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Stay up to date on the latest crypto trends with our expert, in-depth coverage.
Retail investors are easing back into crypto while VC funding rises for first time in 1.5 years
While retail crypto traders want to get on the bullish bandwagon, the series of exchange bankruptcies in 2022 has taught them to be cautious.
Crypto Slate·2024/02/19 08:31
Cathie Wood's ARK Invest sells Coinbase shares worth $90 million following analyst upgrades
ARK Invest sold nearly half a million Coinbase shares after the crypto exchange earned analyst upgrades for its Q4 outperformance.
The Block·2024/02/19 08:27
Vitalik Buterin says AI could help solve Ethereum’s ‘biggest technical risk’
Cointelegraph·2024/02/19 06:13
Grayscale’s GBTC outflows reach $7B, but data shows it’s slowing
Cointelegraph·2024/02/19 06:11
Bitget Futures Market Updates-Bitcoin Hits $52K, Regains $1T Market Cap
Bitget·2024/02/19 05:22
Ethereum Price Signals A Chance For Bullish Streak To $3K
Newsbtc-eth·2024/02/19 04:52
Web3 Watch – 19 Feb 24
QCP Capital·2024/02/19 03:10
Worldcoin soars 140% in a week as wallet app hits 1M daily users
Cointelegraph·2024/02/19 02:34
Curb your enthusiasm — crypto prices aren't going to move as quickly as you think
Cointelegraph·2024/02/18 23:31
VET, RNDR and KAS flash bullish as Bitcoin bulls fight to hold $52K
Cointelegraph·2024/02/18 22:16
Flash
08:12
US Semiconductor Stocks Extend Pre-market Decline, ARM Falls Over 4%BlockBeats News, June 10th, according to Bitget data, pre-market trading of US semiconductor stocks continued to fall. ARM dropped over 4%, Micron Technology dropped over 3%, Marvell Technology dropped nearly 3%, Intel and AMD dropped over 2%, Broadcom dropped nearly 2%, NVIDIA and TSMC dropped over 1%.
07:52
CITIC Securities Maintains 'Buy' Rating on NVIDIA with Target Price of $315 On June 10, CITIC Securities maintained its 'Buy' rating on NVIDIA with a target price of $315, and also maintained its 'Overweight' rating on Broadcom with a target price of $525.
07:41
Goldman Sachs and Morgan Stanley Compete for Lead Underwriter Role in OpenAI and Anthropic IPO, Potential Revenue Exceeding $7 BillionBlockBeats News, June 10th, according to
Fortune
report, Goldman Sachs and Morgan Stanley are competing to be the lead underwriters for OpenAI and Anthropic's future IPO. Previously, Goldman Sachs has secured the lead underwriter position for the SpaceX IPO, scheduled for June 12th. The IPOs of OpenAI and Anthropic are both expected to raise at least $60 billion, totaling over $120 billion. University of Florida IPO expert Jay Ritter stated that the lead underwriter will determine how much IPO stock each fund receives, potentially providing significantly higher returns than other underwriters.
Ritter mentioned that institutional investors often pay substantial "soft dollars" to the lead underwriter to receive more IPO allocations, where trading commissions exceed the actual execution costs. If it is still uncertain whether Goldman Sachs or Morgan Stanley will secure the lead underwriting position for OpenAI and Anthropic, funds may allocate more trading commissions to both investment banks simultaneously to increase their chances of allocation.
Using the SpaceX IPO as an example, if the fundraising reaches $860 billion, the underwriting fee would be around $600 million. However, if the first-day share price rises by 20%, IPO investors' unrealized gains would exceed $17 billion. Ritter estimates that at least 30% of this amount, possibly around $5 billion, could flow back to the investment banks in the form of soft dollars, significantly surpassing the underwriting fee itself.
If both OpenAI and Anthropic companies rise by 20% on their debut days, investors' unrealized gains would reach $24 billion. Calculating based on the same ratio, the investment banks could receive over $7 billion in soft dollars, with most flowing to the lead underwriters. Currently, OpenAI and Anthropic have both secretly filed draft registration statements but have not yet confirmed their listing dates.
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