In today’s episode of Crypto Daily Download, Jane King covers significant developments in the cryptocurrency and blockchain space.
First up, Morgan Stanley is making waves by launching cryptocurrency trading on its E-Trade platform, offering clients a competitive pricing model at 50 basis points on each transaction. This move is part of their broader strategy to bridge traditional finance with decentralized finance, positioning themselves against competitors like Coinbase, Robinhood, and Charles Schwab.
Jane also highlights Core Scientific’s plans to expand its Muskogee, Oklahoma campus to a staggering 1.5 gigawatts of gross power capacity. This includes a notable acquisition of Polaris, which is expected to accelerate their growth timeline significantly.
In the world of Bitcoin mining, Jane discusses stock surges for Hut8 and Riot Platforms. Hut8’s stock jumped 35% after securing a massive 15-year lease with Riot Platforms, while Riot’s stock rose 13% as they expanded their Rockdale footprint. Both companies are shifting their focus from Bitcoin mining to hyperscale AI workloads, which promise higher returns per megawatt.
Lastly, Jane touches on Reid Hoffman’s insights regarding the potential resurgence of NFTs. He believes that as AI agents become more prevalent, there will be a growing need for crypto-based trust systems to facilitate transactions across the open Internet.
Jane King with the latest from the NYSE.