Everything web3, crypto, defi, degen
In brief Tron Inc. plans to raise up to $1 billion to fund ongoing TRX accumulation. The company disclosed its toy business no longer generates positive cash flow. Its strategy is an attempt at “aggressive liquidity engineering,” an analyst told Decrypt. Tron Inc., a Nasdaq-listed company formerly focused on theme park merchandise, has registered up…
In brief ASIC has accused Bitget of offering unlicensed crypto futures to Australians, lacking an AFS licence and bypassing investor protections. Bitget’s products offer up to 125x leverage, far above ASIC’s 2:1 limit, exposing users to major financial risks, ASIC said. Global regulators have issued similar warnings since 2022, with actions taken in Spain, Japan,…
In brief Jeff Garzik, an early Bitcoin developer, said he has a “super long-term view” of Ethereum and is bullish on it. Ethereum will continue to exist as a major project in the Web3 world, largely due to the usefulness and ubiquity of the Ethereum Virtual Machine, he said. ETH’s price soared past $3,800 this…
In brief Spot Ethereum ETFs generated over $1.8 billion in investments this week. The nine funds outpaced their Bitcoin counterparts, which added just $70 million. Interest in Ethereum has risen with the passage of a stablecoin bill and rise of Ethereum treasury companies. For a week, at least, spot Ethereum exchange-traded funds outpaced their Bitcoin…
In brief After pulling in $2.5 billion over the first 10 months since launch, Ethereum ETFs have attracted $5 billion since mid-May alone, signaling accelerating institutional demand. Analysts note that price momentum is lagging behind institutional inflows. While the long-term outlook remains bullish due to institutional adoption, one analyst is positioning for a potential short-term…
In brief BNY Mellon and Goldman Sachs are working together on a tokenized money market fund (MMF) product. The product will allow fund managers to subscribe to MMF shares that earn a tokenized representative. The goal is to unlock utility and transferability of MMF shares. Publicly traded financial giants BNY Mellon Corporation and Goldman Sachs…
In brief Denver pastor Eli Regalado and his wife Kaitlyn face 40 felony charges for allegedly defrauding Christian investors of $3.4 million through the INDXcoin crypto between January 2022 and July 2023. The couple are accused of pocketing at least $1.3 million for personal expenses, including luxury vacations, cosmetic dentistry, and home renovations they claimed…
In brief BitMine Immersion shares have soared about 800% over the past month. The firm, which previously focused on Bitcoin mining, added $500 million of Ethereum last week. Investment management giant ARK Invest purchased more than 4.7 million shares of the BMNR on Monday. BitMine Immersion shares were up slightly in Tuesday trading, a day…
In brief JPMorgan is reportedly exploring crypto-backed loans secured by Bitcoin and Ethereum. The move follows growing institutional interest and regulatory clarity, including the recent passage of the GENIUS Act. Experts say Basel III rules remain a hurdle, but JPMorgan’s plans may signal progress toward treating crypto as acceptable collateral in TradFi. JPMorgan Chase is…
In brief Barstool Sports founder Dave Portnoy said he sold his XRP holdings before the recent price surge. The outspoken trader blamed an unnamed analyst who suggested XRP faced some kind of threat from the rise of Circle. XRP hit a new all-time high price last week, breaking a seven-year-old record. It remains close to…
