On March 18th, according to TechCrunch, xAI, a subsidiary of Elon Musk, has officially acquired Hotshot, an AI video generation startup that focuses on developing artificial intelligence video generation technology similar to OpenAI Sora. Hotshot stated on its website that it will cease new video production services starting from March 14th, and it is currently unclear whether all Hotshot employees will join xAI.

According to BlockBeats, on March 18th, Bakkt Holdings (BKKT), a cryptocurrency trading and custody company, disclosed that both Bank of America (BAC) and Webull Pay will not renew their contracts, causing their stock prices to plummet 35% to $12.83 after trading on Monday. According to the agreement, Bank of America's contract will terminate on April 22nd, while Webull's collaboration will end on June 14th. In addition, Bakkt has applied to the US Securities and Exchange Commission (SEC) for an extension to submit its 2024 annual report.

Newly appointed CFO Dan Chen announced the news on Monday in a post on X. Chen’s arrival follows Bloomberg reports that Gemini is considering an initial public offering, which could happen sometime this year.  

BlockBeats News: On March 18th, TRON DAO announced that the TRON network will achieve annual revenue of over $2 billion in 2024, a year-on-year increase of 116%. In addition, TRON has 100% destroyed TRX transaction fees, making it one of the few deflationary blockchains.

Robinhood has launched a prediction markets hub within its app via Robinhood Derivatives, the firm’s futures-focused subsidiary.The prediction markets will first focus on politics, economics and sports, with plans to broaden prediction categories in the future.