NewsBriefs - Circle forms USDC revenue sharing deal with crypto exchange Bybit

Jul 9, 5:45 PM CoinDesk

Circle forms USDC revenue sharing deal with crypto exchange Bybit

Circle has established a revenue sharing agreement with Bybit, providing terms similar to existing deals meant to boost USDC adoption on the exchange platform. This strategy mirrors arrangements with other exchanges like Coinbase and Binance, where Circle allocates a portion of the interest from its reserves and other financial incentives to facilitate the deployment and usage of the USDC stablecoin. This move comes as Circle seeks to expand its footprint in the competitive stablecoin market, where USDC's circulation is significant but trails behind leader Tether.

Latest

• Jul 9, 5:45 PM CoinDesk

  Circle forms USDC revenue sharing deal with crypto exchange Bybit

  Circle has established a revenue sharing agreement with Bybit, providing terms similar to existing deals meant to boost USDC adoption on the exchange platform. This strategy mirrors arrangements with other exchanges like Coinbase and Binance, where Circle allocates a portion of the interest from its reserves and other financial incentives to facilitate the deployment and usage of the USDC stablecoin. This move comes as Circle seeks to expand its footprint in the competitive stablecoin market, where USDC's circulation is significant but trails behind leader Tether.

  Expand Hide

  

• Jul 8, 5:45 PM Bitcoin Sistemi

  Peanut the Squirrel meme coin PNUT jumps following Elon Musk's statement

  Following a social media post by Elon Musk about a squirrel named Peanut on platform X, the price of the cryptocurrency memecoin PNUT experienced a significant increase. Musk's reference to Peanut in the context of US governance criticism reiterated his notable impact on crypto markets through his statements.

  Expand Hide

  

• Jul 8, 2:23 AM The Block

  Murano Global Investments pursues Bitcoin treasury strategy with $500 million equity deal

  Murano Global Investments, a Nasdaq-listed company focusing on Mexican hotels and resorts, has announced a bitcoin treasury strategy to enhance capital efficiency and liquidity using operating cash flows, real estate assets, and capital market access. The company has entered a Standby Equity Purchase Agreement with Yorkville to secure up to $500 million, mainly for bitcoin acquisition, reinforcing the balance sheet against inflation and systemic risks. Murano has also joined the Bitcoin for Corporations alliance to support corporate bitcoin adoption and is exploring additional initiatives like accepting bitcoin payments and bitcoin reward programs.

  Expand Hide

  

• Jul 7, 8:25 PM The Block

  Pump.fun sets July 12 date for PUMP token sale

  Pump.fun, a Solana-based platform for creating meme coins, is set to list its new PUMP token on Gate exchange with a sale beginning on July 12. The sale, scheduled to last 72 hours, will offer 150 billion tokens at $0.04 each in USDT with 15% of the total 1 trillion token supply available. Pump.fun, experiencing significant trading activity on Solana, has until now generated approximately $700 million in cumulative revenue since its inception. The upcoming token sale could potentially implement a revenue-sharing feature for token holders.

  Expand Hide

  

• Jul 7, 2:00 PM The Block

  Paradigm leads $11.5 million funding round for Kuru Labs to develop decentralized exchange

  Paradigm has led a Series A funding of $11.5 million for Kuru Labs, which is constructing a decentralized exchange using a hybrid model combining automated market maker (AMM) and central limit order book (CLOB) functionalities on the Monad Layer 1, Ethereum-compatible platform. This architecture merges traditional and crypto exchange features, offering liquidity and enabling placement of limit orders.

  Expand Hide

  

• Jul 7, 1:33 PM The Block

  CoreWeave to acquire Core Scientific in $9 billion deal strengthening US data-center capabilities

  CoreWeave has agreed to acquire bitcoin miner Core Scientific in a $9 billion all-stock transaction, providing CoreWeave over a gigawatt of US data-center power for scaling artificial intelligence operations. Core Scientific shareholders will receive 0.1235 CoreWeave Class A shares per Core Scientific share, valuing each share at about $20.40. The deal, expected to close in Q4 2025, comes after Core Scientific filed for Chapter 11 bankruptcy in 2022 and will result in Core Scientific shareholders owning less than 10% of the new entity.

  Expand Hide

  

• Jul 3, 9:12 PM Decrypt

  SEC pauses Grayscale ETF trading approval, citing regulatory concerns

  Grayscale expressed surprise at the SEC's decision to pause the approval of its Digital Large Cap Fund ETF, which includes cryptocurrencies like Bitcoin, Ethereum, Solana, XRP, and Cardano. This action reflects an evolving regulatory environment. Despite the setback, Grayscale remains committed to launching its product as an exchange-traded fund and is actively working with stakeholders to fulfill all regulatory prerequisites.

  Expand Hide

  

• Jul 2, 9:19 PM Bitcoin Sistemi

  KBC to offer Bitcoin and Ethereum purchasing options this fall

  KBC, a leading Belgian financial institution, is set to offer Bitcoin (BTC) and Ethereum (ETH) purchasing options through its Bolero investment platform beginning this fall. This makes KBC the first major bank in Belgium to integrate direct crypto transactions. The bank is currently undergoing regulatory processes to become an official crypto asset service provider. Initiatives for user education and secure transaction platforms are highlighted as part of their forthcoming services.

  Expand Hide

  

• Jul 2, 5:24 PM The Block

  BlackRock's Bitcoin ETF surpasses its S&P 500 fund in revenue

  BlackRock's iShares Bitcoin ETF (IBIT) generates more revenue than its $624 billion iShares Core S&P 500 ETF (IVV), primarily due to a higher expense ratio. Despite being significantly smaller in size with $70 billion in assets, IBIT earns slightly more through its 0.25% expense ratio compared to the 0.03% charged by the S&P 500 ETF. The increase in IBIT's assets under management reflects growing investor interest in Bitcoin and supports the trend of higher fees for niche crypto exposures.

  Expand Hide

  

• Jul 2, 11:17 AM The Block

  Standard Chartered projects bitcoin to hit $200K by year-end, driven by ETFs and corporate demand

  Standard Chartered predicts significant gains for Bitcoin, foreseeing a potential rise to $200,000 by the end of 2025, propelled by increased ETF inflows, corporate treasury investments, and favorable policy conditions. The bank's outlook, influenced by current and projected ETF purchases and strategic corporate buying, could outpace previous buying records set by firms like Strategy and boost Bitcoin's price to unprecedented levels.

  Expand Hide

  

• Jul 2, 12:16 AM Bloomberg

  Binance maintains Singapore-based staff amid new crypto regulations

  Despite stringent regulations by the Monetary Authority of Singapore requiring unlicensed crypto operators to cease activities by June 30, Binance plans to keep its hundreds of remote workers in Singapore. The new regulations are said to have minimal impact on Binance's operations in the region as these employees mainly engage in non-client-facing roles such as compliance and technology. Binance has emphasized a remote-first working strategy and does not solicit customers in Singapore, aligning with the local regulatory frameworks.

  Expand Hide

  

• Jul 1, 1:02 PM Cointelegraph

  Paxos launches MiCA-compliant Global Dollar stablecoin in the EU

  Paxos has launched its Global Dollar (USDG) stablecoin in the European Union, ensuring compliance with the EU's Markets in Crypto-Assets Regulation (MiCA) and oversight from both the Finnish Financial Supervisory Authority and Singapore's central bank. The stablecoin, available through partners such as Kraken and Gate, is part of a broader push into European markets, aligning with MiCA norms including reserve requirements and audit protocols. The launch is supported by the Global Dollar Network, an infrastructure project backed by financial and fintech giants like Kraken, Robinhood, and Mastercard.

  Expand Hide

  

• Jun 30, 12:07 PM The Block

  Strategy acquires 4,980 more bitcoins, expands portfolio to 597,325 BTC

  Strategy recently purchased 4,980 bitcoins for about $531.9 million, increasing its total holdings to 597,325 BTC, valued over $64 billion. The funds for the latest acquisition came from ATM sales of its various stocks including MSTR, STRK, and STRF preferred shares. With this addition, Strategy's BTC totals more than 2.8% of the total circulating supply, reflecting significant paper gains. The company leverages its '42/42' capital raise plan aiming for extensive BTC acquisitions by 2027.

  Expand Hide

  

• Jun 26, 4:06 AM The Block

  Metaplanet surpasses Tesla with a new bitcoin purchase, becoming seventh-largest corporate holder

  Metaplanet, a Japanese investment firm, has purchased an additional 1,234 BTC for approximately $132.7 million, raising its total holdings to 12,345 BTC. With this acquisition, Metaplanet's holdings are valued at about $1.3 billion and the company now ranks as the seventh-largest publicly listed corporate holder of bitcoin, surpassing Tesla. The purchase followed a recent $515 million fundraising aimed to expand its bitcoin portfolio as part of its plan to secure 1% of bitcoin's supply.

  Expand Hide

  

• Jun 25, 9:01 PM The Block

  Invesco and Galaxy propose Solana ETF in new SEC filing

  Invesco and Galaxy Digital have submitted a registration statement for a Solana ETF named 'Invesco Galaxy Solana ETF' to the US Securities and Exchange Commission. The ETF, set to trade under the ticker 'QSOL' on Cboe BZX if approved, will have Invesco Capital Management as the sponsor, with Galaxy Digital handling token acquisition and Bank of New York Mellon as the administrator. Coinbase Custody Trust Company will act as custodian for the Solana tokens.

  Expand Hide