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This week, we’re keeping an eye on three major stocks that are reporting earnings. Two of them have been beaten down and are looking to turn things around, while the third has had a tremendous run and is looking to keep its extraordinary momentum going. Let’s take a closer look at each one.

Could FedEx Be Ready for a Comeback?

FedEx (FDX) had a rough go last quarter, missing its EPS estimates and slashing its full-year outlook thanks to softening demand and losing a USPS contract. That combination of earnings shortfall and downgraded guidance spooked investors, with FDX’s stock price tumbling more than 10% in the days following the release. After “Liberation Day,” share prices traded even lower.

FedEx continues to take steps to cut costs and segment spinoffs to streamline and turn the stock around. Can FedEx do it fast enough? Any positive forward guidance will be critical to drive a sustained rebound in the stock’s price.

From a technical perspective, FDX shares have bounced back to the levels traded after its last quarterly results. The stock price is coiling between its longer-term downtrend and near-term uptrend from the lows.

The good news is that shares have recaptured their 50-day moving average; the bad news is that price is bumping up to its longer-term downtrend. Something’s got to give.

  • The average move post-earnings is +/-5.6%. 
  • An upward move should break it out of this downtrend and set shares on a path towards its 200-day moving average, which is just under $255.
  • A downward move would break the near-term downtrend, but could pause around the 50-day moving average and a consolidation area around $215.

Playing this stock into earnings has been a fool’s game. Wait for the dust to settle before jumping in. That could mean:

  • A break below the 50-day moving average and a move to the $200 level.
  • A gap up, which could mean the end of this downtrend and should be chased to the 200-day moving average.

Micron: Time for a Breather?

Micron Technology (MU) has been on fire since selling off during the “Liberation Day” chaos. It broke below a major support area, but quickly recaptured it.

The pendulum price action was a wild swing in the opposite direction. MU’s stock price broke out above a major resistance area and is in a precarious position as Micron heads into Wednesday’s quarterly results.

MU’s stock price is extremely overbought and may struggle to keep this upward momentum going. We have seen other tech stocks, such as Broadcom (AVGO) and CrowdStrike (CRWD), experience similar moves going into earnings. Both stocks reported solid quarters and guided higher, yet sold off.

Given the 100% gain from its April 7 lows, the overbought condition, and natural support areas (old resistance) at the $114 area, a pullback to here seems logical. The area below $114 to watch is the rising 200-day moving average, which is around $96 and seems like a better entry point than chasing the stock now.

Good earnings numbers should see a small fade to the $114 area and then hold. That is what happened in other stocks with big run-ups into earnings: a fade back to the recent breakout. If Micron reports numbers below estimates and/or weak guidance, expect a deeper pullback to the 200-day, which should act as strong support if tested again. Any further rally should be faded as MU nears $150 and all-time highs. That could put its relative strength index (RSI) into the 90s; historically, that doesn’t hold for very long.

Nike (NKE): Waiting for a Spark

Nike (NKE) has traded lower after eight of its last nine earnings reports, including the last six in a row. Shares are still down 66% from their 2021 all-time highs and, year-to-date, are lower by 21%.

It has been a tough environment for the iconic sports brand. Shareholders have been anxiously waiting for new management to turn things around, but high inventories and now tariff concerns have stymied any sense of a sustainable rally.

Technically speaking, things aren’t looking good. Investors are looking for any sign of a turnaround or a tradable bottom. While there has been minor progress coming off the lows, there’s nothing to indicate the stock is back.

Momentum indicators have turned bearish. The RSI has crossed below its midline, while the moving average convergence/divergence (MACD) had a bearish crossover.

Entering the week, the stock is at a good support level around $59, which brings the 50-day moving average and recent lows into play. While NIKE’s stock price has a lot to reverse and looks tempting, there is still much overhead resistance to give the all clear and jump into the trade, based on this week’s earnings. Positive news could see a tradeable upside to its 200-day moving average, which should then be faded.

For this stock to finally reverse, it needs more time and a few quarters of solid growth. It may be wiser to buy shares on a breakdown towards its lows around $52. If that occurs, then expect it to hold and rally back over the weeks ahead of its next quarterly result. 

The Bottom Line

This week’s earnings action is a good reminder to stay patient and be selective. Watch how these stocks react after earnings rather than trying to forecast the move. Sometimes, waiting for confirmation is the best strategy, especially when markets are so reactive.


In this video, Mary Ellen opens with a look at the S&P 500, noting that the index remains above its 10-day average despite a brief pullback—a sign of healthy market breadth. She points to ongoing sector leadership in technology, while observing that energy and defense stocks are breaking higher and offering fresh opportunities. From there, Mary Ellen shares stocks that experienced strong earnings, talks AI-related stocks that are on the move higher, and looks at winners and losers following the passage of the Genius Act.

This video originally premiered on June 20, 2025. You can watch it on our dedicated page for Mary Ellen’s videos.

New videos from Mary Ellen premiere weekly on Fridays. You can view all previously recorded episodes at this link.

If you’re looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.

Washington Commanders quarterback Jayden Daniels had one of the greatest rookie seasons by a quarterback in recent memory, and his team’s addition of wideout Deebo Samuel might make his 2025 stats look even better.

During an appearance as a speaker at Fanatics Fest over the weekend, Daniels expressed his excitement to join forces with the speedy receiver, whom the Commanders traded for in March. If things work out as the second-year quarterback hopes, he will get the double benefit of more passing yards for less effort.

‘I’m excited to throw him a little screen and hopefully on the stat sheet it says a touchdown for 80 yards and I didn’t have to do any of the work,’ Daniels joked in a video posted by The Sports Place.

There is some truth in Daniels’ joke.

In 2024, Samuel averaged 8.3 yards after catch per reception – the third-highest average of any wide receiver in the NFL. Only Denver Broncos wideout Marvin Mims and the Detroit Lions’ Jameson Williams were better after the catch, according to Pro Football Reference.

That’s a skill set the Commanders will be happy to have in their passing offense to complement that of lead receiver Terry McLaurin.

McLaurin earned his second career Pro Bowl nod in 2024 as he continued to find success over the middle and in deep parts of the field. According to Pro Football Focus, his average depth of target was 13.9 yards – 14th-highest in the NFL – but his yards after catch average was 3.6 – 59th in the league.

Samuel, meanwhile, had an average depth of target of 6.9 yards per PFF (89th) but averaged his aforementioned 8.3 yards after catch per reception to make up for it.

He joins the Commanders with hope on both sides that a change of scenery will help enable him to return to his 2021 levels of production, when he caught 77 passes for 1,405 yards – leading the league with his 18.2 yards per reception. In the three years since, Samuel has not surpassed 900 receiving yards.

In 2024, Daniels threw for 3,568 yards on a 69% completion rate with 25 touchdowns and nine interceptions. He led Washington to a 12-5 record during the regular season and took them to the NFC championship game, where they lost to the Philadelphia Eagles, the eventual Super Bowl champions.

Samuel finished the 2024 season with 51 catches for 670 yards and three touchdowns in the air. He also had 42 carries for 136 rushing yards and an additional touchdown on the ground.

All the NFL news on and off the field. Sign up for USA TODAY’s 4th and Monday newsletter. Check out the latest edition: The countdown to training camp is on.

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The lawsuit, obtained by USA TODAY Sports, was filed in Harris County, Texas. The plaintiff, Marisa Watley, demands a jury trial and economic, compensatory, and punitive damages.

According to the 18-page filing, Watley says she attended the New Year’s Eve party with two of her friends and that she was sexually assaulted while unconscious by Justice Armani Blackburn, who is Harden’s nephew.

Watley says her friends were later removed by Harden’s security, even though she was still inside the residence. The friends then contacted Watley’s sister, who in turn contacted Harden’s sister, who is the mother of Blackburn. The lawsuit says the sister submitted a photo of Watley to Harden’s security, who said that the woman inside was not Marisa Watley, despite the lawsuit alleging that Watley was indeed in the mansion at that time.

The negligence claim against Harden stems from the complaint alleging the conduct of Harden’s in-home security, which they say failed to act responsibly in response to outside calls for help and could have prevented the sexual assault. The lawsuit also says that Harden is ‘vicariously liable for the actions of his guards and their corporate employer,’ who were also named as defendants in the case.

“Since New Year’s Day, when I reported the rape by Mr. Blackburn to the police, I have remained puzzled by how Mr. Harden’s security behaved that day—it is painful to imagine that this all could have been stopped in time. I hope this complaint pushes security employees generally to act more responsibly when women are in danger,’ Watley said in a statement.

Harden, 35, a 11-time NBA All-Star and six-time first-team All-NBA selection, just completed his second season with the Clippers, averaging 22.8 points, 8.7 assists, and 5.8 rebounds per game.

“Ms. Watley has shown great strength and courage in coming forward to hold Mr. Blackburn and Mr. Harden accountable for what happened to her on New Year’s Day 2025 in Mr. Harden’s mansion.  This rape was immediately reported to the police, and we will bring Mr. Blackburn and Mr. Harden to justice through the civil justice system,’ Watley attorneys, Michael J. Willemin, John S. Crain, and Jay Ellwanger and Kaylyn Betts said in a statement.

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The FIFA Club World Cup was supposed to be a bright light shining on the most popular sport in the world, giving Americans a chance to see the best footballers on Earth on American soil. Well, the bright light part has been true at least. Unfortunately, it’s also a burning light.

Though the Club World Cup has yet to reach the knockout stages, thunderstorms delayed several group stage matches last week, and now blistering heat is taking its toll on the tournament as well, with extreme temperatures causing major concerns for several clubs involved in the tournament.

On Saturday, June 21, Borussia Dortmund manager Niko Kovac told the media that he was ‘sweating like (he’d) just come out of a sauna’ following his team’s victory on TQL Field in Cincinnati. The temperature reached 89.6 degrees Fahrenheit, or 32 degrees Celsius. It was so hot that Dortmund’s subs weren’t even on the field during the game.

But it’s not just TQL that’s feeling the heat. The American Northeast in general has offered difficult conditions for many teams.

The heat wave is supposed to ramp up throughout this week as well. Clearly, the weather concerns that many fans had at the start of the tournament are starting to come to fruition.

Which venues are experiencing issues?

According to CBS News, the heat wave is strongest in the American northeast with some states recording record-high temperatures. Areas in the mid-Atlantic like Maryland and Virginia are also under extreme heat warnings. Meanwhile, states in the Midwest like Illinois, Michigan, and Ohio are facing blazing heat as well.

While other areas further south like Atlanta and Nashville are also suffering the affects of the heat wave, those cities are more used to temperatures in the 90s during the summer.

Here are the Club World Cup stadiums affected most (with the forecast for Tuesday, June 24 according to The Weather Channel)

  • TQL Stadium in Cincinnati – Highs in the mid 90s
  • GEODIS Park in Nashville – Highs in the upper 90s
  • Mercedes-Benz Stadium in Atlanta – Highs in the mid to upper 90s
  • MetLife Stadium in East Rutherford, New Jersey – High of 102 degrees
  • Lincoln Financial Field in Philadelphia – High of 101 degrees
  • Audi Field in Washington, D.C. – High of 101 degrees

The heat wave is expected to persist until the middle of next week in some areas, meaning the Round of 16 knockout matches will likely suffer from similar heat issues.

Will these same problems occur when the U.S. hosts the World Cup?

These heat issues have raised concerns for next year’s big event as well. The United States will host the 2026 World Cup, with the first games kicking off on June 11. Similar heat issues would create a terrible atmosphere for arguably the world’s biggest sporting event.

The New York Times reports that it is highly likely similar heat waves occur when the World Cup begins. Given that there were already struggles with heat during the 2024 Copa America, officials are right to be concerned with how this will affect players and fans. It will only be heightened by the fact that most of the games are scheduled for afternoon start times.

When do the knockout stages begin for the Club World Cup?

The knockout stage begins on Saturday, June 28, with the winners of Group A and Group C taking on the runner-ups in Groups B and D, respectively. Round of 16 matchups will continue through Tuesday, July 1, which could be around the time that the heat starts dying down.

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The worst fears for the Indiana Pacers have come true.

Star point guard Tyrese Haliburton suffered a torn right Achilles tendon in the first quarter of Game 7 of the NBA Finals, the team announced on Monday, June 23. It said surgery was scheduled for later in the day at the Hospital for Special Surgery in New York.

ESPN was first to report the extent of Haliburton ‘s injury.

That means the Pacers must now prepare to be without Haliburton for an extended period of time, possibly even the entire 2025-26 season.

This season, Haliburton averaged 18.6 points, 3.5 rebounds and 9.2 assists – third-most in the NBA. He also led the league in assist-to-turnover ratio (5.61).

He generated one of the most clutch stretches of play in postseason history, hitting a game-winning or game-tying shot in each of Indiana’s four postseason series.

All of which now complicates Indiana’s quest to return to the NBA Finals.

It became apparent immediately after Haliburton sustained the injury that it could be serious. It was a non-contact injury, and after Haliburton fell to the court, his emotional reaction – Haliburton slapped the floor and appeared to shake his head and repeatedly shout ‘no’ – hinted at its severity.

Haliburton scored nine points in just 7:05 of play prior to his injury.

After getting medical attention for several moments, staffers helped Haliburton off the floor, with him not putting any weight on the injured leg. He went into the locker room with a towel draped over his head.

After the game, as players headed back into the Pacers locker room, Haliburton stood outside the room on crutches, greeting his teammates.

‘That’s who he is as a person, a teammate,’ backup point guard T.J. McConnell said after the game. ‘He put his ego aside constantly. He could have been in the locker room feeling sorry for himself after something like that happened, but he wasn’t. He was up greeting us. A lot of us were hurting from the loss and he was up there consoling us. That’s who Tyrese Haliburton is. He’s just the greatest, man.’

Haliburton had been dealing with a right calf strain that he sustained during Game 5, Monday, June 16. He had been listed as questionable heading into each of Games 6 and 7, but he managed to start each.

(This story has been updated with new information.)

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The NASCAR Cup Series is set to debut its inaugural In-Season Challenge, in which 32 drivers are seeded and bracketed into a tournament, like March Madness or a tennis draw.

The In-Season Challenge, which will run for five weeks, is actually a series of individual races within five larger races. The drivers will not only be competing to win the weekly race as they normally would, but they will also be facing off in head-to-head matchups with the goal of finishing better than their opponent in the race and advancing to the next round.

The drivers were seeded based on their finishes at three previous races – at Michigan, Mexico City and Pocono – with the bracket placing the top two seeds on opposite halves of the draw. That means if the tournament holds to form, the No. 1 and No. 2 seeds would not meet up until the final, presuming they both advanced through each round.

The winner of the inaugural In-Season Challenge will take home $1 million.

The first round begins Saturday, June 28 at Echo Park Speedway (formerly Atlanta Motor Speedway) and features 16 head-to-head matchups among the 32 drivers. Beat your head-to-head opponent and you advance to the second round. Sixteen drivers will be eliminated after the first round.

Does that sound complicated? If so, we have you covered with the list of seeds, how the rounds work, every first-round matchup and where and when each of the five In-Season Challenge races will take place.

NASCAR In-Season Challenge seedings

  1. Denny Hamlin, No. 11 Joe Gibbs Racing Toyota
  2. Chase Briscoe, No. 19 Joe Gibbs Racing Toyota
  3. Chris Buescher, No. 17 RFK Racing Ford
  4. Christopher Bell, No. 20 Joe Gibbs Racing Toyota
  5. Chase Elliott, No. 9 Hendrick Motorsports Chevrolet
  6. Ty Gibbs, No. 54 Joe Gibbs Racing Toyota
  7. Ryan Blaney, No. 12 Team Penske Ford
  8. Alex Bowman, No. 48 Hendrick Motorsports Chevrolet
  9. Bubba Wallace, No. 23 23XI Racing Toyota
  10. Kyle Larson, No. 5 Hendrick Motorsports Chevrolet
  11. Michael McDowell, No. 71 Spire Motorsports Chevrolet
  12. John Hunter Nemechek, No. 42 Legacy Motor Club Toyota
  13. Ross Chastain, No. 1 Trackhouse Racing Chevrolet
  14. Zane Smith, No. 38 Front Row Motorsports Ford
  15. Ryan Preece, No. 60 RFK Racing Ford
  16. Kyle Busch, No. 8 Richard Childress Racing Chevrolet
  17. Brad Keselowski, No. 6 RFK Racing Ford
  18. William Byron, No. 24 Hendrick Motorsports Chevrolet
  19. Austin Cindric, No. 2 Team Penske Ford
  20. Erik Jones, No. 43 Legacy Motor Club Toyota
  21. Josh Berry, No. 21 Wood Brothers Racing Ford
  22. AJ Allmendinger, No. 16 Kaulig Racing Chevrolet
  23. Tyler Reddick, No. 45 23XI Racing Toyota
  24. Daniel Suarez, No. 99 Trackhouse Racing Chevrolet
  25. Joey Logano, No. 22 Team Penske Ford
  26. Carson Hocevar, No. 77 Spire Motorsports Chevrolet
  27. Justin Haley, No. 7 Spire Motorsports Chevrolet
  28. Austin Dillon, No. 3 Richard Childress Racing Chevrolet
  29. Ricky Stenhouse Jr., No. 47 Hyak Motorsports Chevrolet
  30. Todd Gilliland, No. 34 Front Row Motorsports Ford
  31. Noah Gragson, No. 4 Front Row Motorsports Ford
  32. Ty Dillon, No. 10 Kaulig Racing Chevrolet

NASCAR In-Season Challenge matchups, rounds

The NASCAR In-Season Challenge puts the 32 drivers in a bracket, which begins with 16 first-round matchups.

The No. 1 seed faces the No. 32 seed in the first round, the No. 2 seed takes on the No. 31 seed, No. 3 matches up with the. No. 30 seed, etc. The losers of the head-to-head matchups will be eliminated, and the 16 winners will advance to the second round, where the winner of the No. 1 vs. No. 32 matchup will face the winner of the No. 16 vs. No. 17 matchup, the winner of the No. 2 vs. No. 31 matchup takes on the winner of the No. 15 vs. No. 18 matchup, etc.

Like March Madness, the tournament will move from a Round of 32 to a Sweet 16 to an Elite Eight to a Final Four and finally a championship race.

  • First round: 32 drivers in 16 head-to-head matchups; 16 drivers eliminated at end of race.
  • Second round: 16 drivers in eight head-to-head matchups; eight drivers eliminated at end of race.
  • Third round: Eight drivers in four head-to-head matchups; four drivers eliminated at end of race.
  • Fourth round: Four drivers in two head-to-head matchups; two drivers eliminated at end of race.
  • Fifth round: Two drivers in a head-to-head matchup; winner wins the in-season challenge.

TOURNAMENT: Full visual NASCAR In-Season Challenge bracket

NASCAR In-Season Challenge first-round pairings

Here are the pairings for the first-round race at Echo Park Speedway (formerly Atlanta Motor Speedway) on Saturday, June 28. The winner of each head-to-head matchup advances to the next round.

Top half of draw

  • No. 1 Denny Hamlin vs. No. 32 Ty Dillon
  • No. 16 Kyle Busch vs. No. 17 Brad Keselowski
  • No. 8 Alex Bowman vs. No. 25 Joey Logano
  • No. 9 Bubba Wallace vs. No. 24 Daniel Suarez
  • No. 12 John Hunter Nemechek vs. No. 21 Josh Berry
  • No. 5 Chase Elliott vs. No. 28 Austin Dillon
  • No. 13 Ross Chastain vs. No. 20 Erik Jones
  • No. 4 Christopher Bell vs. No. 29 Ricky Stenhouse Jr.

Bottom half of draw

  • No. 2 Chase Briscoe vs. No. 31 Noah Gragson
  • No. 15 Ryan Preece vs. No. 18 William Byron
  • No. 7 Ryan Blaney vs. No. 26 Carson Hocevar
  • No. 10 Kyle Larson vs. No. 23 Tyler Reddick
  • No. 11 Michael McDowell vs. No. 22 AJ Allmendinger
  • No. 6 Ty Gibbs vs. No. 27 Justin Haley
  • No. 14 Zane Smith vs. No. 19 Austin Cindric
  • No. 3 Chris Buescher vs. No. 30 Todd Gilliland

NASCAR In-Season Challenge races

All times Eastern

Round 1 — 32 drivers

  • Echo Park Speedway (formerly Atlanta Motor Speedway)
  • Saturday, June 28 | 7 p.m. | TNT, truTV altcast

Round 2 — 16 drivers

  • Chicago street race
  • Sunday, July 6 | 2 p.m. | TNT, truTV altcast

Round 3 — 8 drivers

  • Sonoma Raceway
  • Sunday, July 13 | 3:30 p.m. | TNT, truTV altcast

Round 4 — 4 drivers

  • Dover Motor Speedway
  • Sunday, July 20 | 2 p.m. | TNT, truTV altcast

Round 5 championship — 2 drivers

  • Indianapolis Motor Speedway
  • Sunday, July 27 | 2 p.m. | TNT, truTV altcast

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Here’s a quick recap of the crypto landscape for Monday (June 23) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) is priced at US$102,876, an increase of 4.2 percent in the last 24 hours. The day’s range for the cryptocurrency brought a low of US$100,177 and a high of US$103,154 as the market opened.

Bitcoin price performance, June 23, 2025.

Chart via TradingView.

Crypto markets are bracing for continued short-term volatility, heavily influenced by macro conditions and geopolitical developments, particularly the US-Iran situation. Traders are warning of a potential drop to US$95,000, with some even anticipating US$92,000, as only 3 percent of newer Bitcoin investors are currently profitable.

Despite immediate concerns, analysts remain constructive on Bitcoin’s long-term resilience. Growing structural demand from public entities is solidifying Bitcoin’s role as a strategic reserve. Longer-term metrics suggest 2025 could be the last bullish leg of this cycle, potentially driving Bitcoin prices north of US$200,000.

Over the weekend, Bitcoin fell below the US$100,000 mark for the first time since May following US President Donald Trump’s announcement that the US had bombed three of Iran’s main nuclear facilities.

The airstrikes, which reportedly targeted Fordow, Natanz, and Isfahan, heightened investor risk aversion, triggering over US$1 billion in liquidations across crypto markets. Derivatives data from Coinglass shows that US$915 million of long positions and US$109 million worth of shorts were wiped out.

Ethereum (ETH) closed at US$2,308.07, a 6 percent increase over the past 24 hours. Its lowest valuation on Monday was US$2,206.39, and its highest valuation was US$2,312.59, minutes before the closing bell.

Altcoin price update

  • Solana (SOL) was priced at US$139, up 8.1 percent over 24 hours and its highest valuation for Monday. SOL experienced a low of US$131.53 during the day.
  • XRP also reached its highest daily valuation at the closing bell. It traded at US$2.05 as markets wrapped, up by 5 percent in 24 hours. The cryptocurrency’s lowest valuation was US$1.97.
  • Sui (SUI) is trading at US$2.61, showing an increaseof 11.7 percent over the past 24 hours. Its lowest valuation was US$2.42, and it reached its highest valuation at the closing bell.
  • Cardano (ADA) is priced at US$0.5527, up 5.7 percent in 24 hours to its highest value. Its lowest valuation on Monday was US$0.5315.

Today’s crypto news to know

Pompliano launches US$1 billion Bitcoin treasury firm

Crypto investor Anthony Pompliano has unveiled a new Bitcoin treasury company, ProCap Financial, via a merger with Columbus Circle Capital I, a special purpose acquisition company.

The venture will hold up to US$1 billion in Bitcoin, and aims to follow in the footsteps of Michael Saylor’s Strategy (NASDAQ:MSTR), a software firm turned crypto juggernaut.

ProCap has already raised US$500 million in equity and secured a US$250 million convertible note in what Pompliano has called the largest-ever raise for a treasury-focused crypto firm.

Unlike traditional holdings strategies, ProCap intends to actively generate revenue from its Bitcoin through lending, derivatives and financial services.

Metaplanet buys US$117 million worth of Bitcoin

Tokyo-based Metaplanet (TSE:3350,OTCQX:MTPLF) has added 1,111 BTC to its reserves, spending roughly US$117 million during a weekend dip sparked by US-Iran tensions.

The firm purchased the Bitcoin at an average price of US$105,681 per coin, increasing its total holdings to 11,111 BTC valued at over US$1.1 billion. Metaplanet has embraced a bold Bitcoin-first treasury approach, positioning itself as Asia’s Strategy equivalent in the corporate crypto playbook.

OKX considers US IPO

Cryptocurrency exchange OKX is reportedly considering an initial public offering (IPO) in the US, according to an interview the Information conducted with an executive from the firm on Sunday (June 22).

“We will absolutely consider an IPO in the future,” Haider Rafique, chief marketing officer, told the outlet, without providing a potential launch date. “If we go public, it would likely be in the U.S.”

The exchange resumed operations in the US in April after the US Department of Justice found that it had actively pursued US customers without the required license. OKX pleaded guilty to one count of operating an unlicensed money transmitting business in February and agreed to pay over US$500 million in penalties.

Sequans plans Bitcoin treasury raise

Sequans Communications (NYSE:SQNS), an IoT semiconductor developer, is planning a US$384 million capital raise for a strategic Bitcoin treasury. This move is one of the latest in a growing trend of companies using Bitcoin as a reserve asset, which crypto analyst Adam Back has dubbed the “new ALT SZN for speculators.’

The company issued a press release announcing the endeavor on Monday.

The raise includes US$195 million in equity and US$189 million in convertible debentures. The company is also partnering with Swan Bitcoin for its Bitcoin treasury management. CEO Georges Karam said this reflects “strong conviction in bitcoin as a premier asset and a compelling long-term investment.”

Fiserv to roll out Stablecoin platform for 3,000 US banks

Payments giant Fiserv (NYSE:FISV) is entering the stablecoin market with FIUSD, a new digital dollar offering aimed at thousands of main street banks. The platform will allow Fiserv’s banking clients — estimated at 3,000 institutions — to launch their own branded stablecoins or integrate FIUSD into their operations.

Built on top of Fiserv’s existing payments infrastructure, the platform will be interoperable with major blockchains and other stablecoins, including Circle’s (NYSE:CRCL) USDC and Paxos.

The platform is set to go live by the end of the year.

Canaan completes US pilot production, exits AI business

In a statement sent to Cointelegraph on Monday morning, a representative from Canaan (NASDAQ:CAN), a tech firm primarily known for designing and producing application-specific integrated circuits (ASICs) for Bitcoin mining, said it “has successfully completed a pilot production run in the US.” Canaan also announced the discontinuation of its artificial intelligence semiconductor business in what it said is “a strategic realignment aimed at sharpening its focus.”

“I believe that doubling down on our core strengths in crypto infrastructure and Bitcoin mining is the most strategic path forward for Canaan,” said Nangeng Zhang, chairman and CEO of Canaan.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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