Everything web3, crypto, defi, degen
In brief An indictment was unsealed against former Zero Edge CEO Richard Kim. He allegedly admitted to gambling away the crypto casino firm’s seed round funding. Federal prosecutors say he misappropriated $3.8 million. Federal prosecutors in New York are pursuing fraud charges against the former CEO of a crypto-powered casino, claiming the 39-year-old gambled away…
In brief Sharplink Gaming is raising an additional $400 million to fuel Ethereum purchases. The company has raised nearly $900 million for its corporate treasury over the past week. Ethereum treasury firms are on the rise and could soon hold 10% of all ETH in circulation, according to a Standard Chartered analyst. SharpLink Gaming is…
In brief BitMine’s Ethereum holdings are worth nearly $5 billion The firm owns roughly 1% of Ethereum’s circulating supply BitMine teased U.S.-made validator network in a shareholder presentation. BitMine Immersion Technologies’ Ethereum holdings were valued at nearly $5 billion on Monday, as the treasury firm said that it now owns 1% of the asset’s circulating…
In brief Coinbase is raising $2 billion in convertible notes for acquisitions and general corporate purposes amid analyst concerns over Q2’s 25% revenue drop. Two Seas Capital, Core Scientific’s largest shareholder with 6.3% stake, opposes the $9 billion all-stock sale to CoreWeave as “inadequate valuation.” Block Inc. added 108 Bitcoin to its corporate treasury in…
In brief Ripple has agreed to acquire Rail for $200 million. The Canadian stablecoin platform has key compliance features. The companies will promote RLUSD and XRP’s use in payments. Ripple has entered into a $200 million agreement to purchase Rail, a Toronto-based payments platform, the tech firm said in a press release on Thursday.The acquisition…
In brief Meta removed over 6.8 million WhatsApp accounts linked to “pig butchering” cryptocurrency scams operated by organized crime syndicates in Southeast Asia this year. The company is introducing new safety features, including alerts when users are added to groups by unknown contacts, to help identify suspicious activity. Despite enforcement efforts, critics argue Meta lacks…
In brief Verb Technology said that it is rebranding to TON Strategy The firm will accumulate Toncoin using proceeds from a private placement. The company’s stock price soared 140% on Monday. Verb Technology will use $558 million in proceeds from a private placement to begin stockpiling and staking Toncoin, the Las-Vegas based marketer said in…
In brief Bitcoin miner BitMine Immersion now holds $3 billion in Ethereum. The miner is now accumulating ETH and is the third largest public crypto treasury. BitMine Chairman and permabull Tom Lee believes Ethereum is a Wall Street favorite. Bitcoin miner BitMine Immersion now has over $3 billion in Ethereum as the company races to…
In brief Bitmine Immersion Technologies has approved a plan to execute an up to $1 billion buyback of its common stock. The repurchase plan is open-ended, with purchases happening periodically over the next few years. Bitmine is among several treasury firms pivoting that are focusing on accumulating Ethereum. BitMine Immersion Technologies has approved an up…
In brief SharpLink’s Ethereum holdings have more than doubled over the past three weeks Shares have tumbled as Ethereum’s rally has cooled over the past week. The company is aligning itself with Consensys’ Ethereum layer-2 network Linea. SharpLink Gaming has spent $780 million on Ethereum in July, establishing itself as one of the asset’s largest…
