Protos headlines
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Michael Saylor’s STRC has been off parity for five months
Despite Strategy’s attempts to bring STRC, its variable rate perpetual stock, back to par by repeatedly purchasing hundreds of millions of dollars worth, the perps have stubbornly remained below parity since May 15. This means that through numerous promises from the C-suite and board, MSTR has been...
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Gemini stock reaches record low, down 89% since IPO
The Gemini cryptocurrency exchange reached a record low closing price of $3.215 on Monday, an approximately 89% decline since its IPO, which was offered at $28. Gemini's last 10-Q stated that its revenue for the first half of 2026 was $95.7 million, an increase from the $68.6 million for that same...
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Joe Lubin sells SharpLink after 94% stock collapse
Consensys, the software company controlled by Joe Lubin, has sold $48 million worth of SharpLink, the gambling marketing company-turned-ETH treasury stock that pumped 40x last year during a manic bubble in crypto treasury stocks . Lubin, who's also chairman of SharpLink, oversaw the sale of all 5.7...
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Google Cloud outage takes down Revolut, Lloyds, and HSBC
Revolut, Lloyds, HSBC, and Bank of Scotland are all experiencing outages following a disruption in Google Cloud’s London-based data center. Google Cloud’s status page notes the issue is in the europe-west2 region, and that engineering teams are working to fix the problem, causing “elevated errors...
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AI leads ‘longest losing streak’ for Chinese stocks
The Chinese stock market index CSI 300 lost 3.4% last week, its 10th consecutive weekly decline and its longest losing streak since the index’s creation in 2005, with AI leadership in the wrong direction. Chipmakers and AI companies that powered Beijing’s spring rally are leading the sell-off. The...
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Justin Sun’s TRON stock nears delisting price
While Protos has repeatedly covered the bizarre entity that is Justin Sun’s TRON Inc., including its string of merchandise for children , the stock price has continued to tumble. Now, it's hovering minimally above the $1 threshold necessary to stay listed on Nasdaq. So what’s going wrong and is...
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Trump-associated ALT5 Sigma down 96% since WLFI deal
ALT5 Sigma, the WLFI digital asset treasury firm where Eric Trump was a board observer, fell 96% after its deal with WLFI was announced on Friday. Specifically, the firm, which is operated by AI Financial Corporation, saw its stock price fall from $8.97 before the deal was announced to $0.35....
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Stablecoin Development Corp goes boom then bust
Stablecoin Development Corp (SDEV), a company that's designed to essentially hold and stake governance token SKY, has seen its stock price rocket nearly 1,000% — and subsequently plummet 92% — in a matter of weeks. Why it pumped and dumped so quickly isn't clear. Protos previously reported on SDEV...
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Richard Heart caught with his pants down during arrest, report
Embarrassing pictures of Hex founder Richard Heart sitting partially naked in an armchair have been shared by Turkish news outlet TGRT Haber as part of its reporting on a police operation that saw Heart arrested and $7 million siezed. Heart, real name Richard James Schueler, was arrested last week...
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Traders fear another Black Monday — market data says don’t worry
Today is the anniversary of Black Monday, 1987. However, despite countless traders getting spooked over the weekend by suggestions of a repeat performance, today is completely different. For example, index futures pricing late yesterday evening indicated mildly higher prices for Dow contracts up...
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KOSPI erases an entire year’s worth of South Korean GDP
South Korea’s stock exchange halted trading for 20 minutes yesterday as the country’s KOSPI index fell more than 8% in a single day. Since its June peak, its drawdown now exceeds 40%, worth more than $2 trillion in market capitalization. Followed domestically the same way US investors follow the...
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Phishing scammers capitalise on Ledger panic with fake firmware update
Phishing scammers are capitalizing on the recent $86 million Ledger spyware scandal with a new “firmware update” phishing campaign. Blockchain security firm SlowMist flagged the scam, sharing screenshots of an email which urges the recipient to connect their hardware wallet to “protect your device...
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Strive to sell another $130M of SATS stock to buy more bitcoin
Bitcoin treasury firm Strive wants another $130 million on top of a previously announced $500 million IPO to buy more BTC and grow its business. Last Tuesday, Strive announced plans to raise $500 million through a Series A IPO that would sell 5 million shares, priced at $100 each, of the perpetual...
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Prime Trust wins $9M judgment against Justin Sun-owned Poloniex
The Prime Trust estate has won a $9 million default judgement against Justin Sun-owned Poloniex. The estate previously filed an adversary proceeding against Justin Sun and Poloniex related to preferential transfers of property before the Prime Trust bankruptcy. Shortly before its bankruptcy, Prime...
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OpenAI agent questions its own ethics after going rogue and stealing crypto
OpenAI revealed its AI agent was left questioning its own ethics after it embarked on an unauthorized search for publicly known recovery phrases and stole testnet ETH from a developer wallet. The incident, shared on OpenAI’s Alignment Research Blog , involved an internal research model that was...
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Strategy dips on bad MSCI World Index news
Strategy's stock price dipped 4% in after-hours trading yesterday as traders speculated about its removal from the MSCI World Index. The stock indexation giant announced on Thursday that it will adopt rules removing “non-operating companies” from its Global Investable Market Indexes, including its...
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Ledger roasted over $849 device launch after $86M hack
Ledger has been accused of failing to “read the room” after the company unveiled its new $849 Atom wallet device just days after falling victim to an $86 million draining hack which led to it suspending multiple resellers. Users on X have called Ledger’s Atom announcement the “worst timing ever,”...
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CoreWeave halved since joining Nasdaq 100 as insiders sold $740 million
CoreWeave CEO Mike Intrator sold about $85 million worth of stock in the heavily indebted AI company between September 15 and September 30. Those same shares have since lost more than a quarter of their value. Insider selling is rampant at the company whose stock has lost $18 billion in market cap...
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Tether paid Bo Hines’ company while he was at White House, WSJ
Before Bo Hines became chief executive officer of Tether-backed stablecoin USAT, he was President Donald Trump's executive director of the President's Council of Advisers on Digital Assets. While he was serving the president and working to advance stablecoin legislation, Tether — the world's...
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FBI helps smash crypto scam targeting Russian speakers in Brooklyn
The FBI has helped take down a crypto scam network that targeted Russian-speaking individuals living in the US and likely stole tens of millions of dollars. The operation, described as “one of the biggest operational cyber disruptions undertaken by a local prosecutor’s office,” was led by Brooklyn...
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GTA 6 leaker threatens dead man’s switch for endgame spoilers
Pseudonymous GTA 6 leaker “Cyberleek” has threatened to reveal the long-awaited game’s ending if they're caught, but won’t be leaking content regularly anymore because of their poorly performing crypto token. Last week, Protos reported that Cyberleek had ended their hiatus to drop more GTA 6 leaks...
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Strategy’s USD Cash down 60% in seven weeks
USD Cash at Michael Saylor’s BTC treasury company Strategy has fallen 60% from $1.61 billion on August 30 to $640.5 million on October 11, according to its latest disclosure this week. The firm has spent the majority of its USD Cash on STRC buybacks, Strategy’s ultra-high yield dividend stock that...
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Bank of America hit with $1.2B fine after missing ‘Chinese money laundering’
Bank of America has been fined a total of $1.2 billion dollars by the Office of the Comptroller of the Currency (OCC) and the Financial Crimes Enforcement Network (FinCEN) after admitting failures of its Bank Secrecy Act (BSA) and anti-money laundering (AML) compliance program resulting in over $5...
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OpenAI eyes security firm purchase amid office bugging scandal
OpenAI is in talks to acquire Trail of Bits (ToB), a cybersecurity firm which counts top crypto projects among its clients, according to a Tuesday report by The Information . The news comes in the wake of a major security incident at the AI giant’s offices, in which it discovered a “sophisticated...
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Richard Heart arrested in Turkey almost 2 years after Interpol red notice
Richard Heart, the Hex founder wanted by Finland under an Interpol Red Notice, was reportedly arrested by police in Istanbul on Wednesday. That’s according to Turkish news outlet Haberler , which reports that during the morning raid, police seized $4 million in cash, 64 luxury watches, guns,...
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Ledger asks more Southeast Asia resellers to halt wallet sales
Crypto wallet firm Ledger is asking resellers and distributors in Hong Kong and countries across Southeast Asia to stop selling its devices. Ledger had already suspended the official Malaysian reseller CryptoBilis last week after devices sold through the company were found to contain spyware and...
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Did insiders short oil before Trump backed down on Iran?
After Bloomberg broke the news of a senior adviser to the chairman of the Commodity Futures Trading Commission (CFTC) intervening in an oil insider trading investigation, social media immediately accused well-connected insiders of using political access and financial derivatives to suppress the...
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Kalshi and Polymarket won’t be part of FTC sports gambling probe, report
Rival prediction markets Kalshi and Polymarket will reportedly be excluded from the Federal Trade Commission's (FTC) probe into deceptive practices in the $167 million online sports gambling industry. The two crypto-linked firms aren’t a focus of the FTC probe, which will instead set its sights on...
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Broadcom CEO calls AI ‘a casino’ after co-founder dumped $750 million
When Broadcom CEO Hock Tan called AI investors gamblers behaving “like they are in a casino” on Monday, he failed to mention that his company's own co-founder has sold roughly $750 million worth of AI stock to AI investors this year. Tan told a Singapore conference on Monday that AI investors are...
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XRPN took shareholder vote with no knowledge of XRP inflation bug
Shareholders of Ripple and Arrington Capital’s XRP treasury stock Evernorth Holdings would have surely loved to know that hackers could have inflated the supply of XRP by trillions of new tokens before they decided last month whether to move forward with a plan to take an XRP crypto treasury...