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Articles · 7
Visa to cut 7% of workforce, about 2,600 jobs
Visa plans to cut about 2,600 jobs, representing roughly 7% of its workforce, with AI cited as a significant but not sole factor. The company will redirect savings into growth areas such as affluent customers, cross-border activity and geographic expansion as it reports quarterly earnings the same day.
CXMT jumps 466% in Shanghai debut to eclipse all other China-listed firms
CXMT shares jumped nearly 466% in their Shanghai debut, closing at 49 yuan to reach a 3.3 trillion yuan market cap that exceeds every other China-listed firm. The $8.6 billion IPO haul will support memory wafer manufacturing while the firm commands 7.67% of the worldwide DRAM sector and stands to benefit from Beijing's semiconductor self-reliance campaign.
Seattle startup funding drops 40% amid AI shift
Seattle startup funding dropped about 40% in the first half of 2026 while AI money flowed elsewhere, alongside a court loss for Kalshi, Impinj's 10-year Nasdaq milestone, and a local flip-phone detox trial. The developments highlight shifting venture dynamics, legal hurdles for prediction markets, corporate endurance, and growing interest in reducing smartphone reliance.
BitMEX to Shut Down in September
BitMEX will close its crypto derivatives exchange in September and has urged users to withdraw funds as soon as possible. The shutdown follows a strategic review and comes after years of regulatory penalties and legal actions against the company and its founders.
DTCC Processes First Live Trades of Tokenized Securities
DTCC has completed its first live production trades of tokenized stocks, ETFs and U.S. Treasurys with more than two dozen major institutions. The milestone advances its planned tokenization service launch in October and shows blockchain integration into core Wall Street infrastructure while preserving traditional legal rights.
Inflation cools, IBM plunges 25%, Morgan Stanley beats
Inflation cooled sharply in June while Morgan Stanley delivered record earnings and IBM suffered its worst trading day on record. Markets reacted positively to the inflation data and bank results but remain on edge over potential oil-price spikes from Middle East conflict.
State Attorneys General File Antitrust Suit Against Paramount-Warner Bros. Discovery Merger
A dozen state attorneys general filed an antitrust lawsuit to halt Paramount's acquisition of Warner Bros. Discovery one month after Department of Justice approval, alleging the $110 billion deal would lessen competition in theatrical film distribution and basic cable licensing.
From the feed · 6
The Chinese Yuan reached its strongest level against the US dollar in over 3 years.
Berkshire Hathaway earnings rose last quarter as gains in energy, railroad and manufacturing businesses offset weaker insurance results. CEO Greg Abel has begun deploying the company's large cash reserves.
The Senate failed to pass the Crypto Clarity Act before entering summer recess. The bill, aimed at establishing regulatory standards for digital assets, now awaits the fall session.
Software stocks swung sharply in both directions this week as investors sort names most insulated from AI disruption. The SaaSpocalypse debate shows no sign of cooling.
Situational Awareness's forced selling acted as a clearing event for the AI trade. Earnings momentum is now carrying the recovery.
Circle is adding native USDC to OKX's X Layer, giving users direct access to the stablecoin along with crosschain transfers. The move extends USDC support across additional blockchain ecosystems.