Stock Market & Financial News
FIFA wanted Avalanche's blockchain to help curb World Cup ticket scalping. Here's how it's going
In this week's edition of The Protocol Newsletter, we're looking at how FIFA is using the Avalanche blockchain to test out a new ticketing system.
Michael Saylor Reveals Why Bitcoin Has Underperformed in 2026
Michael Saylor used his appearance at the BTC Prague conference to respond to criticism over the sale of 32 Bitcoin that Strategy carried out at the end of May and to offer his own theory on Bitcoin's underperformance in 2025.
Moody's Expands Credit Ratings to Solana for Tokenized Bonds
Moodys Ratings is expanding its blockchain strategy by bringing its credit ratings infrastructure to the Solana (SOL) network, enabling issuers of tokenized bonds and other fixed-income assets to integrate Moodys credit assessments directly into blockchain-based securities. The initiative, announced in partnership with Solana-focused tokenization firm Alphaledger, extends Moodys Token Integration Engine (TIE) to one of the largest public blockchain networks.
Coinbase's push into tokenized equities, AI could expand addressable market, says Jefferies
Coinbase Global Inc (NASDAQ:COIN) is accelerating innovation across trading, payments and artificial intelligence, with recent product launches reinforcing its ambition to become a unified exchange for multiple asset classes and potentially broaden its addressable market, Jefferies analysts wrote following the company's System Update event. The analysts highlighted Coinbase's launch of tokenized equities for customers outside the United States, offering 1:1 exposure to underlying stocks, including dividend rights, through fully on-chain assets.
COIN 
Devon Energy: Lower Oil, Higher Earnings, Shares Near Key Support
Devon Energy remains a "Buy," with shares offering solid value despite recent oil price volatility and a technical correction from March highs. DVN delivered strong Q1 free cash flow of $816 million, maintained capital discipline, and ended the quarter with a clean balance sheet and $4.8 billion in liquidity. EPS growth is projected to accelerate into FY 2026 and beyond, with 17 recent sellside upgrades and a 12.6% FCF yield supporting the investment case.
DVN 
Kuros Biosciences AG (CSBTF) Analyst/Investor Day Transcript
Kuros Biosciences AG (CSBTF) Analyst/Investor Day Transcript
CSBTF 
UK imposes rules targeting Google search fairness
Britain's competition watchdog introduced new rules Wednesday requiring Google to be fairer and more transparent in how it ranks search results, as part of moves tackling the technology giant's dominance.
GOOG 
Ricardo Salinas Doubles Down on Bitcoin, Holds 70% of Portfolio in BTC
Mexican billionaire Ricardo Salinas Pliego, whose net worth is estimated at around $5 billion, continues to be one of the worlds most outspoken bitcoin advocates. The Grupo Elektra chairman revealed that approximately 70% of his investment portfolio is allocated to bitcoin, reflecting his strong belief that the cryptocurrency is the best long-term store of value and a superior hedge against inflation compared to traditional fiat currencies.
Bitcoin, Ethereum, XRP, Dogecoin Stay Rangebound As Kevin Warsh Takes Helm At The Fed
Bitcoin and major cryptocurrencies traded largely unchanged ahead of Kevin Warsh's first FOMC meeting, supported by improving ETF inflows as traders brace for potential volatility around the Fed decision. Cryptocurrency Ticker Price Bitcoin (CRYPTO: BTC) $65,912 Ethereum (CRYPTO: ETH) $1,781 Solana (CRYPTO: SOL) $73.56 XRP (CRYPTO: XRP) $1.21 Dogecoin (CRYPTO: DOGE) $0.08694 Shiba Inu (CRYPTO: SHIB) $0.054986 Notable Statistics: Coinglass data shows 82,131 traders were liquidated in the past 24 hours for $297.87 million.
Allbirds stock jumps 45% as company rebrands to Smartbird
Allbirds completed its transformation from a footwear company into an artificial intelligence infrastructure provider on Wednesday, changing its name to Smartbird and appointing former Amazon executive Nadia Carlsten as chief executive officer. The announcement sent shares of the company, which continues to trade under the ticker BIRD, sharply higher.
BIRD 
2026 ETF Flows Cross $1 Trillion Milestone Before Summer
The ETF industry has crossed a historic threshold, comfortably surpassing previous milestones well ahead of schedule. 2026 U.S.-listed ETF flows have reached $1 trillion, less than halfway through the year, according to Bloomberg data.
DRAM 
Expanding the Suite: Harbor Launches Active Commodity ETF
On June 16, Harbor Capital Advisors launched the Harbor Active Commodity ETF (ACOM). With an expense ratio of 93 basis points, this fund provides actively managed exposure to commodity instruments with a focus on high expected inflation and low cost of carry.
CMDT 
OKX and Chainlink Expand Partnership Around Real-World Assets
OKX integrated Chainlink Data Streams into the mainnet of X Layer, its ZK L2, with the goal of enabling AI-powered DeFi applications and real-world asset protocols. The integration allows developers to access high-frequency market data in real time, rather than receiving it at scheduled intervals.
Gold drops below $4,300/oz as Fed votes 12-0 in favor of rate hold, but nearly half of policymakers see a rate hike in 2026
The Federal Reserve announced on Wednesday that the first Federal Open Market Committee (FOMC) vote under new chair Kevin Warsh was unanimous in favor of a rate hold, as expected by the market consensus, while the latest economic projections showed nearly half of policymakers believe a rate hike will be warranted in 2026.
AAAU 
Verastem: 'Buy' Positive RAMP-205 Data And Extensive VS-7375 Registration Program
Verastem, Inc. is maintained at a Buy rating, driven by upcoming clinical catalysts and positive early-stage data in KRAS G12D mutant solid tumors. VSTM expects key data readouts from the TARGET-D 101 phase 1/2 study in 2026 and is advancing three phase 2 registration-directed studies for PDAC, NSCLC, and CRC for VS-7375. Positive phase 1b/2a RAMP 205 results in 1st-line metastatic PDAC (86% OS at 6 months, 52% cORR) support further development of avutometinib/defactinib combinations.
VSTM 
Prediction: SpaceX Will Get “Cut in Half Over the Next 6 Months,” Here's Why
SpaceX (Nasdaq: SPCX) finally hit the public markets, and within hours of the opening bell, the loudest voices on the Prof G Markets podcast were already calling the top.
SPCX 
Zama and Morpho Open Deposits for Encrypted USDC Yield Product
Zama, Morpho and Steakhouse Financial will launch on June 23 the first confidential DeFi yield vault on Ethereum with encrypted USDC. The product uses fully homomorphic encryption to conceal onchain balances and amounts, without sacrificing auditability or regulatory compliance controls. Morpho surpasses $11 billion in deposits and Steakhouse manages over $4.
Oil Prices Slide on US-Iran Deal: 3 Energy Stocks Worth Watching
ExxonMobil, ConocoPhillips and EOG Resources stand out as low-cost, diversified production bases that may help them stay profitable despite oil-price volatility.
COP 
Equinix Strengthens AI Infrastructure With Cisco & NVIDIA Partnerships
EQIX expands partnerships with Cisco and NVIDIA to speed enterprise AI adoption with standardized AI factory blueprints.
EQIX 
Pizza Hut's new owner also runs gyms and sells caskets, which is either a coincidence or the most complete business plan ever written
Don Lair writes about options income, dividend strategy, and the kind of boring-but-durable investing that actually funds retirement.
YUM 
This Is The Clearest SpaceX Bull Case I've Heard. AI CEO Says SpaceX Is His Top 10 Year Buy & Hold Stock
SpaceX (NASDAQ:SPCX) stock is trading near $197 midday Wednesday, easing 2.5% after a blistering debut week.
SPCX 
Lululemon apologizes for using Japanese drum at Great Wall of China yoga event
The Canadian athleisure company said it had failed to recognize potential concerns surrounding the instrument used during the event.
LULU 
Anthropic becomes first AI startup to join the Frontier carbon removal coalition
Anthropic is joining Frontier, the carbon removal collective, contributing to a new $915 million tranche of funding and marking its arrival as the first AI startup to join the group.
ULCC 
Bitcoin slides as Fed pledges price stability under new chair Warsh
The Fed's hawkish stance under Warsh may lead to prolonged macroeconomic tightening, impacting risk assets like Bitcoin and market liquidity. Bitcoin slides as Fed pledges price stability under new chair Warsh.
Red Robin Gourmet Burgers' Transformation Looks Irresistible (Upgrade)
Red Robin Gourmet Burgers, Inc. surges on major refranchising deals, unlocking $96 million to pay down debt and fund transformation initiatives. RRGB's net debt will drop from $146.9 million to $50.9 million, significantly improving balance sheet strength and reducing interest expense. Despite ongoing sales and guest count pressures, RRGB trades at a steep discount to peers and recent asset sale multiples imply substantial upside.
RRGB 
Binance EU Access at Risk: What MiCA Could Mean for BNB and Crypto Users
Binance is facing one of its biggest regulatory tests in Europe as the MiCA deadline approaches. Could this put BNB and EU crypto users under pressure?
Bitcoin Slides as Fed Says It Will 'Deliver Price Stability' Under Kevin Warsh
The first FOMC meeting under new Federal Reserve Chair Kevin Warsh produced the expected result, yet Bitcoin and other assets dipped.
Cybercriminals allegedly hacked tens of thousands of Fortinet firewalls used by major companies all over the world
Cybercriminals have compromised tens of thousands of Fortinet firewalls and VPNs used by major companies all over the world, according to two cybersecurity firms.
FTNT 
Bitcoin (BTC) Climbs Over $64K Following Optimistic Update from Pakistan's Shehbaz Sharif on Iran Peace Talks
Bitcoin, the flagship cryptocurrency, has broken through the $64,000 level once again, reflecting renewed confidence in the market tied to positive signals from international diplomacy. The move upward occurred as Pakistan's leadership shared encouraging news about advancing negotiations aimed at resolving tensions involving Iran.
Ethena (ENA) Rebounds 10% From Record Lows
ENA rebounded from record lows, rising 14.01% over seven days while still falling 18.34% across the previous two-week period. The move was supported by a buyback-and-burn governance proposal, negative perpetual funding, higher volume, and a 12% increase in futures open interest. Traders are watching $0.
