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New York Stock Exchange listed company Cango has disclosed receiving a takeover offer from Enduring Wealth Capital Limited.

1 days ago

On March 16th, as per a report from PR Newswire, the New York Stock Exchange-listed company Cango disclosed that it has received a preliminary non-binding letter of intent from Enduring Wealth Capital Limited (EWCL). This letter is intended to acquire 10 million shares of Class B common stock from the company's co-founder at a mutually agreed purchase price. Furthermore, the letter of intent also mandates that the Cango founders voluntarily convert all the remaining Class B common shares they hold into Class A common shares and resign from the board and executive positions. BlockBeats had previously reported that Cango, a NYSE-listed automobile trading service provider, holds a total of 1,944 Bitcoins. In November 2024, Cango entered the Bitcoin mining field by investing $400 million to acquire a hash rate of 50 EH/s, promptly becoming one of the largest miners in the world, providing approximately 6% of Bitcoin's network hash rate. For reference, the world's largest publicly traded mining company, MARA Holdings (MARA), has a hash rate slightly exceeding 47 EH/s, while the second-largest, CleanSpark (CLSK), and Riot Blockchain (RIOT), have hash rates of 32 EH/s and 26 EH/s respectively.
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Gemini Appoints New CFO Dan Chen

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TRON's revenue surged past $2 billion last year, a year-over-year increase of 116%.

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Bitfarms has completed the acquisition of Stronghold Digital Mining

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On Polymarket, the probability of "The Fed will end its quantitative tightening policy before May" has reached 100%.

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Ripple Applies for Custody and Wallet Trademark, Expanding Crypto Custody Business

On March 18th, Ripple Labs submitted a trademark application for "Ripple Custody." As per the application documents, this trademark encompasses financial services such as the storage and management of cryptographic assets to fulfill financial management requirements. This trademark application comes shortly after Ripple launched custody services in October 2024, indicating that the company is aiming to expand its revenue sources beyond payment settlement. Furthermore, the trademark application also mentions "downloadable cryptocurrency, fiat currency, virtual currency, and digital currency custody, transfer, and storage software," which may imply that Ripple is contemplating launching an official cryptocurrency wallet. Currently, the company has not offered official wallet services. However, if launched, this product may support XRP and other digital assets, creating a new revenue stream through transaction fees. A spokesperson for Ripple declined to comment on the trademark applicatio

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