Everything web3, crypto, defi, degen
In brief The FTX Recovery Trust has announced its third distribution to former clients of the bankrupt exchange. A total of $1.6 billion will be repaid to creditors this time. The FTX brand went bankrupt in 2022 after it was criminally mismanaged. Creditors of collapsed crypto exchange FTX will receive $1.6 billion at the end…
In brief Rex-Osprey launched XRP and DOGE ETFs, and the SEC debuted streamlined listing standards for commodity-based trust shares. Forward Industries became Solana’s first $1 billion treasury company, with Helius planning a $500 million SOL treasury raise KindlyMD shares dropped 54% after filing S-3 registration, releasing $200 million in discounted shares that created sell pressure…
In brief Kalshi reached $1 billion in monthly volume and now dominates 62% of the global prediction market industry, surpassing Polymarket’s 37% share. Four states including Massachusetts have filed lawsuits claiming Kalshi operates as an unlicensed sportsbook, with Massachusetts seeking to permanently bar the platform. Kalshi operates under federal CFTC regulation as a designated contract…
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 mostly rally post-FOMC; BTC at $117,300 SOL jumps 5% as Forward Industries announces $4B ATM BNB crosses $1,000 for first…
In brief Digital asset custodian BDACS has launched KRW1, South Korea’s first fully regulated won-backed stablecoin, through a partnership with Woori Bank. Each token maintains full collateralization with Korean won held in Woori Bank escrow, according to BDACS. The launch comes amid competing parliamentary bills that debate interest payments and capital requirements for stablecoin issuers.…
In brief Tokyo-listed Metaplanet is expanding to the U.S. Its Miami-based subsidiary will initially have $15 million in capital. The firm meanwhile closed on its $1.45 billion public offering. Metaplanet, a Tokyo-listed hotel group that owns $2.3 billion worth of Bitcoin, said on Wednesday that its business is expanding to the U.S.The firm, which owns…
In brief Forward Industries, the largest publicly traded Solana treasury company, filed to raise $4 billion through an at-the-market equity offering to expand its SOL holdings. The company’s stock (FORD) fell 8.2% following the announcement, while the proceeds could more than double the $3.1 billion currently held in Solana treasuries. DeFi Development Corp. also registered…
In brief Quantexa designed an AML solution for mid-size and community banks. It can help them identify crypto-powered crime, according to Quantexa’s Christopher Bagnall. Stablecoin legislation is expected to unlock new competitors. Quantexa, a data and analytics software firm, introduced a product on Wednesday that’s intended to help smaller financial institutions fight crypto-powered crime in…
In brief The Chiliz Group has acquired a controlling stake in OG Esports, a prominent competitive gaming organization. OG Esports unveiled its own fan token on Chiliz’s Socios.com platform back in 2020. It recently hit an all-time high price. Chiliz has teased various future team-related benefits for OG token holders, along with a new Web3-related…
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…
