Latest news with #MattCole
Yahoo
4 days ago
- Business
- Yahoo
95% of Meta shareholders want nothing to do with a Bitcoin Treasury
95% of Meta shareholders want nothing to do with a Bitcoin Treasury originally appeared on TheStreet. At Meta Platforms' annual shareholder meeting on May 30, shareholders overwhelmingly opposed a proposal to add Bitcoin to the platform's balance sheet, a trend that has gained prevalence in recent months. Shareholder Proposal 13, made by investor Ethan Peck representing the National Center for Public Policy Research, included a recommendation to convert some of the company's $72 billion in cash and marketable securities into Bitcoin as an inflation hedge and due to the lower yields in bonds. However, the vote tally showed that 4,980,828,562 shares (around 95%) were cast against the proposal, with only 3,916,871 cast in favor of it. Additionally, 8,857,588 shares were abstained from, and 204,772,865 were counted as broker non-votes. "While we are not opining on the merits of cryptocurrency investments compared to other assets, we believe the requested assessment is unnecessary," stated Meta's board. According to Bitcoin News, at Bitcoin 2025, Matt Cole, CEO of Strive Asset Management, stated, "You have already done step one. You have named your goat Bitcoin," he said. "My ask is that you take step two and adopt a bold corporate bitcoin treasury strategy," addressing Meta CEO Mark Zuckerberg. Meta's announcement falls in line with what other tech giants, most notably Microsoft and Amazon, have already done by rejecting any requests to add Bitcoin to their treasury reserves. However, Meta has begun to re-enter the cryptocurrency market, with research into integrating stablecoins like USDC and USDT into its platforms for content creator payments and cross-border transactions, according to Forbes. However, Andy Stone, Meta Communications Director, posted on X saying, "To be clear: as Mark said (and as the story notes), Diem is 'dead." There is no Meta stablecoin," while referring to the Libra Association, which was trying to create a stablecoin-like payments system back in 2019. At press time, Meta's stock is trading at $668.17, up over 3.19% in the last 24 hours. 95% of Meta shareholders want nothing to do with a Bitcoin Treasury first appeared on TheStreet on Jun 2, 2025 This story was originally reported by TheStreet on Jun 2, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
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Vivek Ramaswamy's Strive Secures $750M To Kick Off Bitcoin Treasury Business
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Strive Asset Management and Asset Entities have unveiled their first capital raise to get the ball rolling on their Bitcoin treasury business. Strive intends to differentiate itself in the Bitcoin treasury space with alpha-generating strategies. Asset Entities stock is up over 1,000% since the firm announced a merger with Strive. The rush on Bitcoin by corporations is showing no signs of slowing. Among the latest firms to jump on the bandwagon is Strive Asset Management, the financial services firm co-founded by billionaire and former presidential candidate Vivek Ramaswamy. Roughly three weeks after announcing a merger with Asset Entities (NASDAQ:ASST) that would see the combined company form a public Bitcoin treasury venture, Strive has unveiled its first capital raise to get the ball rolling on the business. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Strive and Asset Entities said on Tuesday that they had secured $750 million through a private investment in public equity to fund their first round of Bitcoin purchases. They said that the transaction included warrants that could allow for an additional $750 million in financing, potentially increasing the proceeds to $1.5 billion. If all warrants are exercised, the firm could launch with the fifth largest Bitcoin holdings among public firms, according to The modus operandi for Bitcoin treasury firms has so far been to raise capital through some form of low-interest debt or equity offering to purchase Bitcoin at market price, yielding returns for shareholders when the asset rises. Strive intends to do this while leveraging its asset management expertise to incorporate alpha-generating strategies that aim to outperform Bitcoin. Trending: New to crypto? on Coinbase. The alpha-generating strategies that have been outlined by Strive include acquiring biotechnology firms trading below their cash balance to unlock discounted cash, acquiring distressed Bitcoin claims and purchasing bottom tranches of structured Bitcoin credit vehicles. The firm already has the ball rolling on at least one of these efforts. It said last week that it was considering the purchase of 75,000 BTC worth of distressed claims tied to the defunct Mt. Gox exchange. Using these strategies, Strive intends to acquire Bitcoin at a significant discount to market value. Strive CEO Matt Cole said Tuesday at Bitcoin 2025 that this will enable the firm to outperform Bitcoin, regardless of whether its value increases or decreases. 'We're alpha seekers. And when you think about how to value a company that's doing both Bitcoin accumulation through beta strategies that accrue value to common equity shareholders and alpha, you have to think about the valuation framework differently. And our belief is that it should be higher,' Cole said, arguing that Strive deserved a higher valuation to net asset value than the competition. Asset Entities stock is up over 1,000% since the firm announced a merger with Strive. On the day, however, the stock price fell over 12% during normal trading hours but gained 4% after hours. Meanwhile, Bitcoin is trading near $108,000 at last look, up 13% in the past month but down 1.2% on the day. Read Next: A must-have for all crypto enthusiasts: . Hasbro, MGM, and Skechers trust this AI marketing firm — Image: Shutterstock Send To MSN: 0 This article Vivek Ramaswamy's Strive Secures $750M To Kick Off Bitcoin Treasury Business originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
Asset Entities signs $750M PIPE to fund Bitcoin acquisitions
Strive Asset Management and Asset Entities (ASST) announced the signing of a $750M private investment in public equity, with an additional $750M in potential financing available upon the exercise of warrants, which could increase total potential proceeds to $1.5B. Upon closing of the transactions, the proceeds are expected to support the company's first wave of Bitcoin acquisitions, with the goal of establishing Strive Asset Management as the first Bitcoin treasury company focused on long-term Bitcoin outperformance through the implementation of alpha-generating strategies, in addition to the company's plans to implement known beta strategies used by incumbent Bitcoin treasury corporations. A select group of leading institutional investors and Strive's management team, including CEO Matt Cole, participated in the financing, which is expected to close concurrently with the transaction under the merger agreement between Strive Asset Management and Asset Entities. The PIPE investment was priced at $1.35 per share of common stock, representing a 121% premium to the closing price of Asset Entities immediately before its merger announcement with Strive Asset Management. The exercise price for warrants in this PIPE transaction is $1.35 per share. Strive elected not to raise any debt financing in this transaction, to preserve maximal leverage capacity in the future to optimize returns for common equity. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on ASST: Disclaimer & DisclosureReport an Issue Asset Entities, Strive Asset Management announces $750M PIPE Asset Entities Regains Nasdaq Compliance as of May 2025 Asset Entities Inc trading resumes Asset Entities Inc trading halted, volatility trading pause Asset Entities Stock (ASST) Skyrockets 455.7% as It Merges with Strive for Bitcoin Power Play Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Strive Closes $750M Investment Deal to Power 'Alpha-Generating' Bitcoin Strategy
Strive closed a $750 million private investment in public equity (PIPE) round, with an option to increase the financing by another $750 million if the warrants are exercised. This capital will fund Strive's initial wave of bitcoin BTC buys as the firm builds its bitcoin treasury. The Vivek Ramaswamy-founded firm will deploy alpha-generating strategies aimed at outperforming bitcoin. CEO Matt Cole emphasized that Strive's approach demands a new valuation framework. This strategy is driven by acquisitions of undervalued biotech firms, distressed bitcoin claims—including Mt. Gox claims via a partnership with 117 Partners LLC—and discounted tranches of structured bitcoin credit. Last week, the firm said it is eyeing $7.9 billion worth of Mt. Gox bitcoin claims as it looks to build its bitcoin treasury and go public via a merger with Asset Entities (ASST).The PIPE was priced at $1.35 per share, a 121% premium over ASST's pre-announcement closing price, and carries no debt financing to preserve future leverage capacity. Cole is set to present these strategies at the bitcoin for Corporations Symposium in Las Vegas. Cantor Fitzgerald & Co. served as exclusive financial advisor and placement agent, with legal counsel provided by Davis Polk, DLA Piper, and Bevilacqua in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
See - Sada Elbalad
27-05-2025
- See - Sada Elbalad
53-Year-Old Man Arrested After Car Ploughs Through Crowds at Liverpool Victory Parade
Rana Atef A 53-year-old man has been arrested after a car drove into crowds of Liverpool fans during the Premier League victory parade, leaving multiple people injured. The incident occurred just after 6 pm on Water Street, close to the parade route where thousands had gathered to celebrate Liverpool FC's league title. Video footage shared on social media showed the car moving through the dense crowd as people scream. Moments later, the vehicle came to a stop, with witnesses reporting that angry bystanders surrounded it and began striking it. The car's rear windscreen was visibly shattered. Emergency services responded swiftly. According to Merseyside Police, the vehicle remained at the scene, and the male driver—identified as a 53-year-old white British man from the Liverpool area—was taken into custody. Police have confirmed they are not treating the incident as terror-related. In total, 27 people were taken to hospital, including a child and an adult who sustained serious injuries. Another 20 people received treatment at the scene. Among the injured were four children. Fire crews had to rescue four individuals, including a child, from underneath the vehicle. Eyewitness accounts describe a chaotic and terrifying scene. BBC reporter Matt Cole, who was present, said the car "just wasn't stopping" as it travelled at more than 20 mph through the crowd, with some trying to halt it by banging on the sides and throwing objects. Another witness, Matthew O'Carroll, said the driver was beeping as he moved through the crowd at a 'decent' speed. Water Street, the site of the incident, lies near The Strand and was part of the route taken by Liverpool FC's open-top bus tour, which had passed the area shortly before the collision. The club has since suspended internal celebrations. Prime Minister Sir Keir Starmer posted on social media: 'The scenes in Liverpool are appalling – my thoughts are with all those injured or affected.' He also thanked emergency responders for their swift action. Liverpool FC and Everton FC issued statements expressing support for those affected, and the Premier League echoed their sentiments, calling the event 'appalling' and offering assistance to the club and authorities. Liverpool City Region Mayor Steve Rotheram said a day that was meant to be about 'absolute celebration' had been tragically overshadowed. He urged the public not to speculate as investigations continue. Merseyside Police have asked anyone with video footage or information to come forward as they piece together exactly what happened. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
