The aughts were a bold time for eyewear. Stars were running around Hollywood in huge bug-eyed shades (very Paris Hilton) and clear, tinted square frames (very Eve), and I simply had to try them all. As a teen, I was completely obsessed with big, wraparound shield frames. (You could hide half of your face behind them—a shy teen’s dream!) I taped a 2006 Dior sunglasses ad starring Kate Moss, in which she wears huge black shield sunnies, onto my bedroom wall for inspiration. Britney Spears also rocked a pair of Dolce & Gabbana shades, and I’ve been on the hunt for them ever since.
The crypto market reflected significant losses as the US officially entered the Iran-Israel war late Saturday night. According to President Trump, the US has bombed notable nuclear sites in Iran, signaling its first active strike in this geopolitical conflict.
The crypto market reacted with notable liquidations across the altcoin sector. Ethereum dropped over 5% following the news, trading below $2,300 for the first time in a month.
Also, Cardano is nearing a 3-month low following the news – down 6% today. AI agent coins suffered the biggest blow, as VIRTUAL and FET dipped nearly 10%.
Crypto Market Liquidations After US Strikes Iran. Source: Coinglass
While Bitcoin still holds above $102,500, indicators suggest it could potentially fall below the $100,000 psychological level if further escalations are reported over the weekend.
As of now, the market will be cautiously looking at Iran’s response. President Trump has stated that any response from Iran would result in further US actions.
Overall, crypto liquidations exceeded $670 million today, and further escalation could very well signal a short-term bearish cycle.
CoreWeave’s $9 billion plan to acquire Core Scientific is facing growing resistance, and crypto markets are paying attention.
The unexpected shareholder pushback has coincided with a sharp rally in AI tokens, suggesting that investors see deeper implications beyond the boardroom.
CoreWeave Builds Out AI Infrastructure
CoreWeave is one of the largest AI infrastructure providers in the United States. In June, it proposed an all-stock acquisition of Core Scientific, a Bitcoin mining firm now repositioning itself as a data center player for AI workloads.
But that plan is seeing pushback. The deal seemed to be going smoothly, until Two Seas Capital, Core Scientific’s largest shareholder, objected.
Two Seas Capital has a 6.3% stake in Core Scientific. Today, the firm announced it would vote against the deal. The firm believes the offer dramatically undervalues Core Scientific and exposes shareholders to unnecessary risk.
“We invested in Core Scientific because we believe in [its] ability to create value in building…infrastructure at scale. We are therefore disappointed that the Board of Directors has chosen to sell the Company to CoreWeave. From our perspective as a shareholder of Core Scientific, the proposed sale materially undervalues the Company and unnecessarily exposes its shareholders to substantial economic risk,” Two Seas’ statement read.
On the surface, Core Scientific has plenty of good reasons to sign this AI development deal with CoreWeave. The firm’s revenues fell dramatically in early 2025, and CoreWeave is preparing to pay $9 billion for it.
However, this offering consists of CoreWeave stock, not fiat currency.
This deal is also uncollared. So, Core Scientific shareholders like Two Seas won’t receive a share adjustment if CoreWeave’s stock price drops. Simply put, the firm needs more assurances than that.
While CoreWeave is a major player in AI cloud services—reportedly one of OpenAI’s preferred GPU providers—it faces its own vulnerabilities.
The firm heavily depends on a handful of high-profile clients, and its valuation is tethered to volatile market sentiment around AI.
Any pullback in demand, shift in regulatory environment, or funding shortfall could impact Core Scientific’s stock price.
So, Two Seas’ position is clear. It’s not rejecting the merger outright, but it wants a deal with more guarantees or a higher asking price.
CoreWeave’s first contract with Core Scientific dates back to 2018, when both were crypto mining companies.
CoreWeave (“Atlantic Crypto”) contracted Core Scientific for GPU hosting to mine Ethereum while Core Scientific mined Bitcoin.
AI Tokens React as Investors Sniff Out Scarcity Narrative
Shortly after Two Seas’ letter went public, the crypto market’s AI sector surged. The total market cap of AI coins jumped over 6% in a matter of hours, according to CoinGecko data.
The market’s reaction reflects a deeper narrative. CoreWeave’s aggressive $9 billion offer and Two Seas’ firm resistance both point to the rising strategic value of data centers and power capacity in the AI era.
With centralized AI infrastructure constrained and contested, investors may be rotating into decentralized AI platforms that promise scalability without single points of failure.
In crypto, narratives drive flows. The public friction between CoreWeave and Two Seas became a narrative trigger—reinvigorating interest in the AI token space.
While this shareholder dispute may resolve through a revised deal or protracted negotiation, the message is already out that AI infrastructure is valuable, limited, and contested.
Overall, the traders should expect more capital rotation into AI-native tokens as narratives shift toward long-term infrastructure plays.
Tether is deploying its existing and future hashrate on OCEAN, a decentralized Bitcoin mining protocol. It will focus on delivering high-performance operations to undeveloped areas, particularly in Africa.
Tether is showing increased commitment to keeping the Bitcoin ecosystem sustainable. This initiative also builds on the company’s previous investments in Africa.
Today, Tether is working to advance decentralized mining infrastructure by deploying both its existing and future hashrate on OCEAN.
“As a company committed to financial freedom and open access, we see supporting decentralization in Bitcoin mining as essential to the network’s long-term integrity. Deploying hashrate to OCEAN aligns with both our mining investments and our broader mission to fortify Bitcoin against centralizing forces,” said Paolo Ardoino, CEO of Tether.
Tether’s hashrate will be able to help OCEAN in a few key ways. Critically, it highlights Tether’s commitment to the long-term viability of Bitcoin, as it is a major holder.
The company will deploy this hashrate through OCEAN’s DATUM Gateway service, which helps miners create high-performance operations in low-bandwidth areas.
Most notably, Tether will prioritize rolling out these services in rural and underdeveloped regions, particularly in Africa. This reflects Tether’s growing business commitments in the continent.
Tether obviously has self-interested reasons to deploy its hashrate on OCEAN, as it benefits from potential stablecoin users in new regions.
Moreover, the firm cast Bitcoin’s independence as a key motivator in itself. Tether is a major component of the global crypto economy, and it recognizes the importance of BTC beyond its desire to custody the asset.
In short, this operation gives a few insights into Tether’s plans for the future. By deploying hashrate on OCEAN, Tether is working to strengthen Bitcoin’s network and put more of the world on the blockchain.
Eventually, both of these aims can directly benefit the company.
