Everything web3, crypto, defi, degen
In brief Sharplink (SBET) shares fell 11% after announcing plans to stake ETH on Linea, now trading at $15.73. 82.5% of prediction market users on Myriad doubt the company will reach its 1 million ETH target by September 16. Analysts say aggressive share issuances to fund ETH purchases are diluting existing investors and making the…
In brief BitMine Immersion Technologies bolstered its Ethereum treasury and now holds more than 2 million ETH. The firm’s Ethereum holdings have hit $9 billion, extending its lead over other ETH treasury firms. BMNR invested $20 million in a publicly traded firm undertaking a Worldcoin strategy, sending OCTO shares up 3,000%. Bitcoin miner turned Ethereum…
In brief Bitcoin’s pseudonymous creator, Satoshi Nakamoto, disappeared in 2011. SharpLink Gaming co-CEO Joseph Chalom thinks Nakamoto will return as Bitcoin faces a quantum computing threat. Nakamoto is linked to nearly 1.1 million Bitcoin, valued at over $120 billion. Bitcoin’s elusive, pseudonymous creator Satoshi Nakamoto has remained in the shadows since his last message in…
In brief The LINEA token will begin its airdrop process on September 10. More than 9 billion tokens will be available to early users when the claim opens. An additional 75% of the total supply will ultimately be distributed to ecosystem participants. Ethereum layer-2 network Linea aims to use its upcoming LINEA token as an…
In brief SharpLink Gaming plans to stake part of its $3.6 billion ETH holdings on Linea network for higher yields, moving beyond traditional custodians Anchorage and Coinbase. SEC and CFTC leaders announced they’re considering 24/7 trading markets to align with crypto’s always-on nature, marking another potential Trump administration change to financial markets. Bitcoin miners hit…
In brief SharpLink Gaming will explore staking part of its Ethereum holdings to the Linea network once it hits mainnet, as the firm looks to expand its yield-bearing opportunities. Joseph Chalom, co-CEO of SharpLink, told Decrypt that the treasury company is currently staking almost the entirety of its holdings through its custodians, but this is…
In brief Digital asset treasury companies face shrinking market-to-net asset value (mNAV) ratios. BitMine and SharpLink Gaming have seen their mNAV fall below 1.0, to 0.99 and 0.89 respectively. The mNAV erosion threatens DATs’ ability to raise capital through at-the-market equity programs, forcing painful share dilution and stalling capital raises, analysts said. As Ethereum claws…
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 chop with ETH leading; BTC at $111,000 CFTC clears Polymarket for US operations; departing chair issues warning Federal Reserve to…
In brief The queue to become an Ethereum (ETH) validator, which allows you to stake the cryptocurrency, has reached the highest level since September 2023. Analysts think this may be partly due to the surge of investment in ETH treasury firms, which often engage in staking. Lower network fees on the blockchain were also highlighted…
In brief BitMine Immersion Technologies recently purchased 153,000 Ethereum. It now owns roughly 1.5% of the asset’s supply, with its stash valued above $8 billion. Ethereum is having a “1971 moment,” Tom Lee said. BitMine Immersion Technologies recently purchased 153,000 Ethereum, taking a $655 million step toward its goal of owning 5% of the asset’s…
