Business

MicroStrategy liquidated $216 million in Bitcoin to fund a 12% preferred stock dividend, breaking its "never sell" rule and driving a 70% drop in MSTR shares from their 52-week high.

Volkswagen's board formally blocked CEO Oliver Blume's plan to cut 100,000 jobs and close four German factories after intense union protests. The company will shrink global production capacity instead.

The global stablecoin market has shed $10 billion since May, marking the largest monthly supply drop since the 2022 Terra-Luna collapse as institutional capital pulls back.

American Bitcoin executed a 1-for-15 reverse stock split to avoid Nasdaq delisting as its shares collapsed 95%. The firm recently crossed 8,000 BTC in holdings while posting an $81.8 million Q1 net loss.

Fidelity's long-term power-law model shows Bitcoin is trading 56 percent below its historical trendline. The $58,000 support level mirrors the exact mathematical depths of the 2018 and 2022 bottoms.

Ripple CTO David Schwartz officially dispelled rumors of a corporate sale after past contingency plans to liquidate during the 2020 SEC lawsuit caused a brief market panic. XRP is now holding support near $1.10.