Coindesk

TeraWulf's (WULF) breakneck rally cooled on Tuesday as the firm increased its convertible note sale to $850 million and announced the pricing of the offering, aimed at funding its data center expansion.The notes will mature in 2031 with 1% annual interest, and will be exchangeable into cash, stock or both at TeraWulf’s election, the company said in a Monday press release. Initial conversion price is set at $12.43 per share, representing a 32.5% premium to last week’s close.Net proceeds are estimated at $828.7 million, and are earmarked for data center expansion with $85.5 million earmarked for capped call transactions designed to limit share dilution, the firm said. Buyers have a 13-day option to add another $150 million to the deal,...

Valantis, a decentralized exchange (DEX) protocol, has acquired Staked Hype (stHYPE), the second-largest liquid staking token (LST) on Hyperliquid. Financial terms of the deal were not disclosed.stHYPE, which launched as the first LST on HyperEVM, currently holds about $180 million in total value locked (TVL), according to the stHYPE website.Following the deal, stHYPE’s operations, development, and scaling will be managed by Valantis Labs. Addison Spiegel, founder of Thunderhead, the team behind stHYPE, will serve as an advisor to Valantis.Liquid staking has become a central pillar within Hyperliquid’s ecosystem. According to DeFiLlama, liquid staking accounts for more than half of Hyperliquid L1’s $2.26 billion in DeFi TVLThe acquisition builds on Valantis’ earlier launch of LST-specific DEX pools for both stHYPE and...

XRP saw aggressive swings before an abrupt halt capped the session, leaving traders to debate whether institutional flows or technical glitches drove the erratic pattern. The token moved in a 5% range before trading froze at the $3.00 mark.News Background• XRP gained as much as 5% from $2.97 to $3.10 during the August 18–19 session before sliding back toward $3.00.• The final 60 minutes showed heavy activity — price moved between $3.01 and $2.99 — before freezing completely at 08:19 with zero volume recorded.• The abrupt halt raised speculation of technical disruption or liquidity vacuum in major trading venues.• Volumes peaked at 3.26 million in a single minute (08:00–08:01), consistent with institutional order flow or algorithmic triggers.Price Action Summary• Session...

KindlyMD, Inc. (NAKA) has acquired 5,743.91 BTC through its subsidiary Nakamoto Holdings, marking the company’s first major bitcoin purchase following the merger. The acquisition brings KindlyMD’s total Bitcoin holdings to 5,764.91 BTC. This purchase was done at a weighted average price of $118,204.88, with the $679 million transaction funded using PIPE proceeds."This acquisition reinforces our conviction in Bitcoin as the ultimate reserve asset for corporations and institutions alike," said CEO David Bailey. "Our long-term mission of accumulating one million bitcoin reflects our belief that Bitcoin will anchor the next era of global finance, and we are committed to building the most trusted and transparent vehicle to achieve that future."NAKA shares are up 4% in pre-market trading, rising to $12.50.Source link...

Wyoming state announced on Tuesday the mainnet launch of its U.S. dollar stablecoin Frontier Stable Token (FRNT), claiming it to be the first fully-reserved stablecoin in the country issued by a public entity."The mainnet launch of the Frontier Stable Token will empower our citizens and businesses with a modern, efficient, and secure means of transacting in the digital age," Mark Gordon, governor of Wyoming and chairman of the Wyoming Stable Token Commission, said in a statement.The token has already been deployed on the Arbitrum (ARB), Avalanche (AVAX), Base, Ethereum (ETH), Optimism (OP), Polygon (POL), and Solana (SOL) networks, blockchain data on the project's website shows. The token is designed to be 2% over-collateralized, backed by U.S. dollars and short-duration U.S....