CANG News & Events

Traditional finance is no longer observing the digital asset economy from a distance, it is writing checks in it, listing on Nasdaq alongside it, and building payment rails directly into it. The unifying thread across today's news is institutional commitment: to crypto infrastructure, to on-chain settlement, and to U.S. market access. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.LEGACY ASSET MANAGERS MOVE DEEPER INTO CRYPTO VIA ACQUISITION AND NASDAQ LISTING:The $1.7T asset manager Franklin Resourcesis making a definitive push into active digital management through a structural first for the industry., Franklin has agreed to acquire 250 Digital, the active crypto arm recently spun off from CoinFund, using BENJI tokens, blockchain-based shares of Franklin's own money fund, as payment consideration, forming a new "Franklin Crypto" division and marking the first on-chain M&A settlement in traditional asset management. On the same day, Europe's largest digital asset manager, CoinShares (CSHR),. With $6B in assets under management and a 34% share of the European ETP market, CoinShares now competes on the same exchange as BlackRockand Fidelity, extending the geography of institutional crypto competition directly onto U.S. screens.BLOCK ENABLES AUTOMATIC BITCOIN PAYMENTS FOR FOUR MILLION MERCHANTS:Mainstream merchant adoption received a massive boost as Blockintegrated digital assets natively into its payment ecosystem.how Block has auto-enabled bitcoinpayments for approximately 4M U.S. merchants. This material operational development, coupled with CEO Jack Dorsey's public push to replace certain middle management layers with artificial intelligence, marks a significant shift in the investment story for Block shareholders.SPOT FUND FLOWS AND ETP DISTRIBUTION SIGNAL INSTITUTIONAL PRODUCT DEMAND:Institutional demand for spot products showed renewed strength to start Q2.that U.S. spot funds saw $117.5M in net inflows for bitcoin and $31.2M for ethertoday, led by BlackRock's iShares Bitcoin Trust, which recorded $98.42M in new capital, a constructive demand signal for equities with heavy sector exposure, such as Coinbase. On the distribution side, DeFi Technologiesof its Valour subsidiary to lead Nordic and European ETP expansion, a complementary signal that appetite for regulated crypto exposure products is deepening across both sides of the Atlantic.MINING OPERATOR REDOMICILIATION AND MICRO-CAP COMPLIANCE PRESSURE:Major mining operators are evolving their corporate structures to better serve U.S. investors. Bitfarms., with shares expected to begin trading under the new ticker KEEL on April 6, aligning the company closer to U.S. capital markets and GAAP reporting as it expands its data center strategy. At the micro-cap end of the sector, compliance risk is surfacing as Cango, giving the company a six-month cure period to rectify the deficiency.PRICE ACTION:As of time of writing, bitcoin was trading at $68,813.65, while ether was trading at $2,134.30,.

Cango announced that it has received a letter from the NYSE dated March 10, notifying the Company that it is not in compliance with the NYSE's price criteria for continued listing standard because, as of March 9, the average closing price of the Company's Class A ordinary shares was less than US$1.00 per share over a consecutive 30 trading-day period. This press release is issued within the 30-day period following receipt of such notice as required under the NYSE rules. The Company has six months following receipt of the notice to regain compliance with the minimum share price requirement. The Company can regain compliance at any time during the Cure Period if on the last trading day of any calendar month during the Cure Period the Company has a closing share price of at least US$1.00 and an average closing share price of at least US$1.00 over the 30 trading-day period ending on the last trading day of that month. To address this issue, the Company intends to monitor the market conditions of its listed securities and is still considering its options. As required by the NYSE rules, the Company has notified the NYSE of its intent to cure the price deficiency of its Class A ordinary shares within the applicable time period required by the NYSE.

Reports Q4 revenue $179.5M vs. $89.8M last year. Mr. Paul Yu, Chief Executive Officer of Cango, said, "2025 marked our inaugural year as a Bitcoin miner, defined by swift execution. We initiated a comprehensive asset restructuring and successfully established a globally distributed mining footprint. Furthermore, we appointed a new senior management team, bolstering our expertise and competitive edge in digital-assets and energy infrastructure. The completion of our direct NYSE listing and shift to U.S. dollar reporting further reflect our evolution into a global AI infrastructure company. Entering 2026, we proactively strengthened our balance sheet and optimized our mining fleet to enhance efficiency and cost resilience. Concurrently, we are advancing our pivot to become an AI infrastructure provider. Through EcoHash, we are leveraging our core expertise in scalable computing and energy networks to deliver flexible, cost-effective AI inference solutions. With initial site retrofits underway and products in development, we are well positioned to execute with focus and strategic discipline in the new era."