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Strive says digital credit selloff was a liquidation event, not a credit crisis

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Strive says digital credit selloff was a liquidation event, not a credit crisis

Latest developments: Digital credit products tied to Strategy’s bitcoin-backed ecosystem suffered steep declines last week before partially recovering.

  • Strategy’s preferred stock funding vehicle STRC fell as low as $82.53 on Thursday before rebounding to roughly $90.50, according to Strive Chief Risk Officer Jeff Walton.
  • Strive’s SATA dropped into the low $90 range before recovering to about $98.59.
  • Walton attributed the move to leverage liquidations and heavy selling pressure rather than deterioration in the underlying credit quality.
  • CEO Matt Cole previously described the episode as a “leverage liquidation event, not a credit failure.”
  • CoinDesk’s Jennifer Sanasie interviewed Strive Chief Risk Officer, Jeff Walton on Public Keys.

What happened: Strive’s analysis points to forced selling rather than a breakdown in decentralized finance markets.

  • Walton said trading data suggests holders sold the instruments, triggering liquidations elsewhere in traditional financial markets.
  • He said the event did not appear to originate from DeFi protocols.
  • The selloff occurred amid unusually large trading volumes across both securities.
  • Walton characterized the volatility as part of the maturation process for a new asset class.

The liquidity story: Strive argues the market’s ability to absorb large trading volumes is a positive signal.



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BofA Maintains a “Neutral” Rating on BorgWarner Inc. (BWA)

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BofA Maintains a “Neutral” Rating on BorgWarner Inc. (BWA)


BorgWarner Inc. (NYSE:BWA) is among the 10 Best EV Stocks to Invest In According to Hedge Funds.

On June 12, BofA analyst Alexander Perry raised BorgWarner Inc. (NYSE:BWA)’s price target to $78 from $65. The firm maintained a “Neutral” rating on the shares. It told investors the company has a “significant” near-term opportunity linked to AI-driven data center demand. The firm said BorgWarner’s TurboCell product could help it capitalize as automakers and suppliers expand into non-auto end markets.

On June 10, UBS upgraded BorgWarner Inc. (NYSE:BWA) to Buy from Neutral and lifted its price target to $95 from $61. The analyst noted that the firm is the auto supplier “best positioned” to benefit from non-auto opportunities. UBS added that it expects 23% of revenue and 30% of EBIT from non-auto segments by 2030, driving 19% annual earnings growth from 2027 to 2030.

BofA Maintains a “Neutral” Rating on BorgWarner Inc. (BWA)

Photo by Obi Onyeador on Unsplash

The corporation maintained its 2026 outlook, expecting $14.0 billion to $14.3 billion in net sales while projecting adjusted EPS between $5.00 and $5.20 and operating cash flow to $1.7 billion.

BorgWarner Inc. (NYSE:BWA) provides technology solutions for combustion, hybrid, and electric vehicles. It operates through the Turbos and Thermal Technologies, Drivetrain and Morse Systems, PowerDrive Systems, and Battery and Charging Systems segments.

While we acknowledge the potential of BWA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy

Disclosure: None. Follow Insider Monkey on Google News.



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Crypto’s second U.S. lobbying front — tax policy — sees industry push on mining, staking

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Crypto's second U.S. lobbying front — tax policy — sees industry push on mining, staking

While the top focus of the industry remains the Digital Asset Market Clarity Act that would establish a full U.S. regulatory regime for crypto activity, its second priority has been on crypto taxation, which was the central thrust of a June 9 committee hearing discussing several bills, including the legislation from Carey, an Ohio Republican.

Democrats on the committee revealed some concerns about how this bill would be utilized by the industry in practice, and outside critics such as the Revolving Door Project argued that crypto mining firms — including American Bitcoin, in which President Donald Trump’s sons Eric and Donald Jr. have a significant stake — could defer taxes indefinitely while still getting a financial benefit from their holdings.

The industry letter countered that the bill “does not provide unlimited deferral or full parity with all forms of self-created property; instead, it ensures income is recognized while avoiding immediate taxation before taxpayers can monetize the asset.”

Crypto tax policy has been approached by a number of legislative efforts over the years. The latest House bills remain at a fairly early stage of the process, while the current congressional session is facing its final months, so it’s uncertain what their viability is at this stage.



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Wells Fargo Maintains an “Overweight” rating on ON Semiconductor Corporation (ON)

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Wells Fargo Maintains an “Overweight” rating on ON Semiconductor Corporation (ON)


ON Semiconductor Corporation (NASDAQ:ON) is among the 10 Best EV Stocks to Invest In According to Hedge Funds.

On June 9, Wells Fargo raised its price target on ON Semiconductor Corporation (NASDAQ:ON) to $140 from $115. The analyst maintained an “Overweight” rating on the shares. It also noted the emergence of “physical AI,” pointing to humanoid robotics as a potential long-term growth driver for analog and mixed signal chipmakers. The firm estimated a $1.6 billion semiconductor opportunity by 2030 linked to that trend.

That same day, ON Semiconductor Corporation (NASDAQ:ON) announced the launch of GaNEXUS. It is a gallium nitride power portfolio designed to improve efficiency and power density across artificial intelligence data centers, robotics, and energy infrastructure applications. The company said its GaNEXUS FETs, from 40V to 650V, are now sampling and include integrated protection features to simplify system integration and improve reliability.

The corporation stated that the platform delivers faster switching speeds, lower losses, and high thermal performance. When paired with its Treo platform, it enables more solid system-level power solutions.

Wells Fargo Maintains an “Overweight” rating on ON Semiconductor Corporation (ON)

Photo by JESHOOTS.COM on Unsplash

ON Semiconductor Corporation (NASDAQ:ON) works in the provision of intelligent power and sensing solutions with a primary focus on automotive and industrial markets. It operates through Power Solutions Group, Analog and Mixed-Signal Group, and Intelligent Sensing Group segments.

While we acknowledge the potential of ON as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy

Disclosure: None. Follow Insider Monkey on Google News.



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Sony industry starmaker Clive Davis, who brought up Janis Joplin and Whitney Houston, dead at 94

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Sony industry starmaker Clive Davis, who brought up Janis Joplin and Whitney Houston, dead at 94

Clive Davis, the record company lawyer who became one of the music industry’s most powerful figures, launching or resurrecting the careers of such superstars as Janis Joplin, Whitney Houston, Carlos Santana and Alicia Keys, has died, his family confirmed. He was 94.

Earlier this year, Davis was hospitalized following an upper respiratory issue and was released a few days later. His death, in his Manhattan apartment, was confirmed by his publicist Aliza Rabinoff, who also shared a statement from his family.

“To the world, our father was the iconic music legend whose vision, instincts, and relentless pursuit of excellence shaped the soundtrack of countless lives. He discovered, mentored, and championed the greatest artists in modern music history, leaving an indelible mark on culture that will endure for generations,” the statement read.

Unlike other record moguls whose influence waned as they got older, Davis’ might only seemed to grow over his career, which spanned multiple genres and labels. Into his 80s, he was directing the careers of everyone from Barry Manilow to “American Idol” winners Carrie Underwood and Kelly Clarkson.

His success stories were staggering, with Houston a crowning achievement and devastating tragedy: Davis signed her to his Arista record label when she was just a teen and turned her into America’s reigning pop princess.

Houston racked up multiple No. 1 hits and became one of the top-selling artists in pop history before drug abuse hobbled her career. She died in a Los Angeles hotel room in 2012, just hours before she was to appear at the annual pre-Grammy Awards gala hosted by Davis, who had been convinced she was turning her life around.

“Maybe I should have been more skeptical,” Davis wrote in his 2013 memoir, “The Soundtrack of My Life,” “but I’ve always been optimistic, and I felt hopeful. It felt like old times.”

He also launched the career of multi-platinum, multiple-Grammy winner Keys — and was quick to note other talents he signed, including Joplin and Billy Joel, Blood Sweat & Tears and other “all-timers,” as he so often put it.

“I signed Patti Smith, the great Renaissance woman … I signed Lou Reed … I signed the Grateful Dead,” he proudly touted in an interview with The Associated Press in 1999.

But Davis didn’t simply have an eye for new talent — he also knew how to keep veterans relevant decades after their first hit. Aretha Franklin, whose legend was made at Atlantic Records, flourished in her later years at Arista, as did Luther Vandross, who made his last albums for another Davis label, J Records.

It was Davis who conceived of the 1999 album “Supernatural,” which paired guitar god Santana with some of the day’s hottest talents. The record won a record-tying eight Grammys and gave Santana more success than he had ever enjoyed in his decades-long career.

He had middle aged star Rod Stewart trade in his rock hits for standards from “The Great American Songbook.” The album, released in 2003, sold millions and was so successful it spawned four titles in all.

Davis didn’t always make the right choices; he turned down a chance to sign up Meatloaf. And he and his collaborators didn’t always agree. He and producer David Foster fought bitterly over the arrangement for Houston’s all-time hit, a cover of Dolly Parton’s “I Will Always Love You.”

And Manilow strongly objected to recording “I Write the Songs,” noting that he didn’t even write the song, a Bruce Johnston ballad that became a signature hit for Manilow, who would have similar latter-day success mining the music of the 1950s, 60s and ’70s.

“He’s just brilliant at picking ideas he thinks the public will connect,” raved Manilow, who had worked with Davis since he was a budding singer at Columbia Records.

Davis also had his struggles. Though he became president of Columbia Records in 1967 after joining the label in 1960 as a lawyer, by 1973 he was gone in a bitter fallout. The label accused him of mismanagement of funds and he was fired. Although Davis says he was later cleared, it wasn’t the end of his problems; he later was indicted on tax evasion charges, pleaded guilty to one count and had to pay a $10,000 fine.

However, Davis would declare victory: He says Columbia gave him the money to start Arista to resolve the dispute, and the label would become a huge success with artists like country superstars Brooks & Dunn, sassy R&B group TLC, Babyface, Houston, Franklin and others.

The label had huge success with a debut act — Milli Vanilli. But the male pop duo would become the embarrassment of the industry when, after winning a Grammy, it was revealed that they weren’t actually singing their songs (Davis blamed the debacle on the label’s European division, which he said signed them; the group was later stripped of its best new artist Grammy).

In 1999, as Arista was celebrating its 25th anniversary, Davis faced another crisis: The label’s then-parent company, BMG Entertainment, a division of German media conglomerate Bertelsmann, wanted him to retire; most of its executives were eased out by 60, and Davis was in his mid-60s.

In 2000, despite support from his superstar roster, the company ousted him in favor of producer and songwriter Antonio “L.A.” Reid, who would later become chairman of Island/Def Jam.

However, instead of severing its ties with Davis, BMG helped him launch J Records in what BMG has described as the largest record company startup ever created. Vandross was one of his initial artists, along with forgettable acts like the boy-band O-Town.

J Records was a success from the start, though, and only grew in stature with the arrival of a young singer named Keys, a piano-playing singer-songwriter with powerful pipes and dramatic R&B songs. Keys’ albums would go on to sell millions and win several Grammys.

His influence grew even more when Davis was tapped for BMG’s U.S. division.

He became a key backer of the careers of the winners of “American Idol,” guiding many albums to platinum status. The show’s link to Sony BMG came through a deal between Davis and 19 Recordings Unlimited, the label managed by “Idol” creator Simon Fuller.

In 2007, however, Davis disagreed with the direction of Clarkson’s “My December,” and she publicly criticized him. The album was a flop, and she later apologized.

In 2008, Sony BMG replaced Davis as chairman and chief executive officer of the BMG label group, giving him the title of chief creative officer.

Davis, who was born on April 4, 1932, had four children. In his memoir, he confirmed longtime rumors that he was bisexual and had been living with a man in recent years.

“Do I feel I could have been similarly attracted to a woman?” Davis wrote. “The answer is yes.”

His family shared a loving statement on Monday.

“Through every chapter of his remarkable life, family remained Clive’s greatest pride and deepest joy. Today, we celebrate not only a towering figure whose influence changed music forever, but the man who led our family with grace, generosity, and kindness. We will miss him greatly, cherish him always, and carry his love with us for the rest of our lives.”

—-

Former AP writer Nekesa Mumbi Moody was the main writer of this obituary.



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EigenCloud jumps 17% as Open Interest jumps – EIGEN can reach $0.35 IF…

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EigenCloud jumps 17% as Open Interest jumps – EIGEN can reach $0.35 IF…


EigenCloud [EIGEN] attracted strong trader interest after its price climbed 17.33% over the past 24 hours and reached $0.3058 at the time of writing. 

Trading activity expanded alongside the rally, with daily volume rising to $93.96 million, reflecting a 5.07% increase. 

The move stood out because EIGEN had spent several months trading inside a broad consolidation range before buyers pushed the asset above a key resistance zone. 

As a result, EIGEN emerged among the stronger performers across the market. 

The combination of rising price and growing trading activity suggested that buyers had actively supported the breakout rather than relying on thin liquidity conditions.

Leverage returns as traders increase exposure 

Open Interest [OI] climbed 24.13% and reached $67.27 million, showing that fresh capital entered the futures market as EIGEN advanced. 

The increase in Open Interest alongside a rising price often signals growing conviction among market participants because traders continue adding positions instead of reducing exposure. 

Such behavior indicated that speculative interest strengthened during the latest advance. 

While a sharp rise in leveraged positioning can increase volatility, the data suggested traders had remained engaged throughout the breakout. 

Continued growth in Open Interest would indicate sustained participation, whereas a decline could signal that traders have started locking in profits after the recent move higher.

Source: CoinGlass

Binance traders refuse to abandon bulls

Binance positioning data showed that top traders maintained a strong bullish bias despite the recent rally. 

Long accounts represented 66.69% of positions, while short accounts accounted for only 33.31%. 

This distribution produced a Long/Short Ratio of 2.00, indicating that bullish traders outnumbered bearish participants by a wide margin.

The chart also showed that long exposure had remained dominant for most of the observed period, even during temporary pullbacks. 

That trend suggested experienced traders continued anticipating additional upside rather than preparing for a deeper correction. 

Although crowded long positioning can sometimes increase liquidation risks, the current structure reflected sustained confidence in EIGEN’s direction. 

Should traders maintain these ratios, bullish sentiment would likely continue supporting price stability above recently reclaimed levels.

Source: CoinGlass

EIGEN breakout clears months of resistance

EIGEN delivered a decisive technical breakout after moving above the upper boundary of its long-standing range near $0.25. 

Price had traded inside a broad consolidation zone between approximately $0.15 and $0.25 for several months before buyers forced a move beyond resistance. 

That breakout pushed EIGEN toward $0.31 and established its highest level in weeks.

The technical structure showed a clear shift in market control because buyers successfully reclaimed an area that had repeatedly capped advances. 

The Relative Strength Index climbed to 74.96, placing EIGEN firmly in overbought territory. 

Such readings typically emerge when buying pressure accelerates and traders aggressively accumulate positions. 

The RSI moving average stood near 55.34, highlighting the strength of the recent advance relative to previous weeks.

If bulls maintain control above $0.25, attention could shift toward the next major resistance level around $0.35. 

Beyond that zone, the chart highlighted $0.45 as another notable target. 

However, losing the newly reclaimed support area could invite renewed selling pressure and place the breakout structure under scrutiny.

EIGEN price prediction EIGEN price prediction
Source: TradingView

Final Summary

  • EIGEN broke above range resistance as volume and trader participation increased.
  • Binance traders remained heavily long while RSI reflected strong buying pressure.

 



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Ethereum (ETH) news: talent exodus sparks fresh debate over foundation leadership

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Ethereum (ETH) news: talent exodus sparks fresh debate over foundation leadership

The departures also come as the foundation has unveiled a new strategic framework known as “CROPS,” an acronym standing for cypherpunk values, resilience, open-source development, permissionlessness and security. Foundation leaders presented the framework as a way to clarify the EF’s mission and reinforce Ethereum’s core values as the ecosystem becomes increasingly decentralized. Supporters viewed it as a reaffirmation of Ethereum’s founding principles, while critics argued it did little to address concerns about execution, organizational effectiveness and the network’s competitive position.

Among the most vocal critics was former Ethereum researcher Dankrad Feist, who suggested the recent spate of executive departures reflected deeper management issues rather than disagreements over strategy.

“The people who are leaving the Ethereum Foundation are CROPS believers,” Feist wrote on X. “The problem isn’t with the strategy, it’s with management.”

Feist’s comments were notable because they challenged the prevailing idea that recent departures stemmed from dissatisfaction with the foundation’s new direction. Instead, he argued that many of those leaving supported the CROPS vision itself, making the loss of talent a reflection of leadership shortcomings rather than ideological disagreements. “The exodus of talent is truly bearish for Ethereum, sadly,” he added.

Other community members echoed concerns about the Foundation’s internal dynamics. “It makes me sad to see the dysfunction at the Ethereum Foundation,” head of engineering at Coinbase Yuga Cohler wrote on X.



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