CoreWeave has been trying to acquire Core Scientific for over a year in one of the most-watched M&A deals in crypto. Bitcoin miner Core Scientific failed to win approval for a merger with AI infrastructure company CoreWeave during a shareholders meeting on Thursday. The final results of the preliminary vote will be disclosed in a Securities and Exchange Commission (SEC) filing on Friday, according to Core Scientific’s announcement. CoreWeave finalized the $9 billion acquisition in July, subject to shareholder approval, in which Core Scientific shareholders would receive 0.1235 shares of CoreWeave Class A common stock for each Core Scientific share they own. Read more
With the end of October approaching, Senate Republicans are in danger of going back on their previously announced deadline for a significant cryptocurrency bill. Many US senators are reportedly moving to advance a bill for crypto market structure rules amid a government shutdown with no end in sight. According to a Bloomberg report published on Thursday, several Republicans in the Senate, including those with leadership positions on key committees, plan to pass legislation on digital asset market structure by the end of the year, in line with their initially announced timeline. Despite thousands of government employees being furloughed across several agencies amid the shutdown, members of Congress continue to receive their paychecks and are permitted to conduct business in the House of Representatives and the Senate. Read more
Bitcoin drops to fresh lows despite every bullish outcome that traders forecast being confirmed. Are investors’ worries about an artificial intelligence sector bubble adding weakness to BTC? Key points: Bitcoin charts suggest downside to $103,800 and a final flush below $100,000 as the most likely outcome in the short term. Investors are concerned that the CAPEX expansion by Big Tech companies for their AI infrastructure reflects a speculative-driven market. Read more