nasdaq

U.S. markets witnessed a dramatic shock in July when a group of Chinese microcap companies listed on Nasdaq lost more than 80% of their value within days, wiping out nearly $4 billion in investor wealth.

Sharp Rise, Steeper Fall
The hardest-hit companies included Concorde International, Ostin Technology, Top KingWin, Skyline Builders, Everbright Digital, Park Ha Biological Technology, and Pheton Holdings. Their stocks soared shortly before the crash thanks to aggressive promotion on WhatsApp and other social media platforms, only to collapse in a coordinated sell-off.
According to the Financial Times, the seven companies lost a combined market value of $3.7 billion. Each was heavily promoted in chat groups disguised as legitimate investment forums.

Fake Brokers Drive the Scam
Although no direct link between the companies and the manipulation has been proven, analysts point to clear signs of a classic pump-and-dump scheme. Scammers hype up cheap stocks, lure retail investors, then dump their shares en masse—leaving newcomers with worthless stock while the organizers walk away with profits.
The FBI reports that complaints about such stock scams have tripled year-over-year. Fraudsters increasingly pose as analysts or reputable firms to build trust, then spread links to groups hyping “can’t-miss” Chinese stocks.
Victims include Tia Castagno from London, who lost her entire savings after joining a WhatsApp group that promoted Ostin Technology, and Noushin Mirshokraei from Italy, who was convinced to invest $70,000 in Ostin based on fake news about a major U.S. partnership.

Warnings Ignored
Matthew Michel of InvestorLink says his team has been flagging suspicious activity around Chinese microcaps for months. For example, two weeks before Ostin Technology plunged 94% in a single day, InvestorLink had issued a warning.
Analysis showed that Ostin was promoted on Reddit by 12 accounts within hours—three of which were geolocated in Russia and Iran, matching patterns from other fraudulent operations.

Extreme Bubble Examples
A similar pattern occurred with Regencell Bioscience, a Chinese herbal medicine firm. Its stock skyrocketed by an astonishing 60,000%, briefly valuing the company at $38 billion—more than Walgreens. Yet, the price later collapsed by 83%, despite the firm posting a $4.4 million annual loss.
The cycle is clear: hype – surge – crash.
👉 The scandal highlights how easily retail investors can be manipulated and how difficult it is to spot frauds that keep shifting from one stock to another.

#china , #stockmarket , #NASDAQ , #WallStreet , #GlobalMarkets

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

U.S.-based cryptocurrency exchange Gemini has officially taken steps toward going public, filing for an initial public offering (IPO) with the U.S. Securities and Exchange Commission. The firm, founded by twins Cameron and Tyler Winklevoss, plans to list its Class A common stock on the Nasdaq Global Select Market under the ticker “GEMI.” The process, which began with a confidential filing in June, marks a pivotal moment for the exchange as it seeks to strengthen its position in the digital asset sector.
Dual-Class Structure: Securing Founders’ Control
Gemini’s filing revealed the adoption of a dual-class share structure—a setup designed to preserve the founders’ control. Under this system, Class A shares carry one vote per share, while Class B shares, exclusively held by the Winklevoss brothers and their affiliates, carry ten votes each. This ensures that, despite going public, the founders will retain decisive influence over strategic decisions, qualifying Gemini as a “controlled company” under Nasdaq rules.
Backing this IPO are some of Wall Street’s most prominent names, including Goldman Sachs, Morgan Stanley, and Citigroup. The exchange emphasizes its focus on security, compliance, and accessibility, currently serving over 500,000 active users and collaborating with around 10,000 institutions across 60+ countries.
Economic Performance and Market Position
Despite its challenges, Gemini highlights several key growth metrics in its IPO documents. The company currently manages $18 billion in assets under management (AUM), with total transfers surpassing $800 billion and trading volumes exceeding $285 billion. These figures underscore both the scale of its operations and the broader momentum of the cryptocurrency industry.
“Our numbers reflect the sector’s long-term growth potential and the opportunities that lie ahead,” the company noted in its filing.
Financial Struggles and Reliance on New Capital
While Gemini is pursuing expansion, its financials reveal steep hurdles. In 2024, the exchange reported $142.2 million in revenue but closed the year with a net loss of $158.5 million. The situation worsened in the first half of 2025, when revenue slipped to $67.9 million while losses widened to $282.5 million.
To ease liquidity pressures, Gemini has secured strategic credit arrangements. Most notably, the firm obtained a $75 million credit line from Ripple, with the option to extend to $150 million—though the funds remain untapped. In addition, Gemini has previously relied on financing from the Winklevoss Capital Fund (WCF), pledging 133,430 ETH and 10,051 BTC as collateral for operational needs. As of June 30, 2025, the exchange owed 39,699 ETH and 4,682 BTC back to WCF, with interest rates ranging between 4% and 8% annually.
Looking Ahead
Gemini’s IPO filing highlights a company at a crossroads—grappling with persistent losses yet positioning itself to capitalize on the growing adoption of digital assets. By going public, Gemini aims to secure vital capital, strengthen investor confidence, and expand its role as a leading player in the evolving crypto economy.
#GeminiListing #IPO #NASDAQ

$SOL
The Solana network is currently considering the new governance proposal 0326-SIMD, which presents the Alpenglow consensus protocol as an alternative to its current system based on proof of history and TowerBFT. This change aims to significantly accelerate block finalization and reduce congestion on the network.

According to the proposal, Alpenglow introduces a new voting mechanism called Votor, which can close blocks in just one or two rounds, which is expected to reduce block finality time from 12.8 seconds to between 100 and 150 milliseconds. It will also limit duplicate messages within the network, enhancing its efficiency.

The cryptocurrency exchange #Gemini applied for a listing on the Nasdaq under the ticker GEMI. The company disclosed growing losses ahead of its initial public offering.
Gemini Space Station — a cryptocurrency exchange and custodial service created by Cameron and Tyler Winklevoss — has submitted documents to the U.S. Securities and Exchange Commission (SEC) for listing Class A common shares on #NASDAQ Global Select Market.