Crypto & Fintech
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…
Bitmine Raises $273.8M for ETH as Sezzle Jumps on Fragile Iran Deal
Sezzle jumped 10.1% on June 15 because a deal in Switzerland promised to reopen the Strait of Hormuz. By June 18, Iran had closed it again. Bitmine Raises $273.8 Million in Preferred Stock to Buy More Ethereum While Diluting Shareholders 213-Fold Bitmine Immersion Technologies (NYSE: BMNR) announced on June 15 that its total crypto, cash,…
Kevin Warsh’s First Fed Meeting Gave Crypto Nothing and the Market Noticed
There is a kind of financial product whose entire selling point is that it does not do anything interesting. A preferred stock priced at $100 par, paying a steady dividend, designed to sit there and throw off income while the people who bought it go about their lives. On June 18, one of these instruments…
Hut 8 Closes $4.25B AI Bond and Coinbase Launches Crypto Agents
Bitcoin mining companies used to fund themselves by selling the coins they dug up. Hut 8 just raised $4.25 billion in bonds. These are not the same business model. Hut 8 Closes $4.25 Billion Texas AI Data Center Bond and Appoints Stanley O’Neal as Chairman On June 10, Hut 8 Corp. (Nasdaq: HUT) closed a…
SpaceX IPO Absorbed $75 Billion and the S-1 Revealed 18,712 BTC in Corporate Treasury
Bitcoin opened Monday at $63,310, up 4% from Sunday after spending the prior week touching $59,227. The recovery was tentative. RSI sitting below 35. ETF flows still negative. The Fear and Greed Index had not moved. What had moved was everything around the asset: the regulatory picture, the institutional sentiment, and the capital allocation landscape.…
