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  • Prediction market volumes to hit $1 trillion by 2030 with Robinhood, Coinbase as key players, Bernstein says

    Prediction market volumes to hit $1 trillion by 2030 with Robinhood, Coinbase as key players, Bernstein says

    Wall Street broker Bernstein expects prediction market volumes to reach roughly $1 trillion by 2030, as the sector evolves from niche wagering into broad-based “information markets” spanning sports, crypto, politics and the economy.

    Volumes hit $51 billion last year and are on pace to reach about $240 billion in 2026, implying roughly 80% compound annual growth through the end of the decade, the report said. Activity has already accelerated in 2026, with Polymarket and Kalshi recording combined year-to-date volumes of $60 billion.

    “Increasing regulatory clarity at the federal level is expanding the addressable market, while blockchain-based tokenization and integration with crypto markets is enabling global liquidity, long-tail event creation and participation from institutions,” wrote analysts led by Gautam Chhugani.

    Prediction markets have surged from a niche corner of crypto and academic experimentation into a fast-growing segment of global trading activity in just a few years.

    Volumes have spiked alongside major news cycles, most notably the 2024 U.S. election, while platforms like Polymarket and Kalshi have expanded access beyond politics into sports, crypto and macroeconomic events.

    The combination of clearer U.S. regulatory footing, improved user experience and the integration of blockchain-based liquidity has accelerated adoption, pushing the sector toward mainstream relevance

    The report attributed the growth to improving federal regulatory clarity, which expands access beyond fragmented state-level gaming rules, alongside blockchain-based infrastructure that enables global liquidity and rapid creation of new event contracts.

    Sports currently accounts for about 62% of volumes, benefiting from lower effective take rates versus traditional online sportsbooks. But the analysts expect that share to fall to roughly 31% by 2030, as crypto-linked contracts and macro, political and economic events gain traction. Institutional participation is also expected to grow, particularly for hedging event-driven risks.

    $10.8 billion in revenue

    Bernstein analysts estimate industry revenues could expand from roughly $400 million in 2025 to $2.5 billion in 2026, reaching about $10.8 billion by 2030 at current take rates. Even with significant fee compression, they see potential for a multi-billion-dollar revenue pool.

    Distribution is emerging as a key competitive moat. The report pointed to Robinhood (HOOD) and Coinbase (COIN) as early leaders, leveraging their combined tens of millions of users.

    Robinhood has already built a $350 million annualized revenue run rate from prediction markets and is moving toward owning exchange infrastructure, while Coinbase entered via Kalshi with nationwide access to more than 1,000 contracts, the report added.

    The broker has an outperform rating on both Coinbase and Robinhood.

    Read more: Why Cantor Fitzgerald thinks Robinhood and Coinbase are the best ways to play the prediction market boom

  • Katy Perry Under Investigation by Australian Police Following Ruby Rose Sexual Assault Allegations

    Katy Perry Under Investigation by Australian Police Following Ruby Rose Sexual Assault Allegations

    Katy Perry is under investigation by Australian police following graphic sexual assault claims from Orange Is the New Black star Ruby Rose.

    The Victoria Police have confirmed to The Hollywood Reporter: “Melbourne Sexual Offenses and Child Abuse Investigation Team (SOCIT) detectives are investigating [an alleged] historical sexual assault that occurred in Melbourne in 2010. Police have been told the incident occurred at a licensed premises in Melbourne’s [Central Business District]. As the investigation remains ongoing, it would be inappropriate to comment further at this stage.”

    Earlier this week, Rose wrote online that she’d “just left the police station” after alleging on Threads that Perry sexually assaulted her at a nightclub in Melbourne some years ago.

    On Sunday, the Australian Batgirl actress wrote in response to a comment about Perry being at Coachella: “I was only in my early 20s. I’m now 40. It has taken almost 2 decades to say this publicly … I told the story publicly but changed it to be a ‘funny little drunk story’ because I didn’t know how else to handle it. Later she agreed to help me get my US visa. So I kept it a secret. But I DID tell yall she wasn’t a good person. Instead I got attacked by.. everyone.”

    After a fan, referencing Perry’s 2008 hit “I Kissed a Girl,” said: “She kissed a girl and you didn’t like it?” Rose responded: “She didn’t kiss me. She saw me ‘resting’ on my best friends lap to avoid her and bent down, pulled her underwear to the side and rubbed her disgusting vagina on my face until my eyes snapped open and I projectile vomited on her.”

    Rose initially said she was “not interested in filing a [police] report over this,” but said in a Tuesday Threads post that she’d “finalized all of my reports” and would no longer be able to “comment, repost, or talk publicly about any of those cases, or the individuals involved.”

    The alleged offence was swiftly refuted by the popstar’s team on Monday. They called the claims “reckless lies.”

    “The allegations being circulated on social media by Ruby Rose about Katy Perry are not only categorically false, they are dangerous, reckless lies. Ms. Rose has a well-documented history of making serious public allegations on social media against various individuals, claims that have repeatedly been denied by those named,” said a rep for Perry.

    The Hollywood Reporter did not immediately hear back from reps for Perry or Rose about the police investigation on Wednesday.

  • Researchers May Have Found the Antidote to Social Media Brain Rot: Experimental Film

    Researchers May Have Found the Antidote to Social Media Brain Rot: Experimental Film

    When Jonathan Schooler and Madeleine Gross were designing an experiment on creativity, they needed a type of media to contrast with the empty-calorie content of cat videos and the like on YouTube

    The scientists settled on challenging animated shorts. “We wanted to push the poles as far apart as possible,” Gross — who like Schooler conducts her research at the University of California, Santa Barbara — said in an interview.

    The results after doing so were eye-opening even to them:  among a totally random population, levels of creativity for the people watching the experimental films were immediately higher compared to those watching YouTube videos, which didn’t move much at all. So was openness to seeing the world in new ways.

    For years many people have had the sense that the kind of low-nutrition, algorithmically driven videos that flash across our feeds and brainscapes dozens of times per day are bad for us. Schooler and Gross have a new column of scientific evidence.  Even more important (and encouraging): they have a prescription for what to do about it. 

    Just watching a few minutes of an ambiguous or challenging video — the kind of shorts shown at film festivals or on the indie-minded Short of the Week — can make the difference. It’s a kind of “even mild exercise can add years to your life” discovery, only for the brain.

    “What we found is that even small doses of it can have real value,” Schooler, a distinguished professor at UCSB and well-known researcher, said in his own interview. The results will be published in the academic journal Psychology of Aesthetics, Creativity, and the Arts.

    Traditional experiments on the cognitive value of the arts tend to focus on more intensive, ongoing programs, like arts education for kids. But the new findings suggest that even something quick can make a difference. And they can happen in minds already long developed. These traits of openness and creativity, Gross says, are not fixed based on previous experiences, let alone birth.

    While the results sound like they were sponsored by A24, the experiment was designed with plenty of scientific rigor. Researchers split nearly 500 random participants into two groups: those who watched the animated shorts (which came from the Sugar 23-backed platform Short of the Week) and those who watched the viral-video content (“home-video-style domestic antics”).

    They then asked subjects to devise a five-sentence short story and also sought to measure subjects “openness” and “conceptual expansion” —  the researchers’ terms for a flexible, multimodal sort of thinking — by asking them to note connections between seemingly different concepts. The subjects who watched the challenging films scored much higher on both metrics. This despite (or because) of the fact that the participants actually reported liking the viral videos more.

    “What it said to us is that we enjoy these kinds of [social-media] videos but they aren’t doing much for our brains. And the challenging shorts were having an immediate positive impact,” Gross said.

    The researchers say this may have happened because the ambiguities force our brains to consider alternate and original possibilities instead of simply falling into well-worn mental ruts. Think of it as a salad vs. a cheeseburger: it may not taste as good, but it’s going to do a lot more for your quality of life.

    In one way, literally — the particular trait of openness can even be correlated, Gross says, to a longer life.

    A trend has been developing in recent years toward considering the effects of social-media platforms and their algorithms optimized for engagement, and limiting intake in-kind. As people start considering their media diets as much as as their food-based ones, then, studies like the UCSB report could be key to that effort.

    The movement could gain even more steam in the age of AI content, with its likely wave of slop instantly generated to fit personal wants in a way that more blindly produced social-media content never could.

    Schooler and Gross say that their results should be taken with some caveats. But, they add, this doesn’t mean the benefits aren’t tangible.

    “I wouldn’t want to suggest everyone can turn into John Updike with exposure to seven-minute films,” Schooler said. “But there’s a range of capacity that we each have, and almost all of us are not at the top of that range. We can all get closer by doing something like this.”

  • Fed Chair Nominee Kevin Warsh Discloses Vast Wealth, Investments in Polymarket and SpaceX

    Fed Chair Nominee Kevin Warsh Discloses Vast Wealth, Investments in Polymarket and SpaceX

    In brief

    • Fed Chair nominee Kevin Warsh disclosed a net worth exceeding $100 million.
    • His investments span crypto, tech startups, and traditional finance.
    • Despite support, his nomination faces delays tied to a DOJ investigation of current Fed Chair Jerome Powell.

    President Donald Trump’s nominee to lead the Federal Reserve disclosed a vast fortune Tuesday worth well over $100 million, which includes numerous investments in the crypto sector and other emerging tech startups.

    Kevin Warsh, a former Fed governor with deep Wall Street ties, was required to disclose his personal finances as part of his Senate confirmation process. His filing reveals a significant net worth. Warsh has $100 million parked in a single investment fund, for instance—one of dozens of investments and income streams the former banker was required to make public.

    In his previous stint at the Fed, Warsh played a key role in the historic bank bailouts that followed the 2008 financial crisis. His current investments run the gamut from traditional finance to emerging technology firms, including several in the crypto sector.

    Among Warsh’s listed investments, for instance: blockchain network Solana, yield-focused Ethereum layer-2 network Blast and Optimism, Ethereum DeFi lending protocol dYdX, NFT company Dapper Labs, and Polychain, a crypto venture firm. His other crypto investments include Bitcoin trading platform Flashnet, Ethereum developer platform Tenderly, and DeSo, an on-chain social media startup.

    The Fed Chair nominee has also invested in a slew of emerging tech ventures, including Contraline (a “reversible male contraceptive solution”), Cionic (“bionic movement-enhancing wearable clothing”), and Arc Boats, an electric boating company.

    Warsh further disclosed a slew of investments in AI-focused companies—plus exposure to crypto-fueled prediction market juggernaut Polymarket, and Elon Musk’s SpaceX, which is gearing up to launch a potential record-breaking IPO.

    Though Warsh appears to enjoy support on Capitol Hill, his path back to the Fed is far from simple. The Trump Justice Department is currently pursuing a criminal investigation of sitting Fed Chair Jerome Powell—a longtime thorn in the side of the president—and key senators have signaled they will refuse to advance Warsh’s nomination until that investigation is resolved.

    Though the Justice Department’s case against Powell has incurred major setbacks, the Trump administration appears intent on continuing to pursue the matter.

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  • Google’s Gemma Already Acts Like Gemini—Someone Made It Think Like Claude Opus Too

    Google’s Gemma Already Acts Like Gemini—Someone Made It Think Like Claude Opus Too

    If you’ve been following the local AI scene, you probably know Qwopus—the open-source model that tried to distill Claude Opus 4.6’s reasoning into Alibaba’s Qwen, so you could run something resembling Opus on your own hardware for free. It worked surprisingly well. The obvious catch: Qwen is a Chinese model, and not everyone is comfortable with that.

    Jackrong, the same pseudonymous developer behind that project, heard the feedback. His answer is Gemopus—a new family of Claude Opus-style fine-tunes built entirely on Google’s open-source Gemma 4. All-American DNA, same idea: frontier-level reasoning, running locally on hardware you already own.

    The family comes in two flavors. Gemopus-4-26B-A4B is the heavier option—a Mixture of Experts model that has 26 billion total parameters but only activates around 4 billion during inference, which means it punches well above its weight on constrained hardware.

    Parameters are what determine an AI’s capacity to learn, reason, and store information. Having 26 billion total parameters gives the model a huge breadth of knowledge. But by only “waking up” the 4 billion parameters relevant to your specific prompt, it delivers the high-quality results of a massive AI while remaining lightweight enough to run smoothly on everyday hardware.

    The other is Gemopus-4-E4B, a 4-billion parameter edge model engineered to run comfortably on a modern iPhone or a thin-and-light MacBook—no GPU required.

    The base model choice matters here. Google’s Gemma 4, released on April 2, is built directly from the same research and technology as Gemini 3—the company said so explicitly at launch. That means Gemopus carries something no Qwen-based fine-tune can claim: The DNA of Google’s own state-of-the-art closed model under the hood, wrapped in Anthropic’s thinking style on top. The best of both worlds, more or less.

    What makes Gemopus different from the wave of other Gemma fine-tunes flooding Hugging Face right now is the philosophy behind it. Jackrong deliberately chose not to force Claude’s chain-of-thought reasoning traces into Gemma’s weights—a shortcut most competing releases take.

    His argument, backed by recent research, is that stuffing a student model with a teacher’s surface-level reasoning text doesn’t actually transfer real reasoning ability. It teaches imitation, not logic. “There is no need for excessive imagination or superstitious replication of the Claude-style chain of thought,” the model card reads. Instead, he focused on answer quality, structural clarity, and conversational naturalness—fixing Gemma’s stiff Wikipedia tone and its tendency to lecture you about things you didn’t ask.

    AI infrastructure engineer Kyle Hessling ran independent benchmarks and published the results directly on the model card. His verdict on the 26B variant was pretty favorable. “Happy to have benched this one pretty hard and it is an excellent finetune of an already exceptional model,” he wrote on X. “It rocks at one-shot requests over long contexts, and runs incredibly fast thanks to the MOE (mixture of experts) architecture.”

    The smaller E4B variant passed all 14 core competence tests—instruction following, coding, math, multi-step reasoning, translation, safety, caching—and cleared all 12 long-context tests at 30K and 60K tokens. On needle-in-haystack retrieval, it passed 13 out of 13 probes including a stretch test at one million tokens with YaRN 8× RoPE scaling.

    The 26B extends natively to 131K context and all the way out to 524K with YaRN, which Hessling also stress-tested: “It also crushed my simple needle-in-the-haystack tests all the way out to an extended context of 524k!”

    On edge hardware, the E4B is genuinely fast. Jackrong reports 45–60 tokens per second on iPhone 17 Pro Max, and 90–120 tokens per second on MacBook Air M3/M4 via MLX. The 26B MoE architecture means it offloads gracefully on unified memory systems or GPUs with under 10GB of VRAM. Hessling called it his daily driver recommendation for VRAM-starved setups.

    Both models are available in GGUF format, which means you can drop them straight into LM Studio or llama.cpp without configuration. The full training code and a step-by-step fine-tuning guide are on Jackrong’s GitHub—same pipeline he used for Qwopus, same Unsloth and LoRA setup, reproducible on Colab.

    Gemopus is not without its rough edges. Tool calling remains broken across the entire Gemma 4 series in llama.cpp and LM Studio—call failures, format mismatches, loops—so if your workflow depends on agents using external tools, this is not your model yet. Jackrong himself calls it “an engineering exploration reference rather than a fully production-ready solution,” and recommends his own Qwopus 3.5 series for anyone who needs something more stable for real workloads.

    And because Jackrong deliberately avoided aggressive Claude-style chain-of-thought distillation, don’t expect it to feel as deeply Opus-brained as Qwopus—that was a conscious tradeoff for stability, not an oversight.

    For those who want to go deeper into Gemma fine-tuning for reasoning specifically, there is also a separate community project worth watching: Ornstein by pseudonmyous developer DJLougen, which takes the same 26B Gemma 4 base and focuses specifically on improving its reasoning chains without relying on the logic or style of any specific third party model.

    One honest caveat: Gemma’s training dynamics are messier than Qwen’s for fine-tuners—wider loss fluctuations, more hyperparameter sensitivity. Jackrong says so himself. If you need a more battle-tested local model for production workflows, his Qwopus 3.5 series remains more robustly validated. But if you want an American model with Opus-style polish, Gemopus is currently your best available option. A denser 31B Gemopus variant is also in the pipeline, with Hessling teasing it as “a banger for sure.”

    If you want to try running local models on your own hardware, check our guide on how to get started with local AI.

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  • Avdija scores 41 as Trail Blazers upset Suns in NBA West play-in

    Avdija scores 41 as Trail Blazers upset Suns in NBA West play-in

    Deni Avdija scored 41 points, and his ‌three-point play with 16.1 seconds remaining capped the Portland Trail Blazers’ comeback from an ⁠11-point fourth- quarter deficit ⁠for a 114-110 victory over the host Phoenix Suns in a National Basketball Association (NBA) play-in game on Tuesday.

    The Trail Blazers ended a four-year playoff drought and will open a best-of- seven ⁠Western Conference playoff series against the No 2 seed San Antonio Spurs on Sunday.

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    The Suns will have another chance to make the playoffs on Friday, when they will host the winner of ⁠the Wednesday play-in game between the Golden State Warriors and the Los Angeles Clippers.

    The winner of the Friday contest will be the No 8 seed and will meet the defending league champion and No 1 seed Oklahoma City Thunder in the first game of a seven-game set on Sunday.

    Jordan Goodwin ‌sank a reserve layup with 32.5 seconds left to put the Suns up 110-109, but he missed a free throw after being fouled on the play. The Blazers rebounded and called a timeout to set up Avdija’s drive through the lane.

    Phoenix’s Jalen Green missed a 3-point attempt with six seconds remaining. On the rebound, Portland’s Matisse Thybulle stole the ball from Goodwin and found Jerami Grant alone for a dunk with six-tenths of a second remaining.

    Avdija had 14 ⁠points in the fourth quarter, and he finished with 12 ⁠assists and seven rebounds.

    Jrue Holiday added 21 points and Grant had 16, including two late 3-pointers as the Blazers finished the game on a 17-5 run.

    Green scored 35 points, Devin Booker had 22 and Dillon Brooks added 20 for ⁠the Suns.

    The Suns trailed 83-82 entering the fourth quarter but scored the first 11 points for a 10-point edge, extending a longer 24-4 run ⁠that began after Avdija made a layup to give the Blazers ⁠a 79-69 lead midway through the third quarter.

    Holiday and Avdija hit 3-pointers as the Blazers closed the deficit to 100-97 with 4:15 left, before Donovan Clingan was called for a flagrant-1 foul for pulling Brooks down on Avdija’s make.

    Grant made a ‌3-pointer, and Shaedon Sharpe hit two free throws with 2:29 left, bringing the Trail Blazers within 105-104 with 2:29 left.

    Grant’s next trey put the Blazers in front 107-106 before Booker’s ‌free ‌throws gave the Suns a 108-107 lead with 1:34 to go. After a Portland turnover and a Booker miss, Avdija hit a driving lap for a 109-108 lead, with 37.3 seconds remaining before Goodwin’s layup.

    Deni Avdija in action.
    Avdija, left, shot 15-for-22 from the field in his 41-point performance along with 12 assists and seven rebounds [Mark J. Rebilas/Imagn Images via Reuters]

    Ball lifts Hornets against Heat in elimination play-in

    Earlier on Tuesday, LaMelo Ball hit a go-ahead layup with 4.7 seconds ‌left, and Miles Bridges blocked Davion Mitchell’s shot at the buzzer, as the Charlotte Hornets beat the visiting Miami Heat 127-126 ⁠in overtime to ⁠advance in the play-in tournament.

    Ball scored 30 points and Bridges added 28 for ninth-place Charlotte, which forced overtime when Coby White made one of his five 3-pointers with 10.8 seconds remaining in regulation.

    “He’s been huge since he got ⁠here,” Hornets coach Charles Lee said of White. “He showed who he is again tonight in a big moment, in a win-or-go-home game. He didn’t have a great first half, but he continued to stick with it and came up with big plays down ⁠the stretch.”

    Brandon Miller had 23 points for the Hornets and White finished with 19. Moussa Diabate added eight points and 14 rebounds.

    The Hornets will travel to face the loser of Wednesday’s matchup between the seventh-place Philadelphia 76ers and the eighth-place Orlando Magic on Friday for a chance to meet the top-seeded Detroit Pistons in the first round of the Eastern Conference playoffs.

    “It just shows the character of the team at the end ‌of the day,” Lee said. “Execution is not always going to be perfect, but these guys find a way to stick with it … And that winning effort and competitiveness and togetherness to come up with a big-time block at the end of the game just shows who we are.”

    Mitchell led 10th-place Miami with 28 points and Andrew Wiggins added 27. Heat centre Bam Adebayo exited with a lower-back injury after taking a hard fall early in the second quarter when Ball appeared to swipe at Adebayo’s left foot. Adebayo did not return.

    “I don’t think it’s cute. I don’t think it’s funny. I think it’s a stupid play,” Miami coach Erik Spoelstra ⁠said. “It’s a dangerous play. He should be penalised for that. I don’t think that belongs in ⁠the game, tripping guys. Somebody has got to see that. He should have been thrown out of the game for that.”

    Ball denied trying to intentionally trip Adebayo.

    “I apologise for that one,” Ball said afterwards. “I got hit in the head, didn’t really know where I was, but I’m going to check on him and see if ⁠he is OK.”

    Herro scored 23 points, Jaime Jaquez Jr added 13 points, Kelel Ware had 12 points and 19 rebounds and Norman Powell chipped in 11. Miami’s season came to an end in a game ⁠that featured 17 ties and 16 lead changes.

    LaMelo Ball in action.
    LaMelo Ball #1 of the Charlotte Hornets drives to the basket for the game-winning shot in overtime against the Miami Heat on April 14, 2026, at Spectrum Center in Charlotte, North Carolina, US [Brock Williams-Smith/Getty Images via AFP]
  • Trump turns on Meloni, saying she lacks ‘courage’ over US-Israel war on Iran

    Trump turns on Meloni, saying she lacks ‘courage’ over US-Israel war on Iran

    The US president says he is ‘shocked at her’, delivering a blunt public rebuke to one of his closest European allies.

    United States President Donald Trump has attacked Italian Prime Minister Giorgia Meloni, one of his main European allies, over her unwillingness to join the war on Iran.

    “I’m shocked at her. I thought she had courage, but I was wrong,” he said in an interview with Italian daily Corriere della Sera on Tuesday.

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    The interview was published the day after Meloni condemned as “unacceptable” Trump’s criticism of Pope Leo XIV, following the pontiff’s repeated calls for an end to the war in the Middle East.

    “She’s unacceptable because she doesn’t mind that Iran has a nuclear weapon and would blow up Italy in two minutes if they had the chance,” Trump said in English.

    Meloni, Italy’s leader since October 2022, used to be one of Trump’s closest allies in Europe and often sought to act as a mediator between diverging US and European views.

    But the president said they had not spoken this month, “not in a long time”, saying: “She doesn’t help us with NATO.

    “She doesn’t want to help get rid of a nuclear-weaponed Iran. Very sad … She’s much different than I thought,” Trump added.

    He described the NATO military alliance as a “paper tiger” and criticised Europe, in general, for not being “willing to fight for the Hormuz Strait, which is where they get their energy”.

    Trump said Meloni was “not the same person. Italy is not the same country. Immigration is killing Italy and all of Europe.”

    Local support for Meloni

    The Italian prime minister’s allies and political opponents were swift to offer their support.

    “We are and remain staunch supporters of Western unity and steadfast allies of the United States, but this unity is built on mutual loyalty, respect, and honesty,” Foreign Minister Antonio Tajani said on X.

    He said that until now, Trump considered Meloni a courageous person, and “he was not mistaken, but she is a woman who never shies away from saying what she thinks.”

    Elly Schlein, leader of the centre-left Democratic Party, condemned Trump’s “serious lack of respect”.

    “Our constitution is clear – Italy repudiates war,” she added in parliament.

    Separately on Tuesday, Italy suspended a defence agreement with Israel that involves the exchange of military equipment and technology research.

    “In view of the current situation, the government has decided to suspend the automatic renewal of the defence agreement with Israel,” Meloni said, according to Italian media.

    Tensions between Italy and Israel have been high after the Italian government accused Israeli forces of firing warning shots at a convoy of Italian peacekeepers in Lebanon last week.

  • Vietnamese Romance ‘Meet Me at the Eclipse’ Sets North American Theatrical Release After Record Home Box Office (EXCLUSIVE)

    Vietnamese Romance ‘Meet Me at the Eclipse’ Sets North American Theatrical Release After Record Home Box Office (EXCLUSIVE)

    Vietnamese romantic drama “Meet Me at the Eclipse” (Hẹn Em Ngày Nhật Thực) will open theatrically across North America on May 8, distributed worldwide by Mockingbird Pictures, following a dominant run at the Vietnamese local box office that has seen it clear $4 million and climb into the record books.

    Directed by Lê Thiện Viễn and produced by Lý Minh Thắng under Cánh Đồng Film, the film opened in Vietnam on March 27 and has held the top spot on the national chart for three consecutive weeks. It now ranks as the second highest-grossing original screenplay romance in Vietnamese box office history, behind only “Mai,” the 2024 hit directed by Trấn Thành.

    The film uses a 1995 solar eclipse as its central metaphor, tracing the journey of a woman who discovers a cache of unsent love letters and travels back to her rural hometown, where a reunion with her first love forces a reckoning with the past she never fully closed. The theatrical strategy for North America is being overseen by Thanh Tran of Mockingbird Pictures, with engagements confirmed at AMC, Regal Cinemas, and Cinemark locations.

    A day earlier, on May 7, the film will also open theatrically in Australia and New Zealand. Mockingbird is in advanced negotiations for releases in China, Taiwan, Japan, and South Korea, with dates yet to be confirmed for those territories.

    Phong Duong, business director of Mockingbird Pictures, noted: “Our ambition is to position Vietnamese and Southeast Asian cinema as a sustained presence on the global stage – not through isolated breakout titles, but by building a long-term ecosystem where local stories can travel, resonate, and thrive across international markets.”

    Over the past decade, Mockingbird Pictures has built a substantial distribution operation in Vietnam, putting out more than 60 films in cinemas each year while maintaining a digital slate of over 100 titles annually across streaming platforms, among them Netflix. The company has increasingly extended that reach into international sales, with a growing focus on cross-border theatrical releases.

  • Cannes Sets Japan IP Market in Collaboration With Tokyo International Film Festival Content Market

    Cannes Sets Japan IP Market in Collaboration With Tokyo International Film Festival Content Market

    Cannes is set to welcome a Japan IP market at this year’s festival.

    Cannes market, the film festival’s business hub, is collaborating with Tokyo International Film Festival Content Market (TIFFCOM) on the strategic gathering, which will run from May 15 to 17.

    The news comes as Japan readies to take the spotlight at this year’s market after being named the 2026 Country of Honor.

    The Japan IP market, which will take place on the Art Explora catamaran at Cannes’ Vieux-Port, is set to be a high-level networking platform for international companies to meet with their Japanese counterparts and discuss a selection of leading IP across cinema, animation and publishing originating from Japan. There will be opportunities to set up one-on-one business meetings, pitch sessions and a curated program of presentations and conferences.

    The event will also include a focus on the relationship between France Japan, highlighting the creative and industrial partnership between the two countries.

    Among IP holders set to attend are Amuse Creative Studio, Kadokawa Corporation, Nihon Bungeisha, Nippon Animation, Shochiku, Shufu To Seikatsu Sha and Toei Company.

    Keynote seminar “The Future of Japanese IP in Global Adaptations,” presented by “One Piece” exec producer and Filosophia CEO Tetsu Fujimura, is set for May 15 at 10am. Pitch sessions will take place on May 16 and one-to-one meetings throughout the three days of the IP market. Pre-registration is required.

    “We are thrilled to demonstrate how the Country of Honour program can create new opportunities for collaboration, and the launch of the Japan IP Market with TIFFCOM is a perfect illustration,” says Marché du Film exec director Guillaume Esmiol. “Japan is renowned as the birthplace of some of the world’s most powerful IP, from manga and anime to novels, remakes and video games. This new initiative will create further opportunities to foster international collaborations. At the same time, it reinforces the growing importance of the IP market at the Marché du Film, which has been a key strategic focus for several years.”

    TIFFCOM CEO Yasushi Shiina said: “The Japan IP Market is an important step for Japanese intellectual property on the global stage. We are very pleased to launch this platform with the Marché du Film, especially with Japan as Country of Honour this year. This is the ideal environment to highlight and showcase the extraordinary adaptability and creativity of Japanese content across multiple formats and markets. By bringing together key players from Japan and around the world in Cannes, we aim to create new opportunities for business and international growth.”

  • Ethereum treasury firm Bitmine reports $3.8 billion Q1 loss in latest filing

    Ethereum treasury firm Bitmine reports $3.8 billion Q1 loss in latest filing

    Bitmine Immersion Technologies has turned itself into the Ethereum version of Strategy, doubling its outstanding shares in six months and raising over $10 billion in equity to amass nearly 5% of all ether in existence.

    it reported a $3.8 billion quarterly net loss in Tuesday’s 10-Q filing, with share count going from 232 million to 494 million between August 31 and February 28.

    Additional paid-in capital jumped from $8.36 billion to $18.55 billion over the same period, and those funds went straight into $ETH.

    As of April 12, Bitmine held 4.87 million ether at an average cost of $2,206 per token, making it the largest corporate Ethereum treasury globally and the second-largest corporate crypto treasury behind Strategy.

    The bet is underwater but not by much. Ether traded near $2,325 on Wednesday, roughly 5% above Bitmine’s average entry. The $3.78 billion in unrealized losses on the quarter’s income statement reflects the drawdown from the token’s August 2025 highs near $4,900, not a loss from its cost basis.

    Under fair-value accounting rules adopted in 2024, those mark-to-market swings flow through the P&L regardless of whether the company has sold anything.

    But the transformation from mining company to leveraged $ETH treasury play is creating its own set of pressures.

    Self-mining revenue collapsed 86% year-over-year to $219,000 for the quarter. Staking has replaced it entirely, generating $10.2 million of the company’s $11 million in total quarterly revenue.

    General and administrative expenses hit $75 million for the quarter, up from $964,000 a year earlier. For the full six-month period, G&A reached $298.6 million against just $13.3 million in revenue. Some of that likely reflects stock-based compensation tied to the equity raises, but the gap between operating costs and operating revenue is stark for a company whose core product is now holding and staking a single token.

    The filing also reveals derivatives exposure that wasn’t previously detailed.

    Bitmine booked $65.3 million in unrealized losses on derivatives and $24.1 million in option premium income during the quarter, suggesting the company is running options strategies on its $ETH holdings, possibly covered calls to generate additional yield.

    Chairman Tom Lee said in March that the company views the ether pullback as “attractive, given the strengthening fundamentals,” and noted Monday that Bitmine has accelerated its buying pace over the past four weeks.

    Bitmine held $879.6 million in cash as of February 28, along with 198 bitcoin, a $200 million stake in Beast Industries, and an $85 million position in Eightco Holdings.