Coindesk

Cryptocurrency trading firm Galaxy Digital (GLXY) is expanding its blockchain staking platform for large institutional customers with help from crypto custody specialists Fireblocks, the companies said Wednesday.With the integration, Galaxy’s staking services are now natively accessible to the more than 2,000 of the world’s largest financial institutions that use Fireblocks to stake digital assets directly from their Fireblocks custody vaults, the statement said.Staking crypto assets on blockchains, a way of supporting the way transactions are validated on a decentralized network in return for yield, is growing among institutional investors, particularly under a crypto-friendly administration in the U.S.Galaxy said it currently holds around $2.3 billion of crypto assets under stake, and the Fireblocks deal is its third custodial integration this year,...

Anthony Pompliano's ProCap, recently shared an update on its progress and valuation metrics. ProCap has entered into a $1 billion business combination agreement with Columbus Circle Capital Corp 1 (CCCM). As part of the deal, ProCap has raised over $750 million and already deployed more than $500 million to purchase bitcoin (BTC), amassing a treasury of 4,950 BTC. This makes ProCap, the 13th largest public holder of bitcoin globally.The data and analysis presented by Pompliano comes directly from ProCap and refer to implied multiple Net Asset Value (mNAV) premiums. According to ProCap’s analysis, the company’s stock is currently trading at the lowest implied mNAV premium among a group of bitcoin treasury companies, at 1.3x, compared to peers like Cantor Equity...

Move over the endless X threads and VC endorsements. A deep dive into the token launch dynamics by Simplicity Group shows that token debuts are more about cold, hard fundamentals and less about hype and marketing.The firm analyzed over 50,000 data points related to 40 crypto token launches in the first four months of the year to derive following conclusions:Engagement isn't everythingThe popular notion in the crypto community is that increased activity on social media translates to a successful token launch. But Simplicity Group found no statistical relationship between social media engagements, particularly replies, post and likes on X (formerly Twitter) and price performance of the token in one-week after the launch.Infact, research points to negative correlation between interactions and...

What started as an apparent ‘hallucinated’ response from X's artificial intelligence platform, Grok, quickly morphed into a microcap memecoin frenzy.The X-based AI tool last week spat our the terms “MechaHitler,” “GigaPutin” and “CyberStalin” in the same breath in an apparent unprompted response to a user query, an erratic, racially charged response that went viral.MechaHitler is a fictional cyborg version of Adolf Hitler from the 1992 game Wolfenstein 3D, which gained fame in 90s satire and early internet memes.While most consider such terms to be dark, offensive, and completely unhinged, some someone took the misfire seriously enough to launch multiple tokens under the name.Over 200 "MechaHitler" tokens went live across Solana and Ethereum, among other networks, in the past 24 hours....

Robinhood tokens offering equity in OpenAI technically aren't equity, Vlad Tenev confirmed in a recent CNBC interview, but are backed by "Robinhood's ownership stake in a special purpose vehicle."OpenAI warned earlier this month that the tokens being offered by Robinhood do not represent equity in the company, and any transfer of equity would require OpenAI's approval which they haven't given."In and of itself, I don't think it's entirely relevant that it's not technically an equity instrument," Tenev said on CNBC. "What's important is that retail customers have an opportunity to get exposure to this asset."Robinhood isn't the first platform to offer shares in pre-IPO companies with this model.Linqto, which offered retail investors exposure via special purpose vehicles that bought up...