Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. As Bitcoin’s shine dulls and market saturation squeezes returns, a new breed of publicly traded crypto treasury companies is making a risky pivot that has analysts sounding alarm bells about heightened volatility ahead. The trend marks a dramatic shift for digital asset treasury companies, which exploded in popularity following the meteoric success of Strategy (NASDAQ:MSTR) and its founder, Michael Saylor. ...

Core Points - OceanPal Inc. plans to change its stock ticker symbol from "OP" to "SVRN" effective November 17, 2025 [1][2] - The change will not affect the rights of outstanding common stock, and no action is required from shareholders [2] - OceanPal Inc. specializes in shipping transportation services, focusing on dry bulk vessels and product tankers [3] Company Overview - OceanPal Inc. is engaged in the seaborne transportation of bulk commodities such as iron ore, coal, and grain, as well as refined petroleum products [3] - The company's fleet primarily operates on time charter trips with short to medium duration and spot charters, aiming to maximize long-term shareholder value [3] Subsidiary Information - SovereignAI is a wholly owned subsidiary of OceanPal, formed to implement a digital asset treasury strategy [4] - SovereignAI focuses on developing confidential AI infrastructure that intersects AI and blockchain in public markets [4] - The subsidiary will utilize NEAR Protocol's technology to establish private, user-owned commerce, with funds generated from NEAR tokens supporting the company's blockchain-native AI infrastructure goals [4]

🔥 LATEST: Nasdaq-listed OceanPal raises $120M to launch a $NEAR token treasury company, planning to acquire up to 10% of NEAR's token supply. https://t.co/5W0XRLadiI ...

Core Insights - OceanPal Inc. plans to pivot into artificial intelligence infrastructure by building confidential AI cloud services on the Near Protocol blockchain [1] - The company has closed a $120 million private investment in public equity (PIPE) deal to launch SovereignAI, a wholly owned subsidiary focused on NEAR tokens [2] - SovereignAI aims to acquire 10% of the NEAR token's supply over time, marking a unique approach compared to other companies focusing on well-known cryptocurrencies [3] Company Developments - OceanPal will continue its shipping operations, which reported a net loss of $10.4 million in the first half of the year [2] - The company's shares fell over 20% recently, trading at $1.73, down from a high of $79 in June [3] Strategic Vision - SovereignAI aims to enable user-owned AI and autonomous agent commerce, leveraging its infrastructure for privacy-preserving AI at scale [4][5] - The advisory board for SovereignAI includes industry figures from OpenAI, Quicknode, and Fabric Ventures, chaired by Near Foundation co-founder Illia Polosukhin [5]

Market Overview - U.S. stocks traded higher, with the Dow Jones index gaining over 100 points, up 0.30% to 47,688.42, while NASDAQ rose 0.45% to 23,744.57, and S&P 500 fell slightly by 0.01% to 6,874.13 [1] - Information technology shares increased by 0.8%, while real estate stocks decreased by 2.1% [1] Company Performance - United Parcel Service Inc (UPS) reported third-quarter earnings of $1.74 per share, exceeding the analyst consensus estimate of $1.31 per share, and quarterly sales of $21.400 billion, surpassing the estimate of $20.832 billion [2] Commodity Market - Oil prices fell by 1.5% to $60.40, gold decreased by 1.9% to $3,942.30, silver dropped by 0.6% to $46.510, and copper fell by 0.7% to $5.1375 [3] European Market - European shares were mostly lower, with the eurozone's STOXX 600 down 0.3%, Spain's IBEX 35 Index down 0.1%, London's FTSE 100 up 0.1%, Germany's DAX 40 down 0.2%, and France's CAC 40 down 0.2% [4] Asian Market - Asian markets closed lower, with Japan's Nikkei 225 down 0.58%, Hong Kong's Hang Seng index down 0.33%, China's Shanghai Composite down 0.22%, and India's BSE Sensex down 0.18% [5] Stock Movements - Vsee Health Inc shares surged 235% to $2.07 after receiving U.S. Department of Health and Human Services authority to operate at the FedRAMP High level [7] - TEN Holdings Inc shares increased by 139% to $0.67, while 707 Cayman Holdings Ltd shares rose by 47% to $0.44 [7] - Co-Diagnostics Inc shares fell by 54% to $0.58 following a $7 million registered direct offering at $0.55 per share [7] - SMX (Security Matters) PLC shares decreased by 24% to $4.43, and OceanPal Inc shares fell by 23% to $1.70 [7] Economic Indicators - The FHFA house price index rose by 0.4% month-over-month in August, while the S&P CoreLogic Case-Shiller 20-City Home Price Index increased by 1.6% year-over-year, below market expectations of a 1.9% gain [8] - U.S. private businesses created an average of 14,250 jobs per week during the four weeks ending on October 11 [9]

Market Overview - U.S. stocks traded higher, with the Dow Jones index gaining over 100 points, up 0.30% to 47,688.42, while NASDAQ rose 0.45% to 23,744.57, and S&P 500 fell slightly by 0.01% to 6,874.13 [1] - Information technology shares increased by 0.8%, while real estate stocks decreased by 2.1% [1] Company Performance - United Parcel Service Inc (UPS) reported third-quarter earnings of $1.74 per share, exceeding the analyst consensus estimate of $1.31 per share, and quarterly sales of $21.400 billion, surpassing the estimate of $20.832 billion [2] Commodity Market - Oil prices fell by 1.5% to $60.40, gold decreased by 1.9% to $3,942.30, silver dropped by 0.6% to $46.510, and copper fell by 0.7% to $5.1375 [3] International Markets - European shares were mostly lower, with the eurozone's STOXX 600 down 0.3%, Spain's IBEX 35 Index down 0.1%, London's FTSE 100 up 0.1%, Germany's DAX 40 down 0.2%, and France's CAC 40 down 0.2% [4] - Asian markets closed lower, with Japan's Nikkei 225 down 0.58%, Hong Kong's Hang Seng index down 0.33%, China's Shanghai Composite down 0.22%, and India's BSE Sensex down 0.18% [5] Stock Movements - Vsee Health Inc shares surged 235% to $2.07 after receiving U.S. Department of Health and Human Services authority to operate at the FedRAMP High level [7] - TEN Holdings Inc shares increased by 139% to $0.67, while 707 Cayman Holdings Ltd shares rose by 47% to $0.44 [7] - Co-Diagnostics Inc shares dropped 54% to $0.58 following a $7 million registered direct offering at $0.55 per share [7] - SMX (Security Matters) PLC shares fell 24% to $4.43, and OceanPal Inc shares decreased by 23% to $1.70 [7] Economic Indicators - The FHFA house price index rose by 0.4% month-over-month in August, while the S&P CoreLogic Case-Shiller 20-City Home Price Index increased by 1.6% year-over-year, slightly below market expectations of a 1.9% gain [8] - U.S. private businesses created an average of 14,250 jobs per week during the four weeks ending on October 11 [9]

$BASE would likely trade $3.9B - $7.3B FDV if valued at $ARB, $OP or $LINEA FDV/TVL multiples.That puts it far below $AVAX (~$14B), Hedera (~$12B), BCH (~$11B), $IP, $ENA, $UNI and others.Even with Base posting the highest L2 chain revenue ($5M last month vs $1.6M for Arbitrum), it’s not enough to command a big premium.If Base was an L1, valuation would be way higher. But they’ve been clear: Ethereum alignment is their priority.Clearly, L2 tokens are cooked.Where Base can stand out is the ecosystem moat:• C ...

Core Insights - The conflict between Israel and Iran is driving investor interest towards energy and shipping stocks, with significant pre-market gains observed in specific companies [1][3]. Group 1: Company Performance - Battalion Oil (NYSEAMERICAN: BATL) experienced a 164% increase to $2.70 in pre-market trading, following a nearly 15% rise in the previous session [1][2]. - TMD Energy (NYSEAMERICAN: TMDE) surged 204% to $2.72 in early trading, building on a 77% gain from the previous Friday [2]. - OceanPal (NASDAQ: OP) saw its shares climb 101% to $3.25 in pre-market activity [2]. Group 2: Market Dynamics - The surge in energy and shipping stocks is attributed to potential disruptions in Middle Eastern oil supplies, with crude prices expected to rise [3]. - Battalion Oil and TMD Energy are positioned to benefit from these rising crude prices, while OceanPal is gaining from increased freight rates amid heightened geopolitical risks [3]. - The possibility of Iran closing the Strait of Hormuz, a critical waterway for global oil transport, adds to market concerns, as it handles about 20% of the world's oil [4].

Core Points - OceanPal Inc. has received notification from Nasdaq regarding non-compliance with the minimum bid price requirement of US$1.00 per share for continued listing on The Nasdaq Capital Market [1] - The company has a grace period of 180 days, until October 14, 2025, to regain compliance by maintaining a closing bid price of US$1.00 or higher for at least ten consecutive business days [2] - The company's business operations remain unaffected by the notification, and its common stock will continue to be listed and traded on The Nasdaq Capital Market during the grace period [3] Company Overview - OceanPal Inc. is a global provider of shipping transportation services, focusing on the ownership and operation of dry bulk vessels and product tankers [4] - The company engages in the seaborne transportation of bulk commodities such as iron ore, coal, and grain, as well as refined petroleum products [4] - OceanPal's fleet primarily operates on time charter trips with short to medium duration and spot charters, aiming to maximize long-term shareholder value [4]

Company Overview - OceanPal Inc. is a global provider of shipping transportation services, specializing in the ownership and operation of dry bulk vessels and product tankers [2] - The company is engaged in the seaborne transportation of bulk commodities, including iron ore, coal, and grain, as well as refined petroleum products [2] - OceanPal's fleet is primarily employed on time charter trips with short to medium duration and spot charters, focusing on maximizing long-term shareholder value [2] Recent Developments - OceanPal Inc. has filed its 2024 Annual Report on Form 20-F with the United States Securities and Exchange Commission [1] - The Annual Report is accessible through the company's website and the Commission's website, with hard copies available to shareholders upon request [1]