Everything web3, crypto, defi, degen
In brief The crypto market retreated sharply Monday morning, with the total market cap dropping to $3.98 trillion. More than 390,000 traders were liquidated, with longs making up the bulk of the $1.68 billion in losses. Dogecoin dropped by 10%, leading losses among the top 10, while Bitcoin held relatively firm in comparison to altcoins…
In brief Metaplanet acquired 5,419 BTC for $632.53 million, at an average price of $116,724 per coin. Total holdings now stand at 25,555 BTC, valued at approximately $2.91 billion. The purchase pushes the company to 5th place globally among corporate Bitcoin holders. Metaplanet has vaulted into the top five publicly listed Bitcoin holders worldwide, announcing…
In brief Tidal Financial Group applied for a leveraged AltAlt Season Crypto ETF, along with two other filings on Thursday. The proposed fund confounded even some of the fund industry’s sharpest observers unsure what an “alt alt season” was. The fund will relate initially to the performance of XRP and Solana, and exclude Bitcoin and…
In brief Publicly traded firm Caliber has acquired $6.7 million worth of LINK as it builds out its Chainlink treasury. The firm intends to do more than accumulate LINK though, it will also integrate the Chainlink network into its daily business. Its next step is hiring the right fit with a history in real estate…
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 Rex-Osprey’s DOJE ETF delivered substantial trading volume upon its debut Thursday. The issuer is now seeking approval for a leveraged ETF product that grants 1-1.5x leveraged exposure to DOJE. Beyond the leveraged long exposure, its objective is to send weekly distributions to holders. Rex-Osprey’s DOJE, the first U.S. spot Dogecoin ETF, produced strong…
In brief Sports holding company Brera Holdings is becoming a Solana treasury, the Nasdaq-listed firm announced Thursday. The company’s stock rocketed 500% on the news after receiving big backing to buy the cryptocurrency. It is the latest in a crowded market of altcoin treasuries—but it promises it will be different. The race to build the…
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 Prosecutors said Palafox raised $201M by promising daily returns of up to 3%. At least $62.7M in losses were recorded, with funds spent on luxury goods and property. The real issue is fraudulent behavior, not the underlying technology, one observer said. The chief executive of Praetorian Group International, Ramil Ventura Palafox, pleaded guilty…
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…
