. Source: Dune.com
Conclusion
The data reveals that while there is no clear trend in the activity of whales over the last seven days, ETH price continued to fall. The findings suggest that whale activity over this period is not directly responsible for the price decline.
However, the analysis only considers data for the last seven days, which may be too short a period to give an accurate picture of what is really going on. Also, the price decline may be driven by other factors such as general current sentiment among retail traders, who ultimately are the majority of the market.
An interesting direction to also consider, which this analysis doesn’t cover, would be to determine where large traders are sending their ETH to—whether to centralized exchanges (CEX) or to private wallets. The finding could give important insight into the minds of these big players and tell us what to expect from the market next.
Bitcoin investors received what should have been a fairly supportive and positive combination of macroeconomic data in the past week, starting with the weak US jobs report last Friday.
However, the asset failed to produce any significant gains, again. Moreover, it has lost some traction and is actually down on a weekly scale, currently struggling to remain above $63,000. Why is that?
Why No Gains, BTC?
After the jobs report from a week ago, which managed to push BTC beyond $65,000 briefly, all eyes turned to the US CPI data on Wednesday. As reported, the July numbers came broadly in line with expectations, initially leading to a brief rebound to $64,400 before Bitcoin gave the gains back and resumed the downtrend it was already on as the business week progressed.
The subsequent PPI report was even more encouraging, with producer prices remaining flat month-over-month, contrary to expectations of a 0.2% increase. CryptoQuant weighed in on the matter and added that Treasury yields declined, while US equities posted some gains. Under normal circumstances, this combination should have provided some relief for risk-on assets, but BTC has failed to make a move upward.
Their analysis indicated that the explanation may have less to do with the macro environment and considerably more to do with a simple problem: Bitcoin buyers are nowhere to be seen in the spot market.
The report explained that such trading activity remains subdued, while flows into the US BTC ETFs have remained relatively weak in the past several days. Even more importantly, the Coinbase Premium Index continues to be almost entirely in negative territory for three months, and it now sits at around -0.1%.
The analysts added that the seven-day average spot trading volume across major exchanges dropped from nearly $9 billion in late June to under $4 billion on August 12. This 55% decline came even as BTC’s price recovered 8% within the same timeframe.
The Real Price Test
CQ identified Bitcoin’s short-term holder cost basis at around $68,700 as a major obstacle to the asset’s path forward, as it’s a level at which investors who bought relatively recently could exit at breakeven if the cryptocurrency reaches it.
As such, a surge to $65,000 won’t be enough to confirm that the broader trend has changed. They believe a more sustainable recovery would require several developments at once: renewed, significant ETF inflows, such as those from the previous week; stronger spot volume; a return to a positive Coinbase Premium; and a decisive break above $68,700.
The post Bitcoin Shrugged Off Good CPI and PPI Data: Why Is BTC Still Stalling? appeared first on CryptoPotato.
Sending USDT over the TRON network is particularly popular because of its speed and broad adoption. That said, TRC-20 transfers also require network resources.
When a wallet doesn’t have enough TRON Energy, TRX may be burned to cover the remaining cost of executing the smart contract. For users who make frequent transfers, renting energy provides an alternative to staking a large amount of TRX solely to generate network resources.
This is exactly the type of use case that TronBid’s marketplace is built around. It brings together users who want to rent TRON energy and holders of staked TRX who have unused energy or bandwidth they want to monetize.
Instead of offering only one way to acquire energy, TronBid combines a P2P marketplace, instant energy rental, a Telegram bot, a calculator, and API access in one single ecosystem. Its marketplace also allows both buyers and sellers to create their own orders, giving participants more flexibility over pricing and rental terms.
What is TronBid?
TronBid brings forward a marketplace and a rental platform for TRON network resources, primarily focused on energy and bandwidth.
TRON energy is consumed whenever smart contracts are executed on the network. Naturally, this includes the primary use case for the blockchain: USDT TRC-20 transfers. If an address doesn’t have sufficient energy available, TRX can be burned to cover the required network resources. As mentioned above, instead of staking a large amount of TRX themselves, users can receive temporarily delegated energy from another wallet.
TronBid creates the infrastructure needed to satisfy this delegation process.
Those users who need resources can rent energy through a ready-made package or participate in the marketplace directly. At the same time, those whose staked TRX generates unused resources are able to offer those resources to others while keeping complete ownership of their TRX.
How the TronBid Marketplace Works
The main TronBid Marketplace is essentially a P2P market for TRON energy and bandwidth. Its current structure gives users several ways to interact depending on whether they are buying or selling resources.
A buyer can create a buy order and specify the amount of energy or bandwidth needed, the price per unit, and the desired rental duration. Sellers, on the other hand, are able to review active orders and fulfill the ones that match the resources and the terms they are willing to provide.
TronBid also supports the ability for sellers to push their own offers, meaning that sellers can specify the resource, amount, asking price, and rental terms.
The goal is to complete a two-sided marketplace where buyers are not limited to waiting for a fixed rental price, and sellers are not limited to searching through existing buyer orders. Both sides can initiate a potential transaction.
A Two-Sided Market for TRON Energy
The two-sided structure is one of the most interesting features of the current TronBid platform.
A user who wants to rent TRON Energy has two basic options within the marketplace:
- Create a buy order with a preferred amount, price and rental period.
- Choose an existing seller offer and purchase Energy under the displayed terms.
Sellers have similar flexibility:
- Fulfill an existing buyer order.
- Create their own sell offer with a chosen amount, price and rental term.
This allows supply and demand to play a more direct role in price discovery.
Instead of all transactions depending on a centrally defined rental rate, buyers can signal what they are prepared to pay while sellers can signal what they are prepared to accept. U.Today has previously described TronBid’s open-market approach as a model where Energy providers compete on price, while the current TronBid platform expands that marketplace structure with dedicated seller-created offers.
Features of TronBid: Closer Look
Evidently, the platform is built around buying, selling, and renting energy on TRON, but let’s have a closer look at some of its more interesting features.
- Quick Rent
Users who need energy immediately can use TronBid Quick Rent to select a package, enter a TRON address, pay in TRX, and receive delegated energy automatically without having to wait for a match on the marketplace.
- Telegram Bot
TronBid’s official Telegram bot provides another quick and convenient way to access energy rental services, particularly for mobile users.
- API Access
Businesses and developers can integrate automated TRON energy rentals into wallets, payment services, exchanges, and other applications.
Conclusion
TRON Energy rental gives users an alternative to relying solely on TRX burning or staking large amounts of TRX when interacting with smart contracts such as USDT TRC-20.
TronBid approaches this market from several directions.
Users who want to rent TRON Energy can choose between instant fixed-package rental and a P2P marketplace.
Those who already have unused resources can sell TRON Energy or Bandwidth while retaining ownership of their staked TRX. Buyers and sellers can both create marketplace orders, while Telegram and API access extend the service beyond the main website.
The post TronBid: A Flexible Marketplace to Rent and Sell TRON Energy appeared first on CryptoPotato.
Bit Digital stock climbed after the company reported a $107.2 million net loss for the second quarter, breaking from the sell-off that punished rival crypto-linked shares this week.
The Nasdaq-listed Ethereum (ETH) treasury and artificial intelligence (AI) infrastructure firm booked $32.1 million in revenue. That marks a 15% gain over the first quarter.
Investors Look Past Bit Digital’s Quarterly Loss
Investors appeared to focus on the operating line rather than the headline loss. The stock added 2.05% to close at $1.49 on Thursday, then gained another 1.34% to $1.51 after hours.
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That reaction stood apart from the rest of the week’s crypto earnings slate. Bitdeer slid roughly 20% after its August 10 report, while Forward Industries fell 1.36% after hours despite closing the session higher.
The pattern was also observed earlier in other major crypto equities such as Coinbase, MARA Holdings, and CleanSpark.
Roughly $86 million of Bit Digital’s loss came from non-cash digital asset movements and non-operating items. That included a $46 million impairment on liquid staked ETH, which the company says was not a realized loss.
The loss also narrowed. Bit Digital lost $146.7 million, or $0.45 per diluted share, in the first quarter. This quarter’s figure was $0.31 per share.
Meanwhile, the operating businesses grew. Cloud services revenue climbed 42% to $23.8 million at a gross margin near 58%. Group gross profit reached $18.6 million.
Ethereum Treasury Now Funds the AI Business
Bit Digital held 164,310.5 Ethereum as of June 30. It bought 8,568 ETH for $20 million on May 11 and sold none during the quarter. The company raised $50 million against a portion of that treasury.
It also used its own balance sheet to commit up to $150 million to WhiteFiber through a delayed draw facility for the NC-1 data center campus. Bit Digital’s 27 million WhiteFiber shares carried an implied value of nearly $1.05 billion at quarter-end.
CEO Sam Tabar argued the market has not caught up to that shift.
“Our operating results improved through the quarter. Our valuation did not. The market continues to value Bit Digital primarily as a passive digital asset treasury, and the Board is currently evaluating our options to address that disconnect,” he said.
WhiteFiber has signed new multi-year cloud agreements worth more than $540 million in aggregate contract value since its last earnings call. Tabar said the wider portfolio should produce over $200 million in annualized revenue once fully deployed.
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The post Bit Digital Stock Rises Despite $107.2 Million Q2 Loss appeared first on BeInCrypto.
BofA cuts WeRide stock price target to $10.70 on valuation
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