Coindesk

The crypto political action committee that stunned U.S. politics last year, Fairshake, successfully weighed in again in a pair of Florida special elections to replace Republican members of Congress, likely adding to its list of lawmakers who have the industry to thank for campaign support.A primary election closed Tuesday night, giving pro-crypto candidates supported by $700,000 in Fairshake money overwhelming victories in both seats. Florida's 1st District vacated by former Representative Matt Gaetz and 6th District vacated by former Representative Mike Waltz are both staunchly Republican, meaning the primary winners — Jimmy Patronis in the 1st and Randy Fine in the 6th — are likely to move on to general-election wins in the April 1 ballot.The two Florida seats in...

Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR).To say that MicroStrategy (MSTR) has been at the lead of creatively raising capital with which to buy massive amounts of bitcoin (BTC) would be an understatement. Led by Executive Chairman Michael Saylor, the company this week opened a new front along those lines with its perpetual preferred stock offering (STRK).Preferred stock sits between equity and debt on the corporate balance sheet, offering investors the regular return of bonds while giving them an ownership stake in a company. Well-followed MicroStrategy analyst Ben Werkman, posted on X about the attraction preferred stock can offer institutional investors due to its lack of maturity risk, stable yield and optional equity upside."I could...

Trump Media and Technology Group (DJT), the company that operates the social media site Truth Social, announced Wednesday it is launching a financial services platform focusing on crypto and customized exchange-traded funds.The company's board approved an investment of up to $250 million at major asset manager Charles Schwab (SCHW). The funds may be allocated to customized separately managed accounts (SMAs), customized exchange-traded funds (ETFs) and bitcoin (BTC) and similar cryptocurrencies or crypto-related securities, according to a filing to the Securities and Exchange Commission.Charles Schwab will also broadly advise on Truth.Fi's investments and strategy, according to the press release.“Truth.Fi is a natural expansion of the Truth Social movement," Trump Media CEO and Chairman Devin Nunes said in a statement. "We began...

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.The CoinDesk 20 is currently trading at 3686.16, down 0.8% (-30.23) since 4 p.m. ET on Tuesday.Four of 20 assets are trading higher.Leaders: UNI (+5.1%) and NEAR (+0.5%).Laggards: ICP (-3.2%) and BCH (-2.2%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

Crypto accounting platform Cryptio has raised $15 million in an extension to its Series A funding round from June 2022. Existing investor Alven led the round and featured participation from new backers 1kx and Ledger Cathay Capital, Cryptio told CoinDesk via email on Wednesday. The $15 million raised takes the total for the Series A round to $25 million.Cryptio's aim is to provide traditional financial (TradFi) entities with back-office operations and infrastructure that allow them to offer digital asset products such as stablecoins, crypto-backed loans and crypto savings.Many observers are expecting the number of banks offering crypto services to increase following the repeal of the U.S. Securities and Exchange Commision (SEC)'s controversial SAB 121 accounting rule.SAB121 decreed that a company...