Home Blog Page 905

Bitcoin tumbles after Israel launches strike on Iran, triggering $100M in longs liquidated in 15 minutes

0

Bitcoin plunged immediately after news of Israel’s preventative strike on Iran spread, rattling global markets and triggering a swift retreat from crypto assets.

The leading digital asset fell nearly 4% from about $65,500 to $63,000 amid the sudden flare-up in the Middle East conflict. It was trading at around $63,600 at press time, down 6% in the last 24 hours.

Bitcoin tumbles after Israel launches strike on Iran

Within minutes of the headlines breaking, roughly $100 million in long positions were liquidated across major exchanges, according to derivatives data.

Following the attack, the Israel Defence Forces warned of possible missile retaliation and imposed a nationwide halt on schools, workplaces, and gatherings, exempting essential sectors.

This is a developing story.

United Rentals announces Telematics integration with Procore to expand equipment visibility for customers

0

United Rentals Inc. (NYSE: URI), the world’s largest equipment rental company, and Procore Technologies (NYSE: PCOR), the leading global provider of construction management software, today announced a new strategic partnership and their first telematics integration. The integration enables shared customers to seamlessly bring United Rentals rental equipment data directly into the Procore Resource Management solution, expanding visibility and simplifying equipment management across jobsites.

The integration is part of United Rentals’ broader innovation strategy to provide customers with actionable information. By creating open integrations across the construction ecosystem, United Rentals aims to provide AI-driven insights that enhance productivity, safety and asset efficiency for customers.

“Access to accurate, real-time equipment data is essential for running efficient and productive jobsites,” said Tony Leopold, Chief Technology and Strategy Officer at United Rentals. “By integrating United Rentals telematics data into Procore, we’re extending visibility into rental equipment within a platform many of our customers already use every day. This helps them better plan, track, and manage equipment across their projects.”

Together, United Rentals and Procore aim to bridge the industry’s “resource gap,” the disconnect between office planning and jobsite execution. By integrating telematics into Procore’s Resource Management solution, customers gain a unified view of equipment, labor and materials to streamline planning, tracking and forecasting. The integration supports AI-driven recommendations to optimize resource deployment, helping customers maximize productivity and asset utilization across projects.

How the Integration Works

By connecting their United Rentals account directly within the Resource Management solution, customers can automatically sync rented equipment records and available telematics into their existing workflows. This centralized view allows teams to manage owned and rented equipment side-by-side, providing the operational awareness needed to support more proactive equipment planning across jobsites.

“The biggest killer of productivity isn’t a lack of effort, it is the lack of visibility,” said Steve Davis, President of Product & Technology at Procore. “By integrating United Rentals telematics directly into Procore Resource Management, we’re providing total orchestration for both owned and rented fleets in one place. This unified view will enable contractors to maximize field productivity and deliver stronger project outcomes.”

Bitcoin Rebound Stalls at $65K as Stocks Fall and Gold Rises

0

In brief

  • Bitcoin slipped to nearly $65,000, recently trading near half its all-time high of $126,080.
  • CoreWeave stock dropped more than 20% after Macquarie slashed its price target to $90.
  • Block Inc. bucked the trend, surging 14% after announcing a 40% staff cut due to AI.

After peaking above $69,000 on Wednesday and suggesting a potential rebound for the leading cryptocurrency, Bitcoin dropped more than 3% on Friday to nearly $65,000 as stocks dipped and gold enjoyed a 1.4% bump.

The S&P 500 has fallen 0.7% and the Nasdaq has slipped 1.15% since the New York opening bell on Friday.

At the time of writing, Bitcoin was changing hands for $65,222 and has lost 3.5% compared to the same time last week, according to crypto price aggregator CoinGecko.

The world’s largest cryptocurrency by market capitalization has been trading for nearly half its all-time high price of $126,080 for the better part of the past week.

Bitcoin had a bumpy week, starting with a sell-off Monday. There was more turbulence mid-week as President Donald Trump’s 10% global tariff went into effect, but a brief window of relief as Nvidia’s earnings steadied tech stocks and crypto markets alike.

“After reaching the $70K psychological level, upside momentum faded,” analysts at Tokyo-based crypto exchange Bitbank wrote in a note shared with Decrypt. “Since Thursday, in the absence of fresh catalysts, BTC has traded in a narrow range in the mid-to-high $60K area.”

Other major cryptocurrencies have fallen in line with Bitcoin, with Ethereum dropping more than 5% on the day to $1,918, while XRP is down about 4% to $1.35 and Solana has dipped over 5% to $81.50.

The price of gold, however, has ticked up to $5,268 as investors seek safe haven assets. Meanwhile, crypto stocks have taken a beating, with some falling much harder than indices indicate.

CoreWeave (CRWV), a Bitcoin mining firm turned AI-native cloud computing provider, had dropped 21% to $76.92 at the time of writing.

On Friday morning, analysts at Macquarie dropped their price target for the firm. They explained in a note shared with Decrypt that the company missed on its earnings and needs substantial investment before it can bring additional compute resources online.

“Execution at this scale could be choppy,” they added, dropping their price target for the stock from $115 to $90.

Ethereum treasury giant BitMine Immersion Technologies has seen its shares drop 7.3% in the past day, falling to $18.95. The company holds 4.42 million ETH that’s worth approximately $8.2 billion at the time of writing. And its Ethereum treasury competitor, Sharplink, has seen its shares drop 6.7% to $6.73. SBET currently holds over 863,000 ETH, which is worth approximately $1.6 billion at current prices.

Meanwhile, Jack Dorsey’s payments processor, Block Inc., has seen its shares buck the crypto stock trend. Block, which trades under XYZ, has gained nearly 15% since the opening bell after the company announced that it has cut 40% of its staff in a pivot to rely more on AI.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.

Confido Raises $9 Million to Scale Embedded Financial Infrastructure for Law Firms and LegalTech Platforms

0

Confido, the embedded financial infrastructure platform purpose-built for law firms and legal technology, today announced it has raised $9 million in financing over two rounds, the latest of which was led by Aquiline Capital Partners. 

The round also drew participation from The LegalTech Fund (TLTF), Breakwater Ventures, Live Oak Bank, and Context Ventures (who also led the initial round). 

The global legal industry moves more than $1 trillion annually, yet much of that volume is still managed through paper checks, manual reconciliation, and bank tools that were never designed for legal trust accounting. Law firms are required to maintain strict separation of trust and operating funds, comply with state bar and IOLTA rules, and often manage multiple trust accounts across banks, requirements that generic payment and fintech products are not built to support. As LegalTech platforms increasingly become systems of record for firms, these limitations have become a material operational and compliance bottleneck. 

Confido was built specifically to address this gap. From day one, the company designed the platform around bar rules and trust accounting requirements, enabling compliant money movement without forcing firms or LegalTech providers to adapt generic financial tools. Through a single GraphQL-based API, Confido allows platforms and firms to accept card and ACH payments, route funds across multiple trust and operating accounts, execute intra-firm transfers, and send real-time digital disbursements, while automatically maintaining compliance with bar and IOLTA rules. Today, Confido powers payments and money movement for many leading LegalTech platforms and supports more than 1,500 law firms across the United States and Canada. 

“Confido makes it easier for law firms and LegalTech platforms to get paid and pay out funds by building compliant, modern payments and payouts directly into the systems they already use,” said Dante La Ruffa, Partner and Head of Aquiline’s Venture & Growth Strategy, who led the investment. “As investors at the intersection of financial services and LegalTech, Aquiline is excited to support Emery and his team as they continue to build the preeminent financial platform for the legal market.”

The new funding will help Confido to further strengthen its payments and disbursements infrastructure while expanding into additional embedded financial products designed for LegalTech providers and the law firms they serve. For cofounder Emery Wager, that expansion reflects the company’s broader goal of consolidating fragmented financial workflows into a single, compliant platform. 

“We built Confido on the principle that LegalTech companies should have one API and one underwriting process to deliver all the payments and financial workflows their law firm customers need,” Wager said. “This latest round will help further accelerate that vision beyond payments acceptance and disbursements.” 

Confido’s regulation-first approach has resonated with investors focused on the evolution of LegalTech. Zach Posner, Managing Partner of TLTF, noted that the industry has long struggled to adapt generic financial tools to its regulatory reality.  

“The Confido team continues to deliver purpose-built, compliant infrastructure that allows money to move the way law firms and legal technology companies need,” Posner said.

Mt. Gox’s Karpeles Floats Hard Fork Recover $5.2B Bitcoin

0

Mark Karpelès, the former CEO of Mt. Gox, is calling on community support for a proposal to recover more than $5.2 billion stolen from his Bitcoin exchange more than a decade ago.

On Friday, Karpelès submitted a proposal on GitHub to add a consensus rule that would allow the 79,956 Bitcoin hacked from Mt. Gox (currently sitting in a single wallet) to be moved to a recovery address without the original private key. 

“These coins have not moved in over 15 years. They are among the most well-known and publicly tracked UTXOs in Bitcoin’s history,” he wrote. 

Source: Jameson Lopp

Karpelès said that with Mt. Gox trustee Nobuaki Kobayashi already overseeing distributions to creditors, if the coins were recoverable, the existing legal and logistical framework would distribute them to their rightful owners. 

“I want to be upfront: this is a hard fork. It makes a previously invalid transaction valid. All nodes would need to upgrade before the activation height. I’m not trying to disguise that fact or sneak it through as something else,” he added.

However, Karpelès said the proposal wasn’t intended to bypass the Bitcoin development process; instead, it was an attempt to start a discussion with the Bitcoin community. 

Source: Luke Dashjr

“The MtGox trustee has declined to pursue on-chain recovery, citing the uncertainty of whether such a consensus change would ever be adopted,” he said. 

“This creates a deadlock: the trustee won’t act without certainty, and the community can’t evaluate the idea without a concrete proposal. This patch breaks that deadlock by providing something concrete to discuss.”

Bitcoin immutability at risk, say critics 

Karpelès’ proposal saw strong opposition on the online forum Bitcointalk, with most arguing that it would set a bad precedent for Bitcoin, a decentralized cryptocurrency intended to be irreversible and immutable. 

“Each time a hack incident [happens], someone will call for another new consensus rule to recover stolen funds. This will destroy the bitcoin concept in full,” wrote “coupable,” who has been a member of the forum since 2015. 

“Bitcoin should be independent from what Law Enforcement decides in any [jurisdictions],” said another forum member known as “PrivacyG.”