News

The Sui mainnet experienced an outage lasting approximately 5 hours and 55 minutes after a bug introduced in a network update caused a crash. The network has since resumed normal operations. No financial impact or remediation details were disclosed in the report.

Bit Digital disclosed it purchased $20 million worth of Ethereum — its first ETH acquisition since October — shortly before ETH prices dropped approximately 15%. The timing of the purchase means the company likely faces an unrealized loss on the position. No further details on the size of the ETH holdings or the company's broader treasury strategy were provided in the article.

Eli Lilly's stock declined after data showed Novo Nordisk's oral Wegovy outperforming Lilly's newly launched weight-loss pill, Foundayo. The comparison highlights intensifying competition in the oral GLP-1 weight-loss drug market. Both companies are vying for market share in the rapidly growing obesity treatment segment.

Hims & Hers Health is pivoting away from GLP-1 compounding, announcing it will allow providers to prescribe scripts filled through LillyDirect, Eli Lilly's direct-to-consumer platform. The move marks a strategic retreat from compounded GLP-1 drugs, which had been a key growth driver for the company. The stock is falling on the news, as the so-called "Netflix" argument — that Hims could build a subscription-based weight-loss platform — loses credibility.