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DoorDash Moves Incorporation From Delaware to Nevada

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DoorDash Moves Incorporation From Delaware to Nevada


DoorDash is set to become a Nevada-incorporated company.

Shareholders controlling 54.2% of the delivery service’s voting power agreed to end its incorporation in Delaware and head west, according to a Tuesday filing with the Securities and Exchange Commission.

The move was made with the written consent of the shareholders, including cofounders Tony Xu, Andy Fang, and Stanley Tang, according to the filing. DoorDash’s board had unanimously recommended reincorporating in Nevada.

DoorDash is the latest company to decide to move out of Delaware. While it’s long been the top state for companies looking to incorporate, big names from Roblox to VC firm Andreessen Horowitz have left over the last two years.

Elon Musk famously reincorporated SpaceX in Texas after a judge in Delaware voided his $55 billion pay package in 2024.

DoorDash cited its own concerns about Delaware’s legal system in Tuesday’s filing.

“DoorDash’s management and Board believe that the Company will be best positioned to pursue its corporate strategy within the more predictable, statute-based legal environment that Nevada provides,” the company wrote.

Delaware has a reputation of legal precedents that are favorable to businesses, DoorDash’s filing reads.

“However, in recent years, a discussion has emerged in the market over the legal landscape in Delaware, including as a result of cases that reached what many viewed as surprising results, an increasingly litigious environment and high-profile litigation outcomes that involved companies with controlling stockholders,” it continues.

Other states, such as Nevada, “attracted attention as potentially offering a more business-friendly, agile and predictable environment,” the company wrote.

Do you have a story idea about DoorDash? Contact this reporter at abitter@businessinsider.com or via encrypted messaging app Signal at 808-854-4501. Use a personal email address, a nonwork WiFi network, and a nonwork device; here’s our guide to sharing information securely.





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EToro reports second quarter crypto loss even as total profit beats estimates

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EToro reports second quarter crypto loss even as total profit beats estimates

EToro’s (ETOR) crypto trading was $7.2 million in the red in the second quarter of 2026, a decline of nearly 120% from the $37.7 million it made a year earlier, according to its second-quarter earnings released Tuesday.

The Tel Aviv, Israel-based trading platform reported $1.35 billion in cryptoasset revenue, around 29% lower than the $1.91 billion a year earlier. Its cost of revenue from cryptoassets was $1.35 billion, leaving a $7.2 million loss, compared with a $37.7 million gain a year earlier.

EToro said it is developing onchain perpetual futures and that crypto buying power is “coming soon.” Crypto activity has cooled, however: the company reported 1.4 million crypto trades in July, down 73% from a year earlier, while the average crypto trade fell 50% to $182.

Overall, eToro’s net contribution rose 9% year over year to $229 million, driven mainly by equity trading, while funded accounts increased 18% to 4.28 million. Shares fell as much as about 11% after the announcements. The report also noted that the adjusted diluted earnings per share of $0.68 beat analysts’ estimates of $0.61.

Shares nevertheless traded more than 12% lower in the hours following the earnings release at around $29.80.



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Another grocery chain quietly shuts down more stores

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moneyvests
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Another grocery chain quietly shuts down more stores


While concern continues to rise about the cost of groceries, another major issue is quietly cropping up in your neighborhood: local grocery stores closing.

During its June 2025 earnings call, Kroger announced that it would shutter 60 locations over the next 18 months, citing underperformance. The closures also affect other brands under the company umbrella, including Fred Meyer, Fry’s Food and Drug, Harris Teeter, Foods Co, Food 4 Less, King Soopers, Mariano’s, Pick ‘n Save, and QFC.

Many consumers struggling with higher food costs have turned to discount grocery stores for relief, but those are also winking out of sight in some areas. Aldi is another chain closing stores in 2026, with locations shuttering in Minnesota, Illinois, Texas, and Wisconsin. While the chain has plans to expand up to 3,200 locations by 2028, it needs to cut underperforming stores to reach that goal.

Grocery Outlet also falls into the discount category — and it’s also closing stores. The chain announced in March 2026 that it would shutter 36 locations. CEO Jason Potter said that the chain stretched itself too thin with a rapid expansion plan. 24 locations included in the closure are on the east coast, translating into less discount grocery options for many consumers in need of them.

Now, another grocery has announced new closures, some affecting locations that have been open for decades.

Safeway shutters more stores

Safeway’s most recent closure was Newport, Oregon, at 2220 N Coast Hwy, a location that served locals for 30 years. The store closed its doors in July. This closure follows the Hechinger Mall location in Washington, D.C., which was open for 40 years and shuttered on May 16. Before that, the Hayward Safeway on Jackson St. in California’s Bay Area closed in February 2026.

“Like all retailers, we are constantly evaluating our store footprint and have to look at every angle of the business. This includes our real estate portfolio. We are coming to the end of our lease at this location, and have made the decision to reinvest our resources into other existing stores,” Safeway said in a statement in response to the Washington store closure.

Related: Grocery giant rethinks supply chain plans as store closures mount

The closures are part of a strategic shift for Safeway’s parent company, Albertsons. 30 Albertsons locations closed in 2025, and another 12 are on the chopping block for 2026 so far.

“We’re continually looking at our store base and making decisions on whether to keep the stores or can we turn them around, can we change the profitability or making the difficult decisions from time to time to exit those stores. And we’ve not seen a dramatic shift or increase in store profitability at this time. Again, it’s a pretty small number of our fleet,” CEO Susan Morris said during the company’s first-quarter earnings call.

More Retail:

Kroger attempted to buy Albertsons for $24.6 billion in October 2022, but the merger was blocked by the Federal Trade Commission in February 2024. Albertsons responded by suing Kroger, saying it didn’t do enough to secure regulatory approval, and Kroger countersued. The lawsuits are currently ongoing.

How local grocery closures impact the consumer

For these companies, closing underperforming locations helps them stay on budget and make key moves in other areas. But for the consumers who have relied on the stores for decades, it creates a much larger problem.

Each closure removes a full-service grocery option from that neighborhood, which matters most in areas without many alternatives nearby. Both the Washington, D.C. and the Oregon Safeway had operated for decades — long enough that residents built shopping habits, transportation routines, and in some cases, food-access dependence around them.

Safeway store closures in 2026 (so far)

  • 231 W Jackson Street, Hayward, CA

  • 1601 Maryland Ave NE, Washington, D.C.

  • 2220 N Coast Highway, Newport, OR

This is also the fourth Bay Area Safeway to close in just over a year, following earlier shutdowns in San Francisco’s Fillmore district, Pinole, and Vallejo. When multiple stores in the same metro area close in succession, remaining stores absorb more shopper traffic (longer lines, thinner stock) and some pockets of the region end up genuinely underserved.

While these closures may make life harder for many residents who relied on these stores, there is one bright spot in the story. All 76 employees at the Hayward store were transferred to nearby locations rather than laid off, consistent with the union’s collective bargaining agreement, and this pattern has held across most of Safeway’s other closures. Albertsons itself said it works “to place as many associates as possible in other stores.” So while shoppers will need to find a new local grocery, at least Safeway’s workers are being taken care of — something that feels rare in corporate America these days.

Related: Kroger CEO takes a shot at Costco and Aldi

This story was originally published by TheStreet on Aug 11, 2026, where it first appeared in the Retail section. Add TheStreet as a Preferred Source by clicking here.



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Assessing Internet Computer’s 10% rally: Can ICP clear $2.40?

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Assessing Internet Computer’s 10% rally: Can ICP clear $2.40?


Internet Computer [ICP] became one of the market’s top gainers after rising more than 10% over 24 hours.

The rally followed three retests of the $1.98 to $2.10 demand zone. Each retest drew buyers, strengthening the area’s importance.

Trading Volume and derivatives positioning also supported the recovery. However, crowded longs could expose ICP to a sharp pullback.

Is buying pressure building behind ICP?

ICP’s Trading Volume nearly doubled to $84.36 million, according to Santiment data.

The increase accompanied the altcoin’s rally, suggesting stronger market participation. Still, volume alone cannot confirm sustained spot demand.

ICP trading volume
Source: Santiment

Meanwhile, Coinalyze data showed that longs accounted for 67.88% of ICP positions on the daily timeframe. This bullish positioning could support the recovery if spot buyers maintain control. Even so, a long-heavy market may amplify losses during a sudden reversal.

ICP long short ratioICP long short ratio
Source: Coinalyze

Can ICP clear the $2.40 barrier?

On the daily chart, ICP approached resistance near $2.40 after leaving its recent consolidation range. A daily close above that level could strengthen the bullish setup. That move could place the next visible resistance near $2.64 in focus.

The altcoin also traded above its 20-day, 50-day, 100-day, and 200-day EMAs. This alignment suggested that buyers had regained short-term control.

ICP price analysisICP price analysis
Source: TradingView

Could liquidity pull ICP toward $2.60?

The Liquidation Heatmap showed a notable liquidity cluster between $2.60 and $2.70. If ICP breaks $2.40 with sustained momentum, the price could move toward that zone. However, the chart alone did not verify the draft’s $1 million estimate.

ICP liquidation Heat MapsICP liquidation Heat Maps
Source: CoinGlass

Final Summary

  • Internet Computer [ICP] bounced after testing this demand area three times, showing buyers remained active near $2.
  • Long positions accounted for 67.88% of daily ICP exposure, indicating bullish sentiment. However, this could increase liquidation risk if the price falls.



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Brazil’s tokenization push draws in banking heavyweight Itaú

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moneyvests
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Brazil’s tokenization push draws in banking heavyweight Itaú

Brazil’s biggest bank is taking another step into tokenized assets, adding to a growing list of the country’s financial heavyweights experimenting with putting traditional investments on blockchain rails.

Itaú Unibanco has started working with digital-asset infrastructure provider OpenAssets on a tokenization pilot run by Brazilian Financial and Capital Markets Association ANBIMA, the companies said Tuesday.

The project will test how fixed-income securities and investment funds can be issued, traded and settled using distributed-ledger technology, the firms said in a press release. The work will also examine the rules and technical standards needed for banks and asset managers to use such systems.

Itaú’s involvement gives the effort some heft. The São Paulo-based bank is Latin America’s largest lender, with more than $562 billion in total assets, according to S&P Global.

Tokenization has become one of Wall Street’s favorite use cases for blockchain technology, with banks and asset managers experimenting with putting bonds, funds, private credit and equities on digital ledgers. Citi has estimated that tokenized securities could grow into a $5.5 trillion market by 2030 as financial assets will move onto blockchain-based systems.

Brazil’s tokenization push

Brazil has emerged as a key hub for tokenization, with initiatives already stretching well beyond bank-run pilots. In July 2025, Brazilian credit structuring and securitization firm VERT Capital unveiled plans to tokenize as much as $1 billion of debt and receivables on the XDC Network. Brazil-based crypto exchange Mercado Bitcoin also shared plans to tokenize $200 million in assets on the XRP Ledger, including fixed-income and equity instruments.



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Stocks Set for Muted Open as Oil Rises on Hormuz Uncertainty, U.S. Inflation Data Awaited

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Stocks Set for Muted Open as Oil Rises on Hormuz Uncertainty, U.S. Inflation Data Awaited


September S&P 500 E-Mini futures (ESU26) are up +0.02%, and September Nasdaq 100 E-Mini futures (NQU26) are up +0.12% this morning, pointing to a muted open on Wall Street as oil prices rose amid growing doubts that the Strait of Hormuz will reopen anytime soon.

The price of WTI crude rose over +1% on Monday as Iran and Oman remained short of an agreement to reopen the Strait of Hormuz. While Iran said on Sunday that the deal with Oman was in its “final stages,” it reiterated on Monday that the waterway would only reopen once Washington met a series of demands, including lifting its blockade of Iranian shipping and providing compensation for damages. Meanwhile, Houthi militants claimed an attack on a Saudi refinery near the Red Sea. U.S. President Donald Trump, in an interview with Axios on Sunday, indicated the U.S. was prepared to allow economic pressure on Iran to intensify rather than escalate militarily, saying the U.S. was only “semi-negotiating” with Tehran over the Strait of Hormuz.

More News from Barchart

This week, market participants are looking ahead to the release of key U.S. inflation data as well as earnings reports from several high-profile companies.

In Friday’s trading session, Wall Street’s major equity averages ended in the green. Airbnb (ABNB) surged over +17% and was the top percentage gainer on the S&P 500 and Nasdaq 100 after the vacation rental site posted upbeat Q2 results and raised its full-year revenue growth guidance. Also, Microchip Technology (MCHP) climbed more than +13% to lead chipmakers higher after it reported better-than-expected FQ1 results and issued FQ2 guidance that smashed Wall Street’s estimates. In addition, Atlassian Corp. (TEAM) popped over +35% after the collaborative software maker posted stronger-than-expected FQ4 results and issued above-consensus FQ1 revenue guidance. On the bearish side, Trade Desk (TTD) tumbled more than -21% and was the top percentage loser on the S&P 500 after the advertising technology company reported downbeat Q2 results and gave weak Q3 revenue guidance.

The Labor Department’s report released on Friday showed that nonfarm payrolls unexpectedly fell by 23K in July, following a combined downward revision of 103K to the May and June figures. Economists had expected 85K jobs to be added. At the same time, the U.S. July unemployment rate unexpectedly fell to a 13-month low of 4.1%, stronger than expectations of no change at 4.2%. In addition, U.S. July average hourly earnings rose +0.1% m/m and +3.2% y/y, weaker than expectations of +0.3% m/m and +3.5% y/y. Finally, U.S. consumer credit rose by $14.2 billion in June, stronger than expectations of $11.4 billion.

“The latest jobs report was weak enough to take some pressure off the Fed to raise interest rates, but not yet weak enough to signal the economy is falling apart. Inflation remains a concern, but [Friday’s] data may give policymakers more reason to remain patient—and investors more room to lean into risk,” said Bret Kenwell at eToro.

Richmond Fed President Tom Barkin said on Friday that the labor market appears to be in a “weak balance,” continuing the low-hiring environment that has persisted over the past year. Barkin added that he is not seeing wage inflation right now and does not believe the labor market is contributing to price pressures.

Meanwhile, U.S. rate futures have priced in a 56.1% probability of no rate change and a 43.9% chance of a 25-basis-point rate hike at the next FOMC meeting in September.

The U.S. consumer inflation report for July will be the main highlight this week, particularly after the weak jobs report raised questions about the need for a Fed rate hike in the coming months. The June CPI report showed that both headline and underlying inflation eased to their lowest levels in several months, with July’s figures set to be scrutinized for signs that the moderation continues. Headline inflation is forecast to slow to +3.4% y/y in July, while core inflation is expected to ease to +2.5% y/y, marking the smallest increase since February. Readings in line with or below these forecasts would strengthen the case for the Fed to stay on hold. HSBC economists said they expect the CPI report to show “surprising softness across many core categories, leading both headline and core CPI to undershoot consensus expectations.” Additional insight into inflation will come from the U.S. Producer Price Index for July. Other noteworthy data releases include Retail Sales, Core Retail Sales, the University of Michigan’s consumer sentiment index (preliminary), Existing Home Sales, and Initial Jobless Claims.

Market participants will also closely monitor remarks from Fed officials. Cleveland Fed President Beth Hammack and Richmond Fed President Tom Barkin are scheduled to speak this week.

Second-quarter corporate earnings season is approaching the finish line, but several notable companies are due to report this week, including Applied Materials (AMAT), Cisco Systems (CSCO), Super Micro Computer (SMCI), CoreWeave (CRWV), Nebius Group (NBIS), and Coherent (COHR). According to Bloomberg Intelligence, companies in the S&P 500 are expected to post an average +29% jump in quarterly earnings for Q2 compared to the previous year.

The U.S. economic data slate is largely empty on Monday.

In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.66%, up +0.17%.

The Euro Stoxx 50 Index is up +0.26% this morning, hitting a new record high at the start of a data-heavy week. Technology stocks led the gains on Monday, with Infineon Technologies (IFX.D.DX) rising over +3% after the chipmaker announced a time-limited share buyback program. Energy stocks also gained as oil prices rose amid growing doubts that the Strait of Hormuz will reopen anytime soon. At the same time, media stocks underperformed. Data released on Monday showed that the Sentix index measuring investor morale in the Eurozone moved back into positive territory in August and climbed for a fourth straight month, supported by a sharp improvement in current economic conditions and sustained optimism about the recovery. Investor focus this week is on a second estimate of second-quarter Eurozone GDP, which will offer updated insight into the Middle East conflict’s impact on growth. Final inflation data for July from Germany, Italy, Spain, and France, along with Eurozone trade figures for June and preliminary second-quarter employment data, will also attract attention. In addition, Norway’s central bank will announce its monetary policy decision this week. Norges Bank is widely expected to leave borrowing costs unchanged at 4.25%, though investors will look for any clues on the path ahead. In corporate news, Plus500 (PLUS.LN) climbed over +6% after the online-trading platform increased shareholder returns and said it expects its 2026 results to meet current market expectations.

Eurozone’s Sentix Investor Confidence Index was released today.

The Eurozone August Sentix Investor Confidence Index came in at 0.9, stronger than expectations of -0.7.

Asian stock markets today settled in the green. China’s Shanghai Composite Index (SHCOMP) closed up +0.67%, and Japan’s Nikkei 225 Stock Index (NIK) closed up +2.08%.

China’s Shanghai Composite Index closed higher today as soft inflation data bolstered expectations of fresh policy support for the economy. The National Bureau of Statistics said on Sunday that China’s consumer prices rose in July at their slowest pace in six months, while factory-gate inflation cooled for the first time since the Iran war erupted in late February. Both price gauges eased more than expected in July, pointing to weak domestic demand and reflecting the impact of extreme weather and lower oil prices. “Deflation risks in China could be rising again,” according to Citigroup economists. Consumer and real estate stocks advanced on Monday amid expectations of additional stimulus from Beijing. Nanhua Futures said that if July economic indicators weakened broadly, fresh stimulus measures are expected around the end of September. However, the Shanghai Composite Index’s gains were limited by weakness in the tech sector. Elsewhere, AI chip designer Moore Threads Technology plans to list in Hong Kong, as the company seeks to advance its internationalization strategy and strengthen its core competitiveness. In corporate news, Cambricon Technology slumped over -6% after the AI chipmaker reported a sharp slowdown in sequential revenue growth in Q2. Investor attention this week is on China’s money-supply and credit data for July, which will provide further insight into business investment and consumer demand in the world’s second-largest economy. Economists anticipate that credit growth will remain subdued.

The Chinese July CPI fell -0.1% m/m and rose +0.5% y/y, weaker than expectations of +0.2% m/m and +0.8% y/y.

The Chinese July PPI rose +3.5% y/y, weaker than expectations of +3.9% y/y.

Japan’s Nikkei 225 Stock Index closed higher today, tracking Friday’s gains on Wall Street after weak U.S. jobs data reduced expectations for a Fed rate hike. Chip and other AI-related stocks were among the biggest gainers on Monday. Healthcare stocks also climbed, led by a more than +19% jump in Sysmex after the medical diagnostics provider raised its full-year guidance. In addition, industrial stocks advanced. Meanwhile, Japanese government bond yields rose on Monday as investors assessed the likelihood of a Bank of Japan rate hike in September. A summary of opinions from the July BOJ meeting released on Monday showed that an increasing number of policymakers called for stronger action to address mounting inflation risks. At least three of the board’s nine members said the BOJ could accelerate the pace of rate hikes from its current rate of roughly two increases per year. Barclays economists said the BOJ is likely to hike rates in September rather than October, pointing to the hawkish tone of the summary. On the economic front, data showed on Monday that Japan posted a current account deficit in June for the first time in 17 months. Separately, data showed that Japan’s services sector sentiment index climbed to a 5-month high in July, although it remained well below the 50 mark that separates optimism from pessimism. In other corporate news, Recruit Holdings soared over +22% after the technology company boosted its annual guidance. Investor focus this week is on Japan’s PPI data for July, after the gauge accelerated a month earlier to its fastest pace in more than three years. The consensus forecast calls for producer prices to accelerate further in July. This would reflect continued price pressures from elevated energy and import costs, further amplified by a weaker yen, according to Lynn Song at ING. The Nikkei Volatility Index, which takes into account the implied volatility of Nikkei 225 options, closed down -16.37% to 24.99.

The Japanese June Current Account n.s.a. stood at -0.092 trillion yen, weaker than expectations of 1.512 trillion yen.

The Japanese July Economy Watchers Current Index came in at 45.7, stronger than expectations of 44.6.

Pre-Market U.S. Stock Movers

Most members of the Magnificent Seven edged higher in pre-market trading, with Meta Platforms (META) rising over +2% after it unveiled a new AI model lightweight enough to run on a single computer.

Chip stocks advanced in pre-market trading, with Marvell Technology (MRVL) rising about +2% and Intel (INTC) gaining more than +1%.

Hewlett Packard Enterprise (HPE) climbed over +5% in pre-market trading after Morgan Stanley upgraded the stock to Overweight from Equal Weight with a price target of $69.

Critical-mineral stocks surged in pre-market trading after the White House announced more than $2 billion in new mining and mining-related investments. 5E Advanced Materials (FEAM) was up over +26%, Standard Lithium (SLI) was up more than +14%, and American Resources (AREC) was up over +5%.

Apple (AAPL) fell more than -1% in pre-market trading after The Wall Street Journal reported that the iPhone maker was testing memory chips from China’s ChangXin Memory Technologies. Also, Jefferies downgraded the stock to Underperform from Hold with a price target of $263.66.

You can see more pre-market stock movers here

Today’s U.S. Earnings Spotlight: Monday – August 10th

Simon Property Group (SPG), Barrick Mining (B), Ferguson Enterprises (FERG), Rocket Lab (RKLB), AST SpaceMobile (ASTS), BridgeBio Pharma (BBIO), Axsome Therapeutics (AXSM), AECOM (ACM), AAON (AAON), Hims & Hers Health (HIMS), Life360 (LIF), USA Rare Earth (USAR), California Resources (CRC), International Seaways (INSW), Archer Aviation (ACHR), CECO Environmental (CECO), National Health Investors (NHI), NIQ Global Intelligence (NIQ), Brookdale Senior Living (BKD), Plug Power (PLUG), EagleRock Land, LLC (EROK), Trump Media & Technology Group (DJT), Medical Properties Trust (MPT), Helios Technologies (HLIO), GCM Grosvenor (GCMG), RUM Group (RUM), SELLAS Life Sciences Group (SLS), Keel Infrastructure (KEEL), Quantum Computing (QUBT), Surgery Partners (SGRY), Alamar Biosciences (ALMR), Sonida Senior Living (SNDA), Damora Therapeutics (DMRA), Septerna (SEPN), Target Hospitality (TH), Harrow (HROW), Permian Basin Royalty Trust (PBT), ArriVent BioPharma (AVBP), Babcock & Wilcox Enterprises (BW), ACV Auctions (ACVA), Lincoln Educational Services (LINC), Sharplink (SBET), WEBTOON Entertainment (WBTN), Upwork (UPWK), Entravision Communications (EVC), CEVA (CEVA), Sana Biotechnology (SANA), Replimune Group (REPL), Kayne Anderson BDC (KBDC), N-able (NABL), American Public Education (APEI), Red Violet (RDVT), HighPeak Energy (HPK), Aura Biosciences (AURA), JBG SMITH Properties (JBGS), Viant Technology (DSP), Bain Capital Specialty Finance (BCSF), Compass Diversified (CODI), Infinity Natural Resources (INR), OppFi (OPFI), Rapid7 (RPD), PennantPark Floating Rate Capital (PFLT), CeriBell (CBLL), Hallador Energy Company (HNRG), Immix Biopharma (IMMX), Tactile Systems Technology (TCMD), Cannae Holdings (CNNE), iHeartMedia (IHRT).

On the date of publication, Oleksandr Pylypenko did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com



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Trump Reportedly Seeks New Charges Against Ex-Olympian David Hearn

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Trump Reportedly Seeks New Charges Against Ex-Olympian David Hearn


Topline

The White House is seeking new charges against former Olympian David Hearn, according to The Wall Street Journal, asking the Justice Department to consider a new prosecution against him after U.S. Attorney for the District of Columbia Jeanine Pirro dropped the case against Hearn this month and provoked President Donald Trump’s ire.

Key Facts

The White House’s request comes after Pirro found the evidence given to her office significantly undermined “the evidentiary basis for the indictment,” primarily blaming the Reflecting Pool’s loose sealant on “a rushed and flawed installation process.”

Forbes has reached out to the White House for comment.

This is a developing story. Check back for updates.



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