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Steak ’N Shake Boosts Bitcoin Holdings After 18% Rise In Store Sales

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Steak ’n Shake said this week that it quietly beefed up its Bitcoin stash as in-store sales jumped. The chain added $5 million in BTC to what it calls a Strategic Bitcoin Reserve, bringing total crypto holdings to roughly $15 million.

Reports say the company pointed to crypto payments as one of the reasons same-store sales rose by 18% so far in 2026.

Steak ’N Shake’s Bitcoin Move

According to the brand’s social posts, every crypto payment made at its restaurants goes straight into that reserve instead of being cashed out.

This has let the reserve grow both from customer purchases and from occasional treasury buys. The latest post announced the $5 million top-up after an earlier disclosure that the reserve had been boosted by $10 million in January.

What The Numbers Mean

On paper, $15 million is small next to big corporate treasuries that hold BTC. Still, for a restaurant chain, it is a visible bet.

Reports note the company began accepting crypto across some locations in May 2025, and it claims that the payment option helped draw a certain kind of customer and cut payment fees. That combination, the company says, helped lift traffic and sales.

Bitcoin

Image: Getty Images

Employee Bonuses And Publicity

The crypto story has also been used in staff talk. Steak ’n Shake announced a small BTC bonus plan for hourly workers, paid in BTC and subject to vesting rules.

That move created headlines and some debate, since paying workers in crypto raises practical and legal questions. The chain has been clear about wanting the reserve to support company goals rather than be a quick trading play.

BTCUSD trading at $89,173 on the 24-hour chart: TradingView

A Practical Experiment

This is not a tech fad. The company has been running a simple experiment: accept BTC, keep the crypto, and see if it helps sales or loyalty.

Some outlets reported the same-store sales gains as double digits in various quarters last year, and the company’s narrative ties those gains to the crypto program. Independent audits or formal filings that fully confirm the sales-to-crypto link are not yet public.

How Observers See It

Analysts and market observers have treated the move as an interesting case study. Some see a marketing win; others call it a small but symbolic treasury play.

There are risks: BTC price swings can change the value of the reserve quickly, and operational issues around crypto pay can create friction at the counter.

Still, the chain appears committed for now, and that consistency matters in a crowded retail field.

Featured image from NSU Dining Services, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Intel rises in extended trading on NVIDIA partnership rumors

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Shares of Intel (INTC) extended gains in after-hours trading as rumors swirled that NVIDIA may be turning to the US-based semiconductor company to diversify its chip manufacturing.

INTC rose more than 3% on Monday, according to Yahoo Finance.

Taiwan-based outlet DigiTimes reported Monday, citing supply chain sources, that NVIDIA plans to collaborate with Intel on its Feynman architecture.

Under the reported arrangement, NVIDIA would manufacture the I/O die using Intel’s 18A or 14A process, with mass production expected around 2028. The main compute die would continue to be produced by TSMC.

The report follows renewed speculation that Apple is reviving its chip-making relationship with Intel, with Intel acting solely as a contract manufacturer, while Apple retains full control over chip design.

Such a shift has been the subject of industry chatter for some time. Analyst Ming-Chi Kuo said last November that Intel could begin producing Apple’s lower-end M-series chips using its 18AP process as early as 2027.

These potential moves would allow tech giants to comply with US “Made in America” goals, manage tariffs, and reduce dependency on TSMC without disrupting high-end, high-volume manufacturing.

Nomura’s Laser Digital applies to open U.S. national trust bank for crypto custody

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Laser Digital, the digital assets arm of Japanese investment bank Nomura, said it filed an application with the U.S. Office of the Comptroller of the Currency (OCC) to open a federally regulated national trust bank, joining a number of crypto companies looking to off asset management services for the digital assets industry.

The proposed Laser Digital National Trust Bank would be based in the U.S. and serve institutional clients with custody for cryptocurrencies and U.S. government securities. It would also offer spot trading for both crypto and fiat currencies, along with staking services for eligible digital assets held in custody, according to a Tuesday press release.

If approved, Laser Digital would join a small group of federally regulated crypto-native institutions able to offer these services under direct supervision from a national regulator. The application comes just a month after Ripple, Circle Internet (CRCL), BitGo, Fidelity Digital Assets and Paxos received initial approvals as trust banks.

“Institutional clients are increasingly looking for ways to engage with digital assets within structures that are familiar, well governed, and regulator supervised,” Purvi Maniar, Laser Digital’s chief legal officer and proposed bank president, said in a statement. “The National Trust Bank framework provides exactly that.”

Laser Digital, based in Zurich and already licensed in the UAE, currently offers crypto funds, over-the-counter trading and treasury management tools. Earlier this month it introduced a tokenized bitcoin yield-bearing fund, the Laser Digital Bitcoin Diversified Yield Fund.

The proposed bank will not offer deposit accounts or securities trading at launch.

LAWSUIT: Lawrence Welk Jr., son of late renowned bandleader, seeks $30 million after being illegally ousted by his own family from the company he built

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laintiff’s attorney Jordan Matthews, of Holtz Matthews LLP, is available for interviews.

Los Angeles, Calif., Jan. 20, 2026 – Driven by greed and ego, the son of the late renowned bandleader, Lawrence Welk, was illegally ousted as CEO and chairman of The Welk Group, an enormously profitable organization he ran for 42 years, by his own son and other family members as they seek to enrich themselves and use profits for personal gain, according to a lawsuit filed Tuesday.

The complaint filed by Lawrence Welk Jr. in Los Angeles County Superior Court against his son, Kevin Welk, The Welk Group, Inc., his nephew Jonathan Fredricks, and Stephen Baron, seeks to dissolve the storied company responsible for numerous Grammy Awards, including music legend Dolly Parton’s 1999 album “The Grass is Blue,” which won a Grammy Award for Best Bluegrass Album through the company’s former music label, Sugar Hill Records.

“Like a scene from Macbeth, after Plaintiff built his son’s and nephew’s careers, they repaid him by stabbing him in the back, surreptitiously ousting him from the company he built, stealing his money, and manipulating the board of directors to exert undue power and control over Plaintiff, a now-85-year-old man,” according to the lawsuit.

Lawrence Welk, Jr. still owns 28.551% of the company’s stock even after being ousted. The unbelievable move came in November 2022, when Welk’s son, Kevin, and his nephew John Fredricks, called a special board meeting to change company rules that no one above the age of 74 should serve as CEO, the complaint states. Welk was 82 at the time.

The sole purpose of the amendment, the complaint continues, was to remove Welk, while during the same meeting the board voted to eliminate the CEO position altogether, without a severance package. In turn, Welk lost his monthly salary of $35,303, expense account and bonus, along with his health benefits. The company’s board then conveniently voted to install Fredricks as the company’s new “President,” the complaint reads.

Lawrence Welk, Jr., was substantially responsible for building the renowned company, The Welk Group, Inc., according to the complaint. After building Heartland Music, he joined his father, launching the enormously profitable Welk Resorts. He acquired record labels, including Vanguard Records and Sugar Hill Records, signed numerous well-established artists, including John Fogerty and Linda Ronstadt, and oversaw the release of multiple hit records, including country music legend Dolly Parton’s 1999 album “The Grass is Blue.” After spearheading the sale of Welk Music Group in 2015 for tens of millions of dollars to Concord Music, Welk orchestrated the sale of Welk Resorts in a blockbuster deal for nearly $430 million in 2021 to Marriott.

He was an integral part of the company’s success only to be unceremoniously pushed aside by his own family who have been “stealing” funds to line their own pockets and pay for luxurious lifestyles with Kevin Welk once spending $231,782.07 of the group’s money on an Aston Martin for his own personal use, the lawsuit alleges.

Specifically, the lawsuit alleges,” Defendants enacted their duplicitous scheme aimed at hiding their fraudulent and criminal conduct” and “conspired, maliciously eliminating Plaintiff’s salary, bonus, and expense account, cutting off his health benefits.” The lawsuit further claims the Defendants “colluded to form a cartel, continually voting over Plaintiff’s objections and against his interests” and “their aim was to hide their fraudulent and criminal conduct, shamelessly ousting the man who built their careers.”

Two other related lawsuits by Lawrence Welk, Jr. are pending – a financial elder abuse claim and a shareholder’s derivatives case – with trials set for Aug. 17 and Oct. 19, respectively.

Welk Jr. seeks to liquidate the acclaimed company and is also seeking compensatory and punitive damages.

“The defendants in this case have shamelessly and maliciously abused their power, ousting our client, Lawrence Welk, Jr., after he substantially built the illustrious company, The Welk Group, Inc. Our client grew the company alongside his father, renowned bandleader, Lawrence Welk, garnering multiple Grammy Awards with the family’s music business, and otherwise built a dynamic real estate and resort brand only for his son and nephew to essentially turn on him after he established their careers,” said plaintiff’s attorney Jordan Matthews of Holtz Matthews LLP.  “We will not tolerate their reckless and malicious abuse of our client and intend to hold them fully accountable for their reprehensible actions, attempting to tarnish the legacy of an 85-year-old man, and a giant in the industry.”

MEDIA CONTACT:

Brian Skoloff

(801) 889-9075

brian@newsroompr.com

 

 







Watch These Bitcoin Price Levels Ahead of Fed Chair Powell’s Speech

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Bitcoin (BTC) is attempting to break the resistance at $90,000 on Wednesday, as traders expect volatile price swings before and after the US policy decision on interest rate cuts. 

Key takeaways:

  • The odds of the US Federal Reserve leaving interest rates unchanged today are 100%.

  • BTC price may drop as low as $65,500 if the key support zone between $80,000 and $84,000 is broken.

100% chance interest rates won’t change

There is nearly a 100% chance that the current interest rates will remain between 3.5% and 3.75%, according to data from Polymarket.

Target rate possibilities for the Jan. 28 FOMC meeting. Source: Source: Polymarket

Futures market traders have also locked in a 97.2% chance that the Fed will leave interest rates unchanged, with odds for a 25 bps reduction at only 2.8%.

However, market participants say that any bearish price action from unchanged interest rates is already priced in.

Related: Bitcoin’s real ‘Uptober’ moment might start in February: Here’s why

Traders have other sources of volatility to contend with, however, including the Japanese economy, risks of another US government shutdown, and the Fed’s move to buy yen, along with Fed Chair Jerome Powell’s speech after the FOMC meeting. 

Therefore, the market will closely watch Powell’s language at the FOMC news conference to see if there is any shift in tone.

“Tomorrow is FOMC and markets are certain that the Fed will leave rates unchanged,” analyst Satoshi Stacker said in a Tuesday post on X, adding:

“All eyes will be on Powell’s press conference and what he suggests the Fed’s plans are for the coming months.”

“If we hear any hints of cuts in March, Bitcoin sends to the moon,” said crypto investor Kiran Gadakh. 

Meanwhile, the US dollar index dropped to a four-year low of 95.55 on Tuesday, the lowest level since February 2022. 

US dollar index. Source: Cointelegraph/TradingView

Historically, a weak dollar amid macroeconomic and geopolitical uncertainty dries up the liquidity risk assets like Bitcoin need to rally. 

As Cointelegraph reported, the BTC/USD pair has historically seen massive breakouts a few months after the DXY fell below the 96 mark. 

Analysts highlight key BTC price levels to watch

Traders say Bitcoin bulls must hold the $80,000-$84,000 support band to avoid a deeper correction, forecasting bear market targets as low as $58,000. 

The support at $84,000 remains key for bulls, representing the 0.382 Fibonacci retracement level measured from the 2022 bear market bottom at $15,500 to local tops, according to Daan Crypto Trades.

The analyst shared a chart showing that the 0.382 Fibonacci retracement retest has held throughout the entire cycle so far.

While the “price was much quicker to react previously, this is not the case now,” Daan Crypto Trades said, adding:

“While this is technically still a decent level to watch, I’d want to see some action pretty soon to keep the structure alive.”

BTC/USD weekly chart. Source: Daan Crypto Trades

“Bitcoin cannot lose $81K under any circumstances,” said founder and CEO of Alphractal Joao Wedson in a X post on Tuesday.

Losing this level would mean a “capitulation process similar to 2022 may unfold,” Wedson said, adding:

“The next major support would sit around $65,500.”

Bitcoin: Fibonacci-Adjusted Market Mean Price. Source/; Alphractal

On the upside, a key area of interest lies between $90,000 and $94,000, where the 50-day and 100-day moving averages sit.

Higher than that, the next move would be a retest of the $98,000 psychological level, which is also the short-term holder cost basis.