Coindesk

Anthony Pompliano is taking his bitcoin-native financial platform ProCap BTC public through a $1 billion merger with Columbus Circle Capital Corp. I (CCCM), a special-purpose acquisition company (SPAC) sponsored by an affiliate of Cohen & Company.The transaction, announced Monday, positions the new entity, ProCap Financial, Inc., as one of the largest bitcoin treasuries ever to hit public markets.In what’s being called the largest initial fundraise for a public bitcoin BTC treasury company to date, ProCap raised $550 million in preferred equity and secured $225 million in convertible notes, giving future shareholders immediate exposure to bitcoin through a structure designed to acquire BTC ahead of the deal's close.Led by Pompliano, a well-known investor and vocal bitcoin advocate, ProCap aims to operate...

Crypto firm Unicoin has agreed to buy a 51% stake in Diamond Lake Minerals, a firm specializing in digital assets, setting the stage for a strategic rebrand and a shift into altcoin treasury.The deal, which was announced on Monday, will see Diamond Lake Minerals renamed to DiamondLake and refocussed on building a cryptocurrency treasury business. That effort is inspired by Strategy’s bitcoin BTC-heavy corporate treasury strategy but swaps BTC for emerging altcoins.Shares of Diamond Lake Minerals’ were last trading at $3.96, suggesting the deal could be worth above $70 million. The acquisition is expected to close within 20 days, pending standard conditions.Unicoin CEO Alex Konanykhin framed the move as a bet on the future of cryptocurrencies. He cited legislative shifts...

The short-term holder realized price (STH RP) for bitcoin BTC currently sits at $98,200, representing the average on-chain acquisition price for bitcoin {BTC} held outside of exchange reserves and moved within the last 155 days. This metric, derived using on-chain heuristics, helps distinguish between short and long-term holders and provides insight into market sentiment, according to Glassnode data. Realized price refers to the average acquisition price for the entire circulating bitcoin supply, based on the last time each coin moved on-chain. STH RP narrows this down to more recently active coins, which are statistically more likely to be spent. These are often the most sensitive to market volatility.Over the weekend, bitcoin dipped amid geopolitical tensions, driven by escalating conflict between...

The calm in the oil market following the U.S. airstrike on Iran's nuclear sites has dashed the forecasts of bears who predicted a slide in the price of bitcoin BTC. With this in mind, traders can look to the week's major events that could affect markets.Federal Reserve Chairman Jerome Powell's semi-annual monetary policy testimony to Congress is likely to be the main event.Powell will probably be grilled by Republican party members for not cutting interest rates and "costing the country hundreds of billions of dollars," as President Donald Trump has repeatedly said in his Truth Social posts. Powell, however, is expected to reiterate the Fed's independence and the data-dependent path forward for rates.Traders will closely watch Powell's take on the...

Ever since President Donald Trump's administration signaled favorable crypto regulations, banks, financial institutions and big fintech firms have been looking to bring funds on-chain, and seamlessly offer compliant access to decentralized finance (DeFi), according to blockchain development firm Alchemy.DeFi, traditionally a way for anonymous users to engage in a complex system of automated lending and borrowing of assets, can bring to a whole new audience of users to conventional finance (TradFi), with the possibility of compliance guardrails in place and abstracting away the headache of dealing in smart contracts.The common pattern is best described as growing a “DeFi mullet,” according to Alchemy, a picks and shovels provider for blockchain builders that has been described as the “AWS of crypto,” a...