Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. A viral social media claim suggesting the U.S. Internal Revenue Service is forcing all taxpayers to list their cryptocurrency wallets is false, though the episode has revived broader concerns about how federal agencies handle digital-asset privacy. Viral Screenshot Sparks Misleading Panic A viral post showed an IRS document asking a taxpayer to list all their currencies, such as Bitcoin (CRYPTO: BTC), Et ...

The year 2025 can easily be credited the rise of cryptocurrencies. Bitcoin surpassed the mark of $1,26,000 to hit an all-time high in October. However, the rally couldn’t last long and the Bitcoin slumped to the level of $91,881 at the time of writing. So far this year, Bitcoin is now down by 1.7%.The rally in initial phase of 2025 has been fueled by supportive regulations from the Trump administration, solid spot Bitcoin ETF inflows and rising demand from institutional investors.  In fact, many started to ...

Good Monday morning on Wall Street. I'm Yahoo Finance executive editor Brian Sazy and this is Opening Bid. We have a little bit of everything for you today in the markets from a renewed flight out of Bitcoin to surprisingly solid sales results from retailers to kick off the holiday shopping season.Then there is President Trump saying he has decided who the next Fed chair will be. this only 10 days out from the next decision on rates from the Federal Reserve. So, busy week uh right out of the gate here on Mo ...

NASDAQ on pace to snap a seven-month winning streak as tech drags. Joining me now, markets and data editor Jared Blickery, as well as Michelle Schneider, market gauge. com chief strategist.Jared, I want to start with you. Give us a look at the month here because we saw a lot of damage within tech and that looks like it's going to drag the NASDAQ lower on the month. >> You bet.And let's start with the uh Wi-Fi Interactive. And I'm going to pull up the month to date and this is going to be as of the close Wed ...

Market Overview - The market is experiencing increased selling pressure, initially starting in the cryptocurrency sector and spreading to major stocks, including the "MAG 7" and gold, with experts warning of a potential correction of around 10% [2][10][11] - Major indices are showing significant declines, with the Dow down approximately 479 points (1%) and the S&P 500 closing below its 50-day moving average for the first time in 139 sessions [3][8] Sector Performance - The consumer discretionary and technology sectors are underperforming, with the tech sector down about 1% [4][6] - Defensive sectors like utilities and consumer staples are showing some resilience, with only a few stocks in the green [5] Cryptocurrency Impact - The cryptocurrency market is acting as a leading indicator for broader market sentiment, with Bitcoin down 2.5% and Ethereum down 2% [6][18] - The sell-off in crypto is attributed to liquidity expectations and is seen as a precursor to potential declines in other risk assets [17][27] Company-Specific Insights - Home Depot reported a weak quarter, leading to a cut in its fiscal year outlook due to ongoing consumer uncertainty and pressure in the housing market [8][55][57] - Target is expected to report disappointing earnings, with analysts cautious about its stock performance due to declining sales and competitive pressures from Walmart [46][47][51] Investment Strategies - Analysts suggest a cautious approach to investing in sectors like AI and tech, emphasizing the need for companies to demonstrate earnings growth to justify high valuations [12][40][67] - There is a focus on identifying value in larger companies with solid growth prospects, as opposed to speculative assets like cryptocurrencies [37][67]

Core Insights - The cryptocurrency market has not responded positively to recent institutional interest and regulatory clarity, leading to a disconnect between potential and actual market performance [3][8] - The market's current valuation of cryptocurrencies, particularly altcoins, appears to be based on speculative trading rather than sustainable economic value [15][23] Market Dynamics - Despite significant developments such as the launch of ETFs and increased institutional participation, the market has not seen corresponding price increases, indicating that positive news may already be priced in [3][6] - The total market capitalization of altcoins is approximately $1.5 trillion, but their underlying narratives are considered weaker compared to Bitcoin, which has a market cap of about $1.9 trillion [4][5] Valuation Concerns - Ethereum's market cap is around $400 billion, with annual revenue from fees and MEV estimated at $1-2 billion, leading to a price-to-sales ratio of 200-400 times, which is deemed unsustainable [13][14] - Solana, with a market cap of approximately $75-80 billion, generates over $1 billion in annual revenue, resulting in a more reasonable price-to-sales ratio of 20-60 times [13][14] Revenue Sustainability - The income generated by major Layer 1 blockchains is characterized as highly cyclical and speculative, akin to casino revenues, rather than stable, predictable cash flows [10][14] - The industry must transition from speculative trading to generating real, recurring economic value to justify current valuations [15][23] Future Outlook - The cryptocurrency sector is still in its early stages, but there is a pressing need to focus on real user adoption and sustainable business models rather than speculative trading [17][21] - The next decade may see significant opportunities in integrating cryptocurrency technology into established businesses, provided it can demonstrate cost efficiency and improved functionality [20][22]

Market Overview - The potential end of the government shutdown is creating optimism in the markets, with the NASDAQ and S&P 500 showing early gains of approximately 1.5% and 1% respectively [1][2] - AI stocks, particularly Nvidia and Palantir, experienced significant losses last week, shedding over $820 billion in market value, but are seeing a rebound with Nvidia up nearly 4% at the open [1][2][12] - Bitcoin is also recovering, up about 2.7% at the open after a month-long pullback of over 6% [1][2] Economic Data and Federal Reserve - A new 31-page bill to end the government shutdown was advanced by the Senate, indicating a possible resolution soon, which could lead to the release of delayed economic data [1][2] - The upcoming economic data, particularly employment reports, is expected to be crucial for the Federal Reserve's decision-making regarding interest rates [2][3] - Analysts anticipate that the unpublished September employment report and October payroll data could be released soon if the shutdown ends, with significant implications for the Fed's rate decisions [2][3] AI Sector Insights - The AI sector is under scrutiny following a major sell-off, with concerns about overvaluation and the impact of automation on job markets [2][4][5] - Nvidia's earnings report on November 19 is viewed as a critical catalyst for the AI sector, with expectations of strong growth despite supply chain constraints [12][13] - CoreWeave, another key player in the AI space, is set to report earnings, and its performance is seen as a litmus test for AI infrastructure demand [22][29] Consumer Behavior and Economic Disparities - The stock market's gains have not translated equally across income levels, with a significant portion of wealth concentrated among higher-income households [34][35] - The K-shaped recovery is evident, with lower-income groups facing higher unemployment rates and economic pressures, while wealthier households benefit from stock market gains [36][37] - Retail strategies are adapting to these disparities, with companies like McDonald's successfully targeting lower-income consumers through value offerings [40][41]

Financial Data and Key Metrics Changes - In Q3 2025, total billings were $89.2 million, representing a 20.3% decrease year-over-year due to content restrictions impacting budget sizes [18] - Revenue decreased by 22.4% to $52.0 million, driven by the decrease in billings [19] - Adjusted contribution was $30.0 million, down 17.5% from the prior year, but the margin as a percentage of revenue increased to 57.7%, up 3.5 percentage points [20] - Adjusted EBITDA was positive at $3.2 million, an increase of $5.0 million year-over-year [20] - Operating cash flow was positive at $1.8 million, while free cash flow was negative at $2.7 million, showing an improvement of $1.2 million from the prior year [21] Business Line Data and Key Metrics Changes - U.S. revenue, excluding Bridge, decreased by 28% due to lower billings stemming from content restrictions [19] - Bridge revenue decreased by 15% due to the loss of a major account in previous quarters [20] - The U.K. business showed strength with a 22% revenue growth year-over-year, driven by higher billings and increased supply [11][19] Market Data and Key Metrics Changes - The company experienced a significant increase in billings from new merchants, including a large athletic apparel brand [20] - The number of MQUs (Monthly Active Users) increased by 21% to 230.3 million, driven by the full ramp of new FI partners [21] - APU (Average Price per User) was $0.11, down 31% year-over-year due to content restrictions [21] Company Strategy and Development Direction - The company plans to solidify its foundation and grow its commerce media platform in 2026, focusing on expanding its CRP partner cohort and strengthening existing FI partnerships [17] - The strategy includes unlocking increased advertiser budgets by delivering differentiated products such as omnichannel performance [17] - The company aims to replace lost supply through new partnerships and increase engagement with existing partners [23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged headwinds from the largest FI partner blocking advertiser content but noted that they were able to mitigate a significant portion of the drop due to the larger network [4][6] - The outlook for Q4 includes expected billings between $86 million and $96 million, with a negative year-over-year decrease of 26% to 17% [22] - Management expressed confidence in returning to growth and achieving profitability once current headwinds are navigated [27] Other Important Information - The company fully paid off $46 million in convertible notes and reduced its workforce by 30% to ensure long-term financial health, expecting annualized cash savings of $26 million [16][17] - The company is focusing on strategic pricing decisions to drive incremental spend from advertisers while remaining competitive in the market [25] Q&A Session Summary Question: Billing margins commentary - Management explained that the decrease in billing margins in Q3 was primarily due to supply changes from the largest FI partner, but margins improved by the end of the quarter and are expected to continue improving [30][31] Question: Guidance on adjusted EBITDA range - Management clarified that the larger range in adjusted EBITDA compared to adjusted contribution is due to top-line performance and margin fluctuations, with operating expenses expected to be stable [32][33]

odds for top performer for the rest of 2025 on kalshi are mispriced.bitcoin leads with 35%, ripple close at 32%, eth at 27%imo, it's ETH. the ticker is ETH https://t.co/OfUkwRvrD5 ...

Core Insights - Thumzup Media Corporation has appointed Chris Ensey to its Board of Directors, effective October 14, 2025, as the company prepares for its merger with Dogehash Technologies, Inc. [1][4][8] - Ensey brings over two decades of experience in technology, cybersecurity, and data center development, which positions him well to guide Thumzup's growth [2][3][5]. Company Developments - The appointment of Ensey is seen as pivotal for Thumzup as it transitions into a diversified digital innovation enterprise [1][4]. - Thumzup is expanding its treasury strategy beyond Bitcoin to include other leading cryptocurrencies such as Dogecoin, Litecoin, Solana, Ripple, Ether, and USD Coin, reflecting its commitment to financial agility and innovation [6]. Leadership and Expertise - Ensey has a strong background in blockchain operations and risk management, having previously served as CEO and COO of Riot Blockchain, where he led strategic expansion during a dynamic phase of the crypto market [3][8]. - His experience includes significant roles in cybersecurity and infrastructure programs at major firms like IBM and SafeNet, which will enhance Thumzup's capabilities in executing its post-merger strategy [3][5]. Strategic Vision - Thumzup's CEO, Robert Steele, emphasized that Ensey's expertise aligns with the company's vision as it advances towards the DogeHash merger and aims to expand its presence in the digital asset ecosystem [4][5]. - Ensey expressed enthusiasm about shaping the future of digital marketing and crypto assets, indicating a focus on uniting technology, creativity, and financial innovation [5].