Investment bank Compass Point downgraded Bitcoin mining company's MARA rating to sell

The firm eyes to benefit from the rapid growth of Ethena's digital dollar USDe, fitting into a broader trend of listed companies accumulating cryptocurrencies.

Sun is a key investor in the project and holds around $700 million worth of WLFI tokens, mostly vested.

[Federal Reserve Official Says No Reason to Cut Rates This Month] Cleveland Federal Reserve President Beth Hammack stated that inflation is still above the Fed's 2% target and continues to rise, so there is no reason to cut rates this month. She noted that businesses are facing supplier price pressures and emphasized the importance of the Fed's independence in maintaining low inflation.

The current price of ETH is $4273.53, with a drop of 4.30% in the past 24 hours. Among them, the total liquidation amount of contracts across the entire network in the past 1 hour was 13.87 million US dollars, with multiple orders being the main liquidation and 5.68 million US dollars (40.97%) of ETH liquidation. The data is for reference only.

CEO Dylan Field distanced the company’s crypto position from evangelist extremes, saying bitcoin is part of a diversified cash approach.