Latest news with #OSL
Yahoo
5 hours ago
- Business
- Yahoo
Cardano, Dogecoin, XRP Lead Market Rebound as Crypto Bets Surge Post-GENIUS Act Clearing
Crypto markets rallied sharply in the past 24 hours with ether (ETH) and major tokens surging on renewed risk appetite, growing ETH treasury demand, and macro tailwinds following the passage of the GENIUS Act. ETH climbed 8.1% in the last 24 hours to $3,601, extending its 7-day gain to 21.3%, as traders priced in expectations of deeper institutional allocation. The move was driven in part by news that SharpLink Gaming, now the largest corporate holder of ETH, expanded its stock sale to $6 billion to fund additional ETH accumulation, mirroring early bitcoin (BTC) strategies from firms like MicroStrategy. 'The crypto market's resilience reflects deepening institutional conviction,' said Eugene Cheung, chief commercial officer at OSL. 'Companies are rapidly accumulating ETH as part of reserve strategies while BTC maintains steady dominance.' Projects like SharpLink's ETH bet underscore a structural shift toward crypto as a macro asset class.' The risk-on mood follows the GENIUS Act's passage, which is widely seen as a pro-crypto legislative catalyst. Bitcoin briefly touched new all-time highs and remains stable at $120,286, while ETH's momentum helped pull broader altcoins higher. Cardano's ADA (ADA) surged 14.6%, XRP (XRP) gained 17.2%, and Dogecoin (DOGE) added 12.5%, all within the past 24 hours. While buying pressure remained concentrated on ETH, traders rotated into large-cap altcoins viewed as laggards relative to ether's breakout. These assets tend to rally in tandem with ETH during periods of rising market confidence, especially when capital flows into Ethereum Layer 1s and older majors in search of beta. With ETH pulling ahead, short-term positioning favored high-liquidity tokens that typically benefit from a 'catch-up' trade as altseason expectations build. 'We had an incredible rally this past week,' said Jeff Mei, COO at BTSE. 'ETH jumped by a whopping 20% to reach $3,600. We think it could revisit all-time highs as more companies adopt ETH treasury strategies. 'Altcoin summer looks likely, especially if the Fed cuts rates,' Mei added. ETH dominance — long overshadowed by BTC's macro narrative — is beginning to reassert itself as the ETH/BTC ratio rebounds. With $64 billion in 24-hour ETH trading volume and inflows into ETH-linked ETFs on the rise, traders are likely positioning for Ethereum-led upside into in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Ether, Dogecoin Lead Modest Market Gains, Bitcoin Holds $118K as CPI Print Fuels Rate Cut Bets
Bitcoin (BTC) hovered near $118,000 during the Asian trading hours on Wednesday, consolidating gains after June's U.S. CPI data signaled further disinflation, pushing traders to reprice odds of a September Fed rate cut. Core CPI rose just 0.1% month-over-month for the fifth straight time, fanning bullish sentiment across crypto markets despite broader equity weakness. 'The data was bullish for crypto, as the Fed may be more likely to cut interest rates in September, potentially triggering more capital to flow into the crypto industry,' said Eugene Cheung, chief commercial officer of OSL. 'Bitcoin's price held up well as a testament to traders' optimism, despite some crypto stocks dropping after the GENIUS Act failed to pass a procedural vote, which will continue to be refined by lawmakers for another vote," Cheung added. The data sparked a rebound in ether (ETH) which reclaimed the $3,100 level amid inflows into spot ETFs and tailwinds from a newly passed stablecoin bill, seen as reinforcing ETH's role as a base layer for tokenized dollars. Dogecoin (DOGE) was sitting near 19 cents, delivering a modest 2.7% daily climb and extending its weekly gain to roughly 15%. Solana's SOL (SOL) remains steady at $163, while XRP (XRP) trades near $2.92, reflecting steady interest. BNB (BNB) trades around $688, holding onto recent gains, and TRON's TRX (TRX) remains flat at about 3 cents. Institutional flows remained strong. U.S. spot bitcoin ETFs logged their ninth consecutive day of net inflows, with $403 million added Tuesday. BlackRock's IBIT alone saw $416 million in new funds, more than offsetting $70 million in combined outflows from GBTC, FBTC and ARKB, according to SoSoValue. Spot ether (ETH) ETFs also posted $192 million in inflows, their eighth straight positive day. In the macro backdrop, Asian markets slipped and U.S. equity futures dipped as traders reassessed the pace of potential rate cuts. While some firms are reportedly passing tariff-related costs to consumers, Fed officials remain cautious. Dallas Fed President Lorie Logan noted that the central bank may still need to hold rates steady unless labor markets or inflation weaken further. Still, crypto traders appear to be looking past short-term policy noise. 'Despite a temporary setback for the GENIUS Act, Bitcoin has been able to maintain a solid position at around $118,000' said Nick Ruck, director at LVRG Research. 'We remain positive that the current bull run still has much runway left to see higher prices in the second half of the year.'Sign in to access your portfolio
Malaysian Reserve
08-07-2025
- Business
- Malaysian Reserve
Water Street Capital Comments On Latest Update From REC Silicon Board of Directors
Board Confirms Hanwha's NOK 2.20 Offer Significantly Undervalues REC Silicon's Assets and Intellectual Property Water Street Condemns Behavior of Hanwha Which is Preventing REC Silicon from Pursuing Alternative Financing and Strategic Options JACKSONVILLE, Fla., July 8, 2025 /PRNewswire/ — Water Street Capital, Inc. ('Water Street'), a long-term, value-oriented private investment firm which, together with its affiliates, collectively owns 8.26% of the outstanding common stock of REC Silicon ASA (OSL: ('REC Silicon' or the 'Company'), today issued the following statement in response to the July 7, 2025 update from the Company's Board of Directors (the 'Board'): 'Yesterday's announcement by the Board of REC Silicon, elected by the majority of shareholders at the Company's recent Annual General Meeting, confirms what Water Street has believed since the release of its shareholder letter on May 23, 2025: Hanwha Solutions Corporation's ('Hanwha') NOK 2.20 offer significantly undervalues REC Silicon's assets and intellectual property. However, due to the onerous restrictions outlined in Hanwha's one-sided Transaction Agreement ('TA') and its subsequent endorsement by the Company's previous Board, the new Board of REC Silicon is not given the opportunity to maximize shareholder value. The Board clearly states that 'The Transaction Agreement entered into on 24 April 2025 between the Company and Anchor, under Norwegian statutory law, further restricts the Board's ability to pursue alternative financing and strategic options in the current situation. Hanwha has not taken any steps to release the Board from these restrictions, but instead approached the Board and reserved the right to initiate legal action against each individual board member for failure to comply with its alleged duties.' We find it difficult for a board to fulfill its duty to maximize shareholder value when threatened by the very shareholder responsible for placing the company into this perilous situation. That same shareholder agreed to fund the Company in the TA, only to retract that pledge when it lost control of the Board. Water Street believes that this act is a material breach of the TA under United States law. Given the opportunity to bring the assets of REC Silicon to market, Water Street remains confident that the proper value of the Company's Polysilicon and Silane gas businesses will be ascribed. We commend the current Board members for their efforts in light of the burdensome restrictions put in place prior to their recent election.' Logo – Media ContactJonathan Gasthalter/Brandon LinGasthalter & Co.+1 (212) 257-4170jg@ View original content:
Daily News Egypt
07-07-2025
- Business
- Daily News Egypt
CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan
The Commercial International Bank (CIB) Egypt has signed a mid-term financing agreement worth EGP 963m with OSL for Entertainment Projects (OSL), a subsidiary of Orascom Investment Holding, to support the redevelopment of the sound and light show and surrounding exhibition areas at the Pyramids of Giza and the Sphinx. The financing will fund upgrades to the sound and light show's infrastructure, including state-of-the-art audiovisual systems, lighting technologies, and civil works. The project aims to reimagine the area as a world-class cultural and entertainment destination, with a new show designed to narrate the history of the pyramids using cutting-edge technology. It forms a key part of the Giza 2030 vision, which seeks to elevate the site's tourism appeal and enhance the overall visitor experience. The agreement was signed by Manal Abdel Hamid, CEO of OSL, and Soha Abou Zeid, Head of Institutional Relations and Direct Investment at CIB, in the presence of Naguib Sawiris, Chairperson of Orascom Investment Holding; Hisham Ezz Al-Arab, CEO and Board Member of CIB; Amr El-Ganainy, Deputy CEO and Board Member of CIB; and Marwan Hussein, CEO of Orascom Investment Holding, along with senior executives from CIB, Orascom, and OSL. Naguib Sawiris expressed his satisfaction with the partnership, stating: 'We are pleased to cooperate with CIB, one of our oldest financial partners, in supporting this cultural project. Orascom Investment aims to deliver a spectacular, 21st-century show that elevates service standards and embraces the latest technologies—transforming the site into a global entertainment hub that attracts repeat visits and reflects Egypt's cultural pride.' He also praised the close collaboration with CIB throughout the financing study and agreement process. Hisham Ezz Al-Arab said: 'We at CIB are proud to support this ambitious national project that embodies Egypt's cultural and civilisational heritage. Financing the Pyramids' sound and light show aligns with our strategy to back initiatives that drive economic development while promoting Egypt's tourism identity. Our partnership with OSL is a model for impactful collaboration in sustainable development.' CIB's support for the Giza Sound and Light Show reflects its broader commitment to projects that strengthen Egypt's cultural assets and enhance the tourism experience through improved infrastructure and expanded entertainment offerings. The collaboration also underscores CIB's role in supporting initiatives that integrate economic growth with national identity, delivering tangible social and economic benefits. As part of its long-term strategy, Orascom Investment Holding is undertaking a comprehensive transformation of the visitor experience at the Giza Plateau. Through its subsidiary Orascom Pyramids, the group recently held a soft opening of the site's redevelopment project, which seeks to modernise one of the world's most iconic archaeological destinations. The project includes streamlining traffic flow within the site to improve visitor movement, expanding parking areas for buses and private vehicles, and enhancing accessibility through dedicated spaces for people with disabilities. Additionally, the infrastructure is being upgraded to meet modern standards of comfort and safety. New electronic information points will guide and inform tourists, while licensed souvenir shops, cafés, and restaurants have been added to cater to visitor needs. Directional signage has been installed across the site to facilitate navigation, ensuring tourists can explore key landmarks with ease and confidence.
Time of India
30-06-2025
- Business
- Time of India
Hong Kong-based crypto platform OSL shares jump on Canadian acquisition
Academy Empower your mind, elevate your skills Hong Kong-listed shares of OSL Group jumped 10% to their highest in almost four years on Monday after the digital asset trading platform said it had acquired Canadian-based crypto infrastructure provider Banxa The Banxa deal announced late on Friday is the latest in a string of overseas asset purchases over the past year. OSL's finance chief said it would accelerate its global expansion plans to tap into growing interest in cryptocurrencies."We will continue global expansion through both acquisitions and license applications," Ivan Wong told Reuters on a global footprint is crucial to OSL's ambition to be a bigger player in cross-border payments , and Wong said the company will seek to issue stablecoins - cryptocurrencies pegged to assets such as fiat currencies. Hong Kong is setting up a licensing framework for stablecoin will potentially expedite cross-border payments and benefit a regional economy facing challenges from geopolitical tensions, Hong Kong financial secretary Paul Chan said in a blog post over the weekend."Stablecoins are getting more and more popular among institutions globally," said Wong, adding OSL was preparing for licence Kong's stablecoin bill comes into effect on August 1. China's Ant Group and have said they plan to issue stablecoins in Hong Kong via offshore addition to Hong Kong, OSL also aims to issue stablecoins in other regions, Wong transforming last year into a company fully dedicated to digital assets, OSL has secured an exchange licence in Australia and completed acquisitions in Japan and company will close an acquisition in Indonesia next month, and plans to apply for crypto-related licenses in three regions this year, he will also step up investment in the so-called Real-World-Assets business , converting traditional assets into digital tokens.
