Earn with Nexo
Strategy avoids Bitcoin sale but drains $1.38B from cash reserve in debt buyback
Strive leapfrogged Coinbase to become the 7th-largest public Bitcoin holder, and it only took $85M to do it.
Powered by Gloria
Three crypto treasury firms made headlines today, and none of them were selling.
Strategy retired $1.5 billion in debt without touching its sats.
Strive became the seventh-largest public BTC holder ahead of Coinbase, and Bitmine moved closer to joining the Russell 1000.
Meanwhile, the UK reminded everyone that not all crypto flows are welcome.
Here's what's in focus.
Strive buys 1,109 BTC for $85M, leapfrogs Coinbase as 7th-largest public holder
Strive now holds 16,500 BTC, quietly passing both Coinbase and Riot Platforms on the corporate leaderboard.
The company paid roughly $77K per coin, scooping up Bitcoin while most of the market sat still.
The race for public company Bitcoin dominance is no longer a two-horse game between Strategy and Tesla.
Markets
Strategy retires $1.5B in debt instead of buying Bitcoin
Saylor's Strategy skipped its usual Bitcoin buying window and retired convertible notes instead.
The company bought back $1.5B in debt at an 8% discount, funded entirely with cash on hand.
No Bitcoin was sold to finance the move, signaling confidence in the long game.
BTC slipped below $77K, ETH traded near $2,100, and SOL drifted toward $84.
Bitmine eyes a seat at the Russell 1000 table
BitMine's holdings have approached 5.4 million ETH, equal to approximately 4.5% of all ETH in circulation.
Its market cap has crossed $11B, clearing the bar for Russell 1000 inclusion.
If added, it would make history as the first Ethereum-backed treasury play to earn a spot in a major US large-cap equity index.
UK sanctions crypto exchanges and shadow network funneling $1.5B to Russia
Britain sanctioned crypto exchanges and a shadow finance network called A7 on Tuesday.
The network allegedly funneled $1.5B to support Russia's war effort in Ukraine.
Expect other Western governments to use this as a blueprint for targeting illicit crypto flows.
On Our Radar
Precious metals for digital natives: A practical guide to buying physical silver bullion.*
Chat-to-trade: Base rolls out protocol enabling Claude and ChatGPT to swap crypto.
Honoring Nathan Allman: Ondo Finance appoints Ian De Bode as CEO after the passing of its founder.
*sponsored
ICYMI
Meme of the Day
See you in the next one.
Vi
|
|
