Category: crypto

Coinbase has invested in ProShares’ IQMM ETF to comply with the reserve requirements under the GENIUS Act. The fund mainly holds short-term U.S. Treasuries and cash equivalents. Coinbase believes stablecoin growth requires stronger reserve and liquidity management tools. The move aims to support stablecoin issuance and redemption systems.

Strategy sold 32 Bitcoin for $2.5 million to fund distributions on its STRC preferred stock. Michael Saylor promoted STRC as a top credit instrument. Strategy paused Bitcoin purchases to repurchase convertible debt. The sale revived questions about Strategy’s market timing. Saylor emphasized a flexible capital allocation approach.

SpaceX’s amended S-1/A filing allows for the issuance of a significant amount of equity for future acquisitions and transactions. The company is targeting a Nasdaq listing under the ticker SPCX, with a potential $75 billion raise. Elon Musk retains control with 85% of the voting power. The Cursor acquisition shows how shares may be used…

Strategy sold 32 Bitcoin for $2.5 million to fund preferred stock dividends, representing a small fraction of their holdings. The sale was planned in advance and does not indicate a lack of faith in Bitcoin by Michael Saylor. The drop in Bitcoin’s price was due to sentiment and leverage, not the sale itself.

Vitalik Buterin proposed an options-based DeFi design to reduce reliance on sudden liquidation systems in crypto index products. The model could use slower oracles to reduce manipulated price feeds and create a more stable investment environment. Buterin also mentioned the relevance of algorithmic stablecoins but acknowledged practical limitations.

Grayscale updated its Hyperliquid ETF filing with a 0.29% fee and HYPG ticker, expecting to launch this week. The SEC filing shows Grayscale’s lower fee compared to competitors. Hyperliquid ETFs are in high demand, with 21Shares’ THYP already attracting over $5 million. These ETFs offer 24/7 access to crypto markets.

Coinbase is advocating for the CLARITY Act in the U.S. Senate to establish clear rules for the crypto market. The bill needs 60 votes to advance, with support from both Republicans and some Democrats. The legislation aims to allow banks to enter the crypto sector and provide legal protections for developers.

CME Group saw $50 million in trading volume over the first weekend of its new 24/7 cryptocurrency futures and options service. More than 7,200 contracts were traded, allowing traders to manage positions in regulated crypto derivatives on weekends and holidays. This move responds to demand for continuous liquidity in regulated crypto products.

Telegram founder Pavel Durov announced that TON will be renamed Gram, restoring the token’s original name as stated in the network’s first white paper. This rebrand triggered an 18.75% increase in TON’s value to $2.19, with no token swap required. The move separates the currency from the network and aligns with Telegram’s blockchain plans.

Radiant Capital is shutting down operations after being unable to recover from a $50 million exploit, leading to a lack of funding. The protocol will enter a maintenance state, allowing users to withdraw funds. Recovery efforts were complicated by the involvement of North Korea-aligned threat actors and the use of Tornado Cash to move stolen…