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first_img Large American companies are resuming hiring, and the expectation that AI will replace jobs is reversing

According to the Wall Street Journal, after nearly a year of freezing hiring, several large companies in the United States have begun to rehire, with railway giant CSX and Google's parent company Alphabet recently indicating plans to recruit to support growth targets or seize emerging technology opportunities. Over the past year and a half, large employers have generally reduced white-collar positions, partly due to economic uncertainty and partly based on the judgment that reducing staff can lead to faster growth and that AI can take on more work. However, some executives now state that the costs and limitations of AI actually require an increase in personnel.The report states that Booz Allen's Chief Operating Officer Kristine Martin Anderson indicated that the company needs to accelerate hiring, as it cut thousands of positions last year amid a contraction in federal contracts, with a total headcount of about 30,900 as of June 30, a year-on-year decrease of 7.5%. Sarah Franklin, CEO of the HR platform Lattice, stated that many companies had paused hiring for junior positions due to expectations that AI would take over jobs, but now realize that even with programming agents, they still need to hire engineers and are currently re-hiring a large number of junior positions. At the same time, layoffs in the U.S. have slowed, with initial jobless claims recently dropping to the lowest level since 1969.

first_img Pennsylvania plans to ban betting companies from providing liquidity for prediction markets, or affecting the layouts of DraftKings and Flutter

On July 22, Pennsylvania State Representative Tarik Khan introduced HB 2711, co-sponsored by 24 bipartisan legislators (20 Democrats and 4 Republicans), which has been submitted to the House Consumer Protection, Technology, and Utilities Committee. The bill aims to prohibit the provision of prediction market services to Pennsylvania residents while engaging in gambling activities in the regular business of liquidity providers or market makers, extending the restrictions to parent companies, subsidiaries, affiliates, and joint ventures, and prohibits prediction platforms from sharing revenue with gambling companies.This move could impact sports betting groups like DraftKings (which has acquired CFTC-registered Railbird Technologies and launched its own DKeX exchange) and Flutter, which are entering the prediction market-making field. The bill also sets a minimum age limit of 21, prohibits contracts involving high school sports, events with minor participation, and death markets, and requires platforms to establish anti-fraud and insider information abuse protection mechanisms.The bill does not establish a licensing system, and enforcement authority is granted to the state Attorney General. Previously, the Third Circuit Court of Appeals ruled 2:1 in April that the federal Commodity Exchange Act takes precedence over state gambling laws, but Pennsylvania has joined a coalition of 40 states advocating for sports contracts to be subject to state-level regulation.

Bitcoin's pullback impacts treasury companies, TD Cowen lowers Nakamoto's target price by 58% but maintains a "buy" rating

Wall Street investment bank TD Cowen has lowered the target price for Bitcoin treasury company Nakamoto Inc. (NASDAQ: NAKA), reducing the split-adjusted target price from $40 to $17, a decrease of 58%, but still maintaining a "Buy" rating. TD Cowen analysts stated that this adjustment is mainly due to the pressure on Nakamoto's highly leveraged capital structure from the decline in Bitcoin prices.Although the new target price still implies about a 275% upside from the current stock price of $4.65, the company's stock is highly sensitive to fluctuations in Bitcoin prices. TD Cowen expects Bitcoin to rebound to $100,000 by the end of 2026, which is about 25% lower than the historical high of $126,000 set last October. At the same time, the firm anticipates that Nakamoto will suspend further Bitcoin purchases before 2027.Analysts pointed out that Nakamoto's core value still comes from its Bitcoin assets, with the company currently holding 4,467 BTC, valued at approximately $290 million, ranking 22nd among publicly listed companies in terms of Bitcoin holdings. However, the company's debt and preferred stock financing structure have also compressed the asset value available to common stockholders. Recently, Nakamoto has completed several financial adjustments, including repaying approximately $45 million in debt, extending the principal of $105 million to June 2027, reducing financing costs, and approving a $25 million stock buyback plan. Additionally, the company has closed its previously operated medical clinic business and will focus on Bitcoin media, asset management, and consulting services in the future. Data shows that NAKA's stock price has fallen over 71% this year, while Bitcoin has declined about 26% during the same period. Market attention is shifting from "continuously purchasing BTC" to the asset-liability structure and financing capabilities of Bitcoin treasury companies.

The enthusiasm for BTC allocation among listed companies continues to cool, with a net sell-off of 15.92 million dollars in a single week

According to SoSoValue data, as of 8 AM Eastern Time on July 27, 2026, the total net sell-off of Bitcoin by global listed companies (excluding mining companies) in the past week was $15.92 million, a decrease of 1,296.99% compared to last week.According to official documents, Strategy did not purchase Bitcoin last week, selling approximately 5.43 million shares of MSTR between July 20 and July 26, resulting in a net gain of $544.5 million, and spent $25 million to repurchase 288,930 shares of STRC preferred stock.The Japanese listed company Metaplanet did not purchase Bitcoin last week.In addition, three other companies bought or sold Bitcoin last week. Aerospace-grade defense battery thermal management and safety solutions provider KULR announced on July 24 that it generated approximately $21.5 million in revenue from July 9, 2026, to July 23, 2026, selling 333 Bitcoins at a price of $64,538, reducing its total holdings to approximately 760 Bitcoins; asset management company Strive announced on July 27 that it spent $5.19 million to purchase 79 Bitcoins at a price of $65,723, bringing its total holdings to approximately 20,000 Bitcoins; Brazilian Bitcoin company OrangeBTC announced on July 27 that it spent $394,500 to purchase 6 Bitcoins at a price of $65,742, increasing its total holdings to 3,918 Bitcoins.Metaplanet subsidiary Bitcoin Japan announced a convertible bond financing agreement with EVO Fund, intending to raise 9.66 billion yen (approximately $59.5 million) to establish a cryptocurrency asset treasury.As of the time of publication, the total amount of Bitcoin held by global listed companies (excluding mining companies) in the statistics is 1,139,480 Bitcoins, a decrease of 0.02% compared to last week, with a current market value of approximately $7.416 billion, accounting for 5.7% of Bitcoin's circulating market value.

Kraken's parent company Payward acquires Magic Labs' embedded wallet business

According to The Block, Magic Labs has agreed to sell its embedded wallet business to cryptocurrency exchange Kraken's parent company Payward as part of a broader company restructuring, with Magic Labs simultaneously rebranding to Newton Labs. This transaction is in the form of an asset sale, and after the deal is completed, Magic Labs and Payward will continue to operate independently, with wallet customers being taken over by Payward Services.Since its establishment in 2018, Magic Labs has created over 60 million wallets, supporting more than 200,000 developers. Newton Labs will focus on developing the Newton Protocol, which is an authorization layer for on-chain finance that executes compliance, security, and risk strategies before transactions are settled on-chain. The protocol entered the mainnet testing phase in June 2026. The first product based on the Newton Protocol, VaultKit, is a set of composable strategy tools for institutional-grade vaults.This acquisition is another transaction in Payward's ongoing expansion of its financial infrastructure platform. Previously, the company completed the acquisition of the CFTC-licensed derivatives exchange Bitnomial for up to $550 million in cash and stock, and acquired the Hong Kong stablecoin payment company Reap Technologies for $600 million. In 2025, it also acquired the retail futures platform NinjaTrader for $1.5 billion.
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