GDC News & Events

GD Culture Group Ltd trading halted, volatility trading pause

GD Culture Group announced that its board has received a preliminary non-binding proposal letter from Wealthy Concord and East Valley Technology, proposing to acquire all of the outstanding shares of the company's common stock, par value $0.0001 per share, not already beneficially owned by the consortium, for $10.75 per share in cash. According to the proposal, the offer price represents a premium of approximately 168.8% to the closing price of the company's common stock on April 30 and premiums of approximately 257.3% and 224.6% to the volume-weighted average closing price of the company's common stock during the last 30 and 60 trading days ended April 30, respectively. The consortium collectively beneficially owns 5,564,886 shares of the company's common stock, representing approximately 9.2% of the 60,759,711 shares outstanding as of April 10. The board intends to review and evaluate the proposal. The consortium has suggested that the board form a special committee of independent and disinterested directors to consider, evaluate and negotiate the proposed transaction, and that such committee retain its own independent legal and financial advisors.

Robinhood's weak crypto quarter is colliding with a louder pro‑bitcoin message from Washington, leaving traders to decide whether U.S. exchanges are in a temporary lull or the early stages of a policy driven pivot. At the same time, Visa's stablecoin buildout, fresh bitcoin treasury disclosures, and new mining and AI infrastructure deals are shifting how listed companies earn, hold, and service digital assets around the core bitcoin(BTC-USD)and ether(ETH-USD)trade. 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.ROBINHOOD CRYPTO HIT:Robinhood(HOOD)reported Q1 crypto transaction revenue of $134M, down 47% vs. last year, helping pull total revenue to about $1.07B, compared to the roughly $1.14B expected. The stock fell around 10% in early trading as investors reassessed how much of Robinhood's earnings power still rides on episodic crypto volatility rather than steadier brokerage lines.WHITE HOUSE CLARITY PUSH:White House crypto adviser Patrick Witt told the Bitcoin 2026 conference that digital assets will "take off like a rocket ship" once the CLARITY Act passes and hinted at a "big announcement" on a Strategic Bitcoin Reserve, according toBSC News in a post made to X..VISA STABLECOIN BUILD:Visa(V)said in a company press release that it has expanded its stablecoin settlement pilot to nine blockchains, adding Arc, Base, Canton, Polygon, and Tempo and citing a $7B annualized settlement run rate, up 50% quarter over quarter. The release highlights Base, Coinbase's layer two network, as one of the additions, underscoring how incumbent card networks are leaning on exchange infrastructure as they push tokenized settlement into mainstream flows.BITCOIN TREASURY MOVES:Next Technology Holding(NXTT)disclosed that it holds 5,833 bitcoin as part of a combined bitcoin treasury and AI software model. GD Culture Group(GDC)filed a prospectus supplement describing a 7,500 bitcoin reserve and board approval to sell tokens to help fund a $100M share repurchase program, effectively turning part of its digital asset stack into a buyback war chest.iPower(IPW)confirmed that collateral exceeds the roughly $3.69M balance on its convertible note and detailed an active bitcoin and ether treasury strategy with BitGo(BTGO)custody. Forum Markets(FRMM), formerly ETHZilla, repurchased and cancelled about 5.65M shares at an average price near $4.26, spending roughly $24.1M and cutting shares outstanding to around 14.65M as of April 28.MINER TO AI PIVOT:Z Squared(ZSQR)signed a binding letter of intent to acquire three North Carolina sites from Skycore Digital totaling 24 megawatts of energized capacity with a path to 42 megawatts, in an all stock deal with up to 22M of Series B preferred consideration and no cash. Separately, Riot Platforms(RIOT)disclosed in a regulatory filing, that it converted a $200M variable rate secured term loan from Coinbase Credit to a fixed rate and extended maturity by 364 days with an additional one year option, while keeping bitcoin, USD coin, and cash collateral at Coinbase Custody unchanged.ON CHAIN ETHER FLOWS:On-chain data shows Bitmine Immersion Technologies(BMNR)bought about 45,000 ether, roughly $103.5M, via over the counter trades through FalconX and BitGo over the past 48 hours, lifting its holdings to 5,078,386 ether, more than 5% of circulating supply.PRICE ACTION:As of time of writing, bitcoin was trading at $76,214.50, while ether was trading at$2,288.72,according to price data from TipRanks.