Peloton’s Takeover Pack | Spirit’s New Frontier | Blockchain 50

Plus: How Crypto's Original Bubble Boy Rode Ethereum And Is Now Pulling The Strings Of The DeFi Boom

Good morning.

Everyone’s talking about Peloton—whether it’s rumors of a takeover or reports of a possible change of leadership—just as the pandemic darling is due to report quarterly results. We’re also reporting on a merger that would create America’s fifth largest airline, and unveiling the annual Blockchain 50 list, which examines the most innovative uses of the distributed ledger technology among the world’s largest companies. Finally, check out this profile of Olaf Carlson-Wee, a crypto investor with his eyes on decentralized finance (DeFi).

In The News Today

Chipmaker Nvidia has had to bow to regulatory pressure and abandon its plans to acquire British semiconductor firm ARM, whose owner SoftBank plans instead to take public.

Being infected with coronavirus while pregnant appears to carry a higher risk of experiencing serious complications or dying during pregnancy, according to a new study underscoring the need for people to get vaccinated.

Top Take-Aways

Rumors about a Amazon or Nike takeover proved a boon for Peloton’s battered stock yesterday—but more wobbles are expected today, as the at-home fitness equipment maker is due to post quarterly earnings, amid reports that cofounder and CEO John Foley is stepping down.

Electric carmaker Tesla owns the second-largest bitcoin stash among U.S. corporations. According to a public filing, the value of Tesla’s bitcoin holdings ballooned to nearly $2 billion by the end of December, confirming the firm sold no cryptocurrency in the latter half of last year.

As consumers pay higher prices for meat, top meatpackers like Tyson are able to spend less to make more money. Tyson’s strong fourth quarter results pushed its share price up more than 12%, lifting billionaire chairman John Tyson’s net worth to $3.3 billion.

Budget airline Frontier announced a $6.6 billion cash-and-stock deal for fellow low cost-airline Spirit, creating what Frontier chair Bill Franke dubbed “America’s most competitive ultra-low fare airline for the benefit of consumers”—and the fifth largest in the country.

It’s Oscars’ nominations day! The Academy will reveal the 2022 cohort of nominees for the film industry’s most famed statuettes starting 8.18 a.m. ET. Jane Campion’s The Power of the Dog and Steven Spielberg’s remake of West Side Story are among the favorites. Follow this story for updates.

In the three years since Forbes published its first annual Blockchain 50 list, firms who embraced blockchain have moved beyond test projects to do serious work, saving billions each year. Here are the 50 billion-dollar companies who are leading the way.

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It’s never easy to get a bobsled from Point A to Point B, but this year, the process was even harder. As Team USA’s sleds hurtle down a roughly mile-long ice track over the next two weeks in the mountains outside Beijing, whipping around 16 banked curves in a minute or less, it will be just the final stretch of a global journey that required similarly precise coordination.

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