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Bitcoin rose above $100,000 for the first time on Thursday as the election of Republican Donald Trump as president of the United States spurred expectations that his administration will create a friendly regulatory environment for cryptocurrencies.

Bitcoin has more than doubled in value this year and is up about 45% in the four weeks since Trump’s sweeping election victory, which also saw a slew of pro-crypto lawmakers being elected to Congress.

It last traded at $100,027 as of 0240 GMT, up 2.2% on the previous session, after earlier rising as high as $100,277.

“We’re witnessing a paradigm shift. After four years of political purgatory, bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream,” said Mike Novogratz, founder and CEO of US crypto firm Galaxy Digital.

“This momentum is fueled by institutional adoption, advancements in tokenization and payments, and a clearer regulatory path.”

More than 16 years after its creation, bitcoin appears on the cusp of mainstream acceptance, despite naysayers and a history of controversies.

“Bitcoin crossing $100,000 is more than just a milestone; it’s a testament to shifting tides in finance, technology, and geopolitics,” said Justin D’Anethan, a Hong Kong-based independent crypto analyst.

“The figure not that long ago dismissed as fantasy, stands as a reality.”

Trump embraced digital assets during his campaign, promising to make the United States the “crypto capital of the planet” and to accumulate a national stockpile of bitcoin.

Crypto investors see an end to increased scrutiny under US Securities and Exchange Commission Chair Gary Gensler, who said last week he wouldstep downin January when Trump takes office.

On Wednesday, Trump said he would nominate Paul Atkins to run the Securities and Exchange Commission. Atkins, a former SEC commissioner, has been involved in crypto policy as co-chair of the Token Alliance, which works to “develop best practices for digital asset issuances and trading platforms,” and the Chamber of Digital Commerce.

A slew of crypto companies including Ripple, Kraken and Circle arejostlingfor a seat on Trump’s promised crypto advisory council, seeking a say in his planned overhaul of US policy, according to several digital asset industry executives.

Trump’s businesses may also have a stake in the sector.

He unveiled a new crypto business, World Liberty Financial, in September.

Although details about the business have been scarce, investors have taken his personal interest in the sector as a bullish signal.

Trump’s social media company is inadvanced talksto buy crypto trading firm Bakkt, the Financial Times reported last week, citing two people with knowledge of the talks.

Trump Media and Technology Group, which operates Truth Social, is close to an all-stock acquisition of Bakkt, according to the FT report.

Billionaire Elon Musk, a major Trump ally, is also a proponent of cryptocurrencies.

Bitcoin’s rebound from a slide below $16,000 in late 2022 has been rapid, boosted by the approval of US-listed bitcoin exchange-traded funds in January this year.

The Securities and Exchange Commission had long attempted to block ETFs from investing in bitcoin, citing investor protection concerns, but the products have allowed more investors, including institutional investors, to gain exposure to bitcoin.

More than $4 billion has streamed into US-listed bitcoin exchange-traded funds since the election.

“We were trading basically sideways for about seven months, then immediately after November 5, US investors resumed buying hand-over-fist,” said Joe McCann, CEO and founder of Asymmetric, a Miami digital assets hedge fund.

There was a strong debut for options on BlackRock’s ETF,in November with call options – bets on the price going up – substantially more popular than puts. McCann calculated the put to call ratio at about 22 to one.

Crypto-related stocks have soared along with the bitcoin price, with shares in bitcoin miner MARA Holdings,up around 65% in November.

Yet the rise is not without critics.

Two years ago, the industry was wracked by scandal with the collapse of the FTX crypto exchange and the jailing of its founder Sam Bankman-Fried.

The cryptocurrency industry also has been criticized for its massive energy usage, while crypto crime remains a concern, too.

Market participants are keeping a close eye on what happens now that bitcoin has broken above $100,000, with investors and speculators possibly looking to pocket some of their recent gains.

“But once we flush out those sell orders, this could go higher still, and very rapidly,” said Steven McClurg, founder of Canary Capital, a digital assets investment firm.

He said he expects bitcoin’s price to hit $120,000 by Christmas.

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Ozzy Osbourne dies just weeks after farewell show

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Ozzy Osbourne dies just weeks after farewell show

Heavy metal star Ozzy Osbourne has died aged 76, just weeks after reuniting with his Black Sabbath bandmates and performing a huge farewell concert for fans.

In a statement, his family said: “It is with more sadness than mere words can convey that we have to report that our beloved Ozzy Osbourne has passed away this morning. He was with his family and surrounded by love.”

Ozzy Osbourne with his wife Sharon and two of their children Kelly and Jack in September 2015. Pic: AP
Image:
Ozzy Osbourne with his wife Sharon and two of their children Kelly and Jack in 2015. Pic: AP

Latest: Tributes paid to Ozzy Osbourne

As he performed from a throne on stage at Villa Park less than three weeks ago, Osbourne told 42,000 fans: “You’ve no idea how I feel – thank you from the bottom of my heart.”

It was a gig put together with performances from some of his favourite acts, including Metallica and Guns N’ Roses, for the star’s “final bow”.

Osbourne and his fellow original Black Sabbath members – Tony Iommi, Terence “Geezer” Butler and Bill Ward – reunited for the first time in 20 years and were the last to appear on stage for the Back To The Beginning concert on 5 July.

Following his death, Metallica posted a photo on X of the band with Osbourne, along with a broken heart emoji.

Ronnie Wood, of The Rolling Stones, wrote: “I am so very sad to hear of the death of Ozzy Osbourne. What a lovely goodbye concert he had at Back To The Beginning in Birmingham.”

Black Sabbath’s account on X posted a photo of Osbourne from the gig with the caption: “Ozzy Forever!”

And Ali Campbell, singer with Birmingham band UB40, wrote: “Rest In Peace Ozzy. The Prince of Darkness. A true Birmingham legend. The undisputed king of heavy metal. You didn’t just shape a culture, you defined it. You led from the front and never looked back. My thoughts are with Sharon and the entire Osbourne family during this time.”

Ozzy Osbourne in Los Angeles in December 1981. Pic: AP
Image:
Ozzy Osbourne in Los Angeles in December 1981. Pic: AP

Sir Elton John described his “dear friend” as a “huge trailblazer” who “secured his place in the pantheon of rock gods”.

“He was also one of the funniest people I’ve ever met,” the singer also wrote on Instagram.

Born John Michael Osbourne on 3 December 1948 in Aston, Birmingham, he became known as the godfather of heavy metal.

The self-styled Prince of Darkness pioneered the music genre with Black Sabbath before going on to have huge success in his own right. He was famous for hits including Iron Man, Paranoid, War Pigs, Crazy Train and Changes, both with the band and as a solo star.

Black Sabbath’s eponymous debut album in 1970 made the UK top 10 and paved the way for a string of tracks.

(L-R) Tony Iommi, Ozzy Osbourne and Geezer Butler of Black Sabbath pose with their award for Best Metal Performance at the 2014 Grammys
Image:
(L-R) Tony Iommi, Ozzy Osbourne and Geezer Butler of Black Sabbath pose with their award for best metal performance at the 2014 Grammys. Pic: Reuters

They went on to become one of the most influential and successful metal bands of all time, selling more than 75 million albums worldwide.

The singer also found a different kind of fame thanks to noughties MTV reality show The Osbournes, which followed the Birmingham-raised star’s somewhat chaotic life in Los Angeles with wife Sharon and two of their children, Kelly and Jack.

And he was also known for the famous anecdotes of hellraising during his rock star heyday – most infamously, the tale of how he bit the head off a bat while on stage.

Black Sabbath fired Osbourne in 1979 for his legendary excesses, like showing up late for rehearsals and missing gigs.

“We knew we didn’t really have a choice but to sack him because he was just so out of control. But we were all very down about the situation,” wrote bassist Terry “Geezer” Butler in his memoir Into The Void.

Osbourne re-emerged the next year as a solo artist with his album Blizzard of Ozz. In 1981, he released his second album Diary Of A Madman – both were hard rock classics that went multiplatinum.

Ozzy Osbourne (second from right) with The Blizzard Of Ozz bandmates Rudy Sarzo, Randy Rhoads and Tommy Aldridge in 1981
Image:
Ozzy Osbourne (second from right) with Rudy Sarzo, Randy Rhoads and Tommy Aldridge who played on his Blizzard Of Ozz Tour. Pic: AP

He had Parkinson’s disease and had suffered other health problems in recent years, including complications from injuries sustained in a fall in 2019.

After being forced to cancel tour shows, he made a one-off surprise appearance on stage in Birmingham to close the Commonwealth Games in 2022. The Villa Park gig was announced earlier this year by Sharon, who said he was determined to give fans the “perfect farewell”.

Ozzy wore a shiny black jacket and a gold armband bearing his name. Pic: Ross Halfin
Image:
Ozzy Osbourne performed his farewell concert at Villa Park earlier in July. Pic: Ross Halfin

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During his career, Osbourne was inducted into the UK Music Hall of Fame and the US Rock And Roll Hall Of Fame – twice for both, with Black Sabbath and as a solo artist.

He also has a star on the Hollywood Walk Of Fame – as well as in Birmingham’s Broad Street – an Ivor Novello, and five Grammy wins from 12 nominations.

Plus, he received other honours such as the NME’s Godlike Genius award, and Classic Rock’s Living Legend prize, over the years.

Osbourne leaves behind his wife, Sharon, and their children, Aimee, Kelly and Jack, as well his two older children, Jessica and Louis, from his first marriage to Thelma Riley, and grandchildren.

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Isuzu’s first electric pickup is impressive, but it’s not cheap

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Isuzu's first electric pickup is impressive, but it's not cheap

A fully electric Japanese electric pickup truck? It’s not a Toyota or Honda, but Isuzu’s new electric pickup packs a punch. The D-MAX EV can tow over 7,770 lbs (3,500 kg), plow through nearly 24″ (600 mm) of water, and it even has a dedicated Terrain Mode for extreme off-roading. However, it comes at a cost.

Meet Isuzu’s first electric pickup: The D-MAX EV

After announcing that it had begun building left-hand drive D-MAX EV models at the end of April, Isuzu said that it would start shipping them to Europe in the third quarter.

By the end of the year, Isuzu will begin production of right-hand drive models for the UK. Sales will follow in early 2026.

Isuzu announced prices this week, boasting the D-MAX EV features the same “no compromise durability” of the current diesel version.

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The D-MAX EV pickup features a full-time 4WD system, a towing capacity of up to 3.5 tons (7,700 lbs), and an added Terrain Mode, which Isuzu says is designed for “extreme off-road capability.” With 210 mm (8.3″) of ground clearance, Isuzu’s electric pickup can wade through up to 600 mm (24″) of water.

Powered by a 66.9 kWh battery, Isuzu’s electric pickup offers a WLTP range of 163 miles. With charging speeds of up to 50 kW, the D-MAX EV can recharge from 20% to 80% in about an hour.

The electric version is nearly identical to the current diesel-powered D-Max, both inside and out, but prices will be significantly higher.

Isuzu D-Max EV specs and prices
Drive System Full-time 4×4
Battery Type Lithium-ion
Battery Capacity 66.9 kWh
WLTP driving range 163 miles
Max Output 130 kW (174 hp)
Max Torque 325 Nm
Max Speed Over 130 km/h (+80 mph)
Max Payload 1,000 kg (+2,200 lbs)
Max Towing Capacity 3.5t (+7,700 lbs)
Ground Clearance 210 mm
Wading Depth 600 mm
Starting Price (*Ex. VAT) £59,995 ($81,000)
Isuzu D-Max EV electric pickup prices and specs

Isuzu’s electric pickup will be priced from £59,995 ($81,000), not including VAT. The double cab variant starts at £60,995 ($82,500). In comparison, the diesel model starts at £36,755 ($50,000).

The EV pickup will launch in extended and double cab variants with two premium trims: the eDL40 and V-Cross. Pre-sales will begin later this year with the first UK arrivals scheduled for February 2026. Customer deliveries are set to follow in March.

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AI startups raised $104 billion in first half of year, but exits tell a different story

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AI startups raised 4 billion in first half of year, but exits tell a different story

In this photo illustration, Claude AI logo is seen on a smartphone and Anthropic logo on a pc screen. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)

Sopa Images | Lightrocket | Getty Images

OpenAI and Anthropic continue to lead a fundraising bonanza in artificial intelligence, raising historic rounds and stratospheric valuations.

But when it comes to finding AI exits for venture firms, the market looks a lot different.

AI startups raised $104.3 billion in the U.S. in the first half of this year, nearly matching the $104.4 billion total for 2024, according to PitchBook. Almost two-thirds of all U.S. venture funding went to AI, up from 49% last year, PitchBook said.

The biggest deals follow a familiar theme. OpenAI raised a record $40 billion in March in a round led by SoftBank. Meta poured $14.3 billion into Scale AI in June as part of a way to hire away CEO Alexandr Wang and a few other top staffers. OpenAI rival Anthropic raised $3.5 billion, while Safe Superintelligence, a nascent startup started by OpenAI co-founder Ilya Sutskever, raised $2 billion.

While Meta’s massive investment into Scale AI amounted to a lucrative exit of sorts for early investors, the overarching trend has been a lot more money going in than coming out.

In the first half, there were 281 VC-backed exits totaling $36 billion, according to PitchBook. That includes the roughly $700 million acquisition of EvolutionIQ, an AI platform for disability and injury claims management, by CCC Intelligent Solutions, and the public listing of Slide Insurance, which builds AI-powered insurance offerings for homeowners. Slide is valued at about $2.3 billion.

Read more CNBC reporting on AI

“The dominant exit trend right now is frequent but lower-value acquisitions and fewer IPOs with significantly higher value,” said Dimitri Zabelin, PitchBook’s senior research analyst for AI and cybersecurity.

CoreWeave’s IPO, which took place at the very end of the first quarter, was the exception on the infrastructure side. The stock shot up 340% in the second quarter, and the company is now valued at over $63 billion.

Zabelin said the pattern of more investments in applications with smaller deals has been in place for the past year.

“Vertical solutions tend to plug more easily into existing enterprise gaps,” Zabelin said.

The acquisitions wave is being driven, in part, by what Zabelin calls bolt-on deals where larger companies buy smaller startups to enhance their own future valuations, hoping to enhance their value ahead of a future sale or IPO.

“That also has to do with the current liquidity conditions in the macro environment,” Zabelin said.

Outside of AI, activity is slow. U.S. fintech funding dropped 42% in the first half of the year to $10.5 billion, according to Tracxn. Cloud software and crypto have also seen sharp pullbacks.

Zabelin said IPO activity could pick up if economic conditions improve and if interest rates come down. Investors clearly want opportunities to back promising AI companies, he said.

“The appetite for AI, specifically vertical applications, will continue to remain robust,” Zabelin said.

— CNBC’s Kevin Schmidt contributed to this report.

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