# Сопутствующие статьи по теме Capital

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Capital", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Ending 'Subsidized Growth': The Logic of Ultimate Capital Efficiency Behind Berachain's 'Fiscal' Reform

Berachain has implemented a major reform of its Proof-of-Liquidity (PoL) mechanism, reducing the annual inflation rate of its non-transferable governance token $BGT from 8% to 5%—a 46% cut in emissions. This move, described as a "fiscal reform," signals the end of the initial subsidy-driven growth phase and a shift toward a more capital-efficient economic model. The update also involves removing around 200 underperforming reward vaults and introducing stricter, performance-based criteria for vault eligibility. Key tokens in the PoL system include $BERA (gas token), $HONEY (native stablecoin), and $BGT (governance token). The reforms aim to enhance the value and utility of $BGT by directing incentives toward protocols that demonstrate real user activity, sustainable demand, and measurable contributions to the ecosystem—such as boosting transaction volume or deepening liquidity. This restructuring is designed to prioritize quality over quantity, encouraging projects with stronger product-market fit and business models. By making $BGT emissions more scarce and targeted, Berachain aims to build a self-sustaining economy where incentives function as productive capital rather than subsidies, ultimately supporting long-term growth and value creation for token holders.

marsbit03/10 04:32

Ending 'Subsidized Growth': The Logic of Ultimate Capital Efficiency Behind Berachain's 'Fiscal' Reform

marsbit03/10 04:32

‘Unlock for tokenization? ’- OCC clarifies capital rules for tokenized securities

U.S. banking regulators, including the OCC, Federal Reserve, and FDIC, have jointly clarified that tokenized securities will receive the same capital treatment as traditional securities, emphasizing a technology-neutral approach. This means tokenized stocks can serve as collateral if they meet bank criteria. Industry leaders hailed the move as a significant unlock for tokenization, laying groundwork for on-chain capital markets. Adoption has surged, with a 47% increase in holders to 184k in early 2026 and market cap exceeding $1 billion. However, aspects like settlement and custody rules remain unresolved, and tokenized securities remain a point of contention in broader crypto legislation.

ambcrypto03/06 19:01

‘Unlock for tokenization? ’- OCC clarifies capital rules for tokenized securities

ambcrypto03/06 19:01

Four Wars, One Logic: How Capital Reshapes Asset Prices in Conflict

The article analyzes how capital markets react to geopolitical conflicts through the lens of four major wars over the past 36 years: the 1991 Gulf War, the 2003 Iraq War, the 2022 Russia-Ukraine conflict, and the current Middle East tensions. It identifies a recurring pattern: markets fear uncertainty most, leading to surges in oil and gold prices and stock sell-offs during pre-conflict phases. However, once conflicts begin and outcomes become predictable, markets often reverse—oil and gold retreat while equities rebound sharply. Key insights include: - Markets discount uncertainty rather than conflict itself. - Commodity spikes are often temporary unless supply chains are fundamentally disrupted (as in Ukraine’s case). - Equities tend to bottom when conflict erupts, validating the Wall Street adage "buy when cannons roar." - Crypto behaves more like a high-risk asset (correlated with tech stocks) than a safe haven. The article advises defensive strategies: holding cash, hedging with gold/energy ETFs, focusing on broad equity indices, avoiding leverage, and resisting speculative bets. It emphasizes capital preservation over profit-seeking in volatile times.

比推03/06 06:14

Four Wars, One Logic: How Capital Reshapes Asset Prices in Conflict

比推03/06 06:14

The Great Migration of Mining Companies: Some Already Hold $12.8 Billion in AI Orders

Bitcoin mining companies are undergoing a massive structural shift toward AI and high-performance computing (HPC), driven by compressed mining profits and the lure of massive AI infrastructure contracts. With Bitcoin’s mining difficulty rising and profitability declining, miners are leveraging their existing assets—power contracts, land, cooling systems, and data centers—to pivot into AI compute provisioning. Key players like TeraWulf have secured over $12.8 billion in HPC contracts, while IrisEnergy holds a $9.7 billion deal with Microsoft. Other firms, including Hut8, CipherDigital, and CoreScientific, have also announced multi-billion dollar AI agreements. Some, like BitDigital, are exiting Bitcoin mining entirely to focus on AI and Ethereum infrastructure. Financial reports show a clear trend: AI/HPC revenue is becoming a major income source, sometimes surpassing mining. Capital markets are selective, favoring companies with strong execution, resource advantages, and strategic positioning within the AI supply chain. The migration is accelerating—miners must adapt to the new reality or risk obsolescence.

marsbit03/06 05:58

The Great Migration of Mining Companies: Some Already Hold $12.8 Billion in AI Orders

marsbit03/06 05:58

The Great Migration of Mining Companies: Some Already Hold $12.8 Billion in AI Orders

Driven by rising Bitcoin mining difficulty, shrinking profits, and extreme capital pursuit of AI, major crypto mining firms are collectively pivoting towards AI and high-performance computing (HPC). They leverage existing assets—power, land, cooling systems, and data centers—to secure massive AI compute orders. Key catalysts include Bitcoin’s hashprice dropping to multi-year lows, pushing firms like Bitdeer to sell all BTC holdings and NFN8 into bankruptcy. Conversely, companies are securing enormous contracts: TeraWulf holds a $12.8B HPC deal, IrisEnergy a $9.7B order with Microsoft, and Hut8 a $7B agreement. Others like CipherDigital ($5.5B with AWS) and CoreScientific ($10B+ with CoreWeave) are rebranding and expanding data centers. Q1 2026 earnings show AI/HPC revenue now constitutes 40%-60% for some. While firms like Marathon Digital remain committed to Bitcoin long-term, others like BitDigital have fully exited BTC mining for ETH and AI. Market sentiment is volatile but selective, with capital backing execution-ready firms with strong power contracts and scalability. The migration is structural: adapt to AI or risk obsolescence.

Odaily星球日报03/06 05:48

The Great Migration of Mining Companies: Some Already Hold $12.8 Billion in AI Orders

Odaily星球日报03/06 05:48

Capital Ignition: The AI Race Behind OpenAI's Mega Financing

OpenAI's record-breaking financing round signals a fundamental shift in the global AI industry, moving beyond technological competition into a phase of heavy capital博弈. This marks the transition of the large model era into a stage dominated by capital-intensive strategies. Originally a mission-driven nonprofit, OpenAI restructured into a capped-profit entity to attract commercial capital while retaining its core ethos. Its latest funding involves key players like Amazon, Nvidia, and SoftBank, transforming OpenAI into a compute infrastructure platform rather than just a model company. The competitive landscape is analyzed through comparisons: Google relies on internal ecosystems and self-developed chips; xAI leverages social media integration; Anthropic prioritizes safety with backing from Amazon and Google; and Meta pursues open-source expansion. Two technical paths emerge—scale-first (requiring continuous capital) and efficiency-optimization (focused on cost reduction). The soaring industry barriers, including massive GPU demands and billion-dollar compute costs, may lead to a highly centralized AI structure with few base model providers. OpenAI’s commercialization through API services and enterprise subscriptions faces challenges in balancing profitability against soaring compute investments. Ultimately, this financing reflects how AI competition has escalated to a strategic national level, involving compute sovereignty and global supply chains. The next five years will determine whether AI becomes a monopolized super-infrastructure or maintains an open, innovative ecosystem.

比推03/03 04:51

Capital Ignition: The AI Race Behind OpenAI's Mega Financing

比推03/03 04:51

When Financing Becomes the Engine: OpenAI's Mega-Funding and the Capital Restructuring and Competitive Divergence of the Global AI Industry

OpenAI's record-breaking financing round signals a fundamental shift in the global AI industry, moving the sector into a capital-intensive phase. Originally a non-profit, OpenAI transitioned to a capped-profit model to sustain massive computational demands, evolving into a hybrid entity balancing mission and commercialization. Key competitors follow divergent paths: Google relies on internal resources and integrated ecosystems; xAI leverages social media integration; Anthropic prioritizes safety with backing from Amazon and Google; and Meta promotes open-source models. OpenAI’s strategy is capital-driven and enterprise-focused, depending heavily on external funding and partnerships with players like Microsoft, Amazon, and Nvidia. The industry is splitting between scale-driven approaches (requiring continuous investment) and efficiency-focused innovation. High computational costs—spanning GPUs, energy, and capital—are raising entry barriers, potentially leading to a centralized structure with few foundational model providers and many application-layer companies. OpenAI’s revenue models include API services and enterprise solutions, but sustainability depends on whether income can offset soaring compute expenses. Geopolitical factors like chip export controls and data policies will further shape competition. The central question remains whether AI will become a monopolized infrastructure or foster an open, innovative ecosystem. OpenAI’s funding moves are redefining industry boundaries and power structures.

marsbit03/03 04:18

When Financing Becomes the Engine: OpenAI's Mega-Funding and the Capital Restructuring and Competitive Divergence of the Global AI Industry

marsbit03/03 04:18

When OpenClaw Founder Advises Young People to Stay Away from Crypto

A prominent AI founder, Peter Steinberger of OpenClaw, recently advised young people to "not waste time on crypto," a statement that resonated deeply and sparked self-reflection within the cryptocurrency industry. This sentiment highlights a growing anxiety: crypto may no longer be the optimal path for the next generation. The article details a significant migration of talent, capital, and attention from crypto to AI. Key industry figures, including Cobo's CEO Shenyu and Multicoin Capital's Kyle Samani, are publicly focusing on or transitioning to AI. Native crypto venture capital firms like Paradigm are also raising new funds dedicated to AI and robotics, signaling a strategic shift as the crypto sector faces a downturn in innovative, high-potential early-stage projects. Furthermore, the crypto community's engagement with AI has evolved from merely creating crypto-themed AI memes to genuinely adopting AI tools like OpenClaw to enhance personal productivity. This shift is driven by AI's superior efficiency gains and its current status as a source of technological excitement, filling a void left by a crypto market lacking in native innovation and significant wealth effect. The piece concludes that the core issue is a reallocation of time and resources. In an era where AI is dramatically compressing the time required to solve problems and generate output, the future may belong to those who focus on building uniquely human skills: judgment, creativity, and the pursuit of meaning beyond mere efficiency and profit.

Odaily星球日报03/01 14:30

When OpenClaw Founder Advises Young People to Stay Away from Crypto

Odaily星球日报03/01 14:30

When the Founder of OpenClaw Advises Young People to Stay Away from Crypto

Peter Steinberger, founder of the popular AI product OpenClaw, recently advised young people to “not waste time on cryptocurrency,” sparking widespread discussion and self-reflection within the crypto community. His comments highlighted a growing anxiety: crypto may no longer be the most promising path for the next generation. This sentiment is reflected in several ongoing shifts. Key figures in crypto, such as Cobo CEO Shenyu, are increasingly focusing on AI, with some like zkSync’s Anthony Rose and Multicoin Capital’s Kyle Samani publicly transitioning to AI-related ventures. Established crypto-native VC firms like Paradigm are also raising new funds aimed at AI and robotics, signaling a strategic reallocation of capital amid a slowdown in high-quality crypto investment opportunities. Moreover, the crypto community’s attention is shifting from mere speculative interest in AI-themed tokens to genuine engagement with AI tools like OpenClaw. Crypto influencers are sharing practical AI workflows and hosting well-attended offline events focused on AI agents and applications. The underlying reasons include shrinking alpha in crypto, a lack of groundbreaking innovation, and AI’s compelling utility in enhancing personal productivity. As AI accelerates problem-solving and reduces manual effort, it offers a more tangible value proposition for technically-minded individuals. The article concludes that in an era of AI-driven efficiency, what may truly distinguish individuals are creativity, independent thinking, and the pursuit of meaning beyond pure financial gain.

marsbit03/01 12:39

When the Founder of OpenClaw Advises Young People to Stay Away from Crypto

marsbit03/01 12:39

Basel Banking Standards Vs Bitcoin: Strategy CEO Blasts 1,250% Risk Weight

Strategy CEO Phong Le and other industry experts are criticizing the Basel banking standards' treatment of Bitcoin, which assigns it a 1,250% risk weight. This classification makes it prohibitively expensive for regulated banks to hold or custody Bitcoin, as they must set aside $1 in capital for every $1 of exposure. In contrast, assets like cash, physical gold, and U.S. Treasuries carry a 0% risk weight. Critics argue this is a major policy error that misprices risk, discourages bank involvement in digital assets, and pushes activity toward riskier non-bank or offshore entities. They call for a review of these rules, especially if the U.S. aims to become a global crypto leader.

bitcoinist02/21 09:02

Basel Banking Standards Vs Bitcoin: Strategy CEO Blasts 1,250% Risk Weight

bitcoinist02/21 09:02

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