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AI Pivot by Crypto Companies Hasn't Lifted Their Shares
The same companies that rode the crypto boom by piling Bitcoin onto their balance sheets are now scrambling to rebrand as AI players. It is not going great so far. Lixte Biotechnology Holdings Inc. saw its stock decline 33% following a June agreement to merge with a battery company. AlphaTON Capital Corp., a firm that owned various alternative coins, lost 33% after renaming itself Alpha Compute Corp. this past April. Even the poster child for crypto treasuries is hurting. Strategy Inc., founded by Michael Saylor, pioneered the model back in 2020. Between late 2019 and a peak in November 2024, the company's shares ... (full story)
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