News & Events zu Cango Inc (CANG)CANGCango Inc

Coinbase Files for U.S. Derivatives Registration

As bitcoin, ethereum and other cryptocurrencies see major legal, institutional, and technological developments, the financial landscape continues to adapt. Stay up on the crypto news that matters with the "Crypto Currents" weekly from The Fly. Also, join us for your essential daily recap, every day at 2 PM ET on FlyCast radio.COINBASE CPO REPORTS FILING FOR EQUITY PERPETUALS:In a Thursday X post, Faryar Shirzad, Chief Policy Officer at Coinbase, stated, "This week @coinbase took the first step to offer them in the U.S on our derivatives exchange by filing notice registration documents with the @SECgov. Equity perps have proven demand internationally, and we're excited at the prospect of a regulated pathway for U.S. investors. The next step is product approval with the @CFTC. The coordination between the SEC and CFTC making this possible is long overdue - and it's exactly what needs to happen for the U.S. to stay competitive on products investors already want. This is only the beginning."On Wednesday, the company announced eligible Canadian traders can now access regulated derivatives contracts on Coinbase. The company said, "Offered through Coinbase Financial Markets, Coinbase is the first major crypto native platform to offer direct native crypto futures in Canada. These capital-efficient perpetual and dated contracts allow sophisticated investors to trade, speculate, and hedge on a platform they already trust."On Monday, Coinbase announced Webulliswith Coinbase as its crypto infrastructure partner. Built on Coinbase's Crypto-as-a-Service platform, Webull Canada will leverage Coinbase's institutional-grade custody and trading services. This expansion follows similar launches in the U.S., Brazil and Australia.Additionally, Cantor Fitzgerald raised the firm's price target on Coinbase to $212 from $184 and kept an Overweight rating on the shares. The firm modestly updated its model to better reflect management commentary and Q3 guidance.STRATEGY BUYS MORE BITCOIN:In a Monday regulatory filing, Strategyannounced an update on its bitcoin holdings. The company reportedat an average purchase price of $80,318 between August 24 and August 30. As of August 30, Strategy holds 845,050 bitcoin acquired for an aggregate purchase price of approximately $63.73B.The company also noted that, as part of its capital framework, Strategy maintains a U.S. dollar reserve, which is intended to support the payment of dividends on Strategy's preferred stock and interest on its outstanding indebtedness, and "USD Cash", which management maintains to deploy for broader general Bitcoin Treasury Company purposes, which may include acquiring bitcoin, expanding the USD Reserve, broader capital management uses, and other similar purposes. As of August 30, the balances of the USD Reserve and USD Cash were $5.1B and $1.61B, respectively. These amounts include expected cash proceeds from shares sold under Strategy's ATM that had not yet settled as of such date.Following the filing, Alliance Global initiated coverage of Strategy with a Buy rating and $217 price target. The company's bitcoin holdings total 845,050, making it the largest holder and representing 4% of the entire supply of the cryptocurrency in existence, the analyst said. Alliance expects a "bull run" in bitcoin over the next 6-18 months given "scarcity and increased demand as the regulatory picture becomes clearer." Strategy is creating yield that results in outperformance compared to bitcoin, contended the firm.B. Riley raised the firm's price target on Strategy to $175 from $155 and kept a Buy rating on the shares. The firm increased targets across its digital asset treasury coverage to reflect token appreciation quarter-to-date, accumulation pace, preferred issuance, and at-the-market usage. Digital assets "re-rated sharply over the past two weeks on a macro-driven liquidity impulse," driven by the Treasury's announcement on August 18 of larger long-end buybacks beginning September 9, an SEC token proposal, and a White House crypto summit alongside renewed presidential pressure on the CLARITY Act, the analyst said. Riley adds that $2.7B of shorts were liquidated in the first 24 hours of the move.B. Riley also raised the firm's price target on Bitmine ImmersiontoNakamototoSolana Companyto, Strivetoand Forward IndustriestoThe firm kept a Buy rating on all the names.BITDEER ANNOUNCES SELL-OUT OF MALAYSIA DATA CENTER:Bitdeer AIannounced Monday that it hasfor AI Cloud business ahead of energization in 1Q27. Inclusive of the offtake commitment announced on August 19, Bitdeer AI has now entered into five-year long term offtake commitments with total expected revenue of over $800M at this site. As a general matter, Bitdeer AI seeks to structure its AI cloud contracts so that customer prepayments are expected to cover more than 50% of the associated capital expenditure. These contracts are not expected to have a revenue impact in 2026. Revenue and associated costs are expected to begin in 1Q27, when services commence. Bitdeer AI is targeting 350MW of AI Cloud data center capacity to be delivered by 1Q28.The company also announced on Tuesday the acquisition of 200 acres of land in Milam County, Texas, near the company's existing Rockdale facility. Bitdeer has completed the fee simple acquisition of approximately 200 acres of greenfield property for total consideration of approximately $100M, paid in cash. The Milam County sites, including the New Parcel, currently feature approximately 563 MW of interconnected grid capacity with existing plans expected to scale to 742 MW, and a dedicated water supply. Following this transaction, Bitdeer owns and/or operates approximately 255 acres and 742 MW of existing and pipeline power capacity in Milam County, and approximately 3.0 GW of total power capacity across its global site portfolio."Securing outright ownership of land in Milam County reflects the disciplined approach we're taking to expanding powered land under our control," said Michael Potter, CFO. "Rockdale is one of the best-connected locations in our portfolio, and we believe it is well positioned to receive additional power over the coming years. Owning this land gives us greater long-term certainty over our development plans, eliminates the renewal risk associated with a lease, and provides flexibility to maintain our existing Bitcoin mining operations while we develop the newly acquired property. It's a continuation of the progress we've been making across our platform to put Bitdeer in direct control of the sites that matter most to our growth."Keefe Bruyette said Bitdeer's Rockdale land acquisition is a "positive step for unlocking" the company's AI opportunities. The $100M purchase price is below Keefe's expectation, but it remains unclear whether the Service Line Replacement-controlled interconnection rights were transferred in the transaction, the analyst said. The firm kept a Market Perform rating on Bitdeer with a $10 price target.CIRCLE PRESIDENT TESTIFIES IN FAVOR OF GENIUS ACT:Circle Internetpresident Heath Tarbert testified before the House Financial Services Committee towhich establishes a federal framework for payment stablecoins covering reserve requirements, redemption at par, and disclosures that becomes effective no later than January 27, according to media reports. In his testimony, Tarbert described stablecoins as necessary tools for preserving U.S. dollar dominance in future global payment systems, adding that the U.S. should close offshore loopholes, according to 24/7 Wall Street.INTERNATIONAL FINANCIAL INSTITUTIONS PLAN STABLECOIN ENTERPRISE:Twenty‑one leading international financial institutions announced Tuesday that they have committed to establish a new company in 2H26, subject to closing conditions, toThe new company, whose name will be announced in due course, intends to operate globally, with its initial focus on a USD‑denominated stablecoin offering and a longer‑term ambition of expanding issuance into stablecoins denominated in additional G7 currencies, with a EUR offering as a priority.The companies said, "The initiative will draw on the expertise of the participant institutions to offer a safe, robust and trusted solution that combines bank‑grade compliance, strong governance, distribution and institutional risk management. The product will be utilised in a variety of use cases covering wholesale, institutional and retail markets where client benefits can be achieved by utilizing a trusted form of digital money, including cross-border payments and digital asset settlements."The group aims for its stablecoin solution to go to market in 1H27. The group comprises financial institutions headquartered across major geographies, namely: North America: Bank of America, Capital One, Citi, Fidelity Investments, Goldman Sachs, PNC Financial Services, Scotiabank, TD Bank Group, Wells Fargo, WisdomTree; Europe: Banco Santander, BBVA, Commerzbank, Crédit Agricole, Deutsche Bank, Lloyds Banking Group, Coöperatieve Rabobank U.A., UBS; East Asia: MUFG Bank; Middle East: Sirius International Holding; Africa: Standard Bank. The initiative intends to be GENIUS Act and MiCA‑compliant, as applicable. The group will continue to keep appropriate parties updated as the initiative progresses.OTHER CRYPTO NEWS:BitGoopens Singapore office,Strivepurchases 1,800 BTC, reportsHyperscale Dataceases BTC mining operations in Michigan, holdsBitmine ImmersionannouncesGalaxy Digitalprice targetat Morgan StanleyEightco HoldingsreportsSecuritizepartners with Socios.com to, signs MoU with Dubai's VARA to support advancement of tokenizationBitFuFuannouncesSoFi, Payward partner toKeefe views pact as positive developmentCango'sEcoHashat Georgia facilityCurrenc Capital, Mint partner toC1 Fundinitiatedon private market holdingsHyperliquid, Payward reportedlyCRYPTO STOCK PLAYS:Publicly traded companies in the space include Bit Digital, Coinbase, Core Scientific, Mara Holdings, Strategy, Riot Platformsand TeraWulf.PRICE ACTION:As of time of writing, bitcoin rose roughly 1% this week to $79,330 in U.S. dollars, according to CoinDesk.

Cango Subsidiary EcoHash Completes Key Milestones for AI Compute Business

Cango announced that its high-performance computing and AI inference subsidiary, EcoHash Technology, has completed key operational and commercial milestones for its AI compute business. EcoHash has completed the infrastructure modifications and retrofits for the dedicated AI compute section within Cango's owned 50MW Georgia facility. The dedicated AI compute section offers infrastructure that supports up to 3 megawatts of capacity, with scope for future expansion. Part of the initial deployment involves the delivery, installation, and testing of high-density compute containers, which have commenced their operational rollout through the power-on and activation of an initial batch of GPU servers. The containerized data center solution is designed as a modular building block for AI compute, enabling modular deployment and high-density GPU capacity in a compact footprint. By standardizing power, cooling, networking, and operations into a repeatable unit, this solution enables Cango to scale its AI infrastructure faster and more cost-effectively across suitable sites. Because these compute modules were deployed alongside Cango's existing mining infrastructure at the same Georgia site, EcoHash was able to minimize new construction and site retrofit work, accelerating the path from module delivery to power-on. EcoHash has begun providing commercial GPU compute services using part of its initial batch of GPU servers now in operation, with additional GPU deployment ongoing, marking the initial commercial utilization of EcoHash's GPU capacity at the Georgia site. The initial customer and prospective customers include GPU cloud platforms and AI-native cloud infrastructure providers. The company is also in discussions with additional prospective clients across other categories of AI compute users, including decentralized compute networks and advanced AI research laboratories.

Coinbase Introduces AI Agent Feature, MassPay Partners with Coinbase

As bitcoin, ethereum and other cryptocurrencies see major legal, institutional, and technological developments, the financial landscape continues to adapt. Stay up on the crypto news that matters with the "Crypto Currents" weekly from The Fly. Also, join us for your essential daily recap, every day at 2 PM ET on FlyCast radio.COINBASE INTRODUCES COINBASE FOR AGENTS:On Thursday, Coinbaseannounceda feature that connects a user's AI agent directly to their account to enable it to trade, pay and execute workflows on their behalf. The company said, "People are already using Large Language Models for a vast range of investment research and financial questions. But these LLMs often lack full context about your actual financial life and portfolio, and they can't take actions on your behalf. Today, we are changing that. Introducing Coinbase for Agents. Connect your favorite agent directly to your Coinbase account to trade, pay, and operate within limits you control. By giving your AI agent direct access to Coinbase, your agent can now do both financial reasoning and execution. The way people interact with the internet is changing. People are increasingly moving through the world via agents rather than apps — and businesses are rapidly rebuilding their products to be agent-first in turn. As that ecosystem grows, Coinbase for Agents is positioned to be your trading and spending account at the center of it."Additionally on Thursday, MassPay Holdings and Coinbase announced a strategic partnership to bring stablecoin-powered cross-border payout capabilities to businesses worldwide. The partnership combines MassPay's single-API global payout network, covering 180 countries across bank transfer, mobile wallet, and digital asset rails, with Coinbase's regulated digital asset infrastructure, institutional-grade safeguarding of digital assets, and extensive global licensing footprint. Together, they enable enterprise customers to move between fiat currency, USDC, and other digital assets without managing separate crypto infrastructure. "Stablecoin rails are becoming the standard for how global businesses move money, and our partnership with MassPay is a great example of that shift in action. MassPay's enterprise clients can now fund in USD, settle in USDC, and pay recipients globally — all within the infrastructure they already use. Coinbase handles the custody, compliance, and onchain infrastructure in the background, so MassPay can stay focused on delivering high-quality service to their clients." said Alec Lovett, Head of Infrastructure Products at Coinbase.FORWARD PROPOSES ACQUISITION OF BRERA HOLDINGS:Forward Industriesannounced Tuesday that itto Brera Holdingson June 1 to acquire the entire issued and to be issued share capital of SLMT in an all-stock transaction. Under the proposal, SLMT shareholders would receive 1.54 newly-issued shares of Forward Industries common stock for each SLMT share, representing a premium of approximately 30.7% to the volume-weighted average closing price of SLMT's ordinary shares over the ten trading days ended June 1 or $7.19 per share. The board of directors of SLMT chose to not engage in discussion with Forward and rejected the proposal on June 6 on the basis that "it does not consider the proposal to be in the best interest of the company".The company said, "Forward Industries respectfully disagrees and believes that the proposal is in the best interest of SLMT and, equally as importantly, the shareholders of SLMT, and is disappointed that SLMT has chosen to not engage in dialogue with the Forward team. Forward believes it is a strong partner and hopes that SLMT is open to further discussion to create an outcome that would create value for SLMT and its shareholders. We believe Forward's capital structure, its scale as the largest Solana treasury, and its access to capital position can realise and sustain the value embedded in SLMT more effectively than SLMT could on a standalone basis."Brera announced Thursday that itthis week at a price of approximately $64.20, as part of its ongoing strategy to make SOL acquisitions. The purchase was made using Solmate Infrastructure's cash reserves, and the company plans to continue deploying capital for further SOL purchases as it seeks to establish itself as the market leader among publicly traded Solana-focused investment and infrastructure companies.MASSPAY EXPANDS OFFERING VIA CIRCLE PAYMENTS NETWORK:MassPay announced Tuesday anprovided by Circle Internet Financial. Building on its existing integration with CPN, MassPay now leverages CPN Management Payments for stablecoin-enabled settlement. The integration enables MassPay customers to fund, manage, and send payouts using stablecoins, without directly managing digital assets or blockchain infrastructure."MassPay's expanded use of Circle Payments Network Managed Payments shows payments companies are looking to bring faster, cheaper, and programmable money movement into their core payout operations," said Irfan Ganchi, SVP of Product Management, Payments at Circle. "By leveraging managed infrastructure through CPN, MassPay enables customers to access stablecoin-powered workflows without directly managing digital assets."On Wednesday, Munify announced its integration with the Circle Payments Network to support stablecoin-based payouts into the Philippines. Through the integration, Munify enables users to receive funds globally in USDC and convert them into Philippine pesos for payout to local bank accounts and digital wallets."Munify's integration with CPN supports stablecoin-based payouts into the Philippines," said Ganchi. "By connecting to CPN, Munify enables more efficient conversion of digital dollars into local currency, helping streamline cross-border payment flows for users and businesses."CME GROUP LAUNCHES NASDAQ CME CRYPTO INDEX FUTURES:CME Groupannounced Tuesday the launch of NasdaqCME Crypto Index futures. At expiration, these contracts are financially settled to the value of thewhich measures the performance of the largest and most actively traded cryptocurrencies. As of June 9, the index includes bitcoin and bitcoin cash, ether, SOL, XRP, ADA, LINK, and lumens."With trading now officially underway, our new Nasdaq CME Crypto Index futures represent a major milestone in the expansion of our regulated digital asset marketplace," said Giovanni Vicioso, Global Head of Cryptocurrency Products. "In today's volatile markets, investors are increasingly seeking diversified exposure to the cryptocurrency ecosystem while retaining the capital efficiencies and transparency of a regulated futures marketplace. These contracts give clients a cost-efficient tool to hedge their risk or directly pursue broad-based crypto opportunities."Additionally on Monday, CME announced its new Bitcoin Volatility Index futures are available for trading. First trades were executed as blocks between DV Chain and Monarq Asset Management."The early support we've seen for our new Bitcoin Volatility futures further demonstrates the growing client demand for more innovative tools to more efficiently protect against adverse market moves," said Vicioso. "Our new 24/7 trading framework expands the utility of these contracts, allowing investors to isolate and precisely manage their portfolio's volatility risk and exposure at any hour of the day, any day of the week – unlocking a critical new layer of risk management."TRUMP CRYPTO PROFITS PROBED:A two-part Reuters investigation published Monday estimated the Trump familyincluding American Bitcoinand World Liberty Financial, while outside investors in those same projects suffered equivalent paper losses. The second installment reported that Eric Trump holds approximately 7.5% of American Bitcoin with no evidence he contributed commensurate capital, while the two Trump sons collectively hold approximately 20%, and American Bitcoin shares are down approximately 90% from their September 2025 IPO price. The dual investigation dropped on the same day the House Ways and Means Committee convened its full-committee hearing on digital asset taxation.OTHER CRYPTO NEWS:Strategyacquires, announces approval of STRC semi-monthly dividendsVisaannouncesStrivepurchasesas of June 5BitGolaunches institutionalintroduces Lightning Earn offering, BitGo MENA launches regulated electronic tradingHyperscale Datareports, announces Yorkville transactionBitmine ImmersionreportsEightco HoldingsreportsCore Scientificre-initiatedRiot Platformsprice targetat Keefe BruyetteNakamotosellsCanaanminesAI FinancialprovidesCangominesBitFuFuminesSolunaminesFigure TechnologytoFoldmonetizesZooz PowertoCRYPTO STOCK PLAYS:Publicly traded companies in the space include Bit Digital, Coinbase, Core Scientific, Greenidge Generation, Mara Holdings, Strategy, Riot Platforms and TeraWulf.PRICE ACTION:As of time of writing, bitcoin rose roughly 4% this week to $63,192 in U.S. dollars, according to CoinDesk.