Everything web3, crypto, defi, degen
In brief A growing number of Bitcoin treasury firms are trading at discount to their holdings. Some are likely to fade away or become acquired, per TD Cowen. The investment bank thinks others will still outperform Bitcoin. Some Bitcoin treasury firms are losing their luster as share prices sag below a key threshold, TD Cowen…
In brief Publicly traded firms are starting to stack up Solana in addition to Bitcoin and Ethereum. The top firms have already amassed more than $2.5 billion in SOL. The leader, Forward Industries, maintains a balance of nearly 7 million SOL on its own. Michael Saylor popularized the digital asset treasury when his firm Strategy…
In brief LimeWire has bought the notorious Fyre Festival for $230,000 and the team is planning on putting a crypto spin on the brand. Julian Zehetmayr, CEO of LimeWire, told Decrypt there are plans to somehow use the LimeWire token and possibly NFTs for old ticket holders. He warned there are no exact plans. The…
In brief The U.S. Senate confirmed Stephen Miran to the Federal Reserve’s Board of Governors in a 48-47 vote on Monday. Miran has a history of supporting deregulation and favorable views on crypto. The Democrats have warned of a conflict of interest with his White House role. The U.S. Senate voted 48-47 on Monday to…
In brief The pair have asked Judge Edgardo Ramos to stay litigation until later this year while settlement paperwork is finalized. The case centers on whether Gemini Earn, a yield-bearing service tied to Genesis, constituted an unregistered securities offering. A final resolution could set precedent for how regulators treat crypto lending and yield products in…
In brief Publicly traded Helius Medical Technologies announced that it’s raising $500 million to establish a Solana treasury. The firm’s stock price rose by more than 141% as of the close of trading Monday. Helius Medical Technologies is not affiliated with notable Solana infrastructure startup, Helius. Medical devices manufacturer Helius Medical Technologies has raised $500…
In brief Kindly MD shares crashed over 54% to $1.26 after the SEC approved trading of previously restricted shares from a $200 million fundraising deal. CEO David Bailey encouraged short-term investors to exit, warning of volatility as the healthcare company transitions into a Bitcoin treasury operation. The company’s market cap of $504 million now trades…
In brief PayPal launched PayPal Links, a peer-to-peer payment tool for messaging apps that will soon support transfers of Bitcoin, Ethereum, PayPal’s PYUSD stablecoin, and other tokens. The program will first roll out in the U.S. before expanding to the U.K., Italy, and other markets later this month. Crypto transfers between friends and family on…
In brief The Bank of England proposal would cap stablecoin holdings at £10,000-£20,000 for individuals and £10 million for businesses. A Coinbase executive said the caps would be “bad for UK savers, bad for the City and bad for sterling.” Banking officials in the U.S. have also raised concerns about the market impact of stablecoins.…
In brief Strategy recently purchased around $60 million worth of Bitcoin. The acquisition was funded entirely with proceeds from preferred shares. Strategy had $8 million in leftover cash from its most recent raise. Strategy, formerly MicroStrategy, unveiled its smallest Bitcoin purchase in a month on Monday, scooping up 525 Bitcoin worth $60 million, according to…
