Crypto companies are increasingly building businesses that don’t depend on crypto booming forever.
In this episode of The Daily Wolf, Scott Melker explains why Wintermute is spending $1 billion to expand into traditional markets and AI, as weaker crypto trading volumes push major companies toward new sources of revenue. The shift follows a broader pattern: Bitcoin miners are becoming AI infrastructure companies, exchanges are expanding into prediction markets and equities, and crypto platforms are racing to become everything apps.
Scott also breaks down Goldman Sachs’ $2.3 billion acquisition of ETF provider Neos and its Bitcoin income fund, Fidelity’s move to add staking rewards to its Ethereum ETF, Tether’s massive gold purchases, earnings from Securitize and BitGo, and why investors should stay away from "zombie" crypto projects.
Timestamps
00:00 Bitcoin ignores another inflation report
01:23 PPI comes in below expectations
02:25 Goldman Sachs makes a $2.3 billion ETF acquisition
03:14 Goldman buys into Bitcoin income
04:13 Fidelity adds Ethereum staking rewards
05:21 Why yield is becoming essential in crypto
05:45 Wintermute makes a $1 billion AI push
07:06 Crypto companies move beyond crypto
07:50 Tether buys gold like a central bank
09:33 Securitize struggles after earnings
10:38 BitGo revenue surges, but profits don’t
12:11 How not to invest
12:47 Another "zombie" blockchain gets exploited
14:04 Why something down 99% can fall another 99%
#Bitcoin #Crypto #GoldmanSachs #AI #Wintermute #Ethereum #Tether #ETFs #ScottMelker #TheDailyWolf #YahooFinance
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