Nasdaq
Bitcoin drops below $88,000 after peaking above $90,000, continuing late December volatility
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Bitcoin surged above $90,000 in Asian trading on Monday before reversing and falling below $88,000, echoing a similar whipsaw two weeks earlier. The drop amid Nasdaq futures weakness dragged altcoins lower, underscoring crypto's stock market ties. Institutional buyer Strategy Inc. meanwhile disclosed a $108 million BTC purchase.
The science ministry announced on Monday that a local artificial intelligence research firm nurtured at a state-run industrial cluster has become an affiliate of a Nasdaq-listed rare earth supply chain company, effectively entering the U.S. stock market. Hanlab, an AI automation firm based at Innopolis Daedeok in the central city of Daejeon, has become a subsidiary of Evolution Metals & Technologies (EMAT) Corp., which debuted on the Nasdaq last month. This marks the first time a research institute from a state research and development cluster has advanced through the Nasdaq market.
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Nasdaq-listed Ethzilla has sold 24,291 ether for about $74.5 million to redeem senior secured convertible notes. This marks the company's second such sale from its cryptocurrency treasury this year. The move reflects broader pressures on digital asset firms to manage liabilities amid falling stock prices.