Can Bill Ackman save the closed-end fund?

The Bitcoin treasury company could acquire an estimated 7,372 BTC with its net proceeds, potentially surpassing Metaplanet’s holdings if it allocates the full amount.

Wall Street is fleeing tech for toothpaste and shampoo. Even those stocks are getting expensive.

Oct 20, 2026, 1:02 p.m. EDT5 min readBlockTower Capital founder Ari Paul publicly accused Coinbase of losing roughly $25 million of his firm's assets and concealing hacks totaling more than $1 billion across a dozen institutions. Coinbase flatly denies it, Paul says active litigation prevents him from publishing his evidence, and the industry has spent the weeks since arguing about who is telling the truth. The argument misses the most uncomfortable fact in the story: nobody outside the two parties involved can check. That is a strange place to land for an industry built on an asset designed so that no one would have to take anyone's word for anything. A custodian holding assets for much of the market stands accused of billion-dollar concealment, and the only tools available for evaluating the claim are the accuser's credibility and the custodian's word.

Several states are dealing with ballot measures tied to taxing the rich — and there may be even more initiatives on this front in 2028.