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Everyday Economic News
Pomerantz Law Firm Announces the Filing of a Class Action Against BitGo Holdings, Inc. and Certain Officers - BTGO
Pomerantz LLP has filed a class action lawsuit against BitGo Holdings, Inc. and certain officers on behalf of investors who purchased BitGo securities. The lawsuit alleges that BitGo made materially false and misleading statements in its IPO offering documents and public statements, particularly regarding the risks posed by declining digital asset prices and its financial performance. Investors who acquired BitGo securities between January 22, 2025, and May 13, 2026, have until August 7, 2026, to seek appointment as Lead Plaintiff.
Canaan Inc increases Bitcoin holdings by 41 BTC to 1,867 BTC
Canaan Inc., a Nasdaq-listed Bitcoin mining hardware maker, increased its corporate Bitcoin treasury by 41 BTC in May 2026, reaching a total of 1,867 BTC. The company, which also holds 3,952 ETH, accumulated this Bitcoin through self-mining 90 BTC and receiving 24 BTC from customer payments, while deploying 73 BTC for operational needs. This consistent accumulation reflects a deliberate strategy since July 2025, offering shareholders exposure to both hardware manufacturing and a growing Bitcoin balance sheet.
Rich Miller on TeraWulf’s Lake Mariner AI buildout, data center pushback and the crypto-to-AI shift: Podcast
Rich Miller, a longtime data center journalist, discussed TeraWulf's Lake Mariner facility, highlighting its conversion of a former coal plant site into an AI data center. He noted the shift in data center strategy from following network connectivity to prioritizing power access, a change that has made former bitcoin mining sites valuable for AI infrastructure. The discussion also addressed challenges such as labor bottlenecks, community pushback (e.g., water usage concerns), and the complexities for bitcoin miners transitioning to AI data center operations.
Citi Wants To Put SpaceX, Anthropic Shares Right Next To Your Apple Stock: Here's How
Citigroup is launching a new venture using tokenized depositary receipts on a blockchain to allow wealthy and institutional clients to invest in private companies like SpaceX and Anthropic directly alongside their public equity holdings. This initiative aims to provide a cleaner, more transparent alternative to traditional special-purpose vehicles, initially targeting foreign investors with plans for future U.S. access. Citi's stock performance is analyzed, noting its recent gains and upcoming earnings report as a potential catalyst.
Canaan reports May 2026 Bitcoin mining progress and operational growth
Canaan (NASDAQ: CAN) has released its unaudited operational updates for May 2026, showcasing significant advancements in energy efficiency and strategic infrastructure expansion. The company achieved record operational optimization metrics, generated 90 BTC from self-mining and 24 BTC from customer payments, and ended May with a treasury of 1,867 BTC and 3,952 ETH. These developments highlight Canaan's improved hardware efficiency and growth in its global mining footprint.
Citigroup (C) Launches Tokenized Share Trading Initiative
Citigroup (C) has launched a new initiative to trade tokenized shares using blockchain technology, initially targeting wealthy foreign investors through depositary receipts. This move positions Citigroup as a leader in digital finance, aligning with broader efforts among U.S. banks to establish a tokenized deposit network. Despite the innovative step, insider activity shows significant selling, raising potential concerns for investors regarding the stock's future performance.
Chainlink ranks No. 4 in blockchain and protocols on Fortune’s Crypto 100 list
Chainlink has secured the No. 4 spot in the Blockchains and Protocols category on Fortune Magazine’s 2026 Crypto 100 list, following Bitcoin, Ethereum, and Solana. This recognition is attributed to its Cross-Chain Interoperability Protocol (CCIP), which processes significant transaction volumes, and increasing adoption by institutions like Swift and JPMorgan. The ranking highlights Chainlink's role in complementing the broader crypto ecosystem rather than competing directly with Layer 1 blockchains.
Bitcoin miner Canaan supplies hot water to Nordic residents
Canaan Inc. (NASDAQ: CAN) released its unaudited bitcoin mining update for May 2026, reporting 90 BTC self-mined, 24 BTC from customer payments, and record cryptocurrency holdings of 1,867 BTC and 3,952 ETH. The company also announced an 8 MW hash-to-heat order for a Nordic district heating network, building on a successful 2 MW deployment, and secured a follow-on hash board module order from Tether for a facility in South America. These updates highlight Canaan's efforts to enhance operational efficiency, expand infrastructure beyond traditional mining applications, and recover from disruptions like wildfires at its JV operations.
Canaan reports 90 Bitcoin mined in May; crypto treasury hits all-time high
Canaan (CAN) announced its May 2026 bitcoin mining update, revealing 90 BTC mined from its own operations and an additional 24 BTC from customer contributions. This activity led to the company's crypto treasury reaching an all-time high of 1.87K BTC and 3.95K Ethereum.
Citi in talks with companies for launch of tokenized shares - report (C:NYSE)
Citigroup (C) is reportedly in talks with major private companies to launch tokenized shares. The banking giant is developing a system for wealthy and institutional clients to access these digital assets. This move indicates Citi's potential engagement in the growing blockchain and digital asset space.