Crypto Markets Move as Oil Drops and Companies Shift

Digital Currencies Surge

• Bitcoin: Up to ~$82,300
• Ethereum: Modest gain
• Zcash, Toncoin & Dash: Over 20% jump each

Oil Prices Drop

• Fell below $90/barrel, down ~14%, after U.S. hints at progress on an Iran deal.

Coinbase Workforce Cuts

• 14% reduction to trim costs amid crypto downturn and AI impact.
• Plan: streamline leadership, merge engineering/design/product teams, use AI for 50% of code writing.

Andreessen Horowitz Crypto Fund

• Raised $2.2 billion for its fifth vehicle.
• Focus: infrastructure-to-product, stablecoins & resilient financial services.

Strategy’s Record Loss

• Quarterly loss: $12.5 billion after Bitcoin fell from ~$87,000 to $68,000.
• Added ~90,000 BTC in the quarter; holds large position.
• Founder hinted at a small Bitcoin sale to test market.

Meme-Coin Lawsuit

• Pop star sued over a meme‑coin that collapsed from $200 million to ~1 million.
• Allegations: misleading claims, undisclosed market‑maker deals.

Other Highlights

• Major securities firm acquires transfer agent for $4.2 billion.
• New futures contracts tracking Bitcoin volatility launched.
• Continued growth in traditional and crypto-focused investment vehicles.