Crypto & Fintech
Thune Files Cloture on Clarity Act, Sets September 15 Senate Vote
Senate Majority Leader John Thune filed cloture on the Clarity Act at 4:52 AM ET on Saturday, the tail end of an overnight session that ran past the chamber’s scheduled Friday departure for August recess. It is the first time in the bill’s history that it has an actual date on the Senate’s formal calendar.…
Neptune Digital Assets Sells Free Ionic Digital Shares for $234,000
A Vancouver crypto holding company just turned a free stock windfall into over two hundred thousand dollars without spending a cent to acquire it. In Toronto, a fintech company that posted its first-ever profitable quarter this spring just raised its own revenue forecast by up to $30 million, based on a single month of sales.…
Strategy’s $8.22B Loss and Coinbase’s Record Market Share
Strategy and Coinbase reported second-quarter earnings within hours of each other on July 30. Strategy’s loss ran into the billions, almost entirely a paper markdown on bitcoin it has no plans to sell. Coinbase’s loss was smaller and came with a record trading-volume market share attached. Both stocks fell anyway. Strategy Posts an $8.22 Billion…
FinWise Bancorp Q2 Profit Falls 22% After Tallied Technologies Buy
A bitcoin miner born out of one of crypto’s ugliest bankruptcies just staged the biggest direct listing Nasdaq has seen in five years. Two days later, a small Utah bank holding company reported its profit fell by more than a fifth, undercut in part by the very acquisition it made ten days earlier to bring…
Strategy Scraps mNAV as Clarity Act Misses Its Senate Deadline
Three separate clocks are running out this week. Senate Majority Leader John Thune now says the Clarity Act won’t make it through the Senate before the August 7 recess. Strategy tore up the formula it has used for years to explain its bitcoin holdings to shareholders. Coinbase confirmed it will report earnings the same day…
Twenty One Capital CEO Jack Mallers Resigns as PowerCompute Rebrands From LM Funding and BIGG Digital Assets Launches Crypto Lending
A microcap Bitcoin miner worth less than two million dollars just erased its own name from the stock market and started over under a new ticker. The CEO of a multibillion-dollar Bitcoin treasury company walked out the same morning a headline three-way merger collapsed. The stock hit a record low by lunch. In Vancouver, a…
Trump Meeting Fails to Break Clarity Act Deadlock, Strategy Sets BTC Terms
President Trump sat down with senators Thursday to break the Clarity Act’s ethics deadlock. Strategy’s chief executive went on Bloomberg TV and tied the company’s next bitcoin purchase to a preferred stock hitting a price it has not reached since April. Both are still unresolved as this goes to print. Trump-Senate Meeting Ends Without a…
Robinhood Built a Blockchain and Securitize Rang the NYSE Bell
June was the worst month on record for Bitcoin ETF outflows. The same week, Robinhood launched its own Layer 2 blockchain and Securitize Corp. debuted on the New York Stock Exchange as the first pure-play tokenization company to list on a major US exchange. Traditional finance is not retreating from crypto. It is repositioning from…
HIVE Digital Signs Sovereign AI Deal as Sphere 3D Puts 30 MW Under Contract
The year’s largest Bitcoin options expiry cleared the market on June 26 with BTC near $59,000, down from $65,000 to open the week. $10.6 billion in open interest, roughly 80 percent of it out of the money. That is where spot was. The companies building the compute infrastructure behind it were somewhere else entirely. HIVE…
Strategy’s Bitcoin Premium Vanishes While Strive Keeps Buying
Strategy’s market value fell below the value of its own Bitcoin this week, for the first time ever. Strive’s did not, and Strive went out and bought more Bitcoin anyway, outpacing Strategy’s own purchase in the same seven days. Same business model. Same falling asset. Opposite week. Strategy’s Enterprise mNAV Fell Below 1 for the…
