Everything web3, crypto, defi, degen
In brief A growing number of Bitcoin treasury firms are trading at discount to their holdings. Some are likely to fade away or become acquired, per TD Cowen. The investment bank thinks others will still outperform Bitcoin. Some Bitcoin treasury firms are losing their luster as share prices sag below a key threshold, TD Cowen…
In brief Publicly traded firms are starting to stack up Solana in addition to Bitcoin and Ethereum. The top firms have already amassed more than $2.5 billion in SOL. The leader, Forward Industries, maintains a balance of nearly 7 million SOL on its own. Michael Saylor popularized the digital asset treasury when his firm Strategy…
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 flat while stocks and gold hit new ATHs; BTC at $115,300 Coinbase teases a network token in exploration Polymarket’s latest…
In brief Standard Chartered’s Geoff Kendrick believes Ethereum treasury companies are most likely to succeed long-term due to their ability to generate staking yields. Bitmine announced its treasury has grown to 2.15 million ETH worth over $9.7 billion, more than double competitor SharpLink’s 837,230 ETH holdings. Digital asset treasury companies hold significant crypto portions (4%…
In brief Strategy recently purchased around $60 million worth of Bitcoin. The acquisition was funded entirely with proceeds from preferred shares. Strategy had $8 million in leftover cash from its most recent raise. Strategy, formerly MicroStrategy, unveiled its smallest Bitcoin purchase in a month on Monday, scooping up 525 Bitcoin worth $60 million, according to…
In brief Bitcoin miner BitMine Immersion holds $10.7 billion on its balance sheet. The Nasdaq-listed firm said nearly $10 billion of that is in Ethereum. BitMine also holds Bitcoin and cash, the company said. Bitcoin miner BitMine Immersion has over $10.7 billion mostly in Ethereum on its balance sheet, the company announced on Monday. The Nasdaq-listed…
In brief Forward Industries acquired nearly 7 million SOL tokens for $1.58 billion, making it the largest publicly traded Solana treasury. The firm bought unlocked SOL tokens via on-chain and open-market transactions. Shares of FORD rose 1.21% amid the news, now up more than 28% in the last week. Medical design firm Forward Industries completed…
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 flip red overnight after green weekend; BTC back at $115,000 Total3 hits new ATH at $1.12T over the weekend Galaxy…
In brief SOL Strategies is a Solana infrastructure firm that manages validators and runs a SOL treasury. The firm’s CEO Leah Wald sees it as an “underdog” when compared to others, but calls that an “advantage.” Shares in the firm went live for trading on the Nasdaq last week. Solana infrastructure and treasury firm SOL…
In brief Allied Gaming & Entertainment has started investing into Bitcoin and Ethereum for its treasury. The publicly traded firm’s stock price briefly doubled on Friday following the announcement. Many companies have started amassing crypto, following the model pioneered by Bitcoin giant Strategy. Allied Gaming & Entertainment, a Nasdaq-listed esports and gaming company, announced that…
