NewsBriefs - Alpaca Finance announces wind-down, citing competitive DeFi market and low revenues

May 26, 5:36 PM Alpaca Finance

Alpaca Finance announces wind-down, citing competitive DeFi market and low revenues

Alpaca Finance has decided to wind down operations and sunset its products, including leveraged yield farming and Automated Vaults, due to the evolving competitive DeFi landscape and reduced revenues. The company has planned a detailed sunset process to securely manage user assets, urging users to close their positions by specified deadlines. This decision follows a downturn in the crypto market, declining Total Value Locked (TVL), and recent delisting from Binance, impacting the protocol's operational capacity.

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• May 27, 10:38 PM Grayscale Research

  Grayscale introduces new Artificial Intelligence Crypto Sector

  Grayscale has launched the Artificial Intelligence Crypto Sector, a new segment in its Crypto Sectors framework that organizes crypto assets. This sector now includes 20 tokens related primarily to AI development and applications, with a combined market capitalization of $21 billion, a significant increase from $4.5 billion in early 2023. The sector, which includes the previously most significant project by market cap, Bittensor, is designed to track price returns and monitor decentralized AI development within the crypto industry.

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• May 27, 2:45 PM The Block

  Cantor completes inaugural Bitcoin financing with Maple Finance and FalconX

  Cantor Fitzgerald has launched its Bitcoin Financing Business, closing its first financing deals with Maple Finance and FalconX. The Wall Street firm aims to provide up to $2 billion in financing to institutional clients. This initiative underscores Cantor's commitment to integrating digital assets services, enhancing institutional-grade credit infrastructure in the crypto market. Cantor also relies on Anchorage Digital and Copper for custodial services.

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• May 27, 2:34 PM Cointelegraph

  SharpLink Gaming launches Ethereum treasury strategy

  SharpLink Gaming has established an Ethereum-based corporate treasury and appointed Ethereum co-founder Joseph Lubin as its board chairman. The company secured a $425 million investment through a private equity deal involving investors like Consensys. SharpLink's stock surged by approximately 400%, reflecting investor optimism about its new crypto treasury strategy, which centers Ether as its primary asset.

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• May 27, 10:00 AM The Block

  Bitget introduces BGUSD, a yield-generating crypto token backed by real-world assets

  Bitget has launched a new crypto token called BGUSD, which offers a minimum annualized yield of 4% by investing in tokenized real-world assets such as top-tier money market funds and US Treasury products. The token provides a secure, high-yield alternative for crypto investors, aiming to combine the benefits of transparency and innovation from the crypto world with the stability and yield opportunities of traditional financial assets. BGUSD maintains liquidity with options for redemption in USDC at a 1:1 ratio.

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• May 27, 2:30 AM The Block

  The Blockchain Group completes $72 million bond issuance to fund Bitcoin purchases

  Blockchain Group has concluded convertible bond issuances totaling $72 million to finance the acquisition of additional Bitcoin, aiming to increase its holdings to over 1,400 BTC. The company has recently doubled its share price since adopting its Bitcoin accumulation strategy and plans to continue developing its subsidiary operations while pursuing this strategy.

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• May 26, 5:36 PM Alpaca Finance

  Alpaca Finance announces wind-down, citing competitive DeFi market and low revenues

  Alpaca Finance has decided to wind down operations and sunset its products, including leveraged yield farming and Automated Vaults, due to the evolving competitive DeFi landscape and reduced revenues. The company has planned a detailed sunset process to securely manage user assets, urging users to close their positions by specified deadlines. This decision follows a downturn in the crypto market, declining Total Value Locked (TVL), and recent delisting from Binance, impacting the protocol's operational capacity.

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• May 26, 9:17 AM The Block

  Crypto investment products see $3.3 billion in weekly inflows with Bitcoin leading the surge

  Last week, crypto investment products saw $3.3 billion in inflows, significantly boosting their year-to-date total to $10.5 billion. Major contributions came from Bitcoin and Ethereum, with Bitcoin alone accounting for about $2.9 billion of the inflows. This influx pushed the total assets under management to a record $187.5 billion. The US dominated these inflows, contributing $3.2 billion. However, XRP experienced its largest-ever outflows, ending an 80-week streak of inflows.

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• May 26, 6:26 AM Blockchain Group

  The Blockchain Group secures €63M in Bitcoin-denominated bonds to boost treasury

  The Blockchain Group, a European Bitcoin Treasury Company, has raised approximately €63.3 million through BTC-backed convertible bond issuances, targeting an increase in Bitcoin per share. Moonlight Capital and strategic investors Fulgur Ventures and UTXO Management participated in the bond sales. These bonds, redeemable in Bitcoin or euros, will enable TBG to boost its Bitcoin reserves by approximately 590 BTC, reaching around 1,437 BTC in total. The majority of the proceeds will be used for Bitcoin acquisition, affirming TBG's commitment to enhancing its Bitcoin-focused investment strategy.

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• May 26, 12:37 AM Cointelegraph

  Blockstream CEO Adam Back leads $2.2 million funding for H100 Group's Bitcoin acquisition strategy

  Blockstream CEO Adam Back led a $2.2 million funding round for H100 Group through 0% interest convertible loans, aimed at purchasing Bitcoin. This fund allows H100 to increase its Bitcoin holdings to approximately 24.57 tokens. The funding involved contributions from Adam Back, who provided about $1.4 million, with the remainder coming from several investment firms. This initiative positions H100 among the first public companies in Sweden and Europe to adopt a Bitcoin treasury strategy.

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• May 23, 1:01 PM The Block

  Ledn shifts to bitcoin-only lending model, ending support for Ethereum

  Ledn, a centralized crypto lender, is shifting its focus solely to bitcoin-collateralized lending, discontinuing Ethereum support and bitcoin yield generation. Starting July 1, Ledn will terminate lending client assets to minimize third-party credit risk exposure. The company will now solely offer a 'Custodied Bitcoin' loan structure, where client collateral remains fully in their custody, ensuring asset security. This strategic pivot aims to return to the founding principles of Bitcoin and eliminate lending risks for users.

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• May 23, 2:57 AM The Block

  SEC acknowledges Canary Capital's filing for staked Tron ETF

  The SEC has recognized Canary Capital's filing for a staked Tron (TRX) ETF facilitated by Cboe BZX Exchange while other crypto ETF decisions remain pending. Stakeholders are invited to comment on the proposed ETF, which features Bitgo as the fund custodian. Meanwhile, the SEC has delayed decisions on several other crypto ETFs, including proposals from Bitwise, Coinshares, and Fidelity.

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• May 22, 12:11 PM Strategy

  Strategy unveils $2.1 billion preferred stock ATM program to support Bitcoin treasury expansion

  Strategy (Nasdaq: MSTR; STRK; STRF) announced a $2.1 billion at-the-market program to issue shares of its 10.00% Series A Perpetual Strife Preferred Stock. The company plans to sell the shares over time, based on market conditions, and intends to use the proceeds for general corporate purposes, including bitcoin acquisition and working capital. The shares will be sold in compliance with US securities laws under a prospectus supplement filed with the Securities and Exchange Commission.

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• May 22, 6:17 AM CoinDesk

  Trump meme coin dinner sparks lawsuits, new legislation and protests from Democrats

  US President Donald Trump is facing legal threats and protests from Democrats over his meme coin dinner event scheduled at Trump National Golf Club. The dinner, inviting the 220 top holders of the $TRUMP meme coin, has raised concerns due to the potential for foreign influence and the secrecy of the attendees' identities. Critics, including Senate Democrat Richard Blumenthal, have attacked the event as corrupt, highlighting that it could be seen as selling access to political power. Additionally, Representative Maxine Waters has introduced legislation aimed at curbing senior officials' involvement in crypto to counteract such actions by Trump.

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• May 22, 4:23 AM The Block

  SafeMoon CEO convicted of major crypto fraud, could face 45 years in prison

  SafeMoon CEO Braden John Karony has been convicted by a federal jury on multiple charges of fraud, potentially facing up to 45 years in prison. The charges relate to a crypto scheme where investors were defrauded of millions through the misappropriation of funds from SafeMoon's liquidity pool. SafeMoon, issued in 2021 with a peak market cap of over $8 billion, included a 10% tax on transfers purportedly safeguarded in a liquidity pool. However, funds were redirected for personal gain by Karony and his associates, who also engaged in trading the token to generate millions in illicit profits.

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• May 22, 3:34 AM Binance

  Binance lists World Liberty Financial USD with trading to begin imminently

  Binance will list World Liberty Financial USD (USD1) and enable trading for the USD1/USDT pair starting from May 22, 2025, at 12:00 UTC. Deposits for USD1 are now open in preparation for trading, with withdrawals to follow on May 23. USD1 is a fiat-backed stablecoin by World Liberty Financial, designed to ensure a 1:1 parity with the US dollar, and adheres to US regulatory standards enforced by BitGo Trust Company.

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