Boeing, Boeing, gone… Boeing’s very bad year keeps getting worse — and it’s causing headaches for airlines. After January’s doorbacle (recall: a plug door yeeted off a 737 Max mid-flight), the FAA paused certification for Boeing’s newest 737, the Max 10. Delta expects deliveries could be delayed till 2027. Last week, Southwest (which only uses 737s) slashed its flight schedules. And United asked Boeing to stop building the Max 10s it ordered. Rival Airbus is widening its jet-delivering lead as Boeing faces intense FAA scrutiny and a DOJ criminal investigation.
Tippin’ the Gray-scales… It’s rare to see a multibillion-dollar bet go so wrong so quickly. At the start of the year, Digital Currency Group’s Grayscale Bitcoin Trust had $28B+ under management and promised to convert to a spot bitcoin ETF as soon as it got the SEC’s OK. But with comparatively high fees (1.5% versus competitors’ 0.3%), customers have pulled out $11B since regulators’ January approval. In that same period, BlackRock’s bitcoin fund saw $10B+ in inflows. Now, Grayscale is launching a “mini” ETF with lower fees.