Latest news with #asset
Yahoo
16 hours ago
- Business
- Yahoo
Why Trump Media Stock Crashed This Week
The company announced it is raising $2.5 billion to purchase Bitcoin. Institutional investors will receive $1.5 billion in common stock as well as $1 billion in convertible notes. 10 stocks we like better than Trump Media & Technology Group › Shares of Trump Media & Technology Group (NASDAQ: DJT) are falling this week. The company's stock had plummeted 16.7% at 2:16 p.m. ET. The fall comes as the S&P 500 index has risen 1.4% and the Nasdaq-100 index has risen 1.1%. Trump Media announced on Tuesday that it is pursuing a new strategy of Bitcoin accumulation. The company is raising $2.5 billion in a private deal to create what will be the largest Bitcoin reserve held by a private company. Following in the footsteps of Michael Saylor's Strategy, Trump Media is betting a massive reserve of Bitcoin will drive future value. The company announced it is raising $2.5 billion through a private placement in exchange for $1.5 billion in common stock and $1 billion in convertible notes. The proceeds will go to purchasing Bitcoin, which the company will then hold as a core Treasury asset. Custodial services will be provided by Anchorage Digital and The announcement was made as the Bitcoin 2025 Conference kicked off in Las Vegas. CEO Devin Nunes pitched the move not just as a way to drive value, but as a political one, saying that holding Bitcoin is a hedge against "financial discrimination" and calling it "the apex instrument of financial freedom." Trump Media has a market cap of nearly $5 billion, despite sales last quarter of just $820,200. It is operating deep in the red with no clear path to profitability or sales growth. This stock is built almost entirely on hype, in my opinion, and investors would do well to stay away. Trump Media wasn't a good investment before today's announcement, and it is not one now, as the deal will likely dilute existing shareholders' portfolios. Before you buy stock in Trump Media & Technology Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Trump Media & Technology Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $638,985!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $853,108!* Now, it's worth noting Stock Advisor's total average return is 978% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Trump Media Stock Crashed This Week was originally published by The Motley Fool
Coin Geek
a day ago
- Business
- Coin Geek
US bill elevates CFTC, but no one works there anymore
Getting your Trinity Audio player ready... America's plan for a digital asset market structure regulatory framework envisions a major role for a regulator that's having serious trouble staffing its upper echelons. On Wednesday, United States Vice-President J.D. Vance gave the keynote address on day two of the BTC 2025 conference in Las Vegas. Vance addressed a number of subjects, including his belief that Congress needs to pass digital asset market structure legislation and get a finished bill on President Trump's desk for signing into law ASAP. The following day, the House of Representatives Financial Services Committee (FSC) issued their new digital asset market structure bill, which they've christened the Digital Asset Market Clarity (CLARITY) Act. (Section-by-section summary here.) The bill is an updated version of the FIT21 bill that the House passed last year but wasn't addressed by the Senate before Congress adjourned for the 2024 federal election. In announcing the bill, FSC chair French Hill (R-AR) offered the necessary homilies to consumer protection, regulatory clarity, and 'American innovation.' CLARITY is billed as having bipartisan support, citing Democrat co-sponsors Warren Davidson (R-OH), Angie Craig (D-MN), Ritchie Torres (D-NY), and Don Davis (D-NC). CoinGeek's intrepid James Field will be along any moment now with a deeper dive into CLARITY's nuts and bolts, but as with FIT21, CLARITY establishes the Commodity Futures Trading Commission (CFTC) as the primary regulator of digital assets that aren't considered securities. So, basically all digital assets, given the Securities and Exchange Commission (SEC) doesn't believe any digital assets are securities. To underscore that systematic disengagement, the SEC announced on May 29 that it wasn't interested in regulating 'protocol staking activities,' because someone somewhere will presumably ensure these activities are conducted fairly. (The sole remaining Democrat commissioner at the SEC believes the regulator is doing 'more harm than good by purporting to carve out broad categories of crypto products without analyzing the realities of how they really work.') CLARITY does envision the SEC having anti-fraud authority over stablecoins that are allowed to operate under the new rules proposed by bills in the Senate (GENIUS) and House (STABLE). The SEC will also take point on digital asset activity by 'SEC-registered broker-dealers and national securities exchanges where such registrants are exempt from registration with the CFTC.' However, the SEC is not allowed to touch 'certain decentralized finance activities related to the operation and maintenance of blockchain networks.' These activities include 'validating or providing incidental services with respect to a digital asset, providing user-interfaces for a blockchain network, publishing and updating software, or developing wallets for blockchain networks.' That will likely come as a relief to the SEC, as it will spare staff from having to craft a separate press release denying any responsibility for overseeing DeFi activities. If you want to get ahead of next week's disavowal, a lobby group just asked the SEC to ignore decentralized autonomous organizations (DAOs), so 5…4…3…2…1… CFTC exodus leaves no one manning the gates Looking to the CFTC to shoulder the regulatory burden is complicated by the fact that nobody seems to want to serve as a CFTC commissioner anymore. Incoming Chairman Brian Quintenz has yet to be confirmed by the Senate, but when he finally takes his seat in the corner office, he'll find himself staring at a lot of empty chairs where commissioners usually sit. This will be the last week on the job for commissioners Summer Mersinger and Christy Goldsmith Romero, while Caroline Pham has announced her plan to depart once Quintenz is confirmed. Kristin Johnson is also headed for the exits, although she promised to stay until 'later this year,' likely just long enough for her replacement to be nominated and confirmed. With former Chair Rostin Behnam having resigned on January 20, Quintenz will have the CFTC all to himself, at least, until Trump gets around to nominating new commissioners. It's a good thing that CLARITY gives the CFTC/SEC a 360-day window following passage in which to figure out who's looking after what. (In the interim? Crypto Thunderdome, apparently.) Despite having pulled her own ripcord, Romero appeared a little uneasy over the mass exodus at a Brookings Institution event this week. 'What happens if the CFTC gets down to one and gets new authority for crypto? It's going to be really, really hard, right? You're not going to have the same push and pull … I worry about that at the CFTC, and I worry about that at other agencies as well.' As befitting America's public-private revolving door, Mersinger is leaving to become CEO of the Blockchain Association industry lobbying group. Pham is also returning to the private sector, although she said didn't 'have any specific plans' to announce. Back to the top ↑ Will Trump's crypto ventures thwart legislative progress? Vance's Vegas speech expressed optimism that the Senate could 'move quickly on passing a clean GENIUS Act and for the House to follow-up and do the same.' The 'clean' reference reflects the hope that when the Senate brings GENIUS to the floor for debate (likely next week), it will largely ignore the 53 proposed amendments to its text. As for Vance's urging of Congress to act with similar haste to bring a finished market structure bill to Trump's desk, concerns are mounting that the president's seemingly endless list of self-interested crypto ventures could discourage support for legislatively blessing these money-making moves after the fact. While the crypto sector and pro-crypto pols previously suggested that both stablecoin and market structure legislation could be on Trump's desk by Labor Day, the rising outrage over Trump's increasingly brazen crypto cash grabs could complicate that timeline. One unnamed 'crypto executive' told Politico this week that these concerns could mean market structure legislation 'won't move forward until after the midterm elections next year.' Speaking of, Rep. Jamie Raskin (D-MD) announced Wednesday that he'd launched a probe into Trump's recent dinner at his Virginia golf club for the top 220 holders of his $TRUMP memecoin. The Washington Post reported that Raskin's probe is focused on who paid big bucks to breathe the same air as Trump, even though reports suggest that nobody in attendance got much in the way of Trump facetime. Raskin believes that publicly releasing the list of Trump's deep-pocketed dinner guests will 'let the American people know who is putting tens of millions of dollars into our President's pocket so we can start to figure out what—beyond virtually worthless memecoins—they are getting in exchange for all this money.' As with similar Democrat-led probes by the likes of Sen. Richard Blumenthal (D-CT), Dems lack the votes to progress these probes beyond the press release stage. Until their Republican colleagues relocate their lost capacity for outrage, these efforts are purely performative. Back to the top ↑ Tokenized retirement? Meanwhile, the Trump administration continues to expunge any and all Biden-era rules and regs that might impede 'number go up.' On May 28, the Department of Labor's Employee Benefits Security Administration formally rescinded Biden-era guidance that has deterred employers from including digital assets in their employees' 401(k) retirement plans. The guidance in question was issued in March 2022 and urged 401(k) plan sponsors to exercise 'extreme care' before including digital assets alongside more traditional financial investment options. The new guidance neither endorses nor disapproves of tokens in 401(k) plans, just reaffirms the department's 'neutral stance.' Secretary of Labor Lori Chavez-DeRemer said the Biden administration 'made a choice to put their thumb on the scale,' but the new sheriffs in town are 'rolling back this overreach and making it clear that investment decisions should be made by fiduciaries, not D.C. bureaucrats.' There was nearly $9 trillion dollars held in 401(k) accounts at the end of 2024, with over one-third of Americans contributing to the plans. The ongoing upheaval in the stock market due to Trump's on-again/off-again tariffs has many contributors looking at alternative investment options, although prominent tokens like BTC haven't been spared this volatility. For what it's worth, the fact that BTC has fallen 5% this week—during the year's biggest pro-BTC event, and despite announcements by multiple new entrants launching BTC 'treasury' strategies that will see them spending billions of dollars acquiring tokens—should give any 401(k) manager pause regarding the wisdom of injecting additional volatility into workers' retirement schemes. Back to the top ↑ Saylor told Trumps to mortgage Mar-a-Lago and buy BTC Among the entities announcing new BTC treasury strategies this week was Trump Media and Technology Group (TMTG), the parent company of the Truth Social platform. TMTG is raising $2.5 billion to buy BTC, swiftly elevating itself to the upper tier of companies that have gone down this road. Day 2 of the BTC Vegas shindig saw the president's sons, Donald Jr. and Eric Trump take the stage to discuss TMTG's BTC buying plans, including the revelation that they were both egged on and inspired by Michael Saylor, founder of Strategy (formerly MicroStrategy) (NASDAQ: MSTR). Strategy bought another 4,020 BTC on Monday, boosting its treasury to 580,250 tokens, and almost immediately announced plans to raise even more debt to buy even more BTC. Strategy's strategy has been mimicked by a growing number of firms, including former meme-stock GameStop (NASDAQ: GME), which announced Wednesday that it had spent $512 million buying 4,710 BTC as the first step in launching its own BTC treasury. Eric Trump told the Vegas audience that Saylor had long been urging the Trump family to 'do what I'm doing,' going as far as to suggest they mortgage Trump's Mar-a-Lago estate in Florida. (To be fair, Saylor has been telling everyone to mortgage their homes to buy BTC since 2021.) Trump opted instead to use TMTG to make his BTC bet, but so far, the market's reaction has been anything but positive. TMTG's DJT stock briefly spiked in the wake of its BTC announcement but has since fallen below $21, a low it hasn't touched since early April. This is by no means an isolated incident. GameStop's shares surged to nearly $37 in the wake of its BTC announcement but closed Thursday below $30. Like Strategy and its clones MetaPlanet, Twenty-One Capital, and others, there's little in the way of fundamentals behind these companies, rendering them slaves to BTC's random surges and plunges. In TMTG's case, the company's high profile belies a nonexistent business model, with revenue in the first three months of 2025 failing to surpass $1 million. The company's share price values the company at a multiple of 1,800x its annual revenue, meaning if it wasn't attached to the President of the United States, it would have been taken out behind the barn and put out of its misery ages ago. But that was yesterday, and Toto, I don't think we're in Kansas anymore. Back to the top ↑ Watch: Teranode is the digital backbone of Bitcoin title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Yahoo
a day ago
- Business
- Yahoo
Schroders chair Corley to join board of London Stock Exchange-owner
Dame Elizabeth Corley, the chair of asset management giant Schroders, is joining the board of London Stock Exchange Group (LSEG) - a move which puts her in a strong position to take the helm there in the coming years. Sky News has learnt that LSEG plans to announce later on Friday that Dame Elizabeth will become a non-executive director of the company. While there is no process underway to find a successor to Don Robert, who has chaired LSEG since May 2019, people close to the exchange-owner speculated that she would be an obvious candidate to do so. Money blog: Glastonbury fan to miss out despite spending more than £16,500 on stay One fund manager also suggested that her dual roles on the boards of Schroders and LSEG could raise questions about potential conflicts of interest given that Schroders is itself listed on the LSE and is a significant user of its services. That idea was rejected by insiders at LSEG on Friday morning. The issue of leadership succession at LSEG is coming into sharper focus for investors because David Schwimmer, its chief executive, has led the company since 2018. Leading shareholders are likely to prefer the appointment of a new chair ahead of Mr Schwimmer's eventual departure. LSEG now has a market capitalisation of over £60bn, with the London bourse representing only a small proportion of its income. The exchange is facing searching questions about its ability to attract new flotation candidates, with those doubts likely to be exacerbated by this week's reports that Shein, the Chinese-founded online fashion giant, is switching its focus to a listing in Hong Kong. LSEG declined to comment.
Barnama
a day ago
- Business
- Barnama
- Malaysia's Commitment to Fighting Corruption Through UNCAC
Opinions on topical issues from thought leaders, columnists and editors. The second cycle (2015–2019), conducted by Timor-Leste and Eswatini, focused on Chapter II (Preventive Measures) and Chapter V (Asset Recovery). Under UNCAC's Implementation Review Mechanism (IRM), Malaysia completed two cycles of peer review. In the first cycle (2012–2013), the Philippines and Kenya reviewed Malaysia's compliance with Chapter III (Criminalisation and Law Enforcement) and Chapter IV (International Cooperation). Malaysia signed the United Nations Convention Against Corruption (UNCAC) on 9 December 2003 and ratified it on 24 September 2008. This important decision marked a new chapter in Malaysia's efforts to fight corruption. Since then, Malaysia has introduced significant reforms and implemented measures aligned with international standards as required by UNCAC. The reviews also identified 35 good practices, highlighting Malaysia's notable progress and adherence to UNCAC's standards: From these reviews, Malaysia received 22 recommendations aimed at strengthening its legal framework, institutions, and processes in areas of prevention, criminalisation, international cooperation, and asset recovery. Malaysia in UNCAC review mechanism Malaysia actively participates as a reviewer in the UNCAC review mechanism. In 2019, Malaysia and Burkina Faso jointly reviewed Palestine, with Malaysia reviewing Chapter V (Asset Recovery) and Burkina Faso reviewing Chapter II (Preventive Measures). In 2020, Malaysia partnered with North Macedonia to review Georgia, where Malaysia assessed Chapter V (Asset Recovery), and North Macedonia reviewed Chapter II (Preventive Measures). Currently, Malaysia is working alongside Argentina to review Vanuatu. Malaysia, having previously reviewed Chapter V (Asset Recovery), is now reviewing Chapter II (Preventive Measures), while Argentina reviews Chapter IV. These collaborative efforts demonstrate Malaysia's ongoing commitment to international cooperation in fighting corruption. Active participation of MACC in UNCAC platforms The Malaysian Anti-Corruption Commission (MACC) is Malaysia's focal agency for UNCAC matters. MACC actively participates in international UNCAC platforms such as the Open-ended Intergovernmental Working Groups on Asset Recovery and Prevention of Corruption, the Implementation Review Group (IRG), and the Conference of the States Parties (CoSP). Furthermore, MACC officers regularly serve as speakers and panellists and frequently make interventions on thematic topics discussed during these meetings, showcasing Malaysia's strong presence and contributions in global anti-corruption discussions. From these reviews, Malaysia received 22 recommendations aimed at strengthening its legal framework, institutions, and processes relating to preventive measures, criminalisation, international cooperation, and asset recovery (Malaysian Anti-Corruption Commission, 2025). Some specific recommendations highlighted by UNCAC reviewers, on which Malaysia has already taken concrete steps, include adopting a coordinated national anti-corruption strategy, enhancing the independence of anti-corruption authorities, and strengthening corporate accountability. In response to these recommendations, Malaysia launched the National Anti-Corruption Plan (NACP) 2019 – 2023 in line with UNCAC Article 5. This comprehensive plan focused on reducing corruption risks in critical sectors such as political governance, public procurement, corporate governance, law enforcement, and judicial integrity. National Anti-Corruption Strategy Building on this initiative, Prime Minister Datuk Seri Anwar Ibrahim has introduced the National Anti-Corruption Strategy (NACS) 2024–2028, whereby the NACS sets out five strategies and 60 sub-strategies to be carried out over its five-year duration on education, public accountability, the people's voice, enforcement, and incentives. Under UNCAC Article 6, Malaysia is revising the requirements for appointing and dismissing of the MACC Chief Commissioner, ensuring greater independence and transparency in the perception of this crucial role. Additionally, efforts are underway to propose a MACC Service Commission to provide MACC with enhanced independence and operational autonomy, including oversight over personnel matters. On criminalisation and law enforcement (UNCAC Chapter III), Malaysia amended the MACC Act 2009 by introducing corporate liability provisions (Section 17A), effective June 2020. This provision makes corporations accountable for corruption offences committed by their employees or associated individuals, aligning national legislation with UNCAC Article 26 on liability of legal persons. Throughout these reform initiatives, Malaysia prioritises inclusive engagement, involving government agencies, members of Parliament, civil society organisations, academic institutions, and international stakeholders. This collaborative approach ensures reforms are practical, widely supported, and aligned with both national priorities and UNCAC standards. As Malaysia advances on its anti-corruption journey, the sustained implementation of UNCAC recommendations and active engagement on the international stage reflect a clear commitment to integrity and reform. While challenges remain, the tangible progress achieved lays a solid foundation for continued improvement. By maintaining momentum, strengthening institutional frameworks, and fostering a culture of transparency and public accountability, Malaysia has the potential to emerge as a regional and global leader in anti-corruption efforts – setting a compelling example of how consistent, principle-based action can drive lasting change. -- BERNAMA Rasidah Abdul Karim is Director of the Policy, Planning and Research Division (BDPP) at the Malaysian Anti-Corruption Commission (MACC).
Business Upturn
2 days ago
- Business
- Business Upturn
Bowen Acquisition Corp Receives NASDAQ Notification of Non-Compliance with Listing Rules
New York, NY, May 29, 2025 (GLOBE NEWSWIRE) — Bowen Acquisition Corp (NASDAQ: BOWN) ('BOWN'), a special purpose acquisition company, announced that on May 28, 2025, it received a letter from the Listing Qualifications Department of the Nasdaq Stock Market ('NASDAQ') advising the Company that the Company does not comply with NASDAQ's Listing Rule 5250(c)(1) for continued listing because NASDAQ has not received the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2025 (the 'Form 10-Q'). NASDAQ has informed the Company that it has until July 28, 2025 to submit a plan to regain compliance with respect to this delinquent report. If NASDAQ approves the Company's plan, it has the discretion to grant the Company an extension of up to 180 calendar days from the due date of the Form 10-Q (or until November 17, 2025) to regain compliance. The Company is working diligently to complete the Form 10-Q. If the Company is unable to file the Form 10-Q by July 28, 2025, it intends to file a plan to regain compliance with NASDAQ. This notification has no immediate effect on the listing of the Company's securities on NASDAQ. There can be no assurance, however, that the Company will be able to regain compliance with the listing requirements discussed above or otherwise satisfy the other NASDAQ listing criteria. About Bowen Acquisition Corp Bowen Acquisition Corp is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As previously disclosed, Bowen has entered into a definitive agreement for a business combination with Shenzhen Qianzhi BioTechnology Co., Ltd. Forward Looking Statements This press release includes certain 'forward-looking' statements, as that term is defined under the federal securities laws. Actual results may differ from expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements generally are identified by the words or phrases such as 'aspire,' 'expect,' 'estimate,' 'project,' 'budget,' 'forecast,' 'anticipate,' 'intend,' 'plan,' 'may,' 'will,' 'will be,' 'will continue,' 'will likely result,' 'could,' 'should,' 'believe(s),' 'predicts,' 'potential,' 'continue,' 'future,' 'opportunity,' seek,' 'intend,' 'strategy,' or the negative version of those words or phrases or similar expressions are intended to identify such forward-looking statements. You should not place undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date hereof, and, except as required by law, the Company assumes no obligation and does not intend to update any forward-looking statement to reflect events or circumstances after the date hereof. For investor and media inquiries, please contact: Jiangang LuoChief Executive Officer [email protected]
