Everything web3, crypto, defi, degen
For many years, the idea that publicly traded corporations might buy Bitcoin for their reserves was considered laughable. The top cryptocurrency was considered too volatile, too fringe to be embraced by any serious business.That taboo has been well and truly broken, with a number of major institutional investors buying up Bitcoin in recent years.The floodgates…
In brief Strategy compared its P/E ratio to S&P 500 firms last month. That “deceptively” implied that its revenue is recurring, Andy Constan said. Strategy faces class action lawsuits over allegedly false and misleading statements. Strategy, formerly MicroStrategy, misrepresented its business to investors when measuring itself against S&P 500 firms last month, according to Damped…
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.GM!Today’s top news: Crypto majors mixed ahead of CPI; ETH leads +2% to $4,280 ETH ETFs post first $1B day; Tom Lee acquires 1.2M ETH…
In brief Healthy beverage company Safety Shot Inc. is pivoting to become a crypto treasury firm, receiving $25 million in BONK on Monday. Pseudonymous core contributor Nom is set to join the Safety Shot team in a strategic position, and says it is targeting up to 5% of the meme coin’s total supply. At current…
In brief Strategy—formerly MicroStrategy—first bought Bitcoin five years ago today. The company now holds 628,946 BTC worth over $75.5 billion. Strategy’s latest buy was relatively small: Last week it only spent $18 million on Bitcoin. Bitcoin treasury company Strategy announced another crypto buy on Monday, bringing the behemoth’s total holdings to 628,946 BTC—or over $75.5…
In brief Bitcoin’s dominance fell to 57.8% of the crypto market. XRP and Dogecoin led gains among altcoins. Altcoin season could happen, but it probably won’t hit the same way, according to Hashdex’s Gerry O’Shea. XRP and Dogecoin led altcoins higher on Friday as Bitcoin’s dominance fell to a 12-day low.The Ripple-linked token was recently…
In brief Ethereum’s price hit $4,000 on major exchanges on Friday. The coin has made a comeback in recent months amid a surge in ETH treasuries. Ethereum’s blockchain has experienced a flurry of activity this week. Ethereum’s price touched $4,000 per coin on Friday for the first time since last December on a number of…
In brief Block purchased 108 BTC during Q2 with a cost basis of $11 million. Its total bitcoin investment is now valued at $1.15 billion, with $2.14 billion coming from Bitcoin sales through Cash App. The company recognized $212.2 million gain on bitcoin remeasurement during the quarter. Jack Dorsey’s Block Inc. continued its bitcoin accumulation…
In brief Ethereum treasuries have bought up billions in ETH. Standard Chartered analyst Geoffrey Kendrick thinks they may get investors better value for money than ETFs. The price of ETH has rallied as institutions pile into the asset. Buying shares in Ethereum treasuries is a better investment than buying ETH exchange-traded funds, an analyst wrote…
In brief SharpLink Gaming has bought even more Ethereum, adding $264.5 million in digital coins to its treasury. The Nasdaq-listed firm has pivoted its focus to accumulating ETH. Ethereum was trading above $3,630, down a few fractions of a percentage point over the past 24 hours. Ethereum treasury SharpLink Gaming bought $264.5 million in Ethereum…
