Everything web3, crypto, defi, degen
In brief Bitcoin mining infrastructure firm Bit Origin acquired around $10 million in Dogecoin (DOGE). The firm announced a raise of up to $500 million last week to fund its meme coin treasury. Bit Origin shares are up 386% from their July starting point. Publicly traded Bitcoin mining infrastructure firm Bit Origin purchased around $10…
In brief Polymarket acquired derivatives exchange QCX for $112 million, the prediction market startup announced Monday. The company is trying to re-enter the U.S., founder and CEO Shayne Coplan said. In June, X tapped Polymarket as its official prediction platform. Polymarket acquired the derivatives exchange QCX alongside efforts to return to the U.S., the crypto-powered…
In brief The Ether Machine is debuting on the Nasdaq with a $1.5 billion stash of Ethereum. The company plans to leverage staking and decentralized finance. At 400,000 Ethereum, the company’s holdings would be the largest among entities that have joined a so-called Strategic Ethereum Reserve. Another firm dedicated to generating Ethereum is making its…
In brief Trump Media announced on Monday that it had purchased $2 billion in Bitcoin. The publicly traded firm unveiled its Bitcoin acquisition strategy in May. Shares of Trump Media are up roughly 6% following the announcement. Trump Media & Technology Group has purchased $2 billion in Bitcoin and BTC-related securities for its corporate treasury,…
In brief Crypto custody firm BitGo confidentially filed for an initial public offering (IPO). The firm was last valued at $1.75 billion following a $100 million fundraise in 2023. If approved, it will join a growing list of crypto firms that have gone public in 2025 like Circle and eToro. Crypto custody provider BitGo confidentially…
In brief Thailand’s SEC proposes easing knowledge test rules for retail crypto investors, allowing them to skip repeat tests if already passed, replacing the current 3-month retesting requirement. New rules would mandate suitability tests for all digital token investors, reviewed every two years, to ensure alignment between investor risk tolerance and product risk. The proposed…
In brief Streaming giant Netflix has revealed that it used generative AI for a VFX sequence in its show “The Eternaut.” Netflix co-CEO Ted Sarandos called generative AI “an incredible opportunity to make films and series better, not just cheaper.” There is widespread concern among film industry professionals over the threat posed by AI to…
In brief Bitcoin enthusiasts have often likened the cryptocurrency to “digital gold,” a decentralized alternative to precious metals. Recent academic research has indicated that Bitcoin and gold may serve fundamentally different investor types. At present, research indicates that Bitcoin lacks the historical track record, stability, and crisis-tested resilience of gold—though that could change with time.…
In brief Tether CEO Paolo Ardoino said his company fully intends to register its flagship USDT stablecoin via the newly-signed GENIUS Act. The company will also likely offer another, U.S.-specific stablecoin in the American market. Circle CEO Jeremy Allaire said he believes his company is nonetheless poised to particularly benefit from the passage of the…
In brief MicroStrategy’s $70 billion Bitcoin holdings are spread across 9 potential custodians including Coinbase, BitGo, and Fidelity, but the exact distribution remains confidential under SEC Rule 83. Coinbase and MicroStrategy set stock records this week as crypto markets surge, though MicroStrategy has since pulled back while Coinbase keeps rising. Multiple companies launched or grew…
