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Ether Machine, backed by crypto giants, set to raise over $1.6 billion in Nasdaq debut
Ether Machine, backed by crypto giants, set to raise over $1.6 billion in Nasdaq debut

The Star

time2 days ago

  • Business
  • The Star

Ether Machine, backed by crypto giants, set to raise over $1.6 billion in Nasdaq debut

FILE PHOTO: The Nasdaq logo is displayed at the Nasdaq stock market site in New York City, U.S., July 16, 2025. REUTERS/Kylie Cooper/File photo (Reuters) -The Ether Reserve, a new crypto venture backed by prominent crypto investors, will list on the Nasdaq through a merger with blank-check firm Dynamix Corporation and is expected to raise over $1.6 billion. The combined entity, to be named The Ether Machine, aims to launch with more than 400,000 Ether on its balance sheet, positioning it as the largest public vehicle for institutional exposure to the world's second-largest cryptocurrency.

Waymo expands coverage in Austin, Texas, as robotaxi competition heats up
Waymo expands coverage in Austin, Texas, as robotaxi competition heats up

The Star

time6 days ago

  • Automotive
  • The Star

Waymo expands coverage in Austin, Texas, as robotaxi competition heats up

FILE PHOTO: A self-driving Waymo car drives through Los Angeles, California, U.S., May 12, 2025. REUTERS/Kylie Cooper/File Photo (Reuters) -Alphabet's Waymo is expanding its service in Austin, Texas, to 90 square miles from 37 square miles earlier, the software giant's self-driving unit said on Thursday, seeking to protect its top position in the city from rivals such as Tesla. Waymo, which has over 100 vehicles on the Uber platform in Austin, will now cover new neighborhoods such as Crestview, Windsor Park, Sunset Valley and Franklin Park, the company said. After cautiously expanding its self-driving taxi services across the U.S. for years, Waymo is now largely seen as the frontrunner in the space. It has about 1,500 vehicles across San Francisco and other Bay Area cities, Los Angeles, Phoenix, Atlanta and others. Rival Tesla is looking to catch up, having conducted a small trial last month of about a dozen of its Model Y SUVs in a limited area of Austin. But Tesla still faces a steep challenge to commercialize this technology on a large scale and clear regulatory hurdles. The automaker also does not use sensors such as radar and lidar like Waymo and most rivals; instead, it depends solely on cameras and artificial intelligence. "Austin remains one of the fastest growing cities in the country, and we are doing our part to grow with it," Shweta Shrivastava, the senior director of product management at Waymo, said. Earlier this week, Waymo's vehicles logged a milestone of 100 million miles driven without a human behind the wheel, doubling its mileage in about six months. (Reporting by Zaheer Kachwala in Bengaluru; Editing by Sahal Muhammed)

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