NewsBriefs - SOL Strategies secures $500M for Solana-focused convertible notes facility

Apr 23, 3:15 PM SOL Strategies

SOL Strategies secures $500M for Solana-focused convertible notes facility

SOL Strategies has announced a groundbreaking $500 million convertible note issuance agreement with ATW Partners, focusing on the Solana ecosystem. This facility is dedicated to purchasing and staking SOL tokens through SOL Strategies' operations, with staking yield shared between the parties. This marks a significant development in digital asset financing tied directly to staking yield and highlights SOL Strategies' commitment to expanding its role as a key player in Solana's infrastructure and validator space.

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• Apr 23, 5:50 PM Protos

  Zora airdrop launch crashes BaseScan, triggers huge token value drop

  Zora launched its ZORA token and airdrop without prior announcement, leading to a crash in the block explorer BaseScan. The airdrop started hours before an official tweet was made, which was then deleted. BaseScan and Blockscout experienced outages, while ZORA's market cap dropped 64% from $461 million to $167 million, spurring user dissatisfaction and insider trading accusations. Zora allocated significant portions of the airdrop to its team and strategic contributors, with no voting rights assigned to token holders.

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• Apr 23, 3:15 PM SOL Strategies

  SOL Strategies secures $500M for Solana-focused convertible notes facility

  SOL Strategies has announced a groundbreaking $500 million convertible note issuance agreement with ATW Partners, focusing on the Solana ecosystem. This facility is dedicated to purchasing and staking SOL tokens through SOL Strategies' operations, with staking yield shared between the parties. This marks a significant development in digital asset financing tied directly to staking yield and highlights SOL Strategies' commitment to expanding its role as a key player in Solana's infrastructure and validator space.

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• Apr 23, 12:37 PM The Block

  Gate.io promises full compensation for users affected by system upgrade

  Gate.io has committed to providing 100% compensation for losses incurred by users during an emergency upgrade of its futures services due to high traffic. The upgrades, necessary to expand contract services, caused a temporary suspension of futures and related copy trading products, but did not affect spot trading, deposits, and withdrawals. The system has since been restored, and the compensation excludes losses due to market movements. Details on the specifics of the compensation plan have yet to be clarified.

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• Apr 23, 10:57 AM The Block

  SEC charges PGI Global founder with $198 million crypto fraud involving Lamborghini purchases

  The US Securities and Exchange Commission has charged Ramil Palafox, founder of PGI Global, with leading a fraudulent scheme that raised approximately $198 million from investors globally. The scheme involved misappropriating over $57 million for purchasing Lamborghinis and other luxury items, and operating Ponzi-like payouts. Palafox is accused of violating anti-fraud and securities registration laws. The SEC seeks permanent injunctions, disgorgement, and penalties.

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• Apr 23, 7:16 AM The Block

  US spot bitcoin ETFs record $936 million in single-day inflows amid market uncertainty

  US spot bitcoin exchange-traded funds registered a record single-day inflow of $936 million, reflecting a strong belief in bitcoin as a defensive asset amid geopolitical and economic instability. Leading this surge were Ark & 21Shares, Fidelity, and BlackRock. Over a three-day period, US bitcoin funds received cumulative inflows exceeding $1.4 billion. This influx aligns with bitcoin's role as a strategic asset, responding to macroeconomic dislocations, supply dynamics, and its rising status in investment portfolios. Bitcoin's allure is enhanced by ongoing US inflation concerns, a weakening dollar, and potential Federal Reserve actions, contributing to substantial holdings in bitcoin ETFs and consistent price support.

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• Apr 22, 4:42 PM Kosmo!

  Binance co-founder CZ and Malaysia's Prime Minister discuss blockchain industry potential

  Malaysia's Prime Minister Anwar Ibrahim met with Binance founder CZ to explore Malaysia's potential as a key player in the blockchain and digital assets industry. The discussions included potential collaborations with agencies like the Securities Commission, Bank Negara Malaysia, and the Digital Ministry to promote responsible innovation in tokenization and other blockchain use cases. Anwar emphasized the importance of government leadership in driving blockchain adoption for Malaysia's digital transformation.

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• Apr 22, 4:30 PM PR Newswire

  Monad joins Chainlink Scale to enhance its blockchain ecosystem

  Monad, a layer 1 blockchain optimized for EVM with features like MonadBFT and Parallel Execution, has joined the Chainlink Scale program to expand its ecosystem through integration of Chainlink's oracle services. This partnership will provide Monad with highly secure and decentralized data feeds, which are crucial for accelerating ecosystem growth and promoting long-term adoption. Additionally, Monad will implement Chainlink CCIP and Data Streams on its Testnet, further deepening their strategic relationship and expanding capabilities for DeFi and other applications on Monad.

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• Apr 22, 4:18 PM The Block

  Janover intensifies Solana acquisition after rebranding, plans future crypto expansion

  DeFi Development Corporation, previously known as Janover and recently acquired by former Kraken executives, announced the purchase of an additional 88,164 Solana tokens worth approximately $11.5 million, expanding its total holdings to about $34.4 million. This investment is part of a broad strategy to leverage the Solana blockchain, including staking and long-term accumulation of diverse crypto assets. The company, now referred to as JNVR, plans to further integrate crypto into its commercial real estate financial services.

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• Apr 22, 10:51 AM The Block

  Galaxy Digital trades $106 million in ETH for SOL amid Ethereum's market challenges

  Galaxy Digital has exchanged approximately $106 million in Ethereum (ETH) for Solana (SOL) tokens, signaling a potential lack of confidence in Ethereum as its price and market dominance falter. Blockchain analytics by Lookonchain indicated this shift occurred over two weeks via transactions on the Binance exchange. Ethereum's market dominance recently hit a historical low of less than 7%, with the network facing scalability issues and declining decentralized exchange volumes. Galaxy's actions align with broader institutional trends showing reduced Ethereum holdings.

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• Apr 21, 3:54 PM Cointelegraph

  Consensys, Solana, and Uniswap CEO donate to Trump's $239M inauguration fund

  New Federal Election Commission filings disclose significant contributions from crypto firms and executives to President Donald Trump's 2024 inauguration fund. Uniswap CEO Hayden Adams donated over $245,000, Solana Labs contributed $1 million, and Consensys gave $100,000. Since Trump's inauguration and the appointment of Mark Uyeda as acting SEC chair, the agency has ceased multiple enforcement actions against crypto firms that donated to Trump's campaign and inauguration fund.

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• Apr 21, 1:37 PM The Block

  GSR leads $100 million investment to establish Upexi's Solana treasury

  GSR led a $100 million PIPE investment into Upexi to develop a Solana treasury, aiming to bolster the company's crypto holdings and stake in Solana. This move illustrates the increasing market demand for secure, efficient access to prominent crypto assets like Solana, which is praised for its speed, scalability, and strong developer community. Upexi joins other firms, including Janover, in building a Solana treasury to support long-term growth through high-quality crypto assets.

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• Apr 21, 10:50 AM The Business Times

  Singapore Exchange to launch Bitcoin perpetual futures targeting professional investors

  Singapore Exchange (SGX) plans to launch Bitcoin perpetual futures in the second half of 2025, aiming to attract institutional and professional investors. This initiative, reflecting a broader trend of traditional exchanges entering the crypto derivatives market, is expected to keep SGX competitive as crypto gains recognition as an investment asset. Perpetual futures, unlike traditional futures, do not expire and allow trading based on cryptocurrency price movements. Positive feedback from both decentralized and traditional finance sectors has been noted. Industry leaders view this move as enhancing Bitcoin's image as an investment-grade asset and validating cryptocurrencies within regulated markets.

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• Apr 21, 10:33 AM The Wall Street Journal

  Coinbase, Circle, and BitGo consider applying for bank charters: WSJ

  Following President Trump's pledge to make the US a bitcoin superpower, crypto firms including Circle, BitGo, Coinbase, and Paxos are planning to secure bank charters or licenses to operate more like traditional banks. This comes as Congress advances bills for stablecoin regulation and the Trump administration aims to incorporate crypto into mainstream finance. Meanwhile, major banks are reconsidering their previous stance of distancing from crypto, amid changing regulatory environments.

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• Apr 21, 4:59 AM The Block

  Metaplanet purchases additional 330 BTC amid market uncertainty

  Japanese investment firm Metaplanet has acquired an additional 330 bitcoins, valued at $28.2 million, despite ongoing market uncertainties due to US tariff measures. This purchase aligns with a rallying bitcoin price, recently exceeding $87,000. Metaplanet now holds 4,855 BTC, maintaining its position as the largest corporate bitcoin holder in Asia and tenth globally. The company continues its strategy to reach a 10,000 BTC portfolio by year-end, adhering closely to the investment footsteps of strategy influencer Michael Saylor's Strategy.

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• Apr 18, 7:16 PM Kraken

  Kraken launches forex perpetual futures

  Kraken Derivatives has introduced FX perpetual futures (FX perps), offering contracts for major currency pairs like EUR/USD and GBP/USD with 20x leverage. These contracts, available on the Kraken Pro platform, provide opportunities for clients to trade without an expiry date, reflecting the underlying forex market conditions in real time. Alexia Theodorou, Head of Derivatives at Kraken, noted that this expansion leverages their established presence in the FX market to enhance trading capabilities for their clients.

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